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Sports
December
14, 2024
Saturday Night's
Main Event XXXVII
WWE
Crown Jewel
November 2, 2024
November
30, 2024
WWE
Survivor Series: WarGames
October
27, 2024
UFC 308
Etihad Arena
Abu Dhabi, United Arab Emirates
Ilia Topuria vs Max Holloway
Robert Whittaker vs Khamzat Chimaev
October
13, 2024
UFC
Fight Night Vegas
APEX, Las Vegas
Brandon Royval vs Tatsuro Taira
October
12, 2024
BKFC
Spain
Marbella, Spain
3 Title Fights
WWE
Bad Blood
Rhodes and Reigns vs The Bloodline
October 5, 2024
Atlanta, Georgia
October
6, 2024
UFC 307
Salt Lake City, Utah
September
29
UFC
Fight Night France
Renato Moicano vs Benoît Saint Denis
WWE
Speed
September
27, 2024
WWE SmackDown
Hayes vs Andrade 6
September
13, 2024
Bare Knuckle Fighting Championship
BKFC
66 - Blas vs Reber
Seminole Hard Rock Hotel. Hollywood, Florida
September
14
UFC
UFC
Noche aka UFC 306
Sphere, Las Vegas
O'Malley vs Dvalishvili
September
14
Premier
Boxing Champions
MGM T-Mobile Arena
Hotel,
Casino And Gaming News: U.S, Global
October
9, 2024
Hard
Rock Casino Rockford has 2nd largest GGR
Illinois
Hard
Rock Casino Rockford brought in the 2nd highest casino gambling
revenue of any casino operating in Illinois. In September
2024, Hard Rock Casino Rockford brought in $13,717,722 in
revenue. That makes Rockford’s casino the second largest
in revenue in the state, behind the Rivers Casino Des Planes,
which brought in $41.5 million in September. The total GGR
for Illinois in September was $138.9 million with 1,140,023
admissions; the 2023 GGR was $132.1 million with 1,038,436
admissions.
News
Tropicana
implosion paves way for A's stadium
Nevada
The
Tropicana Casino and Resort, one of the last true mob buildings
on the Las Vegas Strip, was reduced to rubble Wednesday
morning. The implosion cleared land for the proposed $1.5
billion baseball stadium for the relocating Athletics, which
is part of the city's latest rebrand into a sports hub.
News
Shift
to attract millennials to casinos
Nevada
Innovations
in gaming space and expanding technology in the postpandemic
era continue to attract a new, younger generation to Las
Vegas and its casinos, MGM Resorts International President
Bill Hornbuckle said Tuesday at the Global Gaming Expo.
News
Allegiant
Stadium to host Gold Cup soccer matches
Nevada
International
soccer will once again kick off at Allegiant Stadium next
summer. The Las Vegas Convention and Visitors Authority
approved an event production agreement during its Tuesday
board meeting, including matches in the CONCACAF Gold Cup
tournament in June 2025.
News
Ten
Vegas restaurants together grossed almost $200M in 2023
Nevada
Never
underestimate the power of a seat on the Las Vegas Strip.
Alexxa’s in Paris Las Vegas, which offers some of the
best street-side dining on the boulevard, was the highest-grossing
independent restaurant in the city in 2023, according to
Restaurant Business. Alexxa’s brought in $28.8 million
in food and drink sales, and about 600,000 meals served.
The restaurant ranked No. 9 on the list…The 10 Vegas
restaurants (all but one on the Strip) in the top 100 together
racked up nearly $200 million in sales for 2023.
News
Revenue
Surges 48% Year-Over-Year in September 2024
West
Virginia
West
Virginia’s sports betting revenue surged in September
2024, seeing a 48% increase compared to the same month last
year…the state generated $7.1 million in revenue from
a $46.4 million handle, marking the second-highest monthly
revenue ever recorded for the state’s sportsbooks…the
total handle—$46.4 million wagered—was down 7%
compared to September 2023.
Casino And Gaming News
Macau
October
2024
Macau's
gaming revenue jumps 15 percent
Macau's
gaming revenue rose 15.5 percent year-on-year in September,
exceeding analysts' forecast as casinos gear up for one
of China's biggest holidays, which usually fuels travel
to the gambling hub.
Gross
gaming revenue reached 17.25 billion patacas (HK$16.73 billion)
for the month, according to data released by the Gaming
Inspection and Coordination Bureau. The result is compared
to the median analyst estimate of a 14.2 percent increase
and has returned to 78 percent of the pre-pandemic level
seen in 2019.
The
reporting was still lower than in the previous month, as
September - when children go back to school and it being
a peak typhoon month - is historically a weak season for
Macau.
Expectations
for the Golden Week holiday, which started yesterday, are
high. Advanced bookings for hotel rooms are strong, with
bigger gamblers making reservations earlier than usual,
Citigroup analyst George Choi wrote in a note.
Affluent
players remain able and willing to spend, and the trend
seems to be accelerating, Choi said, citing a survey of
gaming table performances.
Still,
retail sales in Macau have shown signs of weakness. Lower-spending
players appear to be betting less for the first time since
China's reopening from Covid early last year, according
to Choi. It is expected that this trend will ease as Beijing's
recent announcement of a series of economic stimulus measures
boosts disposable income, he added.
News
Global
Gaming
Eklutna
tribe clears land for anticipated casino
Alaska
A tribe
near Anchorage has begun clearing land for the possibility
that it will soon win federal approval to build a 50,000-square-foot
facility with a tribal gaming operation. The casino would
be the first of its kind outside Southeast Alaska. The Native
Village of Eklutna has long pursued the idea of building
the gaming hall on 8 acres of land…The parcel is in
Birchwood, about 20 miles northeast of downtown Anchorage.
News
Julapun
pushes for talks on casino complex plan
Thailand
Deputy
Finance Minister Julapun Amornvivat is calling on all relevant
state agencies to discuss the government's push to allow
casinos to operate within entertainment complexes. He hopes
the discussion can be concluded by the middle of the month.
He said the discussion will focus on the mechanism for tax
collection, as there are restrictions in the State Fiscal
and Financial Disciplines Act that the government must adhere
to.
News
Nevada
Sports
Betting Revenue Grows in August
Nevada
sports betting posted August gains in handle and revenue,
total August volume surpassed $455.2 million, a boost from
the $431.6 million bet during the same month last year.
Nevada sports betting operators cleared $25 million behind
a 5.5% August win rate…The 5.5% hold for NV sportsbooks
is one of the lowest this year, though on par with the market’s
average win rate of less than 6%.
News
Florida
Slot
revenue rises to $54.9 million in August
Florida
Gaming Control Commission has revealed that the state’s
non-tribal casinos collected almost $54.9 million in net
slot revenue in August from around $825.6 million in wagers.
That’s a 1.5 percent year-on-year increase from the
$54.1 million generated in August 2023. With 1,236 machines,
Harrah’s Pompano Beach Casino, reported as the Isle
Casino & Racing at Pompano Park, led with $9.8 million
of the total.
News
Pete
Rose dies at age 83
Pete
Rose, baseball’s career hits leader and fallen idol
who undermined his historic achievements and Hall of Fame
dreams by gambling on the game he loved and once embodied,
has died. He was 83. Stephanie Wheatley, a spokesperson
for Clark County in Nevada, confirmed on behalf of the medical
examiner that Rose died Monday. Wheatley said his cause
and manner of death had not yet been determined. Rose is
in the WWE Hall of Fame (Celebrity Wing) Rose was grabbed
around the neck in a staged skit by the late, great, Andre
The Giant. And yes, there are some WWE themed slot games,
mainly found in Vegas, Atlantic City and Florida from what
the foot soldiers tell us.
News
Australia
Star
Sydney could be worth as little as $8m: Barrenjoey consultants;
Star Entertainment’s Sydney casino has emerged as a
laggard in the troubled company’s property portfolio
with one estimate putting its valuation as low as $8m!
News
Atlantic
City
Atlantic
City hotels defeat latest class action over casino room
rates
Major
casino-hotel operators in Atlantic City including Caesars
Entertainment and MGM Resorts have persuaded a U.S. judge
to dismiss a proposed consumer class action accusing them
and a revenue management platform of overcharging for room
rentals.
U.S.
District Judge Karen Williams in Camden, New Jersey, ruled,
opens new tab on Tuesday that the consumers had failed to
present enough evidence to let their price-fixing lawsuit
move ahead.
Williams
dismissed the consumers’ lawsuit with prejudice, meaning
it cannot be filed again. The case was part of a wave of
new lawsuits claiming the use of revenue management platforms
that rely on rivals' data can be deemed price-fixing.
The
judge’s ruling marked a second setback for plaintiffs
claiming that major hotels schemed to artificially jack
up room rates. Consumers in a related case have appealed
a Nevada federal judge’s order dismissing their lawsuit
against Wynn Resorts, Caesars and others.
In both
cases, the plaintiffs alleged hotel owners fed sensitive
internal information — such as real-time price and
occupancy data — to a shared software platform that
offered pricing recommendations.
The
hotels and the software maker, Cendyn, which was also a
defendant, have denied any wrongdoing.
Representatives
from Cendyn, Caesars Entertainment, MGM Resorts and Hard
Rock on Tuesday did not immediately respond to messages
seeking comment.
The
plaintiffs’ attorneys in the New Jersey case at law
firms Lite DePalma Greenberg & Afanador; Burns Charest;
and Susman Godfrey did not immediately respond to a similar
request.
The
consumers said in their lawsuit that the hotels used Cendyn’s
“Rainmaker” software “as their shared pricing
brain” that “does all the hard work for them.”
They
said “while the AI-driven technology at issue may be
fairly novel, the underlying conduct is not.” (Wires)
Casinos/Profile via Grok
Here's
an overview of the latest updates and trends regarding casinos
as of October 2024, based on the information available:
Global
Expansion and New Developments:
Jamaica
is re-opening the application period for an integrated casino-resort
license, indicating interest in expanding its tourism and
entertainment offerings through casino gaming.
Norfolk,
Virginia has given final approval for a new casino project,
which will likely contribute to local tourism and economy,
reflecting a trend where cities are increasingly seeing
casinos as economic development tools.
Japan
and UAE are among the regions moving towards establishing
casino facilities, aiming to attract tourists. However,
these might be restricted to non-locals, a common practice
to control potential social impacts of gambling within the
local population.
New
York continues to explore online gambling legislation, which
could significantly expand the casino industry's reach in
the state by legalizing online casinos.
Economic
Performance:
Nevada,
particularly Las Vegas, reported a slight decline in casino
winnings for August 2024 compared to the previous year,
suggesting possible market saturation or shifts in gambling
preferences towards other forms like online betting.
Innovation
and Entertainment:
Steve
Cohen, the owner of the New York Mets, has proposed an $8
billion casino and entertainment complex next to Citi Field,
illustrating how casinos are increasingly integrated with
sports and entertainment complexes to offer multifaceted
experiences.
Technological
and Gaming Trends:
There's
a noted trend towards tightening up on various casino offerings
like comps, free play, and even slot machine payouts, possibly
in response to increased competition from online gambling
platforms and a need to adjust profit margins.
Online
Gambling continues to grow, with platforms like Ignition
Casino, Cafe Casino, and DuckyLuck Casino highlighted for
their offerings in the U.S. This reflects a broader shift
towards digital platforms, where convenience, a variety
of games, and bonuses are key attractions.
Security
and Social Responsibility:
Casinos
globally are enhancing their surveillance and security measures,
often referred to as "the eye in the sky," to
combat cheating and fraud, ensuring a safer environment
for all patrons.
There's
an ongoing emphasis on responsible gambling, with various
regions implementing measures and support systems for gamblers,
recognizing the potential social and economic impacts of
casino gambling.
Market
Sentiment:
From
posts on X (formerly Twitter), there's a mix of excitement
about new casino developments and concerns over the tightening
of casino offerings, suggesting a complex relationship between
gamblers and the industry.
In summary,
the casino industry in 2024 is witnessing expansion into
new markets, integration with broader entertainment complexes,
technological adaptation towards online platforms, and a
strategic focus on security and responsible gambling. This
reflects an industry evolving to meet new consumer behaviors,
technological capabilities, and regulatory environments.
(Grok)
Casino News/Profile via Grok
The
term "casino" refers to a facility where gambling
activities take place, which often integrates with other
entertainment options like hotels, restaurants, and live
shows, making it a central hub for leisure and gambling.
Here's an overview based on current insights and historical
context:
Evolution
of Casinos: Originating from the Venetian Ridotto in 1638,
casinos have evolved from exclusive gambling houses to multifaceted
entertainment centers. Today, they are known for merging
traditional gambling with modern technology, offering everything
from classic table games to digital slots and live dealer
sessions.
Modern
Online Casinos: The digital age has ushered in online casinos,
providing an accessible platform for gambling from anywhere.
These platforms, like those highlighted in recent promotions
on X, offer various incentives such as bonuses for new sign-ups,
free spins, and the integration of cryptocurrencies for
transactions, enhancing user engagement with promises like
"deposit now and receive FREE BTC!" This reflects
a trend towards digital currencies in gambling for increased
security, anonymity, and efficiency.
Cultural
Impact and Controversy: Casinos, both physical and online,
are not without controversy. They're often discussed in
terms of their societal impact, including issues like gambling
addiction. A perspective shared on X questions the legality
and morality of state-run casinos like Holland Casino in
the Netherlands, pointing out the potential for addiction
due to high stakes gambling, contrasting it with smaller
community events like bingo nights.
Entertainment
Beyond Gambling: Besides gambling, casinos are pivotal in
the entertainment industry, hosting concerts, stand-up comedy,
and even sports events. This diversification aims at attracting
a broader audience, not just gamblers, enhancing their appeal
as comprehensive entertainment hubs.
Global
Presence: Casinos like Marina Bay Sands in Singapore and
those along the Las Vegas Strip are not just gambling venues
but architectural marvels and economic powerhouses, contributing
significantly to local economies through tourism.
Technological
and Thematic Innovation: Modern casinos incorporate advanced
technology for surveillance and game fairness, alongside
themes that range from historical to futuristic, creating
immersive environments for visitors.
Community
and Legal Perspectives: There's an ongoing debate about
the accessibility of casinos to locals, especially in regions
where gambling might be viewed as culturally or legally
sensitive. This reflects in discussions on platforms like
X, where the impact of allowing locals into casinos like
in Vietnam is pondered, weighing tourism benefits against
social costs.
In summary,
"casino" in today's context represents more than
just gambling; it's a convergence of technology, entertainment,
and sometimes, societal debate. The integration of online
platforms and cryptocurrencies is pushing the boundaries
of traditional gambling, making it more inclusive yet sparking
discussions on regulation, addiction, and societal impact.
(Grok)
Casino
And Gaming News
Macau
October
2024
Macau's
gaming revenue jumps 15 percent
Macau's
gaming revenue rose 15.5 percent year-on-year in September,
exceeding analysts' forecast as casinos gear up for one
of China's biggest holidays, which usually fuels travel
to the gambling hub.
Gross
gaming revenue reached 17.25 billion patacas (HK$16.73 billion)
for the month, according to data released by the Gaming
Inspection and Coordination Bureau. The result is compared
to the median analyst estimate of a 14.2 percent increase
and has returned to 78 percent of the pre-pandemic level
seen in 2019.
The
reporting was still lower than in the previous month, as
September - when children go back to school and it being
a peak typhoon month - is historically a weak season for
Macau.
Expectations
for the Golden Week holiday, which started yesterday, are
high. Advanced bookings for hotel rooms are strong, with
bigger gamblers making reservations earlier than usual,
Citigroup analyst George Choi wrote in a note.
Affluent
players remain able and willing to spend, and the trend
seems to be accelerating, Choi said, citing a survey of
gaming table performances.
Still,
retail sales in Macau have shown signs of weakness. Lower-spending
players appear to be betting less for the first time since
China's reopening from Covid early last year, according
to Choi. It is expected that this trend will ease as Beijing's
recent announcement of a series of economic stimulus measures
boosts disposable income, he added.
News
Global
Gaming
Eklutna
tribe clears land for anticipated casino
Alaska
A tribe
near Anchorage has begun clearing land for the possibility
that it will soon win federal approval to build a 50,000-square-foot
facility with a tribal gaming operation. The casino would
be the first of its kind outside Southeast Alaska. The Native
Village of Eklutna has long pursued the idea of building
the gaming hall on 8 acres of land…The parcel is in
Birchwood, about 20 miles northeast of downtown Anchorage.
News
Julapun
pushes for talks on casino complex plan
Thailand
Deputy
Finance Minister Julapun Amornvivat is calling on all relevant
state agencies to discuss the government's push to allow
casinos to operate within entertainment complexes. He hopes
the discussion can be concluded by the middle of the month.
He said the discussion will focus on the mechanism for tax
collection, as there are restrictions in the State Fiscal
and Financial Disciplines Act that the government must adhere
to.
News
Nevada
Sports
Betting Revenue Grows in August
Nevada
sports betting posted August gains in handle and revenue,
total August volume surpassed $455.2 million, a boost from
the $431.6 million bet during the same month last year.
Nevada sports betting operators cleared $25 million behind
a 5.5% August win rate…The 5.5% hold for NV sportsbooks
is one of the lowest this year, though on par with the market’s
average win rate of less than 6%.
News
Florida
Slot
revenue rises to $54.9 million in August
Florida
Gaming Control Commission has revealed that the state’s
non-tribal casinos collected almost $54.9 million in net
slot revenue in August from around $825.6 million in wagers.
That’s a 1.5 percent year-on-year increase from the
$54.1 million generated in August 2023. With 1,236 machines,
Harrah’s Pompano Beach Casino, reported as the Isle
Casino & Racing at Pompano Park, led with $9.8 million
of the total.
News
Pete
Rose dies at age 83
Pete
Rose, baseball’s career hits leader and fallen idol
who undermined his historic achievements and Hall of Fame
dreams by gambling on the game he loved and once embodied,
has died. He was 83. Stephanie Wheatley, a spokesperson
for Clark County in Nevada, confirmed on behalf of the medical
examiner that Rose died Monday. Wheatley said his cause
and manner of death had not yet been determined. Rose is
in the WWE Hall of Fame (Celebrity Wing) Rose was grabbed
around the neck in a staged skit by the late, great, Andre
The Giant. And yes, there are some WWE themed slot games,
mainly found in Vegas, Atlantic City and Florida from what
the foot soldiers tell us.
News
Australia
Star
Sydney could be worth as little as $8m: Barrenjoey consultants;
Star Entertainment’s Sydney casino has emerged as a
laggard in the troubled company’s property portfolio
with one estimate putting its valuation as low as $8m!
News
Atlantic
City
Atlantic
City hotels defeat latest class action over casino room
rates
Major
casino-hotel operators in Atlantic City including Caesars
Entertainment and MGM Resorts have persuaded a U.S. judge
to dismiss a proposed consumer class action accusing them
and a revenue management platform of overcharging for room
rentals.
U.S.
District Judge Karen Williams in Camden, New Jersey, ruled,
opens new tab on Tuesday that the consumers had failed to
present enough evidence to let their price-fixing lawsuit
move ahead.
Williams
dismissed the consumers’ lawsuit with prejudice, meaning
it cannot be filed again. The case was part of a wave of
new lawsuits claiming the use of revenue management platforms
that rely on rivals' data can be deemed price-fixing.
The
judge’s ruling marked a second setback for plaintiffs
claiming that major hotels schemed to artificially jack
up room rates. Consumers in a related case have appealed
a Nevada federal judge’s order dismissing their lawsuit
against Wynn Resorts, Caesars and others.
In both
cases, the plaintiffs alleged hotel owners fed sensitive
internal information — such as real-time price and
occupancy data — to a shared software platform that
offered pricing recommendations.
The
hotels and the software maker, Cendyn, which was also a
defendant, have denied any wrongdoing.
Representatives
from Cendyn, Caesars Entertainment, MGM Resorts and Hard
Rock on Tuesday did not immediately respond to messages
seeking comment.
The
plaintiffs’ attorneys in the New Jersey case at law
firms Lite DePalma Greenberg & Afanador; Burns Charest;
and Susman Godfrey did not immediately respond to a similar
request.
The
consumers said in their lawsuit that the hotels used Cendyn’s
“Rainmaker” software “as their shared pricing
brain” that “does all the hard work for them.”
They
said “while the AI-driven technology at issue may be
fairly novel, the underlying conduct is not.” (Wires)
Gaming,
Hotel And Casino News: U.S
September
2024
New
Jersey Internet gambling sets new record at $198M in revenue,
but land casinos lag
Internet
gambling in New Jersey had its best month ever in August,
bringing in over $198 million in revenue even as most of
Atlantic City’s land-based casinos continued to win
less than they did before the COVID-19 pandemic. Figures
released Monday by the New Jersey Division of Gaming Enforcement
show that internet gambling brought in $198.4 million, the
highest monthly total ever recorded in the state and an
increase of nearly 28% from a year earlier. That was the
good news for Atlantic City’s gambling industry.
News
BetMGM
impresses in NFL Week One, Jefferies analyst says
BetMGM
handily outperformed the field in New York state in the
first week of NFL wagering, according to data published
September 15 in a Jefferies Equity Research investor note
penned by analyst James Wheatcroft. According to Wheatcroft’s
analysis, BetMGM grew its handle 54 percent from last year,
revenue 24 percent, and winning margins 8.2 percent. For
the market overall, the handle grew by 14 percent, but revenue
dropped 43 percent and margin was down 6.8 percent. FanDuel
recorded a seven percent decrease in handle and 54 percent
lower revenue.
News
llinois:
Casino revenue shoots up 3.1% in August after a slow summer
Illinois
casinos posted positive monthly revenue for the first time
since the spring. The state’s 15 casinos combined for
a win of $140 million in August, up 3.1% from July’s
total of $135.8 million. Revenue totals do not include online
casinos because iGaming is illegal in the Prairie State.
Illinois is a leading earner for land-based revenue and
sports betting handle (total amount bet). But, is nowhere
to be found in the world of online casinos. The state’s
legislators made two attempts to legalize IL online gaming
this year, but both fell short.
News
F1 not
moving the Vegas needle, Truist analyst says
“F1
stuck in neutral for now,” wrote Truist Securities
analyst Barry Jonas, leading off a September 16 investor
note on the subject of Las Vegas room rates. He deemed them
“fairly stable but soft” into the fourth quarter.
A Truist survey of Las Vegas hotel-room prices had shown
growth in August followed by slowness throughout the fall.
Jonas said these findings were congruent with MGM Resorts
International’s forward-looking commentary during its
second-quarter earnings call. Wrote Jonas, “While our
survey is just one facet of the market and can change, we
note continuing investor concerns around slowing growth
amidst tough comparisons.”
News
August
casino revenue $63 million
Virginia
(results) - Lottery Commission - The Virginia Lottery released
its report on casino gaming activity for the month of August
2024. There are three operating casinos in Virginia: HR
Bristol, Rivers Casino Portsmouth, and Caesars Virginia.
During August, gaming revenues from Virginia casinos totaled
$63.1 million. Hard Rock Bristol $15.9 million, Rivers Casino
Portsmouth $26.6 million, and Caesars Virginia $20.4 million.
Virginia law assesses a graduated tax on a casino’s
AGR, or wagers minus winnings, and $11.8 million in taxes
were paid to the Gaming Proceeds Fund.
News
MGM
getting more solar energy with rural Nevada solar farm
Nevada
(Las Vegas) - A solar farm in the remote Nevada desert will
double MGM International’s capacity to use solar energy.
It entered a power purchase agreement with a utility-scale
solar company to use its forthcoming facility in Lincoln
County. The company is expected to begin using that boost
in green energy in 2026. MGM uses 90 percent renewable energy
for 11 of its Las Vegas resorts’ daytime needs, the
company said, but the new solar farm and battery storage
facility will power 100 percent of daytime needs and some
of what’s needed for nighttime.
News
Three
Strip casinos get new top exec
Nevada
(Las Vegas) - Three casino properties on the Las Vegas Strip
will soon have a new boss following the company departure
of the trio’s former top executive. Ken Ostempowski
will be assuming the role of senior vice president and general
manager of Paris Las Vegas, Planet Hollywood and Horseshoe.
Ostempowski currently holds similar roles overseeing The
ROW Reno, a three-casino resort destination in Northern
Nevada operated by Caesars. According to Ostempowski’s
LinkedIn profile, he has held executive-level positions
in multiple gaming markets, including Las Vegas, the Gulf
Coast, the Midwest and Colorado.
News
Strip
resort reveals rare tier-match offer
Nevada
(Las Vegas) - For the first time since introducing a new
player rewards program, a Las Vegas Strip casino is offering
to upgrade gamblers’ loyalty cards to a comparable
level from other casinos. The Venetian casino-hotel is launching
a tier-match promotion that will allow customers to receive
a Venetian Rewards card status that is on par with or better
than what they currently have with another casino operator.
The Venetian Resort Las Vegas’ tier-match event begins
Oct. 1, according to a recent email, and will run through
Jan. 1.
News
Boyd
bets big on large sportsbooks even as mobile betting flourishes
Nevada
(Las Vegas) - The largest sportsbook operated by Boyd Gaming
Corp. may not be the place “where everybody knows your
name.” But that sentiment is the reason the company
(with its nine Las Vegas casinos) and other gaming operators
continue to invest millions of dollars into expanding or
modernizing large sportsbooks with massive viewing screens,
comfortable seating areas and food and beverage options.
Those expenditures happen even as more than 65 percent of
Nevada’s $8 billion sports gaming industry come through
mobile wagering accounts — bets made anywhere outside
the casino. “A sportsbook is more than just a place
to make wagers,” said Boyd Gaming Vice President of
Race & Sports Bob Scucci. “At our properties, the
sportsbook is the place where people come four or five times
a week. It’s where they go to meet their friends and
congregate.”
News
Opening
sportsbook with Jay-Z at Ocean Casino, Fanatics CEO Michael
Rubin explains Atlantic City’s appeal
Michael
Rubin’s love for Atlantic City goes back to when he
was about 12 years old. “The gambling age was 18 when
I was a kid,” the once-small kid from Philadelphia
recalled. “I remember when I was 12 years old, I went
to an Atlantic City casino, to Caesars. It was 40 years
ago. I won $2,500. I called my mom from a pay phone and
said, ‘Mom, I got great news! I just won $2,500!’
She asked how, and I said, ‘I’m in a casino in
Atlantic City,’ and she goes, ‘You’re grounded,
get home.’ That’s my favorite story.”
News
A jobs
boon from a casino at Manhattan’s Hudson Yards? Experts
aren’t betting on it.
When
casino giant Wynn showed off plans for its Hudson Yards
West casino proposal last month, it enlisted progressive
heavyweights to make the case that the venture would be
a jobs bonanza for poor and working-class New Yorkers. The
endorsements were full-throated and infused with hope and
promise. Leaders from the NAACP, National Urban League and
Win, New York City’s largest provider of family shelter
and permanent supportive housing, were among the groups
that said the proposal would bring significant career opportunities.
News
Maine’s
first in-person sports betting bar opens in Portland
Maine’s
first, in-person sports-betting bar is officially open.
“Oddfellahs” opened on Market Street on Friday…
The bar has partnered with Caesars Sportsbook, one of two
sportsbooks authorized under Maine’s new law to run
sports betting, the other being DraftKings. The founder
of “Oddfellahs” says there’s more to the
bar than just sports betting.
News
IIlinois
Gaming Board renews Rivers Casino’s license
The
Illinois Gaming Board on Thursday renewed Rivers Casino’s
gaming license as well as Hawthorne Race Course’s master
sports wagering license. Both renewals by the state agency
came via unanimous 4-0 votes and are good for four years,
with Rivers now licensed through August 2028 and Hawthorne
through September of that year.
News
Bellagio
removing trees as F1 prep begins on the Las Vegas Strip
The
Las Vegas Grand Prix is around the corner and the Bellagio
casino-hotel is days away from starting race preparations.
On Monday, work crews will begin removing the trees in front
of the Fountains of Bellagio along Las Vegas Boulevard to
make room for the construction of the Bellagio Fountain
Club (an F1 spectator area for VIPs). (Wires, A.I News)
Sydney,
Australia
24 hours
to fix a casino: Star chases cash to fend off insolvency
-
September 1, 2024
The
Star Entertainment Group is chasing hundreds of millions
of dollars in extra funding from investors as the embattled
casino operator fights the clock to stave off financial
collapse.
Discussions
with its major investors, such as pokies billionaire Bruce
Mathieson, continued deep into Sunday evening ahead of the
expected release of Star Entertainment’s annual results
on Monday.
A fresh
injection of cash into the business would allow Star to
secure its ongoing viability after a second probe into the
company’s culture found it unsuitable to hold a casino
licence.
Mathieson,
with an estimated wealth of $2.5 billion, is one of the
investors to have backed Star’s previous rounds of
capital raising last year, which netted close to $1.5 billion.
The casino operator’s business is currently worth just
$1.3 billion, based on the last trading price of its stock
at 45 cents.
Fund
manager Perpetual has been another willing backer of Star
Entertainment in recent months. Mathieson owns a 9.6 per
cent stake but recently received regulatory approvals to
acquire up to 20 per cent of Star’s shares. Meanwhile,
Perpetual lifted its stake to 8.8 per cent in May but would
need regulatory approval to lift its stake above 10 per
cent.
The
next 24 hours will be crucial for the casino operator, which
was forced to delay the announcement of its full-year results
on Friday. Star Entertainment needs to show the market it
has the funding needed to stabilise its underperforming
casino business while also fixing the probity issues that
have left the company’s retention of its Sydney casino
licence in doubt.
According
to reports in the Australian Financial Review, Star is also
talking to its lenders about debt relief and possible fresh
funding. It is also said to be talking to the NSW and Queensland
governments about tax relief.
The
company was sounding out investors for a $300 million raising
last week via a convertible notes issue before the final
report of a second inquiry into its Sydney casino landed
from Adam Bell, SC, on Friday. While the report said Star
Entertainment was still unfit to hold a licence, it stopped
short of recommending the licence be revoked.
Star’s
latest results are expected to reveal massive writedowns
of its newly opened Brisbane casino, Queen’s Wharf,
which cost nearly double the initial $2 billion estimate,
and at a time when casinos are underperforming across the
country due to the cost of living crisis and anaemic tourist
interest. The Queen’s Wharf precinct is a joint venture
with Chow Tai Fook Enterprises and Far East Consortium.
Star
Entertainment chief executive Steve McCann, who previously
led Crown Resorts through to its takeover by US private
equity group Blackstone, joined the company in June.
“I
recognise that there are many complex issues and challenges
for the company to address,” McCann said at the announcement
of his appointment.
“I
am committed to working with the board and the various stakeholders
to help drive change, restore confidence and achieve a sustainable
resolution.”
Star
Entertainment will also have to contend with the soon-to-be-implemented
cashless gaming cards, which are designed to stop money
laundering and address problem gambling on poker machines
but will hit the company’s pokie revenues in Sydney.
Earlier
this year, Star issued a downgrade saying it now expects
to generate just $1.68 billion in total revenue from its
two casinos in Queensland and its casino in NSW this financial
year. This is a fall from $1.8 billion in 2023, which was
originally thought to be the low point.
The
Star recorded a total loss of $2.44 billion in 2023. Its
then CEO, Robbie Cooke, was adamant at the time the group
would do better this year.
On top
of its underperforming casino business and the remediation
needed to retain its casino licence, Star also faces further
fines, including from the money laundering regulator AUSTRAC.
Last year, Star provided for fines and penalties of $150
million from alleged non-compliance with anti-money laundering
laws in its financial report for the half-year ended December
31, 2022, after ASIC raised concerns.
Gaming
analysts from Macquarie estimate the AUSTRAC fine could
hit $350 million, but another significant issue is what
cost-cutting is needed to keep it in line with structurally
lower revenues next year.
“Star
Entertainment has attractive long-duration casino licences
across Queensland and NSW, but there are near-term uncertainties
on the earnings, and a long list of outstanding issues which
need to be cleared before we can get comfortable with the
investment thesis,” Macquarie said.
Star
also faces class action lawsuits on behalf of investors
who have watched the stock plunge from a pre-pandemic high
of $4 to just 45¢ as of last week.
Star
declined to comment on Sunday. (Wires)
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Gaming,
Hotel, Casino and Sports News: USA
July
2024
American
Gaming Association announces 2024 Gaming Hall of Fame inductees
The
American Gaming Association Wednesday announced the Gaming
Hall of Fame Class of 2024, honoring three individuals for
their contributions to the industry. The new members are:
Jim Allen, Hard Rock International Chairman, Seminole Gaming
CEO, and former chairman of the AGA. Alan Feldman, UNLV
International Gaming Institute Director of Strategic Initiatives
and Distinguished Fellow in Responsible Gaming, and a former
executive with MGM Resorts International. Debi Nutton, Everi
Holdings Board Member, executive coach-consultant, and former
casino operations executive. (CDC, AI News, Wires)
News
Las
Vegas: Downtown Grand hotel-casino seeks buyer
A downtown
Las Vegas hotel-casino is looking for a buyer. Downtown
Grand, the 1,124-room property one block north of the Fremont
Street pedestrian mall, is on the market, multiple industry
sources confirmed. The property is owned by real estate
investment firm CIM Group and operated by Fifth Street Gaming,
a Las Vegas-based operator whose portfolio includes the
Silver Nugget and Ojos Locos Sports Cantina and Casino in
North Las Vegas and the Golden Tiki restaurant in Chinatown.
Fifth Street Gaming and the property’s agent...did
not respond to multiple requests for comment Tuesday.
News
New
Jersey fines DraftKings $100K for reporting inaccurate sports
betting data to the state
In one
of the most sternly worded rebukes they have ever issued,
New Jersey gambling regulators have fined DraftKings $100,000
for reporting inaccurate sports betting data to the state,
which it called “unacceptable conduct” that demonstrated
weaknesses in the company’s business abilities. The
errors resulted in regulators having to post corrected financial
data for several months, something that had not happened
in 13 years. The mistakes involved overstating the amount
of money wagered on multi-tiered bets, or parlays, and understating
other categories of wagers.
News
Golden
Nugget Lake Tahoe hotel renovations set to begin
The
Golden Nugget Lake Tahoe Hotel and Casino is moving ahead
with major renovations under its new owner, billionaire
Tilman Fertitta. Last August, Feritta’s Golden Landry’s
LLC and GN NV Holdings acquired the Hard Rock Lake Tahoe
from Paragon Gaming with cash, then rebranded it. Fertitta’s
attorney Sonia Vermeys with Brownstein Hyatt Farber Schreck
told the Nevada Gaming Control Board Wednesday that the
her client had always intended to finance the transaction.
In December, the owner of the land entered into a term-loan
agreement with Deutsche Bank.
News
Bermuda
regulator’s reports show efforts to resolve casino
industry roadblock
Failed
efforts by the Bermuda Gaming Commission to solve the banking
issues that have held up the launch of a casino industry
are described in newly released annual reports. David Burt,
the Premier, finally tabled the publicly funded regulator’s
reports for 2020 to 2023 in the House of Assembly last Friday,
after falling behind in sharing them with taxpayers. They
shed some light on how the commission has tried to get banks
to handle casino transactions — a necessity for the
sector to get up and running — but even the most recent
report, for 2022-23, is out of date.
News
Bally’s
Chicago secures casino financing, unveils new hotel design
One
week after taking possession of the Freedom Center printing
plant, Bally’s has secured the needed financing to
supplant it with a $1.7 billion Chicago casino complex on
the 30-acre site in River West. Bally’s announced a
deal Friday with Gaming and Leisure Properties, a Pennsylvania-based
real estate investment trust, to provide $940 million to
fund the construction of the permanent casino. In addition,
Bally’s has also finalized redesign of its planned
500-room hotel tower, which has been shifted from north
of the casino to the south to avoid damaging city water
pipes along the Chicago River, pending approval from the
city’s planning department.
News
Walmart
is preparing major push into lottery sector
At its
annual summit in early April, retail giant Walmart convened
various lottery industry vendors and suppliers and revealed,
more or less: Walmart is preparing a push from lottery bystander
to active participant and competitor, with plans to launch
an app that it may eventually equip with iLottery capabilities.
The message was conveyed in meetings with the likes of IGT,
Scientific Games, NeoPollard, and others currently working
with the retail behemoth. Walmart representatives unveiled
a slogan aimed at the lottery industry, “Be in it to
Win it,” according to presentation materials from the
Bentonville, Arkansas summit that were reviewed by Lottery
Geeks.
News
Colorado:
RCI Hospitality pulls casino license applications in Colorado
Entertainment
company RCI Hospitality Holdings has withdrawn its applications
to operate casinos from the Colorado Division of Gaming.
The company, known for operating strip clubs and nightclubs
like Rick’s Cabaret and restaurants like Bombshells
Restaurant and Bar, also disclosed its intention to develop
its share buyback program. The decision follows the NASDAQ-listed
company’s acquisition of three properties in Central
City for potential casino developments, which will not proceed
as planned. The company also intends to sell other properties
that are no longer required, including a 20,000-square-foot
building and another site initially intended for a 30,000-
to 40,000-square-foot development.
News
Las
Vegas: Tropicana operators take the next step toward implosion
The
Tropicana is one step closer to coming down, after property
operators submitted a commercial implosion permit application
with Clark County officials on Thursday. A permit application
shows Bally’s Corp., operators of the former Rat Pack-era
resort, want to implode a 22-story concrete tower and a
22-story steel tower in a “single explosive event.”
A spokesperson for Bally’s said the company is still
expecting an October implosion. No other details were available.
The company tasked with the implosion will be Controlled
Demolition Inc., according to the application. (CDC, AI
News, Wires)
News
Gaming,
Casino and Property News
Nevada
sets May gaming revenue record
In Case
You Missed It
June
27, 2024
Nevada
set a May record with $1.32 billion in gaming revenue. It
was also the eighth highest total in history as the Strip
continues to benefit from a strong events calendar that
boosted hotel occupancy and room rates.
The
$1.32 billion rose 2.5% or $31.6 million versus May 2023.
For the year, total win is up 3.2% or $202 million, according
to the Nevada Gaming Control Board.
Of that,
the combined total for the Las Vegas Strip and the balance
of Clark County are up $207.2 million or 4.9% for the year.
The Strip alone is up 3.5% for the year.
The
Strip’s gaming win of $742.5 million increased 3.7%
or $26.6 million and accounted for 84.1% of the statewide
increase in May. Statewide win excluding the Strip increased
$5 million or 0.9%, according Michael Lawton, senior economic
analyst for the Gaming Control Board.
Lawton
said the Strip benefited from a very robust event calendar
in May. Harry Reid International Airport recorded its second
highest month in passenger count in history in May.
The
Las Vegas Convention and Visitors Authority reported 3.65
million visitors in May, a 4.6% increase over May 2023’s
3.49 million. The LVCVA cited the Electric Daisy Carnival,
which typically attracts hundreds of thousands of attendees,
and convention attendance of 461,900, up 1.8%.
Lawton
said special events or other items of note included Canelo
Alvarez fighting Jaime Munguia at the T-Mobile Arena on
May 4 for the undisputed Super Middleweight world title.
Justin Timberlake performed at the T-Mobile Arena for his
“Forget Tomorrow” world tour on May 10. The Rolling
Stones played Allegiant Stadium on May 11. The MGM Grand
Garden Arena featured Pearl Jam for two nights on May 17-18.
Maroon 5 returned to Dolby Live at Park MGM May 17-31. Garth
Brooks and Adele were both in town for their residencies
at the Colosseum at Caesars Palace for multiple dates during
the month of May. Carrie Underwood returned to the Resorts
World Theatre from May 22-31.
The
strong event schedule helped fill hotel rooms; overall occupancy
was 86.1%, up from 84.4% a year ago. Weekend occupancy was
93.4%, up from 93.2%. Strip occupancy hit 88.5%, up from
87%. The average daily room rate on the Strip was $212,
up 9% from $194 a year ago, according to the LVCVA.
The
Strip’s slot win totaled $402.9 million and increased
2.6% or $10.1 million with a 6.5% or $306.3 million increase
in coin-in. Slot hold was 7.99% versus 8.29% last year,
Lawton said.
The
Strip’s games win totaled $339.5 million and increased
5.1% or $16.4 million and drop increased 4.9% or $100 million.
Games hold percentage was 15.8% versus 15.7% last year.
Strip
baccarat win totaled $122.1 million, but was down $8.7 million
or 6.6%. Volume totaled $758.1 million, down 2.4% or $18.2
million. Hold was 16.1% versus 16.9%. Total win excluding
baccarat increased by 6% or $35.2 million.
Strip
twenty-one win of $93.2 million increased 17.6% or $13.9
million. Volumes totaled $615.3 million and increased 10.43%
or $58.1 million. Hold percentage was 15.15% versus 14.23%
last year.
Strip
roulette win of $37.4 million increased 55.5% or $13.3 million.
Volumes totaled $185.9 million and increased 28.7% or $41.5
million. Hold percentage was 20.09% versus 16.63% last year.
Locals
casinos generate $277.7 million in revenue in May, up 5.1%
year over year. Revenue is up 10.3% for the second quarter
compared to a year ago.
Downtown
casinos had $74.8 million, up 1.6% over $73.6 million in
May 2023. North Las Vegas had $24.7 million, up 2.1% over
last year. Downtown’s occupancy reached 76.1% in May,
up from 71.4% a year ago. Room rates were up 15.4% to $124.92
Elsewhere,
Laughlin had $36.9 million, down 21.4% from $46.9 million
a year ago. Mesquite had $16.3 million, up 8.5%. Reno had
$65.2 million, down 1.1%. Sparks had $15.3 million, up 2%.
South Lake Tahoe had $17.6 million, down 9.4%.
Lawton
said Laughlin was impacted by slot-revenue timing in May
2023, as April 2023 ended on a Sunday and revenue was subsequently
reported in May 2023. Laughlin casinos also experienced
some softness in slot volume, down 5.7% even with an additional
weekend day. Total win of $36.9 million was down 21.4% or
$10.1 million. For the year, Laughlin is down 6.2%. Slot
win was down 23.4% or $10.2 million. Slot coin-in was down
5.7% ($27.9 million), while the hold was 7.2% versus 8.9%.
Statewide,
Nevada sportsbooks won $36 million, up 19.8% or $6 million
compared to May 2023 on a hold percentage of 7% versus 5.7%
last year. Sportsbook wagers totaled $515.1 million, down
2.3% or $12 million compared to last May, when $527 million
was wagered statewide. Mobile wagers totaled $351.2 million,
down 1.9% or $6.7 million and accounted for 68.2% of total
wagers, Lawton said.
Statewide
slot win of $886.1 million increased 1% or $8.5 million
and coin-in of $12.3 billion was up $501.2 million or 4.2%.
Slot hold percentage was 7.19% versus 7.43% last year.
Statewide
table, counter, and card games win of $434.3 million increased
5.6% or $23.1 million and games drop of $2.9 billion, increased
4.8% or $132.6 million from May 2023. Games hold percentage
was 15.13% versus 15.01% last year.
Statewide
baccarat win of $126.4 million decreased 5.5% or $7.4 million
and baccarat drop of $780.3 million decreased 1.8% or $14
million. Baccarat’s hold percentage was 16.20% versus
16.84% last year. Statewide total win excluding baccarat
increased 3.4% or $39 million. This is the first decrease
in monthly baccarat win since June 2023, ending a streak
of 10 consecutive increases.
Statewide
twenty-one win of $116.8 million increased 11.4% or $12
million. Volumes totaled $788.1 million and increased 12.9%
or $90.2 million. Hold percentage was 14.82% versus 15.02%
last year.
Statewide
roulette win of $44.1 million increased 45.9% or $13.9 million.
Volumes totaled $217.6 million and increased 24.9% or $43.3
million. Hold percentage was 20.29% versus 17.37% last year.
(CDC, AI News, Wires)
UK teen
arrested in connection to global cybercrime group that targeted
MGM Resorts
- July 19, 2024
LAS
VEGAS
Police
in England arrested a teenager in connection with a global
cyber online crime group that targeted several companies,
including MGM Resorts, according to the FBI office in Las
Vegas.
West
Midlands police arrested a 17-year-old boy from Walsall,
a town in West Midlands, England, on Thursday, July 18,
the bureau posted on X Friday morning.
The
arrest was made by officers from the Regional Organised
Crime Unit for the West Midlands (ROCUWM) and the National
Crime Agency in coordination with the FBI, according to
West Midlands police.
Officers
took the suspect, who was not named, into custody on suspicion
of blackmail and computer misuse act offenses. He was released
on bail while West Midlands police continued its investigation.
Officers
recovered evidence that they said included several digital
devices that will be forensically examined.
The
suspect’s arrest is part of a global investigation
into a large-scale cyber hacking community that targeted
major companies, including MGM Resorts.
“These
cyber groups have targeted well-known organizations with
ransomware and they have successfully targeted multiple
victims around the world taking from them significant amounts
of money,” Detective Inspector Hinesh Mehta, cyber
crime unit manager at ROCUWM, said in a West Midland Police
release.
On Sept.
11, 2023, a “cybersecurity issue” affected some
of the systems for MGM Resorts International. The company
shut down some of its systems to help protect the company’s
data.
Nearly
ten days later, MGM Resorts posted on social media stating
that all operations returned to normal.
“We
know first-hand the damage these criminals can do and the
importance of working with law enforcement to fight back,”
a spokesperson from MGM Resorts said in the release. “By
voluntarily shutting down our systems, refusing to pay a
ransom and working with law enforcement on their investigation
and response, the message to criminals was clear: it’s
not worth it.”
2023
High
Stakes: The ‘life-or-death’ battle over a company
name
Two stars of Australia’s new economy – the similarly
named share trading platform Stake and online cryptocurrency
casino juggernaut stake.com – are locked in a life-or-death
court battle over naming rights amid growing concerns the
gambling outfit has major plans for its home country.
Stake
the share platform launched legal action in the Federal
Court in August seeking to enforce its trademarks and stop
stake.com, a multibillion-dollar enterprise, from using
that name for its business in Australia.
The
fast-growing Sydney-based share trading platform, the third-largest
broker in the country, alleges that the casino group stake.com
has been breaking Australian consumer law and has misled
consumers through the use of its brand in Australia and
its marketing, including its sponsorship of the Alfa Romeo
team and the sale of apparel.
Stake
the share trading platform, which owns the URL stake.com.au,
alleges stake.com’s use of the name in Australia has
potentially led to consumers believing the two brands are
related when they are not.
The
share trading platform Stake, founded in 2017 by entrepreneurs
Dan Silver and Matt Leibowitz, alleges there is a threat
that more consumers could be misled if stake.com is allowed
to continue with its plans to grow its business significantly
in Australia under the brand name Stake.
The
casino group, led by Melbourne-based twenty-somethings billionaires
Ed Craven and Bijan Tehrani, is expected to seek to have
the matter summarily dismissed.
A spokesperson
for stake.com said: “We are aware of a frivolous claim
lodged in the Federal Court by Stakeshop, which in part
claims that our global Formula One team sponsorship impinges
on their ability to sell trucker hats.”
“We
are proud of the global stake.com brand. As a group, we
abide by the laws of the countries in which we operate,
and do not offer our stake.com platform to Australian customers.
We believe the claim has no legal merit and will vigorously
defend our rights.”
The
court case has shed new light on stake.com’s expansion
plans for Australia, where it remains blocked to Australian
users.
Court
documents reveal the casino group has sought to buy the
stake.com.au website from the sharemarket trading platform
business. According to the court documents, the casino group
has also registered several Australian website domains for
its Australian expansion and applied to register a slew
of trademarks including Stake Australia, Stake Bet and Stake
Casino.
The
Federal Court action comes after years of simmering tensions
between the two groups over the use of stake.com’s
name in Australia.
Stake.com
was established in 2017 but flew under the radar in Australia
until late 2021, when this masthead revealed the local origins
of the business that had grown to be one of world’s
largest online casinos, processing hundreds of billions
of bets on sports, virtual table games and online slot machines.
In early
2022, stake.com signed hip-hop megastar Drake as its lead
ambassador. Later in 2022 it signed a multi-year deal to
become lead jersey sponsor for English Premier League team
Everton FC as well as its sponsorship of Alfa Romeo’s
F1 team.
The
significant increase in stake.com’s marketing and media
presence was noticed at the share trading platform group
that built its user base during the COVID-inspired boom
in Gen Y and Gen Z investors, thanks in part to its ultra-low
cost brokerage fee model, savvy marketing and the broadening
into other financial services including a superannuation
product.
A spokesman
for Stake the share trading platform said that since the
group was founded in Australia it had built a client base
of more than 500,000 and more than $2.5 billion in assets
under management.
“Over
the past six years, we have established a trusted and culturally
relevant Australian brand that reflects our dedication to
meeting customer needs. It permeates all parts of our business,
spanning products, content, internal culture, customer interactions
and much more, making it our most valuable asset. We are
committed to protecting the Stake brand and the high level
of consumer trust associated with it,” the spokesman
said.
“We
are concerned by the threatened use of the Stake brand in
Australia by stake.com in relation to gambling, casino and
sports betting services, due to the potential for customer
confusion and damage to our brand and reputation.”
Stake.com
is not available in Australia but according to court documents,
the group is already making arrangements for a major expansion
in this country and is seeking a sports betting licence.
In October
2022, stake.com casino executive Brais Pena Sanchez contacted
Stake share trading founder Silver on LinkedIn and arranged
a video conference meeting where the pair discussed Stake
the share platform selling its Australian URL, stake.com.au,
to the Curacao-registered, Australian-operated casino group.
During
those discussions, Sanchez – the casino group’s
chief strategy officer – informed Silver that stake.com
planned to launch in Australia under the name Stakebet,
or similar, according to court documents. A deal never ensued
and the website remains owned by the share trading platform.
Tensions
flared again in early 2023 after stake.com the casino was
announced as the new team sponsor for Formula 1 team Alfa
Romeo, sparking a flurry of legal letters between the two
groups ahead of the Melbourne race.
According
to the court documents, the casino group’s lawyers
assured the share trading Stake that it would not use its
logo in conjunction with the Melbourne Grand Prix and did
not intend to display the name on any vehicles or uniforms
or as part of the Alfa Romeo team name.
However,
the share trading Stake alleges that during the four days
of the Grand Prix, Stake casino logos appeared on banners
for official team merchandise, the team display and on signs
at the event and in the race program.
In May,
Stake.com was applying to register a large number of new
trademarks for goods and services. This included Stake Australia,
Stake Bookie, Stake Betting, Stake Gaming, Stake Esports,
Stake Casino, Stake Sportsbook, Stake Bet, Stake Punt, Stake
Sports, Stake Pokes and Stake Slots.
The
casino group has also registered a series of Australian
website names under the “.au” domain including
stakebet.au; stakecasino.au, stakesports.au and playstake.au.
The
case continues.
Crown
to launch digital self-exclusion scheme for casinos - July
2023
People
with gambling problems will be able to ban themselves from
Crown casinos over the internet instead of having to do
so in person, as part of a wider overhaul of the group’s
approach to harm minimisation.
Crown
Resorts’ new safer gambling program also includes the
establishment of a dedicated gambling policy team, which
will monitor customer playing behaviour and create interventions
to better prevent gambling harm from occurring.
Crown
boss Ciaran Carruthers joined the business last year following
an overhaul of Crown’s management, after a series of
bruising inquiries into the company. Carruthers, who has
led other global casino groups including Wynn Macau, said
the new leadership of Crown was committed to making gambling
safer, even if it meant less turnover in its casinos.
“I
have been in this business for 34 years and I can tell you
– no one does this,” Carruthers said.
“It
is critically important to me that when I look at the long-term
viability of this business that people see our resorts as
entertainment to enjoy safely.”
Under
the changes, customers will be able to block themselves
from entering a Crown casino through a new digital self-exclusion
portal. Those who wanted to ban themselves from Crown venues
were previously required to visit, in person, a designated
responsible gambling centre run by the group.
The
group has also moved to cashless gaming at Crown Melbourne
and Crown Sydney – a condition of its temporary gaming
licences in NSW and Victoria– as well as introducing
$10 maximum bet limits on poker machines at Crown Perth.
The technological overhaul required to facilitate the changes
has so far cost the business $13 million.
Carruthers
pointed to changes Crown has already made which go beyond
government regulation, such as encouraging customers to
take breaks every three hours, as an indicator of its commitment
to shifting problem gambling patterns.
The
group said it wanted to establish advisory panels to work
with state regulators and community groups to improve gambling
harm education and share its research.
Carruthers
conceded some aspects of its new approach to harm minimisation,
called Crown PlaySafe, would not be welcomed by heavy gamblers.
But he argued the changes would make the casinos more appealing
to the general public.
Crown’s
new head of gambling policy research, Dr Jamie Wiebe, said
the most critical shift in the groups gambling policy was
a move away from harm minimisation to prevention.
“We
want to prevent a problem from ever happening,” she
said.
The
new program was unveiled just weeks after the Federal Court
determined Crown will pay one of the biggest penalties in
Australian corporate history to the financial crimes watchdog,
after past anti-money laundering and counter-terrorism failings
in its Perth and Melbourne casinos.
The
$450 million fine is about five per cent of Crown’s
last listed market capitalisation before it was taken private
by Blackstone Capital for $8.9 billion in May last year.
In 2019,
an investigation by this masthead and 60 Minutes revealed
Crown had been infiltrated by international criminal syndicates
and money launderers.
Crown
was forced to overhaul its board, management and procedures
to satisfy the regulators, who approved a conditional licence
for Crown to operate its Barangaroo casino in June 2022.
The conditional licence is valid until the end of this year.
Carruthers
said the integrated hospitality offerings at Crown meant
the casino could afford to embrace the shift.
“I
want people to enjoy the experience of our casinos whether
they’re coming for dining, casino or retail. I’m
fairly agnostic across which one of those experience or
how many of those experiences you want to enjoy,” he
said.
Reclusive
Sydney gambling mogul emerges as kingmaker in South Africa
- September 2023
Reclusive
online gambling mogul Martin Moshal is playing an increasingly
influential role in a push to oust the South African government.
Mr Moshal,
who lives on the exclusive Sydney Harbour row of Camp Cove
alongside shopping centre billionaire Steven Lowy, is not
on many rich lists but has made a fortune from online casino
technology.
Herman
Mashaba is the leader of ActionSA, one of a handful of opposition
parties Mr Moshal has backed in the lead up to the 2024
South African national election. Mr Mashaba, known for taking
a tough line on immigration and endorsing hard labour for
prisoners, is hoping the gambling tycoon will continue his
support.
“I
wish he won’t give up on us and help us democratically
remove the [incumbent African National Congress] and bring
about a peaceful transition... please help ActionSA,”
Mr Mashaba said in an interview with The Australian Financial
Review.
“I
have been lucky to have known Martin long before I went
into politics,” he added. “I approached him and
he was willing to back me up because he knows me as a capitalist...
Martin was one of the first to come to the party.”
President
Cyril Ramaphosa’s social democratic African National
Congress party is set to come under pressure next year amid
South Africa’s dire economic troubles. A senior party
official has warned the country could become a failed state.
Mr Moshal
is the largest individual political donor in South Africa
in the last two years. He has given 46.5 million rand ($3.8
million), according to electoral records analysed by My
Vote Counts, a non-profit advocating for more transparency
in politics.
“Given
the amounts donated it has become clear to us he now has
a large stake in our politics,” said Robyn Pasensie,
a researcher at the organisation.
The
size of Mr Moshal’s wealth is unknown. He is extremely
private and only admitted to his ownership of online gambling
giant Betway after UK journalists traced his ownership back
to offshore trusts. Mr Moshal did not respond to a request
for comment.
Aside
from ActionSA, Mr Moshal has donated to the Democratic Alliance
(DA), Build One South Africa and said he also intends to
support the Inkatha Freedom Party. Mr Moshal is ActionSA’s
biggest backer. The Australian Financial Review is not suggesting
Mr Moshal supports the party’s policies.
“I’m
not saying these parties are all perfect, but we shouldn’t
let perfect be the enemy of good... They are all far better
than the government we have today,” Mr Moshal told
The Jewish Report earlier this year.
“Pirkei
Avot was my late dad – John Moshal’s – favourite
part of the Talmud within which Rabbi Tarfon is quoted as
saying, ‘It’s not up to you to finish the task,
but you aren’t free to avoid it’.”
Mr Moshal
said he believed South Africa needed a new government and
was on its way to becoming a failed state.
“[This
is a] government that’s corrupt, cannot provide basic
security and opportunity to its citizens... we need the
change of government and leadership that these parties can
provide.”
ActionSA
is known for advocating for life sentences and hard labour
for serious offenders and also wants to repeal the ANC’s
Broad-based Black Economic Empowerment (B-BBEE) policy,
a form of affirmative action introduced post-apartheid.
“Martin
knows my views on racial policies and how dangerous they
are,” said Mr Mashaba, who started off in business
and was the founder of African hair care brand, Black Like
Me.
ActionSA
has also been vocal on immigration, views labelled as “xenophobic”
by some critics and politicians.
“We
recognise that South Africa was built... on the back of
migrants,” said Mr Mashaba. “But they must come
here legally... you break our laws, we will send you back
to your country, the country where you came from.”
One
of South Africa’s main economic problems is mismanagement
and corruption inside the country’s electricity utility
Eskom. The utility has been forced to implement rolling
blackouts, which have further stymied economic growth.
“If
Eskom cannot run on a commercial basis then it must die
a natural death,” Mr Mashaba said, adding changes were
needed to give other companies the opportunity to compete.
Mr Moshal’s
Entrée Capital is one of Israel’s most active
funds in the Israeli VC space. He is the beneficiary of
a trust which is the largest individual shareholder in Super
Group, which became the parent of Betway and online casino
brand Spin after a 2022 listing. The group reported net
gaming revenue of €1.3 billion ($2.1 billion) in 2022.
“Moshal
is one of the least visible betting entrepreneurs in the
world,” Guardian reporter Rob Davis wrote in his book
Jackpot: How Gambling Conquered Britain.
“Moshal
made much of his fortune from his home in Durban where he
patented a series of technological solutions for the online
gambling world and developed them via his company Microgaming.
The company has since become one of the industry’s
leading software players”
A philanthropist,
he sits on the capital management advisory committee of
Sydney’s Moriah College, alongside Steven Lowy and
former Babcock & Brown chief executive Phil Green. He
is also a life trustee of the Moriah Foundation and previously
donated to Israel’s SpaceIL project attempting to land
spacecraft on the moon.
SkyCity puts aside $45m for potential AUSTRAC penalty -
August 2023
SkyCity
Entertainment set aside $45 million for a penalty if it
is convicted of breaches of anti-money laundering and counterterrorism
laws.
The
financial crimes watchdog, AUSTRAC, lodged proceedings against
SkyCity in December over alleged serious and systemic non-compliance
with the laws at its Adelaide casino.
SkyCity
said on Monday it was difficult to determine the size and
timing of the penalty, given the proceedings are in the
early stages. But it decided to lodge a $45 million provision
on the basis that each breach attracts a maximum civil penalty
of between $18 million and $22.2 million.
“Estimating
the potential exposure to penalties with any degree of accuracy
at this stage of that ongoing process remains challenging,
particularly given the outcome is highly dependent on a
range of factors which are not yet known,” a statement
said.
AUSTRAC
has alleged “serious noncompliance” with anti-money
laundering laws against SkyCity, claiming the company allowed
59 suspicious patrons to churn more than $4 billion in dirty
cash through its Adelaide casino. The independent review
is on hold because of the Federal Court action.
The
company cut full-year earnings expectations at an investor
day in May, with a slowdown in revenue from the international
business and rising legal and compliance costs related to
a crackdown on money laundering weighing on its bottom line.
Analysts have provisioned about $50 million for the AUSTRAC
fine, but there is no guarantee that will be enough.
In late
May, SkyCity announced it would hire an independent expert
to review its anti-money laundering and counter-terrorism
programs. It is still waiting for South Australia’s
investigation into whether it should hold a casino licence
to recommence.
“Judgements
in civil penalty proceedings bought by AUSTRAC to date demonstrate
that the Court’s determination of the appropriate penalty
... is very specific to the fact in each case and that the
Court will have regard to a broad range of factors,”
SkyCity said.
SkyCity’s
provision announcement coincided with a $45.6 million write-down
of the Adelaide casino licence, which was attributed to
the value and timing of future discounted cash flows.
The
company said the impairment and provision were non-cash
and would not affect earnings for fiscal year 2023. Earnings
before interest, tax, depreciation and amortisation remain
in line with guidance of $NZ300 million ($276.6 million)
to $NZ310 million.
SkyCity’s
provision comes a month after the federal court agreed on
rival casino operator Crown’s $450 million fine for
breaches of anti-money laundering and counter-terrorism
laws. The fine is being paid over a two-year period without
interest.
Shares
closed on Friday at $2.09.
Hotel room rates plummet for F1 Las Vegas Grand Prix weekend
- September 2023
Hotel
room rates for Las Vegas Grand Prix weekend have fallen
by nearly 60 percent in some cases since they were first
posted last fall. But an industry expert says that does
not necessarily mean interest in the event is failing to
meet expectation.
When
select Las Vegas resorts in November 2022 opened their booking
schedules for race weekend, listed prices were as high as
they have been seen in the city’s history. While still
at higher than normal rates, a major decrease has occurred.
When
a drop in booking pace occurs, it automatically triggers
revenue management systems to suggest the lowering of room
rates, according to Dr. Mehmet Erdem, professor of hotel
operations and technology at UNLV’s William F. Harrah
College of Hospitality.
Pennsylvania online casinos cross $5 billion in lifetime
revenue - September 2023
Business
is booming in Pennsylvania. The Keystone State is the clear
market leader when it comes to online casino revenue within
the US. After August’s total of $171.9 million, Pennsylvania
surpassed the $5 billion threshold for lifetime revenue.
Pennsylvania
online casinos are constantly upgrading and adding new content,
and customers are responding. It doesn’t appear the
market will be slowing down anytime soon, either.
Pennsylvania
has set the US online casino revenue record four times over
the last 11 months, and almost did so again. August’s
revenue total of $171.9 million came second to March’s
figure of $181.5 million. It was the second-best month of
all time for any state with legal online casinos.
Atlantic City: Five-year turnaround of Ocean Casino Resort
among city’s greatest successes - September 2023
In the
winter of 2019, if any New Jersey sportsbook had tried to
offer odds on the Atlantic City casino hotel then known
as Ocean Resort Casino making it through another summer,
no gambler in their right mind would have taken the bet.
Fast
forward to the end of summer 2023, and the property now
called Ocean Casino Resort is one of the city’s best
performers. In fact, an argument can be made that Ocean’s
rise to the upper echelon of the Atlantic City casino market
is the most remarkable turnaround of any gambling parlor
in history.
From
its failed origins as Revel Casino Hotel to its seemingly
doomed trajectory in February 2019, the $2.4 billion casino
at the north end of the AC Boardwalk felt almost cursed
(if you believe in that kind of stuff). But, apparently,
the gambling gods decided Ocean was deserving of a better
fate.
Once shunned by casino operators, responsible gaming campaign
turns 25
At a
time when problem gambling matters were rarely mentioned
in gaming company boardrooms, Harrah’s Entertainment
decided the issue needed to be raised on casino floors.
But
it wasn’t just rival corporate executives that looked
askance at the idea of employees learning how to spot signs
that a customer might have a gambling problem.
“Our
own lawyers tried to block it,” recalled Jan Jones
Blackhurst, who was then a Harrah’s senior vice president.
With the support of company CEO Phil Satre, she led Harrah’s
launch of the casino industry’s first responsible gaming
initiative in the mid-1990s.
“We
had employees that wanted to be educated on the subject.
They wanted to be able to help,” said Jones Blackhurst,
who completed two terms as Las Vegas mayor before joining
Harrah’s. “Maybe because I came out of politics.
You have a responsibility to your communities, your customers
and your employees. We believed it was the right thing to
do.”
Sportsbooks ratchet up targeted advertising at start of
NFL season
Shortly
after the NFL forged authorized gaming partnerships with
a host of leading sportsbooks in the 2021 offseason, operators
began flooding the airwaves with a series of humorous spots
that featured celebrities hawking their products.
Caesars
Sportsbook spent lavishly on an ad package starring the
Manning Brothers and actor J.B. Smoove as the eponymous
emperor. During Super Bowl LVII last February, Kevin Hart
expressed his displeasure for “taking the under”
in a DraftKings spot while standing mere feet from WWE wrestler
The Undertaker. Another commercial from FanDuel featured
a live field goal attempt by former New England Patriots
tight end Rob Gronkowski, one that drifted wide left of
the upright at the last second.
Former lieutenant governor calls for Nevada Gaming Commission
cyber briefing after MGM and Caesars hacks - September 2023
In light
of cyberattacks on MGM Resorts International and Caesars
Entertainment, former Nevada Lt. Gov. Brian Krolicki, now
a Nevada Gaming Commission member, called for a briefing
on the hacking incident to shed more light on what happened
and how it can be prevented in the future.
The
suggestion comes the same day the Massachusetts Gaming Commission
met in executive session “to consider information related
to an MGM cybersecurity issue.” It held a similar closed
meeting on Monday.
After
it returned to the public session on Thursday, the Commission
entered into an executive session regarding security at
MGM Springfield, according to the Commission agenda.
Krolicki
made his comments at the end of Thursday’s five-hour
meeting of the Nevada Gaming Commission. Since it was made
during the public comment session, the commission could
not take up the matter, but it’s likely the issue will
return to the Commission and the Nevada Gaming Control Board
at some point.
In the
latest cyberattack that started being felt Sept. 10 and
went into this week, hackers knocked slot machines out of
commission and created havoc with ATMs and computer systems.
MGM, which is reported by a Wall Street analyst to have
lost between $4.2 million and $8.4 million a day with the
hack, said its systems were operating normally across their
properties nationwide as of Wednesday. Caesars reported
it was hacked in late August and had customer information
stolen but paid a $15 million ransom that avoided any shutdowns.
In December,
the Commission approved cybersecurity regulations for the
state’s gaming industry to protect operators’
information systems from attacks that could shutter casinos
and compromise customer data. The rules went into effect
Jan. 1. That approval came right after BetMGM reported that
its customers’ personal information – including
Social Security numbers – was obtained in an unauthorized
manner and included information on their transactions.
In the
regulations, casinos were required to do a risk assessment
of their systems by the end of 2023 and take any necessary
steps on an ongoing basis to ward off an attack. If any
breach was successful that compromised player data, credit
card information and other records, including that of employees,
properties would be required to report it to gaming regulators
within 72 hours.
“It
would be important and enlightening given the recent events
of the past week regarding cyber security and ransomware
in particular at MGM and our friends at Caesars and look
at how it impacts our world and regulatory responsibilities,”
Krolicki said, later adding, “I think at some point
in time when there’s the energy and understanding of
what just happened if we could get some kind of briefing
of what transpired that’s appropriate for public record
and perhaps policies going forward of how do we avoid these
things and if they do happen whether the reporting schemes
on whether it was immediately reported to the Gaming Control
Board. There are a lot of questions and a lot of publicity.
It’s a global story, and I just think it would behoove
all of us to get a good handle on what just happened.”
The
Nevada Gaming Control Board released a statement on Sept.
13 saying Gov. Joe Lombardo and the board “are monitoring
the cybersecurity incident with MGM Resorts and are in communication
with company executives. Additionally, the Nevada Gaming
Control Board remains in communication with other law enforcement
agencies.”
Casino
consultant Brendan Bussmann, managing partner of B Global,
which tracks gaming boards and commissions, said the Massachusetts
hearing won’t be the last and expects states across
the country to hold similar sessions wanting to hear from
MGM executives.
“Nevada
is the second regulator that I know has raised their hand
on this after Massachusetts,” Bussmann said. “It
should be about what happened and how it happened, which
should be considered confidential information. This is going
to be a question that every regulator for both commercial
gaming and tribal gaming is going to be concerned about.
Since we’re still trying to figure out what happened,
then we can see what tools we need as an industry to beef
up our efforts on cyber-related events.”
While
everyone is focused today on MGM and Caesars, this is not
the first cyber attack, Bussmann said.
“This
can go back to the Las Vegas Sands attacks in 2014 from
the Iranians and any other data breaches that happened between
then and now,” Bussmann said. “I would expect
every state at a minimum has MGM and Caesars in it to at
least say what happened and what can we do regulatory to
help this and what can we do with testing and what can we
do IT and host of things.”
Bussmann
said the regulators can’t be reactionary but instead
should get evidence on how it happened and use the best
resources outside of the casino industry, such as security
firms, to do it right.
“There’s
no one better suited to regulate Nevada on this issue than
the Gaming Control Board in working with law enforcement
partners across the country,” Bussmann said.
2023
Casino,
Gaming, Sports Betting and Pop Culture News
DraftKings
lays off roughly 140 employees in corporate restructure
DraftKings
is eliminating about 140 jobs, part of what the sports betting
company is calling a reorganization. A majority of the eliminated
positions are based in Europe, Asia and the Middle East,
and primarily span both engineering and HR roles related
to hiring, according to someone with direct knowledge of
the moves. The 140 positions amount to a low single-digit
percentage of the company’s workforce. DraftKings stock
jumped nearly 10% on the day to close at $16.48.
Penn
Entertainment reports small year-over-year revenue increase
in Q4 despite Mattress Mack payout
Despite
a huge winning bet by Jim “Mattress Mack” McIngvale
and inclement weather in December, Penn Entertainment’s
2022 fourth-quarter results were consistent, according to
CEO Jay Snowden during Thursday’s investors’ call.
McIngvale’s bet on the Houston Astros to win the World
Series via Penn’s Barstool Sportsbook cost Penn $10
million. And Snowden claimed that “severe weather in
certain parts of the country”...put a drag on revenue.
Las
Vegas sports news
If the
Oakland Athletics relocate to Las Vegas, north Strip and
downtown resort operators would strongly support the team
building a $1 billion ballpark in their area. Resorts World
Las Vegas President Scott Sibella confirmed that he and
hotel owners from the north Strip and downtown Las Vegas
met with A’s brass Wednesday. They discussed the potential
of a 35,000-seat domed stadium on the Las Vegas Festival
Grounds site, located on the southwest corner of Las Vegas
Boulevard and Sahara Avenue.
Las
Vegas Strip breaks monthly revenue record
Led
by a record surge on the Las Vegas Strip, Nevada closed
2022 with its 22nd consecutive months of $1 billion and
higher in gaming revenue and added to its record gaming
revenue for the year, which was set in November. For calendar-year
2022, Nevada reported $14.8 billion in gaming revenue, topping
the $13.4 billion in 2021, a 10.5% increase. The Nevada
Gaming Control Board reported Tuesday that casinos collected
$1.31 billion in revenue in December, a 14.3% jump over
December 2021.
Sharp
bettors weigh in quickly on Super Bowl; two 6-figure wagers
Patrick
Mahomes needed all of his magic to help send the Chiefs
to their third Super Bowl in four years. But sharp bettors
don’t believe in magic. They’re banking on the
Philadelphia Eagles to beat Kansas City in Super Bowl LVII
for the franchise’s second NFL title in six years.
Less than 30 minutes after the Super Bowl line opened at
pick’em at multiple sportsbooks, the Eagles emerged
as consensus 1½-point favorites.
Governor
names ex-judge George Assad to seat on Nevada Gaming Control
Board
Former
Las Vegas judge George Assad, who was sanctioned by judicial
overseers for a punishment he meted out and lost his re-election
bid after his son robbed the Bellagio in a high-profile
heist more than a decade ago, was named to the Gaming Control
Board on Monday by Gov. Joe Lombardo. Assad, 71, who was
a Las Vegas Municipal Court judge from 2002 until 2011,
will have a four-year term as a member of the board that
directs the statewide agency charged with regulating and
enforcing laws.
Tribes
need to do a better job of coordination
Tribal
organizations with departments ranging from casino gaming
to health care need to do a better job of understanding
everyone’s needs, thinking strategically, and working
toward common goals that benefit tribes for the long term.
That was the prevailing sentiment that emerged from the
panel discussion, “The Top Five Things Tribal Councils
Should Expect and Evaluate from Their Executive Leaders,”
held at the Raving Next gaming conference in Albuquerque.
Some
overdue recognition
I’ve
always been a fan of awards in the gambling industry. In
my mind, any recognition beyond a paycheck and a pat on
the back has value. Our industry has never lacked awards.
The biggest enchilada is certainly induction into the American
Gaming Association’s Hall of Fame. Like all Halls of
Fame, only the most successful movers and shakers get inducted
into the AGA’s Hall, no posers or wannabes. Many gaming-media
companies issue awards, including regional gambling publications
and newspapers that serve casino cities, although most newspapers
are just trying to sell advertising to the honored casinos
and companies.
Industry
poised for “biggest-ever” ICE London
Clarion
Gaming has confirmed next week’s ICE London 2023 will
be the biggest on record, occupying 41 halls of its London
ExCeL home. Having returned from the pandemic last April
with a scaled-back offering, this year’s ICE will occupy
51,466 square metres of the London-docklands exhibition
centre, exceeding the previous high of 49,690 m2 in 2020.
Sister show iGB Affiliate London will occupy ExCel’s
remaining three halls, with a week’s worth of satellite
events throughout London.
Las
Vegas tourism helps fuel strong Boyd Gaming earnings
Aided
by a boost in the Las Vegas economy and tourism, Boyd Gaming
set a record for revenue and adjusted earnings during the
fourth quarter and 2022 as a whole, setting the stage for
strong earning reports to come in February from Strip and
other operators. For all of 2022, Boyd Gaming reported revenue
of $3.56 billion, compared to $3.37 billion for 2021. Net
income was $639.4 million, or $5.87 per share, compared
to net income of $463.8 million, or $4.07 per share, for
2021.
Aristocrat
finalizes acquisition of Roxor Gaming
Aristocrat
Leisure Limited Friday announced it has completed the acquisition
of igaming supplier Roxor Gaming Limited. The deal was first
announced in September 2022. Roxor will form part of Aristocrat’s
igaming business Anaxi, which was rebranded in October 2022.
Aristocrat initially announced the creation of a dedicated
igaming business in February 2022 to pair with Aristocrat
Gaming and the Pixel United mobile-first publishing business.
“We’re thrilled to welcome Roxor to Anaxi and
the broader Aristocrat group,” said Anaxi CEO Mitchell
Brown in a statement.
Texas:
Casinos in Dallas-Fort Worth? Lawmakers will consider expanded
gambling
A North
Texas representative has filed legislation to expand casino
gambling in Texas and legalize sports betting. Fort Worth
Republican Rep. Charlie Geren filed the proposal on Friday.
The legislation is supported The Destination Resort Alliance,
which is backed by casino and resort company Las Vegas Sands.
It remains to be seen whether the bill passes in a state
that in the past has been reluctant to expand gaming, but
Gov. Greg Abbott and House Speaker Dade Phelan have left
the door open for expanded casino gambling as the legislative
session that started in January begins to ramp up.
Las
Vegas tourism helps fuel strong Boyd Gaming earnings
National
(results) - Aided by a boost in the Las Vegas economy and
tourism, Boyd Gaming set a record for revenue and adjusted
earnings during the fourth quarter and 2022 as a whole,
setting the stage for strong earning reports to come in
February from Strip and other operators. For all of 2022,
Boyd Gaming reported revenue of $3.56 billion, compared
to $3.37 billion for 2021. Net income was $639.4 million,
or $5.87 per share, compared to net income of $463.8 million,
or $4.07 per share, for 2021. Total adjusted EBITDAR for
2022 was $1.39 billion versus $1.37 billion for 2021. Full-year
2022 adjusted earnings were $662.0 million, or $6.07 per
share, compared to adjusted earnings of $584.2 million,
or $5.12 per share, for 2021.
Penn
reports small year-over-year revenue increase in Q4
National
(results) - Despite a huge winning bet by Jim “Mattress
Mack” McIngvale and inclement weather in December,
Penn Entertainment’s 2022 fourth-quarter results were
consistent…Penn’s revenue for the fourth quarter
reached $1.6 billion, a year-over-year increase of 0.8%.
But net income for the quarter, $20.8 million, decreased
by more than 50% compared to the $44.8 million generated
in the fourth quarter of 2021.
The
World Series of Poker announces its full 2023 schedule
Nevada
(Las Vegas) - The World Series of Poker has announced its
full summer schedule with an eye on having the largest Main
Event field in history and, if it happens, awarding the
poker promotion of a lifetime. The 54th version of the world’s
largest poker tournament runs May 30-July 18 at the recently
rebranded Horseshoe Las Vegas with 95 bracelet events. The
No-Limit Hold ’em World Championship, known as “The
Main Event,” will take place from July 3 to 17 and
if it sets a record for entries, one entrant will be drawn
at random to win a Main Event for Life package, buying him
or her into the next 30 Main Events.
Video
gambling up statewide, mostly flat in area in 2022
Illinois
(slots/results) - Video-gambling terminals in Illinois continued
to rake in the dough in 2022, though in our area, revenues
were flat or fell slightly…the amount of money put
in minus the amount paid out — amounted to $2.71 billion
in 2022, a 9.5 percent increase over 2021's $2.47 billion.
At the same time, the number of terminals grew by about
7.6 percent, from 41,826 at the end of 2021 to a hair over
45,000 a year later.
Officials
moving forward with plans for Diamond Jacks Casino
Louisiana
(Bossier City) On Feb. 1, Mayor Tommy Chandler of Bossier
City met with the Foundation Gaming Group to discuss the
construction activity which will soon be happening at the
former Diamond Jacks Casino property…Chandler and members
of his staff met with the group and the project's general
contractor AnderCorp to discuss the initial details of the
future transformation on this casino and hotel.
Horseshoe
Casino Baltimore workers rally
Maryland
(Baltimore) - Unionized workers at Horseshoe Casino Baltimore
are demanding raises in line with others in the gaming and
hospitality industry in the city and elsewhere, saying casino
revenues have rebounded since the pandemic while compensation
has stalled. About 20 workers and union representatives
demonstrated Wednesday in front of the casino on Russell
Street near downtown, calling for raises, holiday pay and
other changes. Workers said bargaining has stalled with
owner Caesars Entertainment on a contract that expired in
October.
The
High Rollers
News
The
Psychology of High Rollers: What Motivates Big-Time Gamblers?
We've
all heard about them, but have you ever wondered who high-rollers
really are? To get an answer to this intriguing question,
we must first define this category. So, high-rollers are
individuals who enjoy gambling and are willing to wager
large sums of money on their favorite casino games.
Generally,
they are wealthy individuals (business people, celebrities,
royalty, etc.) who can afford to spend large amounts on
entertainment. Of course, they can also afford to lose thousands
of dollars without worrying about the consequences.
You
can easily recognize them because they are usually attracted
to the adrenaline rush and excitement. Sometimes they tried
other adrenaline-rush activities before deciding to get
involved in high-stakes gambling. You'll find them in both
land-based and online casinos like Spinfever, and many of
these establishments offer specially-designed perks and
incentives to attract and retain this category of players.
The
Role of Money: Why Do High Rollers Keep Betting Big?
Some
might say it's all about the money regarding high rollers,
but that's not the case. Still, it's a crucial motivator
for this category of casino players when it comes to placing
big stakes in brick-and-mortar or online casino sites. The
potential for high payouts is a significant draw for high-rollers
looking to turn their bets into big wins.
In most
cases, these individuals are wealthy and have much disposable
income, making it easier to take risks and place large bets.
We've all heard the basic rule of gambling - don't gamble
the money you can't afford to lose. These people keep getting
big because they won't notice the losses even if they enter
a losing streak.
Of course,
we shouldn't ignore the fact that there's an opportunity
for these people to win significant amounts of money. Yes,
they are already wealthy, but they can always become wealthier.
So, the potential rewards seem attractive to high rollers
because they can get more power and influence, improve their
status and prestige, and support their lifestyle thanks
to the big prizes.
Beyond
Money: The Other Factors that Motivate High Rollers
The
chance to win substantial amounts of money can be an excellent
motivator for many people. Still, it's not just the financial
gains that make high rollers keep betting big. We created
a list of other things contributing to this behavior and
lifestyle.
The
Thrill
For
high-rollers, the thrill of winning and the chance of earning
even more money can be compelling. The larger the bet, the
greater the potential payout, and the more exciting the
game becomes. This approach to this form of entertainment
keeps players on the edge of their seats, which is why it's
often a major factor in motivating high-rollers to place
large stakes at casinos.
The
Feeling of Exclusivity and the VIP Treatment
Another
thing that makes high-rollers consider wagering a lot of
money is the exclusivity and VIP treatment accompanying
these players. Whether they prefer online casinos or their
physical counterparts, it doesn't matter because the best
options usually provide special perks and deals to make
high-rollers join these casinos and keep coming back.
For
instance, some can enter private gaming rooms or access
luxurious accommodations and personalized services. Many
online casinos with VIP programs provide special gifts and
access to exclusive tournaments to high-rollers. Some of
them have bonuses and promos designed for these users. In
any case, these exclusive perks can make high-rollers feel
valued and appreciated and motivate them to continue betting
big at casinos.
The
Challenge
Besides
the potential for high payouts and unique incentives, high-rollers
find this form of gambling attractive due to the challenge
of playing high-stakes casino games. Games like poker, blackjack,
and baccarat require a high degree of strategy and skills
and offer the potential for high rewards for those who are
successful. Those who enjoy a good challenge will find these
high-stake games particularly appealing.
Final
Thoughts
All
in all, money is a significant motivator for high-rollers
when it comes to using big stakes in casinos, but this is
not the only thing that makes them visit these places. The
exclusivity and VIP treatment, the challenge of playing
high-stakes games requiring skills, knowledge, and strategy,
and the thrill also motivate these players to take risks
and bet big.
Movie
Box Office (North America)
October
13, 2024
1.
Terrifier 3 - $18.3m
2.
The Wild Robot - $13.5m
3.
Joker: Folie à Deux - $7.1m
4.
Beetlejuice Beetlejuice - $7.1m
5.
Piece By Piece - $3.8m
6.
Transformers One - $3.7m
7.
Saturday Night - $3.4m
8.
My Hero Academia - $3m
9.
The Nightmare Before Christmas - $2.3m
10.
The Apprentice - $1.6m
Movie
Box Office (North America)
September
15, 2024
1.
Beetlejuice Beetlejuice - $51.6m
2.
Speak No Evil - $11.5
3.
Deadpool & Wolverine - $5.2m
4.
Am I Racist - $4.8m
5.
Reagan - $3m
6.
The Killer's Game - $2.6m
7.
Alien: Romulus - $2.4m
8.
It Ends with Us - $2.3m
9.
The Forge - $2m
10.
God's Not Dead: In God We Trust - $1.5m
others
...
Twisters
Blink
Twice
Despicable
Me 4
Afraid
Inside
Out 2
Coraline
The
Crow
Trap
Stree
2
Borderlands
Harold
and the Purple Crayon
Cuckoo
Longlegs
The
Firing Squad
A
Quiet Place: Day One
Bad
Boys: Ride or Die
The
Fabulous Four
Fly
Me to the Moon
Raayan
Bad
Newz
MaXXXine
The
Bikeriders
Sound
of Hope: The Story of Possum Trot
Horizon:
An American Saga
The
Lion King
Kalki
2898 AD
Kinds
of Kindness
The
Garfield Movie
Kingdom
of the Planet of the Apes
Jatt
& Juliet 3
Blue
Lock Thee Movie - Episode Nagi
Daddio
Janet
Planet
The
Watchers
IF
The
Exorcism
Thelma
GHOST
Rite Here Rite Now
Furiosa:
A Mad Max Story
The
Fall Guy
The
Strangers: Chapter 1
The
Lord of the Rings: The Fellowship of the Rings
Haikyuu!!
The Dumpster Battle
In
a Violent Nature
Ezra
Sight
*
Correct at time of publication
News
Box
office numbers down approx 70 percent from last year
(References:
Wikipedia, Box Office Mojo, IMDb, Deadline and The Hollywood
Reporter)
Combat
Sports Week
September 11,2024
WWE
Speed
Naomi vs Blair Davenport
September
13, 2024
WWE SmackDown
Cody
Rhodes vs Solo Sikoa - Steel Cage Match - Undisputed WWE
Title
Climate
Pledge Arena Seattle, Washington
September
13, 2024
Bare
Knuckle Fighting Championship
BKFC
66 - Blass vs Reber
Seminole Hard Rock Hotel. Hollywood, Florida
September
14
UFC
UFC
Noche aka UFC 306
Sphere, Las Vegas
O'Malley
vs Dvalishvili
September
14
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Boxing Champions
MGM T-Mobile Arena
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