NEWS & NOTES

The Federal Trade Commission has signed off on Caesars Entertainment’s $516.3 million sale of the Rio Hotel and Resort in Las Vegas to a New York real estate group. The deal, which is expected to close by the end of the year, calls for Caesars to lease back management of the off-Strip resort, currently home to the World Series of Poker, for at least two years for $45 million a year with an option on a third year. • For the third year running, MGM Resorts has sponsored the Dotombori River Festival in Osaka Japan, continuing its charm offensive as it prepares to bid on an integrated resort license there. Jason Hyland, president of MGM Resorts Japan, said the U.S. company is “very honored to be able to participate in this festival … We have been looking forward to being able to participate in this year’s festival of Osaka’s culture and entertainment.” MGM is also the only IR candidate with an “Osaka First” policy in Japan. • Fines paid by Singapore’s two casino operators amounted to $745,000 in the 2018 financial year. Las Vegas Sands’ Marina Bay Sands paid $15,000 for failing to prevent a minor from entering and failure to keep out a local resident who didn’t pay the entry levy. Resorts World Sentosa was fined $400,000 for failure to implement a system of internal controls; $250,000 for failure to comply with a direction related to conduct, supervision and control of operations; and $80,000 for failure to prevent five minors from entering the casino. •. South African sports betting operator Hollywoodbets has acquired the naming rights to Kingsmead Cricket Stadium, home of KwaZulu-Natal-based cricket franchises the Dolphins and Durban Heat. Under the five-year agreement, which runs to the end of the 2023-24 season, the facility will be known as the Hollywoodbets Kingsmead Stadium.