Vendors Selected for Market Studies on Cedar Rapids Casino
The saga surrounding the casino proposal in Cedar Rapids, Iowa continued Aug. 29 when the Iowa Racing and Gaming Commission selected The Innovation Group and Marquette Advisors to conduct market studies on the casino’s potential economic impact. The studies are due to be presented in January, with a final vote on the matter scheduled for Feb. 6.
This is the third time a Cedar Rapids casino has been proposed, having already been twice denied by state regulators in 2014 and 2017. Market research played a key role in the previous refusals in that analysts predicted the casino would have adverse effects on neighboring casinos in Davenport, Waterloo and Riverside.
A two-year moratorium on gaming licenses in the state was enacted in 2022 and expired July 1. There has been much speculation that lawmakers will attempt to enact a new moratorium before that vote takes place. Bidders will make presentations in October, but the general consensus is that Peninsula Pacific Entertainment, which has long partnered with the Linn County Gaming Association for the proposed $250 million Cedar Crossing Casino, is the only real contender for the license.
Hard Rock Opens Permanent Rockford Casino
Hard Rock International unveiled its permanent casino in Rockford, Ill. Aug. 29, a 180,000-square-foot property with 1,300 slots, 50 tables, a sportsbook, the city’s first poker room and a 1,600-seat entertainment venue. The company’s nearby temporary casino was closed Aug. 12.
A media tour was held ahead of the grand opening—according to the Rockford Register Star, Cheap Trick legend Rick Nielsen was on hand and threw out the first craps roll. Nielsen is a Rockford native and Cheap Trick memorabilia is prominently featured throughout the casino.
NY Licensing at Standstill as Expediting Bill Looks to be Dead
A piece of legislation passed by New York lawmakers to speed up the state’s process in awarding three downstate casino licenses appears all but dead as the Aug. 31 bid deadline outlined by the legislation has come and gone without a sign-off from state Gov. Kathy Hochul.
Instead, it now appears that the original timeline outlined by the Gaming Facility Location Board, in which the proposal window for bids runs through June 27, 2025, will stand. There are currently 11 bids for the three licenses, featuring proposals for casinos all over New York City and surrounding areas.
State Senator Joseph Addabbo, a longtime champion of gaming expansion in New York, told PlayNY that the longer the process drags on, the longer it will take to reap the economic benefits of awarding the licenses in the first place. ““Never in our wildest dreams did we ever think that expediting it by one year that we were going to have to wait three, four, five years,” he said.
Venetian Unveils Convention Center Renovations; Workers Ratify New Labor Deal
It’s been a busy time for the Venetian–on Aug. 22, the property showcased the first phase of renovations to its Venetian Convention and Expo Center, a project that will eventually encompass $188 million of a total of $1.5 billion in upgrades set to take place over the next few years. The convention center, the longstanding home of the Global Gaming Expo, is expected to be fully renovated by 2026.
“Meetings have always been in The Venetian’s DNA,” said Chief Sales Officer Tony Yousfi, per the Las Vegas Review-Journal. “So why now? We’ve always been the market leader in conventions, and, frankly, our space needed to be a little bit updated.”
Then on Aug. 27, the property’s new four-year labor deal with the Culinary Union was ratified by 99 percent of workers. Combined with the Palazzo, there are approximately 4,000 non-gaming staff covered under the deal. The deal, agreed to earlier this month, is in line with others signed over the last year for the union, and includes 32 percent raises over the course of the contract along with other benefits and protections.
AGA Survey Highlights Progress in RG
A new survey from the American Gaming Association (AGA) released Aug. 28 showed that responsible gaming efforts are gaining traction among U.S. voters.
Three-quarters of respondents said they believe that gaming “behaves responsibly in the communities where it operates.” With regard to sports betting specifically, 90 percent of respondents see it as an acceptable form of entertainment, and 75 percent support having legal sports betting in their state of residence. There are currently 38 legal sports betting states, plus Washington, DC. So far in 2024, no new markets have come online.
RG advertising, resources and programs were highlighted in the survey–65 percent of overall respondents said the U.S. gaming industry is sincere in its RG efforts, up from 55 percent last year. That figure increased to 81 percent for active casino goers and 88 percent for active sports bettors. Last year’s totals were 70 percent and 78 percent, respectively.
NV Revenue Slips 7 Percent YoY in July
The Nevada Gaming Control Board (NGCB) reported Aug. 28 that the state’s gross gaming revenue (GGR) total for July was $1.3 billion, down 7 percent from the same period last year. Last July’s mark of $1.4 billion was the second-highest in state history, making this year look disappointing by contrast. Regardless, the tally now stands at 41 consecutive months of GGR of $1 billion or more for the Silver State.
The Las Vegas Strip posted $709 million in GGR, a 15 percent year-over-year decrease. Baccarat weighed heavily on the market’s performance, falling 66 percent from last year to $64 million. Elsewhere in the area, the locals market (+19 percent), Downtown Las Vegas (+10 percent) and Boulder (+8 percent) all posted solid year-over-year increases.
All northern markets either stayed flat or posted declines. State sportsbooks won $25.8 million, up 2 percent from last year. Of that total, $19 million came from mobile wagering, which was a 38% increase year-over-year.
New Gambling Laws Take Effect in Central CA
On Aug. 27, a new gambling ordinance took effect in Tulare County in central California. Approved earlier this month by the county’s board of supervisors, the new ordinance features several expansions for casinos in unincorporated areas.
The changes include: a new limit of 12 tables per casino instead of five; a new limit of 16 tables county-wide instead of 12; the previous single bet and daily ante limit of $200 has been removed; casinos may now operate 24 hours per day rather than 8 a.m. to 2 a.m. and they are eligible to hire non-gaming staff between 18 and 21 years old.
According to the Sun Gazette, the new updates come in response to a proposal from Deuce Lounge and Casino to build an expanded facility in Goshen.
ADG Warns Residents of Gaming-Related Scam Calls
On Aug. 27, the Arizona Department of Gaming (ADG) issued a press release warning residents about an increasing number of gaming-related scam calls. The release noted two types of calls: one in which bad actors pretend to be affiliated with a business or the government that is seeking fees and another in which victims are told they’ve won a prize or sweepstakes.
“Legitimate organizations such as the ADG, its partner Tribal gaming regulators, and national gaming regulatory agencies will never call a patron to alert them of a “win” or “sweepstakes,” the regulator said. “In addition, these legitimate organizations will never call a patron to alert them of delinquent taxes or fees owed to the State of Arizona or the Internal Revenue Service (“I.R.S.”). If someone claims to work for one of these organizations and makes any demands or threats relevant to the information above, they are a scammer. Keep your money safe and secure, pass the information along to others, and report the scammer immediately.”
