The powerful investor in and former executive with MGM Resorts, Kirk Kerkorian (flanked by the late Terry Lanni and Jim Murren, both MGM chairmen), passed away last week at the age of 98. His legacy in the gaming industry will stretch far beyond his long life, and he’s an acknowledged “father” of the modern Las Vegas. But gaming wasn’t the only thing for which he’ll be remembered.
Gaming industry representatives headed by AGA President Geoff Freeman testified at an IRS public hearing in opposition to the agency’s slot reporting proposal. Freeman (l.) told IRS commissioners that the proposal to reduce the level of reporting on jackpots from $1,200 to $600 would vastly reduce the number of players using loyalty cards to escape IRS scrutiny.
Massachusetts will open its first casino, or rather racino, a slots parlor, on June 24, when Plainridge Park Casino begins operating. The $250 million casino will have 1,222 slot machines and will be operated by Penn National Gaming. Meanwhile, representatives from Wynn Resorts and the Boston mayor’s office met to discuss ongoing legal disputes over the company’s Everett casino.
The French government has rejected a proposal that would bring casinos to Paris. Instead, lawmakers hope to replace the city’s renegade cercles de jeux, or private gambling halls, with London-style gambling clubs (Paris’ Fermeture du Cercle Wagram at left).
What do AML, FinCEN, PTF, OFAC, BSA, PEP, SOW have to do with casinos and banks? They are all terms that all casino executives need to be familiar with because they will impact our business like no other. Steve Karoul (l.) explains what they mean and why they are so important.
Sarah Harrison, a senior partner at the power regulator in Great Britain, will join the U.K. Gambling Commission as commissioner in September and succeed Jenny Williams as chief executive in October.
Florida Attorney General Pam Bondi (l.) called an appeals court's ruling approving slots in Gadsden County a “monumental change” that could lead to slots at parimutuels outside Broward and Miami-Dade counties, the only places they are legal outside of Seminole casinos. The ruling could upend the Seminole compact, which still has not been renegotiated.
MGM Resorts International has refinanced a credit agreement in order to complete its $2.9 billion resort now in development on Macau’s Cotai Strip (l.). The move increased the credit line to $1.55 billion.
The U.S. Supreme Court may have to decide whether the National Labor Relations Act applies to businesses operated on tribal land by tribes, such as casinos. There are conflicting opinions by courts and the National Labor Relations Board itself.
The point of consumption tax recently imposed in the United Kingdom has negatively impacted revenues from iGaming companies active there. Will it spread to other countries and what are the implications for the iGaming industry?
This week, the GGB Podcast sits down with Walter Bugno, the CEO of IGT International, who discusses the recent purchase of IGT by GTECH, where he worked for many years prior to his IGT appointment.
Twelve National Reform Council members in Thailand say the country would benefit from legal casinos. The group says revenues from legal gaming would draw new tourism and help the poor. But Chairman Thienchay Kiranandana (l.) says there is not broad support for gaming.
Enrique Razon (l.), chairman and CEO of Philippines casino operator Bloomberry Resorts Corp. says he’s prepared to invest in a new international airport in Manila to augment tourism in the country.
Macau Secretary for Economy and Finance Lionel Leong (l.) says officials have received no requests to build new casinos on Coloane island, a mostly residential area of the SAR. Lawmaker Au Kam San had inquired about the possibility, which worried neighbors.
After losing out on two bids to develop casino resorts in New York State, Genting Malaysia Berhad will concentrate on new investment opportunities, says Chairman and CEO Lim Kok Thay.
The first two of a number of new resorts planned for Macau’s Cotai Strip have opened, but generated headlines largely due to their minimal impact on the market. Macau is looking at its 13th straight month of decline.
Imperial Pacific International has announced in a filing that it will open and operate a temporary casino on the Pacific island of Saipan sometime in the third quarter of 2015.
In response to the recent FIFA corruption scandal, the betting industry watchdog group ESSA has joined a call from the European Parliament to protect sports wagers from corruption and fraud.
The European Court of Justice in Luxembourg has ruled against legislation that would ban slot machines outside casinos. The court said the legislation would conflict with rights laid down by the European Union.
The government of Queensland, Australia may announce next month which gaming company will win the right to build a multibillion-dollar casino resort in Brisbane. Crown is proposing the Queen’s Wharf location (l.)
Although some California politicians disagree, one of the Assembly sponsors of the measure, Adam Gray (l.), says the iPoker in the state is still alive. But Senator Isadore Hall says the opposite. And PokerStars is fighting back from a vicious ad by a state tribe.
A key state Senate committee held a second hearing on internet gaming legislation as momentum gathers for legal iGaming in Pennsylvania. Senator Kim Ward (l.) has introduced a bill that would have higher fees and much higher taxes.
Macau’s Gaming Inspection and Coordination Bureau has issued a warning to citizens of the territory that all forms of online gambling are illegal under the law.
Atlantic City’s eight remaining casinos continued to benefit from the shrinking of the resort’s casino market with a 5.3 revenue increase between them. Those figures were helped by a more than 19 percent increase in online gambling revenue. That revenue, however, was mostly in online casino games as online poker in New Jersey continues to decline.
Swedish online gaming solutions provider NetEnt has signed its first agreement with U.S. online gambling providers and will provide games for New Jersey’s bwin.party and Borgata brands. The company’s application for a New Jersey Gaming License, however, is still under review.
Caesars interactive has been fined $15,000 by New Jersey Gaming regulators for soliciting players who have signed up for the state’s self-exclusion list for problem gamblers. Gamblers on the list were allowed to create accounts on Caesars’ online sites and some even placed bets.
Scientific Games will launch its online library of slot and table-game content under the Bally, Williams, Shuffle Master and Barcrest brands with Ireland’s Paddy Power.
DraftKings started small in offering sports news and statistics to its players, but there information pages have been growing steadily and have greatly increased the time players spend on the site. The company also hopes to attract new players through their information pages.
Philip Falcone’s HC2 Holdings has acquired a stake in fantasy sports provider Gaming Nation. Falcone said the site has the potential to be an industry leader.
Dallas Cowboys quarterback Tony Romo has criticized the NFL for waiting until the last minute to cancel a Fantasy Football Convention he was backing. The league cancelled the event because it was to be held at a Las Vegas casino. Romo said if the league had simply raised its concerns earlier, the event could have been moved.
Betsson AB has confirmed that it has stopped affiliate marketing and promotions in the Netherlands while it waits to go through licensing in the country under new online rules expected to be enacted soon in the country.
Several leading analysts are calling on Ladbrokes CEO Jim Mullen to cut the company’s dividends payments and pump more money into the bookmaker’s online marketing.
MGM Resorts International CEO Jim Murren said the company is through building casinos in Las Vegas. MGM does plan to keep building non-gaming venues, like a new entertainment arena (l.) scheduled to be completed in 2016, in addition to casinos outside of Vegas such as its $2.9 billion mega-resort on the Coati Strip in Macau.
Maryland’s five casinos are asking state gaming regulators to lower the average minimum payback percentage on slots from 90 percent to 85 percent. Maryland Live’s Rob Norton (l.) says it’s all about flexibility.
New Jersey state Senator and former Governor Richard Codey (l.) has been quoted as saying that southern New Jersey politicians—who are opposed to casinos outside of Atlantic City in the state—are behind the rash of proposals for casinos in the northern part of the state. Codey says the number of competing proposals will make it impossible for the state to reach consensus and have a referendum before voters in time for the November elections, thus derailing the move.
Pennsylvania casino operators support 24-hour alcohol service slots at OTBs and—except Sands chief Mark Juliano (l.)—internet gaming, but are wary about new proposed fees.
A request has been made to the judge in the lawsuit against Las Vegas Sands to unseal reports completed by a prominent former police superintendent that some say could confirm business dealings with triad-connected businessmen.
A group of senior bondholders whose support is vital to the bankruptcy restructuring plan of Caesars Entertainment’s largest operating unit are suing the operator.
The numbers are in for Boyd Gaming Corp. and they are looking good. The company’s stock has hit a 52-week high, and has grown over 35 percent in that time.
A protest by Atlantic City union workers at the Taj Mahal casino led to 68 arrests as the city’s main casino union continues to battle with billionaire Carl Icahn—who is acquiring the property—over health and pension benefits. Protests have been going on for months, but in this one, workers blocked an intersection in front of the casino.
While it pales in volume to the rest of the Strip, Circus Circus has carved out a niche through the years, appealing to families. One other key demographic seems to prefer the property over others, as well.
The historic Searchlight Nugget (l.), located in the tiny town of Searchlight, home to 500 or so, has been sold to JETT Gaming. The property has suffered since the recession and the building of a bridge which diverts potential traffic away from the casino.
The University of Las Vegas, Nevada will receive $1 million from the state over the course of two years to fund its new International Center for Excellence in Gaming Regulation. The center looks to bring together regulators from all sides of the gaming industry.
Bart Blatstein—who is creating a new entertainment and dining venue in Atlantic City—says he plans to use saved paraphernalia from the former Riviera casino in Las Vegas to give the Atlantic City project a nostalgic feel. The Riviera closed in May and Blatstein’s partner Paul Steelman saved memorabilia from the casino.
The Rivers Casino at Mohawk (l.) has experienced a recent update to design plans, but has faced some criticism in regards to those plans. Some feel the new design is nothing more than a sneaky way by owner Rush Street Gaming to save some cash.
The Atlantic Club casino closed in January 2014 in Atlantic City and could be reborn as a non-casino entertainment complex including two new water parks under plans released for the property last week. A Pennsylvania development firm is in talks to buy the shuttered property.
Lawmakers in Connecticut included $44 million in estimated keno revenue in the state's $40.3 billion budget. The game was approved in 2012 but repealed two years later. The Mohegans and the Mashantucket Pequots are working with state officials to determine how keno revenues will be divided.
Although gaming revenue has gone back-and-forth over the past few years for Lake Tahoe, the area has grown steadily over the past year. Several renovations and new properties are in the works to diversify the areas’ offerings.
The Florida Commission on Ethics said former state Lieutenant Governor Jennifer Carroll (l.) probably broke the law by not disclosing on mandatory financial disclosure forms and state and federal tax forms payments received from the fake charity Allied Veterans of the World. Carroll claimed that was a mistake, not intentional.
The Blue Horizon casino ship soon will offer twice-daily trips out of the Port of Palm Beach, Florida. New operators PB Gaming Inc. recently renovated the 160-foot, 600-passenger vessel which will offer slots, electronic bingo and blackjack. Previous operators, Island Breeze International Palm Beach, lost the boat in bankruptcy.
The $350 million, 18-story Scarlet Pearl Casino in D'Iberville, Mississippi is on schedule to open by the year's end. The property will feature a 167,000 square foot casino floor with 1,350 slots and 40 table games, plus a 4-star hotel, events center and a much-anticipated $2.5 million miniature golf course with an erupting volcano.
The New Jersey state Supreme Court has ruled that the state can skip a $1.57 billion pension payment to help balance its budget. A state report on financially troubled Atlantic City recommends that the city skip three years of pension payments as well.
Washington Governor Jay Inslee (l.) recently received a letter of approval from the U.S. Department of the Interior's Bureau of Indian Affairs regarding the Spokane tribe's proposed casino. Opponents to the plan began weighing in immediately, concerned the casino could affect the future of Fairchild Air Force Base.
The 25-year gaming compact between New Mexico and the Navajo National Gaming Enterprise (the Navajo Northern Edge casino at left) will begin July 1. The compact, which includes four other New Mexico tribes, was approved during the last legislative session and signed by Governor Susana Martinez on April 13. It allows matches 2007 revenue-sharing agreements.
The 12 Tribes Resort and Casino (l.) opened this week in Omak, Washington. The $43 million property features a 56,000 square foot casino with 500 slots, lighted by sculptural glass bubbles suspended above the ceiling, plus a four-story, 92-room hotel and dining and entertainment options.
Smoking no longer will be allowed at Ho-Chunk Gaming-Madison starting August 1. The casino will be the first in Wisconsin to offer a smoke-free environment, said Executive Manager Daniel Brown. Electronic cigarettes will be allowed but smokers will have to light up in a separate area away from the casino building.
In a letter to Alabama Governor Robert Bentley, the Muscogee (Creek) Nation of Oklahoma said the Poarch Band of Creek Indians built its Wetumpka casino on sacred land, damaging artifacts and burial sites. Muscogee (Creek) Nation officials told Bentley a Class III gaming compact with the Poarch Creeks would sanction the desecration of the site.
The sixth racetrack license in New Mexico could be up for grabs should the New Mexico Racing Commission decide to put out a request for proposals. Several potential racetrack developers are expressing interest.
Opponents of new rules for recognizing Indian tribes proposed by the Bureau of Indian Affairs are trying to stop the rule in its tracks with a rider to the Department of the Interior’s budget for 2016.
The Little River Band of Ottawa Indians recently broke ground on an $18 million expansion at its Little River Casino Resort in Manistee, Michigan. The tribe also is awaiting Interior Department approval for a proposed $180 million casino resort in Fruitport Township, near Muskegon.
Madison County, New York, is looking to strike a better deal with the Oneida Nation regarding slot revenue, just two years after its initial deal. Madison County is looking for a percentage of revenue from the tribe’s Turning Stone casino (l.) instead of just a flat fee this time around.
The Flandreau Santee Sioux Indian Reservation recently legalized buying and using marijuana for medicinal or recreational purposes. The operation could open by this fall. Individuals must be age 21 or older to buy the product, which will be sold one gram at a time. The tribe operates the Royal River Casino and Hotel.
Scheduled to open this fall, Harrah's Cherokee Valley River Casino will create 800 new jobs for Cherokee County, North Carolina. The property will feature a 60,000 square foot gaming floor with 1,000 slots, plus a 300-room hotel. It's owned by the Eastern Band of the Cherokee Indians, owners of Harrah's Cherokee Casino.
In the latest chapter of the Quapaw Tribe of Oklahoma versus the state of Kansas, the tribe filed a motion to dismiss Kansas' lawsuit preventing it from building a $15 million casino on its Downstream parking lot—located in Kansas. The National Indian Gaming Commission approved the tribe's expansion plans.
Oregon has moved forward, replacing old lottery terminals with newer, flashy models. Some people have criticized the move, saying the new machines keep people playing longer, and contribute to gambling addiction.
After a rocky start, electronic pulltab and bingo sales in Minnesota have grown by almost 50 percent since January, thanks to bigger payouts, better technology and more interesting games, officials said. Lawmakers approved the games in 2012 to help pay for the state's portion of the new Vikings stadium in downtown Minneapolis.
California Governor Jerry Brown has named his deputy press secretary, Jim Evans, to chair the California Gambling Control Commission. He replaces Richard Lopes, who has left the position under fire from allegations that he gave improper access to confidential information to a former associate.
Terry Contreras, who helped open the Red Hawk Casino in Northern California and left for other opportunities, will be returning as chief financial officer, it was announced last week.
A study by YWS Design and Architecture says casinos will need to totally rethink the designs of gaming floors to attract the younger generation of gamblers, says YWS Market Research Director Roberto Coppola (l.).
U.K. racetrack betting provider Star Sports has acquired assets including 18 prime racecourse betting points from BetVictor for an undisclosed sum. The firm has said it plans to focus more on its online business.
