In a hectic week for Atlantic City, Democrat politicians in the legislature approved a plan to expand casinos into northern New Jersey—which requires voter approval. Meanwhile, the resort found itself the target of a state takeover bid that would strip its city council of power, even though there is a state finance monitor and an emergency manager already in place. Also a plan to stabilize the city’s casino tax rate—still unsigned by Governor Chris Christie—was amended in the legislature to increase casino payments.
Lotteries in the United States and the United Kingdom saw their largest jackpots in history last week. Powerball’s $1.3 billion jackpot was the largest in world history. But what about the few states, including Nevada, that have yet to legalize a lottery?
Virginia McDowell (l.), president and chief executive officer of Isle of Capri Casinos, announced her retirement last week, effective April 27. Current Chief Financial Officer Eric Hausler will succeed McDowell as CEO, and COO Arnold Block will assume the title of president.
As the daily fantasy sports industry fights different battles in different states, it scored a temporary win in New York where a state appeals court ruled the sites could continue operating in the state while a legal move to shut them down by the New York Attorney General plays out in court. Meanwhile, a move to legalize DFS sites advanced in Florida and Massachusetts held hearings on proposed regulations for the sites.
Instead of pushing legislation allowing six destination casinos, Georgia Rep. Ron Stephens (l.) is focusing on a constitutional amendment requiring a voter referendum that would allow casino gambling to help fund the HOPE scholarship program. According to a recent Atlanta Journal-Constitution poll, 62 percent of voters like the idea.
Maharashtra may finally open the door to legal casinos in the Indian state. The government is studying the regulatory structure in place in Goa and Sikkim before enacting a casino act first established in 1976.
Although a Florida Chamber of Commerce poll showed 75 percent of respondents support the proposed Seminole compact, the state legislature has its doubts. At the annual Florida Gaming Congress, Senate Majority Leader Bill Galvano (l.) said, “There is a very real possibility that we will not pass a compact this session.”
Under the Ontario Lottery and Gaming Corporation's modernization plan, Great Canadian Gaming Corporation announced the Ontario Gaming East Limited Partnership has acquired OLG's Gaming Bundle 2 for $51.3 million, including Shorelines Casino Thousand Islands, Shorelines Slots at Kawartha Downs (l.) in the East Gaming Bundle and a proposed gaming property in Belleville.
Trump Taj Mahal last week won an appeal that reaffirmed its ability to end benefits for its union workers. The decision should pave the way for a takeover of the property by billionaire Carl Icahn, who already operates the Tropicana in Atlantic City and casinos elsewhere in the United States. Icahn has a plan to take the Taj out of bankruptcy and reinvest millions to upgrade the property.
High-flying gaming stocks of companies with properties in Las Vegas and Macau have come crashing down to earth. What does the continued slump in Macau mean for shareholders of Wynn Resorts and Las Vegas Sands?
This week, the GGB Podcast features a discussion with Rich Emery, the president of Thalden Boyd Emery Architects, on the approach his firm takes when designing casinos for tribal and commercial clients.
Some optimists and investors insist the worst is over for Macau, now in its 19th month of a record-breaking slump. But the Wall Street Journal says the world’s No. 1 gaming destination has a long climb ahead, and 2016 will not be a time of significant recovery. The multi-billion dollar Studio City (l.) has made no impact.
Lawrence Ho’s Tigre de Cristal (l.) near Vladivostok has won raves in its first months of operation. But the integrated resort has been called “a canary in the coal mine” in an economic zone that plans up to eight casino resorts and billions in investments.
SJM Holdings Executive Director Angela Leong has confirmed reports of an alleged multimillion-dollar theft from a junket room at its satellite casino, L’Arc Macau (l.). A senior staffer may have made off with HK$99.7 million (US$12.9 million)
Philippine gaming operator Bloomberry Resorts has announced the buyback of more than 800,000 company shares to cover a planned stock incentive package for officers and employees. Bloomberry owns Manila’s Solaire Resort & Casino (l.).
The Northern Marianas Islands’ casino commission has approved regulations and standards for junket operators, in hopes they will bring high rollers to casinos on Saipan, Tinian and Rota.
Gross gaming revenue for 2015 in the Philippines was up 17 percent over 2014, according to figures just released by the Philippine Amusement and Gaming Corp. PAGCOR Chairman Cristino Naguiat (l.) said the regulator raked in PHP48.5 billion.
The trial of former Hotel Lisboa Director Alan Ho is under way in Macau. The nephew of gaming industry legend Stanley Ho was arrested last January on suspicion of running a prostitution ring at the casino complex.
Casino cruises based in the Vietnamese city of Da Nang will soon be able to remain open after they return to port. Officials believe the relaxed rules will attract more visitors and more foreign-owned ships.
Gaming revenues in Cambodia were up a robust 33 percent in 2015. The Finance Ministry credits better tax collection for the boost, which beat the previous three years by more than 21 percent.
A unit of Olympic Entertainment Group has opened the firm’s largest casino, Casino Malta by Olympic Casino, in the Intercontinental Hotel in St. Julian’s. The casino has almost 300 slots plus electronic roulette, a sports bar, and 29 casino and poker tables.
Unhappy with the revenues generated by online gaming revenues, Greece will revise the regulatory framework. Deputy Finance Minister Tryfon Alexiadis says online operators have contributed less than €60,000 (US$65,000) over the past three years.
Hard Rock International has announced plans for its second hotel and casino in the Dominican Republic. Hard Rock Hotel & Casino Santo Domingo (l.) will feature 400 hotel rooms and suites and a casino. It will be the second Hard Rock casino in the country, after the first in Punta Cana.
Next month, Canadian MP Brian Masse (l.) will introduce a bill to legalize single-game sports betting. The bill was presented in 2012 but died in the senate. Currently under the Canadian Criminal Code, wagers only may be placed on two or more sports events.
If the Western Cape Provincial Parliament approves a second casino in metro Cape Town, the choice comes down to transferring the license from Tsogo's Mykonos, Garden Route or Caledon casinos, or Sun International's Worcester casino. There's a case to be made for or against each of those choices.
Australians soon might be able to lay live betting wagers on sports events, while they are in progress, as support grows for lifting the nation’s ban on online live betting on sports. Live betting occurs after a sporting contest has started and before it has ended, and accounts for as much as 75 percent of all sports wagers.
The West Australian Chamber of Commerce and Industry is pushing Colin Barnett’s government to sell Australia’s last state-owned betting agency, WA TAB. The business group says the government should not be trying to manage the complex industry.
The California legislature has pushed daily fantasy sports (DFS) ahead of online poker in importance. Much to the annoyance of many of the state’s gaming tribes. Assemblyman Marc Levine (l.) says there needs to be a statewide referendum to approve DFS, which he views as gambling.
Antiguan officials say they are ready to settle a more than 13-year dispute with the U.S. over the blocking of Antigua online gambling sites. Though the country won an action before the World Trade association, the U.S. has not made restitution. Officials say they are now willing to take a compromise offer from the U.S.
The head of a trade group representing online gambling operators looking to enter the Dutch market says the country’s move to raise online tax rates will drive players to unlicensed offshore sites. The Netherlands is considering legalizing online gaming, but a recent proposal would raise the online tax to 29 percent of revenues.
With the opening of the T-Mobile Arena in April, visitors who drive to MGM Resorts’ properties in Vegas will be required to pay for parking. MGM becomes the first casino company to charge for parking on the Las Vegas Strip. One of those garages will be a new facility built behind the Excalibur (l.).
The year 2016 is likely to be stable but without any spike in growth for the U.S. gaming industry according to analysts for Fitch Rating Services. However, the reliance on real estate investment trusts (REITs are worrisome, says Fitch.
With the demolition of a vacant school, MGM Resorts began to prepare the ground for the construction of its Springfield, Massachusetts casino. The official groundbreaking (l.) for the $950 million facility was held early last year.
Yesterday was the last day of service of Resorts World Bimini's SuperFast ferry, between Miami and Bimini. RWB President Ed Farrell said the company will start a comprehensive transportation improvement initiative offering guests faster access to Bimini, including flights on Cape Air and Silver Airways.
The $60 million Isle Bettendorf in Bettendorf, Iowa will open a new era in Iowa gambling when it moves off the river and onto land sometime between May and December. Rhythm City in Davenport will open around the same time. With two 500-room towers, Isle Bettendorf's hotel will be the largest in Iowa.
Statewide, Nevada casinos lost $662 million during 2015, but the state’s casino industry remained stable due to record visitation numbers and increased spending on entertainment, food and beverage, shopping, and other amenities. Analysts say annual gaming losses are lessening for Nevada casinos, and 2016 might be the first to post a profit since the Great Recession.
Construction is under way on a 300-room hotel tower at the Golden Nugget in Lake Charles, Louisiana, Tilman Fertitta recently announced. It's expected to open by the end of the year. The property already offers 740 luxury rooms and suites.
The Texas Horsemen’s Partnership this month sued Texas Comptroller Glenn Hegar in state court in hopes of having the court overturn a new regulation enabling the state’s Legislative Budget Board to only partly fund the Texas Racing Commission, while pressuring the commission to reverse its approval of historical race betting.
The Saratoga Casino and Raceway in Saratoga Springs, New York, secured a $15 million loan from Citizens Bank to help complete a 117-room, four-story hotel and 160-seat steakhouse in time for the summer tourism season this year. The casino and raceway is improving its amenities to better compete with a planned casino in Schenectady.
A resolution in the Pennsylvania House of Representatives calls on the U.S. Congress to repeal the federal ban on sports betting. Sponsor Rob Matzie (l.) says the bill is designed to combat illegal sports betting and provide states with taxes.
A scheduled vote on union representation has been delayed by 300 dealers at the MGM Gold Strike Casino (l.) in Tunica County, Mississippi. They claim MGM Resorts International has used unfair labor practices to pressure them against joining the UAW, including threatening pay cuts and claiming ballots would not be secret.
Hundreds of hopeful vendors attended recent information sessions conducted by Empire Resorts, which will manage the planned Montreign Resort Casino (l.) near Monticello in New York. The casino is one of three approved for Upstate New York that state and local officials hope will boost stagnating rural economies. A fourth casino awaits approval in the Southern Tier.
Las Vegas officials are seeking reactions to recently enacted street performance rules at the Fremont Street Experience in Downtown Las Vegas. The city enacted the new performance rules in November in order to better regulate the performances and to prevent clashes among street performers and to make downtown a friendlier place for tourists.
The current volatility in the Chinese stock market likely will reduce the number of visitors to casinos in Macau and Las Vegas, which traditionally count on the Chinese New Year to boost revenues, gaming analysts say. That means less gaming revenues from China, which already has cracked down on its citizens taking vacations in Macau and Las Vegas.
Las Vegas visitors sometime in the near future might be able to use a light-rail system to go connect McCarran International Airport to the Las Vegas Strip, and move up and down the Strip, as city officials weigh the possibility of adding a light-rail system to reduce travel time to and from the airport and ease traffic and pedestrian traffic along Las Vegas Boulevard.
The Las Vegas economy is enjoying a resurgence after crashing during the Great Recession, and that’s great news for Boyd Gaming and its investors, several stock analysts say. As Las Vegas continues to rebound, Boyd Gaming’s locals-focused casinos there, including the flagship, Sam’s Town (l.), should generate more revenues, boost the company’s profits, and possibly raise its share price.
Detroit’s three casinos, including MotorCity Casino (l.), generated $1.38 billion in combined gaming revenues in 2015, marking the first time gaming revenues increased from one year to the next since 2011. A drop in gas prices and improve local economy largely are responsible for the increase in gaming, 83 percent of which was via slots, and the rest via table games.
The Mirage in Las Vegas plans a March opening of The Still, which is a new 8,000-square-foot sports bar that will serve food from an Airstream trailer and feature craft cocktails and 50 craft beers. Clique Hospitality will manage the new venue, which it likens to a combination sports bar and man cave.
After players noted the prize pool was severely short at an August poker tournament, the Florida Division of Pari-Mutuel Wagering investigated and found 11 violations, including letting players enter without paying for a buy-in, tournament money kept in the manager's office and no official player count released.
Glenn Straub, owner of the closed Revel casino in Atlantic City says heat has been restored to the building after eight months. The situation drew the attention of city code officials as winter temperatures set in.
The Mashpee Wampanoag Tribe of Massachusetts, homeless since the days of the Pilgrims, now has an official reservation based at Taunton. The tribe will soon begin work on a $500 million casino resort there, Project First Light (l.).
The Connecticut city of East Windsor has revealed the location of the 33-acre site that it is proposing for a satellite casino to be operated by the state’s two gaming tribes. The site is less than ten miles from the state’s border with Massachusetts.
The recently released 2015 Indian Gaming Cost of Doing Business Report by Joseph Eve CPAs analyzes data from 125-plus tribal casinos, providing insight into profitability and management. The 17th annual edition covers gaming revenue, non-gaming revenue, direct or departmental expenses and indirect or operating expenses.
A casino that was closed for 14 months and then reopened on New Year’s Eve has caused a noticeable increase in traffic on Highway 41 in California’s Madera County. When the Chukchansi Gold Resort and Casino reopened it caused bumper-to-bumper traffic the first day.
The Gun Lake Casino in Wayland, Michigan, is undergoing an expansion of its gaming and amenities that is focused on improving the customer experience. Already underway, the expansion is to be completed in 2017 and will add a 300-seat buffet, larger gaming area, and a bigger lounge for entertainment and relaxation.
Work is underway on the Little Traverse Bay Band of Odawa Indians’ new 5,000-square-foot casino in Mackinac City, which the tribe plans to open in time for the summer tourism season. The tribe will have 64 slots, in addition to pull tabs, lottos, and possibly non-banked card games among players, such as poker.
The Bureau of Indiana Affairs will hold a public hearing January 26 in Shabbona, Illinois—the first step to develop an environmental impact statement for the Prairie Band Potawatomi Nation's proposed casino. Tribal officials said the casino would offer 24-hour bingo, restaurants and lounges, with an economic impact of $12 million annually.
Alabama state Senator Jim McClendon (l.) wants a straight yes-or-no vote on a state lottery, with the logistics to be worked out later if voters approve a change to the state constitution, which now outlaws games of chance. Alabama is one of six states without a lottery.
A new contract with New Jersey’s private lottery provider will cut the state’s percentage of revenue by $1 billion over the 15-year life of the contract, according to an Associated Press analysis. The deal also lowers the amount of revenue the company must generate to avoid penalties.
Scientific Games will provide lottery services for the Arkansas Scholarship Lottery and the North Carolina Education Lottery through 2025. The company will provide instant game design, planning and manufacturing plus retail sales, warehousing and distribution for 1,900 Arkansas lottery retailers. Scientific Games also will print and distribute instant tickets for the North Carolina Lottery.
All but one of New York’s nine racinos posted revenue gains during 2015, leading to a record $9.4 billion in revenues. The state’s lottery also reported a significant gain, as more people participate in its PowerBall and other lottery offerings, but the traditional Mega Millions game posted a 16 percent decline.
Boyd Gaming Corporation Executive Vice President and Chief Business Development Officer Robert L. Boughner announced he will retire this summer. Boughner has held several key senior leadership positions in his 40-year career at Boyd Gaming. He will remain a member of the company's board of directors.
Senior Vice Presidents Josh Hirsberg (l.), Steve Thompson and Ted Bogich were named executive vice presidents at Boyd Gaming Corporation. Hirsberg will oversee the company's financial activities, Thompson will manage Nevada operations and Bogich will oversee the Midwest and South and Peninsula regions.
Joe Billhimer, the COO of Eldorado Resorts, has left the company. At the same time, Bob Jones, the company CFO, has announced his retirement. Tom Reeg, Eldorado president, will assume the CFO duties.
At the Tuolumne Band of Me-Wuk Indians' Black Oak Casino Resort in Tuolumne, California, former General Manager Ron Patel (l.) has been named chief executive officer and former Executive Director of Support Services Aaron Moss was promoted to general manager. Bradley Nelson also was hired as executive director of support services.
The Chickasaw Nation's WinStar World Casino in Thackerville, Oklahoma, has become the latest venue to offer EZ Baccarat by DEQ Systems Corporation, a leading provider of proprietary table games, table games systems and linking solutions. DEQ now has 750 EZ Baccarat tables in more than 130 casinos around the world.
Inspired Gaming has launched seven new HTML5 mobile games with William Hill, Gala Coral and other internet gaming sites, and company officials say they are a hit.
Three U.S. Indian gaming organizations will present a seminar series at the ICE Totally Gaming trade show in London that will showcase Indian Country to potential European partners. The series is produced by Pechanga.net Editor Victor Rocha (l.).
Interblock will show off its latest products at ICE 2016 in London next month. The Pulse Arena (l.) is designed to show operators how to enhance their customers’ gambling experience.
Konami Gaming will premier its new Concerto video upright cabinet among an extensive collection of product at the February ICE Totally Gaming trade show.
Aristocrat Technologies will unveil a diverse range of linked jackpot progressives in addition to a wide range of games at February’s ICE Totally Gaming trade show.
