Despite furious efforts of the Bahamian government to quickly find a buyer for the idle $3.5 billion Baha Mar project, insiders say China holds the project’s fate, and when it is sold. Sarkis Izmirlian (l.) has been forced out as the owner and developer, and is pursing a lawsuit against the Chinese companies in the United Kingdom.
After New Jersey Governor Chris Christie unexpectedly pocket vetoed an Atlantic City rescue plan, the resort is now facing a possible bankruptcy, according to the city’s mayor, Don Guardian (l.). The city will consider filing for bankruptcy at an emergency council meeting this week, he said. Meanwhile, state Senate President Stephen Sweeney renewed his call for a complete takeover of the city by the state precisely to avoid the city filing for bankruptcy. The city vowed to fight a takeover. Meanwhile, plans for new casino construction in the state remain on track.
This summer, construction is expected to begin on Jamaica’s first and second integrated resorts, Celebration Jamaica in Montego Bay and Harmony Cove (l.) in Trelawny. Both are billion-dollar projects that will employ thousands of people.
Georgia legislators will consider House Bill 677 proposing a constitutional amendment to allow six casinos, including two in Atlanta. If passed, lawmakers would enact "enabling" legislation in 2017. Governor Nathan Deal (l.) wants a much higher tax rate. Meanwhile, the Georgia Horse Race Coalition is ready to move on a mixed-used horse racetrack if parimutuel wagering legislation passes.
John Payne (l.), the chairman of the key gaming committee in the Pennsylvania House of Representatives, says chances are good for legalization of internet gaming this year.
Taiwan’s new president, Tsai Ing-Wen (l.), could put a damper on prospects to bring gaming to the territory. In 2009, the anti-gaming lawmaker urged peers in the Democratic Progressive Party to vote against gaming referendums.
As the Seminole tribe and Chairman James Billie (l.) launched TV ads promoting it and No Casinos launched a campaign against it, the Florida Senate Regulated Industries Committee last week heard public testimony on the proposed Seminole compact, which would allow blackjack, craps and roulette at Seminole casinos in exchange for $3 billion over seven years. But a trial could get under way next summer that could permit the table games to remain, even without a compact.
The Mandalay Bay Resort and Casino completed a $70 million expansion of its convention center by opening the 70,000-square-foot Oceanside Ballroom in January. The new ballroom is in addition to a new 350,000-square-foot exhibit space, 20,000-square-foot foyer, and underground parking, giving the convention center more than two million square feet of exhibition space.
With an uneven year behind us, what will 2016 bring for gaming investors? The fourth quarter reports should give some hints about some of the issues that follow the gaming industry this year.
This week the GGB Podcast features an interview with Derek Stevens, the co-owner of the D Casino, the Golden Gate casino and the recently purchased Las Vegas Club in Downtown Las Vegas.
Chinese legislators have pledged to continue and even strengthen the anti-corruption campaign called for by President Xi Jinping (l.). Fallout from the crackdown has led to an 18-month decline in Macau’s gaming industry and an exodus of VIP players.
Almost 90 percent of IPO capital and other funds earmarked for Phase II of Resorts World Manila have been invested. Phase II of the property will include a convention center and an expanded Marriott Hotel.
Vietnam will not get its national casino industry off the ground without decreasing the minimum investment and ideally allowing locals to play. The country is expected to license three new IRs in addition to Ho Tram (l.), which opened in 2013.
Japanese brokerage firm Nomura predicts Genting Singapore Plc, which operates Resorts World Sentosa (l.), will see a “somewhat better” 2016. Its stock price dropped 29 percent in 2015, and net profits were down 62 percent in the third quarter.
Macau now has 141 licensed junket operators, down by 35 junket as of last month. Those 35 failed to submit their accounts in line with new accounting regulations put in place after the Dore Entertainment theft.
The government of Maharashtra may soon move to enact long-dormant legislation to legalize casino gaming in the Indian state. But union minister Nitin Gadkari (l.) is fighting the plan, saying there are better ways to draw tourists.
Enrique Razon (l.), chairman and CEO of Philippines casino operator Bloomberry Resorts Corp., is taking a cautious approach to expanding the company’s Solaire resort in Manila, given quarterly losses in 2015.
A risk mitigation firm says the biggest threat to Macau isn’t the mainland’s crackdown on corruption, but terror organizations like ISIS, which may be motivated to attack the territory’s “America, Jewish and Chinese interests.”
Australia-listed Frontier Capital Group Ltd. will complete its acquisition of the Hotel Stotsenberg (l.) and Casablanca Casino in the Philippines before the end of January, the company has announced.
The Greek betting firm OPAP requested the annulment and suspension of a new tax that took effect January 1, imposed by the Greek Finance Ministry to help the Greek Finance Ministry raise $327.3 million in annual revenue. OPAP claims the tax is unconstitutional and technically impossible to collect.
The Romanian National Gambling Office rejected bet365’s request to end the temporary suspension of its online gambling license, imposed in October. bet365 filed a criminal complaint in December alleging the suspension was a move to help local operators.
Luigi Tancredi, known as the “King of Slots,” was arrested with 10 others by Italian police for running illegal video lottery and online gambling operations. The businesses used 12,000 virtual gaming tables throughout Italy. Tancredi has been linked to members of the Naples-based mafia group Camorra.
William Hill sees a strong 2016 after a tepid 2015 where it adjusted to “new market conditions” and additional taxes in the UK. The betting and gaming corporation says it hopes to rely on new technology developments, including a newly introduce platform: Trafalgar.
A joint investigative report by BuzzFeed News and the BBC alleges that some of the world’s top international tennis players sometimes accept bribes to throw matches. Half of the players named are involved in the current Australian Open, including Russia's Nikolay Davydenko (l.).
Belleville, Ontario is very likely to get its own casino soon, according to its mayor, Taso Christopher. He predicted last week that Ontario Gaming East Ltd. would present a proposal before the end of the month.
British bookmaker Ladbrokes’ proposed merger with Australian betting group Tabcorp is a no-go. Ladbrokes hoped to establish a footprint Down Under with the country’s leading online operator.
The British Horseracing Authority says Gala Coral Corp.’s offer of 7.5 percent of its online and retail racing profits is “unrealistic,” as it would provide less funding than the bookmaker offered in October.
In the battle between Australian casino giants Star Entertainment Group and Crown Resorts, Star just made a decisive move, announcing it will spend $1 billion to upgrade its Sydney property (l.).
Canadian Mounties led a combined task force in a raid on several cafes and a private residence in Toronto last week that seized more than 50 slots that authorities said were being used to aid organized crime.
The B.C. Lottery Corporation has been sued for "negligent misrepresentation and interference with economic relations” by Pinnacle Gaming Solutions, owned by David Moretto of North Vancouver. Moretto claims the BCLC misled Pinnacle for years about a tribal casino development, and then granted exclusive development rights to Playtime Gaming.
As the daily fantasy sports industry continues to fight state-by-state legal battles, the constant challenges have finally taken a toll as FanDuel is reportedly laying off workers. The company has denied the report in Forbes Magazine. Meanwhile, Texas Attorney General Ken Paxton (l.) and his counterpart in Vermont declared DFS sites illegal in their states—joining New York and Illinois—and Maryland’s attorney general questioned their legality in that state. And Nevada plans to revisit its ban on the activity.
Haden Ware, co-founder of an Antigua-based sports betting site, has plead guilty to a gambling conspiracy charge in the U.S. Ware returned to the U.S. to make the plea after being a fugitive since 2002. An indictment in 2002 accused him and two others of operating a sports betting business, World Sports Exchange, since at least 1996 through 1998.
Wynn Las Vegas will have a new mobile sports betting app up and running in time for the annual March Madness NCAA men’s basketball tournament and likely will add a race-betting app in time for the Kentucky Derby in May, Wynn Las Vegas announced. Wynn worked with Miomni Gaming over the past two years to develop the gaming app.
BetStars has launched a new product designed to give players a chance to win 10 times their bet on sports contests. To use the new Spin & Bet feature, players choose their bet from the available markets, enter their stake, and click Spin & Bet. A random multiplier of potential winnings is then chosen.
Paddy Power looks is set to complete its $14 billion merger with Betfair after the merger was approved by Ireland’s Competition and Consumer Protection Commission.
GoldenPark.es, a leading Spain-facing sports book and online gaming brand, has relaunched its affiliate program in partnership with software supplier Income Access.
The judge in the bankruptcy case of Caesars Entertainment’s largest operating unit has threatened to dismiss the case without information on controversial transactions.
The largest gambling bill in the history of New Hampshire is not given great odds for passage in the Granite State legislature. The bill by Rep. Dan McGuire would allow taverns and restaurants to have video lottery terminals. The bill holds out hope for dormant Rockingham Park racetrack (l.), which has been closed since 2009.
Work on two of four proposed casinos in Upstate New York are underway after state gaming regulators issued gaming licenses to three casinos in December. Empire Resorts announced a stock sale to fund construction of its Montreign Resort Casino (l.) at Adelaar, and workers in Tyre placed the first steel support beam for the proposed Lago Resort & Casino, which faces a new lawsuit.
Slots revenues at Plainridge Park in Plainville, Massachusetts declined again last month. Penn National Gaming indicated last week that it is tired of hearing about it, referring to the “seemingly endless critical commentary.”
Florida Attorney General Pam Bondi's (l.) office now has more time to prepare legal arguments before the state Supreme Court in a case brought by the Poarch Band of Creek Indians which wants to offer slots at its Gretna racetrack. The property is located in Gadsden County where voters approved slots in 2012.
MGM Resorts International announced it will begin charging for parking at most of its Las Vegas Strip properties starting in April, when MGM’s new 20,000-seat T-Mobile Arena (l.) opens for business. MGM is the largest and first casino operator on the Las Vegas Strip to charge for parking, which has drawn mixed reviews.
While three MGM Resorts International, Caesars Entertainment, and Pinnacle Entertainment are working on putting together REIT offerings for investors, an investment analyst for Fitch says the large casino companies need too many capital improvements and the gaming industry is too cyclical for a REIT investment to make sense for investors.
Atlantic City’s former Showboat casino has been sold again, this time to a Philadelphia developer by Stockton University. The school announced it had finalized the $23 million sale, ending a disastrous investment by the university, which had hoped to convert the building into an Atlantic City campus. The new owner, Bart Blatstein, has not said what he plans for the site.
Shawn Scott, a Nevada-based casino developer who is pushing a plan to allow a third casino in Maine is being accused of misleading tactics in his effort to qualify an initiative for the ballot.
The Nebraska Legislature voted 16-14 against changing the official definition of what constitutes a game of chance. The lawmakers declined to say that poker is a game of skill, which would open it up to being legal in the state.
Nevada casino operators no longer have to prove they are buying energy from alternative sources in order to stop buying power from the state’s largest utility, but they still need to pay $126.6 million to do so, the Nevada Public Utilities Commission ruled. Several casino companies want to buy more affordable power elsewhere, but state regulations are stopping them.
A proposed 100,000-square-foot video gaming casino along the western grandstand at Belmont Park (l.) in New York is drawing organized opposition from locals who say it would increase crime, tie up local traffic, and drive down property values. Nassau Regional Off-Track Betting announced the project last month, but it needs approval from state lawmakers.
Pinnacle Entertainment, owner of three Missouri casinos in St. Louis and Kansas City, wants the legislature to ease July 2014 rules allowing qualified customers to borrow at least $10,000 to be repaid in 30 days, in favor of letting credit-worthy players borrow less without the hassle of proving they're qualified.
Developer Glen Straub (l.), the owner of Atlantic City’s closed Revel casino, says he plans to reopen a casino at the site. The casino would be smaller than the property’s previous casino space, and would have a new name. He did not give a timeline for reopening.
Pinnacle Entertainment will sell its Ameristar Casino property in Council Bluffs to a REIT under a plan approved by the Iowa Racing and Gaming Commission. Pinnacle will receive more than $1 billion in financing. Chairman Jeff Lamberti said commissioners will maintain regulatory control although the property will be leased, not owned.
All three Detroit casinos posted revenue gains and a composite increase of 3.3 percent over 2014, according to the Michigan Gaming Control Board. MGM Grand (l.) revenue rose 3.7 percent to $582 million, MotorCity revenue grew by 4.4 percent to $464.5 million and Greektown revenue increased 1 percent to $329.9 million.
Atlanta may be the current casino development hot spot, but Genting and Isle of Capri have their eyes on Florida. Genting, which spent $500 million on the former Miami Herald building (l.) in 2011for the planned $3.8 billion Resorts World Miami, now is considering a slots-only casino. Isle wants its taxes lowered and blackjack tables.
The former Dania Jai Alai, closed for more than a year, recently debuted its $64 million renovation and new name, the Casino at Dania Beach. The property features a 500-seat jai alai court and a gaming floor with 880 slot machines, 21-table poker room, simulcast area, electronic gaming room, plus sports bars and restaurants.
Since it opened in 2011, Rivers Casino in Des Plaines, Illinois has posted consecutive revenue increases. But not in 2015 when it brought in $425 million, about the same as 2014. Still, that’s more than twice the total as second-place Harrah’s in Joliet with $186 million, down from $199 million in 2014.
A Mohegan Sun vice president, beverage server, and a third person are accused of using bogus player’s cards loaded with fake funds to steal nearly $420,000 from the casino over a year. Two casino workers copied existing cards, loaded them with excess funds, and gave them to an accomplice to use slot machines to withdraw the excess funds, police say.
A New Mexico pueblo has opened a small slots only casino about 15 miles from Santa Fe. The Nambé Falls Casino (l.), operated by the Nambé Pueblo has 180 slot machines and bills itself as a “boutique” casino where convenience is stressed.
The Oneida Indian Nation soon will begin work on the delayed $100 million retail expansion of the tribe’s Turning Stone Resort Casino in Verona, New York. A large response from prospective retailers necessitated design changes that delayed the expansion by about a year, as it was moved to a different part of the resort.
The Seneca Nation of Indians and Seneca Gaming Corporation earlier this month held a formal groundbreaking ceremony as work got underway on a $40 million expansion of the Buffalo Creek Casino in Buffalo. The tribe is adding 28,500-square-feet of gaming and retail space on two floors and anticipates hiring another 300 workers when done in 2017.
Kansas Attorney General Derek Schmidt (l.) and Cherokee County are appealing a federal judge's ruling allowing the Quapaw Tribe's Downstream Casino to expand into Kansas. And the Quapaws sued Governor Sam Brownback, claiming he did not negotiate a gaming compact in good faith, as required under federal law.
The Cowlitz Tribe of Washington state has the go-ahead to build a casino in La Center after a federal judge dismissed lawsuits by opponents of action of the Bureau of Indian Affairs to put land into trust for the tribe.
The Interior Department last October stated the Tigua and Alabama-Coushatta tribes may offer gambling on their Texas reservations, referencing a 1987 ruling allowing the tribes to offer gaming "lawful under Texas state law." Does that mean the state must pass a law banning games it doesn't want, or authorizing games it would allow?
Although the Grand River Bands of Ottawa Indians of Michigan recently purchased a riverfront building on the Grand River, the tribe has no plans for a casino there.
Slot revenues at the Mohegan Sun and Foxwoods Resort Casino took different directions in the last month of 2015, which revenues going up at Foxwoods and down at the Mohegan Sun.
Chapters of the Navajo Nation are not yet seeing any gaming money, despite the fact that the nation has had casinos for eight years and they have paid the nation $6 million since the first one opened.
A tribe in Northern California, the Wilton Rancheria, has released an environmental report that details a proposal for a casino resort and 12-story hotel in the Sacramento Valley.
FireKeepers Casino Hotel in Battle Creek, Michigan recently provided training for more than 100 security officers in active shooter recognition and reaction, drug awareness and human trafficking. Vice President of Security and Surveillance George Jenkot led the sessions at the property, owned by the Nottawaseppi Huron Band of the Potawatomi.
In California, Florida and Tennessee, the three states with winners in the recent record $1.6 billion Powerball drawing, winners must reveal their identities. But other states let winners remain anonymous. It's a struggle between the privacy and safety of the winner versus promoting sales, removing public doubt and minimizing cheating.
Australian gaming company Tatts, which now enjoys a near-monopoly on the country’s lottery and won more than $2 billion in 2015, faces new competition in Lottoland, an online lottery operator based in Gibraltar.
James Stewart has been named chief executive officer and Andy Chien has been named chief financial officer at MGM Resorts International’s new trust, MGM Growth Properties LLC. They will lead the formation of the trust and its initial public offering. Both previously worked at the investment bank Greenhill & Co.
The AGA has hired Andrew Ortale, and experienced executive in the areas of trade shows, meetings and conventions, as vice president of industry services.
Hard Rock International recently named Kresimir Spajic senior vice president of online gaming. In his new position, Spajic will lead the brand’s vision, strategy and operational execution across interactive gaming platforms and help secure new strategic partnerships and future opportunities for Hard Rock Hotels & Casinos.
The former head of B.C. Lottery Corporation, Michael Graydon, will resign as president of Parq Holdings LP this month. Graydon was hired to oversee the construction and operation of the $600 million Edgewater Casino but an audit discovered conflict of interest as Graydon negotiated his new job with a company that relies on BCLC.
Evolution Gaming's group management team announced David Craelius has joined the company as group chief technology officer. Prior to joining Evolution, the highly experienced Craelius was chief executive officer at Gavagai, chief technology officer at Klarna, head of banking at Avanza and chief information officer at Nordnet.
Junket operator Jimei International Entertainment has appointed Andy Tsui Kin Min as the company’s executive director, effective January 15. Tsui was formerly chief financial officer.
Ainsworth Game Technology has finalized the acquisition of Class II supplier Nova Gaming LLC, giving the Australian company entry into the U.S. Class II tribal market. CEO Danny Gladstone (l.) says the buy signals continued North American growth.
The Association of Gaming Equipment Manufacturers announced eight new members—including GGB’s parent—bringing the gaming supplier trade group to 149 members.
Affinity Gaming hired Trustwave to analyze and contain a data breach affecting 300,000 customers. During that investigation, a second cyberattack occurred that Trustwave missed—although it declared the threat was contained. As a result, in one of the first of its kind lawsuits, Affinity is suing Trustwave in federal court, seeking $100,000 in damages.
Taxi passengers in Southern Nevada are forced to pay excessive fees for credit card payments and an unnecessarily high fuel surcharge that puts tens of millions of dollars into the pockets of Southern Nevada’s 16 cab companies, a state internal audit says, while advocating the dissolution of the Taxicab Authority that allows it to happen.
DEQ Systems once again has tapped the talents of Union Gaming Systems partner to examine new “strategic” business alternatives that will maximize value for its shareholders. Among possible strategic moves are an acquisition or merger, but DEQ said it will not comment on potential moves until final decisions are made.
DRGT’s has installed its decentralized slot system at Casinos Austria International’s new casino in Batumi, Georgia. CAI says the system ensures “no potential single point of failure.”
The producers of next week’s ICE Totally Gaming trade show at London’s ExCel Centre (l.) say this year’s edition will be the largest on record for the international exhibition.
The Macau Gaming Equipment Manufacturers Association, representing the top 150 gaming and entertainment corporations in Asia, will launch its first ever international relations campaign at this year’s ICE Totally Gaming Show in London.
