On August 3 the Japanese IR committee released its Experts Committee report on gaming. With more information in hand, investors and analysts are asking if the odds have changed for a robust market in the country. Opposition to casino remains high among the Japanese public, but a local brokerage says two integrated resorts would be very successful.
A New Mexico tribe that fought for two years not to be forced to sign a gaming compact that would increase the share it pays to the state has thrown in the towel. The Pojoaque Tribe, which operates Buffalo Thunder (l.) south of Santa Fe, announced last week that it will sign a state tribal gaming compact, although it made it plain that it is doing so under duress.
Great Canadian Gaming and Brookfield Business Partners will take over casino and slot operations in the Greater Toronto Area, earning at least $72 million a year under a 22-year contract awarded by Ontario Lottery and Gaming. The deal includes Woodbine racetrack (l.), which will likely become a full-fledged casino, negatively impacting Niagara Falls.
MGM Resorts International last week announced the appointment of Jason P. Hyland, former Charge d'Affaires of the United States Embassy in Tokyo as the representative officer and president of MGM Resorts Japan.
The long-delayed stadium casino in South Philadelphia received approval after the state Gaming Commission accepted a solution from the majority owner of Parx casino over his involved with the partnership that includes the Cordish Companies.
DTTM Operations LLC, a company associated with U.S. President Donald Trump, has been approved by Macau lawmakers to register trademarks including casino services to bring the Trump brand to the gaming hub. Most doubt that a Trump casino will soon operate in the SAR.
Seminole officials and Florida Governor Rick Scott (l.) recently had a "social visit." They may have discussed the end the legal battle over blackjack and the tribe's $2.3 billion payment to the state. They also may have mentioned the Seminole Hard Rock Hollywood, which took in more than $579 million—more than all eight South Florida parimutuel casinos combined.
Should sports betting be legalized? That question divides America’s gaming tribes, with the tribes who represent the lion’s share of the profits leaning towards legalization and participation by gaming tribes. An initial release by the National Indian Gaming Association supporting the effort of the American Gaming Association required a clarification by NIGA Chairman Ernie Stevens (l.).
Different segments of the U.K. government are sending out conflicting signals as to whether the government will crack down on Fixed Odds Betting Terminals. One top government official wants to cut their maximum stakes from £100 to £2. The Chancellor of the Exchequer Philip Hammond (l.), on the other hand, reportedly wants to quash that effort.
Gaming suppliers Interblock and GameCo have established an advisory panel to counsel casino operators on the adoption of new products. John Connelly (l.), Global CEO of Interblock, says the group will try to determine how the industry can bring innovative solutions to the market at a faster pace.
The U.S. regional casino market is growing for all companies involved. Their optimism was noted on second-quarter investor calls and reflected the many opportunities available in the sector.
This week, the GGB Podcast features an interview with Richard Schwartz, the president of Rush Street Interactive, the iGaming arm of Rush Street Gaming, which owns casinos in Illinois, Pennsylvania and New York.
Kazuo Okada (l.), the Japanese machine gaming tycoon, was shot down by a Nevada court in his battle with Wynn Resorts and now has lost a defamation suit in Japan filed by a former executive. In both rulings, it’s his Philippines troubles that have come back to haunt him.
After years of controversy about offshore gaming, the government of the Indian state of Goa has announced that a fleet of casino cruisers, including the Deltin Royale (l.), will be required to move to land within three years.
Union Gaming says Vietnam’s gaming market is “likely larger than most expectations,” generating revenues of $1.2 billion. Vietnam just approved a three-year locals-gambling trial to be held at select casinos in the country.
Some Macau junkets are now going after “the well-heeled, rather than the ultra-wealthy,” according to a news report. Smaller VIP junket operations recently opened in the L’Arc (l.) and Legend Palace Hotel, among others.
Saipan’s new Imperial Pacific Resort, which opened Phase I of the complex in July, has seen a “gradual increase” in patronage by Filipino high rollers, according to a tourism marketing group.
JP Morgan Securities Ltd. says the Paradise City casino (l.), which opened in South Korea in April, poses a “stronger-than-expected” challenge to incumbent Grand Korea Leisure, and could tap into GKL’s customer pool.
The theater at MGM’s $3.3 billion integrated resort on Macau’s Cotai Strip (l.), due to open in the fourth quarter of this year, will be central to the entertainment experience there, says Chairman and CEO Jim Murren.
Waterfront Philippines Inc. has announced a plan to renovate four properties, including its three casino hotels. The company will spend PHP1.65 billion (US$32.6 million) on the project.
Chen Lip Keong, CEO of Cambodian casino firm NagaCorp Ltd., has been approved to take majority control of the company stock by the exercising conversion rights on two groups of convertible bonds.
Melco Resorts & Entertainment has not filed an application for gaming tables for the new Morpheus Hotel (l.) at its City of Dreams. Melco CEO Lawrence Ho has said the tower has capacity for 50 tables.
The Greek government has proposed that gaming operator OPAP be permitted to run a total of 25,000 video lottery machines, down from the current number of 35,000.
Coral recently partnered with Middlesbrough Football Club and Sunderland Association Football Club, and Ladbrokes with Sheffield United Football Club. The UK betting services benefit from increased presence at the stadiums and online. Bettors can collect winnings at the stadiums or Coral or Ladbrokes offices, and club supporters can access special offers and promotions.
Genting Casinos has announced it will partner with Blackpool Illuminations for the famous annual light show in the UK coastal resort of Blackpool. Genting Casino Blackpool will be displaying its own specially designed illuminations during the 66-day event.
Announcing half-year results, London-based bookmaker William Hill had a 10 percent increase in online business revenue but net retail revenue declined 2 percent. Chief Executive Philip Bowcock commented the gambling industry advertises too much on TV but with its strong brand recognition, William Hill would benefit from a cutback.
Crown Resorts would have posted a 15.7 percent net profit loss if not for the sale of its stake in Melco Resorts & Entertainment. Instead, Crown was able to report net profits up 96.7 percent for the year ending June 30. And majority owner James Packer (l.) has officially rejoined the board of directors.
Gaming opponents and social welfare groups in the Australian state of Tasmania will continue to push for a ban on poker machines in pubs and clubs as the government resumes its look at the gaming industry.
The anti-gambling group Bad Bets has been handing out flyers with graphic depictions of violence near a school in Melbourne, Victoria, Australia, protesting plans to open a gambling hall in the neighborhood. Parents have voiced concerns that the flyers are inappropriate and children may see the disturbing images.
The Australia Capital Territory government in Canberra reached a compromise limiting withdrawals on eftpos machines in club casinos to $200 per transaction, instead of completely banning them. Under the change, which takes effect September 1, gamblers can make an unlimited number of withdrawals but club casinos only may have one eftpos machine. Gamblers still can withdraw up to $250 daily at an ATM.
Michigan state Senator Mike Kowall is reviewing his online gambling measure and will hold meetings on it when legislators return to Lansing. The bill would have the Michigan Gaming Control Board regulate the industry and let land-based casinos apply for online gambling licenses. It also would let tribes regulate their own gambling sites.
Maine has adopted a daily fantasy sports law that declares DFS contests as games of skill and legalizes them in the state. There are now 15 states with approved DFS legislation. The Maine legislation sets a 10 percent tax rate. New York is also considering amendments to block “proposition” betting in its DFS law and DraftKings announced a new game designed to attract casual players to its site.
The Walt Disney Company is looking to host eSports competitions at its Walt Disney World complex in Orlando. The events would be held at the ESPN Wide World of Sports Complex, a 220-acre facility that can host over 70 types of sports. The facility focuses on youth-based events.
Philippine-listed gaming technology provider PhilWeb has acquired another eGames site from the country’s state-run regulator, the Philippine Amusement and Gaming Corp.
Ahead of the European soccer season, Betsson has launched a new mobile betting platform on its Betsson, Betsafe and Nordicbet brands. The company promises new features including more sports betting markets, live streaming and an improved mobile interface.
Digital payments business Paysafe's board of directors has agreed to 2.96-billion-pound takeover bid from Blackstone and CVC Capital Partners. The company secured an agreement on the 590p per share offer that was proposed by the private equity firms in July.
IGT’s Italian subsidiary Lottomatica recently launched lottomatica.it, offering Italian players online betting on local and international football matches and other sports, a live casino with 100-plus slots and table games and iLottery options. Managed by Paysafe's Income Access, the platform also offers affiliates commissions and bonuses
The Pennsylvania General Assembly adjourned for its summer break without addressing a massive gaming expansion package including the legalization of iGaming. The local community host fee is also in limbo, and officials with Mount Airy Casino Hotel (l.) say they will sue again if a flat $10 million payment is passed.
In its recently passed anti-gambling resolution, the Georgia GOP state committee said, "The state should not have a vested interest in predatory activities such as gambling." State Senator Brandon Beach (l.), who introduced a bill for two Georgia casinos, said the GOP should let state voters decide whether or not to OK gaming.
Florida regulators recently denied Dania Entertainment Center's request to be allowed to sell its summer jai-alia permit and allow a potential buyer to build in a new Broward County location. Dania said being unable to relocate the permit limits its "marketability" and lowers the opportunity for increased tax revenue and job creation.
The Wynn Boston Harbor has been building its $2.4 billion casino resort along the Mystic River for one year now. The casino resort celebrated that milestone last week and announced that it will officially open on June 24, 2019, ahead of schedule.
A new 44-seat blackjack stadium (l.) recently opened at Sands Casino Resort Bethlehem in Pennsylvania. Last year the casino debuted a150-seat electronic table games stadium with baccarat and roulette, designed to attract millennials. In the 2016-2017 fiscal year, electronic table games contributed nearly $5.5 million of Sands Bethlehem's table games revenue of $235.1 million.
Caesars Entertainment Operating Co. shaved its second quarter loss from last year to $1.4 million as it prepares to emerge from bankruptcy protection in the next several weeks. Revenue was basically flat year-on-year, as bad luck at the tables and hotel remodeling company-wide dampened results.
The Chicago-based owners of Sugarhouse Casino in Philadelphia, which opened in May 2016, recently were sued by Skanska USA Building for $14 million. Skanska claims Sugarhouse agreed to pay $123 million for work on an expansion but only has been paid $118. Also, the builder claims Sugarhouse made $8 million in unpaid changes.
Revenue at Maryland's six casinos and the state lottery rose 3.5 percent to a record-breaking $1.1 billion in the latest fiscal year, according to Maryland Lottery and Gaming Control. For the first time ever, casino revenue exceeded lottery profits. Officials credit MGM National Harbor, which opened December 1, 2016, for the impressive figures.
On its first anniversary as a public company, MGM Growth Properties, the REIT landlord for 10 MGM Resorts U.S. casino properties, announced a $0.03 dividend increase to $1.58. The company is expected to acquire MGM Resorts National Harbor (l.), which opened late last year south of Washington, D.C. in early 2018.
Eldorado Resorts generated $100 million in EBITDA in the second quarter, an 8 percent jump year on year, thanks to the sizable contribution of Isle of Capri. Revenue was down slightly to $426.8 million, but the company says Isle’s impact on cash flow is already making itself felt.
The American Gaming Association has written to the Treasury Department for clarification on money-laundering guidelines as they apply to Nevada’s casinos accepting cash that may be derived from legal marijuana sales in the state. The problem is pot is still illegal under federal law.
Las Vegas locals giant Red Rock Resorts announced plans to spend more than $220 million to renovate and expand the Palms (l.), which the company acquired last year, and Palace Station. The company says that with the Las Vegas Convention Center expanding and NFL football coming to town, the time to invest is now.
Atlantic City took another step towards fiscal solvency as its City Council approved an $80 million bond ordinance to repay casino tax appeal settlements brokered by New Jersey’s Atlantic City finance team. The settlements settle some of the most crushing debt facing the city which had been teetering towards bankruptcy.
The U.S. island territory is facing a shrinking economy and ballooning public debt. But a government plan to raise funds by hiking the annual license fee on slot operators will be devastating, the industry says.
La Center, Washington, is hoping to use some grant money from a local gaming tribe, and additional traffic generated by the Ilani Casino Resort (l.) to revive its own fortunes. The little city government is being hard hit by the closing of two of its fours card rooms—a direct result of the opening of the Ilani earlier this year.
Governor Mario Cuomo (l.) and Seneca President Todd Gates will have their first sit-down since the tribe halted 14 years of payments to the state from its three casinos. The Senecas say they’re following the terms of their gaming compact. But the larger issue could be New York’s new casinos.
The Mohegan Tribe has abolished seven management positions in its Pennsylvania property, Mohegan Sun Pocono. The casino has seen its gross revenues decline 5 percent over last year.
Arizona’s Indian gaming revenues have made a U-turn in the second quarter, with a 4.8 percent increase over 2016. The figures were released by the Arizona Department of Gaming.
A group that claims it helped the Chukchansi Casino in Coarsegold, California to reopen is suing the tribe. Osceola Blackwood Ivory Gaming Group says the tribe stiffed it and didn’t honor its management agreement for 25 percent of profits for five years.
The Otter Tail County board in Minnesota will consider whether to require further environmental review for the proposed Star Lake Casino and hotel. The board has until August 22 to decide if the tribe should complete a more detailed Environmental Impact Statement in addition to the Environmental Assessment Worksheet previously submitted.
A small town on Martha’s Vineyard, Massachusetts, and the Bay State are taking the desperate measure of appealing to the U.S. Supreme Court. They hope to overturn a lower court decision that allows the Wampanoag Tribe of Gay Head (Aquinnah) to build a Class II casino.
A $13 million expansion project is nearly completed at Harrah's Cherokee Casino in Cherokee, North Carolina. The first floor of the two-level attraction is designed for families, with a 16-lane bowling alley and 55-game arcade. Upstairs, an additional eight lanes and bar and restaurant will lure the 21-plus crowd.
The Ho-Chunk Nation recently opened an expanded and redesigned casino floor at its Ho-Chunk Gaming Casino in Black River Falls, Wisconsin. The new, non-smoking area features 200 additional slots, a high-limit area and a bar with a live-music stage. The project also features a remodeled buffet, new entry, parking lot and 123-room hotel.
Nonprofit organizations in Arizona are urged to apply for consideration in Gila River Gaming Enterprises' unclaimed jackpots program. The company, which operates three Phoenix-area casino properties, distributes the money from the previous fiscal year's unredeemed vouchers to qualified groups that have applied.
Lawrence Payer, one of nine former Winnebago Tribal Council members indicted last year by a federal grand jury for conspiracy, theft and wire fraud, recently was sentenced to five years probation and was ordered to pay $36,000 in restitution. The former officials conspired to skim more than $327,000 from the WinnaVegas Casino in Sloan, Iowa.
Frank Visconti, a pioneer in the growth of high-end retail in the gaming industry, is back with Steve Wynn. Visconti, who once headed retail operations at Mirage Resorts, has been named to the same position at Wynn Resorts as the company readies an unveiling of its new Wynn Plaza expansion.
Konami Gaming announced several promotions in key operational areas, including the promotion of Spencer Peterson (l.) to vice president, technical compliance.
Four women have been named to executive positions at four different tribal enterprises that encompass both gaming and non-gaming. All four are veterans of business and gaming. Holly Gagnon (l.) has been named president and CEO of Seneca Gaming Corp.
Erica L. Okerberg, an associate in the Greenberg Traurig law firm has been elected to the executive committee of the gaming law section of the Nevada State Bar.
Ming Mak, a 30-year gaming industry veteran, recently joined Live! Casino & Hotel in Hanover, Maryland as executive director of international relationship marketing. Mak, who opened Asian gaming rooms at Maryland, Pennsylvania and New Jersey casinos, will lead Live! Casino's multicultural team to increase international player development with emphasis on Asian players.
Casino industry veteran Valentina Dobre recently was hired as regional director for Romania at Bulgaria-based Casino Technology. Dobre brings in-depth knowledge of Romania's gaming industry to her new position, in which she will implement the company's overall corporate strategy. Previously she served on the board at Romslot Association in Bucharest.
Paddy Power Betfair Chief Executive Officer Breon Corcoran is stepping down, the company announced. He will be replaced by Peter Jackson, the U.K. head of financial technology firm Worldpay Plc. Jackson is a non-executive director at the company.
Social casino gamemaker Game Show Network has announced it has appointed Mark Feldman as its president and CEO. Feldman is the developer of the Wheel of Fortune slots and Bingo Bash games. He succeeds David Goldhill.
GameCo has partnered with musician/DJ Steve Aoki (l.) to develop skill-based video game gambling machines designed to appeal to millennials. The game will be developed under the title Steve Aoki’s Neon Dream and is a furthering of the company’s attempts to create skill-based games for casinos.
Chinese visitors to Caesars Palace, the Linq Promenade and Paris Las Vegas now can access the WeChatPay app at 16 point-of-sale locations to purchase show tickets, food or souvenirs. Caesars Entertainment is the first Strip operator to use the service, a part of the popular WeChat messaging service with 938 million monthly active users.
M2G Analytics will deliver a comprehensive suite of SaaS-based data analytics/visualization, business intelligence, and management support solutions to assist the global gaming industry in clearly measuring results and assessing key performance indicators to improve performance & drive profitability.
Japan, where gaming was recently legalized, the World Poker Tour has announced that it will bring four events to Tokyo. It is partnering with Japan Poker Union Corporation.
The Innovation Group hosted a webinar panel detailing the potential regulatory framework of legalized sports betting as part of its Emerging Leaders of Gaming series.
The West Virginia Limited Video Lottery recently licensed Billings, Montana-based Grand Vision Gaming to bring its software and cabinets to the state. GVG has maintained an office, showroom and warehouse in West Virginia in anticipation of the release, and has certified more than 50 technicians.
The machine gaming and payments processor generated a 17 percent in second-quarter EBITDA. Slot sales were a mixed bag during the period, but the company’s casino cash advance and ATM businesses both grew by double digits.
Interblock will display a wide range of products at this week’s Australasian Gaming Expo, including new electronic roulette, baccarat and roulette games.
The 28h annual Australasian Gaming Expo is coming to Sydney, Australia’s Darling Harbour. It will reportedly have 30 percent more exhibitors and 20 percent more attendees.
