The divorced pair of power brokers, Steve and Elaine Wynn (above), have agreed to end a long-running court fight over control of their Wynn Resorts stock, an agreement could put their combined 21 percent stake on the market. Steve Wynn may have to sell to satisfy regulators as a result of his sexual harassment allegations, but new Wynn CEO Matt Maddox says he’s seen nothing to indicate the company is a takeover target.
As Macau’s gaming operators await details about the city’s gaming concession renewal process, David Chow (l.), the CEO of Macau Legend Development says the market can accommodate two to three more casino concessionaires. What would happen, however, if Las Vegas Sands would be permitted to take over the Wynn properties?
West Virginia Governor Jim Justice (l.) allowed a sports betting bill to become law without his signature. The bill excludes major sports leagues' desired 1 percent integrity fee, but Justice said he may call a special session to modify the measure to include a .25 percent fee. Kansas, Missouri, New York and Louisiana also are considering sports betting bills.
In a 66-22 vote, the Oklahoma House approved the state’s 102 tribal casinos, including the massive WinStar casino (l.), to offer roulette and craps in return for paying the state a monthly exclusivity fee of 10 percent of net winnings. Lawmakers removed a sports betting provision. Analysts said exclusivity fees could generate $22 million in the first year and $49 million annually after that.
Kevin O’Toole (l.), executive director of the Pennsylvania Gaming Control Board, told lawmakers that the state gaming board will begin accepting applications for online gaming licenses in mid-April. The original land-based casino licensees will get first crack at the applications, with several different payment structures.
The second episode of the UNLV Gaming & Hospitality Education Series will be held on April 24 at UNLV and feature a discussion on non-gaming revenue and attractions. The day will wrap up with a description of how gaming and non-gaming coexist and thrive together by Bob Boughner (l.), a principal with Global Market Advisors and the developer of the Borgata in Atlantic City, New Jersey’s most successful casino.
The American Gaming Association used the beginning of the NCAA men’s basketball tournament to once again highlight the need to eliminate the federal ban on sports betting. AGA President and CEO Geoff Freeman (l.) said more than $10 billion will be wagered, the vast majority illegally, on the event.
The recent IPO from AGS has been a success, with the bid being fully subscribed. While the company has used the capital to help reduce debt, the innovation and strategy has investors salivating.
This week, the GGB Podcast features a discussion with Peter DeRaedt, the president of the Gaming Standards Association, about the 20th anniversary of the organization and what has been accomplished during that time.
Cambodia is pursuing more foreign investment in its casino industry. Legislation on the table would set the gaming tax rate at between 4 percent and 5 percent. There are currently 65 licensed casinos in the country. Chinese Ambassador Xiong Bo (l.) said that only investors interested in eliminating money laundering would be accepted.
The Philippine Amusement and Gaming Corp. is moving to sell two parcels of land where Solaire Resort and Casino (l.) stands in Manila’s Entertainment City casino zone. Previous auctions for the land under the resort have failed.
Casino operator Silver Heritage Group marked the official grand opening of its Tiger Palace Resort in Nepal last week. A two-day gala celebration included “exhilarating, heart-stopping entertainment,” the firm said.
Law enforcement in South Korea reportedly raided the offices of the Ministry of Culture, Sports and Tourism with a search warrant connected to an investigation of illicit hiring practices at Kangwon Land Casino.
An Indian industry gaming group is crafting self-imposed regulations on skill games to avoid the multiple jurisdictions in Indian from attacking this problem with a patchwork of solutions.
A senior police officer in Vietnam was arrested March 11 on suspicion of involvement in an international gambling ring. The arrest is part of a reported widespread crackdown on corruption in the country.
Malta’s Parliament will consider a new gaming act, which would consolidate all of Malta’s gambling laws. The act will be presented to Parliament for a first reading, along with other legislation according to Maltese officials. The new act covers regulation as well technical directives and guidelines. It also includes new consumer protections and regulatory powers for the Malta Gaming Authority.
One of Italy’s most powerful politicians, Silvio Berlusconi (l.), wants to reopen one of the historic casinos that used to dazzle in Southern Italy in the old days. He has his eyes on the Casino in Taormina as a way of generating more tourism.
The Club Hotel Casino Loutraki in Greece has reopened after the operator paid €250,000 (US$310,000) in outstanding gaming taxes. The debt-laden casino has also filed for bankruptcy protection.
The sixth casino license for Granada will be awarded in April or early May, says María Jesús Montero, minister of finance and public administration for Andalusia. Montero said several major companies are vying for the license.
Mesirow Financial has completed the purchase of three Gateway casinos in British Columbia for $500 million. It plans to lease them back to Gateway, including the Grand Villa Casino Burnaby (l.).
Sydney has seen a billion-dollar building boom funded by poker-machine profits, reports the Sydney Morning Herald. The casino clubs in western Sydney pay minimal taxes, freeing tons of cash for development, like the Harbord Diggers development (l.) in one of Sydney’s poorest neighborhoods.
Tony Fung’s Aquis Group has reported a loss of A$13.8 million (US$10.9 million) at Casino Canberra for 2017. The Hong Kong-listed group still predicts the Aussie casino will prosper after a multimillion-dollar upgrade.
Private operator of Southwestern Ontario, Canada gambling, Gateway Casinos and Entertainment Ltd. announced it will move the slots operations at Dresden Raceway to Chatham, an hour from Caesars casino in Windsor. Dresden will remain open until 2020. The move still requires government approvals and finalizing the Chatham land purchase.
Latin American hospitality company Enjoy has recorded an increase of 2.3 percent year-on-year in its gaming segment, and cut its losses by as much as 98.04 percent compared to the previous year.
According to a report at Axios.com, daily fantasy sports giant FanDuel is in talks to go public, but not through a conventional IPO. The company is considering a reverse merger through a special purpose acquisition company. The method involves raising money from public markets for acquisitions and is seen as a shorter and less expensive way for private companies to go public.
GVC has received backing from both its shareholders and Ladbrokes Coral shareholders to acquire Ladbrokes. The deal is for £3.2 billion ($4.4 billion) but could rise depending on the UK’s setting of a new maximum bet limit on fixed odds betting terminals.
Hard Rock Hotel & Casino in Atlantic City is still months from its planned opening, but has already launched an online presence with a social casino site. Hard Rock said the site would feature “Hard Rock branded” social games.
Arlington, Texas has announced a plan to transform space in its convention center into a state-of-the-art eSports stadium. The 100,000-square- foot space will be the largest eSports venue in the country and is scheduled to open this fall in Arlington’s entertainment district.
The possible opening up of U.S. sports betting was cited as a reason for Malta-based Gambling.com Group’s acquisition of Bookies.com—which has a portfolio of 76 sports betting related domains—for a reported £6 million. The move shows the company is moving into sports betting and officials specifically cited the pending U.S. Supreme Court ruling on New Jersey’s case to strike own a federal ban on sports betting as one reason for the move.
Paddy Power Betfair, which is facing challenges from a changing demographic, more competition and increased regulation in the UK and Australia, announced that it is increasing marketing spending. Newly appointed CEO Peter Jackson talked about the changing world that bookmakers operate in.
A woman known simply as “Jane Doe,” in the courtroom will be able to keep her name out of the public eye, despite having won a $560 million Powerball jackpot. That was the ruling of a New Hampshire judge last week.
The UK Government has issued assurances to Gibraltar-based business stakeholders that businesses in the protectorate will have access to UK markets through 2020. The policy includes online gambling companies based in Gibraltar.
New South Wales government officials are asking for public input on whether it should update its gambling taxes to include online gaming. The Australian state currently taxes racing and sports betting at their point of sale. Several Australian states are considering point of consumption taxes on online wagering with South Australia already approving a measure.
A bill that would allow residents to pay state income taxes in cryptocurrencies is advancing in the Arizona Legislature. The bill, which was approved by the state senate last month, has been unanimously approved by the House of Representatives' Ways And Means Committee.
Live table games operator Codeta has completed its latest funding round, raising €600,000 through convertible loan financing. The capital will for marketing and to fund an uptick in VIP players that the operator has acquired since its recent re-design, the company said.
BetGenius, provider of trading and sportsbook management technology, has extended its long-standing partnership with Sky Bet, the company announced. The agreement will see BetGenius continue as the primary trading provider of pre-match and in-play content and pricing across all sports. Sky Bet’s UK and Italy-facing sites will also benefit from BetGenius’ unique High Availability Cash Out service, the company said.
Virginia should be "open-minded" about reopening Colonial Downs racetrack (l.) and offering historical racing machines there. A bill allowing the slot-like games passed the House of Delegates by wide margins last month. The machines could generate $161.9 million annually, officials said. Revolutionary Racing may buy the racetrack if the machines are offered there.
After snow delayed the auction for Pennsylvania’s fifth satellite casino two days, the rescheduled auction on Friday, March 9 drew no bidders for another mini-casino. If no further bids are received during subsequent auctions, a second round of bidding for non-Pennsylvania gaming companies will be conducted.
Louisiana legislators will consider a number of measures that could significantly change the state's gambling industry. Proposed legislation would allow riverboat casinos to move ashore and racinos to offer table games. Harrah's New Orleans (l.) would build a second hotel, truck stops would offer video poker and fantasy sports operators would enter the state.
Lawmakers in a key Delaware legislative committee have temporarily shelved a bill that would lower the tax and fee burden on the state’s three casinos, under an agreement with the state’s governor, John Carney (l.).
Delaware North, owners of Wheeling Island Hotel-Casino-Racetrack in West Virginia, recently closed the $27.6 million purchase of Mardi Gras Casino & Resort (l.) in Nitro. Delaware North officials said they'll keep the name and add updated slot machines, and open a sports betting venue if the U.S. Supreme Court lifts the federal ban.
Caesars Entertainment is partnering with a trio of leaders in virtual reality entertainment, including rock star Perry Farrell (l.), on a $100 million multi-themed attraction at the Linq. Titled “Kind Heaven,” the project is slated to open next year as a totally immersive, one a one-of-a-kind augmented reality experience.
Florida House Speaker Richard Corcoran (l.) and Senate President Joe Negron declared gambling legislation failed despite "good faith efforts." Legislators faced extra pressure because a constitutional amendment giving voters future gambling approval will appear on the November ballot. Proposed legislation would have extended the Seminoles' blackjack monopoly in return for $3 billion over seven years.
Caesars Entertainment told the Indiana Gaming Commission it should not be required to pay $50 million in license transfer fees for purchasing Hoosier Park and Indiana Grand (l.) racinos for $1.7 billion. Caesars said it may drop plans to build a $90 million land-based casino in southern Indiana over the fees.
The National Council on Problem Gambling has issued Responsible Gaming Principles for Sports Gambling Legislation. The document contains precepts that the council hopes local and perhaps federal lawmakers will employ if they are called upon to write laws regulating sports better—which is currently illegal in most states.
Downtown Springfield, Massachusetts has for years been considered an unsafe place at night. That’s going to change says Jason Rucker, who took over recently as the new director of security for the MGM Springfield. Rucker promises a “newer, safer downtown.”
The Maryland House of Representatives has given preliminary approval to a bill that would extend the period casinos have to recoup losses before they are taxed on them at 20 percent.
Harrah's Casino (l.) in Metropolis, Illinois reopened March 15 after closing February 25 due to flooding on the Ohio River. The 490 employees were paid during the closure, and many used the time to help clear debris and to volunteer in the community. The last time the casino closed due to flooding was in 2011.
Full House Resorts President and CEO Dan Lee (l.) thinks that if Cripple Creek, Colorado has a nice hotel that people will stay in the gambling town and play more at local casinos. That’s the story behind his $100 million, 170-room proposal.
Arkansas Attorney General Leslie Rutledge (l.) again rejected the wording of a constitutional amendment to permit four casinos in the state. The ballot title was too long and the text was too ambiguous, Rutledge said. She must approve the proposal's wording before supporters can begin collecting enough signatures to place it on the November ballot.
The cold winter has hurt Atlantic City’s casinos as casino revenues were down 6.5 percent in February. Online gambling, however, remained a bright spot bringing in $21 million. The city’s seven casinos took in $192 million for the month.
Jack Entertainment announced the rebranding of its Greektown Casino-Hotel in Detroit will take place at the end of summer, later than previously scheduled, in order to facilitate a seamless technological transition. The multimillion dollar renovation also will feature seven dining options, including Monroe Market and Noodle Art, which will open in May.
After an 18-month trial, St. Charles, Illinois aldermen voted 6-3 to indefinitely extend an ordinance allowing video gambling. The April 30 sunset clause will be removed after the city council ratifies the measure. As of January 1, 55 video gambling machines at 13 establishments generated taxes of $595,354 for the state and $119,070 for the city.
The Connecticut legislature has begun hearings on a bunch of gaming-related bills. Some of them would open up the state to commercial casino bills, which would, in turn make it possible for MGM to bid its proposal for a $675 million casino (l.) in Bridgeport.
With a favorable court ruling, a tribal state gaming compact, and land to call its own in Elk Grove, the Wilton Rancheria of California is moving forward on building a casino near Sacramento at an unfinished outlet mall (l.). The $400 million casino will have 2,500 slots and a hotel with 302 rooms.
A bill been introduced in the U.S. Senate by Senator John Hoeven (l.) to benefit Indian tribes by giving them more responsibility and self-governance. It originated in the Senate Committee on Indian Affairs.
The Pechanga Band of Luiseño Indians last week opened a $300 million expansion of their Pechanga Resort and Casino, marking the occasion with a fireworks show (l.). Now the largest casino on the West Coast, it was once a collection of trailers and tents.
To achieve their dream of an off-reservation casino that will be more profitable than its existing Eagle Mountain Casino, the Tule River Tribe of California will need local support. The tribe has applied to put 40 acres into trust and as actively courting city and county leaders.
The Tulalip tribe of Washington state has begun construction of a $140 million casino resort that will eventually take the place of its old Quil Ceda Creek Casino. The new facility will have 150 rooms and 1,500 slot machines.
Belmar Mayor Matt Doherty has been named as the deputy executive director of the Casino Reinvestment Development Authority—a post that pays $150,000 a year. Doherty has extensive political connections with the new governor of New Jersey, Phil Murphy.
The Mississippi House voted 88-26 for a bill that includes an amendment drawn up by state Rep. Alyce Clark (l.) banning the state gaming commission from receiving any money unless the state approves a lottery. The measure now goes to a House-Senate conference committee where the provision could be removed. Otherwise, the gaming commission would have no money for gambling regulation.
Scientific Games announced a new five-year contract with the Arizona Lottery, under which it will provide systems technology at the lottery’s headquarters. The company also announced the launch of the National Lottery of Kazakhstan.
Scientific Games has named Robert O’Connor senior vice president of government affairs, responsible for directing the company’s global government relations and public affairs.
Resorts World Catskills, the newest and largest of New York’s new commercial casinos, has put together a marketing brain trust culled from some of the most experienced executives in the field. Led by former Foxwoods CMO Robert Victoria, the team is stacked with Northeast gaming know-how.
A former Green party boss in Austria has retired from politics and become “responsibility manager” for the gaming company Novomatic. Eva Glawischnig-Piesczek says she will focus on environmental and legal issues.
The American Gaming Association last week announced that it had added six new members, including the Stars Group, the parent company of the formerly notorious PokerStars. In addition, the AGA announced a strategic alliance with BMM Testlabs.
Gaming Laboratories International held its 18th annual Regulators Roundtable, which drew 225 attendees including officials of state and tribal governments. GLI President James Maida (l.) gave the regulators a vision of the future as technology progresses.
A report from brokerage firm Telsey Advisory Group indicates that Scientific Gamex Corporation could seek an initial public offering for its interactive business.
Grand Vision Gaming has renewed a cross-licensing deal with Aristocrat Technologies under which Grand Vision offers premium Aristocrat titles to select video lottery locations.
South Korean casino operator Grand Korea Leisure Ltd. has signed a deal with financial technology firm Dragon Inc. to incorporate cryptocurrencies into GKL’s VIP gaming rooms.
Okada Manila in the Philippines’ Entertainment City has expanded its sports book offering though a new deal with platform provider FSB, Paddy Power and Jade Entertainment and Gaming Technologies.
