Caesars’ stock soared on the news that Tilman Fertitta (l.) was pitching the casino giant on a reverse merger that values it at $13 a share. Caesars would acquire the billionaire’s restaurants and Golden Nugget casinos in a deal that would see him emerge as chairman, CEO and largest shareholder in the combined company. Analysts are generally positive about the combination, but the Caesars properties in Atlantic City could be a stumbling block.
With the approval of 14 state regulators and the Federal Trade Commission, Penn National Gaming finalized its $2.8 billion acquisition of 12 Pinnacle Entertainment casinos. Boyd Gaming acquired four Pinnacle casinos to avoid federal trust issues. Penn National now operates 40 casinos and racetracks in 18 states and employs more than 30,000 people. Only Penn’s purchase of Margaritaville (l.) in Bossier City, Louisiana is still outstanding.
Sega Sammy Holdings is asserting its parity with the long list of global gaming operators looking to break into Japan. The pachinko and resort company may have an advantage as a domestic corporate group. President and COO Haruki Satomi (l.) says the company’s Japanese heritage makes it a perfect partner.
Singer and dancing legend of the 1950s and beyond, Chubby Checker (l.) was honored October 10 as Casino Entertainer of the Year. The award was presented at the Global Gaming Expo’s sixth annual Casino Entertainment Awards.
Preparing for the 2019 legislative session, Illinois state Rep. Bob Rita held a second hearing on gambling expansion, focusing on sports betting. Legislators heard from professional sports league management and players regarding integrity fees. A mobile wagering option to brick-and-mortar casino sports books also was discussed. Longtime gaming proponent Rep. Lou Lang (l.) wants to “do it right.”
Sports betting and casinos will be on the menu for Virginia’s lawmakers next year. That’s the intention of a bevy of lobbyists who have been hired by companies such as Caesars and MGM, plus slot machine manufacturers. Governor Ralph Northam (l.) hasn’t made a decision on gaming.
Are the lumbering gaming behemoths a thing of the past? Owners who got their start in the riverboat environment are coming to dominate the gaming industry. And even a latecomer like Tilman Fertitta is having a huge impact. What does this say about the future of casinos?
This week, the GGB Podcast sits down with Jay Sevigny, president of Aristocrat subsidiary VGT; and Matt Wilson, Aristocrat’s managing director for the Americas, about the remarkable success of the company, particularly its North American operations over the past few years.
Illegal workers. An FBI investigation. Construction delays. Billions in uncollected debt. Toppling share values. These are just some of the problems plaguing Imperial Pacific International on the island of Saipan.
The operator of the Tigre de Cristal resort (l.) near the Russian port city of Vladivostok will add apartments and villas as part of its Phase II development. Tigre de Cristal is the only integrated resort in the Primorye.
The resort island of Boracay in the Philippines has reopened after a six-month cleanup, but the government insists it will never be open to casinos. Boracay will now operate under stringent regulations and a visitor cap.
Hong Kong-listed gaming investor Amax International Holdings has signed a deal with Cheung Shing Global Travel Entertainment Ltd. to provide technical services for a new casino in Sihanoukville, Cambodia.
The Singapore Tourism Board will put $1 million into the so-called Fast Forward Fund, which will support multimedia content to promote the jurisdiction.
The Chinese government’s crackdown on corruption and lingering investor concerns about a trade dispute with the United States have caused the stocks of Macau’s top six casinos to drop 40 percent since June.
An advisor to Taiwan’s travel agent association says the country would benefit from an amusement or theme park to boost tourism, and should legalize casinos for the same reason.
Paddy Power Betfair has been fined £2.2 million by the UK Gambling Commission for social responsibility and money laundering failures. The commission found the company failed to protect its customers and also failed to stop stolen money from being gambled. It is the fourth penalty package of more than £1m imposed by the Gambling Commission this year.
Advertising for licensed gambling will be significantly restricted in Spain's 2019 budget. The "socially progressive budget" will "treat betting like tobacco" with stronger guidelines aimed at protecting minors and problem gamblers. The new rules limit ads aired during TV and radio sports broadcasts and ban using celebrities or athletes to promote gambling.
Miguel Angel Yunes Linares (l.), the governor of Veracruz, Mexico, has refused to allow TV Azteca to locate a new casino in Yanga municipality, one of the poorest areas in the state. He claims the area is too high crime for such a facility.
Bermuda’s gaming regulatory body, the Bermuda Casino Gaming Commission, has released the first of what will be two “tranches” of casino regulations, says Tourism Minister Jamahl Simmons (l.). They include protections for consumers and vulnerable players. Meanwhile, a year has passed since the resignation of former executive director Richard Schuetz and the position remains unfilled.
The huge amount of money laundering using British Columbia casinos had more than just the effect of allowing Chinese nationals to transfer funds illegally. It may also have helped create an opioid epidemic in BC and drive up the price of homes into unaffordable levels. BC Attorney General David Eby (l.) blames lax enforcement by the former Liberal administration.
Australia’s ACT Gambling and Racing Commission reported that breaches of gambling laws in the country have fallen by 88 percent since 2014. The watchdog group said a focus on education has contributed to the sharp decline. The commission identified just 13 breaches of gambling law in the last year.
The combination of lottery, internet and casino gambling has produced a record haul for Ontario in 2017-18. The C$2.5 billion was up almost 8 percent from the previous year.
One of the first acts of the new Ontario premier, Doug Ford (l.), could be to bring back slot machines to racetracks of the province. One of these is Niagara’s Fort Erie Race Track.
Sweden has received at least 55 applications for online casino and sports betting licenses under a reworking of its gambling regulations. Previously, only one betting site, Svenska Spel, was legally permitted to operate in Sweden. However, starting in January and gambling site with a license will be able to legally take bets in Sweden.
On November 6, voters in every Louisiana parish will determine if they want to allow daily fantasy sports, meaning DFS could be legal in various parts of the state. If just one parish approves DFS, a new bill must be introduced in the legislature to determine tax rates, licensing fees and geofencing restrictions.
PAGCOR, the Philippines’ gambling regulator, has announced that it will give UK-based tech supplier Playtech a practical monopoly as a provider of random number generated casino games to the country’s online gambling licensees. The regulator named Montford Inc. as gaming software provider for Philippine licensees. The company distributes PlayTech games.
NetEnt has entered into an online games partnership with Churchill Downs in a move which should increase its presence in the New Jersey online market. Churchill Downs has targeted entering the state’s online gambling and sports betting market by early next year. NetEnt said the deal will be an important contributor to growing Churchill Downs online casino offerings.
Sports betting has not been a major issue among gubernatorial candidates in Western states. But several incumbents and their challengers have stated positions on sports betting—or not. Most candidates mildly support legal sports betting or have not taken a stand. Texas Governor Greg Abbott (l.), however, has said he is adamantly opposed to any gaming expansion during his re-election campaign.
In a follow up to a previous study by Nielsen Sports, the American Gaming Association last week said Major League Baseball (MLB) and the National Basketball Association (NBA) would accrue an addition $1.7 billion due to legal sports betting. Together, the four major sports leagues will clear more than $4 billion annually.
Lawmakers for Washington D.C. held a public hearing on a potential sports betting bill and hope to move quickly on legislations. The district’s city council is considering a bill to allow sports betting, though it is unclear what type of company’s would be allowed to open sports books—including the possibility it would be done through the district’s lottery. Supporters hope to have the bill voted on before the end of the year.
Nevada casino companies asked for a change in state regulations that would allow gamblers to register for online sports betting accounts completely online at a meeting of the Nevada Gaming Control Board. Current regulations say patrons must visit the land-based sports book and sign up for accounts. The board did not act on the request.
Wynn Resorts announced a partnership with European operator BetBull Ltd. for sports betting services throughout the growing U.S. market. As part of the deal, Wynn Resorts will acquire a 22.5 percent stake in BetBull. A price for the acquisition was not disclosed.
In anticipation of introducing sports betting measures in the 2019 session of the Kentucky state legislature, Rep. Adam Koenig’s (l.) Interim Joint Committee on Licensing, Occupations and Administrative Regulations recently held its second hearing with a variety of gaming industry officials. Tax rates, mobile betting and integrity fees were among the significant topics discussed.
Probes of Wynn Resorts Ltd., and its former CEO Steve Wynn (l.), conducted by investigators of Nevada and Massachusetts’s gaming regulatory agencies are nearing their end. The investigations will be given to commissioners, who will decide whether to punish the company for the sins of its former leader.
The principal creditor of the shuttered Las Vegas casino hotel will offer it to the highest bidder later this month. Reports say the off-Strip property, which failed as a gaming attraction, could be converted to condos or non-gaming meetings space or possibly an e-sports venue.
Associated Industries of Florida released a poll showing 70 percent of likely voters support Amendment 3, which would give voters, not lawmakers, the “exclusive right to decide whether to authorize casino gambling” in the state. Disney Worldwide Services and the Seminole Tribe of Florida, owners of Hard Rock Hollywood (l.), gave $36.75 million to support the November 6 ballot issue.
Idaho’s Governor C.L. “Butch” Otter has come out in favor of Prop. 1. The controversial proposition is opposed by many political groups and the state’s gaming tribes. It would give racetracks the right to have hundreds of “historical horse racing” machines, which look too much like slot machines for some peoples’ taste.
Various cities that are impacted by large casinos going up nearby or next door are collected money from mitigation funds handed out by the Massachusetts Gaming Commission. One of these is Melrose, which is expecting some traffic impacts from the Encore Boston Harbor (l.) in Everett.
A new cargo and freight hub in Gary, Indiana could prompt the move of one of Indiana’s casino boats, the Majestic Star Casino (l.). This is something that could lead to the Star increasing its revenues by nearly a third, according to a study.
Bob Stupak once envisioned a “Titanic”-themed casino at the site of the Thunderbird, an aging Downtown Las Vegas hotel. The new owners have invested $5 million into a vision considerably less grandiose.
Mississippi gaming commissioners will hold a hearing on November 15 in Long Beach, where developer Jim Parrish hopes to build a 40,000 square foot casino. State gaming law also requires the site be within 800 feet of the shoreline and that the property include a 300-room hotel and fine dining restaurant.
The Mount Airy Casino Resort (l.) has submitted its plan for a mini-casino and entertainment complex on 100 acres of land in Big Beaver, Pennsylvania, on the Ohio border, far from the Mount Airy facility.
Eldorado Resorts, the new owners of Grand Victoria Casino in Elgin since August, changed the hours at the Indulge Show Kitchen Buffet and Prime BurgerHouse. The changes were made following a competitive analysis and to align the restaurants' hours with the property's day-to-day business levels.
Votes cast November 6 on a proposed constitutional amendment to expand casino gambling in Arkansas will be counted, following the state Supreme Court's dismissal of two lawsuits claiming the ballot issue's title and wording are misleading and ambiguous. The ruling is a victory for the political group Driving Arkansas Forward, organizer of the ballot initiative.
Borgata Atlantic City has filed a motion with the U.S. District Court for the District of New Jersey to allow it to seek assets of pro gambler Phil Ivey (l.) located in Nevada. Ivey lost a lawsuit by the casino charging that he illegally used “edge sorting” techniques to win about $10 million from the casino playing baccarat. Ivey has been ordered to repay his winnings, though the case is still being appealed. B
Opponents of the Mashpee Wampanoag Tribe don’t want the tribe and Chairman Cedric Cromwell (l.) to be able to continue to put off the appeal of the federal ruling that forced the Department of the Interior to withdraw the land the tribe owns from federal trust status. The opponents want the tribe to either withdraw its appeal or agree to move forward with briefs in the next 60 days.
New Mexico has joined five other states in offering sports betting. However, it is a tribal casino, Santa Ana Star Casino (l.), rather than the state, that has started to take the bets. It has said it won’t allow betting on New Mexico college games.
Connecticut’s gaming tribes are trying to find a way to move forward on their third, satellite casino (l.) in East Windsor. While one lawsuit, against the Department of the Interior, has been dismissed, the tribe has filed a second lawsuit, using a different approach to try to get the Department to allow it to begin work on the casino.
It has been 30 years since Congress passed the Indian Gaming Regulatory Acts. One of the actors created by that legislation, the National Indian Gaming Commission, celebrated the anniversary last week and reflect on what IGRA has wrought. NIGC Chairman Jonodev Chaudhuri (l.) said there have been “unarguable benefits” to tribal government gaming.
George Kliavkoff is the new president of entertainment and sports at MGM Resorts International. He will be responsible for finance, strategy, booking, marketing, sponsorships and ticketing of MGM’s more than 30 entertainment venues.
Westgate Resorts has promoted long-time Westgate Las Vegas executive Cami Christensen to head the off-Strip casino hotel. Christensen’s tenure with the property dates back to the Las Vegas Hilton days, and she’s since held just about every one of its managerial positions.
The Sherwood Valley Band of Pomo Indians Tribal Council last week announced that Michael Broderick has been named GM of the tribe’s Sherwood Valley casino in Willets, California.
Sands China has announced the resignation of Wang Sing, an independent non-executive director of the gaming company effective October 11. Wang joined the group in July 2017.
The Stars Group Inc. has announced its executive management appointments to its recently acquired UK business, Sky Betting & Gaming. That acquisition has been cleared by the UK Competition & Markets Authority. The appointments are aimed at executing the company’s integration plans, including the delivery of expected cost synergies, the group said.
According to reports, New Jersey Governor Phil Murphy has appointed U.S. Sen. Cory Booker’s former chief of staff to the Casino Reinvestment Development Authority. Modia “Mo” Butler, 45, will serve a four-year term on the CRDA Board of Directors.
Everi Holdings held the finals for its sixth annual TournEvent of Champions the national contest conducted on its TournEvent slot tournament system, awarding a $1 million prize.
JCJ Architecture announced its expansion into the Las Vegas market, with plans to establish its ninth office, to be headed by Design Principal and Managing Director Robert Gdowski, AIA.
Aristocrat is looking to expand the footprint of its Oasis 360 casino management system to casinos across Asia, on the heels of an agreement to supply the system to Boyd casinos in the U.S.
Deutsche Bank analysts have issued a “buy” recommendation on New York-listed IGT stock and a target price of US$35 a share after studying positive customer feedback.
The European Gaming Association has given its full support to the Code of Conduct for industry stakeholders published by Clarion Gaming for all of its trade-show events.
NRT Technology and Sightline Payments, currently involved in the process of a merger, presented a joint booth display at the recent Global Gaming Expo.
