In Oklahoma, the Chickasaw Nation opened its West Bay Casino and Resort (l.) in Kingston, and the Iowa Tribe of Oklahoma announced a partnership with Caesars Entertainment to develop a Harrah’s casino resort between Tulsa and Oklahoma City.
In the U.S., iGaming is largely hidden under the immense influence of sports betting. This is partly due to advertising, and also the fact that sports betting is much more widespread in terms of legalization. But that dynamic is slowly unraveling, according to a panel at the recent SBC Summit North America (Photo courtesy of CDC Gaming Reports).
It may seem hard to believe, but five years have passed since PASPA was struck down, paving the way for rapid sports betting expansion across the U.S. There've been some good times and some bad times—but you can’t deny it’s been a heck of a ride.
For better or worse, the U.S. has a tendency to do things big—sports betting is no different. In the five years since states were given the right to vote on legalization, the sector has exploded. But in terms of product, the market still has a long way to go, according to a recent panel at SBC Summit North America (Photo courtesy of CDC Gaming Reports).
In a shocking turn of events, the Oakland A’s have pulled out of its previously announced deal with Red Rock Resorts and have decided to instead partner with Bally’s Corp. to build a new $1.5 billion, 30,000-seat ballpark on the site of the Tropicana Las Vegas (l.).
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In the latest college betting scandal, Iowa and Iowa State universities have been notified by various organizations that their student athletes may not have acted on the straight and narrow. Investigations will follow.
The 149th running of the Kentucky Derby set records for betting, and wagering was up as a whole for the week leading up to the famed Triple Crown race.
Bally’s said it may offer shares in its $1.7 billion Chicago casino (l.) to residents who “satisfy the qualification agreements.” No details have been released about the plan. Meanwhile, the company announced major management changes.
With mass gaming on a roll in Macau, Morgan Stanley analysts are projecting the segment could almost equal revenues for 2019. April numbers were “circa 100 percent” of pre-pandemic levels, they say.
Brazil’s National Congress is preparing to begin work on the provisional measure (MP) that would create the legal infrastructure for a sports betting market in Brazil, which is one of the largest undeveloped markets in the world. The goal is to legalize both retail and online sportsbooks.
Could a government paper generated in London affect betting policy in the United States and Canada? Yes, say advocates of reform and responsible gambling. They are hoping that some recommendations from the U.K.’s white paper on gambling will influence policy on this side of the Atlantic.
North Carolina lawmakers have gone with a unique tax rate of 14 percent. And a high licensing fee of $1 million. Plus, operators can deduct promotion costs at least for a few years.
The new NBA players union agreement follows along the lines of other pro sports in moving towards a closer relationship with sportsbook operators. Players can invest in and endorse operators now.
Indian gaming has returned to and surpassed pre-pandemic levels. The latest Nationwide Impacts of Indian Gaming Report says the industry reached $48.4 billion in gross revenue in 2022. That’s a 10 percent increase over 2021. It comes from more than 500 casinos in 29 states.
By and large, the gaming industry has done a good job of surviving the economic pitfalls of Covid and just about everything else the last two-plus years have thrown at it. But an overall economic recession may just be unavoidable—now we wait to see just how much pain it may inflict.
GLOBAL GAMING BUSINESS PODCAST: Andrew Burke, CEO, and Mike Brennan, Chief Product Officer, of Bluberi
Andrew Burke, Chief Executive Officer, and Mike Brennan, Chief Product Officer of Bluberi sit down with Frank Legato, Editor for Global Gaming Business.
Gaming operators in Macau will be fined if they run afoul of a proposed new amendment to the gaming law. If passed, the law would prohibit management and sub-concessionaires from extending credit to gamblers.
The Macau government will not waive a 5 percent tax on commissions paid by casinos to junkets. An industry trade group had appealed for relief, saying junkets in the city are already facing enough pressures.
Toronto’s Casino Woodbine (l.) is mired in a nasty strike with its workers and responded to the latest rejection of their contract offer by locking out the employees.
Bahamians who receive welfare or social security payments may not be allowed to gamble at the island nation’s hotel casinos. Officials of the Bahamas Gaming Board May 3 announced they are considering such a move—among many other changes to local gaming regulations.
The Supreme Court of the Philippines has upheld its 2022 ruling that a 5 percent franchise tax imposed on offshore gaming operations was unconstitutional. Those taxes must now be refunded.
Caesars Entertainment has revealed it will launch a stand-alone iCasino app in the third quarter, after citing rising digital revenues as new states launch iGaming.
Caesars Sportsbook became the first company to partner with Maine’s Native American tribes and will have a presence in the state to offer sports wagering.
With time running out in the Missouri Legislature to get a sports betting bill passed, St. Louis Cardinals President Bill DeWitt (l.) said he may organize a petition to get it on the November 2024 ballot.
Minnesota is trying to get sports betting legalized by the end of the legislative session on May 22 but the state’s two horse racing tracks are seeking more money.
New York jumped out of the online sports betting gate in January 2022. While the pace couldn’t keep up, milestones are just around the corner, including $1 billion in state tax revenue.
Ohio is still relatively young in the sports betting market. But the state has become a touchstone on getting tough when tough is called for and easing up when…you get the picture.
Microbets are becoming a huge hit with bettors, and industry professionals said at the recent SBC Summit North America that the growth will explode in the next few years.
Genting Malaysia will use $1 billion from the sale of Miami assets within 48 months from the completion of the deal, according to a filing. The receipts are likely earmarked for a planned expansion in New York City.
A proposed class-action lawsuit from Atlantic City casino-hotel customers alleges that the city’s operators colluded to artificially boost room rates.
An Evanston, Illinois city council committee voted 3-2 to change its gambling laws, passed in 1957, to allow video gambling terminals in bars and restaurants.
A bill to allow casinos in Colorado to extend credit to players was saved from the grave on May 6. The Colorado House originally voted 34-31 to kill the bill. Then two lawmakers changed their mind and the vote was taken again. This mulligan has sparked outrage among opponents.
Red Rock Resorts has indicated that the costs for its Durango Station (l.) project have increased by approximately $30 million. Company officials said the added expenses are attributable to an expansion of the gaming floor as well as rising construction costs.
The Las Vegas Convention and Visitors Authority recently held a groundbreaking ceremony to kick off the $600 million renovation of the Las Vegas Convention Center (l.).
Five years since the U.S. Supreme Court lifted the federal ban against sports betting, the industry has expanded like a wildfire. Now some states want to throw a little cold water on the industry, at least by educating young people about the risks of gambling.
A junket operator, BigBang Entertainment LLC, is suing Chinese-based Imperial Pacific International (IPI.) The plaintiff alleges that IPI kept funds that had been deposited at IPI’s Imperial Palace Saipan (l.) in the U.S. Commonwealth of Northern Mariana Islands (CNMI.)
Rivers Casino (l.) in Portsmouth, Virginia was fined $275,000 by the Virginia Lottery for alleged violations including underage and voluntarily excluded individuals, slot-machine licensing requirements and unauthorized games.
The Catskill off-track betting corporation, recently threatened with closure by New York Governor Kathy Hochul (l.), will be able to funnel money earmarked for capital expenses to continue operating.
After the Department of the Interior rejected its application for federal recognition in February, the Grand River Bands of Ottawa Indians in Western Michigan have been gathering additional documentation to prove it’s a “distinct community.”
Bally’s Corporation has named Marcus Glover (l.), a veteran of gaming operations who served high-level executive positions at the Borgata and Harrah’s, as executive vice president and chief financial officer.
Bill Boyd (l.) has stepped down as executive chairman of Boyd Gaming, and will not retain a seat on the company’s board of directors.
Peter Arceo (l.), a 28-year gaming industry veteran, was named chief gaming officer by the San Manuel Band of Mission Indians, owners of the Yaamava’ Resort & Casino in Highland, California.
Rush Street Gaming has promoted veteran executive Eric Althaus (l.) from assistant general manager to general manager of Rivers Casino Philadelphia.
Stockholm-based Catena Media has picked Erik Edeen to be interim Chief Financial Officer. He will replace Peter Messner at a job he is intimately familiar with, having served in that position from 2019-2020. They will begin the handover May 22.
Mark Vanderwielen (l.) was named vice president of hotel operations at Hard Rock Hotel & Casino Atlantic City. Most recently he was general manager at Viceroy Hotel Group properties in San Francisco and also worked at Borgata Hotel Atlantic City.
Galaxy Gaming has launched the Galaxy Operating System, a next-generation game management system enabling progressive jackpot options, LED sensors and digital tracking.
Geolocation solution provider GeoComply has acquired compliance and licensing management company OneComply, allowing clients to complete the licensing process from start to finish.
The investment company Blackstone Group is looking at several options for the Spanish gaming company Cirsa. Blackstone acquired the company in 2018 and is considering an initial public offering to refinance its debts.
The Luxor’s HyperX Arena (l.) will retain its name after HyperX and Allied Esports agreed to extend their sponsorship of the 1,000-seat venue.
Eclipse Gaming was named the 2023 Large Supply Chain Pioneer of the Year at the recent Partnership Gwinnett Movers & Makers Awards.
Entain PLC has announced the formation of two new committees meant to increase the effectiveness of its board and the board’s engagement with employees.
Organizers of the Regulating the Game conference in Sydney, Australia were so pleased with the outcome they announced a second event that will take place in London in September.
Small Nuggets of News
Outrageous pronouncements, simple statements and words of wisdom.