Vol-22-No-3-January-22-2024 Archives

Three Companies Reportedly Vying for Windsor, Ontario License

Caesars Windsor (l.), a prominent casino in Windsor, Ontario, is the subject of a fierce competition among three major gambling companies for the license to operate slot machines and blackjack tables.

Newspapers Provide Cheap but Valuable Lesson for Gaming’s Stakeholders

Newspapers are an unfortunate example of how analog businesses struggle in a digital world, but the best among them have managed to adapt and thrive. The same will be true for the gaming industry and its continued evolution toward iGaming, argues industry veteran (and former newspaper journalist) Michael Pollock (l.).

Genting Malaysia Doubles Down on Empire Resorts

Genting Malaysia has announced it will invest $100 million in Empire Resorts, its money-losing subsidiary in New York. The funds will pay off some debt and provide working capital, but shareholders may disapprove.

Summit Ascent Board Members Quit to Protest Tigre Sale

Five directors of Hong Kong-listed Summit Ascent Holdings have resigned due to a plan to sell the company’s stake in Tigre de Cristal (l.) in Russia’s Primorye region. A Russian company will pay $116 million for the stake.

WEEKLY FEATURE: Federal GRIT Act would Fund Study, Treatment for Problem Gambling

Joint U.S. House/Senate legislation would create funding for research, prevention and treatment of gambling addiction and problem gambling.

NY Governor Excludes iGaming from Budget

New York Governor Kathy Hochul’s (l.) executive budget for 2025 excludes any projected revenue from online casino gaming, dealing a blow to iGaming legalization efforts.

Virginia Lawmakers Consider Petersburg

With Richmond out of consideration, state Senators Louise Lucas and Lashrecse Aird introduced a bill amending requirements for a casino host city to suit Petersburg and allow a voter referendum there this year.

Macau Horse Racing Nears the Finish Line

The Macau government has called a halt to horse racing in the Chinese SAR, agreeing with the Macau Jockey Club to terminate its contract. The deal, to take effect April 1, signals the end of a 40-year-old industry.

Victoria: Tabcorp Barred from Taking Cash at Unsupervised Machines

Victorian regulators have issued a directive that will bar gamblers from using cash at unsupervised Tabcorp gaming machines across the state—instead, credit vouchers will be issued to players with valid ID.

Sri Lanka Looks to Create Formal Gaming Regulator by Hiking Fees

Sri Lanka’s government has a goal of establishing a formal gaming regulator and announced it will increase casino gaming licenses in an effort to meet that objective.

Georgia Sports Betting Bill Could be Doomed by Parlay, Prop Tax

Georgia has not made much progress in passing sports betting. This year’s problem is the introduction of a higher tax on parlays and prop bets, a first in the U.S.

Missouri Sports Betting Gets Support from Pro Teams, Sportsbooks

After two years of stalled efforts to get sports betting legalized in Missouri, a coalition of professional sports franchises and sportsbooks have launched a petition to get the matter on the ballot.

FANTINI’S FINANCE: Not This Time, Brutus

Caesars recently pre-announced that its fourth-quarter results would not match forecasts. However, instead of a death knell, the news actually caused the company’s stock to jump—funny how things work out.

California Tribal Casino Advances After 2-Decade Delay

The North Fork Rancheria of Mono Indians’ long-delayed Madera casino can move ahead following approval by the National Indian Gaming Commission of a 7-year management agreement between the tribe and Station Casinos.

GGB PODCAST: Tom O’Brien, President, Americas and EMEA, Aristocrat

This week, the GGB Podcast sits down with Tom O’Brien (l.), the president of the Americas and EMEA for Aristocrat, about how the company has continued to be the market leader in innovations.

GGB Podcast sponsored by Pavilion Payments.

Philippine Regulator Forecasts Record GGR for 2024

The head of the Philippine Amusement and Gaming Corp. predicts that gross gaming revenue for 2024 will reach an all-time high of $6 billion, with land-based casinos generating the lion’s share.

LVS May Invest $4 Billion in Marina Bay Sands

The Las Vegas Sands Corp. may increase the budget to expand its Marina Bay Sands (l.) integrated resort in Singapore. According to Deutsche Bank, the total may come to $4 billion, up almost $1 billion from the original budget.

Macau Court Cuts Chan Prison Time

It was good news and bad news for Levo Chan (l.), former Macau junket boss. A Macau court reduced his prison sentence by a year and waived damages to city casino operators. But it also levied millions in new penalties.

In 2023, Macau Casinos Saw Spike in Suspicious Transactions

Macau’s gaming industry posted a sharp increase in suspicious transactions last year. Operators reported more than 3,400 incidents, compared to fewer than 1,200 in 2022.

Brazil Seeks to Establish Sports Betting Secretariat

Sports betting is one step closer to regulation in Brazil with the government’s goal of establishing a National Gambling and Betting Secretariat by the end of this month.

Tennis Official Receives 16-Year Ban for Gambling-Related Offenses

A Bulgarian tennis official, Stefan Milanov, was given a 16-year ban by the International Tennis Integrity Agency (ITIA) for several corruption offenses related to the sport.

Virginia Bill Seeks to Cut Bet Ban on In-State College Teams

For Virginia state Senator Schuyler VanValkenburg, the ban on wagers for in-state college games has run its course. He proposed a bill to ban the ban. Whether he succeeds is another matter in this touchy subject.

Nevada’s Titus, AGA Say No To Excise Tax For Problem Gaming.

A Senator and Congresswoman introduced a bill to send half of the excise tax to treat problem gaming. Sounds like a great use of a tax people want to do away with. But Nevada Rep. Dina Titus (l.) and the AGA say get rid of the tax instead.

Circa Sports Ran Record Football Campaign With $15.2 Million

As part of its sports betting program, Circa Sports completed its annual pro football competition. The two segments broke a record with a $15.2 million distribution.

New Jersey Gaming Sets Win Record in 2023

New Jersey’s casino, sports betting and online gaming operators won nearly $5.8 billion from players in 2023, setting a new record for gaming revenue.

Alabama House GOP Caucus Reviews Gambling Bill

Alabama state Rep. Andy Whitt (l.), who leads a lawmakers’ study group on gambling, is confident that a bill will surface this year. He said the comprehensive legislation would include a lottery, casinos, sports betting and a regulatory commission.

Midtown Residents Vote Down NY Mayor’s Fast-Track Casino Zoning

A community group in New York City soundly rejected a proposal from Mayor Eric Adams (l.) to fast-track zoning for the proposed Freedom Plaza casino project in Midtown Manhattan.

Report: MGM Purchased Plot Between Cosmo, Bellagio Last Year

MGM Resorts reportedly bought a small plot of land in between the Bellagio and Cosmopolitan for $54 million last spring.

Judge Approves Missouri Casino Workers’ Settlement

A Missouri District Court Judge approved Missouri casino workers’ $5.5 million class action settlement against Penn National Gaming and two of its St. Louis casinos. Workers claimed they lost pay due to unlawful employment practices.

NJ Lawmakers Weigh Racetrack Slots, Ad Restrictions

Two gambling-related bills have been introduced in the New Jersey Senate—one would legalize slots at racetracks, and the other would place certain restrictions on the advertising of gambling.

Three Gambling Bills Get Support from Maine Tribal Leaders

Three bills that could find their way to the Maine state Legislature would expand gambling and restore the sovereignty of tribes in the state, but it faces opposition from the two established casinos.

CA Bill Threat To Tribal Brand Of Mobile Sports Betting

If you heard this before, you’re gonna hear it again from the larger California tribes. The attempt to garner enough support to get a sports betting bill on the ballot has no friends among the tribes.

New Mexico Supreme Court Supports Tribal Sovereignty

The New Mexico Supreme Court ruled tribal courts have sovereignty over state courts in some personal injury and property damage cases at tribal casinos. The original case dated back to 2016 and involved a delivery person’s claim he was injured at a Pojoaque Pueblo casino.

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