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Hard Rock Completes Payment Bond for Casino Resort in Catalonia

Niji Ng

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Photo credits: yandex.com
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Hard Rock International, a Florida-based gaming and hospitality company has completed the financial part of the deal with the Government of Catalonia to build and operate an integrated resort at the province.

Damià Calvet, head of the Catalan Department of Territory and Sustainability, said that Hard Rock completed its payment bond on Friday, which is within the previously set deadline.

Hard Rock’s payment bond is worth €10 million, out of which €3 million was required to deposit last year when it entered the competition for the construction of an integrated resort in the Tarragona province. The operator completed the bond payment by paying to remain €7 million on Friday.

Hard Rock now has three years to complete its major project. It is believed that the company will break ground on the complex before the summer of 2019. According to government estimates, the resort could generate 11,000 new jobs, both indirect and direct.

Commenting on the massive project, Mr. Calvet said that it would help Tarragona turn into a globally popular tourism destination. He further explained that despite previous reports that the plan had been scrapped, that had never happened. The official went on to say that they have been working quietly to make sure that the project will help Tarragona and Catalonia, as a whole, to improve its economy and tourism industry while new jobs are created.

It was late last month when the Government of Catalonia formally approved the €2-billion integrated resort scheme. The bidding process for the resort was opened last summer and by the time it closed, Hard Rock remained the only bidder for the development of a mixed-use property with hotels, attractions, and a casino. The Florida-based company was eventually given the green light to proceed with that plan after multiple delays.

The project was previously referred to as BCN World, but it was announced in May that the resort will actually be called Hard Rock Entertainment World. It will be located in the Vila-seca and Salou region in the Tarragona province.

According to details previously provided by Hard Rock, its Catalan resort will feature two hotels with a total capacity of 1100 rooms, a 75-store retail centre, a number of dining facilities, bars, and entertainment venues, and a 10,000-square-meter casino. The company has said that it plans to spend around €2 billion on the mega scheme. It is yet to be announced when the integrated resort will be completed, but as mentioned above, that should happen within a three-year period, under the company’s contract with the Government of Catalonia.

The construction of the Tarragona property comes as another indication that major hotel and casino companies might finally be ready to explore and expand their integrated resort operations into Europe. Properties of this type have already become the standard in Las Vegas and multiple Asian countries, but they are yet to be introduced properly to the European gaming and hospitality scene.

Hong Kong’s Melco Resorts & Entertainment will probably open Europe’s first proper integrated resort. The company broke ground Friday on a €550-million development in the Republic of Cyprus. The integrated resort is slated to launch in 2021 and to feature a hotel, a casino, MICE facilities, and a number of attractions. 

 

Source: CasinoNewsDaily

Niji has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. Besides reporting industry headlines from all around the globe, Niji is also head of the content management team at Impressions Content Management, based in Kerala, India, which offers writing and editing services to clients around the world.

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Gambling in the USA

Vegas Golden Knights signs deal with William Hill

Niji Ng

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Vegas Golden Knights signs deal with William Hill
Photo Source: ingingitinmotown.com - Photo by Ethan Miller/Getty Images
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World’s leading betting company William Hill and the Las Vegas-based National Hockey League (NHL) franchisee Golden Knights have signed a multiyear partnership. The deal will include in-arena signage and updated league-wide odds displayed on the video board during intermissions at T-Mobile Arena in Las Vegas.

This partnership is the first of its kind in North America between a bookmaker and an NHL franchise.

Terms of the agreement were not disclosed.

“We are always looking for innovative ways to engage different segments of our fan base and provide a unique fan experience,” Golden Knights president Kerry Bubolz said in a release announcing the deal. “This partnership between a major professional team and a sports book operator is a historic, landmark agreement and we are delighted to be leading the way with William Hill in this space.”

The partnership between sports franchises and bookmakers could be the first of many as more states elect to offer legal sports betting. The NBA recently completed a deal with MGM Resorts, making the company the “official gaming partner of the NBA.”

“We could not be more excited to partner with the Golden Knights,” William Hill CEO Joe Asher said in the release. “William Hill is the leader in the U.S sports betting market and we are proud of the fact that this is the first sponsorship agreement between a sports book and an NHL team in the country.”

Asher said at a recent gaming conference that the U.S. branch of William Hill has been fielding frequent requests from sports franchises asking about partnerships.

The NHL, along with other major U.S. professional leagues, has been an ardent opponent of sports betting, with commissioner Gary Bettman often expressing concerns about how legalised betting would impact the atmosphere in the arenas.

 

Source: ESPN

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Russia arrests over 100 people for running illegal casinos

Niji Ng

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Russia arrests over 100 people for running illegal casinos
Photo Credit: RIA Novosti
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The Investigative Committee of the Russian Federation (SKR), together with the K Department of the FSB and the police, has busted a casino ring that has been engaged in illegal gambling business in Moscow.

“Investigators came to the conclusion that since May 2016 members of this group have been operating casinos outside the specialised gambling zones and used the signs of legal bookmaker office Panorama, which operates under the brands Green Bet, UnionBet and WinLin.”

The police stopped the activity of 15 gaming clubs and casinos, and also conducted more than 80 searches in offices. More than 100 people were arrested, of which 47 are already planned to be charged and imprisoned.

The criminal group had a strict conspiracy, where ordinary members did not know the leaders. The communication was carried out via modern IP telephony and messengers. The roles of the members within the group were clearly distributed, there was a strict hierarchy. Police has also arrested the leader of the criminal community.

According to RBC, the illegal gambling network generated hundreds of millions of rubles every month. Leaders of the group own real estate in prestigious suburbs of Moscow and premium cars. A criminal case was initiated against them in accordance with the Criminal Code of the Russian Federation

 

Source: E-PLAY Online

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Court cancels Pennsylvania’s ban on gambling donations

Niji Ng

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Court cancels Pennsylvania’s ban on gambling donations
Photo Credit: AP
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A federal judge has annulled legislation in Pennsylvania law that banned casino owners and persons who owns stakes in the gambling industry from contributing to political campaigns in the state. The court observed that the legislation is unconstitutional.

In her 31-page opinion, U.S. District Judge Sylvia Rambo said the provision violates constitutional protections over political association. However, Rambo did not close the door on lawmakers reviving a similar ban that is narrower in scope and tailored to the purpose of fighting corruption.

“The court holds only that the ban in its current form goes much further than necessary to achieve its stated purpose of eliminating corruption and the appearance of corruption,” Rambo wrote.

The U.S. Supreme Court, Rambo wrote, has ruled that preventing corruption, or the appearance of corruption, is the only sufficient reason to justify restrictions on political contributions.

So the Legislature, she wrote, could more strictly define who is subject to the ban by limiting its reach to those with close connections to a casino or imposing a limit on the amount of cash contributions. Right now, law acts as a wholesale ban on contributions of any amount, even $1, by people with “even an attenuated connection” to the gambling industry, far exceeding the necessary scope of such a prohibition, Rambo wrote.

The ban applied to people who own a stake in a casino, a slot-machine manufacturer or a casino vendor, as well as non-owner executives and important employees.

The prohibition has largely stood in Pennsylvania since the state legalised commercial casinos in 2004, touted as a major bulwark against gambling industry influence. A spokesman for the state attorney general’s office directed questions to the Pennsylvania Gaming Control Board. A spokesman at the board did not respond to a request for comment.

The lawsuit was filed last year by Pasquale Deon, who owns a 2.5 per cent stake in Sands Casino in Bethlehem, according to gaming board records, and Maggie Hardy Magerko, whose family owns the Nemacolin Woodlands Resort in southwestern Pennsylvania that is home to Lady Luck Casino.

With 12 casinos operating and a 13th under construction, Pennsylvania is the nation’s No. 2 state for commercial casino gross revenue, second to Nevada. At $1.4 billion in the most recent fiscal year, Pennsylvania rakes in more tax revenue from casino gambling than any other state, according to the American Gaming Association’s figures.

 

Source: AP

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