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Gambling in the USA

Betfair US Signs Long-Term Agreements for Sports Betting in New Jersey and New York

George Miller

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Betfair US Signs Long-Term Agreements for Sports Betting in New Jersey and New York
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Agreements Cover Both Online/Mobile Sports Betting and Retail Sports Betting at the Legendary Meadowlands Sports Complex and Tioga Downs

 

Betfair US announced that it has reached long-term agreements for retail and online/mobile sports betting with Meadowlands Racetrack in New Jersey and Tioga Downs in New York.  Under the agreements, Betfair US will provide a full suite of cutting edge sports betting products to customers in New Jersey and New York pending legislative and regulatory authorization.

Betfair US is a subsidiary of Paddy Power Betfair plc, one of the largest publicly traded sports betting companies in the world with leading brands Paddy Power and Betfair in the United Kingdom and Europe, Sportsbet in Australia and TVG in the US.  Across its four major brands, Paddy Power Betfair has five million active customers and processed over $15 billion in sports wagers in 2017. The company recently announced that, subject to customary closing conditions and regulatory approvals, it is combining its US operations with leading daily fantasy sports company FanDuel.  This transaction is expected to complete in Q3 2018.

We could not be more excited to partner with Jeff Gural and his partners for sports betting in New Jersey and New York,” said Kip Levin, CEO of Betfair US. “Meadowlands Racetrack has the potential to be among the best, if not the best, sports betting venues in the US. Combining these premier facilities with the global sports betting prowess of Paddy Power Betfair is a great match and will enable us to bring an unparalleled sports betting experience to customers in the northeast.

Meadowlands Racetrack is on the grounds of the renowned Meadowlands Sports Complex in East Rutherford, New Jersey, which is located less than 10 miles from Times Square in the heart of Manhattan and in one of the most densely populated areas of the US.  Rebuilt by Chairman Jeff Gural and his partners in 2013, the facility is state-of-the-art with modern and luxurious amenities for racing and sports betting customers. Tioga Downs, located in Nichols, NY, recently opened one of New York’s four commercial casino facilities featuring a hotel, entertainment center and modern casino floor featuring slots, table games and horse racing.

Sports betting is a great opportunity for Meadowlands and Tioga Downs,” said Jeff Gural, Chairman of New Meadowlands Racetrack LLC and Tioga Downs LLC.  “We went through a diligent process and reviewed several options to provide customers with the best sports betting experience possible.  In the end, Betfair’s world leading products and experience proved the best choice.  We are eager to get started with our partners, with whom we have had a long relationship for racing with TVG, on this exciting venture.

 

Source: Betfair US

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Gambling in the USA

William Hill US seeks modifications in regulations

Niji Ng

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William Hill US seeks modifications in regulations
Photo Source: sbcnews.co.uk
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William Hill US has written a letter to the Nevada Gaming Control Board (NGCB) seeking modifications in current regulations so as to eliminate some technical glitches. This is after FanDuel paid out on an erroneous ticket that allowed the ticket holder to win US$82k in New Jersey.

It is learnt that William Hill US mainly asked the power for the Chair to use discretion in rescinding bets where an obvious error had occurred, such as wrong pricing. “This would address the situation that occurred recently in New Jersey where an operator issued a wager on a football game at a price that was obviously incorrect,” reads the letter.

Sylvia Tiscareno, general counsel of William Hill, testified during NGCB’s meeting this week and said that the request comes after several internal discussions. The panel at the meeting decided to consider the testimony before making a decision.

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Gambling in the USA

Golden Nugget Casinos seeks merger with Caesars Entertainment

Niji Ng

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Golden Nugget Casinos seeks merger with Caesars Entertainment
Photo Source: cnbc.com
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In an interesting new development, the Las Vegas-based Golden Nugget Casinos has sought possible merger with industry leader Caesars Entertainment. The billionaire owner of Golden Nugget, Tilman Fertitta has reportedly approached Caesars for discussing the possibilities of a merger.

Fertitta, who also owns Houston Rockets professional basketball team and restaurant and entertainment company Landry’s, has proposed a merger plan by which Caesars would be the acquirer, and Caesars shareholders, including private equity firms Apollo Global Management and TPG Global, would remain shareholders of the merged entity, it is learned.

The response from Caesars to the offer is not yet clear. At present, Caesars’ market capitalisation is estimated at $6.3 billion, while Fertitta’s net worth is estimated at $4.5 billion.

The sources cautioned that a deal is not certain and asked not to be identified because the matter is confidential. Caesars declined to comment, while representatives of Fertitta, TPG, Apollo and Jack did not respond to requests for comment.

Caesars, which rose from bankruptcy chaos last year, has been reportedly mulling over acquisitions since the resurrection.

 

Source: CNBC

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Gambling in the USA

Game Innovation and Value Drive Texas Lottery’s Six-Year Contract Extension with Scientific Games

George Miller

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Game Innovation and Value Drive Texas Lottery's Six-Year Contract Extension with Scientific Games
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Company’s Instant “Scratch” Games Continue Generating Funds for Education and Veterans’ Assistance in State of Texas

 

Scientific Games Corporation announced that the Texas Lottery extended the Company’s existing contract for instant “scratch” games six additional years through 2024. Scientific Games’ innovative instant products, including spotlight games, families of games, Scratch My Back® games offering play on both sides of the ticket, and new high-definition HD Games™, have proven popular with Texas Lottery players. In 2017, the Texas Lottery was the first of 16 U.S. lotteries to launch Scientific Games’ blockbuster WILLY WONKA GOLDEN TICKET™ multi-state linked instant game with winners from Texas attending the BILLION DOLLAR CHALLENGE™ event in Las Vegas in spring 2018.

“The Texas Lottery recognizes the continuous innovation that Scientific Games invests to create very marketable games that are not only enjoyed by our players, but help us make important contributions to education and veterans’ assistance in our state,” said Texas Lottery Executive Director Gary Grief. “Scientific Games is a trusted business partner, and we look forward to six more years of ‘scratch’ game entertainment that has been a vital part of the Texas Lottery’s growth over many years.”

Scientific Games, a U.S.-based company, has provided instant games to the Texas Lottery since the Lottery’s inception 26 years ago. With a total contribution of $1.450 billion to education and veterans’ assistance in the state in fiscal year 2018, the Texas Lottery has generated more than $1 billionin revenue for Texas for 15 consecutive years and has experienced record sales for eight straight years.

“Scientific Games is honored to continue our longtime instant games partnership with the Texas Lottery,” said John Schulz, Senior VP Instant Products, Lottery for Scientific Games. “Led by an account team that is highly experienced with the Texas Lottery’s unique business and revenue requirements, our game designers are already innovating more value-added products that can help the Lottery achieve its financial goals in the coming years.”

With a total of nine instant game presses in five manufacturing facilities on four continents, Scientific Games supplies products that generate more than 70 percent of U.S. instant game retail sales. The Company launched the world’s first secure instant lottery game in 1974 and currently provides games, technology and services to more than 150 lotteries globally.

WILLY WONKA & THE CHOCOLATE FACTORY and all related characters and elements © and ™ Warner Bros. Entertainment Inc.  (s18)

All ® notices signify marks registered in the United States.  © 2018 Scientific Games Corporation.  All Rights Reserved.

 

About Scientific Games:
Scientific Games Corporation is a world leader in gaming entertainment offering the industry’s broadest and most integrated portfolio of game content, advanced systems, cutting-edge platforms and professional services. The company is #1 in technology-based gaming systems, digital real-money gaming and sports betting platforms, casino table games and utility products and lottery instant games, and a leading provider of games, systems and services for casino, lottery and social gaming. Committed to responsible gaming, Scientific Games delivers what customers and players value most: trusted security, engaging entertainment content, operating efficiencies and innovative technology. For more information, please visit www.scientificgames.com

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