Gambling in the USA

Caesars’ entry boosts sports betting in Indiana

Published

6 years ago

July 4, 2018

Niji Narayan

Caesars’ entry boosts sports betting in Indiana

Photo Credits: Shutterstock

Reading Time: 3 minutes

Caesars Entertainment, one of the premier gaming companies in the USA, has acquired Centaur Gaming, an Indianapolis-based company that owns several Indiana casino and racetrack facilities. The $1.7 billion purchase will allow Caesars to enter Indiana gaming market, where sports betting has already legalised.

Two of the well-known casinos in the state – Hoosier Park in Anderson and Indiana Grand in Shelbyville – apart from three off-track betting parlours have reached Caesars’ fold as part of the deal.

Caesars now owns more than 50 casinos and hotels worldwide, including two more of Indiana’s 13 casinos. The Nevada-based company already owned the Horseshoe Hammond and the Horseshoe Southern Indiana. Now Caesars owns four total casinos in Indiana, but the purchase of the last two was not without controversy.

Indiana law dictates a $50 million transfer fee to the state government for casino purchases, a charge both Centaur and Caesars disputed. Caesars even went so far as to threaten to stop a $90 million expansion project on its Horseshoe Southern Indiana facility.

In approving the purchase, the Indiana Gaming Commission fined Caesars $1 million for the threat, which never came to fruition. The Indianapolis Star reported the companies will not avoid the fee and the state expects to receive its $50 million as part of the transfer.

With the purchase finalised, the state’s gambling interests turn to when, or if, the state legislature will legalise sports betting.

Indiana Lawmakers Look to Debate Sports Betting

Legislation introduced in Indiana’s 2018 session in Indianapolis gives the state a head start for the 2019 session, the earliest lawmakers would likely discuss any sports betting bill. But the initial bills picked up little momentum in the statehouse last year and legislatures seemed divided on many of the same issues other states have wrangled with – assuming there’s political capital to pass a bill at all.

According to the Fort Wayne Journal Gazette, lawmakers still have to discuss permitted wagering locations, tax rates, mobile accessibility and revenue distribution. There’s also concerns about bets on amateur events, which is complicated by the NCAA. The organisation is headquartered in Indianapolis and was the primary defendant in the Supreme Court case that ultimately struck down the federal ban on sports betting.

If lawmakers pass a final bill through both houses, it will also need the approval from Gov. Eric Holcomb. The Journal Gazette reported the governor previously declined to comment on the prospects of approving a sports betting bill, saying it wasn’t a priority.

Still, lawmakers have viewed it as more of a priority than the governor and are undertaking a study of sports gambling’s’ impact on the state. Multiple lawmakers said they will file bills in time for the 2019 session where it will likely gain more traction than in 2018.

Out-Of-State Developments Could Spur Action

The progress and templates set by early sports betting adaptors could not only spur action but lay out a framework in Indiana.

Along with Nevada’s long-standing sports betting legalisation, Delaware, New Jersey, Rhode Island, Mississippi and West Virginia have all approved sports wagering and all will have taken bets before the end of the year. Several other states, notably Pennsylvania and New York, are working towards a system to take sports bets as well.

They’re far from alone. Several midwestern states, including neighbouring Illinois, have discussed sports betting at length and appear at the very least open to gambling expansion.

Kentucky, Indiana’s southern neighbour, has also made strides towards sports betting. A bipartisan group of lawmakers from both Bluegrass State legislative bodies have formed a bill that lays out their solution to many of the sports betting questions debated by their colleagues on the north side of the Ohio River.

Developments by Indiana’s neighbouring states combined with the increased presence of Caesars, a gambling industry leader long accustomed to handling wagers on sports, could sooner than later help push sports betting in the Hoosier State forward.

Source: gambling.com

Gambling in the USA

Gaming Americas Weekly Roundup – November 11-17

Published

5 days ago

November 18, 2024

Niji Narayan

Reading Time: 2 minutes

Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

Golden Entertainment Inc. reported financial results for the third quarter ended September 30. The Company reported third quarter revenue of $161.2 million, net income of $5.2 million and Adjusted EBITDA of $34.0 million. In addition, on November 5, the Company’s Board of Directors authorised the Company’s recurring quarterly cash dividend of $0.25 per share of the Company’s outstanding common stock payable on January 7, 2025 to shareholders of record as of December 20, 2024.

Snoqualmie Casino has announced its rebranding to Snoqualmie Casino & Hotel, reflecting an exciting new chapter in the venue’s history as it embarks on a much-anticipated expansion. Set for completion in mid-2025, this project promises to elevate the guest experience, making Snoqualmie Casino & Hotel a premier destination for entertainment, relaxation and culinary excellence. The cornerstone of the expansion is the construction of a luxurious hotel, which will offer guests unparalleled comfort and stunning views of the Snoqualmie Valley and Mount Si.

Galaxy Gaming Inc., the world’s largest independent developer and distributor of casino table games and technology announced, at a special meeting of its stockholders held on November 12, 2024 (the Special Meeting), Galaxy Gaming stockholders voted to approve the Company’s acquisition by Evolution Malta Holding Limited (Evolution), Evolution AB (publ)’s wholly owned subsidiary. Galaxy Gaming will file a Form 8-K with the U.S. Securities and Exchange Commission reporting the final voting results of the Special Meeting.

Caesars Virginia has announced that its highly anticipated opening date will be Thursday, Dec. 12, 2024. The resort will welcome its first guests beginning at noon. Additional details on the opening festivities will be announced at a later date. Caesars Virginia is a 587,000 square foot casino resort with more than 90,000 square feet of gaming space.

Partnerships

NGX has entered into a strategic partnership with Sportradar, a global leader in sports integrity solutions, which collaborates with more than 180 sports federations and leagues. The agreement aims to support the Brazilian football federations of Rio Grande do Sul, Paraná and Pará, providing detailed reports to ensure the integrity of sporting events and combat fraud.

EvenBet Gaming has announced the launch of its advanced poker solutions in partnership with JugaMax, one of the largest and most respected casino operators in Paraguay. This strategic collaboration marks EvenBet’s debut in the Paraguayan iGaming market, solidifying the company’s expansion within Latin America. The newly established partnership enables the integration of EvenBet Gaming’s poker offering on the JugaMax platform.

Jackpocket, the leading lottery app in the US, and Barstool Sports announced a new collaboration naming Jackpocket as the “Exclusive & Official Digital Lottery Partner of Barstool Sports”. The deal with Barstool follows Jackpocket’s parent company, DraftKings, announcing a similar agreement with the media company in February 2024. This collaboration centers around the integration of Jackpocket in Barstool’s content. Fans can participate in the lottery alongside some of Barstool’s biggest names such as Dave Portnoy, Big Cat & PFT from Pardon My Take – the leading sports podcast in America, Wallo & Gillie from Million Dollaz Worth of Game and more.

Gambling in the USA

Gaming Americas Weekly Roundup – November 4-10

Published

2 weeks ago

November 12, 2024

Niji Narayan

Reading Time: 2 minutes

Latest News

PENN Entertainment and ESPN announced that account linking between ESPN BET and ESPN is now available for customers, creating an even more deeply integrated media and betting experience. By linking accounts, fans now have the ability to seamlessly track upcoming, live and settled bets within the ESPN app and on ESPN.com. With this product enhancement, ESPN BET will soon bring fans more personalised bets and timely promotions based on their favourite sports, teams, players and fantasy rosters.

Accel Entertainment Inc. has announced that it has completed the acquisition of 85% of the ownership interests of Toucan Gaming LLC and LSM Gaming LLC, two Louisiana-based route operators and owners of multiple licensed video poker establishments (collectively, “Toucan”), for approximately $40 million. The combined business will operate as Toucan Gaming throughout Louisiana and will be led by Stan Guidroz, an industry-leading gaming executive and current CEO of Toucan Gaming. Mr. Guidroz owns the remaining 15% of Toucan’s ownership interests and will lead the Accel team supporting Toucan’s continued growth.

INTRALOT S.A. has announced the undertaking of a new project between the British Columbia Lottery Corporation (BCLC), the sole lottery operator for the Government of British Columbia in Canada, and INTRALOT, its US subsidiary, for the provision of an online lottery platform. The project also includes the digitalisation of the existing land-based network. The solution will be based on the Player X platform, part of the Lotos X ecosystem, and adds to the company’s overall partnership with BCLC, which has been extended until 2028.

BetMGM Poker has become the third US operator to offer multi-state online poker. The company has merged its player pools in Michigan and New Jersey. Both states are a part of the Multi-State Internet Gaming Agreement, which allows online poker networks to share liquidity and players in participating markets. The two-state network went live Wednesday afternoon after morning maintenance.

Betsson Group has celebrated its success at the SBC Awards Latinoamérica 2024, winning two prestigious awards: Sportsbook Operator of the Year and Leader of the Year, which was awarded to Kevin Saliba, Commercial Director (Business Development) for Latin America. This marks the second consecutive year Betsson has earned the Leader of the Year accolade, following Andrea Rossi’s win in 2023 – an achievement that underscores Betsson’s consistent leadership in the region.

Partnerships

Play’n GO has announced a new operator partnership with renowned gaming brand Hard Rock Digital for their top-rated Hard Rock Bet online casino platform in New Jersey. The Hard Rock brand is synonymous with entertainment worldwide, and this partnership will see Hard Rock Bet players in New Jersey gain access to hit Play’n GO titles such as Piggy Blitz, Book of Dead and Rise of Olympus 100.

SCCG Management, a global leader in gaming innovation and advisory, has announced a strategic partnership with Chata.AI, a technology provider specialising in self-service, proactive analytics that enables businesses to access real-time insights without requiring extensive technical expertise. This partnership introduces Chata.AI’s technology to the gaming industry, providing operators with powerful tools to streamline decision-making and increase operational efficiency.

Gambling in the USA

Gaming Americas Weekly Roundup – October 28-November 3

Published

3 weeks ago

November 4, 2024

Niji Narayan

Reading Time: 2 minutes

Latest News

Elray Resources Inc. has announced a significant milestone in the company’s growth strategy. The company has completed the sale of proprietary technology to 180 Life Sciences Corp. (NASDAQ:ATNF), a NASDAQ-listed company in exchange for preferred stock convertible into a 40% stake in ATNF and warrants to purchase 3 million shares of ATNF common stock, the conversion/exercise of which is subject to stockholder approval. The technology stack contained within Elray’s technology package will assist ATNF in launching an iGaming Blockchain casino.

PrizePicks, the largest daily fantasy sports operator in North America, has announced that it has been awarded Daily Fantasy Sports Operator Licenses in Delaware and Missouri. The company will launch Arena, its innovative peer-to-peer fantasy sports contest, in both states. With these new state launches, Arena will now be available in 15 states across the US.

The Pennsylvania Gaming Control Board (Board) unanimously voted to renew the Category 2 stand-alone casino license of Wind Creek Bethlehem LLC, operator of Wind Creek Bethlehem casino in Northampton County. In making the decision, the Board determined that Wind Creek Bethlehem LLC had fulfilled the obligations under its previously approved casino operator’s license and therefore qualified to have its license renewed for an additional five-year period.

Aristocrat announced that the company was the first international slot and online technology company to be granted a Gaming-Related Vendor license by The General Commercial Gaming Regulatory Authority (GCGRA), the federal entity overseeing commercial gaming activities in the United Arab Emirates (UAE). This announcement grants Aristocrat the ability to provide the company’s land-based electronic gaming machines (EGMs) and online games and technology solutions to commercial gaming operators licensed by the GCGRA.

Partnerships

SCCG Management, a leading global advisory and consulting firm in the gambling industry, has entered into a strategic partnership with Slot Machines Unlimited, a premier provider of refurbished slot machines and gaming equipment. The partnership between SCCG Management and Slot Machines Unlimited leverages both companies’ strengths: Slot Machines Unlimited’s expertise in refurbished gaming equipment and SCCG’s deep industry insight, global network and strategic growth capabilities. The collaboration will enhance Slot Machines Unlimited’s international sales and service operations, ensuring gaming establishments worldwide have access to high-quality slot machines and support.

Galaxy Gaming Inc. has announced that the Galaxy Operating System (GOS) is now live on over 50 ships worldwide with Carnival Corporation & PLC, the world’s largest leisure travel company. Since the installation, tables powered by GOS have awarded over $5 million in jackpot payouts to players. GOS is the jackpot progressive system for all Carnival Corporation ships, including Carnival Cruise Line, Holland America Line and Princess Cruises. Launched in 2024, GOS is the next-generation game management system developed by the industry’s leading table game experts.

The hottest new game from Aristocrat Gaming, Phoenix Link, is now live on casino floors, with Yaamava’ Resort & Casino being the first in North America to offer the highly-anticipated game. As the next evolution of the international hit game, Dragon Link, Phoenix Link features player-favourite mechanics from top games with all-new themes, features and bonuses.

Latest News2 days ago

Make every pixel personal: Opera GX facelift lets you match your browser to your setup down to the smallest detail

Latest News2 days ago

Casino Management System Market to Reach USD 29.09 Billion by 2032 | Enhanced Security and Operational Efficiency Drive Growth | Research by S&S Insider