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Gambling in the USA

Increase of Canadian gamblers in Detroit casinos

Niji Ng

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Increase of Canadian gamblers in Detroit casinos
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There has been an increase in the number of Canadian gamblers in Detroit casinos. The gains in the gambling industry have revived the hopes of a new lease of economic surge in the city after the distress following the 2008 financial crisis.

There are currently three casinos in the Detroit area: The MGM Grand Detroit, MotorCity, and Greektown Casino. While there are some tribal casinos and horse racing tracks in the state, there are no casinos on par with the three operating in Detroit.

The MGM Grand Detroit is a resort-style hotel, with a music venue and 100,000 square feet of gaming space, including VIP gaming space. The MotorCity casino has approximately the same space for a hotel and the gaming floor as well as a music venue. Greektown Casino is the youngest of the three and has roughly the same number of rooms and gaming space, as well as VIP amenities. These are the only casinos in a major metropolitan area outside Las Vegas.

While they saw decades of economic downturn and declining revenue, the casinos are now having record years. The three casinos took in nearly $150 million in one month this spring, which is their biggest haul since 2012. The expectation from financial experts is that the three casinos will continue to grow and pump more revenue into a city that desperately needs it.

Why Are the Casinos Growing in Revenue?

There are three reasons why the Detroit casinos are growing in revenue. First, the economy of the United States is continuing to improve as is the economy of Detroit since the Great Recession of 2008. There are more jobs available, and people have much more income to spend on entertainment, including the Detroit casinos.

In addition, Detroit itself is experiencing a revival. The shattered housing market all over Detroit allowed artists and entrepreneurs to take advantage of rock-bottom rents and housing prices, especially in the city’s centre. Over the last few years, Detroit has become well-known for its art, food, and culture scenes. That means more and more tourists are coming to the city and staying to eat, drink, and gamble. And, that is good news for the casinos. In addition to anchoring the downtown entertainment district, the casinos are benefitting from the sheer number of people who are visiting the area.

Perhaps the biggest reason the Detroit casinos are seeing an upswing in the number of customers is that their closest competition has been shuttered because of a worker’s strike. The Caesars Windsor Casino, which is located directly across the river in Windsor, Ontario, has been unable to have any revenue flowing through its business for the last two months.

The employees, rather than collect a 75-cent raise offered by management, decided to go on strike. So far, the casino and the employees have refused to budge, and the casino remains closed. Gamblers who wish to gamble in a resort casino have no choice but to come across the river and gamble in Detroit. To their credit, the Detroit casinos are offering incentives for Canadian residents who are coming across the border to play and will continue to offer incentives to keep them coming back even if the Canadian casino reopens. It is safe to say that Canada’s loss in revenue is Detroit’s gain.

 

Source: usaonlinecasino.com

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

US domestic casinos record a revenue of $42.7 billion in 2018

Niji Ng

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US domestic casinos record a revenue of $42.7 billion in 2018
Photo Source: booking.com
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Domestic commercial casinos in the USA posted a revenue of nearly $42.7 billion in 2018, marking an increase of 4 per cent year on year. This is also the highest ever total for the country’s gambling industry.

The Adams Revenue Revue, prepared by Reno-based gaming analyst and consultant Ken Adams for CDC Gaming Reports, indicates that 23 commercial casino markets reported gross gaming revenue (GGR) totalling $42.69 billion.

Adams termed 2018 as “a good year,” with increased earnings stemming from the opening of new casinos in Atlantic City, Massachusetts, and New York. The $42.7 billion win is a $1.5 billion premium on 2017’s total haul.

December revenue was fuelled by the introduction of new casinos, more (slot machine-like) VLTs, and, in the last half of the year, by sports betting, Adams wrote.

Despite the US gaming industry’s best casino revenue win in the nation’s history, associated stocks do not reflect the same prosperity. A downward second half for the US stock market pushed shares lower for major operators including MGM Resorts, Caesars Entertainment, Wynn Resorts, and Las Vegas Sands.

Nevada, the richest casino state in America, reported $11.9 billion in GGR last year, its third highest mark in history. Despite the Silver State losing its monopoly on sports betting following the Supreme Court’s repeal of the federal ban last May, Nevada sportsbooks recorded a record $5 billion handle, and record $301 million win.

Pennsylvania commercial casinos enjoyed their best year in history, with GGR totaling $3.24 billion.

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Gambling in the USA

Scientific Games to Reschedule Investor Conference Call on Thursday, February 21, 2019 to 8:30 a.m. Eastern Time

George Miller

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Scientific Games to Reschedule Investor Conference Call on Thursday, February 21, 2019 to 8:30 a.m. Eastern Time
Photo Source: OJO Images / Rex Features
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Scientific Games Corporation announced it is rescheduling the release of results for its fourth quarter ended December 31, 2018 on Thursday, February 21, 2019 to before the market opens. The Company will host an investor conference call and simultaneous webcast that day at 8:30 a.m. Eastern Time to discuss these results. The call was originally scheduled for Thursday, February 21 at 4:30 p.m. Eastern Time. Analysts and investors on the conference call will have an opportunity to ask questions.

We encourage participants to pre-register for the conference call by using the following link. Callers who pre-register will be given a conference passcode and unique PIN to gain immediate access to the call and bypass the live operator.  Participants may pre-register at any time, including up to the call start time. To pre-register, click here: Scientific Games Investor Call.

Investor Conference Call

Thursday, February 21, 2019

8:30 a.m. Eastern Time / 5:30 a.m. Pacific Time

Those without internet access or unable to pre-register may dial in by calling: 

All participants:  +1 (412) 317-5420

Conference ID: Scientific Games Corporation Investor Call

Webcast:

To access the live webcast of the call, please visit the Company’s website at www.scientificgames.com and click on the webcast link under the investor information section. A replay of the webcast will be available approximately one hour after the webcast and will be archived on the Company’s website.

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Gambling in the USA

Hard Rock Hotel & Casino Sacramento at Fire Mountain Holds Historic Topping Off Ceremony

George Miller

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Hard Rock Hotel & Casino Sacramento at Fire Mountain Holds Historic Topping Off Ceremony
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Commemorates partnership between The Seminole Tribe of Florida and Enterprise Rancheria

 

Hard Rock Hotel & Casino Sacramento at Fire Mountain held a topping off ceremony on Feb. 13, 2019, to celebrate reaching this major construction milestone in the project. The highly-anticipated property is slated to be the premier entertainment destination in Northern California once it opens in fall of 2019.

“I want to thank everyone involved in this momentous development,” said Mark Birtha, president of Hard Rock Hotel & Casino Sacramento at Fire Mountain. “It is such an incredible feeling of pride and excitement seeing it coming to life. I know this property is going to be a landmark in the region and a shining representation of all the Hard Rock brand has to offer.”

During the event, the final beam, signed by tribal members, was grandly lifted up by a crane to the top of the structure. As part of the ceremony, Hard Rock executives and tribal council recognized the construction workers’ incredible efforts and commitment to the project. The topping off event also commemorated the historic partnership between two Native American Tribes — The Seminole Tribe of Florida, owners of Hard Rock International and Enterprise Rancheria.

“This is truly a great day for our Tribe and community and for the workers, customers and business partners of our region,” said Enterprise Rancheria Tribal Chairperson Glenda Nelson. “Partnering with Hard Rock and the Seminole Tribe is a real game changer with their world-recognized brand, commitment to premium quality experiences across a full spectrum of hospitality and entertainment options, and unique corporate values make them a dream partner for us.”

Situated in the North Sacramento Valley, the property will offer the latest in live music and entertainment, hospitality, world-class gaming and exceptional cuisine. It will feature a hotel with multiple suite offerings, a large gaming facility with over 1,800 slot machine and table game positions, along with an outdoor pool and deck area, large meeting space and a great selection of bars and restaurants. The property also includes signature brand amenities like the Rock Shop® and Body Rock® fitness center.

Hard Rock Hotel & Casino Sacramento at Fire Mountain is expected to create more than 2,000 construction jobs upon its completion, with nearly 750 working at peak times on the project any given day. The development includes approximately 1,500 tons of steel (1/10th the weight of the Brooklyn Bridge steel), 15,000 cubic yards of concrete (if paved, would stretch to downtown Sacramento), 550 tons of rebar steel (laid from end to end, would stretch to San Francisco), 120 miles of electrical conduit, as well as 380 miles of wire and cabling (would stretch from Sacramento to Los Angeles) being used for the project. Upon opening later this year, the hotel-casino will employ over 1,000 full-time and part-time team members.

 

Source: Hard Rock International

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