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Rivers Casino posts gains in first half of 2018

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Rivers Casino posts gains in first half of 2018
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Rivers Casino & Resort (located in Schenectady, New York) has shown better financial performance in the first half of 2018  than in 2017.

The casino started functioning at the Schenectady waterfront in February 2017, reported gross gaming revenue – money gambled minus winnings paid to gamblers – was up 15 per cent for the February–June 2018 period.

Taxes paid on the gross gaming revenue in February–June 2018 were up 19.7 per cent from the same period in 2017. So far this year, Rivers has paid $25.64 million in gaming tax; 80 per cent went to the state; 5 per cent each was paid to Schenectady and Schenectady County; and 10 per cent was divided among seven nearby counties.

Officials at Rivers would not comment on what the casino has been doing to improve its financial performance.

Rivers in some ways is a leader among the four non-Indian casinos recently opened in New York.

It has more slot machines, table games and poker tables than Tioga Downs Casino but far fewer than either Resorts World Catskills or del Lago Resort and Casino. Yet, Rivers has brought in more gross gaming revenue so far this year than any of the others. It also has paid more in taxes, in part because it has a higher tax rate on its slot machines than the other three casinos.

From opening day through June 30, 2018, $1,585,349,128 was gambled at Rivers Casino. That compares with $2.08 billion at del Lago, which opened just several days before Rivers in 2017.

But gross gaming revenue is sagging at del Lago even as it grows at Rivers: del Lago was down 2 per cent in February–June 2018 over the same period in 2017 while Rivers was up 15 per cent.

Del Lago’s general manager resigned in March and the casino announced a new director of sales last week.

Meanwhile, gross gaming revenue at Tioga Downs is up 10.5 per cent so far in 2018.

Resorts World, the most ambitious and expensive of the four casinos, has been open only five months, so there are no 2017 data for comparison.

None of the four casinos has met the host community benefit projections made when the casino developers were trying to build support for their proposals and the state was seeking voter approval of limited legalisation of non-Indian casino gambling.

In Schenectady, Rivers projected $3.32 million to $4.07 million in gaming taxes for the city in the first year the casino was open. The city budgeted $2.75 million on the assumption the casino would reach its low-end projection but be open only 10 months.

The city got only $2.07 million in 2017, so it lowered its expectations and budgeted $2.3 million in gaming tax revenue from the casino in 2018.

The city has received $1.29 million so far in 2018; if the casino maintains its performance for the second half of 2018, taxes paid to the city will exceed the projection.

Source: dailygazette.com

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Gambling in the USA

Gaming Americas Weekly Roundup – April 8-14

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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

FanDuel Group, the premier online gaming company in North America and an Official Partner of Churchill Downs Inc., announced five time Entertainer of the Year Luke Bryan and Grammy award-winning R&B singer Ne-Yo as the headlining performers at FanDuel’s inaugural Kentucky Derby Party. The exclusive, invite-only event will take place on Friday, May 3 at Paristown Arts and Entertainment District in Louisville, Kentucky from 7:00 PM to 12:00 AM.

TPI, a leading provider of innovative player communication solutions for the casino industry, has appointed Joe Tingson as its new Vice President of Customer Success. With his unparalleled dedication to his customers, Joe will play a pivotal role as a leader for our digital Customer Success and Product teams.

PrizePicks, the largest daily fantasy sports operator in North America, has announced plans for its new 33,000 square foot Atlanta Headquarters, which will be located in the Star Metals Building in Midtown Atlanta. The company plans to grow its workforce by 1000 new jobs over the next seven years, the economic impact of which will be $25M to the state of Georgia.

Century Casinos Inc. has announced that it opened its hotel in Cape Girardeau, Missouri, The Riverview. The Riverview is a 69 room, six-story building with 68,000 square feet that is adjacent to and connected with Century Casino Cape Girardeau. The project cost $30.5 million and was financed with cash on hand.

Churchill Downs Incorporated (CDI) has announced the opening of Terre Haute Casino Resort in Terre Haute, Indiana. The $290 million investment includes a casino floor with 1000 slot machines, 36 table games, and a state-of-the-art sportsbook. The 400,000-square-foot entertainment venue also features regionally inspired bars and restaurants including: Four Cornered Steakhouse, Rockwood Bar & Grill, The Soda Shoppe, Crossroads Center Bar and High Limit Bar.

Bragg Gaming Group Inc., a global B2B gaming technology and content provider, announced that Chief Financial Officer (CFO), Ronen Kannor, has notified Bragg’s board of directors (Board) that he will resign from his position to pursue other career opportunities, effective June 3, 2024. The Company confirms that the search for a replacement CFO has commenced.

Partnerships

EQL Games has partnered with global aggregation leader and NeoGames company, Pariplay, to provide the Virginia Lottery, through an agreement with NeoPollard Interactive, with a series of eInstant iLottery games for their industry-leading digital platform.

JACK Entertainment LLC announced the selection of Konami Gaming Inc.’s SYNKROS to power industry-leading systems technology across its 1.5 million square feet of casino entertainment space. The Ohio-based gaming operator’s portfolio includes a combined 2600+ gaming machines and 85 table games at JACK Cleveland Casino in downtown Cleveland, and at JACK Thistledown Racino, located approximately 10 miles to the southeast.

PrizePicks, the largest daily fantasy sports operator in North America, announced that the company has reunited with the Atlanta Braves as the club’s Official Daily Fantasy Sports Partner for the 2024 season. The partnership extends a longstanding relationship that dates back to 2020, with the two Atlanta-based companies continuing to work together on unique opportunities for their dedicated fans.

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Gambling in the USA

Gaming Americas Weekly Roundup – April 1-7

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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

International Game Technology PLC (IGT) announced that it will showcase its performance-focused portfolio of games and solutions for tribal casinos at the Indian Gaming Tradeshow & Convention (IGA) 2024, April 9-11 in Anaheim, Calif. Under the theme “We’ve Got Game,” IGT’s booth #536 will feature a compelling array of gaming solutions designed to engage players and drive growth.

Caesars Sportsbook announced its receipt of the prestigious RG Check accreditation from the Responsible Gambling Council (RGC). The certification includes an assessment of Caesars Sportsbook’s commitment to Responsible Gaming, including areas such as player and Team Member education, public awareness advertisements and funding for organisations dedicated to Responsible Gaming research, awareness and education.

Veriff, a global identity verification (IDV) provider, announced the appointment of Jeffrey Guy as President and COO. Jeffrey brings a wealth of leadership experience at technology companies in driving profitable growth and expanding product portfolio. Before Veriff, he was Chief Operating Officer at DigitalOcean, a publicly traded cloud computing platform provider.

GAN Limited announced that Mr. Brian Chang has recently been named the Company’s Chief Financial Officer. Mr. Chang had previously been serving in an interim capacity. Mr. Chang will be focused on guiding the Company towards a timely closing with Sega Sammy Creation Inc. (Sega Sammy).

Partnerships

The Commerce Casino & Hotel, home to the largest poker room in the world, has announced an exciting partnership with the richest, most prestigious and longest-running poker series – the World Series of Poker (WSOP). This collaboration signifies a pivotal moment for the poker community, bringing together two powerhouses to elevate the poker experience for players and fans worldwide.

BetRivers, powered by Rush Street Interactive, a leading US-based online betting and gaming company, has announced its partnership as the title sponsor for the upcoming NASCAR Xfinity Series Dash 4 Cash race at Dover Motor Speedway. The BetRivers 200, set for Saturday, April 27, is being undertaken with the Delaware Lottery and marks the beginning of a thrilling new chapter in NASCAR history, as RSI commits to the long-term support of this top tier sporting event.

Elys BMG Group Inc., an interactive gaming and sports betting technology company, announced the completion of its sportsbook installation at The Ugly Mug restaurant and bar situated at 723 8th St SE, in Washington, DC. This collaboration underscores Elys’ commitment to providing unparalleled sports wagering experiences for small and local businesses across America.

SCCG Management has announced a strategic partnership with mkodo, a leading technology provider in the iGaming space. This collaboration is set to distribute mkodo’s innovative geolocation product, GeoLocs and other leading solutions across the US and key global markets, including Brazil, leveraging SCCG’s robust market presence and industry expertise.

Prove Identity Inc. announced a strategic partnership with BetMGM, a sports betting and iGaming leader, to enhance the security and user experience for BetMGM customers through the cutting-edge Prove Pre-Fill identity solution. Prove Pre-Fill accelerates digital consumer onboarding by up to 79% and is used by more than 1000 businesses globally across diversified industries, including 9 of the top 10 banks.

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Gambling in the USA

Gaming Americas Weekly Roundup – March 25-31

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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

Bragg Gaming Group is now registered as an approved service provider by the Peruvian Ministry of Foreign Trade and Tourism, allowing for the distribution of online casino games, including Bragg’s proprietary and exclusive games portfolio, via the Bragg HUB aggregation platform to operators in the soon-to-be-launched LatAm iGaming market.

PENN Entertainment announced that its Board of Directors has appointed Anuj Dhanda to the Board, subject to customary regulatory approvals. Mr. Dhanda’s appointment expands the size of the Board to ten members, nine of whom satisfy the standards for director independence under the current Listing Rules of the NASDAQ Stock Market.

SlotsCalendar has launched its tailor-made platform for American users: https://www.slotscalendar.us. The brand’s clear aim is to provide a digital environment where impartial and informative content is optimised specifically for the American market.

MGM Resorts International announced that it proposes to offer $750,000,000 in aggregate principal amount of senior notes due 2032. The Company intends to use the net proceeds from the offering of the notes to repay existing indebtedness, including its outstanding 6.750% senior notes due 2025. Pending such use, the Company may invest the net proceeds in short-term interest-bearing accounts, securities, or similar investments.

Genius Sports Limited, the official data, technology and commercial partner that powers the ecosystem connecting sports, betting and media, announced that it has been certified by the State of Wisconsin Division of Gaming as a gaming-related contractor with immediate effect.

Win Systems is going to participate in the next edition of GAT with its exclusive distributor in Colombia, Comercializadora Selan S.A.S. The event will be held in Cartagena de India on April 10–11, and the company’s booth will be A11.

Pragmatic Play is set to make another appearance at a Latin American exhibition, at GAT Expo in Cartagena de Indias, Colombia. The gaming provider will be on stand A31 and A32 to showcase its diverse portfolio, including Slots, Live Casino, Virtual Sports and Bingo content, alongside its new Sportsbook offering.

Partnerships

DraftKings announced an expanded relationship with Kindbridge Behavioural Health to provide access to therapy and treatment for problem gaming in every jurisdiction where DraftKings operates its online sportsbook and iGaming products. DraftKings and Kindbridge originally joined forces in September 2023 to launch a pilot programme to deliver personalised support for sports bettors in Colorado.

The Connecticut Lottery, in partnership with Fanatics Betting and Gaming, the online and retail sports betting subsidiary of Fanatics Holdings, has opened a new retail sportsbook location at Total Mortgage Arena in Bridgeport. The exciting new location is more than 2300 square feet and features betting windows, self-service betting kiosks from Suzohapp and high-definition TVs situated all around the sportsbook.

The Texas Lottery and Texas Motor Speedway have joined together again to rev up luck for lottery players and racing fans through the new LUCKY 7s scratch ticket game. The new $5 game features chances to win a $100,000 top prize and integrates a series of promotional second-chance drawings. The drawings give players with non-winning tickets a chance to win exclusive Texas Motor Speedway prizes.

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