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Gambling in the USA

Mount Prospect approves video gambling

Niji Narayan

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Mount Prospect approves video gambling
Photo Credits: alamy.com
Reading Time: 2 minutes

The trustees of Mount Prospect, a village in Elk Grove and Wheeling Townships in Cook County, Illinois, have approved video gambling in the village. They made this decision in order to help restaurant owners who have been complaining that they were losing out to establishments in other communities where video gambling is allowed.

Games authorized by the State Gaming Board, for example, video poker, line up and blackjack, are allowed at the video gambling terminals. Licensed liquor establishments, truck stops and veterans or fraternal establishments may apply to become a licensed terminal establishment under the state’s Video Gaming Act.

Liquor license classifications eligible for terminals are limited to retail establishments where alcoholic liquor is drawn, poured, or otherwise served for consumption on premise.

Not everyone at Tuesday’s village board meeting was on board with allowing video gambling. Nancy Duel, who represents the Northern Illinois Conference with the United Methodist Church in Arlington Heights, said the village’s gambling ordinance goes against what Mount Prospect has always wanted to be: a family community.

Instead, she said, businesses wanting video gambling could expand their business through social media, or come up with other ways to generate revenue instead of relying on gaming terminals.

“We are a family-oriented, family-friendly community and the families here are the lifeblood of this community that brings vibrance,” said Trustee Paul Hoefert, who opposes video gambling. “I think gambling as a whole counters those values and cheapens Mount Prospect.”

Prior to the vote, he said the village, through a referendum, should ask residents if they want video gambling.

“How can you go wrong with going to referendum and putting it to the people?” Hoefert said. “Do not kid yourself. Video gaming is rooted in big money.”

Trustee Richard Rogers agreed with Hoefert, saying video gambling won’t create that much revenue for businesses in the end.

“Morally, we do not want to be known for video gambling,” Rogers said. “This is a family town and people want to live here and are coming all the time because it is a pure community, or try to be as best as we can. I am against video gambling.”

Trustee Michael Zadel said: “The introduction of video gaming will not diminish the image of us as family-friendly. We have taken great pains to make sure this ordinance protects us. I think video gaming has a place and our businesses agree. This will be an enhancement to those businesses and help them become more successful.”

Trustee William Grossi said data exists that supports communities allowing video gaming — communities that have not seen an increase in crime as a result. He pointed out that Des Plaines has a casino and Arlington Heights has the racetrack.

“Betting is all around us and to oppose and put a restriction on our businesses will put them at a disadvantage and that is not justified,” said Grossi.

In the end, Hoefert and Rogers voted against the gaming ordinance. Trustees Zadel, Grossi, Eleni Hatzis and Colleen Saccotelli voted in favor. The final vote was 4-2.

Mayor Arlene Juracek said the village, one year from now, will review the ordinance and feedback from business owners and the public.

 

Source: journal-topics.com

Niji Narayan 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. He reports gaming industry headlines from all around the globe.

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Gambling in the USA

Twin River Worldwide Signs Agreement to Acquire Two Casinos from Eldorado Resorts

Niji Narayan

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Twin River Worldwide Signs Agreement to Acquire Two Casinos from Eldorado Resorts
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Twin River Worldwide Holdings has entered into a definitive agreement to acquire the Isle of Capri Casino in Kansas City and Lady Luck Casino in Vicksburg from Eldorado Resorts in a cash transaction for $230 million.

The purchase price represents an implied trailing twelve month proforma earnings before interest, taxes, depreciation and amortisation multiple of approximately 8.4× for the properties on a combined basis.

“This transaction continues our focus on creating long-term shareholder value as we strive to develop or acquire assets which we believe will prove accretive to our earnings,” George Papanier, President and CEO of TRWH said.

“Isle Kansas City and Lady Luck Vicksburg expand our geographic footprint with assets in attractive markets. We believe these assets are a great fit for our portfolio and see the opportunity to increase the net cash flow from these properties by our redevelopment and operating plans. In particular, in Kansas City, where the property lies within an area near downtown that has been targeted by local officials for development, we feel there is opportunity for capital investment in the property which we believe will have a transformative impact and integrate well with local development efforts in the area,” George Papanier added.

The transaction is subject to receipt of required regulatory approvals and is expected to close in early 2020.

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Compliance Updates

Victory for Lottery in Pennsylvania Casinos’ Gambling Lawsuit

Niji Narayan

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Victory for Lottery in Pennsylvania Casinos’ Gambling Lawsuit
Photo Source: post-gazette.com
Reading Time: 1 minute

 

Pennsylvania casinos have lost a bid to close down online lottery games that they say are too much like casino gambling, just days before the state’s first casinos launch their own online gambling portals.

The decision of Commonwealth Court is a victory for the state lottery, although the casino owners’ 9-month-old lawsuit will continue.

Lottery officials say the games are in accordance with the 2017 state law that authorised them, but the casinos argue that some online lottery games violate it because they simulate slot machines and casino-style gambling.

The state regulators will allow Parx Casino and Penn Nation’s Hollywood Casino to launch their online gambling portals to patrons statewide as part of a three-day test.

New Jersey, Delaware and Nevada are the only other states that allow online casino gambling.

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Gambling in the USA

New Jersey Sportsbooks Show Remarkable Year-Over-Year Growth While Online Casinos Flourish in June, According to PlayNJ.com

George Miller

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New Jersey Sportsbooks Show Remarkable Year-Over-Year Growth While Online Casinos Flourish in June, According to PlayNJ.com
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New Jersey’s online casinos posted yet another near-record month in June while the state’s online and retail sportsbooks showed strength during a typically slow month. In all, June’s nearly $275 million handle was an impressive showing considering that the summer months are historically the slowest on the sports betting calendar, according to analysts from PlayNJ.com.

“To approach $275 million during a month where the only major sports betting event is the NBA Finals says something about the trajectory of New Jersey’s market,” says Dustin Gouker, lead sports betting analyst for PlayNJ.com. “Basketball clearly drives interest, but it also shows that interest in sports betting in general continues to expand.”

New Jersey’s sportsbooks accepted $273.2 million in bets in June, down 14% from $318.9 million in May, according to official reporting released Friday. The handle yielded $9.7 million in revenue, down 37% from $15.5 million in May.

June’s handle was up dramatically from $15.3 million in June 2018, and revenue has nearly tripled from $3.5 million in June 2018. Since launch, New Jersey sportsbooks have generated a handle of $3.2 billion and a win of $203.8 million. And New Jersey’s handle could surpass Nevada for the second consecutive month.

“The rate of growth will eventually level out, but I do not believe that time is at hand,” Gouker said. “The fact that New Jersey is now on par with Nevada, a market that has matured over generations, is remarkable. Competition from the launch of Pennsylvania’s sports betting apps could slow momentum, though.”

Online sports betting generated 83% — $226.7 million — of June’s handle, up from 82.6% in May. FanDuel Sportsbook/PointsBet generated $2.7 million in online gross revenue, or 28% of the state’s handle, edging Resorts/DraftKings. FanDuel Sportsbook at The Meadowlands lead the retail market with $1.7 million in June gross revenue.

“FanDuel has refused to loosen its grip on the New Jersey market,” Gouker said. “Other operators such as Monmouth Park and its associated online brands have shown plenty of growth, but at this point, it’s becoming difficult to see when FanDuel and DraftKings will will be seriously challenged.”

Online casinos

New Jersey’s online casino and poker industry generated $38.1 million in June revenue. June’s revenue was up 68% from $22.7 million gained in June 2018 and down slightly from $38.3 million in May.

The continued growth of online gambling — especially when online sports betting is factored in — shows that it could one day generate as much revenue as gambling in Atlantic City casinos. In fact, the Golden Nugget’s online casino brands — home to the Golden Nugget, Betfair, and SugarHouse online casino brands — could surpass Golden Nugget Atlantic City’s revenue before the end of the year. The Golden Nugget generated $13.6 million with its online casino games in June, down from $14.1 million in May. By contrast, Golden Nugget AC generated $15.8 million in June.

“Golden Nugget’s ability to generate nearly 50% of its revenue through its online casino without cannibalizing its brick-and-mortar operations should be a wakeup call to every state lawmaker and casino owner who still make the false assumption that such a dynamic is not possible,” said Steve Ruddock, lead online gambling analyst for PlayNJ.com. “Online and retail gambling are not simply compatible, they’re mutually beneficial.”

 

About the PlayUSA.com Network:

The PlayUSA.com Network and its state-focused branches (including PlayNJ.com and PlayPennsylvania.com) is a leading source for news, analysis, and research related to the market for regulated online gaming in the U.S.

 

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