Gambling in the USA

Credit Suisse rates Caesars’ chances high in regional gaming markets

Published

2 years ago

September 13, 2018

Credit Suisse rates Caesars’ chances high in regional gaming markets

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Credit Suisse’s Cameron McKnight studied the position and performance of US casino operator Caesars Entertainment Corporation, which rose from bankruptcy in 2017, and concluded that company is in the best position to dominate the Las Vegas Strip as well as the regional gaming markets.

Caesars has eight Las Vegas properties that account for 55 per cent of total EBITDA.

The company focuses on renovating and reinvigorating “long-neglected” assets and focusing on prime center-Strip locations has resulted in market share gains in the region, the analyst said. The momentum expected to continue into 2020, a new convention space should drive incremental corporate bookings and share, he said.

The regional market accounts for the remaining 45 per cent of total EBITDA, and the segment is “steady as she goes,” with revenues growing at a low-single-digit rate, McKnight said. A steady and growing market has given the company an opportunity to significantly decrease its marketing spend from $994 million in the first half of 2017 to $907 million in the first half of 2018, a notable source of margin growth, he said.

Caesars’ strong position in Las Vegas and regional markets should help it generate a 7.5-per cent EBITDA compounded annual growth rate through 2020, and the company can outperform rivals in both markets, according to Credit Suisse. The stock’s discount to peers at 8 times 2019 EBITDA makes the stock an attractive investment, in the firm’s view.

Source: benzinga.com

Gambling in the USA

AGA to Report on Q2 U.S. Commercial Casino Gaming Revenue

Published

4 hours ago

August 11, 2020

George Miller

AGA to Report on Q2 U.S. Commercial Casino Gaming Revenue

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The American Gaming Association (AGA) will host a press call on Thursday, August 13, 2020 at 11:30 a.m. EDT to provide an overview and analysis of the commercial gaming industry’s financial performance during Q2 2020. Data discussed will include national and state gross gaming revenue (GGR) broken down by gaming vertical.

WHO: Bill Miller, AGA president and CEO.

WHAT: Press call to discuss commercial casino GGR from Q2 2020 and YTD.

WHEN: Thursday, August 13, 2020 at 11:30 a.m. EDT.

WHERE: Register for the Zoom call here.

About the Report

AGA’s new Commercial Gaming Revenue Tracker provides state-by-state and cumulative insight into the U.S. commercial gaming industry’s financial performance based on state revenue reports. The first issue highlights second quarter results, ending June 30 (Q2 2020), and year-to-date comparisons.

Gambling in the USA

PointsBet Partners with Kroenke Sports & Entertainment As Official, Exclusive Gaming Partner for Denver Nuggets, Colorado Avalanche, Colorado Mammoth & Pepsi Center

Published

1 day ago

August 10, 2020

George Miller

PointsBet Partners with Kroenke Sports & Entertainment As Official, Exclusive Gaming Partner for Denver Nuggets, Colorado Avalanche, Colorado Mammoth & Pepsi Center

Reading Time: 3 minutes

PointsBet, a premier global sportsbook operator, and Kroenke Sports & Entertainment, LLC (“KSE”) announced their entrance into a new, multi-year partnership making PointsBet the official and exclusive partner of the Denver Nuggets of the National Basketball Association, Colorado Avalanche of the National Hockey League, Colorado Mammoth of the National Lacrosse League, and their home arena, Pepsi Center. The agreement spans across the entire gaming category, including retail & online sports betting, daily fantasy, online casino, and free-to-play games. As part of the deal, PointsBet has also been named an official sports betting partner of KSE’s Altitude TV and Altitude Sports Radio, which will feature PointsBet data integration.

“PointsBet is renowned within the gaming industry for product innovation and its unique PointsBetting product, as well as for having the fastest app in the marketplace,” KSE EVP & Chief Operating Officer Matt Hutchings said. “Sports fans are hungry for the added dimension that fantasy sports and gaming add to their experience. We know that Nuggets, Avs, and Mammoth fans will be excited to have the opportunity to engage more deeply with their favorite teams via PointsBet. PointsBet demonstrated just how much they value Denver and the Rocky Mountain Region, when they chose to locate their United States headquarters here in Colorado. They recognize, as do we, that Denver is a fast-growing and dynamic city home to some of the most passionate sports fans in the world.”

“It was instant from day one there were shared values between the Kroenke Sports & Entertainment team and PointsBet, with a clear focus for putting our fans and customers first. We’ve long stated that our goal is to become synonymous with Colorado sports betting, and this exclusive partnership with our hometown teams in the Denver Nuggets, Colorado Avalanche, and Colorado Mammoth, plus premium entertainment spaces within their playing arena, is a momentous step in that process,” noted Johnny Aitken, CEO of PointsBet USA. “We have defined ourselves via our proprietary, in-house technology on delivering the fastest and easiest sports betting experience in the USA, and Denver sports fans in-arena or at home watching games on the Altitude Sports Network will be provided many ways to elevate their viewing experience engaging with our market-leading PointsBet Sportsbook app.”

As part of the multi-year deal, KSE will unveil a new in-arena destination at Pepsi Center to be live for the 2020-21 seasons, featuring three distinct areas: the PointsBet Sports Bar, an outdoor patio extension of the PointsBet Sports Bar, and the PointsBet Premium Club. Pepsi Center’s club level will also undergo a rebrand for the 2020-21 seasons, now to be called the “PointsBet Club Level” featuring signage from the sportsbook, brand ambassador placements, and more. KSE will also unveil significantly enhanced in-arena WiFi for the 2020-21 seasons, complementing PointsBet’s market-leading speed and ease of use across every customer touchpoint within the PointsBet app. On gamedays, PointsBet will display prominent, broadcast-visible branding and signage, including on the stanchions at Denver Nuggets games and on the ice and dasher boards for Avalanche contests.

Additional details of the partnership include PointsBet being named an official sports betting partner of KSE’s Altitude TV and Altitude Sports Radio, with PointsBet data to be integrated into both pre-game and in-game features. PointsBet, Altitude TV, and Altitude Sports Radio will work together to enhance consumer education and encourage responsible gambling via integrated content. The Altitude Sports Radio relationship will strictly encompass the Nuggets and Avalanche, while the Altitude TV relationship will cover Mammoth lacrosse as well.

The partnership is soon to be bolstered with the release of the upcoming KSE mobile app, designed to dramatically improve the experience of planning and attending an event at Pepsi Center. Upon launch, PointsBet will be the app’s title sponsor and will be prominently incorporated via digital media and branding, social posts, push notifications, and more. PointsBet-specific push notifications and a PointsBet digital presence will also be featured in the respective apps of the Nuggets, Avalanche, and Mammoth. PointsBet will work with the Nuggets and Avalanche to further enhance fan engagement and experience via alumni appearances and events.

Though not yet available in the state of Colorado, PointsBet is expected to soon release its market-leading sports wagering app for sports bettors within the Centennial State. Those interested can currently participate in the company’s free-to-play challenge, the PointsBet Pick 6, a contest-style game that allows sports fans across the country to experience PointsBet’s premier service and technology while presenting an opportunity to win $25,000 every week. A true hometown sportsbook for the Colorado consumer, PointsBet is proud to have recently began construction on their new flagship US headquarters, based in the LoDo area of downtown Denver. The premier global sportsbook operator will also have a retail presence at Double Eagle Hotel & Casino in Cripple Creek, CO.

SOURCE PointsBet

Gambling in the USA

Gaming Americas Weekly Roundup – August 3-9

Published

1 day ago

August 10, 2020

Niji Narayan

Reading Time: 2 minutes

Welcome to our weekly roundup of American gambling news again! It was again an eventful week in the USA, despite the still-active virus attack.

Here, we are going through the weekly highlights of the American gambling industry which include the latest news, new partnerships and new appointments. Read on and get updated.

Latest News

As part of Colombia’s measures to combat the consequences of the COVID-19 pandemic, a Decree has been proposed, which allows, the operation of gambling halls of mayor districts, if they follow the pilot plan proposed. The municipalities with low cases will be able to implement pilot plans and open doors to bingos and casinos following the measures stated in the decree published by the Colombian president Ivan Duque.

The reopening of Atlantic City casinos has brought many young visitors to the casino-hotels in the state. The operators noted that many of the older regular clients have retreated temporarily, possibly because of the ongoing COVID-19 situations. Also, the operators observed a rise in visitors from the younger generation.

Partnerships

International Game Technology PLC has entered into a multi-year agreement with leading sports betting and iGaming provider, FanDuel Group. As per the agreement, IGT’s PlaySports platform will power all of FanDuel Group’s new and existing retail FanDuel Sportsbooks across the US through September 2024.

Sportsbook operator PointsBet has entered into a partnership agreement with Twin River Management Group. The agreement will see PointsBet provide iGaming and online casinos in the state of New Jersey.

Leading iGaming platform provider BtoBet has intensified its partnership with Camanbet, with the Venezuela-based operator going live online by making use of the Neuron 3 platform. Camanbet has been present on a national level for the past 14 years, primarily through its vast retail network.

New Appointments

Eilers & Krejcik Gaming, the casino consulting company based in London, has appointed Ross O’Hanley as its Senior VP. He will focus on expanding the company’s consulting services division across the land-based casino market, especially on slot operations and systems technology.

New Launchings

William Hill has launched a temporary land-based sportsbook in the ticket box office area of Capital One Arena in Washington. In this temporary space, the first sportsbook in the Capital district, bettors can place bets through seven ticket windows and there will be nine electronic kiosks.

Everi Digital, the online gaming division of Everi Holdings, has partnered with ROAR Digital, a joint venture of MGM Resorts International and GVC Holdings, to launch three of its popular three-reel mechanical titles on Borgata Online Casino, BetMGM and Party Casino New Jersey. Smokin’ 777, Meltdown and Double Ruby are available for play now on these market-leading brands for online real-money gaming in New Jersey.

New Report

The American Gaming Association has published its new report “Casino & Communities: Michigan.” The report, which was completed before the nation’s COVID-19 outbreak, shows how critical casino gaming is to Michigan’s economy, and consequently, how important gaming will be to the state’s economic resurgence. The report shows that the state’s 27 commercial and tribal casinos have an annual $6.3 billion economic impact on the state.

Compliance

Nevada gaming regulators are seeking fines against two casinos and a bowling alley, alleging that employees and patrons failed to comply with requirements including a mandate for people to wear masks or face coverings to prevent the spread of the coronavirus.

Global payment technology company Nuvei has received a certificate of registration for sports wagering in the state of Indiana. The approval from the Indiana Gaming Commission authorises Nuvei to provide payment services supporting sports betting transactions in Indiana.