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Gambling in the USA

Sioux Falls Planning Commission agrees to issue another casino license, amid concerns

Niji Narayan

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Sioux Falls Planning Commission agrees to issue another casino license, amid concerns
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The Sioux Falls Planning Commission has approved the proposal for another casino license in spite of the mounting concerns from legislators and citizen groups. The developers behind Sioux Falls’ network of Deuces and Crown casinos are pushing for a license in the southern edge of the city.

“Does this spot of land make sense as an on-sale alcohol beverage establishment?” planning commissioner Nicholas Sershen said. “Yes, it does.”

Plans for the casino and attached strip mall project were submitted by developers with Commonland II, represented by Bryant Soberg at last week’s meeting. Soberg and business partner Kirby Muilenburg have stake in a number of different of businesses, including Commonwealth Gaming and Holdings and Crown Gaming Inc.

Commonwealth is licensed to run video lottery in 10 separate Sioux Falls casinos, according to 2018 state data, Crown Gaming owns five more, and both Soberg and Muilenburg have ties to even more casinos throughout the city.

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

MGM Ends the Talks to Buy Encore Boston Harbor Casino Resort

Niji Narayan

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MGM Ends the Talks to Buy Encore Boston Harbor Casino Resort
Photo Source: travelandleisure.com
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MGM has ended the talks with Wynn Resort to buy the Encore Boston Harbor Casino. The nearly finished property and Wynn Resorts as a whole were roped in a scandal of massive proportions that stemmed from multiple sexual misconduct allegations leveled against the casino operator’s ex-boss and founder Steve Wynn.

MGM said in a statement that they “have noted the anxiety raised by various stakeholders regarding a transaction” and that they think “the best course of action is to discontinue discussions” concerning the opportunity to buy Encore Boston Harbor. The statement further read that the company wishes to have “a positive impact on communities in which we operate.”

Wynn Resorts said in a statement that it has agreed to cease discussions with MGM “after careful consideration.” The company added that it is committed to opening and running the 671-room hotel and casino resort located along the Mystic River in Everett.

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Gambling in the USA

Tennessee Advances in Sports Betting Legalisation

Niji Narayan

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Tennessee Advances in Sports Betting Legalisation
Photo Source: knoxnews.com
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Tennessee has moved forward and reached near the sports betting legalisation. Governor Bill Lee is expected to allow Bill H1 this coming weekend, without his signature.

Policy makers are already anticipating a generous flow of new revenue into the state. Projections for gaming revenue from sports wagering hover around the $254m mark. They are based on a prediction that the state’s population of adults and 3.5 million tourists will generate an average of $30 per head in gross gaming revenue.

Tennessee will be unique among states that allow sports wagering where there will be no terrestrial offer open to bettors. The Bill legislates solely for online and mobile gambling and market entrants will be required to sign up to commercial agreements with the sports leagues in order to gain access to official data, use of which will be mandatory.

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Daily Fantasy Sports

Walt Disney Acquires Stake in DraftKings

Niji Narayan

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Walt Disney Acquires Stake in DraftKings
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Walt Disney Company has secured a stake in DraftKings, daily fantasy sports-turned-sportsbook, as part of its acquisition of 21st Century Fox.

Disney secured the stake as part of its $71.3 billion purchase of the film and entertainment business. The revelations come just a few weeks after Disney CEO Bob Iger said Disney doesn’t “intend to go into the gambling business.”

“We’ve already done some things that we would integrate it into our programming, but not to the extent that we would be facilitating gambling as an entity. In other words, we’ll provide programming that will, I guess, be designed to enlighten people who are betting on sports. But that’s as far as we would go,” Iger said on a conference.

Disney also intends to use the studio to have a presence at sports betting events that are hosted in Las Vegas. NHL’s Golden Knights and the NFL’s Raiders will move to a stadium just off the Las Vegas Strip in 2020. On the call with analysts, Iger pointed to NFL Sunday Ticket and said there has been “some exploration as to whether there was an opportunity there.”

“I think we all believe that there are opportunities to strengthen our relationship with them,” Iger said.

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