Gambling in the USA
Scientific Games Corporation Issues Statement on Liquidity and Cost-saving Measures
Scientific Games Corporation has issued a statement on its liquidity and cost-saving measures. The company stated that it has a strong liquidity position and has already cut more than $100 million in quarterly costs.
The company has drawn approximately $480 million under its Revolving Credit Facilities to give it maximum flexibility during these difficult times. The Company believes that the proceeds from these borrowings, when combined with cash on hand (approximately $200 million), allow it to take advantage of opportunities to strengthen the business as the industry begins to recover.
âWe continue to reduce our costs so that that we can position our Company to be an even stronger competitor as the industry begins to recover. We remain committed to providing our best in class products and services to our customers across lottery, iGaming, sports betting and land-based casinos while innovating for the future. The diversity of our business, serving customers across the industry and around the globe, gives us unique strength in these challenging times,â Barry Cottle, CEO of Scientific Games, said.
SciPlay, in which the Company has an 82% shares, also has a strong liquidity position with cash on hand of approximately $130 million as of March 31, 2020, no outstanding debt and $150 million available under its Revolving Credit Facility.
The workforce cost reductions implemented by the Company, including hour and pay reductions, furloughs, and reductions in force, are expected to result in more than $50 million in cost savings in Q2, while capital expenditures in Q2 are expected to be approximately $50 million lower than previously planned. For 2020 as a whole, the Company now anticipates that capital expenditures will be in the range of $210â240 million.
The Company is planning additional cost-saving initiatives, including reductions in other operating expenses, that will lead to further potential savings.
Gambling in the USA
Gaming Americas Weekly Roundup â October 21-27
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
Ballyâs Interactive, the digital and sports betting division of Ballyâs Corporation, announced the official launch of the Bally Bet Sportsbook app in Tennessee, marking its expansion into the tenth state. This milestone comes on the heels of recent successful Bally Bet launches in Massachusetts and Maryland. Sports enthusiasts across the Volunteer State can now revel in the comprehensive offerings of the Bally Bet sportsbook app. With a wide array of betting options, including spread, money line and total bets, as well as in-game betting and same game parlays, Tennessee sports fans will have an unparalleled wagering experience.
ESE Entertainment Inc., a gaming company that provides a range of services to leading video game developers and publishers, has announced that it has acquired Bombee Global Entertainment (Bombee Americas), the North American arm of Bombee Event Production AB, (Bombee), a global production company specialised in live production, special effects, broadcast and event management for the gaming sector. Bombee has successfully collaborated with ESE to bring its premier event production services and world class customer service to North America and beyond. The North American arm of Bombee, Bombee Americas, will continue to grow and scale in this new organisational structure under ESE, while maintaining its entire team and global support.
Matthew Wantman has become the overall champion of the PokerGO Tour PLO Series II presented by PLO Mastermind. Wantman secured the prestigious honor after an impressive showing at PokerGO Studio in Las Vegas, outperforming a talented field of the best PLO players in the world to earn the $10,000 PGT Passport bonus. The PGT PLO Series II featured a series of high-stakes pot-limit Omaha tournaments. Wantmanâs consistent performance set him apart from the competition and solidified his spot atop the leaderboard.
Partnerships
SYNOT Games has announced its further expansion into the Colombian market through a partnership with BetPlay. This alliance highlights SYNOT Gamesâ commitment to increasing its presence in Latin America and providing its engaging and innovative games to a wider audience. Through this partnership, BetPlayâs online platform will feature a curated selection of SYNOTGamesâ top-performing titles, including fan favourites like Aztec Jaguar, Diamond Fever, Realm of Lions.
Internet Sports International, a global provider of turnkey race and sportsbook software solutions, announced its partnership with the We-Ko-Pa Casino Resort in Fort McDowell, Arizona. Through this consultancy, ISI is powering the casinoâs sportsbook and retail sports wagering operations on its gaming floor with its award-winning system. WKP Sportsbook is currently operating, allowing patrons to elevate their excitement by wagering on their preferred sporting events with up-to-the-minute odds and live action. The automated sportsbook kiosks provide access to a wide range of sports propositions for both the beginner and expert bettor.
Aristocrat Gaming, a leading designer, manufacturer and distributor of regulated slot games, announced it is now a promotional partner for Princess Cruises, one of the worldâs most iconic cruise lines. Through this exciting collaboration, Aristocrat Gaming will design innovative gaming experiences for guests onboard Princess ships as well as create promotions with land-based casinos that offer Princess cruises as rewards.
Gambling in the USA
Gaming Americas Weekly Roundup â October 14-20
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
Konami Gamingâs President & Chief Executive Officer Steve Sutherland has received the Association of Gaming Equipment Manufacturersâ (AGEM) 2024 Jens Halle Memorial Award during the official awards ceremony at the Global Gaming Expo (G2E) Las Vegas. He was selected for excellence in commercial gaming professionalism, as the embodiment of business success, attention to detail, evident humanity, willingness to âgo the extra mileâ and long-lasting dedication to the health of the industry as a whole. Investing more than three decades of his career in the gaming supplier sector, Steve Sutherland is a central figure and longtime advocate in responsible gaming industry advancement.
RotoUnderworld, a technology company that analyzes statistical data for fantasy sports, announced that it has raised $1.5 million in a pre-seed funding round to build the next-generation fantasy gaming platform. The round was led by iGaming mavens and technology investors recognising the companyâs hyperactive user base and mobile development capabilities. RotoUnderworldâs new FastDraft app is revolutionising the iGaming sector with high-engagement fantasy contests that appeal to both low and high-volume customers.
Scientific Games announced the appointment of Patrick Homm as Vice President, Systems Engineering for the companyâs international lottery systems technology. Patrick Homm brings over a decade of experience in innovative gaming systems, software engineering, technology leadership and large-scale systems architecture to his new role.
FanDuel, North Americaâs premier online gaming company and an Official Sports Betting Partner of the National Basketball Association (NBA), is tipping off the NBA season by bringing back a promotion to provide fans with a three-month subscription to NBA League Pass. Fans who opt-in can also view an enhanced broadcast experience featuring live odds from FanDuel during NBA League Pass games.
Partnerships
Community Gaming, the leading esports platform for automated tournament payouts and sponsor of the Mobile Legends: Bang Bangâs professional league for the Latin America Region, MPL LATAM, now supports developing esports communities in Latin America in collaboration with Moonton. This partnership is a significant boost to CGâs existing advantages associated with its grant programme, a partner-backed initiative to provide organisers with economic resources based on the performance and growth of their local gaming communities.
WPT Global has partnered with Triton Poker Series as the official sponsor of the renowned Triton Poker Super High Roller Series. This partnership ushers in a new era of growth for the Triton Poker Super High Roller Series, as it continues its journey as a leader in high-stakes tournament poker. WPT Global â now offers players the exclusive opportunity to qualify for Triton Poker Super High Roller Series events, expanding accessibility to one of the poker worldâs most prestigious tournament circuits.
SCCG Management, a global leader in Tribal gaming advisory and management services, has announced a strategic partnership with Steelhead Compliance Solutions, a leader in tribal gaming compliance and regulatory affairs. This partnership aims to create significant opportunities for tribal nations by connecting them with SCCGâs expansive network of over 200 affiliated gaming companies and service providers. Together, SCCG and Steelhead will work to strengthen tribal gaming operations, enhance regulatory compliance and uphold tribal sovereignty.
Gambling in the USA
Gaming Americas Weekly Roundup â October 7-13
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
PrizePicks announced the appointment of Marcus Sanford, former CFO of Blizzard Entertainment, as the companyâs new Chief Financial Officer. Ari Koteles, who has served as PrizePicksâ CFO since 2021, has been named to the newly created role of Chief Business Officer.
International Game Technology PLC announced that IGT PlayDigital recently released the award-winning Mystery of the Lamp game in several U.S. online gaming jurisdictions â New Jersey, Pennsylvania, Michigan and West Virginia. IGTâs Mystery of the Lamp game rose to super-star status by achieving high performance in land-based casinos worldwide and winning âTop Performing NEW Premium Gameâ at the lauded 2024 EKG Slot Awards Show.
NorthStar Gaming Holdings Inc. announced the launch across all NorthStar Bets online and mobile betting platforms of âSports Insights 2.0,â a robust set of enhancements and new features added to its industry-leading content vertical. Sports Insights is a key differentiating feature that supports NorthStarâs position as a premium brand and industry leader at the intersection of iGaming and media.
GAN Limited has announced that it has received approval from the Nevada Gaming Commission (NGC) for the merger of GAN and a subsidiary of SEGA SAMMY CREATION INC. (SSC), an affiliate of SEGA SAMMY HOLDINGS INC. The closing of the merger remains subject to other customary closing conditions including additional gaming regulatory approvals, and is expected to occur in late 2024 or early 2025.
Partnerships
Crane Payment Innovations (CPI) announced its agreement with Everi Holdings, a premier provider of land-based and digital casino gaming content and products, financial technology, player loyalty solutions and bingo. This collaboration will integrate Everiâs CashClub Wallet with CPIâs Betbridge cashless solution, enabling at-machine mobile payments in casinos. By building this solution on the trusted bill validator and TITO technology, CPI and Everi are making cashless payments seamless in casinos.
BetMGM announced that it is teaming up with GTG Network to deliver customised content and useful betting insights for sports fans. The multi-year agreement will roll out in phases, beginning with direct-to-consumer content followed by in-app product integrations. BetMGM will use GTGâs proprietary content engine to launch the partnership, harnessing trillions of data points to share valuable market insights, player statistics and win probabilities for MLB, NBA, NFL, NHL, college basketball and college football.
TaDa Gaming has further strengthened its position in the rapidly growing Latin American market through latest partnership with Cactus Gaming. This deal gives more players greater access to the TaDa portfolio of games and newly launched engagement tools across the region The partnership follows on from a slew of new signings for both companies and will enable the integration of the TaDa portfolio into Cactus Gamingâs platform through a single API.
The American Gaming Association (AGA), European Casino Association (ECA) and the Betting & Gaming Council (BGC) announced the signing of a memorandum of understanding that marks the beginning of a collaboration grounded in shared industry values and priorities. The MOU formalises a commitment among the three associations to address key issues facing the global gaming industry including illegal gambling, responsible gaming, innovation and security.
-
Asia5 days ago
Skillhub Online Games Federation forges strategic partnership with IESF to bring International Esports Championships to India
-
Asia4 days ago
Red Bull M.E.O. returns in 2024 to India: BGMI qualifiers lead to thrilling LAN National Finals in Chennai
-
Industry News5 days ago
International Accolade for Campaign from the Danish Gambling Authority
-
Latest News5 days ago
TRUMO LAUNCHES INSTANT OPEN BANKING PAYMENTS FOR FINNISH IGAMING REFORMS
-
Asia4 days ago
GG.BET is inviting BLAST Premier: World Final attendees to the GG.BOOTH to take part in some fun activities
-
Asia5 days ago
DreamHack India 2024: A complete guide to the esports tournaments with INR 45+ lakh prize pool on the line
-
Industry News5 days ago
Betsson Group Triumphs at the EGR Operator Awards 2024, Securing Five Major Wins
-
Asia3 days ago
NODWIN Gaming partners with Japanese gaming company KONAMI for âeFootball Diwali Showdownâ