Connect with us
SIS

Gambling in the USA

Gaming Americas Weekly roundup

Niji Narayan

Published

on

Reading Time: 3 minutes

Welcome to our weekly roundup of American gambling news!

All news are in one way or other influenced by COVID-19 lockdown. Many of the news have positive hues. Several gambling companies are in preparation for their reopening. Some have announced the dates for their “phased” reopening.

The re-opening would mean some unprecedented safety measures in casinos. Some of the gambling equipment manufacturers have come up with innovative Corona-specific products as well.

Then there are the financial results. As you would expect, most the the first quarter financial results were hit by the lock down and social distancing measures.

The following is a brief summary of top news happened in the North American gambling industry. Read on and get updated.

Casino Reopening

As the Eastern Band of Cherokee Indians (EBCI) and North Carolina begin to lay out a framework for easing restrictions relating to COVID-19, the casinos are looking forward to a return to operation. Harrah’s Cherokee Casinos is going to reopen its Harrah’s Cherokee Casino Resort and Harrah’s Cherokee Valley River in North Carolina on May 18.

In Arkansas, Gov. Asa Hutchinson has permitted the casinos to reopen from May 18 with limited capacity. The casinos are in preparation for resuming the operations.

Safety Measures

Gaming companies are implementing health and safety measures in their properties in this pandemic situation. MGM Resorts released health and safety guidelines for its reopening.

The guidelines titled “Seven-Point Safety Plan” offers a multi-layered set of protocols and procedures designed in conjunction with medical and scientific experts to deter the spread of the virus, protect customers and employees and rapidly respond to potential new cases. The guidelines touch on virtually every aspect of casino operation and ensure healthy social distancing.

Many casinos have even redesigned their structures to offer greater distancing and provide more separation between players. Palace Casino Resort in Mississippi is an example for this.

The resort has redesigned its casino floor layout for social distancing. The spa and fitness centre will remain closed to avoid direct contact. Valet parking, room service and other hotel services will not be available when the property reopens.

Smith Rosen Gaming Partitions has launched a set of scratch-resistant slot machine partitions, which can clean themselves. The new innovation based on UVC-powered technology will help casinos to tame the spread of the corona virus as well as to satisfy the recent regulations and recommendations for social distancing. The specifically engineered slot machine partitions are proven to stop the proliferation of virus and bacteria in a casino environment.

Financial Reports

Some companies have announced their financial results this week. Eldorado Resorts announced their first quarter 2020 results. Eldorado reported a 25% decline in revenue during Q1 due to the Coronavirus crisis. Net revenue for Q1 was US$473.1 million. Eldorado also announced an operating loss of US$123.2million. The operating income in Q1 2019 was US$123.6million.

Twin River Worldwide Holdings also announced its financial results for the first quarter of 2020. The results are expectedly modest, as the casinos remained closed from mid-March.

Compliance

In Oklahoma, the Oklahoma Indian Gaming Association (OIGA) amended its bylaws and suspended the membership of the Otoe-Missouria Tribe and the Comanche Nation. The board and membership of OIGA voted to amend its bylaws and remove two tribal members from the organisation.

The amendment to the bylaws states: A member tribe found by a vote of the Board of conduct not in the best interest of the Association may be suspended for the remainder of the calendar year. Once the suspension has expired, the tribe may seek reinstatement of membership, which shall be voted on by the board.

But, the chairmen of Otoe-Missouria Tribe and Comanche Nation have defended these gambling compacts and urged the U.S. Department of the Interior to approve them. Both the chairmen outlined their positions in a ten-page legal memo sent to Secretary of the Interior David Bernhardt.

Gambling in the USA

Mohegan Sun Casino at Virgin Hotels Las Vegas Selects Betfred USA Sports to Operate Sportsbook

George Miller

Published

on

Mohegan Sun Casino at Virgin Hotels Las Vegas Selects Betfred USA Sports to Operate Sportsbook
Reading Time: 2 minutes

 

Betfred USA Sports has been selected as the Sportsbook operator inside Mohegan Sun Casino at Virgin Hotels Las Vegas. The announcement of this strategic partnership comes one week after Mohegan Gaming & Entertainment (MGE) unveiled the name and logo for its first Las Vegas destination. The Sportsbook will be part of Mohegan Sun Casino Las Vegas’ 60,000-square foot premium gaming venue, located within Virgin Hotels Las Vegas, part of the Curio Collection by Hilton™.

“We’re excited to work with Betfred, one of the leading Sportsbook operators in the UK and Europe,” said Aviram Alroy, Vice President of Interactive Gaming at MGE. “Our affiliation will introduce new and attractive competition to the Las Vegas market. Betfred will create a seamless and best-in-class experience on our gaming floor, which will cater to both domestic and international visitors.”

The Las Vegas-based Betfred USA Sports was created in 2019 by Betfred Group specifically to enter the robust and ever-expanding U.S. sports betting market. The Betfred Sports branded Sportsbook inside Mohegan Sun Casino Las Vegas will include luxury seating, a state-of-the-art video wall, and over-the-counter wagering, as well as self-serve kiosks. This partnership marks the company’s fourth U.S. Sportsbook, following properties in Iowa, Colorado, and Pennsylvania. Online sports betting products will accompany each venue location, including in Nevada.

“Given our collaboration with two outstanding operators in Mohegan Gaming & Entertainment and Virgin Hotels Las Vegas, we are confident that our first foray into the Las Vegas Sportsbook market will be a great success,” said Betfred Group’s Chief Operating Officer, Mark Stebbings.”Through our shared expertise, we will be offering a top class service for sports bettors in the entertainment capital of the world.”

Mohegan Sun Casino Las Vegas’ eight-month renovation is currently underway, and the re-imagined Las Vegas lifestyle casino resort is slated to open in Fall 2020, subject to all regulatory approvals.

 

SOURCE Mohegan Gaming & Entertainment (MGE)

Continue Reading

Gambling in the USA

Gaming Americas Weekly Roundup – July 6-12

Niji Narayan

Published

on

Reading Time: 2 minutes

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

Here, we are going through the weekly highlights of the American gambling industry which includes new partnerships, new approvals and new launchings. Read on and get updated.

Latest News

The Michigan Gaming Control Board (MGCB) has begun accepting internet gaming and internet sports betting license applications from commercial casinos and tribes in Michigan. The MGCB also began to accept vendor registration applications from firms supporting the operators and suppliers.

California tribal leaders have received a small victory when a state Superior Court judge ruled to offer a 90-day extension in their attempts to obtain the signatures required to see their regulated sports betting proposal earn a slot on the 2022 ballot.

Bitcoin Investor, Brock Pierce has announced his candidacy for President of the United States, running as an Independent in the 2020 Presidential election. Pierce is currently the Chairman of the Bitcoin Foundation.

Station Casinos has announced that Richard J. Haskins, president of Red Rock Resorts and Station Casinos, died Saturday, July 4 in a watercraft accident while vacationing in Michigan. The company released a statement saying the board of directors expects to make further announcements regarding its plan of succession in the coming days.

Partnerships

Major League Baseball team Detroit Tigers have entered into a new multi-year partnership with sportsbook operator PointsBet to enhance fan engagement and game-day excitement at Comerica Park.

Slovenian multi-player specialist Spintec Gaming Technology and Dynamic Gaming Solutions have entered into a long-term distribution deal for North America. The partnership will help Spintec offer its products to new customers in new territories.

Online gambling operator 888 has extended its exclusive iGaming contract with the Delaware Lottery for a further two years. 888 has powered the state’s iGaming platform since 2013.

FanDuel Group and Pat McAfee Inc. have announced a broader extension of their relationship, designating FanDuel the full category exclusive sports betting, daily fantasy sports, casino and horse racing provider for Pat McAfee Inc.

BRK Inc. has announced that it will co-sponsor the Invitational round of Balance Gaming eSports tournament, “Pros vs Joes.” The sponsorship will help to promote and spur awareness of the BRK Gen2 platform in the exciting industry vertical of eSports.

Caesars-Eldorado Merger

Nevada gaming regulators have decided to review the merger between Eldorado Resorts and Caesars Entertainment on July 8. Regulators in Indiana and New Jersey are, too, yet to vote on the deal. Their boards have scheduled meetings on July 10 and July 15, respectively.

New Launchings

International Game Technology PLC (IGT) has launched its next-generation bartop hardware, the PeakBarTop cabinet. The cabinet includes a 23-inch curved, full-HD display, a front-mounted ticket printer and an embedded card reader.

New York’s Fashion Institute of Technology (FIT), in collaboration with Yellowbrick, has launched Gaming and Esports Industry Essentials, a programme designed to explore the expansive and lucrative world of gaming and esports.

New Approvals

International Game Technology’s (IGT) video gaming terminals, CrystalDual 27 and CrystalSlant, have received approval from the Pennsylvania Gaming Control Board (PGCB) to be added in qualified truck stop locations throughout the State.

Compliance

The Bolivian Gambling Control Authority (AJ) has proposed a new amendment to Law 060 on Lottery and Gambling to include new verticals such as online gaming. At the recent 2020 Initial Public Accountability Hearing, AJ Executive Director Juan Carlos Antonio Abrego presented the proposal to update the gambling regulation and make way for a better and more complete industry, with enhanced transparency and modernised options.

Continue Reading

Gambling in the USA

MGM Resorts International And GVC Holdings Commit To Second Round Of Investment In US Sports Betting And Online Gaming Platform BetMGM

George Miller

Published

on

MGM Resorts International And GVC Holdings Commit To Second Round Of Investment In US Sports Betting And Online Gaming Platform BetMGM
Reading Time: 5 minutes

 

ROAR Digital, LLC – the US sports betting and online gaming company operating as BetMGM and owned jointly by MGM Resorts International and GVC Holdings – announced that its shareholders have committed to a second round of investment, bringing the total to $450 million. This increase follows MGM Resorts’ and GVC’s total initial commitment of $200 million and underpins their commitment to BetMGM becoming a leading player in the rapidly growing US sports betting and iGaming markets. These two rounds of investment provide the Company with over $370 million of investable capital at present.

Since its launch in 2018, the Company has made significant progress and is on track to operate in 11 states by the end of 2020. In addition to the financial strength of both its shareholders, the Company benefits from MGM Resorts’ leading brand, iconic physical properties, and loyal customer base, along with GVC’s proprietary, globally-proven technology.

“We launched this business to combine the best of MGM Resorts and GVC, and establish BetMGM as a leading brand in the US sports betting and iGaming markets,” said Adam Greenblatt, CEO of ROAR Digital, LLC. “With broad market access secured, our long-term technology foundations now firmly established, and a high performing team in place, this further unequivocal support from our two shareholders will ensure we can achieve leading market positions in this exciting industry that is growing even faster than our initial expectations.”

Greenblatt concluded, “BetMGM is on track to generate over $130 million of net revenues this year predominantly from iGaming in New Jersey given the impact of COVID-19. With the return of sports and our growing operations across the US, we anticipate rapid growth in the coming year.”

The Company’s success will be built on its four core strategic tenets, each of which provide distinct competitive advantages:

1.  Market access:

The Company has already secured market access to 19 states1 which together reach approximately 50% of the US population. It has active operations in seven states with four more expected to launch by year end 2020.

With a best-in-class web, mobile, and desktop sportsbook platform as well as supporting MGM Resorts’ brick and mortar sportsbook destinations, BetMGM’s exclusive betting engine allows sports fans to place bets quickly, safely and easily in every channel. This superior experience, together with the Company’s demonstrated strength in player onboarding and management as well as GVC’s global sportsbook expertise, places BetMGM in a very strong position to achieve a leading share in the US sports betting market, estimated to achieve revenues of approximately $8.5 billion2 by 2025.

In iGaming, the Company has already achieved a leading market position in New Jersey with approximately 18% market share3 and gross gaming revenue growth of 210% in the second quarter of 2020 compared to the prior year quarter. The US iGaming market is estimated to achieve revenues of approximately $6.9 billion2 by 2025, and the Company believes that it can replicate this leading market position in other jurisdictions, as additional states legalize iGaming in the future.

2.  Customer reach:

The Company is uniquely positioned to access a wide range of customers through its partners, affiliates and its omni-channel approach.

MGM Resorts has an established portfolio of market-leading properties across the US, giving BetMGM access to market to millions of engaged and brand loyal customers. M life Rewards, MGM Resorts’ loyalty program, has over 34 million members, of which approximately 18% are located in states planned to be live on the BetMGM platform by the end of 2020.

The Company is integrating M life Rewards in support of an omni-channel strategy such that BetMGM customers will become M life Members to earn and enjoy Tier status, recognition and rewards based on their sports and iGaming wagers. Likewise, existing M life Rewards members will now have a new way to earn Tier Credits and status based on sports and iGaming wagers placed with BetMGM. This integration is expected to drive new customer acquisition, omni-channel activity, as well as ongoing customer loyalty and engagement for BetMGM.

In addition, the Company has exclusive partnerships with Yahoo Sports and Buffalo Wild Wings. Upon the imminent return of sports, the Company is looking forward to launching BetMGM to Yahoo’s 64 million monthly active users, including one of the largest fantasy sports player bases in the US.

3.  Product and technology:

BetMGM has exclusive access to GVC’s proven, highly flexible, and highly scalable in-house technology platform, which gives it world-class infrastructure, tools and content in both iGaming and sports betting.

Access to proprietary and vertically integrated technology is a key strategic advantage in delivering a leading sports and gaming proposition to customers. Core benefits include speed of development, reducing time to market on innovative new features, platform stability and flexibility, and ease of use.  The technology platform has been fully optimized ahead of the return of US sports, with the Company enjoying support from a team of over 2,000 IT specialists, including a dedicated team servicing the BetMGM product.

The Company also benefits from the maturity and rich features of GVC’s sports product, including an immersive in-play betting experience across an exhaustive range of sports as well as a range of industry leading bet management features such as Bet Rewards, Odds Boosts, Build-A-Bet, Edit-My-Bet and Auto Cash Out features. Combined with state-of-the-art engagement capabilities, best-in-class frictionless customer experience, as well as powerful omni-channel journeys and cross sell capabilities this gives BetMGM significant technological and experiential advantages. Internally developed, exclusive iGaming content has been key to BetMGM’s success in New Jersey. The current strength of product and technology, combined with the pace of improvement and innovation, strongly supports the Company’s leadership ambitions.

4.  People: 

In addition to being able to draw on the outstanding talent within both MGM Resorts and GVC, the Company has built an industry-leading team across a range of functions, including marketing, technology, product development, and customer engagement and retention.

The team has been hand-picked and combines deep industry experience from around the globe with US specialists in areas where local expertise is vital such as VIP, product UI/UX and customer research.

The US-based trading leadership team has a track-record of building trading operations and winning market share from incumbent players in the sports betting market. The approach and techniques further support the Company’s growth agenda.

“Sports betting and iGaming are fundamental to what MGM Resorts does best,” said Bill Hornbuckle, Acting CEO & President of MGM Resorts. “Our investment in ROAR is a demonstration of our continued excitement about the unique benefit of offering unforgettable, premier entertainment experiences to millions of our loyal guests directly through BetMGM. We believe this competitive advantage places BetMGM at the forefront of the most dynamic growth opportunity in all of US gaming and will ultimately deliver meaningful long-term value for our shareholders.”

“These are exciting times for BetMGM, as it continues to expand its iGaming business while also offering customers an outstanding sports betting experience as live sports returns to the US,” said Kenny Alexander, CEO of GVC. “We see enormous potential for the US market and are delighted to have such a strong foothold in it through our partnership with MGM Resorts. Our stake in BetMGM is, by some distance, the most important and exciting investment that GVC has ever made. We are absolutely committed to ensuring that the Company has the funding and technical resources needed to achieve long-term market leadership, whilst delivering significant value for shareholders.”

 

SOURCE MGM Resorts International

Continue Reading
Advertisement
NSoft

Global Gaming Industry Newsletter – Weekly Digest (sent every Wednesday)

Please select all the ways you would like to hear from European Gaming Media and Events:

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here. Read more about European Gaming Media and Event's Privacy Policy and Terms of Service.

Subscribe to our News via Email

Enter your email address to subscribe to our news and receive notifications of new posts by email.

Trending

Notice for AdBlock users

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.