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Gambling in the USA

Boyd Gaming Commences Exchange Offer For 6.000% Senior Notes Due 2026

Zoltan Tundik

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From left: Joe Coe, Corporate Director of Culture and Diversity; Jen Bambao, United Way of Southern Nevada Account Representative for Boyd Gaming; Bob Morgan, UWSN President and CEO; and Paula Eylar-Lauzon, SVP of Administration, take a picture after Boyd Gaming's Corporate Office was presented with the organization's "Community Champions" Award. Source: boydgaming.com
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LAS VEGASJuly 12, 2018 – Boyd Gaming Corporation (NYSE: BYD) (the “Company”) today announced that it has commenced an exchange offer (the “Exchange Offer”) for eligible holders to exchange any and all of the Company’s outstanding 6.000% Senior Notes due 2026 (the “Unregistered Notes”) that were originally issued on June 25, 2018 in a transaction exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”), in an aggregate principal amount of $700 million.  Eligible holders of the Unregistered Notes may exchange them for an equal principal amount of the Company’s 6.000% Senior Notes due 2026, which have been registered under the Securities Act (the “Registered Notes”). The terms of the Registered Notes are substantially identical to the Unregistered Notes, except for transfer restrictions and registration rights relating to the Unregistered Notes.

The Exchange Offer will expire at 5:00 p.m.New York City time, on August 10, 2018, unless extended or terminated in accordance with its terms.  Exchanges of the Unregistered Notes for Registered Notes must be made in accordance with the terms of the Exchange Offer before the Exchange Offer expires and may be withdrawn at any time before the Exchange Offer expires.  The completion of the Exchange Offer, and participation in the Exchange Offer by eligible holders, are each subject to the terms and conditions set forth in the prospectus and transmittal materials for the Exchange Offer.

Documents describing the terms of the Exchange Offer, including the prospectus and transmittal materials for making exchanges, can be obtained from the exchange agent addressed as follows:

Wilmington Trust, National Association
Rodney Square North
1100 North Market Street
Wilmington, DE 19890-1626
Attention: Workflow Management—5th Floor

By Facsimile Transmission:
(302) 636-4139
Attention: Workflow Management—5th Floor

This press release is for informational purposes only and shall not constitute an offer to exchange, nor a solicitation of an offer to exchange, any securities. The Exchange Offer is being made only pursuant to a prospectus for the Exchange Offer, dated July 9, 2018, and related letter of transmittal, which were filed with the United States Securities and Exchange Commission.

 

SOURCE Boyd Gaming Corporation

CONTACT: Financial Contact: Josh Hirsberg, (702) 792-7234, joshhirsberg@boydgaming.com, Media Contact: David Strow, (702) 792-7386, davidstrow@boydgaming.com

After starting out as an affiliate in 2009 and developing some recognized review portals, I have moved deeper into journalism and media. My experience has lead me to move into the B2B sector and write about compliance updates and report around the happenings of the online and land based gaming sector.

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Gambling in the USA

AGA Releases New Research On Economic Impact Of Gaming Industry

George Miller

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AGA Releases New Research On Economic Impact Of Gaming Industry
Image Credit: AGA
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Report shows 9.5 percent increase in economic output; industry now supports 1.8 million jobs nationwide

 

The American Gaming Association (AGA) released a new study examining the striking impact the gaming industry has on the U.S. economy – providing stable jobs to nearly two million Americans and generating billions of dollars in tax revenue. This is the first comprehensive report on the gaming industry’s national economic impact since 2014.

Oxford Economics’ 2018 study found that the U.S. gaming industry:

  • Contributes $261 billion to the U.S. economy, a 9.5 percent increase since 2014;
  • Supports nearly 1.8 million jobs, up from 1.7 million jobs in 2014; and
  • Generates $40.8 billion in tax revenues to federal, state and local governments.

“Gaming companies across the country are enabling long-lasting careers for their employees and making a huge impact on their communities through innovative partnerships with local nonprofits, volunteerism and the generation of revenue that supports critical services. The industry’s tax revenue alone provides enough funding to hire 692,000 new teachers,” said Sara Slane, senior vice president of public affairs for the American Gaming Association. “Since our last study in 2014, casino gaming has expanded into new markets, offered innovative new entertainment options and enhanced its position as a key contributor to local, state and federal economies.”

The research was commissioned by AGA and conducted by Oxford Economics. More information about the study can be viewed here.

About AGA: 

The American Gaming Association is the premier national trade group representing the $261 billion U.S. casino industry, which supports 1.8 million jobs nationwide. AGA members include commercial and tribal casino operators, gaming suppliers and other entities affiliated with the gaming industry. It is the mission of the AGA to achieve sound policies and regulations consistent with casino gaming’s modern appeal and vast economic contributions.

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Compliance Updates

DC Council member introduces sports betting bill

Niji Ng

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DC Council member introduces sports betting bill
Photo Credit: John Locher/AP
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In a significant development in the US state of District of Columbia (DC), a council member Jack Evans has introduced the Sports Wagering Lottery Amendment Act of 2018 in the council. The bill is aimed at legalising sports betting in the state. Evans presented the bill during the Council of the District of Columbia’s regularly scheduled Committee of the Whole meeting.

The US Supreme Court lifted the federal ban on sports betting on May, when it struck down the PASPA Act that prohibited states from regulation the gambling modality. Since then a number of states have decided to take a step forward and act on the growing industry, and as close states such as Delaware, West Virginia and New Jersey have already legalised sports betting, the country’s capital does not want to be left behind.

The Council member’s office said that it has worked closely with the District’s Lottery in order to craft the legislation that would regulate and maximise the revenue made in the state. The bill establishes that residents and visitors would be able to bet both online and in person, and the Lottery would have more authority to ensure the integrity of the system.

“Today, we take the first steps towards capturing this exciting new stream of revenue, instead of watching District resident dollars fill the coffers of other jurisdictions,” said Councilmember Evans. “The District of Columbia will be the leader in a fast-growing industry. The city should take advantage of our ability to act before the Maryland or Virginia legislatures to create a thriving sports betting market, which will attract consumers to the District and generate revenue for District residents.”

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Gambling in the USA

IGT’s Blake Shelton Video Slots to Make World Debut At Seminole Hard Rock Hotel & Casino Tampa

George Miller

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IGT's Blake Shelton Video Slots to Make World Debut At Seminole Hard Rock Hotel & Casino Tampa
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Seminole Hard Rock Hotel & Casino Tampa will be the first casino in the world to receive IGT’s Blake Shelton Video Slot machines.

The machines will be available for use beginning Tuesday, September 25, in the art deco-inspired Mezzanine Level Casino.

To celebrate the arrival of the new slots, the property will be holding a contest where 10 lucky guests will win $500 each to play on one of the four machines. Contestants can enter online from September 20 to September 24.

The new video slots were created by IGT to feature Country Music Association’s “Entertainer of the Year,” five-time Male Vocalist of the Year winner and seven-time GRAMMY nominee, Blake Shelton. He’s known for his success in country music and his role as a coach on the Emmy Award-winning television show “The Voice.”

The Blake Shelton Video Slots is a low-denomination, 40 pay-line game and features a 375-credit maximum bet. The game offers a jukebox that includes many of Shelton’s 25 number one radio singles and other favorites.

There are a handful of bonuses that the game offers including the “Light up the Night” free games bonus, “I’ll be your Honey Bee” bonus and the “BS’ers” bonus, which offers players the chance to win a jackpot along with an official Blake Shelton autographed guitar.

All usage of Blake Shelton’s name, image and likeness is under permission from Ten Point Ventures, Inc. All rights reserved.

 

Source: Seminole Hard Rock Hotel & Casino Tampa

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