Gambling in the USA

Century Casinos, Inc. Announces Second Quarter 2018 Results

Published

6 years ago

August 8, 2018

Zoltan Tundik

Photo source: Booking.com

Reading Time: 12 minutes

COLORADO SPRINGS, Colo., Aug. 8, 2018 – Century Casinos, Inc. (Nasdaq Capital Market®: CNTY) today announced its financial results for the three and six months ended June 30, 2018.

Second Quarter 2018 Highlights*

Net operating revenue was $39.6 million, an increase of 6% from the three months ended June 30, 2017.
Earnings from operations were $1.0 million, a decrease of 73% from the three months ended June 30, 2017.
Net earnings attributable to Century Casinos, Inc. shareholders was $0.3 million, a decrease of 82% from the three months ended June 30, 2017.
Adjusted EBITDA** was $4.7 million, a decrease of 27% from the three months ended June 30, 2017.
Earnings per share were $0.01.
Book value per share*** at June 30, 2018 was $6.02.

The consolidated results for the three and six months ended June 30, 2018 and 2017 are as follows:


	For the three months						For the six months
Amounts in thousands, except per share data	ended June 30,						ended June 30,
Consolidated Results:			2018		2017	% Change			2018		2017	% Change
Net Operating Revenue		$	39,648	$	37,330	6%		$	80,270	$	73,729	9%
Earnings from Operations			996		3,641	(73%)			4,249		8,133	(48%)
Net Earnings Attributable to Century Casinos, Inc. Shareholders		$	317	$	1,802	(82%)		$	1,244	$	3,962	(69%)

Adjusted EBITDA**		$	4,661	$	6,412	(27%)		$	11,226	$	13,131	(15%)

Earnings Per Share:
Basic and Diluted		$	0.01	$	0.07	(86%)		$	0.04	$	0.16	(75%)

“This quarter represented an important period for the long-term success of the Company. We opened our casino in Bath, England in May; we laid the foundation of a land-based presence in Asia with our Vietnam project; and we are finally seeing stability in Poland where we now hold eight casino licenses,” Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos remarked. “We are pleased with the growth of net operating revenue driven by strong performances in Canada, which increased 5% in local currency, and Colorado, which increased 7%,” they continued. “Adjusted EBITDA was lower compared to prior year results due to additional non-recurring expenses related to the licensing situation in Poland and the opening of the casino in Bath,” Haitzmann and Hoetzinger concluded.

Reportable Segment Results*
The table below shows the Company’s operating segments that are included in each of the Company’s reportable segments as of June 30, 2018:

Reportable Segment	Operating Segment
Canada	Century Casino & Hotel – Edmonton
Canada	Century Casino St. Albert
Canada	Century Casino Calgary
Canada	Century Downs Racetrack and Casino
Canada	Century Bets!
Canada	Century Mile Racetrack and Casino
United States	Century Casino & Hotel – Central City
United States	Century Casino & Hotel – Cripple Creek
Poland	Casinos Poland
Corporate and Other	Cruise Ships & Other
Corporate and Other	Century Casino Bath
Corporate and Other	Corporate Other

The Company’s net operating revenue increased by $2.3 million, or 6%, and by $6.5 million, or 9%, for the three and six months ended June 30, 2018, compared to the three and six months ended June 30, 2017. Following is a summary of the changes in net operating revenue by reportable segment for the three and six months ended June 30, 2018, compared to the three and six months ended June 30, 2017:


	Net Operating Revenue
	For the three months							For the six months
	ended june 30,							ended June 30,
Amounts in thousands	2018		2017		$ Change		% Change	2018		2017		$ Change		% Change
Canada	$	15,331	$	14,040	$	1,291	9%	$	30,004	$	27,202	$	2,802	10%
United States		8,476		7,943		533	7%		16,183		15,443		740	5%
Poland		14,567		14,287		280	2%		31,949		28,833		3,116	11%
Corporate and Other		1,274		1,060		214	20%		2,134		2,251		(117)	(5%)
Consolidated	$	39,648	$	37,330	$	2,318	6%	$	80,270	$	73,729	$	6,541	9%

The Company’s earnings from operations decreased by ($2.6) million, or (73%), and by ($3.9) million, or (48%), for the three and six months ended June 30, 2018, compared to the three and six months ended June 30, 2017. Following is a summary of the changes in earnings (loss) from operations by reportable segment for the three and six months ended June 30, 2018, compared to the three and six months ended June 30, 2017:


	Earnings (Loss) from Operations
	For the three months							For the six months
	ended June 30,							ended June 30,
Amounts in thousands	2018		2017		$ Change		% Change	2018		2017		$ Change		% Change
Canada	$	3,785	$	3,647	$	138	4%	$	7,340	$	6,694	$	646	10%
United States		1,548		1,346		202	15%		2,724		2,504		220	9%
Poland		(1,351)		636		(1,987)	(312%)		(329)		2,442		(2,771)	(114%)
Corporate and Other		(2,986)		(1,988)		(998)	(50%)		(5,486)		(3,507)		(1,979)	(56%)
Consolidated	$	996	$	3,641	$	(2,645)	(73%)	$	4,249	$	8,133	$	(3,884)	(48%)

Net earnings attributable to Century Casinos, Inc. shareholders decreased by ($1.5) million, or (82%), and by ($2.7) million, or (69%), for the three and six months ended June 30, 2018, compared to the three and six months ended June 30, 2017. Following is a summary of the changes in net earnings (loss) attributable to Century Casinos, Inc. shareholders by reportable segment for the three and six months ended June 30, 2018, compared to the three and six months ended June 30, 2017:


	Net Earnings (Loss) Attributable to Century Casinos, Inc. Shareholders
	For the three months							For the six months
	ended June 30,							ended June 30,
Amounts in thousands	2018		2017		$ Change		% Change	2018		2017		$ Change		% Change
Canada	$	1,947	$	1,823	$	124	7%	$	3,972	$	3,306	$	666	20%
United States		1,151		836		315	38%		2,025		1,553		472	30%
Poland		(776)		435		(1,211)	(278%)		(246)		1,518		(1,764)	(116%)
Corporate and Other		(2,005)		(1,292)		(713)	(55%)		(4,507)		(2,415)		(2,092)	(87%)
Consolidated	$	317	$	1,802	$	(1,485)	(82%)	$	1,244	$	3,962	$	(2,718)	(69%)

Items deducted from or added to earnings from operations to arrive at net earnings (loss) attributable to Century Casinos, Inc. shareholders include interest income, interest expense, gains (losses) on foreign currency transactions and other, income tax expense and non-controlling interests.

The Company’s Adjusted EBITDA** decreased by ($1.8) million, or (27%), and by ($1.9) million, or (15%), for the three and six months ended June 30, 2018 compared to the three and six months ended June 30, 2017. Following is a summary of the changes in Adjusted EBITDA** by reportable segment for the three and six months ended June 30, 2018 compared to the three and six months ended June 30, 2017:


	Adjusted EBITDA**
	For the three months							For the six months
	ended June 30,							ended June 30,
Amounts in thousands	2018		2017		$ Change		% Change	2018		2017		$ Change		% Change
Canada	$	4,992	$	4,502	$	490	11%	$	9,702	$	8,381	$	1,321	16%
United States		2,091		1,964		127	7%		3,811		3,732		79	2%
Poland		153		1,574		(1,421)	(90%)		2,256		3,952		(1,696)	(43%)
Corporate and Other		(2,575)		(1,628)		(947)	(58%)		(4,543)		(2,934)		(1,609)	(55%)
Consolidated	$	4,661	$	6,412	$	(1,751)	(27%)	$	11,226	$	13,131	$	(1,905)	(15%)

* Amounts presented are rounded. As such, rounding differences could occur in period over period changes and percentages reported.
** Adjusted EBITDA and Adjusted EBITDA margin are Non-GAAP financial measures. See discussion and reconciliation of Non-GAAP financial measures in Supplemental Information below.
*** The Company defines book value per share as total Century Casinos, Inc. shareholders’ equity divided by outstanding common shares.

Balance Sheet and Liquidity
As of June 30, 2018, the Company had $54.4 million in cash and cash equivalents and $54.3 million in outstanding debt on its balance sheet compared to $74.7 million in cash and cash equivalents and $56.7 million in outstanding debt at December 31, 2017. The outstanding debt as of June 30, 2018included $34.0 million related to the Company’s BMO Credit Agreement, $2.8 million of bank debt related to Casinos Poland, $2.6 million of bank debt related to Century Casino Bath, $0.3 millionrelated to capital leases for Century Resorts Alberta, Century Casino Calgary, Century Casino St. Albert, Century Downs Racetrack and Casino (“CDR”) and Century Mile Racetrack and Casino, and $14.8 million related to a long-term land lease for CDR, net of $0.2 million in deferred financing costs.

Conference Call Information
Today the Company will post a copy of its quarterly report on Form 10-Q filed with the SEC for the quarter ended June 30, 2018 on its website at http://corporate.cnty.com/investor-relations/sec-filings. The Company will also post a presentation on the second quarter results on its website at http://corporate.cnty.com/investor-relations/presentations-and-interviews.

The Company will host its second quarter 2018 earnings conference call tomorrow, Thursday, August 9^th, at 8:00 am MDT; 4:00 pm CEST, respectively. U.S. domestic participants should dial 1-844-244-9160. For all international participants, please use 330-931-4670 to dial-in. Participants may listen to the call live at https://centurycasinos.adobeconnect.com/earningsrelease or obtain a recording of the call on the Company’s website until August 31, 2018 at http://corporate.cnty.com/investor-relations/sec-filings.

CENTURY CASINOS, INC. AND SUBSIDIARIES FINANCIAL INFORMATION – US GAAP BASIS
Condensed Consolidated Statements of Earnings

	For the three months					For the six months
	ended June 30,					ended June 30,
Amounts in thousands, except for per share information		2018		2017			2018		2017
Operating revenue:
Net operating revenue		$	39,648	$	37,330		$	80,270	$	73,729
Operating costs and expenses:
Total operating costs and expenses			38,651		33,689			76,020		65,596
Loss from equity investment			(1)		—			(1)		—
Earnings from operations			996		3,641			4,249		8,133
Non-operating income (expense), net			(885)		(607)			(1,838)		(1,304)
Earnings before income taxes			111		3,034			2,411		6,829
Income tax provision			(14)		(864)			(993)		(1,859)
Net earnings			97		2,170			1,418		4,970
Net loss (earnings) attributable to non-controlling interests			220		(368)			(174)		(1,008)
Net earnings attributable to Century Casinos, Inc. shareholders		$	317	$	1,802		$	1,244	$	3,962

Earnings per share attributable to Century Casinos, Inc.:
Basic		$	0.01	$	0.07		$	0.04	$	0.16
Diluted		$	0.01	$	0.07		$	0.04	$	0.16

Weighted average common shares
Basic			29,376		24,466			29,369		24,460
Diluted			29,974		24,962			29,984		24,911

CENTURY CASINOS, INC. AND SUBSIDIARIES FINANCIAL INFORMATION – US GAAP BASIS
Condensed Consolidated Balance Sheets
(Amounts in thousands)
	June 30,		December 31,
	2018		2017
Assets
Current assets	$	63,188	$	84,321
Property and equipment, net		169,809		152,778
Other assets		36,410		37,777
Total assets	$	269,407	$	274,876

Liabilities and Equity
Current liabilities	$	37,198	$	34,438
Non-current liabilities		47,960		53,120
Century Casinos, Inc. shareholders’ equity		176,884		179,897
Non-controlling interests		7,365		7,421
Total liabilities and equity	$	269,407	$	274,876

CENTURY CASINOS, INC. AND SUBSIDIARIES SUPPLEMENTAL INFORMATION
Constant Currency* Results (unaudited)

	For the three months					For the six months
	ended June 30,					ended June 30,
Amounts in thousand		2018		2017	% Change		2018		2017	% Change
Net operating revenue as reported (GAAP)	$	39,648	$	37,330	6%	$	80,270	$	73,729	9%
Foreign currency impact vs. 2017		(1,608)					(5,035)
Net operating revenue constant currency (non-GAAP)*	$	38,040	$	37,330	2%	$	75,235	$	73,729	2%

Earnings from operations (GAAP)	$	996	$	3,641	(73%)	$	4,249	$	8,133	(48%)
Foreign currency impact vs. 2017		(16)					(230)
Earnings from operations constant currency (non-GAAP)*	$	980	$	3,641	(73%)	$	4,019	$	8,133	(51%)

Net earnings attributable to Century Casinos, Inc.shareholders as reported (GAAP)	$	317	$	1,802	(82%)	$	1,244	$	3,962	(69%)
Foreign currency impact vs. 2017		(10)					(61)
Net earnings attributable to Century Casinos, Inc. shareholders constant currency (non- GAAP)*	$	307	$	1,802	(83%)	$	1,183	$	3,962	(70%)

Gains and losses on foreign currency transactions are added back to net earnings in the Company’s Adjusted EBITDA** calculations. As such, there is no foreign currency impact to Adjusted EBITDA** when calculating Constant Currency* results.

Adjusted EBITDA Margins *** (unaudited)
	For the three months		For the six months
	ended June 30,		ended June 30,
	2018	2017	2018	2017
Canada	33%	32%	32%	31%
United States	25%	25%	24%	24%
Poland	1%	11%	7%	14%
Corporate and Other	(202%)	(154%)	(213%)	(130%)
Consolidated Adjusted EBITDA Margin	12%	17%	14%	18%

CENTURY CASINOS, INC. AND SUBSIDIARIES SUPPLEMENTAL INFORMATION
Reconciliation of Adjusted EBITDA ** to Net Earnings (Loss) Attributable to Century Casinos, Inc. Shareholders by Reportable Segment.
	For the three months ended June 30, 2018
Amounts in thousands		Canada		United States		Poland		Corporate and Other		Total
Net earnings (loss)		$	1,947	$	1,151	$	(776)	$	(2,005)	$	317
Interest expense (income), net			1,020		—		36		19		1,075
Income taxes (benefit)			684		397		(210)		(857)		14
Depreciation and amortization			798		546		673		153		2,170
Net earnings (loss) attributable to non- controlling interests			199		—		(389)		(30)		(220)
Non-cash stock-based compensation			—		—		—		232		232
Gain on foreign currency transactions and cost recovery income			(65)		—		(12)		(113)		(190)
Loss (Gain) on disposition of fixed assets			1		(3)		831		—		829
Pre-opening expenses			408		—		—		26		434
Adjusted EBITDA		$	4,992	$	2,091	$	153	$	(2,575)	$	4,661


	For the three months ended June 30, 2017
Amounts in thousands		Canada		United States		Poland		Corporate and Other		Total
Net earnings (loss)		$	1,823	$	836	$	435	$	(1,292)	$	1,802
Interest expense (income), net			867		—		29		(8)		888
Income taxes (benefit)			794		510		198		(638)		864
Depreciation and amortization			845		618		472		83		2,018
Net earnings attributable to non- controlling interests			150		—		218		—		368
Non-cash stock-based compensation			—		—		—		126		126
Loss (gain) on foreign currency transactions and cost recovery income			13		—		(244)		(50)		(281)
Loss on disposition of fixed assets			10		—		241		—		251
Acquisition costs			—		—		—		151		151
Pre-opening expenses			—		—		225		—		225
Adjusted EBITDA		$	4,502	$	1,964	$	1,574	$	(1,628)	$	6,412


	For the six months ended June 30, 2018
Amounts in thousands		Canada		United States		Poland		Corporate and Other		Total
Net earnings (loss)		$	3,972	$	2,025	$	(246)	$	(4,507)	$	1,244
Interest expense (income), net			1,959		—		110		18		2,087
Income taxes (benefit)			1,219		699		112		(1,037)		993
Depreciation and amortization			1,670		1,086		1,322		245		4,323
Net earnings (loss) attributable to non- controlling interests			328		—		(124)		(30)		174
Non-cash stock-based compensation			—		—		—		347		347
(Gain) loss on foreign currency transactions and cost recovery income			(138)		—		(181)		70		(249)
Loss on disposition of fixed assets			3		1		858		1		863
Pre-opening expenses			689		—		405		350		1,444
Adjusted EBITDA		$	9,702	$	3,811	$	2,256	$	(4,543)	$	11,226


	For the six months ended June 30, 2017
Amounts in thousands		Canada		United States		Poland		Corporate and Other		Total
Net earnings (loss)		$	3,306	$	1,553	$	1,518	$	(2,415)	$	3,962
Interest expense (income), net			1,785		—		16		(12)		1,789
Income taxes (benefit)			1,324		951		612		(1,028)		1,859
Depreciation and amortization			1,648		1,228		1,044		183		4,103
Net earnings attributable to non- controlling interests			248		—		760		—		1,008
Non-cash stock-based compensation			—		—		—		235		235
Loss (gain) on foreign currency transactions and cost recovery income			31		—		(464)		(52)		(485)
Loss on disposition of fixed assets			11		—		241		3		255
Acquisition costs			28		—		—		152		180
Pre-opening expenses			—		—		225		—		225
Adjusted EBITDA		$	8,381	$	3,732	$	3,952	$	(2,934)	$	13,131

CENTURY CASINOS, INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION

* The impact of foreign exchange rates is highly variable and difficult to predict. The Company uses a Constant Currency basis to show the impact from foreign exchange rates on current period revenue compared to prior period revenue using the prior period’s foreign exchange rates. In order to properly understand the underlying business trends and performance of the Company’s ongoing operations, management believes that investors may find it useful to consider the impact of excluding changes in foreign exchange rates from the Company’s net operating revenue, earnings from operations and net earnings (loss) attributable to Century Casinos, Inc. shareholders. Constant currency results are calculated by dividing the current quarter or year to date local currency segment results, excluding the local currency impact of foreign currency gains and losses, by the prior year’s average exchange rate for the quarter or year to date and comparing them to actual U.S. dollar results for the prior quarter or year to date. The average exchange rates for the current quarter and the prior year second quarter are reported in Item 1 of the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2018. Constant currency information is not a measure of financial performance under generally accepted accounting principles in the United States of America (GAAP) and should not be considered a substitute for net operating revenue, earnings from operations or net earnings attributable to Century Casinos, Inc. shareholders as determined in accordance with GAAP.

** The Company defines Adjusted EBITDA as net earnings (loss) attributable to Century Casinos, Inc. shareholders before interest expense (income), net, income taxes (benefit), depreciation, amortization, non-controlling interest net earnings (loss) and transactions, pre-opening expenses, acquisition costs, non-cash stock-based compensation charges, asset impairment costs, (gain) loss on disposition of fixed assets, discontinued operations, (gain) loss on foreign currency transactions and other, gain on business combination and certain other one-time items, such as acquisition and disposition costs and gain or loss. Intercompany transactions consisting primarily of management and royalty fees and interest, along with their related tax effects, are excluded from the presentation of net earnings (loss) and Adjusted EBITDA reported for each segment. Not all of the aforementioned items occur in each reporting period, but have been included in the definition based on historical activity. These adjustments have no effect on the consolidated results as reported under GAAP. Adjusted EBITDA is not considered a measure of performance recognized under GAAP. Management believes that Adjusted EBITDA is a valuable measure of the relative performance of the Company and its properties. The gaming industry commonly uses Adjusted EBITDA as a method of arriving at the economic value of a casino operation. Management uses Adjusted EBITDA to compare the relative operating performance of separate operating units by eliminating the above mentioned items associated with the varying levels of capital expenditures for infrastructure required to generate revenue and the often high cost of acquiring existing operations. Adjusted EBITDA is used by the Company’s lending institution to gauge operating performance. The Company’s computation of Adjusted EBITDA may be different from, and therefore may not be comparable to, similar measures used by other companies within the gaming industry. Please see the reconciliation of Adjusted EBITDA to net earnings (loss) attributable to Century Casinos, Inc. shareholders above.

*** The Company defines Adjusted EBITDA margin as Adjusted EBITDA divided by net operating revenue. Adjusted EBITDA margin is a non- GAAP measure. Management uses this margin as one of several measures to evaluate the efficiency of the Company’s casino operations.

CENTURY CASINOS, INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION

About Century Casinos, Inc.:

Century Casinos, Inc. is an international casino entertainment company that operates worldwide. The Company owns and operates Century Casino & Hotels in Cripple Creek and Central City, Colorado, and in Edmonton, Alberta, Canada and the Century Casino in Calgary and St. Albert, Alberta, Canada and in Bath, England. Through its Austrian subsidiary, Century Resorts Management GmbH (“CRM”), formerly Century Casinos Europe GmbH, the Company holds a 66.6% ownership interest in Casinos Poland Ltd., the owner of eight casino licenses throughout Poland. Six of the casinos in Poland are operating as of August 8, 2018. The Company, through CRM, also holds 75% ownership interests in both CDR, which operates in the north metropolitan area of Calgary, Alberta, Canada, and Century Bets! Inc., which operates the pari-mutuel off-track horse betting network in southern Alberta, Canada. The Company holds a 51% ownership interest in Golden Hospitality Ltd., a company that manages a hotel and international entertainment and gaming club in Vietnam. The Company operates 13 ship-based casinos under agreements with four cruise ship owners. The Company, through CRM, also owns a 7.5% interest in, and provides consulting services to, Mendoza Central Entretenimientos S.A., a company that provides gaming-related services to Casino de Mendoza in Mendoza, Argentina. The Company is also developing Century Mile Racetrack and Casino in Edmonton, Alberta, Canada. The Company continues to pursue other international projects in various stages of development.

Century Casinos’ common stock trades on The Nasdaq Capital Market® under the symbol CNTY.

For more information about Century Casinos, visit our website at www.cnty.com.

CENTURY CASINOS, INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION

This release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and assumptions of the management of Century Casinos based on information currently available to management. Such forward-looking statements include, but are not limited to, statements regarding future results of operations, operating efficiencies, synergies and operational performance, the prospects for and timing and costs of new projects, projects in development and other opportunities, including the Century Mile, Bermuda and Vietnam projects, debt repayment, investments in joint ventures, outcomes of legal proceedings, changes in our tax provisions or exposure to additional income tax liabilities, and plans for our casinos and our Company. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from the forward-looking statements include, among others, the risks described in the section entitled “Risk Factors” under Item 1A in our Annual Report on Form 10-K for the year ended December 31, 2017 and in subsequent periodic and current SEC filings we may make. Century Casinos disclaims any obligation to revise or update any forward-looking statement that may be made from time to time by it or on its behalf.

Gambling in the USA

Nebraska’s First Permanent Casino to Open in May in Columbus

Published

2 days ago

April 25, 2024

Niji Narayan

Reading Time: 2 minutes

Nebraska’s first full-fledged, newly built and state-sanctioned gambling casino is slated to open in Columbus next month, marking a milestone in the state’s rollout of casino gambling.

The Nebraska Racing and Gaming Commission last Friday approved a target opening date of May 13 for Harrah’s Columbus.

“This is a big deal,” commission Chairman Dennis Lee said.

The state’s three other casinos are open, but in temporary facilities. According to construction schedules, all should be open by early next year.

“We’re definitely excited to open the first permanent casino in the state,” said Don Ostert, Harrah’s Columbus general manager.

The 17,000-square-foot casino floor will feature 400 slot machines and 11 live table games, including roulette and craps, Ostert said. It will feature a Brew Brothers restaurant and will offer Caesar’s sportsbook and racebook, Ostert said.

For racing fans, the complex will feature the state’s only 1-mile horse track, though racing isn’t scheduled to begin until August 16. By June, officials hope to have some horses out on the track to test the new surface.

Ostert said officials hope to draw customers from Norfolk and Grand Island, but also from Omaha and Lincoln.

Columbus Mayor James Bulkley said that, from the city’s standpoint, “we are very excited to see it get started and become part of the community.”

The developers incorporated some Columbus history into the casino, he said.

“The location where it is used to be called Wishbones, and it was a venue for years for entertainment, and so people recognize that name, and they have kept that name for the sports bar,” he said.

He expects the casino will draw from Omaha. Although driving to Columbus from downtown Omaha might take close to an hour and a half, the drive from west Omaha is more like an hour, he said.

“I can hit Elkhorn in a short hour today, which is now western Omaha,” he said.

In a few months, Omahans won’t have to leave town to visit a brand-new casino.

At Horsemen’s Park in Omaha, Warhorse Gaming officials are aiming to open their new casino in early August. It will open with 900 gaming positions, including table games and a Sweetwater Cafe.

Gambling in the USA

Gaming Americas Weekly Roundup – April 15-21

Published

5 days ago

April 22, 2024

Niji Narayan

Reading Time: 2 minutes

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

Caesars Entertainment announced that the Caesars Sportsbook Mississippi app is accepting mobile sports bets at Harrah’s Gulf Coast in Biloxi, Mississippi. Sports fans 21 and older who are interested in wagering on sports via mobile devices can download the Caesars Sportsbook Mississippi app to register and deposit statewide but must be physically present on-property at Harrah’s Gulf Coast to wager.

The Office of Lottery and Gaming (OLG) has announced that FanDuel’s sports betting app and website has officially launched. This development will introduce FanDuel’s sports wagering platform to District residents and visitors, completely replacing the current GambetDC sports betting app and website.

eCOGRA has been officially authorised by the Secretaria De Prêmios e Apostas (SPA) to operate as a certifying entity for betting systems, live gaming studios and online games in Brazil. This announcement marks a significant milestone as eCOGRA continues to extend its international offering of iGaming testing, inspection and certification (TIC) services in regulated markets across the globe.

Jennifer Shatley, a recognised expert in the field and a highly sought speaker and advisor, has joined the Responsible Online Gaming Association (ROGA) as Executive Director. Shatley has had 25+ years worth of experience, working closely with the treatment community, academics, researchers, government bodies, state councils and gaming industry representatives to promote responsible gaming.

Odditt, a leading provider of innovative sports betting data, tools and analytics, has appointed Elaine Milardo as its new Chief Technology Officer (CTO). With over 25 years of experience in the data industry and key roles at DraftKings and Vistaprint, Elaine brings a wealth of expertise to Odditt’s growing team.

Partnerships

Trustly, the global leader in Open Banking Payments, and Light & Wonder, the leading cross-platform global games company, are bringing cashless, in-person deposits to casino floors with Light & Wonder’s cashless solution, RAPIDPLAY. Building on Trustly’s success with guaranteed payments in online sports betting and iGaming, Trustly will deliver the same seamless, quick and secure online payment experience to the physical casino floor.

Fintech company Sightline has entered into an exclusive partnership with compliance and anti-fraud technology solutions leader GeoComply to bolster the security and efficiency of digital transactions within the regulated gaming industry. Sightline will integrate GeoComply’s cutting-edge IDComply identity verification solution as well as GeoComply’s compliance-grade geolocation tools across its comprehensive suite of digital payment solutions for land-based casinos and online gaming operators.

BetMGM has announced a partnership with GameCode, a distinguished iGaming company focused on the North American market. The partnership includes the launch of Boom Boom Boom, HammerCash, Gold Gold Gold and Super3 series which are now live at BetMGM in Michigan and New Jersey through direct integration. BetMGM plans to offer GameCode’s full portfolio of games in all jurisdictions where the operator’s iGaming platform is live pending regulatory approvals.

SCCG Management has announced a joint venture investment with Numb3rs, an innovative all-in-one payment solution provider built for gaming operators. The partnership aims to transform the gaming sector by integrating Numb3rs’ proprietary tech stack, ECRYPT, into the marketplace, thereby offering a comprehensive suite of payment processing solutions.

Gambling in the USA

Gaming Americas Weekly Roundup – April 8-14

Published

2 weeks ago

April 15, 2024

Niji Narayan

Reading Time: 2 minutes

Latest News

FanDuel Group, the premier online gaming company in North America and an Official Partner of Churchill Downs Inc., announced five time Entertainer of the Year Luke Bryan and Grammy award-winning R&B singer Ne-Yo as the headlining performers at FanDuel’s inaugural Kentucky Derby Party. The exclusive, invite-only event will take place on Friday, May 3 at Paristown Arts and Entertainment District in Louisville, Kentucky from 7:00 PM to 12:00 AM.

TPI, a leading provider of innovative player communication solutions for the casino industry, has appointed Joe Tingson as its new Vice President of Customer Success. With his unparalleled dedication to his customers, Joe will play a pivotal role as a leader for our digital Customer Success and Product teams.

PrizePicks, the largest daily fantasy sports operator in North America, has announced plans for its new 33,000 square foot Atlanta Headquarters, which will be located in the Star Metals Building in Midtown Atlanta. The company plans to grow its workforce by 1000 new jobs over the next seven years, the economic impact of which will be $25M to the state of Georgia.

Century Casinos Inc. has announced that it opened its hotel in Cape Girardeau, Missouri, The Riverview. The Riverview is a 69 room, six-story building with 68,000 square feet that is adjacent to and connected with Century Casino Cape Girardeau. The project cost $30.5 million and was financed with cash on hand.

Churchill Downs Incorporated (CDI) has announced the opening of Terre Haute Casino Resort in Terre Haute, Indiana. The $290 million investment includes a casino floor with 1000 slot machines, 36 table games, and a state-of-the-art sportsbook. The 400,000-square-foot entertainment venue also features regionally inspired bars and restaurants including: Four Cornered Steakhouse, Rockwood Bar & Grill, The Soda Shoppe, Crossroads Center Bar and High Limit Bar.

Bragg Gaming Group Inc., a global B2B gaming technology and content provider, announced that Chief Financial Officer (CFO), Ronen Kannor, has notified Bragg’s board of directors (Board) that he will resign from his position to pursue other career opportunities, effective June 3, 2024. The Company confirms that the search for a replacement CFO has commenced.

Partnerships

EQL Games has partnered with global aggregation leader and NeoGames company, Pariplay, to provide the Virginia Lottery, through an agreement with NeoPollard Interactive, with a series of eInstant iLottery games for their industry-leading digital platform.

JACK Entertainment LLC announced the selection of Konami Gaming Inc.’s SYNKROS to power industry-leading systems technology across its 1.5 million square feet of casino entertainment space. The Ohio-based gaming operator’s portfolio includes a combined 2600+ gaming machines and 85 table games at JACK Cleveland Casino in downtown Cleveland, and at JACK Thistledown Racino, located approximately 10 miles to the southeast.

PrizePicks, the largest daily fantasy sports operator in North America, announced that the company has reunited with the Atlanta Braves as the club’s Official Daily Fantasy Sports Partner for the 2024 season. The partnership extends a longstanding relationship that dates back to 2020, with the two Atlanta-based companies continuing to work together on unique opportunities for their dedicated fans.