Connect with us
SIS

Gambling in the USA

MGM Resorts International Retains TFA Capital Partners As Strategic Advisor For Development Of Key Tribal Sports Betting Partnerships

Zoltan Tundik

Published

on

Photo by rawpixel.com from Pexels
Reading Time: 2 minutes

 

The MGM-GVC joint venture offers a turn-key solution for Tribal Nations to drive casino visitation uplift and benefit from economic opportunities via sports betting

MGM Resorts International (NYSE: MGM) (“MGM Resorts” or the “Company”) has retained TFA Capital Partners (“TFA”) to assist the Company in identifying opportunities for sports betting partnerships with Tribal Nations throughout Indian Country.

TFA has extensive relationships throughout Indian Country, and with TFA’s assistance, the MGM-GVC joint venture hopes to provide Tribal Nations with a turn-key customizable omni-channel sports betting solution that includes:

  • Over-the-counter sports betting, self-service kiosks and mobile sports betting products powered by the joint venture’s proprietary end-to-end technology;
  • Premier odds setting/trading/risk management services;
  • Design, marketing and operating consultation;
  • Ability to leverage the iconic MGM brand and database, which is expected to grow with the recently-announced League partnerships with the NBA, MLB, NHL and Alliance of American Football; and
  • Employee training and operational readiness assessments.

“We are excited to bring TFA aboard as sports betting continues to roll out across the United States,” said Scott Butera, MGM Resorts’ President of Interactive Gaming. “Sports betting represents a significant opportunity for both the Tribal Nations and the MGM-GVC joint venture. We look forward to working with the TFA team to develop mutually beneficial relationships that offer the joint venture entry into new markets while providing our Tribal Nation partners with additional capabilities and resources to drive incremental demand to their casino properties.”

ABOUT MGM RESORTS INTERNATIONAL

MGM Resorts International (NYSE: MGM) is an S&P 500® global entertainment company with national and international locations featuring best-in-class hotels and casinos, state-of-the-art meetings and conference spaces, incredible live and theatrical entertainment experiences, and an extensive array of restaurant, nightlife and retail offerings. MGM Resorts creates immersive, iconic experiences through its suite of Las Vegas-inspired brands. The MGM Resorts portfolio encompasses 28 unique hotel offerings including some of the most recognizable resort brands in the industry. Expanding throughout the U.S. and around the world, the company in 2018 opened MGM Springfield in Massachusetts, MGM COTAI in Macau, and the first Bellagio-branded hotel in Shanghai. The 81,000 global employees of MGM Resorts are proud of their company for being recognized as one of FORTUNE® Magazine’s World’s Most Admired Companies®. For more information visit us at www.mgmresorts.com.

ABOUT GVC HOLDINGS

GVC Holdings PLC is one of the world’s largest sports betting and gaming groups, operating both online and in the retail sector. The Group owns a comprehensive portfolio of established brands; Sports Brands include bwin, Coral, Crystalbet, Eurobet, Ladbrokes and Sportingbet; Gaming Brands include CasinoClub, Foxy Bingo, Gala, Gioco Digitale, PartyCasino and partypoker. The Group owns proprietary technology across all of its core product verticals and in addition to its B2C operations provides services to a number of third-party customers on a B2B basis. GVC acquired Ladbrokes Coral Group plc on 28 March 2018 and is now the UK’s largest high street bookmaker, with over 3,500 betting shops. The Group, incorporated in the Isle of Man, is a constituent of the FTSE 100 index and has licenses in more than 20 countries, across five continents.

ABOUT TFA CAPITAL PARTNERS

TFA Capital Partners is a specialized investment banking firm focused in Indian Country.  The company provides capital raising, strategic and financial advisory services to Tribes, their enterprises as well as to commercial entities that do business with Tribes.  TFACP is headquartered in El Segundo, California, with an office in Charlotte, North Carolina.

SOURCE MGM Resorts International

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.

Continue Reading
Advertisement
Comments

Gambling in the USA

US domestic casinos record a revenue of $42.7 billion in 2018

Niji Ng

Published

on

By

US domestic casinos record a revenue of $42.7 billion in 2018
Photo Source: booking.com
Reading Time: 1 minute

 

Domestic commercial casinos in the USA posted a revenue of nearly $42.7 billion in 2018, marking an increase of 4 per cent year on year. This is also the highest ever total for the country’s gambling industry.

The Adams Revenue Revue, prepared by Reno-based gaming analyst and consultant Ken Adams for CDC Gaming Reports, indicates that 23 commercial casino markets reported gross gaming revenue (GGR) totalling $42.69 billion.

Adams termed 2018 as “a good year,” with increased earnings stemming from the opening of new casinos in Atlantic City, Massachusetts, and New York. The $42.7 billion win is a $1.5 billion premium on 2017’s total haul.

December revenue was fuelled by the introduction of new casinos, more (slot machine-like) VLTs, and, in the last half of the year, by sports betting, Adams wrote.

Despite the US gaming industry’s best casino revenue win in the nation’s history, associated stocks do not reflect the same prosperity. A downward second half for the US stock market pushed shares lower for major operators including MGM Resorts, Caesars Entertainment, Wynn Resorts, and Las Vegas Sands.

Nevada, the richest casino state in America, reported $11.9 billion in GGR last year, its third highest mark in history. Despite the Silver State losing its monopoly on sports betting following the Supreme Court’s repeal of the federal ban last May, Nevada sportsbooks recorded a record $5 billion handle, and record $301 million win.

Pennsylvania commercial casinos enjoyed their best year in history, with GGR totaling $3.24 billion.

Continue Reading

Gambling in the USA

Scientific Games to Reschedule Investor Conference Call on Thursday, February 21, 2019 to 8:30 a.m. Eastern Time

George Miller

Published

on

Scientific Games to Reschedule Investor Conference Call on Thursday, February 21, 2019 to 8:30 a.m. Eastern Time
Photo Source: OJO Images / Rex Features
Reading Time: 1 minute

 

Scientific Games Corporation announced it is rescheduling the release of results for its fourth quarter ended December 31, 2018 on Thursday, February 21, 2019 to before the market opens. The Company will host an investor conference call and simultaneous webcast that day at 8:30 a.m. Eastern Time to discuss these results. The call was originally scheduled for Thursday, February 21 at 4:30 p.m. Eastern Time. Analysts and investors on the conference call will have an opportunity to ask questions.

We encourage participants to pre-register for the conference call by using the following link. Callers who pre-register will be given a conference passcode and unique PIN to gain immediate access to the call and bypass the live operator.  Participants may pre-register at any time, including up to the call start time. To pre-register, click here: Scientific Games Investor Call.

Investor Conference Call

Thursday, February 21, 2019

8:30 a.m. Eastern Time / 5:30 a.m. Pacific Time

Those without internet access or unable to pre-register may dial in by calling: 

All participants:  +1 (412) 317-5420

Conference ID: Scientific Games Corporation Investor Call

Webcast:

To access the live webcast of the call, please visit the Company’s website at www.scientificgames.com and click on the webcast link under the investor information section. A replay of the webcast will be available approximately one hour after the webcast and will be archived on the Company’s website.

Continue Reading

Gambling in the USA

Hard Rock Hotel & Casino Sacramento at Fire Mountain Holds Historic Topping Off Ceremony

George Miller

Published

on

Hard Rock Hotel & Casino Sacramento at Fire Mountain Holds Historic Topping Off Ceremony
Reading Time: 2 minutes

 

Commemorates partnership between The Seminole Tribe of Florida and Enterprise Rancheria

 

Hard Rock Hotel & Casino Sacramento at Fire Mountain held a topping off ceremony on Feb. 13, 2019, to celebrate reaching this major construction milestone in the project. The highly-anticipated property is slated to be the premier entertainment destination in Northern California once it opens in fall of 2019.

“I want to thank everyone involved in this momentous development,” said Mark Birtha, president of Hard Rock Hotel & Casino Sacramento at Fire Mountain. “It is such an incredible feeling of pride and excitement seeing it coming to life. I know this property is going to be a landmark in the region and a shining representation of all the Hard Rock brand has to offer.”

During the event, the final beam, signed by tribal members, was grandly lifted up by a crane to the top of the structure. As part of the ceremony, Hard Rock executives and tribal council recognized the construction workers’ incredible efforts and commitment to the project. The topping off event also commemorated the historic partnership between two Native American Tribes — The Seminole Tribe of Florida, owners of Hard Rock International and Enterprise Rancheria.

“This is truly a great day for our Tribe and community and for the workers, customers and business partners of our region,” said Enterprise Rancheria Tribal Chairperson Glenda Nelson. “Partnering with Hard Rock and the Seminole Tribe is a real game changer with their world-recognized brand, commitment to premium quality experiences across a full spectrum of hospitality and entertainment options, and unique corporate values make them a dream partner for us.”

Situated in the North Sacramento Valley, the property will offer the latest in live music and entertainment, hospitality, world-class gaming and exceptional cuisine. It will feature a hotel with multiple suite offerings, a large gaming facility with over 1,800 slot machine and table game positions, along with an outdoor pool and deck area, large meeting space and a great selection of bars and restaurants. The property also includes signature brand amenities like the Rock Shop® and Body Rock® fitness center.

Hard Rock Hotel & Casino Sacramento at Fire Mountain is expected to create more than 2,000 construction jobs upon its completion, with nearly 750 working at peak times on the project any given day. The development includes approximately 1,500 tons of steel (1/10th the weight of the Brooklyn Bridge steel), 15,000 cubic yards of concrete (if paved, would stretch to downtown Sacramento), 550 tons of rebar steel (laid from end to end, would stretch to San Francisco), 120 miles of electrical conduit, as well as 380 miles of wire and cabling (would stretch from Sacramento to Los Angeles) being used for the project. Upon opening later this year, the hotel-casino will employ over 1,000 full-time and part-time team members.

 

Source: Hard Rock 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.

Latest by author

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.