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Resorts World Casino New York City Announces The Promotions Of Longtime Executives Brad Egnor And Brian Reynolds

George Miller

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RWCNYC Announces The Promotions Of Longtime Executives Brad Egnor And Brian Reynolds
Photo Source: jcj.com
Reading Time: 2 minutes

 

Resorts World Casino New York City (RWCNYC) announced the promotions of Brad Egnor to Senior Vice President of Marketing and Brian Reynolds to Senior Vice President of Operations. Mr. Egnor previously served as Vice President of Marketing and Mr. Reynolds previously served as Vice President of Finance and Administration.

 

“These promotions underpin Resorts World Casino’s commitment to a strong executive team as we continue to grow and expand this year,” said Scott Molina, President of RWCNYC. “Both Brad and Brian have proven to be impactful leaders, and they are uniquely suited to help pilot Resorts World Casino into our next phase of growth. They have become integral parts of our team and I look forward to continuing to work with them both.”

In his previous role as Vice President of Marketing, Brad Egnor managed $20 million in annual advertising placement and over $100 million in player reinvestment. Egnor has been with Genting, the parent company of RWCNYC, for over seven years in a variety of positions in F&B, Finance, Analytics and now Marketing. Prior to joining Genting, Egnor worked with Caesar’s Entertainment and Park Place Entertainment.  Brad also serves as the Co-Chair for the Young Professionals Committee at Citymeals on Wheels.

“I am thrilled for the opportunity to continue to work alongside the phenomenal team at Resorts World Casino,” said Egnor. “I am thankful to Scott for his leadership, and committed to continuing to make Resorts World Casino an exceptional entertainment experience.”

Brian Reynolds has been with RWCNYC since 2012, serving as Director of Operational Accounting before becoming Vice President of Finance and Administration. Prior to joining RWCNYC, Reynolds launched his casino career in finance at Seneca Gaming Corporation and held high-level finance positions overseeing operational accounting and compliance with Mohegan Sun Pocono and Valley Forge Casino.

“It is a privilege to be given the opportunity to serve as Senior Vice President of Operations,” said Reynolds. “As I enter my seventh year with Resorts World Casino, I am eager to help grow revenue and ensure the casino’s continued financial success.”

 

About Resorts World Casino New York City:

Resorts World Casino New York City (RWCNYC) is the only casino in New York City, offering over 10 million guests annually an unparalleled gaming and entertainment experience while generating over $2 billion for the State’s education system since opening in 2011.  RWCNYC is operated by the Genting Group, a global company founded in 1965, operating destination resorts in Malaysia, Singapore, the Philippines, the United Kingdom, the Bahamas, the United States and all four oceans through its Star Cruises, Dream Cruises and Crystal Cruises brands. Genting has more than 50 years of experience in the travel and leisure industry and collectively employs approximately 60,000 people while offering an unparalleled resort experience to over 50 million visitors a year worldwide.

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Gambling in the USA

Twin River Worldwide Signs Agreement to Acquire Two Casinos from Eldorado Resorts

Niji Narayan

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Twin River Worldwide Signs Agreement to Acquire Two Casinos from Eldorado Resorts
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Twin River Worldwide Holdings has entered into a definitive agreement to acquire the Isle of Capri Casino in Kansas City and Lady Luck Casino in Vicksburg from Eldorado Resorts in a cash transaction for $230 million.

The purchase price represents an implied trailing twelve month proforma earnings before interest, taxes, depreciation and amortisation multiple of approximately 8.4× for the properties on a combined basis.

“This transaction continues our focus on creating long-term shareholder value as we strive to develop or acquire assets which we believe will prove accretive to our earnings,” George Papanier, President and CEO of TRWH said.

“Isle Kansas City and Lady Luck Vicksburg expand our geographic footprint with assets in attractive markets. We believe these assets are a great fit for our portfolio and see the opportunity to increase the net cash flow from these properties by our redevelopment and operating plans. In particular, in Kansas City, where the property lies within an area near downtown that has been targeted by local officials for development, we feel there is opportunity for capital investment in the property which we believe will have a transformative impact and integrate well with local development efforts in the area,” George Papanier added.

The transaction is subject to receipt of required regulatory approvals and is expected to close in early 2020.

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Compliance Updates

Victory for Lottery in Pennsylvania Casinos’ Gambling Lawsuit

Niji Narayan

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Victory for Lottery in Pennsylvania Casinos’ Gambling Lawsuit
Photo Source: post-gazette.com
Reading Time: 1 minute

 

Pennsylvania casinos have lost a bid to close down online lottery games that they say are too much like casino gambling, just days before the state’s first casinos launch their own online gambling portals.

The decision of Commonwealth Court is a victory for the state lottery, although the casino owners’ 9-month-old lawsuit will continue.

Lottery officials say the games are in accordance with the 2017 state law that authorised them, but the casinos argue that some online lottery games violate it because they simulate slot machines and casino-style gambling.

The state regulators will allow Parx Casino and Penn Nation’s Hollywood Casino to launch their online gambling portals to patrons statewide as part of a three-day test.

New Jersey, Delaware and Nevada are the only other states that allow online casino gambling.

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Gambling in the USA

New Jersey Sportsbooks Show Remarkable Year-Over-Year Growth While Online Casinos Flourish in June, According to PlayNJ.com

George Miller

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New Jersey Sportsbooks Show Remarkable Year-Over-Year Growth While Online Casinos Flourish in June, According to PlayNJ.com
Reading Time: 2 minutes

 

New Jersey’s online casinos posted yet another near-record month in June while the state’s online and retail sportsbooks showed strength during a typically slow month. In all, June’s nearly $275 million handle was an impressive showing considering that the summer months are historically the slowest on the sports betting calendar, according to analysts from PlayNJ.com.

“To approach $275 million during a month where the only major sports betting event is the NBA Finals says something about the trajectory of New Jersey’s market,” says Dustin Gouker, lead sports betting analyst for PlayNJ.com. “Basketball clearly drives interest, but it also shows that interest in sports betting in general continues to expand.”

New Jersey’s sportsbooks accepted $273.2 million in bets in June, down 14% from $318.9 million in May, according to official reporting released Friday. The handle yielded $9.7 million in revenue, down 37% from $15.5 million in May.

June’s handle was up dramatically from $15.3 million in June 2018, and revenue has nearly tripled from $3.5 million in June 2018. Since launch, New Jersey sportsbooks have generated a handle of $3.2 billion and a win of $203.8 million. And New Jersey’s handle could surpass Nevada for the second consecutive month.

“The rate of growth will eventually level out, but I do not believe that time is at hand,” Gouker said. “The fact that New Jersey is now on par with Nevada, a market that has matured over generations, is remarkable. Competition from the launch of Pennsylvania’s sports betting apps could slow momentum, though.”

Online sports betting generated 83% — $226.7 million — of June’s handle, up from 82.6% in May. FanDuel Sportsbook/PointsBet generated $2.7 million in online gross revenue, or 28% of the state’s handle, edging Resorts/DraftKings. FanDuel Sportsbook at The Meadowlands lead the retail market with $1.7 million in June gross revenue.

“FanDuel has refused to loosen its grip on the New Jersey market,” Gouker said. “Other operators such as Monmouth Park and its associated online brands have shown plenty of growth, but at this point, it’s becoming difficult to see when FanDuel and DraftKings will will be seriously challenged.”

Online casinos

New Jersey’s online casino and poker industry generated $38.1 million in June revenue. June’s revenue was up 68% from $22.7 million gained in June 2018 and down slightly from $38.3 million in May.

The continued growth of online gambling — especially when online sports betting is factored in — shows that it could one day generate as much revenue as gambling in Atlantic City casinos. In fact, the Golden Nugget’s online casino brands — home to the Golden Nugget, Betfair, and SugarHouse online casino brands — could surpass Golden Nugget Atlantic City’s revenue before the end of the year. The Golden Nugget generated $13.6 million with its online casino games in June, down from $14.1 million in May. By contrast, Golden Nugget AC generated $15.8 million in June.

“Golden Nugget’s ability to generate nearly 50% of its revenue through its online casino without cannibalizing its brick-and-mortar operations should be a wakeup call to every state lawmaker and casino owner who still make the false assumption that such a dynamic is not possible,” said Steve Ruddock, lead online gambling analyst for PlayNJ.com. “Online and retail gambling are not simply compatible, they’re mutually beneficial.”

 

About the PlayUSA.com Network:

The PlayUSA.com Network and its state-focused branches (including PlayNJ.com and PlayPennsylvania.com) is a leading source for news, analysis, and research related to the market for regulated online gaming in the U.S.

 

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