Gambling in the USA

Boyd Gaming Reports Fourth-Quarter, Full-Year 2018 Results

Published

5 years ago

February 22, 2019

George Miller

Boyd Gaming Announces New Measures to Mitigate COVID-19 Impacts

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Reading Time: 13 minutes

Fourth-Quarter 2018 Highlights

Boyd Gaming Corporation reported financial results for the fourth quarter and full year ended December 31, 2018.

Keith Smith, President and Chief Executive Officer of Boyd Gaming, said: “The strategic initiatives we have executed over the past several years continued to pay off in the fourth quarter of 2018. Our recent acquisitions, efficiency programs and marketing refinements all contributed to strong results. We delivered revenue, Adjusted EBITDAR and margin growth in every segment of our business in the fourth quarter as well as the full year. Our consumer remains healthy, and we believe we are in a solid position to continue creating value for shareholders in 2019 and beyond.”

Smith continued: “During the full year 2018 we diversified our nationwide portfolio and significantly enhanced our free cash flow profile with the acquisition of six new assets across five states. We also entered into a strategic partnership with FanDuel Group, providing us a market-leading partner to pursue sports-betting and mobile wagering opportunities now emerging across the United States. And we continued to successfully execute a balanced approach to capital allocation, returning capital to shareholders while actively investing in strategic growth opportunities and prudently controlling leverage.”

Boyd Gaming reported fourth-quarter revenues of $791.6 million, up 33.0% from $595.1 million in the fourth quarter of 2017. The Company reported net income of $22.9 million, or $0.20 per share, for the fourth quarter of 2018, compared to $82.1 million, or $0.71 per share, for the year-ago period. The Company’s fourth-quarter 2017 tax provision included a $60.1 million noncash income tax benefit to recognize the impact of the federal tax legislation on its deferred tax liabilities. Project development, preopening and writedown expenses increased $12.1 million in the fourth quarter of 2018 over the prior-year period due to acquisition and development-related activities, and the launch of the Company’s redesigned player loyalty program. Corporate expense increased as compared to the fourth quarter of 2017, primarily due to the recent acquisitions.

Total Adjusted EBITDAR⁽¹⁾was $208.6 million in the fourth quarter of 2018, up 40.7% from $148.3 million in the fourth quarter of 2017. Adjusted Earnings⁽¹⁾ for the fourth quarter of 2018 were $37.0 million, or $0.32 per share, compared to Adjusted Earnings of $25.5 million, or $0.22 per share, for the same period in 2017.

Results for the fourth quarter of 2018 include $186.8 million in revenues and $48.0 million in Adjusted EBITDAR from Ameristar Kansas City, Ameristar St. Charles, Belterra Resort and Belterra Park, acquired on October 15, 2018; Valley Forge Casino Resort, acquired by the Company on September 17, 2018; and Lattner Entertainment, acquired on June 1, 2018.

₍₁₎_{See footnotes at the end of the release for additional information relative to non-GAAP financial measures.}

Operations Review

Las Vegas Locals

In the Las Vegas Locals segment, fourth-quarter 2018 revenues were $222.6 million, increasing from $219.8 million in the year-ago quarter. Fourth-quarter 2018 Adjusted EBITDAR was $73.0 million, up 13.4% from $64.4 million in the fourth quarter of 2017.

Continued operating efficiencies, marketing refinements, enhancements to the Company’s player loyalty program and strong economic conditions contributed to the 15^th consecutive quarter of Adjusted EBITDAR growth in the Las Vegas Locals segment. Operating margins improved by more than 350 basis points across the segment, as every major Locals property recorded year-over-year Adjusted EBITDAR growth.

Downtown Las Vegas

In the Downtown Las Vegas segment, revenues were $67.3 million in the fourth quarter of 2018, up from $65.1 million in the year-ago period. Adjusted EBITDAR was $18.4 million in the fourth quarter of 2018, growing 9.6% from $16.8 million in the year-ago quarter.

Strong operating trends continued throughout the segment, with further gains in pedestrian traffic as well as increased visitation from Hawaiian customers. Operational efficiencies and marketing improvements also contributed to an increase of more than 155 basis points in operating margins.

Midwest and South

In the Midwest and South segment, revenues were $501.8 million, up from $310.2 million in the fourth quarter of 2017. Adjusted EBITDAR increased 64.3% to $141.8 million, compared to $86.3 million in the year-ago period.

Fourth-quarter 2018 results for the segment include $186.8 million in revenues and $48.0 million in Adjusted EBITDAR from Ameristar Kansas City, Ameristar St. Charles, Belterra Resort, Belterra Park, Valley Forge, and Lattner Entertainment. Adjusted EBITDAR was also positively impacted in the fourth quarter of 2018 by a one-time favorable property tax benefit of $2.7 million at Kansas Star.

Segment results reflect broad-based same-store revenue and Adjusted EBITDAR gains, as nearly all of the Company’s same-store properties grew Adjusted EBITDAR during the quarter. Same-store operating margins rose more than 110 basis points year-over-year, driven by continued operating efficiencies and marketing refinements, as well as widespread economic strength.

Full-Year 2018 Results

For the full year ended December 31, 2018, Boyd Gaming reported revenues of $2.63 billion, compared to $2.40 billion for the full year 2017. Total Adjusted EBITDAR for the full year 2018 was $681.3 million, up from $595.9 million for the full year 2017. Full-year 2018 net income was $115.0 million, or $1.00 per share, compared to $189.4 million, or $1.64 per share, for the full year 2017. The Company’s prior-year tax provision included a $60.1 million noncash income tax benefit to recognize the impact of the federal tax legislation on its deferred tax liabilities. Project development, preopening and writedown expenses for the full year 2018 increased $31.2 million over the prior-year period due to acquisition and development-related activities, and the launch of the Company’s redesigned player loyalty program. Corporate expense increased as compared to the prior year primarily due to incremental costs arising from the 2018 acquisitions. Share-based compensation expense also increased year-over-year due primarily to higher incentive stock program costs.

Full-year 2018 Adjusted Earnings were $152.9 million, or $1.33 per share, up from Adjusted Earnings of $119.0 million, or $1.03 per share, for the full year 2017.

Results for the full year 2018 include $206.6 million in revenues and $52.3 million in Adjusted EBITDAR from Ameristar Kansas City, Ameristar St. Charles, Belterra Resort and Belterra Park, acquired on October 15, 2018; Valley Forge Casino Resort, acquired on September 17, 2018; and Lattner Entertainment, acquired on June 1, 2018.

Balance Sheet Statistics

As of December 31, 2018, Boyd Gaming had cash on hand of $249.4 million, and total debt of $4.03 billion.

Full-Year 2019 Guidance

For the full year 2019, Boyd Gaming projects total Adjusted EBITDAR of $885 million to $910 million.

BOYD GAMING CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)

	Three Months Ended				Year Ended
	December 31,				December 31,
*(In thousands, except per share data)*	2018 (a)		2017 (b)		2018 (a)		2017 (b)
Revenues
Gaming	$	590,413	$	430,346	$	1,925,424	$	1,740,268
Food and beverage	108,882		87,134		367,888		346,379
Room	54,170		44,511		199,500		186,795
Other	38,158		33,097		133,918		127,377
Total revenues	791,623		595,088		2,626,730		2,400,819
Operating costs and expenses
Gaming	265,025		190,015		845,486		759,612
Food and beverage	101,136		83,789		347,624		335,506
Room	26,040		20,594		90,915		85,188
Other	23,755		21,115		87,354		83,615
Selling, general and administrative	105,635		86,099		369,313		362,037
Master lease rent expense (c)	20,682		—		20,682		—
Maintenance and utilities	37,501		26,955		127,027		109,462
Depreciation and amortization	70,092		55,794		229,979		217,522
Corporate expense	29,226		24,760		104,201		88,148
Project development, preopening and writedowns	17,869		5,723		45,698		14,454
Impairments of assets	—		(426)		993		(426)
Other operating items, net	(22)		193		2,174		1,900
Total operating costs and expenses	696,939		514,611		2,271,446		2,057,018
Operating income	94,684		80,477		355,284		343,801
Other expense (income)
Interest income	(553)		(451)		(3,721)		(1,818)
Interest expense, net of amounts capitalized	60,300		43,397		204,188		173,108
Loss on early extinguishments and modifications of debt	—		729		61		1,582
Other, net	112		(715)		(276)		(184)
Total other expense, net	59,859		42,960		200,252		172,688
Income from continuing operations before income taxes	34,825		37,517		155,032		171,113
Income taxes (provision) benefit	(11,958)		44,556		(40,331)		(3,115)
Income from continuing operations, net of tax	22,867		82,073		114,701		167,998
Income from discontinued operations, net of tax	—		—		347		21,392
Net income	$	22,867	$	82,073	$	115,048	$	189,390

Basic net income per common share
Continuing operations	$	0.21	$	0.72	$	1.01	$	1.46
Discontinued operations	—		—		—		0.19
Basic net income per common share	$	0.21	$	0.72	$	1.01	$	1.65
Weighted average basic shares outstanding	114,276		114,506		114,401		114,957

Diluted net income per common share
Continuing operations	$	0.20	$	0.71	$	1.00	$	1.45
Discontinued operations	—		—		—		0.19
Diluted net income per common share	$	0.20	$	0.71	$	1.00	$	1.64
Weighted average diluted shares outstanding	114,833		115,205		115,071		115,628

_________________________________________
(a)	Results for the three months and year ended December 31, 2018 include Lattner Entertainment, acquired on June 1, 2018, Valley Forge Casino Resort, acquired on September 17, 2018, and Ameristar Casino Kansas City, Ameristar Casino St. Charles, Belterra Resort and Belterra Park, acquired on October 15, 2018, for the periods after the date of the respective acquisitions (collectively, the “Acquired Businesses”). See Boyd Gaming’s Form 10-Q for the period ended September 30, 2018, for further information regarding the Acquired Businesses.
(b)	Prior-period information has been restated for the adoption of Accounting Standards Codification Topic 606 (“ASC 606”), Revenue from Contracts with Customers, which the Company adopted effective January 1, 2018, utilizing the full retrospective transition method.
(c)	Rent expense incurred by those properties subject to a master lease with a real estate investment trust.

BOYD GAMING CORPORATION
SUPPLEMENTAL INFORMATION
Reconciliation of Adjusted EBITDA to Net Income
(Unaudited)

	Three Months Ended				Year Ended
	December 31,				December 31,
*(In thousands)*	2018 (a)		2017 (b)		2018 (a)		2017 (b)
Total Revenues by Reportable Segment
Las Vegas Locals	$	222,574	$	219,797	$	873,504	$	868,377
Downtown Las Vegas	67,277		65,081		248,110		244,441
Midwest and South	501,772		310,210		1,505,116		1,288,001
Total revenues	$	791,623	$	595,088	$	2,626,730	$	2,400,819

Adjusted EBITDAR by Reportable Segment
Las Vegas Locals	$	73,045	$	64,396	$	274,344	$	249,906
Downtown Las Vegas	18,388		16,772		56,517		54,613
Midwest and South	141,773		86,280		432,366		364,458
Property Adjusted EBITDAR	233,206		167,448		763,227		668,977
Corporate expense (c)	(24,563)		(19,196)		(81,938)		(73,046)
Adjusted EBITDAR	208,643		148,252		681,289		595,931
Master lease rent expense (d)	(20,682)		—		(20,682)		—
Adjusted EBITDA	187,961		148,252		660,607		595,931

Other operating costs and expenses
Deferred rent	275		290		1,100		1,267
Depreciation and amortization	70,092		55,794		229,979		217,522
Share-based compensation expense	5,063		6,201		25,379		17,413
Project development, preopening and writedowns	17,869		5,723		45,698		14,454
Impairments of assets	—		(426)		993		(426)
Other operating items, net	(22)		193		2,174		1,900
Total other operating costs and expenses	93,277		67,775		305,323		252,130
Operating income	94,684		80,477		355,284		343,801
Other expense (income)
Interest income	(553)		(451)		(3,721)		(1,818)
Interest expense, net of amounts capitalized	60,300		43,397		204,188		173,108
Loss on early extinguishments and modifications of debt	—		729		61		1,582
Other, net	112		(715)		(276)		(184)
Total other expense, net	59,859		42,960		200,252		172,688
Income from continuing operations before income taxes	34,825		37,517		155,032		171,113
Income taxes (provision) benefit	(11,958)		44,556		(40,331)		(3,115)
Income from continuing operations, net of tax	22,867		82,073		114,701		167,998
Income from discontinued operations, net of tax	—		—		347		21,392
Net income	$	22,867	$	82,073	$	115,048	$	189,390

_______________________________________________
(a)	Results for the three months and year ended December 31, 2018 include the Acquired Businesses, which are included in the Midwest and South segment, for the periods after the date of the respective acquisitions.
(b)	Prior-period information has been restated for the adoption of ASC 606, which the Company adopted effective January 1, 2018, utilizing the full retrospective transition method.
(c)	Reconciliation of corporate expense:


	Three Months Ended				Year Ended
	December 31,				December 31,
*(In thousands)*	2018		2017		2018		2017
Corporate expense as reported on Consolidated Statements of Operations	$	29,226	$	24,760	$	104,201	$	88,148
Corporate share-based compensation expense	(4,663)		(5,564)		(22,263)		(15,102)
Corporate expense as reported on the above table	$	24,563	$	19,196	$	81,938	$	73,046


(d)	Rent expense incurred by those properties subject to a master lease with a real estate investment trust.

BOYD GAMING CORPORATION
SUPPLEMENTAL INFORMATION
Reconciliation of Net Income to Adjusted Earnings and Net Income Per Share
to Adjusted Earnings Per Share
(Unaudited)

	Three Months Ended				Year Ended
	December 31,				December 31,
*(In thousands, except per share data)*	2018 (a)		2017 (b)		2018 (a)		2017 (b)
Net income	$	22,867	$	82,073	$	115,048	$	189,390
Less: income from discontinued operations, net of tax	—		—		(347)		(21,392)
Income from continuing operations, net of tax	22,867		82,073		114,701		167,998
*Pretax adjustments:*
Project development, preopening and writedowns	17,869		5,723		45,698		14,454
Impairments of assets	—		(426)		993		(426)
Other operating items, net	(22)		193		2,174		1,900
Loss on early extinguishments and modifications of debt	—		729		61		1,582
Other, net	112		(715)		(276)		(184)
Total adjustments	17,959		5,504		48,650		17,326

*Income tax effect for above adjustments*	(3,851)		(1,964)		(10,463)		(6,231)
*Impact of tax legislation*	—		(60,091)		—		(60,091)
Adjusted earnings	$	36,975	$	25,522	$	152,888	$	119,002

Net income per share, diluted	$	0.20	$	0.71	$	1.00	$	1.64
Less: income from discontinued operations per share	—		—		—		(0.19)
Income from continuing operations per share	0.20		0.71		1.00		1.45
*Pretax adjustments:*
Project development, preopening and writedowns	0.15		0.05		0.39		0.13
Impairments of assets	—		—		0.01		—
Other operating items, net	—		—		0.02		0.01
Loss on early extinguishments and modifications of debt	—		0.01		—		0.01
Other, net	—		(0.01)		—		—
Total adjustments	0.15		0.05		0.42		0.15

*Income tax effect for above adjustments*	(0.03)		(0.02)		(0.09)		(0.05)
*Impact of tax legislation*	—		(0.52)		—		(0.52)
Adjusted earnings per share, diluted	$	0.32	$	0.22	$	1.33	$	1.03

Weighted average diluted shares outstanding	114,833		115,205		115,071		115,628

__________________________________________
(a)	Results for the three months and year ended December 31, 2018 include the Acquired Businesses for the periods after the date of the respective acquisitions.
(b)	Prior-period information has been restated for the adoption of ASC 606, which the Company adopted effective January 1, 2018, utilizing the full retrospective transition method.

Non-GAAP Financial Measures

Regulation G, “Conditions for Use of Non-GAAP Financial Measures,” prescribes the conditions for use of non-GAAP financial information in public disclosures. We believe that our presentations of the following non-GAAP financial measures are important supplemental measures of operating performance to investors: earnings before interest, taxes, depreciation and amortization (EBITDA), Adjusted EBITDA, EBITDAR (EBITDA further adjusted for rent expense associated with a master lease), Adjusted EBITDAR, Adjusted Earnings and Adjusted Earnings Per Share (Adjusted EPS). The following discussion defines these terms and why we believe they are useful measures of our performance. We do not provide a reconciliation of forward-looking non-GAAP financial measures to the corresponding forward-looking GAAP measure due to our inability to project special charges and certain expenses.

EBITDA, Adjusted EBITDA, EBITDAR and Adjusted EBITDAR

EBITDA and EBITDAR are commonly used measures of performance in our industry that we believe, when considered with measures calculated in accordance with accounting principles generally accepted in the United States (“GAAP”), provide our investors a more complete understanding of our operating results before the impact of investing and financing transactions and income taxes and facilitates comparisons between us and our competitors. Management has historically adjusted EBITDA and EBITDAR when evaluating operating performance because we believe that the inclusion or exclusion of certain recurring and non-recurring items is necessary to provide a full understanding of our core operating results and as a means to evaluate period-to-period results. We refer to this measure as Adjusted EBITDA or Adjusted EBITDAR. We have chosen to provide this information to investors to enable them to perform comparisons of past, present and future operating results and as a means to evaluate the results of core on-going operations. We have historically reported these measures to our investors and believe that the continued inclusion of Adjusted EBITDA and Adjusted EBITDAR provides consistency in our financial reporting. We use Adjusted EBITDA and Adjusted EBITDAR in this press release because we believe this information is useful to investors in allowing greater transparency related to significant measures used by our management in their financial and operational decision-making. Adjusted EBITDA and Adjusted EBITDAR are among the more significant factors in management’s internal evaluation of total company and individual property performance and in the evaluation of incentive compensation related to property management. Management also uses Adjusted EBITDA and Adjusted EBITDAR as measures in the evaluation of potential acquisitions and dispositions. Adjusted EBITDA and Adjusted EBITDAR are also used by management in the annual budget process. Externally, we believe these measures continue to be used by investors in their assessment of our operating performance and the valuation of our company. Adjusted EBITDA reflects EBITDA adjusted for deferred rent, share-based compensation expense, project development, preopening and writedown expenses, impairments of assets, loss on early extinguishments and modifications of debt and other operating items, net. Adjusted EBITDAR reflects Adjusted EBITDA further adjusted for rent expense associated with a master lease with a real estate investment trust.

Adjusted Earnings and Adjusted EPS

Adjusted Earnings is net income before project development, preopening and writedown expenses, impairments of assets, other items, net, gain or loss on early extinguishments and modifications of debt, other non-recurring adjustments, net, and income from discontinued operations, net of tax. Adjusted Earnings and Adjusted EPS are presented solely as supplemental disclosures because management believes that they are widely used measures of performance in the gaming industry.

Limitations on the Use of Non-GAAP Measures

The use of EBITDA, Adjusted EBITDA, EBITDAR, Adjusted EBITDAR, Adjusted Earnings, Adjusted EPS and certain other non-GAAP financial measures has certain limitations. Our presentation of EBITDA, Adjusted EBITDA, EBITDAR, Adjusted EBITDAR, Adjusted Earnings, Adjusted EPS or certain other non-GAAP financial measures may be different from the presentation used by other companies and therefore comparability may be limited. Depreciation and amortization expense, interest expense, income taxes and other items have been and will be incurred and are not reflected in the presentation of EBITDA, Adjusted EBITDA, EBITDAR and Adjusted EBITDAR. Each of these items should also be considered in the overall evaluation of our results. Additionally, EBITDA, Adjusted EBITDA, EBITDAR and Adjusted EBITDAR do not consider capital expenditures and other investing activities and should not be considered as a measure of our liquidity. We compensate for these limitations by providing the relevant disclosure of our depreciation and amortization, interest and income taxes, capital expenditures and other items both in our reconciliations to the historical GAAP financial measures and in our consolidated financial statements, all of which should be considered when evaluating our performance.

EBITDA, Adjusted EBITDA, EBITDAR, Adjusted EBITDAR, Adjusted Earnings, Adjusted EPS and certain other non-GAAP financial measures are used in addition to and in conjunction with results presented in accordance with GAAP. EBITDA, Adjusted EBITDA, EBITDAR, Adjusted EBITDAR, Adjusted Earnings, Adjusted EPS and certain other non-GAAP financial measures should not be considered as an alternative to net income, operating income, or any other operating performance measure prescribed by GAAP, nor should these measures be relied upon to the exclusion of GAAP financial measures. EBITDA, Adjusted EBITDA, EBITDAR, Adjusted EBITDAR, Adjusted Earnings, Adjusted EPS and certain other non-GAAP financial measures reflect additional ways of viewing our operations that we believe, when viewed with our GAAP results and the reconciliations to the corresponding historical GAAP financial measures, provide a more complete understanding of factors and trends affecting our business than could be obtained absent this disclosure. Management strongly encourages investors to review our financial information in its entirety and not to rely on a single financial measure.

Forward-looking Statements and Company Information

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements contain words such as “may,” “will,” “might,” “expect,” “believe,” “anticipate,” “could,” “would,” “estimate,” “continue,” “pursue,” or the negative thereof or comparable terminology, and may include (without limitation) information regarding the Company’s expectations, goals or intentions regarding future performance. In addition, forward-looking statements in this press release include statements regarding: the benefits from the Company’s recently completed acquisitions of six new assets and the strategic partnership with FanDuel Group, progress in positioning the Company to keep creating long-term shareholder value, executing on the Company’s capital allocation program, progress on its strategic plan, and the overall direction of the Company, continuing to create significant shareholder value, and all of the statements under the heading “Full-Year 2019 Guidance.” Forward-looking statements involve certain risks and uncertainties, and actual results may differ materially from those discussed in any such statement. These risks and uncertainties include, but are not limited to: fluctuations in the Company’s operating results; recovery of its properties in various markets; the political climate and its effects on consumer spending and its impact on the travel industry; the state of the economy and its effect on consumer spending and the Company’s results of operations; the timing for economic recovery, its effect on the Company’s business and the local economies where the Company’s properties are located; the receipt of legislative, and other state, federal and local approvals for the Company’s development projects; whether online gaming will become legalized in various states, the Company’s ability to operate online gaming profitably, or otherwise; consumer reaction to fluctuations in the stock market and economic factors; the fact that the Company’s expansion, development and renovation projects (including enhancements to improve property performance) are subject to many risks inherent in expansion, development or construction of a new or existing project; the effects of events adversely impacting the economy or the regions from which the Company draws a significant percentage of its customers; competition; litigation; financial community and rating agency perceptions of the Company and its subsidiaries; changes in laws and regulations, including increased taxes; the availability and price of energy, weather, regulation, economic, credit and capital market conditions; and the effects of war, terrorist or similar activity. Additional factors that could cause actual results to differ are discussed under the heading “Risk Factors” and in other sections of the Company’s Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q, and in the Company’s other current and periodic reports filed from time to time with the SEC. All forward-looking statements in this press release are made as of the date hereof, based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward-looking statement.

About Boyd Gaming:
Founded in 1975, Boyd Gaming Corporation (NYSE: BYD) is a leading geographically diversified operator of 29 gaming entertainment properties in 10 states. The Company currently operates 1.76 million square feet of casino space, approximately 38,000 gaming machines, 900 table games, more than 11,000 hotel rooms, and 320 food and beverage outlets. With one of the most experienced leadership teams in the casino industry, Boyd Gaming prides itself on offering its guests an outstanding entertainment experience, delivered with unwavering attention to customer service.

Source: Boyd Gaming Corporation

Gambling in the USA

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

Published

22 hours 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

4 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.