Former customers of Atlantic City's Revel voiced complaints about the NJ casino's glaring weaknesses in hopes Ocean Resort Casino owners are listening.
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Award-winning slots specialist Play’n GO deals with Logrand Entertainment Group to supply its full suite of games to Mexican operator. Right now the operator runs 14 casinos across Mexico and earlier this month it announced it would be launching its new interactive division, Strendus. As Play’n GO deals with Logrand, Play’n GO will continue its global expansion, with its first ...
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Australian-listed casino operator Crown Resorts Ltd. has completed the disposal of its US$300 million Las Vegas assets as it completely shelves its global expansion plans.
In a regulatory filing, the James Packer-led firm announced that the sale of the 14-hectare vacant Las Vegas site to Wynn Resorts’ subsidiary Alon Las Vegas Resort LLC has finally been sealed.
After accounting for minority interests, Crown said its share of the proceeds will come to roughly $264 million.
The casino operator originally planned to construct a massive integrated resort called Alon on the Vegas land, but the company found itself unable to raise the necessary capital to make the $2 billion project fly. The 2016 arrests of Crown staff in China became the final nail in the project’s coffin, resulting in Packer conceding that his global expansion plans had failed.
Last year, Crown announced the sale of Alon as part of a $566.79 million package of asset sales in Australia and overseas.
Its divestments included the sale of around 4.2 million shares in gaming giant Caesars Entertainment Corporation and its 50 percent interest in the Packer family’s Ellerston property in the NSW Hunter Valley. Crown also agreed to dispose of its 62 percent interest in online sportsbook CrownBet to other shareholders.
TopBetta’s system, Ladbrokes Australia’s platform complete integration
In other news, Australian sports betting operator TopBetta has finally completed the technical integration of its Global Tote system within Ladbrokes Australia’s sports betting platform.
The company announced in a disclosure to the Australian Stock Exchange on Monday that the new system will pave the way for Ladbrokes Australia to take part on international greyhound and horse racing pool betting.
Ladbrokes Australia has secured the approval of several racing operators on the agreement that it entered with TopBetta, although the Northern Territory Racing Commission has yet to give its blessing.
In a statement, Ladbrokes’ CEO Jason Scott has assured investors that the company remains committed to work with The Global Tote and that it is prepared to “go live once the regulatory approval is confirmed.”
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Find SiGMA at ICE Totally Gaming! ICE Totally Gaming is on the books for 6-8 February 2018, and SiGMA is attending in force. The 2017 edition registered upwards of 30,000 in attendance, and cemented the show’s reputation further. ICE is known for its product launches, and as a showcase for innovation in general. ICE VOX, which will replace ICE Conferences, ...
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Casino operator Wynn Resorts is finding no safe place to hide from the bombshell sexual harassment allegations leveled against boss Steve Wynn on Friday.
Wynn Resorts shares fell 9.3% on Monday, after shedding nearly 10% on Friday, the day the Wall Street Journal reported claims of decades’ worth of sexual impropriety by Steve Wynn against multiple female members of Wynn Resorts staff. Both Steve and the company have vehemently denied the allegations.
The carnage wasn’t confined to American markets, as the company’s Wynn Macau offshoot saw its Hong Kong-listed shares fall 6.5% on Monday, the first opportunity the Asian market had to react since the story broke.
Adding urgency to the situation, Wynn’s Macau casino concession expires in 2022, and Steve had expressed optimism just last week that preliminary discussions with Macau government officials gave the company “reason to have confidence that our businesses will continue after the initial concession expiration date.”
On Monday, Bloomberg reported that Macau’s Gaming Inspection and Coordination Bureau (DICJ) had discussed the sexual allegations with Wynn management. Should the furor over the allegations persist, Wynn investors’ calls for Steve’s ouster could grow louder.
Monday also brought word that the Massachusetts Gaming Commission (MGC) has scheduled a public hearing on the allegations for Wednesday at 2pm. Wynn Resorts is building the $2.4b Wynn Boston Harbor integrated resort and the MGC announced this weekend that it had questions regarding the “suitability” of its newest casino licensee.
Spokesperson Elaine Driscoll issued a statement saying the MGC’s Investigations and Enforcement Bureau “immediately initiated a review of this matter to assess implications for ongoing suitability,” and the hearing will allow the Bureau to update the MGC on its progress. Driscoll said the MGC was “profoundly aware of the gravity of this matter and will proceed with the appropriate sense of urgency and rigor.”
Wynn is facing a similar investigation by the Nevada Gaming Control Board, as well as an internal probe by independent members of Wynn’s board of directors.
On Saturday, Steve resigned as finance chair of the Republican National Committee (RNC). Steve has been among the GOP’s top financial donors – contributing $2.4m since 2013 – but the allegations have sparked bipartisan calls for the RNC to return Steve’s donations.
On Monday, the Associated Press reported that Republican Senator Dean Heller from Wynn’s home state of Nevada plans to donate the $5,400 his re-election campaign received from Wynn last year to an unspecified charity. In Ohio, GOP Sen. Rob Portman is donating the $5,400 he received from Wynn to charities fighting human sex-trafficking.
The Republic Governors Association (RGA) announced Monday that it was returning $100k it had received from Wynn during the current election cycle. The RGA will also refuse future Wynn donations and is scuttling plans to hold a 2020 conference at Wynn Las Vegas.
Steve Wynn may yet survive this episode, but his bankroll has already taken a body blow. Steve holds 12.2m shares of Wynn Resorts, and the share price decline has reportedly cost him a paper loss of $462.5m since Friday. So much for that ‘happy ending,’ huh, Steve?
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Yggdrasil Gaming launches its spellbinding new game, Ozwin’s Jackpots slot. The new five-reel, 20-payline Ozwin’s Jackpots slot sees Ozwin’s trusty apprentice weave spells in an attempt to turn the mighty magician into his human shape, all in exchange for big wins. During the gameplay, players collect crystals to restore the orbs of power and take a shot at five different ...
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Sexual harassment allegations have prompted Wynn Resorts CEO Steve Wynn to resign as the Republican party’s main money man.
On Saturday, Republic National Committee (RNC) chairperson Ronna Romney-McDaniel confirmed that she’d accepted Steve Wynn’s resignation as the RNC’s finance chair. The announcement came one day after media reports of multiple female staffers accusing Wynn of decades’ worth of sexual impropriety.
Wynn, who has been among the Republic party’s leading financial donors in recent years, was appointed to the RNC role in January 2017, shortly after Donald Trump was sworn in as the new President of the United States.
McDaniel’s statement made no mention of the allegations facing Wynn, but Steve issued a statement on Saturday saying “the work [the RNC] are doing to make America a better place is too important to be impaired by this distraction.” Steve’s statement on Friday called the allegations against him “preposterous.”
Wynn Resorts’ stock shed 10% of its value on Friday, and the expectation is that Wynn Macau shares will undergo significant downward pressure when the Hong Kong exchange opens on Monday. Such a dip would spoil the momentum sparked by the stellar Q4 and FY17 results the company reported last week.
The allegations against Steve have sparked concern that he could be forced to step down as Wynn Resorts boss. The company formed a committee headed by Patricia Mulroy, a member of Wynn’s corporate governance compliance committee, to investigate the allegations against Steve. The Nevada Gaming Control Board is also “reviewing” the situation.
Should Steve be forced to step down, Wynn is moving from the frying pan to the fire. Steve has no clear successor, in part due to what has been described as a weak board of directors allowing Steve to concentrate power in his hands.
The allegations could also spark fallout in Massachusetts, home of the in-development $2.4b Wynn Boston Harbor integrated resort project. The Massachusetts Gaming Commission (MGC) issued a statement saying it was “now aware of and is taking very seriously the troubling allegations detailed in the Wall Street Journal article.”
The MGC’s decision to award Wynn the sole Boston-area casino license was controversial due to allegations of favoritism by MGC chairman Stephen Crosby. Rival Caesars Entertainment accused Crosby of making unfounded claims regarding Caesars’ regulatory unsuitability.
Crosby was ultimately cleared of wrongdoing but the issue of Wynn’s suitability is now on the table. The MGC’s weekend statement said assessing the suitability of its gaming licensees was “an active and ongoing process.”
Massachusetts Gov. Charlie Baker added his voice to the growing controversy, saying he was “deeply disturbed by these allegations and expects them to be taken seriously.” Baker said his administration “has a zero tolerance policy for sexual harassment.”
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Responsible Gambling & Anti-money laundering with Dan Iliovici (Romanian National Office of Gambling) and Alex Henderson (The Ritz Hotel Casino London). The leading boutique style gaming conference in Prague has announced more speaker profiles and it looks like the event will cover all hot topics of the industry. Responsible Gambling is among the most searched topics of the online and ...
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The ranks of Macau’s licensed casino junket operators underwent further contraction last year, but analysts believe the numbers will stabilize in 2018.
Figures released this week by Macau’s Gaming Inspection and Coordination Bureau (DICJ) show the number of licensed gaming promoters fell to 109 – 99 companies and 10 individuals – this month, a 13.5% decline from the 126 approved junkets in operation during January 2017.
The current figure is further removed from the 141 licensed junkets on the DICJ’s approved list in 2016 and a 57% reduction from the 253 promoters who were plying their trade in Macau in January 2013.
The fifth straight year of junket shrinkage is partly due to the DICJ imposing tighter financial benchmarks on the sector. Also, some smaller junkets threw in the towel during Macau’s two-year-plus gaming revenue decline that ended in August 2016, or allowed their operations to be acquired by larger, more stable junkets.
However, with the VIP gambling sector having reestablished itself as the engine of the Macau’s market’s overall growth last year, analysts believe 2018 may snap the five-year streak of shrinking junket numbers.
Kwok Chi Chung, president of Macau’s Association of Gaming and Entertainment Promoters, told GGRAsia that the junket sector was unlikely to undergo a “big change” this year. If there is further downward pressure, “it will not be to a great extent” due to the consolidation push having “largely stabilized.”
Andrew Lo Kai Bong, chief investment officer of the market-leading SunCity Group junket, echoed this view, saying Macau’s VIP sector “has already grown to such a large scale that it is not easy for any new startups to enter it.”
Macau’s government plans to amend its gaming laws this year to further increase junket oversight, reportedly including greater disclosure on shareholder structure and boosting minimum capital requirements.
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The complete history of $2.4 billion Revel Casino in New Jersey, which was supposed to revolutionize gambling in Atlantic City, but went belly up.
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Brazil’s renegade Winfil casino is once again taking real-money slots action, while everyone else is taking bets on how long the joint will be open before the cops close it down again.
On Wednesday, local media outlet Gauchazh reported that the Winfil casino in Porto Alegre had resumed real-money slots play. The paper reported that around 70 individuals were at Winfil late Monday night, feeding money into the casino’s slot machines.
This is the third time in four months that Winfil has launched real-money slots play, with both previous efforts ending in major police raids and the confiscation of most of the casino’s slot machines (and the cash inside those machines).
Until Brazilian legislators get their act together, casinos remain illegal in the country. However, Winfil originally claimed to have obtained a court ruling allowing it to switch from free-play ‘demonstration’ mode to the real thing, a belief that wasn’t shared by the judge who issued said ruling.
According to the Gauchazh report, Winfil attorney Laerte Luís Gschwenter claims to have been issued an injunction following the second raid in December that supports Winfil’s interpretation of the original court ruling. That’s news to the local police chief, who insists that “the law is still in force” and a third police action is imminent.
BRAZIL GAMBLING EXPANSION GETS MORE COMPLICATED
Brazilian legislators’ snail-like process of advancing their gambling expansion legislation faces no shortage of obstacles, including resolving the differences between the separate bills put forward by the Senate (PLS 186/2014) and the Chamber of Deputies (PL 442/1991).
The Senate’s version is the slightly more comprehensive plan, envisioning land-based casinos, online gambling and multiple other products, including the popular jogo de bicho lottery game. The Senate’s Constitutionality and Justice Committee (CCJ) is expected to vote on its bill when it holds its first meeting of the year on February 21.
The Chamber’s bill also involves a number of gambling verticals, although its online component is a somewhat sketchy reference to ‘electronic bets.’ However, last December, Chamber of Deputies President Rodrigo Maia expressed a preference to strip the bill of everything but major land-based casinos, claiming they are the only gambling product that would boost international tourism.
Last week, Maia was in Washington, DC, where he repeated his casino-only sentiments, as well as his desire to toughen penalties on non-approved forms of gambling. Maia appeared to dismiss the possibility of advancing the current version of the Chamber’s legislation, primarily because it “blends everything.”
Maia nonetheless expressed optimism that the two bills could be merged and voted on by both legislative bodies by mid-year. Meanwhile, a small but vocal faction in Brazil has attempted to build support for Maia’s casino-only vision, which could further complicate this already torturous process.
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Philippine-listed casino operator Bloomberry Resorts and Hotel Inc. has come up with a way to entice new players to gamble in its integrated resort while retaining their loyal patrons.
Bloomberry announced on Wednesday that it will reward loyal patrons of Solaire Resort and Casino with company stock as it tries to fend off competition posed by other integrated resorts in the Manila Bay entertainment district.
In a regulatory filing, Bloomberry said that it purchased 382,900 shares valued at PHP4.24 million ($83,000) for its marketing program.
“The board of directors of Bloomberry Resorts & Hotels Inc. (BRHI) in a board resolution dated 22 January 2018 authorized the Company to purchase up to two million (2,000,000) shares of Bloomberry Resorts Corporation (BRC) through the Stock Market at market price,” Bloomberry said.“These shares shall be given as a reward to Solaire’s loyal patrons and as part of Solaire’s marketing program.”
2017 was a banner year for the casino operator, which made PHP5.91 billion ($116.3 million) from January to September, almost four times higher than its earnings in the same period of 2016. Shares of Bloomberry was also up 8.09 percent after Thursday’s trading.
Bloomberry Chairman and Chief Executive Officer Enrique Razon said the increase in attributable profit is driven by the strong growth in both mass and VIP plays.
PAGCOR, Philippine authorities to sanction government workers who gamble in casinos
In other news, state-run Philippine Amusement and Gaming Corporation (PAGCOR) warned government officials and employees to stay out of casinos and other gambling facilities if they don’t want to get arrested and charged.
PAGCOR chair Andrea Domingo and Philippine National Police on Wednesday unveiled a signage inside Solaire, saying “No Government Official Allowed to Gamble.”
Domingo said similar warning signs were put up in other casinos nationwide, including other top gambling destinations like Resorts World Manila, Okada, City of Dreams and Pavilion Hotel.
Philippine Presidential Decree No. 1067-B, as amended by PD 1869, bans all government officials connected directly with the operation of the government or any of its agencies and members of the Philippine National Police and the Armed Forces of the Philippines from staying or playing in casinos, although PAGCOR has allowed some prominent government officials to play in casinos in the past years despite the ban.
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The iGathering have become a staple on Malta’s iGaming calendar, a sign of SiGMA’s year-round commitment to the industry. Over the previous editions guests have really been treated to some of the finest dining extant, and the experience is only getting better with successive editions of the event. The purpose of the iGathering is to expose the movers and the ...
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As the five-year anniversary nears, we look back at the successes for NJ's online gambling bill after it was signed into law by then-Gov. Chris Christie.
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Casinos in Macau and the United States held emergency response drills this week to gauge their ability to handle situations like last year’s mass shooting incident in Las Vegas.
In the wee hours of Monday morning, Galaxy Entertainment Group’s flagship Galaxy Macau resort staged a scenario in which four men acted as knife-wielding robbers who attacked several casino guests, then held them hostage while pretending to plant a suspected explosive device.
Casino security and police helped evacuate the resort’s other guests and attended to the ‘injured’ until the bomb squad could arrive. Mediators negotiated with the ‘suspects’ but this was apparently a ruse, as Special Operations Group agents closed in and rescued the ‘hostages.’
Over 350 individuals and nine entities – including the Judiciary Police, Public Security Police and the Gaming Inspection and Coordination Bureau – took part in the ‘Wolf Hunting’ simulation, which was intended to determine how well the government and private sector firms cooperated in an emergency.
The test, the first of several scheduled for this year, was ultimately deemed a success. Macau authorities announced plans for a series of terror drills last October, just weeks after a gunman opened fire on a Las Vegas outdoor concert, resulting in 59 fatalities. Several months earlier, a gunman set fires inside Resorts World Manila, resulting in 37 fatalities.
Vegas casinos also conducted security reviews in the wake of October’s mass shooting, but the concerns weren’t limited to Nevada. On Monday, Connecticut’s Foxwoods Resort Casino staged an active shooter exercise – using replica firearms – in a cordoned-off poker room that involved over 50 officers from the Mashantucket Police Department and other regional authorities.
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The leading boutique style gaming conference in Prague is already seeing a large volume of registrations and the organizers are optimistic about the 2018 edition as well. The list of Prague Gaming Summit 2018’s speakers includes Michal Shinitzky, Max Krupyshev and Dr. Robert Skalina. If you study the event’s agenda, you will find some interesting panel style talks that are ...
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A group of 10 NJ lawmakers sent a letter to the DOJ asking the department to uphold their 2011 Wire Act decision that legalized online gambling sites.
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Kindred Group goes live with Nolimit city games via Relax Gaming platform. After a strong 2017, Nolimit city starts the new year with a successful launch following finalising integration work with the renowned platform and games provider, Relax Gaming. As Kindred Group goes live with Nolimit city games, Nolimit city will celebrate the first of many releases via the joint ...
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Casino revenues across Mississippi dropped by 2 percent in 2017, after 16 riverboat casinos extended their losing streak last year.
The Clarion-Ledger reported that the statewide casino revenue declined to $2.08 billion from $2.12 billion after seeing profit decline across the state’s 16 floating casinos.
Data from the State Revenue Department showed that revenues for the floating casinos dipped to $885 million, while casino revenue in Tunica County and Lula were hit by increasing competition from two Arkansas racetrack casinos.
The only silver lining for Mississippi were the 12 coastal casinos, which eked out a 1 percent revenue gain to $1.19 billion. This was the fourth consecutive gain for the coastal casinos.
Mississippi, the sixth largest gambling state nationwide, earned around $250 million in gambling taxes in 2017.
Suggestions pour in for new Revel casino
Concerned former Revel customers have stepped forward to help the Atlantic City casino get back on its feet.
The Associated Press recently conducted a survey on how Colorado developer Bruce Deifeik, who recently bought the $118 million shuttered property from Glenn Straub, would be able to steer the rebranded Ocean Resort Casino to profitability.
Former customers pointed out the casino layout wasn’t really inviting. Case in point was the grand escalator that connected the ground floor to the casino level, which most customers said failed to provide a spectacular entrance experience.
Other issues included the smoking ban and overzealous security personnel, which customers said made them stay away from casino. Of the 12 casinos in Atlantic City, only Revel prohibited customers from smoking indoors.
The news outlet found that in terms of food, most customers preferred the buffet over celebrity restaurants. One of the mistakes that Revel did was to market the casino for luxury tourists and high rollers instead of hosting bus excursions for day-tripping gamblers, only to realize later that luxury customers were very rare in Atlantic City.
Customers would also love for the new Ocean Resort Casino to give generous retail offers to welcome guests from all walks of life, according to the report.
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The biggest piece of property that Glenn Straub owned in Atlantic City -- the former Revel/TEN -- is no longer his. But he still owns property in town.
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Leading online and mobile casino content provider, iSoftBet deals with BtoBet and continues to execute on its international expansion plan. As iSoftBet deals with BtoBet, the company will be able to enter markets in Africa and Latin America for the very first time. Since iSoftBet deals with BtoBet, an award-winning multi-national technology provider BtoBet, iSoftBet will be integrating its entire ...
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