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Play’n GO partners with RoyalCasino.dk
Sunday, November 25, 2018
Play’n GO partners with RoyalCasino.dk
Saturday, November 24, 2018
Crystal Rift video slot unearthed by Microgaming
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Crystal Rift video slot unearthed by Microgaming
Atlantic City casino profits tumble after new venues launch
Casino – CalvinAyre.com
Atlantic City casino profits tumble after new venues launch
Atlantic City casinos posted double-digit profit declines in the third quarter of 2018, as the market’s two new gaming venues cut into the other seven’s bottom lines.
Figures released Friday by the New Jersey Division of Gaming Enforcement (DGE) show Atlantic City’s nine casinos generated net revenue of $920m in the three months ending September 30, a 17.8% rise over the same period last year. For the year-to-date, revenue is up 6.4% to $2.2b.
However, the gross operating profit of these nine venues totaled $213.7m in Q3, a 15.3% year-on-year decline. The figure is only slightly better on the year-to-date front, in which profits fell 9.3% to $508.7m.
The late-June openings of two new AC venues – Hard Rock Atlantic City and the Ocean Resort Casino – clearly impacted the Q3 figures, as the two properties generated combined revenue of $178.5m. Their profits were miniscule — $8.2m for Hard Rock and $1.4m for ORC – as startup costs will have kept a lid on black ink.
Of the ‘original’ seven properties, none of them posted revenue gains in Q3, while only two reported increased profits. The Golden Nugget’s profits were up 6.6% to $13.6m, although this was at least partially due to the property’s market-leading online casino operation. The other profit gainer, Bally’s, barely qualified for that designation, rising only 0.5% to $18.4m.
In percentage terms, the Tropicana suffered the biggest profit decline, falling 31.1% to $31.8m, while the market-leading Borgata was down 21.7% to $63.2m.
Even the online-only operations of Caesars Interactive Entertainment New Jersey and Resorts Digital were in negative profit territory in Q3. Actually, seriously negative, as CIENJ’s revenue fell 10.5% while profit tumbled 69.4%. Resorts Digital fared even worse, with revenue down 51.4% and profit sliding 83.3%, even as the state’s overall online market continued to post solid numbers during the period.
The numbers are a far cry from Q3 2017’s results, which saw profit shoot up 17.6% despite a modest revenue dip, and that dip was due to the soon-to-be-closed Trump Taj Mahal reducing its operations as its closing date drew nearer.
At the time, the fact that AC’s market had seen five casinos close in rapid succession was described as the market’s ‘right-sizing,’ although that narrative suffered a hiccup when Q1 2018’s profits fell 11.7%. However, Q1 saw the region suffer a string of winter storms that kept customers at home, a phenomenon that clearly wasn’t at play in Q3. Moreover, Q2’s profit decline was a more modest 4.6%.
While the market’s hotel occupancy over the first nine months of 2018 was down 5.1 points to 84.1%, at least part of the profit decline is likely due to all operators having to step up their marketing game in the wake of shiny new competition.
The question that hung over the launch of AC’s new properties was whether they could grow the overall financial pie or just nibble away at the seven ‘original’ properties’ slices. Revenue is clearly growing, although some of that growth is goosed by the state’s new legal sports betting options, and it remains to be seen whether the market as a whole will continue to suffer from having two extra mouths to feed.
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Nevada regulators approve deal with sportsbook operator
Las Vegas Sun Stories: Gaming
Nevada regulators approve deal with sportsbook operator
Nevada gambling regulators have approved a settlement with a troubled sportsbook operator that has admitted to taking unlawful bets and making inaccurate payouts. The Nevada ...
Friday, November 23, 2018
Traffic Label Launches Affiliate Programme with Income Access for SlotsAffiliates.com
Casino News Today
Traffic Label Launches Affiliate Programme with Income Access for SlotsAffiliates.com
Traffic Label, a UK-based firm specialising in the development of comprehensive marketing strategies, has announced the launch of an affiliate programme for its SlotsAffiliates.com network with Income Access, Paysafe’s marketing technology and services provider. Through its integration with Income Access’ affiliate software platform, SlotsAffiliates.com will look to optimise growth and acquisitions across its six network brands. SlotsAffiliates.com was launched in ...
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Resorts Casino Unveils New Permanent DraftKings Sportsbook In Atlantic City
Resorts Casino Unveils New Permanent DraftKings Sportsbook In Atlantic City
The king of NJ online sports betting, DraftKings Sportsbook, opened up a new permanent retail sportsbook location inside Resorts Casino in Atlantic City.
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Diamond Fortune to open Primorye casino in 2020
Casino News – Focus Gaming News
Diamond Fortune to open Primorye casino in 2020
The company revealed that the first phase of the property should be ready to open in September 2020.
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PAGCOR official drops Wynn Macau lawsuit appeal, might sue in US
Casino – CalvinAyre.com
PAGCOR official drops Wynn Macau lawsuit appeal, might sue in US
This past May, Rogello Bangsil submitted a lawsuit in Macau against Wynn Resorts, operator of Wynn Macau, alleging that the company had distributed his personal information with others. The former executive with the Philippine Amusement and Gaming Corp (PAGCOR) lost the case in July and asserted that he would file an appeal. It now appears that Bangsil has changed his mind 
and won’t move forward with the appeal. He might, however, decide to try to fight his battle in the U.S. court system.
In an exclusive report by the Macau News Agency, Bangsil is not going to follow through with an appeal of the verdict that was handed down by the Court of First Appeal in the case, which sided with Wynn Resorts. He explained that the decision was based on the fact that the legal fees associated with an appeal would have been too much of a burden.
As a PAGCOR officer in charge of gaming, Bangsil and his wife found both of their names listed on an FBI report from 2011 that dealt with an “improper relationship” that revolved around several PAGCOR officials and Kazuo Okada, then a shareholder in Wynn Resorts. Bangsil unsuccessfully argued that, per the Office for Personal Data Protection (OPDP), Wynn Macau had illegally provided the names to Wynn Resorts. The OPDP had recognized that information was shared and fined Wynn Macau $2,500.
Bangsil sued for $1.2 million in 2014, but lost the case. It only lasted across three hearings, but apparently that was enough for the courts to decide the outcome, which determined that Bangsil had not been able to prove that he didn’t offer the information voluntarily. He had between 30 to 40 days to file an appeal, but that timeframe has already passed.
The former executive asserts that he was not able to properly argue his case due, in part, to “faulty” Chinese to English translations. As such, he might take his case to the U.S. He stated, “Since in my case the violation was actually done in the U.S., I may have better chances of getting justice there. I’m consulting now with U.S. lawyers to file the case there.”
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Thursday, November 22, 2018
Betsoft Gaming to Release Chillipop Slot Next Week
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Betsoft Gaming to Release Chillipop Slot Next Week
SiGMA 2018 launches in 1 week
Casino News Today
SiGMA 2018 launches in 1 week
As a well-established staple on the iGaming calendar, it is unsurprising that the interest from the iGaming industry has been intense. In 1 week time the super-show plans to welcome 12,500 guests, including 400 sponsors and exhibitors and 200 speakers through its doors. To keep pace with demand, the sold-out MFCC floor space has been expanded and an extra day ...
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Mississippi casinos report revenue rise
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Mississippi casinos report revenue rise
The facilities in the state experienced a strong October, but sports betting win was less than 1%.
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Oaklawn Racing and Gaming announces $100 million expansion
World Casino News
Oaklawn Racing and Gaming announces $100 million expansion
Wednesday, November 21, 2018
Hitting Paydirt: Giving Thanks During NFL Week 12 With DraftKings Sportsbook
Hitting Paydirt: Giving Thanks During NFL Week 12 With DraftKings Sportsbook
DraftKings Sportsbook looks in on the upcoming NFL Week 12 games on Thanksgiving. The NJ sports betting site has a few lines and odds to consider.
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MGM China to grow in 2019
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MGM China to grow in 2019
According to brokerage Nomura, the casino operator will increase its share of the city’s market despite an overal GGR contraction in Macau.
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Wazdan shortlisted for Malta Gaming Awards
Casino News Today
Wazdan shortlisted for Malta Gaming Awards
Innovative slots-maker Wazdan has been shortlisted for the Malta Gaming Awards in the Games Vendor category. Wazdan have gathered a lot of interest around them this year due to numerous nominations, shortlistings and awards. The company took the prestigious ‘Online Casino Innovator Award 2018’ at the Central and Eastern Europe Gaming Conference (CEEGC) held in Budapest as well as the ...
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Imperial Pacific resumes operations
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Imperial Pacific resumes operations
The casino resumed operations after it had closed for two days due to Tryphoon Yutu.
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Tuesday, November 20, 2018
DraftKings Sportsbook’s $60 Free Bet Is The Best Thing Since Apple Pie
DraftKings Sportsbook’s $60 Free Bet Is The Best Thing Since Apple Pie
DraftKings Sportsbook offers new players an exclusive $60 in free bets just for signing up, no deposit required. The limited time offer ends Nov. 26!
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Nominations are open for BSG Awards 2019 Vilnius
Casino News Today
Nominations are open for BSG Awards 2019 Vilnius
Nominations are open for the Baltic and Scandinavian Gaming Awards (BSG Awards 2019 Vilnius). The team at European Gaming Media and Events has announced the launch of the inaugural BSG Awards. The BSG Awards stands for Baltic and Scandinavian Gaming Awards and will recognize highly ranked, trustworthy, hard-working companies for their respective field of activity in the the online gambling ...
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MGM, Wynn tamp down Boston casino intrigue
Las Vegas Sun Stories: Gaming
MGM, Wynn tamp down Boston casino intrigue
Executives for MGM and Wynn are tamping down speculation the companies are quietly in talks over Wynn's Boston-area casino. MGM Resorts International CEO Jim Murren said today it would have to be an "extremely unique situation" for officials to ...
Microgaming starts a new era of prestige table games with Switch Studios
Casino News Today
Microgaming starts a new era of prestige table games with Switch Studios
Microgaming is to shake up the table games vertical with Switch Studios, a new independent game studio that will develop content exclusively for the online gaming supplier. Based in Ipswich, UK, the close-knit group of online gambling and social gaming experts are driven by a collective passion for games and building dynamic features with the latest technology to personalise gameplay. ...
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Monday, November 19, 2018
DraftKings And Kambi Ready To Unveil Retail Space At Resorts On Tuesday
DraftKings And Kambi Ready To Unveil Retail Space At Resorts On Tuesday
DraftKings Sportsbook at Resorts Atlantic City is scheduled to open at 11 a.m. Tuesday, but the new NJ sports betting space will be powered by Kambi.
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Nordic gamers now have access to 3,000 slot machine variants via SlotsMillion
World Casino News
Nordic gamers now have access to 3,000 slot machine variants via SlotsMillion
Imperial Pacific reopens casino
Casino – CalvinAyre.com
Imperial Pacific reopens casino
Imperial Pacific International Holdings Limited (IPI) resumed operations of its Saipan casino last Sunday, just two days after closing its doors in the wake of Super Typhoon Yutu.
It made the announcement in a filing with the Hong Kong Stock Exchange.
The casino was closed last Friday, because according to IPI, the closing of the island’s international airport had “put a complete halt to the tourism industry.” Saipan International Airport had been damaged by the storm when it hit late October, and only emergency operations, in particular, the provision of relief goods by the military, were allowed.
Because the company “did not want to continue to keep casino open by attracting only residents,” and that there were “millions of dollars in unexpected damage” that required repairs, it decided to close the casino late last week.
Even with the reopening, IPI has said that it would take “several weeks” before things return to normal, due to continued limited entry of tourists to patronize the establishments.
The Saipan Tribune cited sources that said operations will be limited to one shift, with the casino being open only from 6 p.m. to 2 a.m., until the situation normalizes. The news outlet also said that regular daytime flights have already resumed, with regular nighttime flights expected to resume tomorrow.
Completion of the construction of the resort’s hotel, which has been delayed several times, was most recently set to sometime in 2020.
Earlier this month, IPI announced the launch of a bond placement in order to raise $38.3 million, to be used “for general corporate purposes.”
The company recently reacted to a rumor of its going bankrupt, which it said was “completely baseless and untrue,” and that it was going to take “legal action against the original online source spreading slanderous fake news.”
Revenue for the company for the first half of the year was $281.6 million, 51% lower year on year. Earnings were 72.2% lower than the first half of 2017, at $57.8 million, while it made a profit of $10.1 million.
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Crown’s shares drop cuts Packer’s wealth by over $600M
Casino – CalvinAyre.com
Crown’s shares drop cuts Packer’s wealth by over $600M
Crown Resorts has watched as its stock price has slid almost 20% since about the middle of August. One of Australia’s wealthiest men, James Packer, has had to watch, as well, as his wealth has been sliced by over A$824 million (US$602 million) as a result.
Packer is the former executive chairman of Crown Resorts. The company’s stock has dropped on investor concern over a downturn in the high-roller Chinese gambler market, which is withdrawing in the face of the ongoing U.S.-China trade war and a slowing economy. Packer, through Consolidated Press Holdings, holds 46% of the company, now valued at A$3.7 billion (US$2.7 billion).
Crown operates resorts and casinos in Perth and Melbourne and isn’t the only company to suffer from the recent decline. Star Entertainment, a rival to the company, has seen its shares fall 21% since the beginning of September.
Macau has been caught up in the war, as well. Wynn Resorts, which has over 70% of its revenue come out of the city, reported a 15% drop in it price and led to the company’s CEO, Matt Maddox, assert, “What we’ve seen more recently is murky. Since Golden Week we’ve noticed that during the mid-week it’s been quite choppy and the weekends have been sporadic.”
The decline across the region has many operators worried and is forcing them to be creative. Star recently launched a marketing campaign to attract more Asian gamblers that includes participation the popular Asian social media platform WeChat, as well as the company’s name being displayed in Chinese.
Crown has been trying to rebuild its business following the arrest of several employees in China in 2016, as well as the announcement that Packer would step down at the beginning of the year over mental health issues. It’s been a tough year for the company and gains haven’t been what most expected. VIP turnover, according to its most recent update, had increased by 13%, but had been expected to increase by 28%.
Things could improve, however, as Crown’s resort project in Sydney begins to take shape. If it goes according to plan, Goldman Sachs analyst Nick Basile says that the resort could generate as much as US$8.9 million in table revenues and around US$13.1 billion in VIP turnover after the venue is completed in 2021.
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Sunday, November 18, 2018
HyperCasino set to launch soon
World Casino News
HyperCasino set to launch soon
Nevada regulators approve deal with sportsbook operator
Las Vegas Sun Stories: Gaming
Nevada regulators approve deal with sportsbook operator
Nevada gambling regulators have approved a settlement with a troubled sportsbook operator that has admitted to taking unlawful bets and making inaccurate payouts. The Nevada ...
Saturday, November 17, 2018
Atlantic City Casinos Boast Another Good Month Of NJ Gambling Revenue
Atlantic City Casinos Boast Another Good Month Of NJ Gambling Revenue
Atlantic City casinos brought in $239.1 million total revenue in October, a 15.8 percent increase over last year's figure of $206.4 million.
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Microgaming heralds new Switch Studios partnership
World Casino News
Microgaming heralds new Switch Studios partnership
MGM, Wynn tamp down Boston casino intrigue
Las Vegas Sun Stories: Gaming
MGM, Wynn tamp down Boston casino intrigue
Executives for MGM and Wynn are tamping down speculation the companies are quietly in talks over Wynn's Boston-area casino. MGM Resorts International CEO Jim Murren said today it would have to be an "extremely unique situation" for officials to ...
Cascades Casino Delta receives final regulatory approval
World Casino News
Cascades Casino Delta receives final regulatory approval
Friday, November 16, 2018
Harrah’s Resort AC announced renovations
Casino News – Focus Gaming News
Harrah’s Resort AC announced renovations
The Atlantic City facility announced plans for its US$56 million Coastal Tower, to be unveiled in early 2019.
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Yggdrasil Gaming’s Nitro Circus slot game launched
Casino News Today
Yggdrasil Gaming’s Nitro Circus slot game launched
Popular iGaming supplier Yggdrasil Gaming has released its first ever branded slot – Nitro Circus, an adrenaline-fuelled game featuring Nitro Circus’ biggest stars, greatest stunts and craziest vehicles. Nitro Circus, the world’s premier action sports entertainment brand is led by the legendary action sports athlete, motorsports competitor and stunt daredevil, Travis Pastrana. Yggdrasil’s new exclusive Nitro Circus slot brings the ...
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BCLC approves Gateway casino in Delta
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BCLC approves Gateway casino in Delta
The Delta Cascades Casino project has been approved by British Columbia’s gambling regulator.
The post BCLC approves Gateway casino in Delta appeared first on Focus Gaming News.
Thursday, November 15, 2018
NJ Online Gambling, Golden Nugget Shatter Revenue Records In October
NJ Online Gambling, Golden Nugget Shatter Revenue Records In October
NJ online gambling revenue hit $26.8M, beating the previous online casino record of $25.9M in July. The champion Golden Nugget inched close to $10M.
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Imperial Pacific shuts casino “until further notice” after storm
Casino – CalvinAyre.com
Imperial Pacific shuts casino “until further notice” after storm
Saipan casino operator Imperial Pacific International (IPI) is temporarily closing its venue after a tropical storm damaged the island’s international airport.
In late October, Super Typhoon Yutu hit the US Commonwealth of the Northern Mariana Islands (CNMI), killing two local residents and destroying thousands of homes. The Saipan International Airport also suffered extensive damage and inbound traffic was restricted to humanitarian aid flights.
On Thursday, the Marianas Variety quoted IPI saying it would close its Imperial Pacific Resort on Friday “until further notice” because the airport’s closure has “put a complete halt to the tourism industry.”
IPI said the airport “is scheduled to resume normal operations soon,” but the company believes it will likely be “several weeks” before normality actually returns. CNMI officials said Thursday that the airport had resumed a limited number of international tourist arrivals from sunrise to sunset and hoped to restore full functionality by November 20.
Saipan’s geographic isolation and miniscule population means IPI relies almost entirely on a steady influx of foreign high-rollers to keep its operations humming. The company said it decided that it “did not want to continue to keep casino open by attracting only [local] residents to patronize the casino.”
IPI says its venue also “suffered millions of dollars in unexpected damage” from the storm, necessitating repairs to safeguard employees and the contractors who are still finishing construction of the resort. The company originally decided to have “limited casino operations for two weeks” but now believes a total shutdown is one of the “steps the company must take to survive the unforeseeable business effects of this natural disaster.”
However justified, IPI’s announcement will likely only fuel the bankruptcy rumors that IPI was forced to publicly refute last week. The company has endured a seemingly endless streak of bad news, including massive writeoffs of uncollectable VIP gambling debts, disrupted payments to staff and contractors and a flurry of senior management resignations.
IPI opened its temporary Saipan casino in 2015, then transferred its operations to the still unfinished permanent resort last year. The company recently announced plans for a $38m bond placement to fund construction of its resort, and welcomed back former chairman Mark Brown to oversee completion of the construction.
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Your Guide To NJ Sports Betting As NFL And NBA Games Pick Up The Pace
Your Guide To NJ Sports Betting As NFL And NBA Games Pick Up The Pace
For now, there are 8 retail sportsbooks and 8 online sports betting apps in New Jersey. But NJ sports betting is just getting started.
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Wisconsin man wins $1.3 million at O’Sheas casino
Las Vegas Sun Stories: Gaming
Wisconsin man wins $1.3 million at O’Sheas casino
A Kenosha, Wis., man won more than $1.3 million over the weekend when he hit a royal flush while playing Three Card Poker Progressive at O’Sheas at ...
Wednesday, November 14, 2018
Wazdan launches Black Hawk Deluxe slot
Casino News Today
Wazdan launches Black Hawk Deluxe slot
Award-winning slots manufacturer Wazdan has launched another immersive HTML5 slots game with the memorable and familiar name Black Hawk Deluxe, which is the thrilling sequel to their incredibly popular Black Hawk. Set in the impressive haunted grounds of a spooky castle, this 4-reel, 3-column slot from the master games-maker includes a soundtrack to send shivers up the spine with rattling ...
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Penn National, VICI acquire Detroit’s Greektown casino
Casino – CalvinAyre.com
Penn National, VICI acquire Detroit’s Greektown casino
US regional casino operator Penn National Gaming (PNG) has teamed up with VICI Properties to acquire Detroit’s Greektown Casino.
In September, rumors flew that billionaire Dan Gilbert was looking to divest his stake in JACK Entertainment, which operates Greektown, one of only three commercial casinos in Detroit. On Wednesday, PNG confirmed that it had agreed to pay $300m to acquire the casino’s operations. The sale is expected to close in mid-2019, pending approval by the Michigan Gaming Control Board.
The agreement also involves the sale of Greektown’s real estate assets for $700m to VICI Properties, the real estate investment trust (REIT) that was spun off from casino operator Caesars Entertainment. VICI’s involvement in the deal was reported in September, leading to speculation that Caesars was the frontrunner to acquire Greektown’s operations.
As part of the deal, PNG will enter into a triple net lease agreement with VICI that requires PNG to pay around $55.6m in annual rent in each of the next 15 years. The lease agreement also contains four five-year renewal options.
This is the second deal that PNG and VICI have struck in recent months, following a similar split involving the Margaritaville Resort Casino in Louisiana in June.
PNG CEO Timothy Wilmott said the deal would “further expand Penn National’s already diverse operating base” while offering Greektown customers the benefits of PNG’s geographic diversity. The addition of Greektown brings PNG’s total property count to 41 venues, following last month’s completion of the Pinnacle Entertainment acquisition.
Greektown, which operates 2,700 slots and 60 gaming tables, is the smallest of Detroit’s three casinos, reporting revenue of $85.6m in the second quarter of 2018, well back of rivals MGM Grand ($157.4m) and Motorcity ($125m). Greektown reported revenue of $27.6m in October, up 6.6% year-on-year and representing a 24% share of the market.
JACK Entertainment says it’s “continuing a strategic assessment” regarding the future of its gaming operations in other states, which include three venues in Ohio, the Turfway Park racetrack in Kentucky and its share of the Horseshoe Casino Baltimore joint venture with Caesars.
Earlier this month, PNG released its Q3 earnings report, which showed revenue falling slightly to $790m in the three months ending September 30 while adjusted earnings (after $114.5m in rent payments) rose 3.4% to $114.5. For the year-to-date, revenue is up 2.2% to $2.43b while earnings rose nearly 6% to $719m.
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PNG to develop mini-casino by Philadelphia suburbs
Casino News – Focus Gaming News
PNG to develop mini-casino by Philadelphia suburbs
The casino operator has announced it has chosen a site by the Pennsylvania Turnpike highway to develop the venue.
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Pennsylvania Casino Parx Could Join NJ Online Sports Betting Market In The Future
Pennsylvania Casino Parx Could Join NJ Online Sports Betting Market In The Future
Pennsylvania's Parx Casino partners with gaming tech company Kambi Group and could make a possible move on the NJ online sportsbook market.
The post Pennsylvania Casino Parx Could Join NJ Online Sports Betting Market In The Future appeared first on .
Tuesday, November 13, 2018
Swedish player banks life-changing Joker Millions progressive jackpot
World Casino News
Swedish player banks life-changing Joker Millions progressive jackpot
Stars Rewards Rolls Out For New Jersey PokerStars And BetStars Players
Stars Rewards Rolls Out For New Jersey PokerStars And BetStars Players
PokerStars launched its new customer loyalty program, Stars Rewards, in New Jersey for its online casino, sportsbook (BetStars NJ), and poker room.
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Gaming stocks are testing major support, what next?
Casino – CalvinAyre.com
Gaming stocks are testing major support, what next?
After yesterday’s selloff in the S&P 500, there should be no further doubt that we are at the beginning stages of a bear market in equities. Yesterday was the third biggest one-day loss in the S&P since stocks topped on September 21st, the autumn equinox, AKA the end of the summer and the beginning of the fall, pun intended. (The equinox was technically September 23rd, but there was no trading as it was a Sunday.) The ominous sign yesterday was that the index fell back below its 200 day moving average, after attempting to regain it after last week’s really. The Nasdaq already fell through its 200DMA on Friday. The canary gaming sector fell through that level a long time ago on July 2nd, with a “death cross” on August 9th, when the 50DMA crosses below the 200DMA.
Another interesting technical sign that emphasizes the leading role of gaming equities: The 50 week moving average in the BJK gaming ETF began to fall almost exactly as the S&P 500 topped. We can be fairly confident that the fall is not over because BJK is now decisively below its 200 week moving average. After bouncing higher off its 200WMA on the week of October 15th, it broke up above it again the next week, making traders think that we were bottoming. But then it decisively broke back below the week of October 29th, and continued down the first week of November, finally closing decisively lower again this past week. You can see the war being waged between bulls and bears at the very end of this weekly chart, the 200WMA being the front lines.
The final line in the sand in gaming equities, particularly Macau stocks, is 2-year support at $33.80. This was the jump-off point for the final 50% push to May highs. Notice above (in this expertly annotated chart using state-of-the-art MS Paint technology), how at the beginning of 2017, gaming stocks coiled tightly for two months before jumping higher at the end of February last year. Break down through that coil and the next support is at about $30, about 13% lower from where we are now.
Gaming has led the S&P 500 and bottomed together with it since the financial crisis of 2008. We should not expect that to change this time around. Gaming began to seriously crash in January 2008, the broader market in September, but both bottomed together in March 2009, the upswing led by gaming. Both bottomed together in October 2011, same story. The only anomaly was the Macau collapse of 2014 which was not accompanied by a broader market decline because the Macau collapse was political in nature and not business-cycle related. Nevertheless both bottomed nearly together, about 3 weeks apart in early 2016. This is not just a coincidence. There are fundamental reasons for it. As central banks tighten credit after a prolonged liquidity punch-drunk boom, the first industries to feel the pinch are recreational, and the rot spreads from there.
We are just at the beginning here. While gaming has already crashed through its 200WMA, the broader market is not even close. Broader indexes are working on the daily moving averages, only just now flirting with falling below the 50 weekly. The 50 weekly is only now starting to flatten for the first time in two and a half years, and the 200 is still a record distance above the 50 since the very beginning of this global bull market in March 2009. There is still plenty of room to fall.
But this is all just charting. Charting doesn’t prove much by itself. The proof of the pudding is in the supply of the world’s reserve currency, and boy is that in a sorry state. Check the very bottom right corner at the mini-table under table 2 at this link and you’ll see the annual M2 growth rate at only 3.9%. That is the lowest annual growth for this time of year the second week of November since 2010. Remember that in 2010 stocks were well below their highs. Now they’re not.
This time of year is seasonally the strongest for the dollar supply, and we are just not seeing that this year at all. By next summer during the seasonal dip we should be in a real serious liquidity crunch considering we’re going to be dipping down from these already anemic levels. Central banks should be forced to respond by the spring or summer of 2019 at the latest. Once that happens, it’ll be time to buy back in. It will result in a nominal burst higher in equities, but currency markets and bond markets will fall amid galloping inflation and debt crises.
The general strategy here for conservative traders should be to continue to scale out on up days. If you’ve been following this column and you’ve already finished doing that and you’re up for a little more risk, there are two general shorting strategies to consider without risking too much capital. First, you could reserve a little bit of money for medium-expiration put options on BJK or individual Macau stocks like LVS, Wynn, Melco, or MGM on strong up days. Emphasis on a little bit in case central banks surprise and act earlier than expected. Expirations should go out a few months for a decent buffer to account for the risk of strong bear market rallies. When you’re up, cover, wait for the next strong up day, rinse and repeat.
Second, you can play the long game with puts going out to 2020 and just keep them as a hedge throughout next year. Or you can do a combination of both.
The post Gaming stocks are testing major support, what next? appeared first on CalvinAyre.com.
Resorts World Manila owner profit up in Q3
Casino – CalvinAyre.com
Resorts World Manila owner profit up in Q3
Travellers International Hotel Group, Inc. reported a profit of PHP133.2 million ($2.5 million) for the third quarter of 2018, compared to a net loss of PHP409.8 million ($7.7 million) during the same period last year.
In a filing, the company, owned by Manila-based Alliance Global, Inc. and Genting Hong Kong Limited, reported a profit of PHP1.8 billion ($34.3 million) for the first nine months of the year, continuing its turnaround from the previous year’s losses. From January to September of 2017, net loss was PHP36.8 million ($695,000).
Gross revenue was PHP5.9 billion ($111.8 million), 3.2% higher than the same period last year. Gross gaming revenue (GGR) was PHP4.7 billion ($89.5 million), 33.6% higher year on year, “primarily due to the improvement in volume in both non-VIP and VIP segments,” according to the report.
Non-gaming activities, including operations from the Marriott Hotel Manila, Maxims Hotel, Holiday Inn Express Manila Newport City, and Courtyard by Marriott Iloilo, was PHP1.2 billion ($22.3 million), up 27.7% from the third quarter of 2017. “The increase was primarily due to the improvement in occupancy rates and average room rates,” the report read. Property visitations averaged 27,500 a day, at an average occupancy rate of 79%.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) for the third quarter was PHP211.7 million ($4 million), 47.25% lower than the previous year for the same period.
The Hilton Manila opened last October 25, with Phase 3, dubbed the ‘Grand Wing,’ to contain the Hilton as well as the Sheraton Manila Hotel, and Hotel Okura. All in all, the new hotels will add about 940 rooms to the previous total room count of 1,454, and will include new gaming, entertainment, and retail spaces.
Revenue for the first nine months of the year was PHP17 billion ($320.3 million), 8.2% higher than the previous year for the same period. Of this, gaming contributed PHP13.8 billion ($259.4 million), while non-gaming activities amounted to PHP3.2 billion ($60.9 million). EBITDA for the nine months was PHP1.8 billion ($33.6 million), 31.2% lower year on year.
As of end-September, the owner of Resorts World Manila operated a total of 280 tables, and 1,642 slot machines.
The post Resorts World Manila owner profit up in Q3 appeared first on CalvinAyre.com.
Monday, November 12, 2018
NHL and New Jersey Devils ink landmark deals with FanDuel
World Casino News
NHL and New Jersey Devils ink landmark deals with FanDuel
MGM, Wynn tamp down Boston casino intrigue
Las Vegas Sun Stories: Gaming
MGM, Wynn tamp down Boston casino intrigue
Executives for MGM and Wynn are tamping down speculation the companies are quietly in talks over Wynn's Boston-area casino. MGM Resorts International CEO Jim Murren said today it would have to be an "extremely unique situation" for officials to ...
Andrius Gabnys (Gabnys Law Firm) as ambassador for MARE BALTICUM
Casino News Today
Andrius Gabnys (Gabnys Law Firm) as ambassador for MARE BALTICUM
European Gaming announces Andrius Gabnys (Gabnys Law Firm) as ambassador for MARE BALTICUM. The team at European Gaming Media and Events is proud to announce that Andrius Gabnys (Gabnys Law Firm) will join them as event Ambassador at the second edition of MARE BALTICUM Gaming Summit, which will be held in Vilnius, Lithuania on the 9th of May, 2019 at ...
The post Andrius Gabnys (Gabnys Law Firm) as ambassador for MARE BALTICUM appeared first on Casino News Today.
Solaire land purchase leads to drop in Bloomberry profits
Casino – CalvinAyre.com
Solaire land purchase leads to drop in Bloomberry profits
Philippine-listed Bloomberry Resorts Corporation reported a profit of PHP1.1 billion ($21.3 million) for the third quarter, 39% lower than that posted during the same period last year.
In a press release accompanying its latest financial report, the operator of the Solaire Resort & Casino in the Philippines and the Jeju Sun Hotel & Casino in South Korea explained the lower result as “due to lower EBITDA [earnings before interest, taxes, depreciation, and amortization] and a 159% increase in interest expense relating to the new Syndicated Loan,” the proceeds of which “were used to retire previous debt facilities and finance the acquisition of land from PAGCOR [Philippine Amusement and Gaming Corporation] where Solaire and its expansion area is located in Entertainment City.”
Mass table drop, the amount of money changed for chips at the table, was a record for a quarter, with Solaire generating PHP12.3 billion ($23 million), 27% higher year on year. The resort’s electronic gaming machine coin-in amounted to P54.3 billion ($1 billion), 9% higher year on year and also a record high.
VIP volume made for PHP592.8 billion ($11.1 billion), while VIP gross gaming revenue fell 6% to P15.8. “The lower VIP GGR caused Bloomberry’s promotional allowances and contra accounts to contract by 2% year-on-year to PHP2.9 billion ($53.6 million),” the statement read.
Bloomberry Chairman and CEO Enrique Razon said that the company’s performance “goes to show that we continuously try to outdo ourselves in our quest to make Solaire the country’s trendsetter for integrated resorts. I am confident of ending the year with similar stellar results.”
Revenue for the quarter was PHP9.8 billion ($184.2 million), 2.3% higher than the third quarter of 2017. The company explained the increase as “a result of the robust performance of its mass gaming segments in Solaire and lower promo allowances and contra accounts.” Gaming revenue constituted most of this, at PHP9 billion ($169.8 million), 3.8% higher than the same period last year.
EBITDA for the first nine months was PHP3.2 billion ($59.7 million), 8% lower year on year, “impacted by the low VIP hold rate of 1.91% for the quarter,” according to the company.
From January to September, Bloomberry’s net income was PHP6.4 billion ($120.9 million), 7.9% higher year on year. Revenue for the nine months was PHP31.9 billion ($59.9 million), 13.9% higher than the corresponding period the year before. EBITDA grew 12% to PHP11.5 billion ($215.2 million).
The post Solaire land purchase leads to drop in Bloomberry profits appeared first on CalvinAyre.com.
Sunday, November 11, 2018
Wynn scraps lagoon project, will reopen golf course
Las Vegas Sun Stories: Gaming
Wynn scraps lagoon project, will reopen golf course
The Wynn Resorts Paradise Park lagoon project has been shelved and will be replaced by a revamped 18-hole golf course, the company announced today during its third-quarter earnings call. Wynn contracted Tom Fazio, the original designer of the golf course, to ...
BetStars Rolls Out Limited Time $50 Free Bet Offer For NJ Sports Betting Users
BetStars Rolls Out Limited Time $50 Free Bet Offer For NJ Sports Betting Users
BetStars NJ has a $50 free bet available for new users (no deposit required). But this NJ sports betting offer is only available Sunday and Monday.
The post BetStars Rolls Out Limited Time $50 Free Bet Offer For NJ Sports Betting Users appeared first on .
FunFair Technologies announces new Wheel of Fun game
World Casino News
FunFair Technologies announces new Wheel of Fun game
MGM, Wynn tamp down Boston casino intrigue
Las Vegas Sun Stories: Gaming
MGM, Wynn tamp down Boston casino intrigue
Executives for MGM and Wynn are tamping down speculation the companies are quietly in talks over Wynn's Boston-area casino. MGM Resorts International CEO Jim Murren said today it would have to be an "extremely unique situation" for officials to ...
Saturday, November 10, 2018
Melco Resorts & Entertainment profit plunges as VIPs get lucky
Casino – CalvinAyre.com
Melco Resorts & Entertainment profit plunges as VIPs get lucky
Casino operator Melco Resorts & Entertainment (MRE) reported steep drops in revenue, earnings and profit as Macau’s VIP gamblers went on an extended winning streak.
Figures released Thursday show MRE’s overall net revenue hitting $1.22b in the three months ending September 30, an 11% fall from the same period last year. The company claimed that the decline would have been only 5% were it not for a new revenue recognition standard adopted on January 1.
Regardless, Q3’s adjusted earnings were down 26% to $295.4m, operating income was down 57% to $83.6m and net income plunged 91.7% to just $9.6m. It’s possible that part of this plunge came from a “one-time special gift” of an extra month’s salary to non-management employees that MRE originally mentioned in August.
During the analyst call, CEO Lawrence Ho said the payment was related to MRE’s “pension plan” but declined to confirm whether this disbursement would become an annual event. As proof that misery (at least, for management) loves company, Ho said he would discuss the issue with other Macau casino operators, which would likely cause those operators’ staff to clamor for similar windfalls.
At any rate, MRE’s overall casino revenue was down one-fifth to $1.03b, even as casino expenses fell 16%. Room revenue and food & beverage revenue both posted double-digit increases, while ‘entertainment, retail & other’ was down double-digits.
VIP gambling turnover was up at all of MRE’s Macau properties but VIP win rate was down across the board, with some properties down more than a full point year-on-year, pushing win rate below the statistical average of 2.7-3.0%.
On the flip side, mass market table drop was up across the board and, with the exception of City Of Dreams, mass table win rate was also on the rise. Gaming machine handle was also up across the board, although win rate varied.
In the Philippines, City of Dreams Manila reported revenue falling 4.4% to $141.7m, while earnings dipped 3.6% to $57.3m. VIP turnover was flat but win rate inched up 0.2 points. Both mass market table drop and gaming machine spending was up, while win rate for both categories suffered declines.
Ho told analysts that VIP spending “has fallen faster than we had expected,” in part due to eroding Chinese customer confidence, to which Ho feels the ongoing US-China trade war is contributing. The non-junket premium mass segment is also trending downward, with customer spending “not what it was.”
The post Melco Resorts & Entertainment profit plunges as VIPs get lucky appeared first on CalvinAyre.com.
