Analysts: Illinois Sports Betting Could Be Worth $5.2 Billion
Illinois gambling regulators have not yet established a timeline for the launch of sports betting, included in the state’s new gambling expansion law. But consultants at Global Market Advisors (GMA) estimate that bettors could place $5.2 billion in wagers by 2023, closely trailing the $5.5 billion projected to be wagered in Nevada. GMA was among […]
AC Mayor, City Council Ask for Share of Sports Betting Revs
The New Jersey communities that house the two race tracks with sports betting—East Rutherford and Oceanport—receive a piece of the action for the trouble of hosting the tracks. Each collects a 0.75 percent cut of the gross sports betting revenue. In addition, their host counties, Bergen and Monmouth, obtain 0.5 percent. Atlantic City gets zilch, […]
Peninsula Pacific to Buy Iowa Hard Rock
Peninsula Pacific Entertainment, which currently owns half of Hard Rock Hotel & Casino Sioux City, has announced an agreement with Warner Gaming to purchase 100 percent of the property. The agreement is expected to be finalized in the second quarter of 2020 based on regulatory approvals. “Hard Rock Hotel & Casino Sioux City is a […]
Caesars Southern Indiana Debuts New Casino
Officials with Caesars Southern Indiana last week celebrated the grand opening of the new $90 million land-based casino—part of the internationally known Caesars gaming and entertainment brand. The new casino replaces the 21-year-old riverboat casino that operated as Horseshoe Southern Indiana. After 18 months of construction, guests can now enjoy the 110,000-square-foot integrated facility, combining […]
Virginia Senator Suggests Norfolk, Portsmouth Compromise
Following the recent receipt of the Virginia Joint Legislative Audit and Review Committee’s report on Gaming in the Commonwealth, state Senate Majority Leader Tommy Norment has suggested Portsmouth and Norfolk—both located in Hampton Roads—consider jointly developing a single resort-style casino. Norment said, “I don’t know why they wouldn’t talk about revenue sharing, they’re going to […]
Ruffin Discloses Plans for Circus Circus
The new owner of Circus Circus on the Las Vegas Strip says the resort will be getting a new 2,000-seat theater to house a new Cirque du Soleil show, “The Illusionists,” currently playing in New York. Billionaire Phil Ruffin owns Treasure Island on the Strip, which hosts Cirque’s long-running Mystere. He announced the $11 million […]
Missouri First State to Approve Eldorado-Caesars Deal
The Missouri Gaming Commission recently approved the $17.3 billion sale of Caesars Entertainment to Eldorado Resorts, plus the sale of Eldorado’s Isle Casino Cape Girardeau and Lady Luck Caruthersville to Century Casinos Inc. to avoid antitrust issues. Missouri thus becomes the first of 18 states to OK the transaction that also will require Federal Trade […]
Michigan Sports Betting Bill at the Finish Line
Michigan is finally ready to approve sports betting and iGaming now that the state’s tribes have come to the table and agreed to an outline, according to state Senator Curtis Hertel Jr. He says the negotiations with Democrat Governor Gretchen Whitmer are going well, and he expects the bills to be voted out of a […]
Rio Deal Closes
The sale of the Rio casino hotel in Las Vegas closed last week when Caesars Entertainment sold it to the Dreamscape Companies, owned by Eric Birnbaum. The $516 million deal includes $40 million in financing by Caesars, which will operate the property for at least the next two years, paying a rent of $45 million […]
Eldorado Sells Three Properties
Eldorado Resorts recently closed on the $385 million sale of Isle Casino Cape Girardeau and Lady Luck Casino Caruthersville in Missouri and Mountaineer Casino Racetrack and Resort in West Virginia to Century Casinos and real estate investment trust VICI Properties. The Missouri casinos could have faced federal antitrust issues as part of the $17.3 billion […]
Do iGaming Fines Reduce Problem Gambling?
The Jersey Division of Gaming Enforcement (DGE) levied fines last month against casino companies mobile and brick-and-mortar sportsbooks, drawing a response from an organization opposed to iGaming. Most of the violations were self-reported by the companies involved. According to the Coalition to Stop Internet Gambling, the slew of sanctions, totaling $150,000, rounds out a rough […]
Kentucky Hopes 2020 Is Lucky for Online Poker
When 2019 began, Kentucky looked like it was on track to become the fifth state to legalize online poker, after Nevada, New Jersey, Delaware, and Pennsylvania. West Virginia beat it to the punch, but the Bluegrass State could still become No. 6. Bill H 175, introduced by Rep. Adam Koenig this past spring, would have […]
