Gambling in the USA
Casinos Across the U.S. Continue to Close as COVID-19 Spreads
More and more casinos across the United States are closing their doors as the nation goes into shutdown following the coronavirus outbreak.
Over the past few days, the rapid spread of the virus has forced millions of citizens to quarantine themselves at home. Offices, hotels, and venues across the country have had to cease operations, unclear when they can open again. The country is facing an economic crisis as a result and the gambling industry could be one of the worst-hit.
Both Wynn Resorts and MGM Resorts International shuttered their Las Vegas casinos last week. However, full-time employees have been given assurances that salaries will continue to be paid during the period. The move follows recommendations from the CDC to limit public gatherings to no more than 10 people.
Speaking to CNBC, Vegas-based race and sports manager Duane Colucci of Rampart Casino highlighted the industry’s struggle to prepare for such a situation. “It’s so hard to fathom. You can’t prepare for something like this, especially in the race and sportsbook industry,” she said. She hopes that work-from-home regulations will be relaxed to allow casinos to take bets online.
On the east coast, New Jersey Governor Phil Murphy has closed all casinos, bars, and restaurants in Atlantic City, rendering the popular gambling hub a ghost town.
A move online
Online gambling has managed to continue through the struggles largely unaffected, with many digital casinos accepting US players around the world. Virtual horse racing also continues to operate online, along with certain sporting events in less-affected countries like Mexico and Russia.
Sportsbooks across the country have begun taking bets on all-and-everything in an attempt to pick up the slack. For example, the popular Costa Rican-based betting site Bovada has even been taking bets on the maximum temperature in various U.S. cities.
Sports betting sites like FanDuel and DraftKings are investigating new events on which to take bets. They both took some bizarre wagers on last week’s U.S political debate, including the amount and frequency of Trump’s tweets. Some other online betting sites have come up with some questionable solutions, like hosting simulated versions of real-life sports events that have been canceled.
Across the pond in the United Kingdom, physical casinos are also feeling the pinch. However, with the UK’s more favorable online gambling regulations, many are surviving through their online partner sites. eSports, where players compete entirely online, is another industry that has garnered increased popularity. Many sports betting sites are now enticing players to redirect their bets to eSports as a way to mitigate lost revenue on real-life sports.
A drain on savings
While online gambling might solve the problem of social distancing that COVID-19 presents, it doesn’t solve the problem of dwindling capital in most households. The longer that citizens are kept away from their work, the less likely they are to spend their savings on unnecessary activities. While gambling may be a favorite past-time for many, risky investments tend to reduce significantly during times of crisis.
The overall casino and gambling industry will struggle to survive this outbreak if the lockdown continues for too long. According to the UK paper The Guardian, around 35 companies are currently investigating a COVID-19 vaccine. However, it’s an arduous process that involves several critical testing phases in order to gain regulatory approval.
Annelies Wilder-Smith of the London School of Hygiene and Tropical Medicine believes a COVID-19 vaccine will take at least 18 months to develop, under the best possible conditions. During that time there is no telling how far the virus could spread and how devasting the effects on the economy could be.
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
Golden Entertainment Inc. reported financial results for the third quarter ended September 30. The Company reported third quarter revenue of $161.2 million, net income of $5.2 million and Adjusted EBITDA of $34.0 million. In addition, on November 5, the Company’s Board of Directors authorised the Company’s recurring quarterly cash dividend of $0.25 per share of the Company’s outstanding common stock payable on January 7, 2025 to shareholders of record as of December 20, 2024.
Snoqualmie Casino has announced its rebranding to Snoqualmie Casino & Hotel, reflecting an exciting new chapter in the venue’s history as it embarks on a much-anticipated expansion. Set for completion in mid-2025, this project promises to elevate the guest experience, making Snoqualmie Casino & Hotel a premier destination for entertainment, relaxation and culinary excellence. The cornerstone of the expansion is the construction of a luxurious hotel, which will offer guests unparalleled comfort and stunning views of the Snoqualmie Valley and Mount Si.
Galaxy Gaming Inc., the world’s largest independent developer and distributor of casino table games and technology announced, at a special meeting of its stockholders held on November 12, 2024 (the Special Meeting), Galaxy Gaming stockholders voted to approve the Company’s acquisition by Evolution Malta Holding Limited (Evolution), Evolution AB (publ)’s wholly owned subsidiary. Galaxy Gaming will file a Form 8-K with the U.S. Securities and Exchange Commission reporting the final voting results of the Special Meeting.
Caesars Virginia has announced that its highly anticipated opening date will be Thursday, Dec. 12, 2024. The resort will welcome its first guests beginning at noon. Additional details on the opening festivities will be announced at a later date. Caesars Virginia is a 587,000 square foot casino resort with more than 90,000 square feet of gaming space.
Partnerships
NGX has entered into a strategic partnership with Sportradar, a global leader in sports integrity solutions, which collaborates with more than 180 sports federations and leagues. The agreement aims to support the Brazilian football federations of Rio Grande do Sul, Paraná and Pará, providing detailed reports to ensure the integrity of sporting events and combat fraud.
EvenBet Gaming has announced the launch of its advanced poker solutions in partnership with JugaMax, one of the largest and most respected casino operators in Paraguay. This strategic collaboration marks EvenBet’s debut in the Paraguayan iGaming market, solidifying the company’s expansion within Latin America. The newly established partnership enables the integration of EvenBet Gaming’s poker offering on the JugaMax platform.
Jackpocket, the leading lottery app in the US, and Barstool Sports announced a new collaboration naming Jackpocket as the “Exclusive & Official Digital Lottery Partner of Barstool Sports”. The deal with Barstool follows Jackpocket’s parent company, DraftKings, announcing a similar agreement with the media company in February 2024. This collaboration centers around the integration of Jackpocket in Barstool’s content. Fans can participate in the lottery alongside some of Barstool’s biggest names such as Dave Portnoy, Big Cat & PFT from Pardon My Take – the leading sports podcast in America, Wallo & Gillie from Million Dollaz Worth of Game and more.
The post Gaming Americas Weekly Roundup – November 11-17 appeared first on European Gaming Industry News.
Gambling in the USA
Snoqualmie Casino Announces Exciting Rebranding to Snoqualmie Casino & Hotel Ahead of Major Expansion
Snoqualmie Casino has announced its rebranding to Snoqualmie Casino & Hotel, reflecting an exciting new chapter in the venue’s history as it embarks on a much-anticipated expansion. Set for completion in mid-2025, this project promises to elevate the guest experience, making Snoqualmie Casino & Hotel a premier destination for entertainment, relaxation, and culinary excellence.
The cornerstone of the expansion is the construction of a luxurious hotel, which will offer guests unparalleled comfort and stunning views of the Snoqualmie Valley and Mount Si. With a focus on sustainability and modern design, the hotel will feature upscale accommodations, a full-service destination spa, and amenities that cater to both leisure and business travelers. Plus, there are architectural details inspired by Snoqualmie culture from a modern slant roof hotel design representing the original longhouses of the Snoqualmie Tribe’s ancestors to carefully chosen artwork placed throughout for guests to enjoy.
Snoqualmie Casino & Hotel’s destination spa will offer an immersive escape that blends relaxation with the healing power of nature. Nestled in the serene landscapes of the Pacific Northwest, the spa provides a range of rejuvenating treatments. Experience the perfect blend of wellness and nature where luxury, tradition and innovation come together for an incredibly transformative experience.
“It is my honor and privilege to announce that Snoqualmie Casino has now become Snoqualmie Casino and Hotel. Over the past three years, the Snoqualmie Tribe and Casino have been diligently working to bring a one-of-a-kind, world-class hotel to the Snoqualmie Valley,” said Interim CEO Mary Lou Patterson.
In addition, Snoqualmie Casino & Hotel will expand its gaming floor, introducing an array of new options to enhance the entertainment experience for guests. This expansion will include the latest slots, electronic and traditional table games, as well as a dedicated high-limit gaming area for discerning players seeking a more exclusive gaming experience.
One of the highlights of the expansion is the development of a state-of-the-art 2000-seat entertainment and convention center. This versatile venue will host a variety of events, from concerts to conferences, positioning Snoqualmie Casino & Hotel as a key player in the region’s entertainment landscape. With cutting-edge technology and a focus on guest comfort, the center will attract top-tier talent and events, making it a must-visit destination.
In addition to the award-winning Vista Prime Steaks & Seafood, 12 Moons, and Falls Buffet, a new sports bar and grill will be introduced to provide patrons with the ultimate game day experience. Other new dining options, set to open later, will showcase local ingredients and flavors, ensuring a memorable culinary experience for guests.
Snoqualmie Casino & Hotel recently launched a brand-new valet garage. The dual level indoor and outdoor structure, with 600 additional spaces, doubles the previous capacity for valet parking creating easier access into the casino. This is the first piece of new development at Snoqualmie Casino & Hotel that has opened for immediate use. The entire project anticipates creating numerous job opportunities for local residents, contributing to the economic growth of the Snoqualmie area.
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
PENN Entertainment and ESPN announced that account linking between ESPN BET and ESPN is now available for customers, creating an even more deeply integrated media and betting experience. By linking accounts, fans now have the ability to seamlessly track upcoming, live and settled bets within the ESPN app and on ESPN.com. With this product enhancement, ESPN BET will soon bring fans more personalised bets and timely promotions based on their favourite sports, teams, players and fantasy rosters.
Accel Entertainment Inc. has announced that it has completed the acquisition of 85% of the ownership interests of Toucan Gaming LLC and LSM Gaming LLC, two Louisiana-based route operators and owners of multiple licensed video poker establishments (collectively, “Toucan”), for approximately $40 million. The combined business will operate as Toucan Gaming throughout Louisiana and will be led by Stan Guidroz, an industry-leading gaming executive and current CEO of Toucan Gaming. Mr. Guidroz owns the remaining 15% of Toucan’s ownership interests and will lead the Accel team supporting Toucan’s continued growth.
INTRALOT S.A. has announced the undertaking of a new project between the British Columbia Lottery Corporation (BCLC), the sole lottery operator for the Government of British Columbia in Canada, and INTRALOT, its US subsidiary, for the provision of an online lottery platform. The project also includes the digitalisation of the existing land-based network. The solution will be based on the Player X platform, part of the Lotos X ecosystem, and adds to the company’s overall partnership with BCLC, which has been extended until 2028.
BetMGM Poker has become the third US operator to offer multi-state online poker. The company has merged its player pools in Michigan and New Jersey. Both states are a part of the Multi-State Internet Gaming Agreement, which allows online poker networks to share liquidity and players in participating markets. The two-state network went live Wednesday afternoon after morning maintenance.
Betsson Group has celebrated its success at the SBC Awards Latinoamérica 2024, winning two prestigious awards: Sportsbook Operator of the Year and Leader of the Year, which was awarded to Kevin Saliba, Commercial Director (Business Development) for Latin America. This marks the second consecutive year Betsson has earned the Leader of the Year accolade, following Andrea Rossi’s win in 2023 – an achievement that underscores Betsson’s consistent leadership in the region.
Partnerships
Play’n GO has announced a new operator partnership with renowned gaming brand Hard Rock Digital for their top-rated Hard Rock Bet online casino platform in New Jersey. The Hard Rock brand is synonymous with entertainment worldwide, and this partnership will see Hard Rock Bet players in New Jersey gain access to hit Play’n GO titles such as Piggy Blitz, Book of Dead and Rise of Olympus 100.
SCCG Management, a global leader in gaming innovation and advisory, has announced a strategic partnership with Chata.AI, a technology provider specialising in self-service, proactive analytics that enables businesses to access real-time insights without requiring extensive technical expertise. This partnership introduces Chata.AI’s technology to the gaming industry, providing operators with powerful tools to streamline decision-making and increase operational efficiency.
The post Gaming Americas Weekly Roundup – November 4-10 appeared first on European Gaming Industry News.
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