Caesars Entertainment
Twin River to Acquire Tropicana Evansville from Caesars Entertainment
Twin River Worldwide Holdings has entered into a deal to acquire the Tropicana Evansville casino operations from Caesars Entertainment.
As part of the acquisition, Gaming and Leisure Properties, Inc. (GLPI), a publicly traded gaming-focused real estate investment trust (REIT), will acquire the Evansville casino real estate for $340 million and lease it back to Twin River for $28 million/year in rent, subject to escalation.
Twin River will also acquire unencumbered rights to the sports betting and iGaming skins associated with the Evansville operations to access the growing Indiana market as part of the transaction.
“This transaction is consistent with our core strategy of acquiring strategic gaming assets at attractive valuations and, importantly, represents the Company’s entry into a 10th state. It also provides us with access to an attractive Indiana gaming market, in which we will look to significantly advance our mobile and online sports betting and iGaming initiatives. We believe this property is a great fit for our portfolio. We are acquiring the operations at a value accretive multiple, while also enhancing our interactive offerings,” George Papanier, President and Chief Executive Officer of Twin River, said.
The transaction is expected to close in mid-2021, subject to receipt of required regulatory approvals and other customary closing conditions.
Powered by WPeMatico
Caesars Entertainment
Caesars Entertainment Celebrates Grand Opening of Company’s First Nebraska Property, Harrah’s Columbus Nebraska Racing and Casino
Harrah’s Columbus, NE Racing & Casino, Caesars Entertainment’s first venture into the Cornhusker State, opened its doors to guests for the first time. Caesars, Columbus Exposition and Racing and the Columbus community celebrated the momentous occasion with a ribbon cutting, giveaways and more.
Opening day guests received commemorative Harrah’s shirts before making the property’s historical first spins on the slots, table game wagers and first bets at the Caesars Race & Sportsbook. The first jackpot was hit at 10:14 a.m. with a lucky guest winning $1,876 on Power Push.
“We’re so proud to open the doors to Harrah’s Columbus, NE Racing & Casino for the first time today,” said Todd Connelly, Regional President of Caesars Entertainment. “Harrah’s is an iconic brand that our guests have come to know and love across the country. We’re so happy to be here with our partners and friends as we celebrate what is sure to be a bright future in Nebraska.”
The new destination features a 17,000-square-foot casino with 400 slot machines, 11 table games and a Caesars Race & Sportsbook featuring a 2,100-square-foot sports and simulcast betting area conveniently located on the casino floor. The area contains 17 viewing screens, including a massive 163-inch video wall for the ultimate sports viewing experience. The opening of Caesars Race & Sportsbook at Harrah’s Columbus, NE Racing & Casino marks the first time Caesars Sportsbook has accepted sports wagers in the Cornhusker State.
Harrah’s Columbus, NE Racing & Casino is also home to the award-winning restaurant Brew Brothers, founded by the Carano family in 1995, and a bar called Wishbones. A Marriott Fairfield Inn and Townplace Suites is under construction next door and will connect directly to the casino once complete later this year.
In partnership with Columbus Exposition and Racing, Harrah’s Columbus Nebraska will be home to a one-mile racetrack, the longest track in the state. The track will host 15 live races every Friday – Sunday from Aug. 16 to Sept. 15, as well as one on Labor Day. Each date will offer all-ages Grandstand seating, along with 21+ in-person and kiosk betting.
Harrah’s Columbus NE, Racing & Casino is also part of Caesars Entertainment’s expansive Caesars Rewards® network. Guests who play at the new destination can earn and redeem Reward Credits at any of Caesars Entertainment’s 50+ properties in North America.
Caesars Entertainment
Elys BMG Group Announces Approval for Grand Central’s H Street Sportsbook in Washington, DC.
Elys BMG Group Inc., an interactive gaming and sports betting technology company, announced that Grand Central Sportsbook in Washington D.C. (Grand Central) has been granted provisional approval to open its H Street sportsbook by the DC Office of Lottery and Gaming, Regulation and Oversight Division. As previously announced, this represents the third independently owned sportsbook venue in Washington, D.C. powered by Elys’ Gameboard betting technology.
The grand opening of Grand Central H Street, located at 625-D H Street NE in Washington, D.C., is expected to take place ahead of the 2024 March Madness tournament and which will be announced along with planned promotions and events within the coming days.
The Company is preparing to sequentially open multiple new retail sportsbook operations in Washington D.C. and other states throughout 2024 and looks forward to launching its online sportsbook in Colorado on a B2C basis through the Market Access Agreement with Caesars Entertainment.
2024 Casino Player Trends Report
Non-Gaming Offerings Crucial for Casinos to Attract Emerging Demographics, Build Loyalty: LaneTerralever Study
Data from study reveals 83.9% of Millennials and 80.5% of Gen Z weigh factors such as restaurants/bars, live entertainment and hotel amenities when choosing a casino to visit
LaneTerralever, a full-service marketing and customer experience agency with a division focused on casino, hospitality and entertainment destination brands, today released its new study, 2024 Casino Player Trends Report: How Non-Gaming Activities Are Transforming Casinos. The study, conducted in partnership with Anthony F Lucas, professor at UNLV’s College of Hospitality, measured the opinions of respondents aged 21 to 75 on various non-gaming offerings of both local and destination casinos and how they impact their loyalty to the properties they choose.
Non-Gaming Most Vital to Millennials/Gen Z and Still Important to Boomers/Gen X
Notably, 83.9% of Millennials and 80.5% of Gen Z indicated non-gaming activities such as restaurants and bars, live entertainment, hotel amenities, etc significantly impacted their decision-making process when choosing a local casino. While still significant, those numbers were smaller for older demographics including 65.3% of Boomers and 76.1% of Gen X reporting non-gaming offerings had a significant impact.
All Generations Budgeting Time and Money for Non-Gaming
Across all generations, it was found that ~20% of their time is spent doing something other than playing with non-gaming activities, something they specifically budgeted for – Millennials lead that group at 68%. Restaurants/bars were the top non-gaming activity mentioned for local casinos at 40.9%, followed by live entertainment at 23.2% and hotel amenities at 16%.
Visiting with Groups has Become Increasingly Important
The ‘group visit’ to casinos is seen as increasingly important, especially among younger market segments, with 80% of people visiting local casinos in groups and 87% of destination casino visitors doing the same. Notably, 70% of casino-goers say non-gaming offerings are more important when they visit with family and friends.
“Our study underscores the prevalence of the experience economy and how important it is for casino operators to continue to hone and expand their experiential and entertainment-focused offerings, particularly to attract the attention of younger generations and maintain long-term loyalty of all players,” the Marketing Vice-President for LaneTerralever, Nick Dan-Bergman, said.
Additional Noteworthy Findings:
Affluent Players are a Unique Segment, Value Non-Gaming Activities
Affluent visitors will likely spend 50% of their time on non-gaming activities during a single trip to a destination casino, meaning they prioritize non-gaming offerings more than the average player. They consider live entertainment most important with 27.2% of affluent players ranking it as their top non-gaming offering compared to 20% of non-affluent.
Hard Rock Leading Competition Among Non-Gaming Offerings
When asked which destination casino brand has the best non-gaming offerings, 21.1% chose Hard Rock Hotel & Casino. MGM Resorts International, at 20.1%, was a close second, followed by Caesars Entertainment at 13.8%.
Non-gaming and Customer Experience Offer Opportunity to Build Deeper Relationship with Players
When it comes to fostering loyalty among players, non-gaming offerings once again ranked prominently among younger demographics with 69.3% of Millennials and 65.7% of Gen Z saying non-gaming features have at least some impact on their loyalty to local casinos. In comparison, just 56.9% of Boomers and 61.3% of Gen X scored this as important. In addition, customer experience was identified as a top way to build loyalty with 89% of casino-goers saying good customer experience can lead them to choose a smaller casino over a larger brand.
Opportunities to Entice Online Bettors to Visit In-Person
Gauging the prevalence of online versus in-person wagering within the context of age groups, 73% of Gen Z and Millennials indicated they’ve placed a bet online. When the topic turned to in-person wagers, the responses effectively flipped, with 79% of Boomers stating they’ve placed a bet at a brick-and-mortar establishment; a significantly higher proportion than Gen Z and Millennials
Webinar Presenting Key Research Findings
The authors of the research are hosting a webinar in partnership with Tribal Gaming and Hospitality Magazine on Tuesday, February 13 at 10am PST. They’ll present the highlights of their findings and host a panel discussion; register to attend here.
To download the full 2024 Casino Player Trends Report, visit LaneTerralever .com.
-
Baltics7 days ago
Hitting the Networking Jackpot: Iconic MARE BALTICUM Gaming & TECH Summit Launch at Tallinn Olympic Park Casino
-
Compliance Updates7 days ago
NIGC Announces Acting Chair
-
Compliance Updates7 days ago
CT Interactive Certifies 60 Games and Hot Luck Jackpot for Peru
-
Australia7 days ago
AUSTRAC and SkyCity agree to proposed $67 million penalty
-
Africa7 days ago
EGT Tanzania consolidates its status as a leader in Africa with a major installation at Grand Leone Casino in Sierra Leone
-
Asia6 days ago
WorldMatch Certifies Games for the Philippines
-
Latest News6 days ago
GambleAware responds to inaccurate and misleading claims
-
Compliance Updates7 days ago
Spillemyndigheden: Anti-Money Laundering- A report to the police must be followed up by a notification