Gambling in the USA
Las Vegas Sands Reports First Quarter 2020 Results
For the quarter ended March 31, 2020 (Compared to the quarter ended March 31, 2019)
– Greatest Priorities Remain the Safety and Security of Team Members and Guests and Support for Local Communities in Macao, Singapore and Las Vegas
– The Company will Continue Previously Announced Capital Expenditure Programs in both Macao and Singapore
– Strong Balance Sheet Positions the Company Well to Invest in Future Growth Opportunities
Las Vegas Sands Corp. (NYSE: LVS), the world’s leading developer and operator of convention-based Integrated Resorts, reported financial results for the quarter ended March 31, 2020.
“The impact of the Covid-19 pandemic on our business has been unprecedented, and I have never seen anything like it in my over seventy years in business,” said Sheldon G. Adelson, chairman and chief executive officer. “Our greatest priority during this difficult time remains our deep commitment to supporting our team members and to helping those in need in each of our local communities of Macao, Singapore and Las Vegas.
Despite these circumstances, our balance sheet strength will enable us to emerge from this pandemic with all our promising future growth opportunities fully intact. We remain extremely optimistic about an eventual recovery of travel and tourism spending across our markets, as well as our future growth prospects. We are fortunate that our financial strength will allow us to continue to execute our previously announced capital expenditure programs in both Macao and Singapore, while continuing to pursue growth opportunities in new markets.”
Net revenue was $1.78 billion, a decrease of 51.1% from the prior year quarter. Operating income decreased 94.3% to $55 million. Net loss in the first quarter of 2020 was $51 million compared to net income of $744 million in the first quarter of 2019. Consolidated adjusted property EBITDA was $437 million, a decrease of 69.9% from the prior year quarter.
The company paid a quarterly dividend of $0.79 per common share on March 26, 2020. The company has suspended its quarterly dividend program due to the impact of the novel coronavirus (“COVID-19”) pandemic.
Sands China Ltd. Consolidated Financial Results
On a GAAP basis, total net revenues for SCL decreased 65.1%, compared to the first quarter of 2019, to $814 million. Net loss for SCL was $166 million, compared to net income of $557 million in the first quarter of 2019.
Other Factors Affecting Earnings
Interest expense, net of amounts capitalized, was $131 million for the first quarter of 2020, compared to $141 million in the prior-year quarter. The decrease resulted from our weighted average borrowing cost in the first quarter of 2020 decreasing to 4.2%, compared to 4.6% during the first quarter of 2019.
Our income tax expense for the first quarter of 2020 was $25 million, compared to $85 million in the prior year quarter. The tax rate for the first quarter of 2020 was primarily driven by a 17% statutory tax rate on our Singapore operations.
Balance Sheet Items
Unrestricted cash balances as of March 31, 2020 were $2.60 billion.
The company has access to $3.93 billion available for borrowing under our U.S., SCL and Singapore revolving credit facilities, net of outstanding letters of credit.
As of March 31, 2020, total debt outstanding, excluding finance leases, was $12.30 billion.
Capital Expenditures
Capital expenditures during the first quarter totaled $320 million, including construction, development and maintenance activities of $241 million in Macao, $33 million in Las Vegas and $46 million at Marina Bay Sands.
Conference Call Information
The company will host a conference call to discuss the company’s results on Wednesday, April 22, 2020 at 1:30 p.m. Pacific Time. Interested parties may listen to the conference call through a webcast available on the company’s website at www.sands.com.
About Las Vegas Sands Corp. (NYSE: LVS)
Las Vegas Sands is the world’s pre-eminent developer and operator of world-class Integrated Resorts. We deliver unrivaled economic benefits to the communities in which we operate.
Sands created the meetings, incentives, convention and exhibition (MICE)-based Integrated Resort. Our industry-leading Integrated Resorts provide substantial contributions to our host communities including growth in leisure and business tourism, sustained job creation and ongoing financial opportunities for local small and medium-sized businesses.
Our properties include The Venetian Resort and Sands Expo in Las Vegas and the iconic Marina Bay Sands in Singapore. Through majority ownership in Sands China Ltd., we have developed the largest portfolio of properties on the Cotai Strip in Macao, including The Venetian Macao, The Plaza and Four Seasons Hotel Macao, Sands Cotai Central and The Parisian Macao, as well as the Sands Macao on the Macao Peninsula.
Sands is dedicated to being a good corporate citizen, anchored by the core tenets of serving people, planet and communities. We deliver a great working environment for our team members worldwide, drive social impact through the Sands Cares charitable giving and community engagement program and lead in environmental performance through the award-winning Sands ECO360 global sustainability program. To learn more, please visit www.sands.com.
SOURCE Las Vegas Sands Corp.
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BetMGM
BetMGM Relaunches Borgata Online Platform
BetMGM, a leading iGaming and sports betting operator, announced the official relaunch of Borgata Online, representing the platform’s latest evolution and building on more than a decade of continuous innovation since its 2013 debut as one of New Jersey’s first regulated online casinos. Borgata Hotel Casino & Spa will host a Fourth of July weekend celebration to mark the launch of the reimagined platform.
“Borgata wrote the first chapter of legal online gambling in 2013 and now we are writing the next one. Borgata players are some of our most engaged and loyal customers, so we wanted to ensure their experience reflects the exceptional quality that has become synonymous with the Borgata name. Borgata provides a seamless connection to online and in-person experiences and exemplifies what a legal, regulated online casino can achieve. This latest product investment underscores how seriously we take our responsibility to players, regulators, and all who have made Borgata Online what it is today,” said Matt Prevost, Chief Revenue Officer at BetMGM.
Borgata’s online journey began October 9, 2013 when it received New Jersey’s first internet gambling permit from the New Jersey Division of Gaming Enforcement. Borgata was part of the state’s initial soft-launch group November 21, 2013, and legal online casino gambling in New Jersey went fully live to the public November 26, 2013. Borgata Online has since been a consistent contributor to New Jersey’s economy, with records dating to 2015, indicating the brand has contributed $250 million in taxes to the state.
Built on more than two decades of regional brand equity established in Atlantic City, the reimagined Borgata Online (available in New Jersey and Pennsylvania) delivers a refreshed interface, streamlined navigation, and ongoing feature parity with BetMGM’s flagship platform.
Key enhancements and events include:
Streamlined navigation
• The update delivers a full, visual refresh alongside a suite of new features designed to improve usability and engagement. Among the enhancements are structured top navigation tabs and a standardized bottom navigation bar, making it easier for players to browse and navigate the platform. The redesigned account hub centralizes information including available bonuses, playable balance, and withdrawable balance within a single tap.
• Casino players will benefit from improved access to their gaming activity. They can quickly launch favorite and recently played games directly from the home screen, streamlining the path back into gameplay.
New Rewards Hub
• Central to the update is a new unified Rewards Hub that consolidates promotions, Borgata Rewards Points, and MGM Rewards tier status into a single destination. It provides players with full visibility into the value they’ve earned and showcases the scope of the online and on-property ecosystem.
Expanded game selection built for Borgata players
• Borgata Online features 4000 titles, including 250 exclusive games and an industry-leading live dealer offering. Bespoke Borgata-branded games are planned throughout the remainder of the year, including Borgata Gem Strike and Borgata 777 Respin Deluxe, the sequel to Borgata 777 Respin, which has ranked among the platform’s top-performing titles for more than five years.
Fourth of July weekend
• Borgata Hotel Casino & Spa and Borgata Online will present a fireworks spectacular on Friday, July 3. Produced by the world-renowned Fireworks by Grucci, the 20-minute display of colorful, choreographed pyrotechnics will illuminate the Atlantic City skyline starting at 9:30 p.m. Public viewing will be available starting at 8:30 p.m. from Borgata’s surface lot.
• Borgata Online will celebrate its launch with a multi-day on‑property activation. Festivities begin Friday, July 3 with an adult game zone experience featuring interactive entertainment and branded giveaways, followed by hotel activations Saturday, July 4 and Sunday, July 5. Throughout the weekend, guests can visit the claw machine activation in the lobby, where new Borgata Online players who sign up and make a $25 deposit can pull for prizes, including the chance to win a $10,000 online casino bonus, luxury prizes and bonus spins. Casino bonus is non‑withdrawable and subject to a 1x playthrough requirement. It will be credited to the player’s account with three days to claim and will expire seven (7) days thereafter.
• Guests are invited to step into a nostalgic New Jersey diner scene for a complimentary retro-inspired photo opportunity on the casino floor – Saturday, July 4 from noon to 5 p.m. and Sunday, July 5 from 2-8 p.m.
The post BetMGM Relaunches Borgata Online Platform appeared first on Americas iGaming & Sports Betting News.
Arizona Department of Gaming
Arizona Department of Gaming Concludes Legislative Session with Approved Agency Continuation and Enhanced Spending Authority for Problem Gambling
Department is continued for six years to regulate an extensive portfolio: tribal gaming, event wagering and fantasy sports, horse racing and simulcast wagering, and boxing and mixed martial arts
State budget includes a 20 percent increase in problem gambling treatment and prevention appropriations
The Arizona Department of Gaming (Department) announced today that with Governor Hobbs’ signature on Senate Bill 1671, the Department has received continuation approval by the Arizona State Legislature, which periodically reviews state agencies for performance and authority. Additionally, through Senate Bill 1847 and the state’s Fiscal Year 2027 budget, the Department’s Division of Problem Gambling received expanded expenditure authority, enabling additional investments in problem gambling prevention, education, treatment, and recovery services across Arizona.
“Arizona first established the Department of Gaming in 1995 – and more than thirty years later, we remain excited about world-class regulation benefiting the entire state,” said Jackie Johnson, Department Director. “I’m grateful to Governor Hobbs and leaders in the state legislature, particularly continuation bill sponsor State Senator Shawnna Bolick, who thoroughly reviewed our agency with a deep commitment to public service, and I am pleased that the Department secured its continuation, which will allow us to strengthen our focus points in robust consumer protection and integrity.”
The Department, the Arizona State Boxing and Mixed Martial Arts Commission, and the Arizona Racing Commission are continued by the legislature for six years, per the enactment of Senate Bill 1671, sponsored by Senator Shawnna Bolick, in the 2026 legislative session that adjourned on June 12, 2026. This continuation affirms the Department’s and both Commissions’ authority to carry out the roles and responsibilities delegated by the legislature.
The Department’s Division of Problem Gambling marked the legislative session with the passage of a new state budget that grants $4,000,000 in total authorized spending for the Division. The $4,000,000 authority represents a 20 percent increase from the FY26 budget. Additionally, the legislature granted an annual $500,000 expenditure authority for the agency to use Event Wagering funds to support problem gambling. Finally, the Division will have grant oversight authority for the first time– allowing the Division to expand programs to assist those in need.
“The new state budget will strengthen longstanding investments in problem gambling assistance made possible through partnerships with Arizona’s Tribal Nations and the Arizona Lottery,” said Elise Mikkelsen. “We continue to see strong demand from individuals and families seeking information, resources, and treatment for gambling-related harm. This increased funding will help us expand the continuum of care and ensure more Arizonans have access to effective, inclusive, and timely support.”
In addition to supporting the Division in state-wide access to problem gambling prevention and treatment, the Department is actively engaged in responsible gaming and safer play initiatives. Now in its first year of the campaign, the Department’s Take Back the Game initiative in partnership with the Arizona Media Association is raising awareness of gambling self-exclusion options available through the agency. The campaign, which runs in English and Spanish across Arizona media outlets, lets viewers know that if gambling is no longer fun, they can Take Back the Game and self-exclude from Arizona casinos, sportsbooks, and fantasy sports operators. Also in 2026, the Department’s Too Young to Bet campaign emphasizes the risks associated with youth gambling.
To learn more about the Arizona Department of Gaming, visit gaming.az.gov. To learn more about problem gambling prevention and treatment, visit problemgambling.az.gov.
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Gambling in the USA
Wind Creek Hospitality Celebrates “Winner Takes All” Champion After $1 Million Win, Chance at Up to $11.8 Million
Wind Creek Hospitality has announced the winner of its cross-property “Winner Takes All” casino promotion, which culminated in a championship event held at Wind Creek Chicago Southland. The event brought together finalists from across Wind Creek’s portfolio for a high-stakes grand prize championship competition and VIP Guest experience.
Finalists qualified through slot tournaments at their home properties and advanced through quarterfinal and semifinal rounds before earning their place in the final championship event in Chicago. The finale featured a series of timed slot tournaments held on June 13, progressively narrowing the field of competitors through elimination rounds until the final winner was determined.
At the conclusion of the tournament on June 13, Aaron Nelson from Wind Creek Atmore was crowned the winner of the “Winner Takes All” competition, claiming a $1,000,000 prize in the tournament’s final round, and earning the opportunity to compete for the promotion’s ultimate grand prize of up to $11,888,888. “Winner Takes All” finalists were also awarded more than $200,000 in cash and prizes in the finale tournament, including a $100,000 second-place prize followed up by a drawing with a $50,000 prize pool, including a $25,000 top prize and multiple $1000 prize winners.
In addition to the competition, finalists participated in curated Wind Creek Rewards experiences designed to highlight Chicago’s cultural and hospitality offerings. Experiences included a Chicago River architectural boat cruise and a guided Chinatown culinary tasting tour, alongside a welcome reception featuring food and beverage service. Travel and accommodations were provided by Wind Creek Hospitality as part of the finalist experience.
The “Winner Takes All” promotion marked one of Wind Creek Hospitality’s most expansive cross-property tournament experiences, combining competitive gaming with destination-based Guest programming and elevated hospitality.
The post Wind Creek Hospitality Celebrates “Winner Takes All” Champion After $1 Million Win, Chance at Up to $11.8 Million appeared first on Americas iGaming & Sports Betting News.
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