Tottenham Report: Speculation builds around UK Gambling Act review By Hannah Gannagé-Stewart, CDC Gaming Reports • June 29, 2022 As we edge closer to the summer parliamentary recess in the UK, speculation about what may be contained in the long-awaited Gambling Act review whitepaper is ramping up. The Times newspaper published a piece yesterday that appeared to contain pretty comprehensive insight into the details of the forthcoming whitepaper, although it is understood that some elements are still under close review by … [Read more...]
Controversial Las Vegas high rollers now gambling in court By John L. Smith, CDC Gaming Reports • June 29, 2022 Had a bookmaker put it on the board, it’s a bet I would have made: Convicted swindler Robert Alexander and controversial gambler Robert Cipriani would wind up taking their ongoing feud from the casino floor at Resorts World Las Vegas to the floor of a southern Nevada courtroom. Alexander is a formerly high-rolling gambler, video game promoter, and founder of online gaming company Kizzang. In … [Read more...]
Respiratory health and litigation risks in post-pandemic gaming By Chris Siewers, attorney, Cherokee N.C. • June 27, 2022 Casinos are the final frontier of indoor cigarette smoking. Advocates continue to lobby lawmakers to end indoor smoking loopholes, as New Jersey may be about to do. The arguments to lawmakers are sound and not in dispute — cigarette smoking is bad for the smoker and bad for people around the smoker, and comes at an enormous financial cost to the health-care system. The decision to snuff out … [Read more...]
Gaming is a seasonal industry, sports betting even more so By Ken Adams, CDC Gaming Reports • June 26, 2022 Gaming is a seasonal industry. Winter and summer have slower revenue months than spring and autumn. Many extenuating circumstances, such as hurricanes, floods, recessions, and pandemics, can change traditional patterns, but those are anomalies. Because of the seasonality of gaming revenue, it is rarely meaningful to compare one month to the previous month. November nearly always produces less … [Read more...]
Casinos are waking up to the need for smoke-free gaming floors By Mark Gruetze, CDC Gaming Reports • June 25, 2022 The elevator rider asked a simple question as the car neared the gaming area of Rivers Casino Pittsburgh last week. “Can you still smoke here?” The answer – yes, at least on half the floor – is not as revealing as the fact that the rider felt obliged to ask in the first place. In Pennsylvania and throughout the country, smoke-free gambling is on the rise. Two Philadelphia-area casinos, both … [Read more...]
Igaming Focus: FanDuel strategy — lean in when others pull back By Jake Pollard, CDC Gaming Reports • June 23, 2022 FanDuel continues to increase its lead in the U.S. online sports betting market. The speed of the firm’s dominance may be surprising, but the reasons are fairly logical. There is much talk of a big three of top U.S. betting brands, but the reality of the market as it stands currently is that FanDuel is pulling away from DraftKings and BetGMGM with seemingly increasing ease. The latest … [Read more...]
Will this be the year the gaming industry clears the air on smoking? By John L. Smith, CDC Gaming Reports • June 22, 2022 There is much to celebrate in the gaming industry these days. From the easing of pandemic restrictions to the proliferation and popularity of legalized sports betting, success stories are abundant out there. But there’s still a haze on the horizon. At a time most businesses have been smoke-free for years, either by government edict or healthful enlightenment, casinos in Nevada still let … [Read more...]
Slot machines and bottles of wine side by side on the shelf By Ken Adams, CDC Gaming Reports • June 20, 2022 During the recent AGS GameOn Summit, Nick Hogan of ReelMetrics compared slot floors to shelf space in a supermarket. Hogan suggested that using such a metaphor would aid in slot analysis and produce a higher yield. It can be a great metaphor and an effective way to think about a slot floor. It is also not a new concept. The first time I heard that metaphor used to analyze slot machines was from … [Read more...]
Tottenham Report: Condemned to the past By Andrew Tottenham, Managing Director, Tottenham & Co • June 15, 2022 “Those who cannot remember the past are condemned to repeat it” — George Santayana, writer and philosopher Today in the UK, we find ourselves in the position where a group of well-meaning people want to dictate to others how they should spend their money. Gambling has now become a “public-health issue” and some health professionals believe gambling provides no benefits, only harm, and should … [Read more...]
Tottenham Report: Did UK’s advertising regulator “stuff up” on its Paddy Power ruling? By Hannah Gannagé-Stewart, CDC Gaming Reports • June 15, 2022 Flutter’s flagship UK brand Paddy Power found itself in hot water this week with the UK’s Advertising Standards Agency (ASA), which has ruled that a seemingly quite innocuous ad encourages harmful gambling. The advert for Paddy Power’s Wonder Wheel game features a young man sitting on a sofa with his girlfriend and her family. He is so engrossed in the Paddy Power mobile app that when his … [Read more...]
TNT (Transformational New Technology) blowing up the casino industry By Ben Fox, Casino Esport Conference • June 14, 2022 From the outside, the casino industry contests "all is well," but I see a different narrative, albeit more long-term. Things can't all be so rosy if operators keep insisting that esport players will one day be slot players or that they will buy more steak dinners and have bottle service. Please keep in mind that even though many properties have great bars and restaurants, they will only occupy … [Read more...]
When Sam McMullen said he wanted to spend more time with his family, he meant it By Ken Adams, CDC Gaming Reports • June 12, 2022 Sam McMullen wanted to spend more time with his family, so he did. Sam McMullen died on May 30 in Las Vegas. The Las Vegas Review-Journal reported, “Lobbyist and lawyer Sam McMullen, a staple at the Nevada Legislature for more than 40 years, died Monday. He was 72. McMullen worked in the legislature since 1973, starting as a student lobbyist while attending the University of Nevada, Reno. He … [Read more...]
Igaming Focus: Digital features to merge with live elements as smaller operators compete for U.S. share By Jake Pollard, CDC Gaming Reports • June 9, 2022 In this second article looking at the U.S. online casino market, we talk to eGaming Monitor and Playtech about how smaller casino operators can compete in a vertical that is dominated by the three major brands that are DraftKings, BetMGM and FanDuel. To those three brands can of course be added Caesars, which is about to move aggressively into the online casino space and start leveraging its … [Read more...]
Igaming Focus: The road from market share to profitability By Hannah Gannagé-Stewart, CDC Gaming Reports • June 9, 2022 It has been clear over the course of this year that the U.S. sports betting and igaming markets have been transitioning into a new phase. The number of regulated states is going up more rapidly, marketing spends have peaked, and those without the firepower to compete have started to fall by the wayside. This week, DraftKings CEO Jason Robins gave his appraisal of the U.S. market from the DFS … [Read more...]
Accuser in Resorts World Las Vegas casino inquiry takes a big hit in lawsuit By John L. Smith, CDC Gaming Reports • June 7, 2022 Controversial businessman and gambler Brandon Sattler placed himself in the middle of a due-diligence debate at Resorts World Las Vegas after giving a deposition in April, in which he accused the company’s president Scott Sibella of drug use and alleged a convicted felon owned a piece of a popular taco shop on the property. Sibella denied the allegations and the company has moved to distance … [Read more...]
Tottenham Report: Crypto, the metaverse, and other regulatory frontiers By Hannah Gannagé-Stewart, CDC Gaming Reports • June 1, 2022 Web 3.0 (also referred to as Web3) is the latest iteration of the World Wide Web, based on blockchain technology and incorporating concepts such as decentralization, crypto, NFTs, and the metaverse. Just as Web 2.0 came to characterise the internet we now take for granted, comprising social media, user-generated content, apps, and data monetization, so Web 3.0 stands at the precipice of … [Read more...]
Tottenham Report: To levy or not to levy By Andrew Tottenham, Managing Director, Tottenham & Co • June 1, 2022 As we get closer to the UK government releasing the White Paper on the reform of Britain’s gambling law, arguments about what should be in the reform are coming to the fore. One of the big issues being openly debated is: Should there be a levy to fund research? Or should it be entirely voluntary? Jordan Lea, Founder and CEO of Dealmeout, is quoted in an article in SBC News accusing … [Read more...]
Focus on Asia: The Philippines — Asia’s rising star By Ben Blaschke, Managing Editor, Inside Asian Gaming • June 1, 2022 Macau has for the best part of two decades been recognized as the undisputed king of Asia when it comes to gaming. And, until recently, the “next big thing” was Japan – widely viewed as the great untapped market destined to move into second place on the regional IR map. But with Macau now firmly stuck in a COVID-19 rut and Japan having done all it can to throw its IR opportunity away, there is … [Read more...]
Focus on Asia: Tourism without tourists from China By Andrew Klebanow, Co-Founder, C3 Gaming • June 1, 2022 It is hard to imagine. Three years ago, destinations across east Asia and Oceania were enjoying near record levels of tourism with visitors from the Peoples Republic of China (PRC) serving as the fastest growing and often largest source market. The pandemic brought visitation from China, as with all international tourism, to an abrupt halt. Now, as travel restrictions ease and airlines, hotels, … [Read more...]
The magical strategy of Barona By Dennis Conrad, Conrad on Casino Marketing (and the Casino Customer) • May 31, 2022 Those of you who have followed my columns over the decades know that I love Barona, which I strongly believe is the best-run and player-friendliest casino in the world. For those of you who may be unfamiliar with Barona, I’m referring to Barona Resort and Casino, the clear leader in the San Diego market. It’s the jewel of the Barona Band of Mission Indians, which operates it with its longtime … [Read more...]
Blackstone buys more than the buildings in Australia By Ken Adams, CDC Gaming Reports • May 30, 2022 Gaming regulation in Australia is going through a period of change. Under pressure from the investigations into Crown Resorts, regulatory agencies are looking to tighten procedures and scrutiny and increase fines on gaming operators. Crown has been in the crosshairs of law enforcement, regulators, and the media for six years, since a charge of illegal betting advertising and a fine in 2016. … [Read more...]
Igaming Focus: U.S. igaming — beat the clock By Jake Pollard, CDC Gaming Reports • May 24, 2022 The components are in place for U.S. online operators to start being profitable, but the race to beat the clock and economic headwinds is also on. The first quarter results season that is coming to an end has led to a familiar refrain from online betting and gaming operators whenever they were asked about timings for reaching profitability. Most gave timeframes that ranged from the end of … [Read more...]
Tribal sovereignty and the battle for Oklahoma By Ken Adams, CDC Gaming Reports • May 22, 2022 In 1987, the United States Supreme Court ruled in favor of the Cabazon Band of Mission Indians in litigation against the state of California. In simple terms, California said the Cabazon and Morongo Bands could not operate bingo games on tribal land, as commercial bingo was not legal in California. The court disagreed. Since the 1970s, tribes in Arizona, California, Florida, New York, and … [Read more...]
Kentucky Derby gifts By Bernard Kroviak, CDC Gaming Reports • May 19, 2022 The first Saturday in May saw 80-1 longshot Rich Strike win the 148th running of the Kentucky Derby with an extraordinary finishing kick. He defied his odds - the second-highest winning odds in Derby history - in doing so. For most handicappers, it was a shocking outcome. For others, it might have been the greatest day of their lives. The payoffs for his victory were large enough to verge on the … [Read more...]
DOJ suit seeking to compel Steve Wynn to register as a foreign agent is just the latest of his legal woes By John L. Smith, CDC Gaming Reports • May 18, 2022 The Department of Justice on Tuesday proved it wasn’t bluffing when it repeatedly advised former casino mogul and Republican National Committee finance chairman Steve Wynn to register as a foreign agent or face the consequences. The DOJ sued him in an effort to compel him to register under the Foreign Agents Registration Act (FARA) in the wake of the exposure of his effort to lobby the Trump … [Read more...]
Tottenham Report: How to influence without influencers By Michelle Chelsea Hembury • May 17, 2022 Section 5 of the German Interstate Treaty on Gambling (IST) regulates the advertising permitted for licensed gambling operators. However, ‘advertising’ is not defined. In the context of competition law, any statement made in the exercise of a trade, craft, or profession with the aim of promoting the sale of goods or the provision of services is considered to be advertising conduct. However, the … [Read more...]
Old wives’ tales and ancient myths By Ken Adams, CDC Gaming Reports • May 15, 2022 DraftKings announced its first-quarter results on May 6. CEO Jason Robins forecasted over $2 billion in revenue for the year. Revenue for the quarter was $417 million. In the same period, DraftKings lost $467 million, as compared to $346 million in 2021. Some would be discouraged by the loss, but not DraftKings. It has always tried to frame its narrative in terms of revenue and new players, not … [Read more...]
Igaming Focus: U.S. online casino — early days and scarcity value By Jake Pollard, CDC Gaming Reports • May 11, 2022 The online casino vertical is less visible than its sports betting counterpart but is more profitable and at a much earlier stage of development in the U.S. than in Europe. In this column we will look into the vertical and will also continue updating readers on the issues impacting the segment in coming weeks and months. The need for new gaming content is of great importance in online casino, … [Read more...]
Igaming Focus: California — The trials and tribulations By Hannah Gannagé-Stewart, CDC Gaming Reports • May 11, 2022 Last week a major proposal for online gambling in California received enough signatures (1.6 million, according to Ballotpedia) to guarantee its place on the state’s ballot in November. It means that Californians will vote on at least two competing proposals for legalised sports betting in the state later this year. Another proposal calling for in-person wagering at tribal properties and … [Read more...]
Tottenham Report: Welcome to Topsy-Turvy Land By Andrew Tottenham, Managing Director, Tottenham & Co • May 4, 2022 ICE, this year, was a slightly muted affair. The online industry was well represented, but land-based suppliers and consequently land-based operators were few and far between. However, some of the periphery networking events (drinks and canapes, etc.) did have a good concentration of representatives from this sector. A number of us “oldies” got together at one of these events, reminiscing past … [Read more...]
Tottenham Report: AML — Has the industry dropped the ball? By Hannah Gannagé-Stewart, CDC Gaming Reports • May 4, 2022 Did the industry ever catch the ball might be a more apt question. Anti-money-laundering regulations have been ramping up over the past 10 years. They've been a more frequent talking point across many regulated industries, but gambling often seems less forthcoming. Over the last month, the issue has become a bit of a theme among regulators. In France, the gambling regulator l'Autorité … [Read more...]
Stupak’s dream of a prosperous north end of the Strip is coming true By John L. Smith, CDC Gaming Reports • May 4, 2022 The late casino maverick Bob Stupak had big dreams for what he liked to think of as the north end of the Strip. As with just about everything associated with Stupak’s roller-coaster life and career, you had to look closely at the fine print of his vision. Stupak, who died in 2009 at age 67, defined the Strip as extending all the way to his gaudy Vegas World casino and his crowning glory, the … [Read more...]
My Top 10 big-picture casino-industry trends By Dennis Conrad, Conrad on Casino Marketing (and the Casino Customer) • May 3, 2022 I’ve never done a Top 10-type column on anything. You know, like the Top 10 news stories of the year. Or an “80 over 80,” the top 80 casino executives over 80 years old (it’s a small list). Or the 10 biggest casino-industry challenges in the next decade. It seems these Top 10-type lists are a little subjective and require quite a bit of guessing. However, I do admit that I have read every Top … [Read more...]
Focus on Asia: What next for the Asian junket industry? By Andrew Klebanow, Co-Founder, C3 Gaming • May 3, 2022 Macau’s gaming industry continues to face a great deal of uncertainty. The arrest and subsequent detention of Alvin Chau, the head of Suncity and the gaming industry’s largest junket promoter, in November of 2021 cast a pall over the entire casino sector and the role that junkets will play in Macau’s economic recovery. Immediately after Mr. Chau’s arrest, casino operators across the city announced … [Read more...]
Focus on Asia: Does the foreigner-only casino model work? By Ben Blaschke, Managing Editor, Inside Asian Gaming • May 3, 2022 The COVID-19 pandemic, along with the international border closures it forced, is one of a number of recent headwinds to have thrust the issue of foreigner-only casinos into the spotlight. And while it is perhaps too much of a stretch to make the blanket claim that the foreigner-only casino model is doomed, the health crisis certainly lends weight to the argument that such a path is shrouded in … [Read more...]
Sports Town USA: Welcome to the home of the Las Vegas Desert Dogs By Ken Adams, CDC Gaming Reports • May 1, 2022 Las Vegas has a new sports team, the Desert Dogs, an expansion team and the 15th team in the National Lacrosse League. It lists some well-known sports figures among its owners, including the Great One himself, Wayne Gretzky. The valley is now home to professional basketball, football, hockey, soccer, and lacrosse teams and a Minor League Baseball team. It is possible that the Oakland Athletics … [Read more...]
At Resorts World, this taco stand still has plenty of Vegas chips By John L. Smith, CDC Gaming Reports • April 27, 2022 With a high degree of confidence, last week Resorts World Las Vegas issued a statement flatly denying allegations that a convicted felon owned a piece of the Tacos El Cabrón restaurant located in the Strip’s newest casino kingdom. The character in question, David Stroj, was accused in a 2015 federal indictment of heading what the FBI called a $10 million international gambling ring that … [Read more...]
Draft cements the marriage of Las Vegas and NFL By Tim Dahlberg, Associated Press • April 27, 2022 LAS VEGAS (AP) - The NFL brings the traveling circus that is its draft to a city where nothing - including 300-pound football players posing with showgirls and circus clowns above the Bellagio hotel fountains - is too outlandish. As the draft begins Thursday, the marriage between the league and the gambling town it demonized for so long is nearly complete, with only a Super Bowl in 2024 … [Read more...]
Igaming Focus: ICE 2022 — Shifting spaces By Jake Pollard, CDC Gaming Reports • April 26, 2022 The absence of numerous land-based suppliers at this year’s ICE event in London could presage a further spread of digital suppliers on the expo floor. The return of the ICE trade show and conference in London from 11-14 April after a two-year hiatus caused by the pandemic was most welcome by all those who attended. The event had long been trailed by industry observers and after … [Read more...]
Could a mobster ghost live under Resorts World Las Vegas? By Ken Adams, CDC Gaming Reports • April 24, 2022 Resorts World Las Vegas opened in June 2021. It was the first resort on the Strip in over 10 years. The $4.3 billion resort was built on the site of Boyd Group’s Echelon Place, a victim of the Great Recession. Boyd had torn down the once-famous Stardust Resort in 2007 with the intention of building a 21st century resort. Construction had begun, but stopped in 2008. In 2013, Boyd sold the … [Read more...]
Tottenham Report: Hush! What’s that noise? By Andrew Tottenham, Managing Director, Tottenham & Co • April 20, 2022 A few weeks ago, I wrote a piece about bias and noise in decision making and focussed more on bias than on noise. In this commentary, I explain in greater detail what noise is, why it is important, and what we might be able to do about it. To recap, bias is the tendency to consistently skew a decision in a certain direction. A judge may tend to sentence people found guilty to longer sentences … [Read more...]
After the pandemic, the guard is changing By Ken Adams, CDC Gaming Reports • April 17, 2022 The COVID pandemic was a watershed, a tipping point, or possibly even a black-swan event. It certainly was rare and unexpected and its impact profound. The world after coronavirus is different in fundamental ways than the world before, or so it seems. Some of the changes may turn out to be temporary, while others will be with us for a long time. Understanding which is long-term and which is … [Read more...]
Accused gambling cheater increases his wager in fight with Clark Counry DA, Resorts World By John L. Smith, CDC Gaming Reports • April 13, 2022 Facing increased charges of casino cheating and theft following his April 7 preliminary hearing in Las Vegas Justice Court, gambler R.J. Cipriani is taking a novel approach to his defense. He’s going on offense. Cipriani, who also goes by “Robin Hood 702,” has written a letter to Nevada Attorney General Aaron Ford, claiming he is getting a raw deal from Clark County District Attorney Steve … [Read more...]
Igaming Focus: Is the U.S. at risk of repeating the mistakes of the UK? By Hannah Gannagé-Stewart, CDC Gaming Reports • April 12, 2022 It’s the first day of ICE London and it’s clear the ICE Vox conference panelists have been raring to get back on a stage. The thrill of a live audience had many of them extremely animated. Lobbyist with Princeton Public Affairs Group Bill Pascrell III (son of New Jersey senator Bill Pascrell II) was one such panelist. Taking the mic during the last session before lunch, Chasing … [Read more...]
Igaming Focus: From ground control to total control By Jake Pollard, CDC Gaming Reports • April 12, 2022 The B2B gaming space is fraught with pitfalls, but Pala Interactive, and most recently IGT and iSoftBet, once again show how important tech control is to U.S. corporates. At the highest level, the online betting and gaming space in the U.S. is about control: Control of the technology, of the value chain, of the infrastructure that underpins all the different components and enables them to … [Read more...]
Baseball + Horses = Memories + Hope By Bernard Kroviak, CDC Gaming Reports • April 10, 2022 Now that the baseball lockout is mercifully over and the Kentucky Derby is around the corner, with the grass beginning to turn green and the days to lengthen and soften, I think it's time to talk about how great this time of year really is. Back in the 1930s, my Aunt Nellie came to the United States from Poland. She knew very little about sports – indeed, about most things American – but she … [Read more...]
Tottenham Report: Celebrities and sports personalities axed from gambling ads By Hannah Gannagé-Stewart, CDC Gaming Reports • April 6, 2022 After prolonged calls by campaigners for the UK government to tighten restrictions on gambling advertising, this week saw the news that sports people and celebrities would be banned from appearing in the industry’s advertising campaigns. For years, football managers such as José Mourinho, players like Cristiano Ronaldo and various celebrities have been splashed across gambling ad campaigns in a … [Read more...]
I am your customer (COVID edition) By Dennis Conrad, Conrad on Casino Marketing (and the Casino Customer) • April 5, 2022 I am your customer. I know I haven’t visited your casino very much in the last two years. Or maybe I haven’t visited you at all. Part of it has been that you weren’t even open for several months. But mainly, I haven’t felt comfortable visiting a casino yet. This COVID thing has been pretty scary. I am your customer. I noticed when COVID first hit that you enacted many procedures to make me feel … [Read more...]
Focus on Asia: From hero to zero — Macau’s Covid conundrum By Ben Blaschke, Managing Editor, Inside Asian Gaming • April 5, 2022 From exuding outward messaging of hope, the tone has changed for Macau’s gaming operators in recent months. On Melco Resorts and Entertainment’s 4Q21 earnings call in early March, Chairman and CEO Lawrence Ho was under no illusions as to the challenges facing the concessionaires in 2022 as Macau awaits permission from mainland China to open up its borders. Asked his thoughts on when … [Read more...]
Focus on Asia: Casinos in Thailand — Will policy makers get it right? By Andrew Klebanow, Co-Founder, C3 Gaming • April 5, 2022 A flurry of recent news reports has once again brought to the forefront of discussion the prospect of integrated casino resort development in Thailand. An announcement by the Thai Parliament in December of 2021 that the Legislature approved the creation of a committee to explore the authorization of one or more integrated casino resorts was followed by reports that the committee had indeed met … [Read more...]
Trying to hold on to the best of 2021 in the midst of war and inflation By Ken Adams, CDC Gaming Reports • April 3, 2022 Boyd and Caesars discussed their business strategies with analysts recently. The message was the same in both cases: the pandemic is winding down, but Boyd, Caesars, and most other gaming companies are trying to maintain the margins they achieved during the pandemic. It has been two years since the world went into lockdown over COVID-19. The gaming industry in the United States followed the … [Read more...]
The game of Chicago Casino has officially begun By Ken Adams, CDC Gaming Reports • March 27, 2022 Chicago is going to get a casino, eventually. The process of selecting a bidder, granting a license, and building the project is in its early stages; a grand opening is not likely before 2025. A casino in Chicago was part of legislation to expand gaming that became law in 2019. The act authorized six new land-based casinos, including one in Chicago, plus additional gaming positions in existing … [Read more...]
Igaming Focus: Utilize this — the strange rise of fan tokens By Jake Pollard, CDC Gaming Reports • March 24, 2022 NFTs, fan tokens and crypto exchanges are all key components in how Web3 is currently taking shape, but in the case of fan tokens their rise in profile also leads to questions around what purpose they actually serve. Fan tokens have become an intrinsic and very high profile component of the sporting world over the past few years and are at the forefront of sports clubs’ sponsorship and … [Read more...]
Tottenham Report: ¡Estraperlo! By Andrew Tottenham, Managing Director, Tottenham & Co • March 23, 2022 It is not often that gambling is blamed for major upheavals and certainly less often that it has a role in starting a civil war. Daniel Strauss, a Mexican of German origin, and his business partner, Joachim Perlowitz, invented a game called Straperlo. Straperlo was named using the first few letters of each of the inventor´s names (STRauss and PERLOwitz) or possibly it also included the wife of … [Read more...]
Tottenham Report: Germany — Another gift for black-market operators By Michelle Chelsea Hembury • March 23, 2022 In the middle of summer 2021, the new Interstate Treaty on Gambling appeared on the scene of German regulations. The objectives of the regulations can be read right at the beginning under Sec. 1 of the Treaty: “In addition to the protection of players and minors, as well as the prevention of gambling addiction, it was a particular concern of the German states to move the black market towards a … [Read more...]
The Tahoe Biltmore is going away and so are its ghosts By Ken Adams, CDC Gaming Reports • March 20, 2022 The Tahoe Biltmore is set to be bulldozed in the coming months. It is going away to make room for a new luxury resort. The property first opened in 1947 and has operated as a hotel-casino on the north shore of Lake Tahoe ever since. The plans call for a resort with condominiums, a hotel, and a casino. EKN Development says the project will be finished sometime in 2025. The property was built … [Read more...]
Sports gambling glitters, but all that glitters is not gold By Ken Adams, CDC Gaming Reports • March 13, 2022 Sports betting is sweeping the nation. It fills the media and is winning legislative battles in state after state. It has generated millions of gamblers and dozens of new companies serving the market. And it has all been in a little less than four years. It is the most incredible phenomenon in the history of legal gambling in the United States. The story of sports betting is a multifaceted … [Read more...]
Igaming Focus: Can content become king? By Jake Pollard, CDC Gaming Reports • March 10, 2022 As investor pressure grows, operators are gradually shifting towards content-driven acquisition models. Patience is a virtue, the saying goes, but there is no question that even saints would be tried by the factors impacting U.S. online sports betting operators’ profitability at the moment. Of course I am referring to the long and winding path that operators are taking to reach profitability. … [Read more...]
Igaming Focus: Igaming marketing budgets start to feel the pinch By Hannah Gannagé-Stewart, CDC Gaming Reports • March 10, 2022 The last few months have started to reveal casualties in the battle for U.S. igaming market share. Last week, Wynn Interactive boss Vincent Zahn told the Nevada Gaming Control Board that it was moving to an affiliate marketing model due to the “irrational” cost of customer acquisition. And Zahn is far from the only CEO starting to feel the heat as he fights to claim a slice of what The Wall … [Read more...]
Congressional Slot Club: Amid wagering proliferation, raising the federal jackpot-tax reporting threshold makes sense By John L. Smith, CDC Gaming Reports • March 9, 2022 Call it a sign of the times and a different kind of slot club. The gaming industry’s allies in Congress are forwarding legislation designed to raise the IRS’s slot-jackpot reporting threshold from $1,200 to $5,000. Given the current state of gambling in America, with legalized sports betting spreading to state after state and fierce competition for megaresort casinos, this sounds like a natural … [Read more...]
Tottenham Report: Noise and bias lead to poor decision making By Andrew Tottenham, Managing Director, Tottenham & Co • March 8, 2022 Tom Waterhouse, Chief Investment Officer WaterhouseVC.com, and I will be speaking at the International Casino Conference, part of ICE2022 on 11 April; our subject is, “Driving Better Investment Decisions for the Casino Floor”. As a prelude to the event, I thought I would give you some of my thoughts around decision making, not necessarily investment decisions, and how to get better at making … [Read more...]
Tottenham Report: Gambling reforms announced in Italy — Where from here? By Valérie Peano • March 8, 2022 To help recover from the heavy impact of the pandemic on the gambling sector in Italy, the Italian Ministry of Finance’s sub-secretary in charge of gambling has announced significant gambling reforms to be undertaken in the next 12-18 months. Indeed, the lockdown measures resulting from the pandemic had a dramatic impact on the land-based gambling industry, resulting in a serious contraction … [Read more...]
Resorts World navigates a tumultuous new world on Strip’s north end By John L. Smith, CDC Gaming Reports • March 2, 2022 If Resorts World President Scott Sibella was concerned about the progress the Strip’s newest casino is making, he concealed it well during Wednesday’s Nevada Gaming Control Board meeting. Sibella struck a confident, but realistic, chord before the gaming regulators during the licensing hearing of Resorts World executives. Touting its blend of technology and luxury, the $4.3 billion, … [Read more...]
The Rad Bar — If I owned a video poker bar By Dennis Conrad, Conrad on Casino Marketing (and the Casino Customer) • March 1, 2022 There are a lot of casinos in the United States. Big casinos. Small casinos. Las Vegas-style casinos. All kinds of tribal casinos. Riverboat casinos. Racetrack casinos. When I started in the business more than 45 years ago, I never anticipated that “casinos” would become so widespread. Talk about catching the wave of an industry boom! But it isn’t only casinos that dot the U.S. gambling … [Read more...]
Focus on Asia: Macau’s missed opportunity By Ben Blaschke, Managing Editor, Inside Asian Gaming • March 1, 2022 In the February issue of Inside Asian Gaming, David Green noted the absence of any legislation around sports betting among amendments to Macau’s gaming law currently being debated by the Legislative Assembly. This suggests there will be no change to the status of legal sports betting in Macau, which under the current gaming law is not permitted in the SAR’s casinos because it is classified as a … [Read more...]
Focus on Asia: Will Korea’s foreigner-only casino industry survive the pandemic? By Andrew Klebanow, Co-Founder, C3 Gaming • March 1, 2022 Over the past twelve months, the pandemic has impacted gaming jurisdictions across the globe in varying and often dramatic degrees. Collectively, the casinos in the United States have enjoyed near record revenues. Those properties in the Philippines, while negatively impacted by the loss of international visitation and periodic limits on capacity, also managed to survive reasonably well, owing in … [Read more...]
Gambling industry unites behind Ukraine By Hannah Gannagé-Stewart, CDC Gaming Reports • March 1, 2022 The European gambling industry, and further afield, has united this week to support not only their Ukrainian colleagues but everyone affected by Russian president Vladimir Putin's full-scale invasion of his neighbour. The images and stories from inside Ukraine have been nothing less than harrowing since war broke out on February 24, but they have galvanised a global movement to stand shoulder … [Read more...]
Sheldon left the building, but his shadow is still on the wall By Ken Adams, CDC Gaming Reports • February 27, 2022 The Venetian, Palazzo, and Venetian Expo Center no longer belong to the Las Vegas Sands Corporation (LVS) and the Adelson family. Sheldon Adelson and his company leave a 40-year legacy in Las Vegas that began with COMDEX in the 1970s and ends with the Venetian in 2022. In 1988, Sheldon Adelson purchased the famous Sands Hotel, the playground of Frank Sinatra and his Rat Pack. The next year he … [Read more...]
Bottom line: Smoking in casinos costs too much By Mark Gruetze, CDC Gaming Reports • February 26, 2022 The latest analysis of how a smoking ban would affect New Jersey casinos boils down to one bottom-line conclusion: “Casino management has found – based on their trove of internal analytics – that smokers have a higher value than non-smokers,” says the study by Spectrum Gaming Group. That’s strictly a dollars-and-cents value, of course, based on interviews with operators and proprietary revenue … [Read more...]
Igaming Focus: First Nations claims present Ontario with first major regulatory problem By Jake Pollard, CDC Gaming Reports • February 24, 2022 Ontario’s upcoming regulation presents Entain and its newly-acquired sportsbook Sports Interaction with a serious dilemma and raises questions about the market before it has even launched. The upcoming regulation of the online sports betting and gaming industry in Ontario is a welcome addition to the number of regulated jurisdictions in North America. As has been widely reported, great things … [Read more...]
Bad Bob Baffert singled out for scorn in an industry riddled with scandal By John L. Smith, CDC Gaming Reports • February 23, 2022 Suddenly, Bob Baffert is bad for business. For those who follow thoroughbred racing, the very thought is hard to imagine. But there it is: The Baffert-trained Medina Spirit on Monday was stripped of his 2021 Kentucky Derby win and Baffert himself was suspended for 90 days. Mandaloun was declared the new winner following a ruling by the Kentucky Horse Racing Commission stewards. It was the … [Read more...]
Reno’s favorite, the Gold ‘N Silver, is at the center of a debate By Ken Adams, CDC Gaming Reports • February 21, 2022 Punxsutawney Phil had just seen his shadow and retreated when the news broke: The Gold ‘N Silver Inn sold to Jacobs Entertainment for $6.3 million. The owner of the restaurant, Jeffry Paine, said he leased the business back; the lease allows Paine to operate the restaurant for two years. Jacobs bought the land as part of his master plan for the area. Jacobs Entertainment now owns about 20 city … [Read more...]
Ah, February, the month of love and mating By Bernard Kroviak, CDC Gaming Reports • February 17, 2022 There are two important things to know about the mating of thoroughbred racehorses. The first is that the gestation period of mares in foal is essentially a year, about 11 to 12 months on average. The second is that all foals born in 2022 will turn one year old for racing purposes on the same date, January 1, 2023, no matter when they are actually born. Why these two facts are worth noting is that … [Read more...]
Sports betting king Walters resurfaces in insightful pre-Super Bowl interview By John L. Smith, CDC Gaming Reports • February 16, 2022 Sports betting legend Billy Walters makes headlines wherever he goes. Sometimes it’s on the sports pages, sometimes the news pages. The controversial gambler and developer, whose prison sentence for insider trading was commuted in the final hours of Donald Trump’s presidency, has kept a low profile in recent months. That changed on Super Bowl Sunday in an interview with Brent Musburger on the … [Read more...]
Tottenham Report: The race to regulate By Hannah Gannagé-Stewart, CDC Gaming Reports • February 15, 2022 The UK’s racing industry this week is fighting a war of words across various sections of the media about the progressively distant spectre of the jurisdiction’s Gambling Review. The Racing Post carries numerous articles on the subject, with industry spokespeople warning that threats to impose affordability checks and a ban on advertising could be the death knell for one of the UK’s favourite … [Read more...]
Tottenham Report: Gambling, speculation, or investment — What are the differences? By Andrew Tottenham, Managing Director, Tottenham & Co • February 15, 2022 Last September, an independent government review of the circumstances surrounding the collapse of Football Index found failing both in the actions of the Gambling Commission and the Financial Conduct Authority (FCA), the UK’s financial regulator. The GC had some concern that, due to changes made by the management of Football Index, the product was possibly a financial instrument and should … [Read more...]
Who was that masked man? By Ken Adams, CDC Gaming Reports • February 13, 2022 On Thursday February 10, Steve Sisolak, governor of Nevada, held a press conference to announce the end of the universal mask mandate in Nevada, effective immediately, minus exceptions in healthcare facilities, at airports, and on public transportation. “I’m hopeful that we’re in a good position to drop this, to give people back some freedom,” Sisolak said. “Everyone wants to get back to their … [Read more...]
Super Bowl in Los Angeles provides learning opportunity for Las Vegas By John L. Smith, CDC Gaming Reports • February 9, 2022 The December announcement that Las Vegas and its shimmering Allegiant Stadium had been chosen to host Super Bowl LVIII in 2024 was widely heralded as a boon for the economy and yet another sign that the city long snubbed by professional team sports had at last made the grade. That’s something to cheer about, of course. It promises to provide a big economic boost and few places in the world … [Read more...]
Igaming Focus: Will the U.S. be the proving ground for crypto gambling? By Hannah Gannagé-Stewart, CDC Gaming Reports • February 8, 2022 While cryptocurrencies are still a regulatory grey area in most jurisdictions, their incorporation into the igaming industry has been rapid and will likely continue at pace. Crypto gambling operators are, as yet, kept largely at bay in the UK, but the U.S. is showing signs of greater tolerance towards crypto, even if the financial regulators are yet to fully get a grasp of it. In Wyoming, … [Read more...]
Igaming Focus: Crypto regulation and further gaming integration on the cards By Jake Pollard, CDC Gaming Reports • February 8, 2022 Regulation of crypto assets is increasingly likely and won’t affect ties with the online betting and gaming industry. The increased potential for regulation of crypto assets is much discussed, and with the UK government's recent announcement that it plans to introduce legislation “to address misleading crypto asset promotions” to bring them “into line with other financial advertising”, it … [Read more...]
Debunking esports and casino myths By Ben Fox, Casino Esport Conference • February 7, 2022 What have the critics of esports and casinos been saying? All the conclusions I have heard seem to have the same underlying sentiment: "When millennials get to be in their 40's they will become slot players" "All gamers are 'hoodie' wearing teens." "They spend all their time in basements and are anti-social." "Gamers are not Gamblers." (my personal favorite) I can add many … [Read more...]
Stop eroding player value By Dennis Conrad, Conrad on Casino Marketing (and the Casino Customer) • February 1, 2022 Well, this will ruffle some feathers. But somebody has to say it. We need to stop squeezing our casino customers. Some of this “erosion of player value” has happened slowly, but methodically, over time. But much of the squeeze has occurred more recently, especially during the pandemic. Let’s take a look at just some of the ways that over the last decade or two, we’ve been sticking it to … [Read more...]
Focus on Asia: The Olympics begin under China’s zero-Covid policy By Andrew Klebanow, Co-Founder, C3 Gaming • February 1, 2022 The start of the 2022 Winter Olympics in Beijing will bring into focus the People’s Republic of China’s (PRC) zero-Covid policy in front of the world’s largest international television audience. Until now, few people outside of East Asia and the international business community were aware of the PRC’s approach to mitigating the spread of Covid 19, how that policy influences everyday life, and how … [Read more...]
Focus on Asia: In search of the gold standard By Ben Blaschke, Managing Editor, Inside Asian Gaming • February 1, 2022 The contrasting approaches to gambling regulation being taken by authorities in Singapore and Australia this year highlight just how challenging it can be to establish a model suitable for each unique jurisdiction. In Singapore, the process is now well underway to merge the current Casino Regulatory Authority (CRA), which oversees Singapore’s two casinos, and the Gambling Regulatory Unit, which … [Read more...]
The Top 20 Casino Gambling Scams of the Century (Part 2) By Willy Allison, World Gaming Protection Conference • January 31, 2022 This is part 2 of a two part series - if you missed the first ten scams, click here to catch up. Two years ago, Bill Zender and I sat down and started going through our notes from the past 20 years on casino scams. Our goal was to compile our “Top 20” scams for a presentation at the 2020 World Game Protection Conference. A kind of retrospective of the last 20 years where we could share our … [Read more...]
As always, Macau is shrouded in mystery By Ken Adams, CDC Gaming Reports • January 30, 2022 Casino stocks traded on the Hong Kong exchange have been on a roller coaster in the last couple of weeks. They had been trending down since the pandemic in China cut into their revenue. However, lately they seemed to be recovering. One analyst speculated that the stocks had hit rock bottom. He thought the bad news from China was already built into the price. It appeared he was right — for a day … [Read more...]
The Top 20 Casino Gambling Scams of the Century (Part 1) By Willy Allison, World Gaming Protection Conference • January 27, 2022 Two years ago, Bill Zender and I sat down and started going through our notes from the past 20 years on casino scams. Our goal was to compile our “Top 20” scams for a presentation at the 2020 World Game Protection Conference. A kind of retrospective of the last 20 years where we could share our findings and lessons learned with students of the games. The conference never took place. Editor's … [Read more...]
Adams Analysis: A heightened need for responsibility By Ken Adams, CDC Gaming Reports • January 27, 2022 Publisher's note: The Adams Analysis is a quarterly, premium-subscriber only analysis of gaming news and trends by Ken Adams. Due to this quarter's important subject manner, we have decided to open it up to be read by all. If you like what you read, sign up for a free trial. Gambling is ubiquitous in human society. Probably because it can be very exciting. The excitement is generated by the … [Read more...]
Kizzang fraud: High rolling Las Vegas hustler Alexander gets more free time before sentencing By John L. Smith, CDC Gaming Reports • January 26, 2022 The federal government appears in no rush to put video game-promoter and Las Vegas casino high roller Robert Alexander behind bars nearly two years after he pleaded guilty to fraud charges in connection with his multimillion-dollar Kizzang investment scam. Alexander, 51, on Wednesday saw his sentencing date moved to at least Aug. 16 in U.S. District Judge Andrew Carter Jr.’s courtroom in New … [Read more...]
Tottenham Report: From bubbles to gambling hells By Andrew Tottenham, Managing Director, Tottenham & Co • January 25, 2022 The 17th and 18th centuries were times of great social upheaval. In England, a fight between the supremacy of Parliament and the monarchy led to the rise of Oliver Cromwell and the beheading of Charles I (1649). In America, the War of Independence (1775–1783) freed the colonies from the tyranny of the English Crown and in France, the populace revolted (1789–1799), beheading many of the aristocracy … [Read more...]
Igaming Focus: Taxes are certain, but not online casino By Jake Pollard, CDC Gaming Reports • January 25, 2022 New York’s 51% sports betting tax rate will give operators nightmares for some months yet and once again show why online casino is such a key product in U.S. igaming. Sports betting continues to dominate the headlines, and with New York volumes showing the potential on offer once the biggest U.S. jurisdictions are regulated, this is understandable. But a more detailed look into figures recently … [Read more...]
The last vestiges of the 1970s’ casino industry leaving Reno By Ken Adams, CDC Gaming Reports • January 23, 2022 Several articles have appeared in the Reno Gazette Journal this month. One reported that the Bonanza Inn is for sale and will likely be torn down. Another described a new Carano-family restaurant opening at Harrah’s Lake Tahoe. A third announced an auction for the fixtures and decorations of the Little Nugget in downtown Reno. Finally, an article indicated that Clear Capital, a real estate … [Read more...]
What do you hope for? By Bernard Kroviak, CDC Gaming Reports • January 20, 2022 Horse racing is like a lot of other aspects of life in that, at year’s end, many publications, writers, websites and television stations produce a retrospective of the events of the past 12 months. If you want the highlights of horse racing in 2021, I suggest visiting Bloodhorse.com for that information. I’d instead like to look forward and give you a few of my personal impressions of the upcoming … [Read more...]
With billions in the balance, lawsuit against Las Vegas Sands in Macau may finally reach day of reckoning By John L. Smith, CDC Gaming Reports • January 19, 2022 The long, bruising litigation pitting Asian American Entertainment Corp. against Las Vegas Sands in Macau appears to be finally running its course after a two-decade battle over a soured partnership that stretches all the way back to the beginning of the casino gold rush in the former Portuguese protectorate. Unless there is another delay – a big “if” in this protracted legal battle -- closing … [Read more...]
A dilemma in Iowa By Ken Adams, CDC Gaming Reports • January 17, 2022 The Iowa Racing and Gaming Commission is considering granting an additional casino license proposed for Cedar Rapids. Opening the door to the possibility, in November 2021, 55 percent of the voters in the county approved the idea. Now Cedar Rapid’s mayor and city manager have taken up the cause and are lobbying the commission for a license. To assist it, the regulatory agency commissioned two … [Read more...]
Gambler’s bankruptcy fraud lawsuit gets sticky By John L. Smith, CDC Gaming Reports • January 12, 2022 High-rolling gambler Brandon Sattler continues to take big hits in U.S. Bankruptcy Court in Las Vegas in an ongoing fraud litigation filed by attorneys for jilted investors in his defunct SattCom Video, LLC. The accusations are ugly. Plaintiffs James Russell, Grant Whitcher, and Julie Russell allege, through attorney Mark M. Weisenmiller, that Sattler conned them into investing in SattCom Video … [Read more...]
Igaming Focus: Is 2022 the year that European affiliates march on the U.S.? By Hannah Gannagé-Stewart, CDC Gaming Reports • January 11, 2022 As more states legalise online gambling, the opportunities for plucky European affiliates are broadening in the U.S. Established in 2006, affiliate Gambling.com is the latest to make a notable push into U.S. markets. This week it has confirmed it is poised to enter the newly legalised New York online market, having made a strategic acquisition at the end of 2021, purchasing U.S.-facing fantasy … [Read more...]
Igaming Focus: New York state of mind By Jake Pollard, CDC Gaming Reports • January 11, 2022 It’s very early days in New York, but sportsbooks in the state will have to turn to core competencies to be profitable there. It’s finally here. New York, one of the big four states in the U.S., saw BetRivers, DraftKings, FanDuel and Caesars go live this weekend with regulated online and mobile wagering. Another five operators – BetMGM, PointsBet, WynnBet, BallyBet and, when it is ready, … [Read more...]
Tottenham Report: The value of external consultants By Andrew Tottenham, Managing Director, Tottenham & Co • January 5, 2022 Happy New Year! Let us hope that this is the year we find a way to live with the coronavirus without too much disruption to our daily lives. In the early days of my consulting career, I was asked by one of the (then) big-five auditors to review the internal controls of a public company and determine whether or not the control environment was sufficiently robust for the auditors to rely on the … [Read more...]
Tottenham Report: Debate heats up ahead of Gambling Act review White Paper this spring By Hannah Gannagé-Stewart, CDC Gaming Reports • January 5, 2022 The first quarter of this year should see publication of the UK government’s Gambling Act review White Paper. It was due late last year, but recent reports suggest the government has put it on hold until after February, when the Gambling Commission of Great Britain (GC) announces who has been awarded the next National Lottery contract. It has been a long journey to this point. The current … [Read more...]
Loved or hated, Harry Reid played an important role in protecting casino-industry interests By John L. Smith, CDC Gaming Reports • January 5, 2022 Harry Reid never wore a black-and-white dealer’s uniform or supervised a swing shift, but he was a constant presence in the casino industry for nearly half a century. Reid, the former U.S. Senate Majority Leader who died last week at age 82 following a long fight with pancreatic cancer, is being remembered across the Silver State and far beyond for his impact on politics at the highest levels. … [Read more...]
What? You’re still alive? By Dennis Conrad, Conrad on Casino Marketing (and the Casino Customer) • January 4, 2022 Yep. I’m back. Now I realize that will make some of you CDC Gaming Reports readers happy. Others will say, “Oh no, not that guy.” And more will wonder, who the hell are you and where are you back from? So, for you readers who know me or know of me, indulge me in a little back story. I’m Dennis Conrad and I’ve been in the gaming industry for 47 years. I realize that makes me as likely … [Read more...]
Harry Reid was one of us By Ken Adams, CDC Gaming Reports • January 2, 2022 Harry Reid died just days before the end of 2021 and just days after the airport in Las Vegas, McCarran International, become Harry Reid International in his honor. Harry was unwell and isolating, so he could not be there, but he said it was the greatest honor of his life. Reid was a veteran of 50 years of Nevada politics. He served in the state senate, as lieutenant governor, chairman of the … [Read more...]
AGA Year in Review By Bill Miller, President, American Gaming Association • December 28, 2021 Dear Gaming Colleague, Our industry has much to be thankful for as we close out the year. We began 2021 cautiously optimistic about our continued reopening, and 12 months later, we’re celebrating the highest-grossing commercial gaming revenue year of all time. I struggle to think of an industry hit so hard by the pandemic that recovered in such a compelling way. That’s a testament not only … [Read more...]
Focus on Asia: Transportation infrastructure in SE Asia and its impact on casino development By Andrew Klebanow, Co-Founder of C3 Gaming • December 28, 2021 Transportation infrastructure has long played a critical role in the success of casino development. This has been demonstrated in jurisdictions throughout Asia. Macau is the region’s best example. Ferries bring patrons to the city from throughout the Pearl River Delta. Once they disembark, an efficient road and bridge network, coupled with casino shuttle busses, quickly brings visitors to … [Read more...]
Focus on Asia: Investing in the future By Ben Blaschke, Managing Editor, Inside Asian Gaming • December 28, 2021 I recently began buying up shares in a small handful of casino and integrated resort companies across Asia-Pacific. Nothing to get too excited about, mind you – I won’t be retiring in the Bahamas anytime soon – but if there is one thing I’ve learned in my years doing this job it’s that nothing in our industry is ever as good or bad as it seems. Right now, as we welcome in the New Year, … [Read more...]
Amazon and Netflix clones find a home in gaming By Ken Adams, CDC Gaming Reports • December 26, 2021 It is no secret to anyone paying attention to the gaming industry in the United States that 2021 is a record year. Every jurisdiction has reported more revenue in 2021 than in 2020 and most reported more than in 2019. That is the most significant comparison, as 2019 was itself an all-time record year and 2020 was plagued by closures and restrictions. Through 10 months in 2021, gaming revenue is … [Read more...]
Igaming Focus: 2021 review — Sports betting and startups to continue on their paths, crypto to make its entry By Jake Pollard, CDC Gaming Reports • December 21, 2021 Sports betting is set to continue on its upward trajectory next year, as are igaming startups. And look out for crypto’s grand entrance on the OSB scene in 2022. The wave of regulation that saw sports betting bills adopted across many states in 2020 has provided the regulatory impetus that has enabled U.S. operators to push on in 2021. In the process, the industry has achieved a level of … [Read more...]
Crown playing croquet with the Queen of Hearts By Ken Adams, CDC Gaming Reports • December 19, 2021 After a long stream of bad news, Crown Resorts finally received some good: It is going to open its new Sydney casino early next year. Getting to opening day has been a long, challenging, and expensive ($1.7 billion) process. The project was first proposed by James Packer in 2012 and the groundbreaking took place in 2014. The hotel opened in December 2020 and if all goes according to plan, it … [Read more...]
Tottenham Report: Bottom line and further anticipation — An eventful year in the German gambling markets By Michelle Chelsea Hembury • December 15, 2021 The entry into force of the new Interstate Treaty on Gambling 2021 ('IST2021') on 1 July 2021 in Germany was anticipated by the industry with great expectations. For the first time, licences for the organisation of virtual slot machines, online poker, and online casino games were to be granted, in addition to sports betting. But the closer the deadline in July came, the more impenetrable the web … [Read more...]
Tottenham Report: A good reputation is more valuable than money — Pubillius Syrus, 85 – 43 BC By Andrew Tottenham, Managing Director, Tottenham & Co • December 15, 2021 YouGov, the polling company, regularly surveys about 2,000 people in Great Britain to determine the public’s attitudes to various industries (Northern Ireland excluded). The question they ask is, “How favourable or unfavourable do you feel about each of the following sectors in the UK?” Of those they asked, 50% said that supermarkets were “very or somewhat favourable”, pharmaceutical … [Read more...]
Books for gamblers in season By John L. Smith, CDC Gaming Reports • December 15, 2021 In August, when Caesars Entertainment spinoff VICI Properties announced its $17 billion acquisition of MGM Growth Properties, it was yet another reminder of how much the great Las Vegas casino poker game has grown over the years. It was a colossal deal made by a company so large and swift moving, it would have been hard to imagine just a few years ago, given Caesars Entertainment’s bruising … [Read more...]
Horses, Dogs, and George By Bernard Kroviak, CDC Gaming Reports • December 12, 2021 (Editor's Note: This piece was written prior to the tragic death on December 6th of 2021 Kentucky Derby winner Medina Spirit following a workout at Santa Anita Park.) The 2021 Breeders’ Cup World Championships concluded at Del Mar a couple of weeks ago, and my thoughts on these fabulous races can’t help but start with the somewhat shocking fact that two of the biggest favorites, the Bob … [Read more...]
Igaming Focus: Is Evolution heading back to the dark ages? By Hannah Gannagé-Stewart, CDC Gaming Reports • December 7, 2021 Swedish live casino supplier Evolution Gaming has seen $3bn wiped off its share value after rumours started circulating that it was operating in jurisdictions which prohibit gambling. Then on December 2 news broke of a large-scale bust of a crypto gambling ring in Vietnam. Some of those arrested claimed they had been working as affiliates for the company, sending it traffic from … [Read more...]
Igaming Focus: Sports betting — when simplicity clashes with responsibility By Jake Pollard, CDC Gaming Reports • December 7, 2021 The regular warnings about how the U.S. online betting and gaming industry must ensure the highest standards of responsible gambling are encouraging, but also contradict many executives’ comments around simplifying sports betting products. The focus on responsible gambling and player safety in the U.S. was one of the most encouraging messages that could be heard from the many panelists … [Read more...]
Focus on Asia: White knight or white elephant? By Ben Blaschke, Managing Editor, Inside Asian Gaming • November 29, 2021 On the surface at least, it appears the turbulent story of Imperial Pacific International and its troubled Saipan casino, Imperial Palace, is nearing its sunset. Yet even as receivers start auctioning off the company’s gaming equipment to pay off some of its debts, there remain more questions than answers. For the residents of Saipan – the largest island of the U.S.-ruled Commonwealth of the … [Read more...]
Focus on Asia: Possible impacts from China’s Zero Covid policy By Andrew Klebanow, Co-Founder of C3 Gaming • November 29, 2021 As international travel between Asian nations begins to resume, casino operators in a number of jurisdictions have become cautiously optimistic. The absence of foreign visitors, particularly in those countries that prohibit residents from gambling, has been particularly hard on casino operators in South Korea, Cambodia and Vietnam. The hope is that, with the resumption of international travel, … [Read more...]
A decade into the Massachusetts Expanded Gaming Act By Ken Adams, CDC Gaming Reports • November 28, 2021 It has been 10 years since Massachusetts Governor Deval Patrick signed the Expanded Gaming Act; to be precise, it was on November 22, 2011. The Act permitted three casino-resort licenses and one racetrack with slot machines, each to be in a separate region. Ten years later on the 22nd of November, two casinos and one racino are open. The third license has not been awarded. Since the first … [Read more...]
Igaming Focus: From OSB to online destinations – turning vision into reality By Jake Pollard, CDC Gaming Reports • November 22, 2021 Flutter Entertainment’s buyout of Tombola harks back to simpler igaming times, but for the likes of DraftKings, ESPN or Fanatics, the direction of travel is clear. There was something oddly reassuring about Flutter Entertainment’s acquisition of the online bingo specialist website Tombola for £402m/$540m last week. In an industry dominated by the ‘next big thing’ and with many of the companies … [Read more...]
Smoking, buggy whips, and the future By Ken Adams, CDC Gaming Reports • November 21, 2021 In January 1964, the Surgeon General of the United States issued a report on smoking and public health. The report concluded that smoking was harmful to a smoker’s health. In that year, approximately 45 percent of the adult population smoked – 45 out of each 100 adults. The reported triggered a nearly 60-year long series of national, state, and local legislative reactions; the trend is likely to … [Read more...]
With battles on multiple fronts, Station Casinos is fighting to maintain its image By John L. Smith, CDC Gaming Reports • November 17, 2021 The commercials are hard to miss on television and the internet. The full-page advertisements in the Las Vegas Review-Journal leave little doubt about their theme: Station Casinos is a benevolent gaming company that’s an integral part of the Las Vegas community. The ads paint a picture of corporate caring with smiling faces of an ethnically blended workforce apparently well pleased with their … [Read more...]
Tottenham Report: One size does not fit all By Andrew Tottenham, Managing Director, Tottenham & Co • November 15, 2021 I was at a conference last week organised by Clear Concise Media. The theme was “Reputation Matters”. A presentation by Oliver Rowe from YouGov detailed the results of polling that his firm carried out. The results were shocking. The gambling industry in the UK is held in such low esteem by the general public and by politicians that only 5% of the former thought the industry was … [Read more...]
Tottenham Report: Italian regulator losing legal battles against remote gambling operators By Valérie Peano • November 15, 2021 These are definitely hard times for Italy’s Customs and Monopolies Agency (ADM), the gambling regulator. In recent past, the Administrative Court of Lazio has published a number of rulings, all in favour of the remote gambling licensees’ appeals, challenging the ADM’s position. The first legal battle worth mentioning is the one that confirmed an extension of remote gambling licenses until 31 … [Read more...]
Macau does not appear to be able to control its appetite By Ken Adams, CDC Gaming Reports • November 14, 2021 It is not a secret that the casinos in Macau are suffering during the extended pandemic era. Macau has always depended on China for gamblers. Since the pandemic began, China is the exclusive source of gamblers in the city. And the flow of visitors has slowed to a trickle due to mainland policies. Whether or not China brewed the virus in a laboratory or it leaped from the critters in the market … [Read more...]
Living history: El Cortez celebrates its 80th anniversary with fireworks By John L. Smith, CDC Gaming Reports • November 10, 2021 If you’re looking for living Las Vegas history, walk through the doors of the El Cortez. The venerable and vaunted downtown gambling institution recently celebrated its 80th anniversary with fireworks and a toast to its remarkable run in a business brimming with tales of ruthless competition. The place has literally been around since the beginning of what most people probably call modern Las … [Read more...]
Igaming Focus: Industry warning — reputation really does matter By Jake Pollard, CDC Gaming Reports • November 9, 2021 Having a good reputation is a valuable asset: U.S. gambling brands can just look to the UK to see what happens when an industry loses public opinion. Attending the event “Reputation Matters: UK Gambling's Future at Stake” this week was a sobering reminder of how the gambling industry is perceived by the public and politicians on my side of the Pond. That the reputation of the UK gambling … [Read more...]
Igaming Focus: DraftKings — Is the strategy paying off? By Hannah Gannagé-Stewart, CDC Gaming Reports • November 9, 2021 DraftKings’ (DKNG) shares rallied on Monday, November 8, after a dip at the end of the previous week. It seems that analysts still have faith in the daily fantasy sports (DFS) giant as it continues in its pursuit of U.S. igaming dominance. Trading closed with shares up 2.66% to $44.78, having taken a tumble after the firm’s Q3 earnings call on November 5. Bernie McTernan from Needham is … [Read more...]
Their kind of town? The fascinating push for a coveted Chicago casino license By John L. Smith, CDC Gaming Reports • November 3, 2021 The stakes are rising in Chicago, where three companies have submitted a total of five proposals in a competition to develop the first legal casino within the city limits. Those who study gambling’s history will wonder what took Chicago so long. Its own story is inextricably linked to the evolution of gaming across the country. It’s hard to imagine where Las Vegas would have been in its … [Read more...]
Focus on Asia: Gambling on the other side of Asia By Andrew Klebanow, Co-Founder of C3 Gaming • November 2, 2021 For the past two decades, the international casino industry’s attention has been focused on East Asia. The emergence of Macau as the world’s largest gaming hub – followed by Singapore, the Philippines, Vietnam, and Korea – captivated the interest of casino developers looking for the next opportunity to develop integrated casino resorts. The notion was that any country that was in close proximity … [Read more...]
Focus on Asia: Never judge a book by its cover By Ben Blaschke, Managing Editor, Inside Asian Gaming • November 2, 2021 In my previous contribution to Focus on Asia, I highlighted what I believed to be an over-the-top reaction by Macau gaming investors to the publication of proposed revisions to the city’s gaming laws. In the space of a day in mid-September, the market capitalization of the Hong Kong-listed entities of Macau’s six concessionaires fell by some 26%, or US$18.4 billion, with investors clearly spooked … [Read more...]
Going on and the Boston Marathon By Ken Adams, CDC Gaming Reports • October 31, 2021 An editorial on an online running site recently took issue with the 2022 Boston Marathon limiting the number of participants. The marathon is scheduled to return to its regular date and time on Patriots’ Day, April 19, 2022. The marathon was not run in 2020, and in 2021 took place in the fall. In 2022, the field will be limited, as it was this year. The exact number is not known yet. Marathon … [Read more...]
Tottenham Report: Analysis of gambling regulations in the Czech Republic By Anna Všetečková • October 27, 2021 Nearly five years after Czech Act No. 186/2016 Coll. on gambling games (“Gambling Act” or “GA”) went into effect, the Ministry of Finances has prepared an analysis of the country’s gambling regulations, known as the ARHA Report. The aim of the report was to carry out a comprehensive review and evaluation of the country’s gambling legislation in terms of its goals and principles and to identify … [Read more...]
Tottenham Report: The UK gambling beat — Maxims out, problem gambling down, GC off By Andrew Tottenham, Managing Director, Tottenham & Co • October 27, 2021 Maxims Casino has gone into administration in the hope that the Canadian owners can find a buyer. Maxims is situated in a beautiful Victorian townhouse built in the 1860s in the London Borough of Kensington. Previous owner Genting offloaded the casino to Sonco, a Canadian company, for £34.6 million in 2019, realising a significant profit, having purchased it when the company acquired Stanley … [Read more...]
A boxing hall of fame styled after the Mob Museum? That’s an easy knockout By John L. Smith, CDC Gaming Reports • October 27, 2021 Inside the new Resorts World casino-resort on the Las Vegas Strip, the 10-foot-tall statue towers over passersby outside the Mulberry Street Pizzeria. Mike Tyson never looked so good and many of his opponents would have to admit there was a time during his long reign as heavyweight champion that he appeared just that menacing in the ring. The statue itself was the idea of fight fan and … [Read more...]
Igaming Focus: M&A roundabout puts focus on tech ownership By Jake Pollard, CDC Gaming Reports • October 26, 2021 Despite the M&A talks between DraftKings and Entain ending without a deal, the three-way M&A story between both groups and MGM once again showed how important owning a strong tech stack is to the industry’s leading firms. All the talk of tech ownership in the U.S. sports betting industry has centred on the DraftKings-Entain M&A story, and even though both groups said on Tuesday … [Read more...]
Igaming – Where do we go from here? By Ken Adams, CDC Gaming Reports • October 24, 2021 As gaming expands and matures, its addictive nature will become more apparent. Not everyone is at risk. The exact percentage of people who gamble and are at-risk is a matter of debate. The extreme estimate is 15 to 20 percent of people who place a wager are subject to becoming addicted. Most academic studies put the number closer to 5 to10 percent. When gambling in the United States was limited … [Read more...]
Will a grassroots anti-smoking effort finally gain real traction in the casino industry? By John L. Smith, CDC Gaming Reports • October 20, 2021 It’s understandable that it would be lost amid the relentless misery of the pandemic, but a strange and refreshing thing happened inside Atlantic City casinos once they made the transformation into a safer environment for customers. In addition to the new cleaning protocols and Plexiglas, the masks and social distancing, smoking was temporarily banned on the traditionally heavily fogged casino … [Read more...]
The Great Resignation and the challenges of filling empty jobs By Ken Adams, CDC Gaming Reports • October 17, 2021 According to The Atlantic, Forbes, and the Harvard Business Review, a new phenomenon is afoot. People are resigning their jobs in droves: 4 million quit in July and 4.3 million in August. August was the fifth month of near-record resignations, with 3 percent of the workforce leaving, nearly 9 percent in the food-service industry. The Harvard Business Review says the highest rates come from … [Read more...]
Martha D, motherhood, and more By Bernard Kroviak, CDC Gaming Reports • October 14, 2021 On November 5th and 6th, the 2021 Breeders' Cup World Championships will be held at Del Mar Racetrack outside of San Diego, California. These 14 races bring the top horses in the world together to compete for purses ranging from $2 million for some two-year-old races to $6 million for the Classic, the feature and final race on the program, run at a mile and a quarter for horses three years old and … [Read more...]
Tottenham Report: The impact of the Sportradar IPO By Scott Longley • October 13, 2021 Sportradar’s initial public offering follows Genius Sports’ IPO earlier this year and with IMG Arena owner Endeavor now also listed, it leaves Stats Perform as the only one of the major data and streaming suppliers remaining in private hands. The enthusiasm for high-profile suppliers of the betting and gaming sector is understandable, given the levels of interest now being generated by the … [Read more...]
Tottenham Report: Gambling harms quantified, but can we trust the figure? By Andrew Tottenham, Managing Director, Tottenham & Co • October 13, 2021 Last month, Public Health England (PHE), an advisory and support body to the National Health Service and Government, published its review of gambling-related harms; a summary can be found here Gambling-related harms evidence review: summary - GOV.UK (www.gov.uk). PHE came to the conclusion that the “annual economic burden” is approximately £1.27 billion; the 95% confidence range is £841 million to … [Read more...]
With re-election campaign simmering, Governor Sisolak makes solid Gaming Commission picks By John L. Smith, CDC Gaming Reports • October 13, 2021 No one can deny Nevada Gov. Steve Sisolak has a lot on his plate these days. From the health and economic impacts of the COVID-19 pandemic to a brewing 2022 re-election campaign that threatens his incumbency, he has more than enough to worry about without making judgment errors when it comes to the day-to-day grind of governing. So it would have been expedient for Democrat Sisolak to lard … [Read more...]
Igaming Focus: Doing it all — The rise of the “super provider” By Jake Pollard, CDC Gaming Reports • October 12, 2021 With its acquisition of OpenBet, Endeavor can now offer a complete range of B2B products to sportsbooks, with Genius Sports and Sportradar in near similar positions. So how will this affect their B2C and B2B clients? The buy out of OpenBet by Endeavor Holdings illustrates the many sports betting disciplines the industry's “super providers” offer and the near-complete range of betting-related … [Read more...]
Baseball and the Hard Rock in Cincinnati By Ken Adams, CDC Gaming Reports • October 10, 2021 Cincinnati is a baseball town and since 2013, it has also been a casino town. The city has one casino, which is in the process of changing its identity again. It opened in 2013 as a Horseshoe Casino. In 2016, Jack Entertainment bought the property. In 2019, Vici Properties, along with the Hard Rock Corporation, purchased Jack Casino. Vici now owns the real estate, Hard Rock the casino … [Read more...]
As casino industry recovers, this would once again be a good time for it to stop smoking By John L. Smith, CDC Gaming Reports • October 6, 2021 As a kid growing up in Las Vegas, it seemed like just about everyone smoked cigarettes, including my parents, brother, and sisters. I thought I even caught the family dog sneaking a puff. But that was a long time ago. The same was true in the casino industry. Smoking went literally hand in hand with drinking and gambling. And eating. And standing around. And betting in the sports book. And … [Read more...]
Focus on Asia: Vladivostok — A Work in Progress By Andrew Klebanow, Co-Founder of C3 Gaming • September 30, 2021 It has been over 14 years since Russian legislators passed regulations designating four regions within the Russian Federation as suitable locations to host casino gambling. Of those, the Primorye region in far eastern Russia was considered a near ideal location for development of integrated resorts, and was one favored by Prime Minister Vladimir Putin. A site north of the city of Vladivostok was … [Read more...]
Focus on Asia: The end of the world as we know it? By Ben Blaschke, Managing Editor, Inside Asian Gaming • September 30, 2021 The significant and what some would call “over the top” reaction to the publication by Macau’s Gaming Inspection and Coordination Bureau of proposed amendments to gaming laws raises some interesting questions about how China views gambling within its local casino enclave. It is no secret that, broadly speaking, Beijing frowns upon most forms of gambling, and as such has been actively letting … [Read more...]
World Series of Poker a reminder Las Vegas has long been a “big-league” city By John L. Smith, CDC Gaming Reports • September 29, 2021 The Golden Knights, the Raiders, NASCAR – maybe one day even the Athletics. In 2021, the sports world fully recognizes Las Vegas as a big-league city. Of course, that’s something locals and knowledgeable visitors have known for decades. From major boxing events and Grand Prix races to the dearly departed National Finals Rodeo and professional golf tournaments, Las Vegas has long been the … [Read more...]
Tottenham Report: Casino regulation in Germany — The clock is ticking By Michelle Chelsea Hembury • September 28, 2021 The German gambling market is mainly regulated by the Interstate Treaty on Gambling (IST 2021). With the approval of their state parliaments, the German federal states agreed on a common denominator that, after ratification, legally binds them and forms the basis for further federal state laws. Since the long-awaited IST 2021 came into force in July 2021, operators can now, for the first … [Read more...]
Tottenham Report: DraftKings-Entain, 888-William Hill — Two acquisitions evaluated By Andrew Tottenham, Managing Director, Tottenham & Co • September 27, 2021 In the last few weeks, we have seen two large transactions proposed in the online gambling industry: 888’s acquisition for £2.2 billion of the non-U.S.-facing part of William Hill and DraftKings’s £16.4 billion offer for Entain. Both of these companies state they are making these acquisitions for similar reasons, but they are not coming from the same starting position. DraftKings and … [Read more...]
What is going on in gaming? By Ken Adams, CDC Gaming Reports • September 26, 2021 Casino revenues and profits are up, but fewer customers and other serious economic issues are impacting the gaming industry. What is going on? The post-pandemic economy is a mixed bag. Signs of recovery are accompanied by warning flags. The unemployment rate has returned to something close to 2019 levels, but 10 million jobs remain unfilled, particularly in service industries. Gaming is plagued … [Read more...]
Igaming Focus: TAM factors MkII, with offshore component thrown in By Jake Pollard, CDC Gaming Reports • September 21, 2021 The size of the total addressable market in the U.S. depends on many factors, regulatory mainly. But the role of offshore books, which continue to be highly popular with U.S. players, should also not be discounted. Having looked into the significance of the total addressable market (TAM) for U.S. online betting and gaming in my previous column, and whether the numbers and forecasts (accurate … [Read more...]
Is A New Day Dawning in Macau? By Ken Adams, CDC Gaming Reports • September 19, 2021 The fog may be lifting in Macau, a least slightly. Several recent events illustrate the issues and point toward potential changes in gaming there. To begin with, the Gaming Commission has reorganized itself and expanded, nearly doubling in size. The stated intent was to better oversee the gaming companies. At the time of the announcement, however, the underlying motivation seemed difficult to … [Read more...]
In a new era for sports betting, this slice of nostalgia is on me By John L. Smith, CDC Gaming Reports • September 15, 2021 Those searching for a symbol of the new era of acceptance of legalized sports betting need have looked no further than the season premiere of Monday Night Football live from Las Vegas featuring the Baltimore Ravens against the Las Vegas Raiders at Allegiant Stadium. For those who appreciate how far the legal bookmaking industry has come, it’s nothing short of mind-bending. Not only is there an … [Read more...]
Tottenham Report: Algorithms and integrity By Andrew Tottenham, Managing Director, Tottenham & Co • September 13, 2021 Last week, I had the opportunity to participate in an online panel discussion, “AI: Algorithms and Integrity”, organised by the European Association for the Study of Gambling (EASG) and ably moderated by Arjan van‘t Veer, Chair of EASG and Secretary General of the European Lotteries Association. Given the increasing use of artificial intelligence that, whether we know it or not, impacts our … [Read more...]
Where oh where has the Powerball frenzy gone? By Ken Adams, CDC Gaming Reports • September 12, 2021 As of this writing, the jackpots of Powerball and Mega Millions are each approaching $400 million. Should one or both not be won over the next week, the jackpots should be near $500 million. That’s a lot of money, but not the biggest jackpots on record by a long shot. In 2016, a Powerball jackpot hit at $1.5 billion; since 2012, nine Powerball jackpots have gone over $500 million. Mega Millions … [Read more...]
Sports Betting America: AGA’s big picture in focus as NFL season starts By John L. Smith, CDC Gaming Reports • September 8, 2021 The sports world is awash in statistics, but even its most avid numbers junkies have to tip their caps to the lusty figures pouring out of the rapidly expanding legal-betting industry as the National Football League’s regular season ramps up. The American Gaming Association’s research into the depth of fan affection for sports betting has produced nothing short of head-spinning statistical … [Read more...]
Igaming Focus: TAM indicators — size matters By Jake Pollard, CDC Gaming Reports • September 7, 2021 The size of the total addressable market (TAM) in the U.S. has been a topic of some discussion for some time, and it is easy to get lost in the amount of numbers and projections being put out by all industry stakeholders. However, it is worth wondering how much the TAM, addressable or not, actually matters currently. This is not meant as a flippant remark. Indeed, without a TAM to size up the … [Read more...]
Igaming Focus: Has the affiliate rush started? By Hannah Gannagé-Stewart, CDC Gaming Reports • September 7, 2021 Louisiana newspaper The Advocate has launched an affiliate site, bet.nola.com, following legalisation of sports betting in the state in November 2020. Billed as a “new site for Louisiana's new sports betting era,” the paper promises “a resource that gives Louisianans all the information and entertainment they can handle as it relates to sports betting and fantasy sports”. They’re even hiring … [Read more...]
Focus on Asia: Clark — A Rapidly Emerging Gaming-Resort Destination By Andrew Klebanow, Principal, Klebanow Consulting • September 2, 2021 The search for the next opportunity to develop integrated resorts in Asia remains elusive. Japan, once seen as a market with the potential to exceed the gaming revenues generated in Singapore, is now fading into ignominy as burdensome regulations and political posturing have chased away most of the world’s pre-eminent integrated resort developers. South Korea, with two integrated resort sites … [Read more...]
Focus on Asia: Macau in position to open the flood gates By Ben Blaschke, Managing Editor, Inside Asian Gaming • September 2, 2021 More than 18 months since COVID-19 first made its presence known in Macau, it seems we’re still taking one step back for every two steps forward. Certainly the latest setback inflicting mainland China, an outbreak that began in Nanjing before stretching to 16 other provinces, was ill-timed, with Macau’s gaming operators having finally started to see some genuine signs of recovery in their … [Read more...]
Prospect of California sports betting presents big opportunities, headaches, and challenges By John L. Smith, CDC Gaming Reports • September 1, 2021 The dense smoke obscuring the future of sports betting in California doesn’t quite rival the acrid clouds billowing from the state’s tragic wildfires. That metaphor is overstated. But it’s hard to blame anyone for being confused by the state of play there. At a time when a parade of legalization is winding through the country and states long opposed to bookmaking and sports gambling have more … [Read more...]
Tottenham Report: Why did the German Interstate Treaty on Gambling take so long? By Andrew Tottenham, Managing Director, Tottenham & Co • August 30, 2021 In March of this year, the 16 German Lande (states) finally ratified the Interstate Treaty on Gambling (Glücksspielstaatsvertrag), which came into force on 1 July. This is a fine example of a piece of legislation designed by committee; in trying to find a consensus among all of the stakeholders, the final treaty pleases no one. Its history has been a bit like “Whac-A-Mole”. The process has … [Read more...]
Vaccination mandate: The WSOP did the right thing By Scott Long, CDC Gaming Reports • August 30, 2021 It was the announcement most of the poker world knew was coming. The only question was when the World Series of Poker would mandate COVID-19 vaccinations for players. That came on Friday. How it plays out is anyone’s guess. There was just too much at stake for poker’s largest event not to make this announcement, as COVID cases continue to surge: high-profile players balking at attending; the … [Read more...]
The personhood of Crown Resorts, its crimes and punishments By Ken Adams, CDC Gaming Reports • August 29, 2021 According to Wikipedia, “Corporate personhood is the legal notion that a corporation has at least some of the legal rights and responsibilities enjoyed by natural persons. In most countries, corporations, as legal persons, have a right to enter into contracts with other parties and to sue or be sued in court in the same way as natural persons.” Natural persons have many privileges and … [Read more...]
‘Sportsman’s Paradise’ shakes off its notorious sports gambling past By John L. Smith, CDC Gaming Reports • August 25, 2021 Wherever he ended up, I hope Dickie Stevens kept a sense of humor. I thought of Stevens and some other dinosaur illegal bookmakers from the South earlier this summer after reading about Louisiana Gov. John Bel Edwards signing into law two bills to enact legalized sports betting in the state. Louisiana, of course, has been doing a fine job of gambling illegally on ballgames and horse races … [Read more...]
Igaming Focus: Emergence of convergence — sports broadcasting and betting By Jake Pollard, CDC Gaming Reports • August 24, 2021 A fully integrated sports broadcasting-betting ‘flywheel’ is the vision the likes of Fubo TV and Sinclair-Bally Sports are striving for. Can sports media and betting convergence finally produce the goods? As sportsbooks gear up for the new NFL season with much ado about new margin-increasing parlays, CRM and data-led marketing, media and broadcasting companies are planning their own … [Read more...]
Memories of Martha and mud By Bernard Kroviak, CDC Gaming Reports • August 23, 2021 After living through the thrill of owning my first race horse, Monsieur Leclercq, the Gray Dog, I knew he would not be my last. The excitement of owning a thoroughbred, even in part, and watching it come bounding down the stretch toward the wire, was bigger than I had ever imagined. The anticipation that builds before a race was another element that, though I’d long experienced it from the … [Read more...]
Is Nevada ready for online gaming? Legalized igaming may be knocking on Nevada’s door. By Ken Adams, CDC Gaming Reports • August 22, 2021 Long noted for its conservative and carefully considered regulations, Nevada is giving igaming a thought. The state’s Gaming Control Board scheduled a meeting to solicit input on the subject, but then postponed it. Instead, the Control Board held a non-controversial workshop on esports. After generating little opposition, esports received the regulators’ approval. The reason is simple: Esports is … [Read more...]
From synagogue to Strip, ‘Rogue Rabbi’ Mel Hecht has seen it all in Las Vegas By John L. Smith, CDC Gaming Reports • August 18, 2021 The working title of Rabbi Mel Hecht’s thoughtful and entertaining memoir in the making is Rogue Rabbi, which holds the promise of danger and intrigue. There’s some of that, to be sure. But there are also a lot of laughs, insights, and reminders of his decades spent in a certain colorful boomtown among casino kings and queens. That’s where the subtitle, A Vegas Memoir, comes in. It is all of … [Read more...]
Tottenham Report: Twitch cracks down on gambling affiliates By Hannah Gannagé-Stewart, CDC Gaming Reports • August 16, 2021 Content streaming platform Twitch has taken a stand against gambling affiliates, banning links or referral codes to online slots, roulette, and dice games. In a statement published last week, the platform said, “To prevent harm and scams created by questionable gambling services that sponsor content on Twitch, we will prohibit sharing links and/or referral codes to sites that offer slots, … [Read more...]
Tottenham Report: Cheap money drives acquisition frenzy By Andrew Tottenham, Managing Director, Tottenham & Co • August 16, 2021 The summer months in Britain are usually referred to as the “silly season”. Since there is not a great deal of serious news around, journalists report soft-news items. However, this year in the gambling world, there is a lot going on and certainly in the M&A area. Quite a few deals have been announced recently. Romanian Superbet has acquired Belgian-based Napoleon Games. Silverpoint … [Read more...]
Going to the mall in Pennsylvania By Ken Adams, CDC Gaming Reports • August 15, 2021 On August 12, Penn National opened Hollywood Casino York. It’s the second “mini” casino to open in Pennsylvania. The $120 million Hollywood Casino is in the York Galleria Mall in Springettsbury Township in York County, Pennsylvania, in a space formerly occupied by a Sears. The new casino was not exactly cheap; besides the $120 million, Penn paid $50 million for the license. Regardless of the cost, … [Read more...]
Nevada gaming industry and Culinary local are raising voices against COVID – and can do more By John L. Smith, CDC Gaming Reports • August 11, 2021 Even his critics would admit Nevada Gov. Steve Sisolak has an unenviable task these days. Juggling the physical, mental, and economic health of Nevadans through the ongoing coronavirus crisis is no mean feat. But The New York Times raised an intriguing question this past weekend in its update of corporations' and organized labor’s rapidly evolving real-time response to the withering impact of … [Read more...]
Igaming Focus: Are U.S. operators overlooking customer retention in favour of acquisition? By Hannah Gannagé-Stewart, CDC Gaming Reports • August 10, 2021 The U.S. affiliate market is a delicate beast. It is yet to mature into whatever characteristics will define it in comparison to its European counterpart. But a recent conference session threw up an interesting question about how heavily affiliates, and operators, should focus on customer acquisition in a new market. It’s logical to assume that acquisition should be the initial focus, and … [Read more...]
Gaming industry challenge: pressing employees to get vaccinated By John L. Smith, CDC Gaming Reports • August 4, 2021 As COVID-19 cases again surge across the country due in large part to the spread of the delta variant of the virus and a lagging vaccination rate in most states, the gaming industry finds challenges on many fronts. One politically prickly predicament is pushing employees to get vaccinated. For most, this seems like a no-brainer, but going strictly by the statistics, it’s clear that vaccine … [Read more...]
Focus on Asia: The Saipan saga By Andrew Klebanow, Principal, Klebanow Consulting • August 3, 2021 Recent announcements that Imperial Pacific International (IPI), operator of the Imperial Palace Saipan, has had its gaming license suspended and is now at risk of having its license revoked may soon bring to an end a story of one of the world’s most ambitious integrated resort projects. It has also dashed the hopes of many in Saipan who once saw an integrated casino resort as a way to stimulate … [Read more...]
Focus on Asia: Getting what you paid for By Ben Blaschke, Managing Editor, Inside Asian Gaming • August 3, 2021 Explosive revelations from recent inquiries into the suitability of Australian casino giant Crown Resorts to hold casino licenses in the states of NSW and Victoria highlight the dangers of slashing regulatory budgets. In a recent current affairs program aired on Australian television in early July, five former Victorian gaming inspectors detailed their experiences trying to regulate Crown … [Read more...]
The best laid plans, timing, and restarting old projects in Las Vegas By Ken Adams, CDC Gaming Reports • August 1, 2021 Marriott has posted on its website that a Marriott-branded resort-casino will open on the Las Vegas Strip in 2023. The company claims that the property will be a game-changer, ushering in a new generation of resorts — brave words for a long-challenged project. Both the site and the building that Marriott is heralding have an extended history of big promises unfulfilled. The Fontainebleau, a … [Read more...]
Tottenham Report: What is the matter with normal? By Andrew Tottenham, Managing Director, Tottenham & Co • July 29, 2021 One of the arguments for limiting the advertising of gambling products is that it “normalises” the activity. And I suppose the follow on is that normalisation will lead to an increase in gambling harms. The vast majority of more than 30 percent of the adult population in the UK regularly participate in gambling without suffering any harm or being at risk of suffering any harm. That, in my … [Read more...]
Tottenham Report: Is the UK industry awaiting a ‘reboot’ or an overhaul? By Hannah Gannagé-Stewart, CDC Gaming Reports • July 28, 2021 There is little chance of any change to the UK’s Gambling Act being passed before well into 2022, but debates continue in Parliament, as ministers attempt to wrap their heads around the finer details of the industry. Last week, on 22 July, an adjournment debate was brought by conservative MP for Blackpool South and joint chairman of the All-Party Parliamentary Group on Betting and Gaming Scott … [Read more...]
With COVID again crashing the party, it’s time for vax mandates By John L. Smith, CDC Gaming Reports • July 28, 2021 It’s safe to say that no place on the planet loves a celebration more than Las Vegas. Perhaps that’s what made the sudden silence associated with its dormancy during the height of the coronavirus pandemic seem all the more eerie and depressing. In the anti-social-distancing capital of the world, we were told to back up, mask up, and wash up. At one point, visitors were told to go home and … [Read more...]
Igaming Focus: Indian gaming moves towards regulation – on its own terms By Jake Pollard, CDC Gaming Reports • July 27, 2021 The momentum for getting tribal approval for sports betting regulation is stronger now than it has ever been, but the lobbying wars between them and commercial brands will also carry on. The National Indian Gaming Association conference that took place in Las Vegas last week in many ways was a momentous occasion - for the tribal gaming community, of course, as it announced its largest-ever … [Read more...]
To poker or not to poker in the Bay State By Ken Adams, CDC Gaming Reports • July 25, 2021 There is no poker in Massachusetts and people are wondering why. The casinos in Massachusetts reopened in July 2020 after being closed for four months due to the pandemic. They opened under limited conditions; occupancy was restricted to 25 percent of the maximum allowed by law. Poker, roulette, craps, and blackjack were not permitted. Social distancing was required with plexiglass shields … [Read more...]
Waiting for Godot in Macau By Ken Adams, CDC Gaming Reports • July 18, 2021 Macau is the only region in China allowed to conduct gambling. Gambling in Macau is a leftover from the Portuguese era when it was controlled by Chinese Triads. Portugal, Triads, and unbridled gambling are gone. The casinos in Macau are nothing like those old gambling dens. Today, casinos in Macau are billion-dollar resorts that offer a wide variety of entertainment, shopping, and culinary … [Read more...]
Tottenham Report: Bordering on the insane? By Andrew Tottenham, Managing Director, Tottenham & Co • July 14, 2021 Europe has more than 800 land-based casinos that employ some 70,000 people. This excludes slot arcades, which in some countries meet the legal classification of casino. You might think that these casinos are evenly distributed around the population centres, but that is not the case. Europe´s patchwork quilt of casinos has some threadbare parts to it and others where there is an … [Read more...]
As time goes on, Las Vegas becomes a good fit for Big League baseball By John L. Smith, CDC Gaming Reports • July 14, 2021 Back when the thought of having a Pacific Coast League baseball team in Las Vegas gave Commissioner of Baseball Commissioner Bowie Kuhn sleepless nights, no one anywhere would have taken a bet on the possibility of a Major League team taking up residency in Sin City. Officials with the Las Vegas Stars of the PCL were run ragged back in 1983 when they considered leasing billboard space to – … [Read more...]
Smoking is back in Atlantic City, for now By Ken Adams, CDC Gaming Reports • July 11, 2021 The Fourth of July in Atlantic City was different in 2021 than in 2020. Last year, the casinos reopened on July 2nd and 3rd, except for Borgata. Borgata waited for three more weeks. The casinos opened under heavy restrictions. The number of customers was limited to 25 percent of full capacity. Social distancing and masks were required. Smoking and indoor food and beverage service were not allowed … [Read more...]
New players in town: Tribal casinos a welcome sight in Las Vegas By John L. Smith, CDC Gaming Reports • July 7, 2021 Longtime observers of the Las Vegas casino scene might have been stunned to see the May announcement that the shimmering Palms Casino Resort had been purchased from Station Casinos for $650 million. It wasn’t the price tag that was surprising, but the buyer: the Highland, Calif.-based San Manuel Band of Mission Indians. Although the transaction was heralded by some as a new chapter for the … [Read more...]
Igaming Focus: Wire Act – Is this a defining moment for poker in the U.S.? By Hannah Gannagé-Stewart, CDC Gaming Reports • July 6, 2021 Few in the industry wouldn’t welcome more clarity around the Wire Act. For years it has hung over the burgeoning U.S. igaming market like a Sword of Damocles. However, the passing of last month’s deadline for the Department of Justice (DOJ) to appeal a First Circuit decision stating that, contrary to the DOJ’s 2018 interpretation, the Wire Act only applies to sports betting, has come as a … [Read more...]
Igaming Focus: Regulated icasino is long-term key to U.S. growth By Jake Pollard, CDC Gaming Reports • July 6, 2021 The U.S. igaming industry is in hyper-growth mode at the moment, but much will also depend on whether current regulatory levels continue, especially with regard to icasino. The U.S. igaming industry is currently described as being in a phase of hyper-growth, and looking at the numbers and the levels of investment, start-up, buyouts or listings activity surrounding it, this is an accurate … [Read more...]
Horse racing, UFOs, and baseball By Bernard Kroviak, CDC Gaming Reports • July 4, 2021 The summer is well underway, the final Triple Crown race has been run, and another year has passed without a single horse winning all three contests. Three races, three victors - Essential Quality in the Belmont, Rombauer in the Preakness, and, of course, Medina Spirit in the Kentucky Derby. Maybe. Or maybe not. Most people are probably aware that Medina Spirit tested positive for a small … [Read more...]
Pennsylvanians kept on gambling during smoking ban By Mark Gruetze, CDC Gaming Reports • July 1, 2021 So much for all those platitudes about protecting the health of Pennsylvania casino customers and workers. On June 28, the state lifted an indoor mask mandate that had helped slow COVID-19, which is spread by respiratory droplets. As welcome as the repeal is for almost everyone, the move returns another respiratory threat to the gaming floor: secondhand smoke. With masks no longer required, … [Read more...]
Focus on Asia: India – The gaming industry’s greatest development opportunity By Andrew Klebanow, Principal, Klebanow Consulting • July 1, 2021 The world’s largest and most successful integrated casino resort (IR) operators are faced with a dilemma. There are very few markets where they can deploy their expertise and capital to develop integrated resorts on the scale seen in Macau and Singapore. Countries in Asia, once viewed as ideal markets that could support multi-billion dollar developments, are proving to be problematic. … [Read more...]
Focus on Asia: Has Japan lost its way? By Ben Blaschke, Managing Editor, Inside Asian Gaming • July 1, 2021 The 2018 Japan Gaming Congress in Tokyo saw a large crowd of hundreds of industry and government professionals coming together to discuss what was, at that time, the most exciting new casino gaming jurisdiction on the planet. Key industry stakeholders ranging from high-ranking politicians to global integrated resort operators, gaming product suppliers, potential investors and expert … [Read more...]
As Las Vegas reopens, Taxicab Authority scrambles to keep customers, industry satisfied By John L. Smith, CDC Gaming Reports • June 30, 2021 Those searching for insight into the challenges facing the Las Vegas ride industry need have looked no further than last week’s Nevada Taxicab Authority meeting. The meeting inside the Nevada State Business Center on West Sahara Ave. provided a reminder of the cab industry’s diminished, but still vital, role in the gaming and tourism economy. Representatives of the industry aired a variety of … [Read more...]
Going a-courting in Macau By Ken Adams, CDC Gaming Reports • June 27, 2021 The Las Vegas Sands (LVS) is defending itself in court in Macau. Asian American Entertainment Corporation (AAEC) is suing for breach of contract. AAEC contends it had a contract with LVS to jointly pursue a gaming license in Macau. An LVS partnership was indeed awarded a gaming concession, but with Galaxy Entertainment as its partner, not AAEC. Calling it a breach of a valid and existing … [Read more...]
Tottenham Report: Channelisation – the key to successful regulation? By Hannah Gannagé-Stewart, CDC Gaming Reports • June 23, 2021 The Danish regulator Spillemyndigheden released a self-congratulatory notice earlier this month, announcing that it had achieved 90% channelisation in 2020. Hitting this milestone probably felt worth shouting about, given that ‘channelisation’ has become somewhat of a buzzword and bone of contention in European regulatory circles of late. It is an interestingly overlooked factor of many … [Read more...]
Tottenham Report: AI is here to stay, so let’s take a deeper look By Andrew Tottenham, Managing Director, Tottenham & Co • June 23, 2021 artificial /ɑːtɪˈfɪʃ(ə)l/, adjective: made or produced by human beings rather than occurring naturally, especially as a copy of something natural intelligence /ɪnˈtɛlɪdʒ(ə)ns/, noun: the ability to acquire and apply knowledge and skills There is no doubt that artificial intelligence will assist humans in understanding far more than is currently known about the universe we live in, whether it … [Read more...]
Igaming Focus: DraftKings moves on from Hindenburg report claims By Jake Pollard, CDC Gaming Reports • June 22, 2021 So far the claims made in the Hindenburg report about SBTech’s business set-up in black markets don’t seem to have done much damage to DraftKings. The fact that the allegations are now public is probably the biggest service the report has done. It is never a good look to be too blasé or cynical about business, but there was little that surprised industry executives when the Hindenburg Research … [Read more...]