Vegas bookie returns home to new world of betting By Tim Dahlberg, Associated Press • March 20, 2019 The biggest dice game around was just a few miles down the road when Jimmy Vaccaro was growing up in the Pittsburgh area. So was Comet News in Braddock, where those in the know slipped behind the green door into… [continue reading]
Gambling on sports: The flood gates are open By Ken Adams, CDC Gaming Reports • March 20, 2019 The national gaming narrative is being kidnapped by the legalization of sports gambling. It has been less than a year since the Supreme Court ruled the Professional and Amateur Sports Protection Act of 1992 is unconstitutional. Sports betting has leaped… [continue reading]
Decisions, Decisions By Andrew Tottenham, Managing Director, Tottenham & Co • March 20, 2019 If there is one thing we humans are not very good at, it’s making decisions. Ask people if they are good decision-makers, and most will tell you that they are. In fact, though, they are not, generally speaking. Stock and… [continue reading]
888 Holdings: hero or villain? By Hannah Gannagé-Stewart, CDC Gaming Reports • March 20, 2019 It’s been a busy start to 2019 for the London Stock Exchange-listed 888 Holdings. The operator hit the headlines recently with two major acquisitions – one more controversial than the other – as well as some thought-provoking financial results. On… [continue reading]
Icahn deals high-stakes poker game for companies tied to gaming icons Carano, Sarno and Harrah By Howard Stutz, Executive Editor, CDC Gaming Reports • March 19, 2019 The casino company founded by the late Don Carano could soon own properties associated with two other historical gaming figures, Bill Harrah and Jay Sarno. Orchestrating this proposed merger is billionaire corporate raider Carl Icahn. It seems like there should… [continue reading]
The settlement in the Suen-Sands lawsuit is undisclosed. It shouldn’t be By John L. Smith, CDC Gaming Reports • March 18, 2019 In a brawl that was at times reminiscent of a 15-round fight, the 15-year legal battle between Richard Suen and Las Vegas Sands ended abruptly last week with the announcement of a settlement. That was the final bell in a… [continue reading]
Macau casino extensions leave big questions unanswered By Muhammad Cohen, Forbes • March 15, 2019 Macau has finally taken a first step toward acting responsibly on gaming concession expirations, though the major items concerning expiration remain absolutely unclear. On Friday, the government announced it has extended the concession of SJM Holdings and subconcession of MGM… [continue reading]
Why a Chicago Casino May Never Happen By Robert Reed, Chicago Magazine • March 14, 2019 There’s plenty of action at Rivers Casino in suburban Des Plaines on this Wednesday afternoon. Scores of gamblers shovel quarters and dollar bills into banks of garishly colored video terminals with flashing names like Blazing 7’s Blackjack and Ultimate Texas… [continue reading]
Fantasy sports giants continue to counting winnings, take hits in court By John L. Smith, CDC Gaming Reports • March 13, 2019 Some may consider them sore losers, but the ranks of fantasy sports players willing to litigate online giants DraftKings and FanDuel continues to expand at a time of unprecedented growth in America’s legalized sports betting options. Whoever believed that there… [continue reading]
Will Las Vegas Sands and Wynn Resorts survive the end of the Adelson-Wynn era? By Ken Adams, CDC Gaming Reports • March 13, 2019 The future of sports teams after creative geniuses and super stars leave is a frequent topic of discussion. The same kind of discussion also takes place in business; is there life after Steve Jobs, Sam Walton, Ray Kroc or Colonel… [continue reading]
Nevada watching from the sidelines as Wire Act court battle plays out By Howard Stutz, Executive Editor, CDC Gaming Reports • March 12, 2019 As New Hampshire heads to federal court in an effort to squash the U.S. Department of Justice’s planned changes to the Federal Wire Act, the state is finding its support growing. Last week, Michigan and New Jersey filed amicus (friend… [continue reading]
Japan casino resort hopeful Wakayama makes its case By Muhammad Cohen, Forbes • March 11, 2019 Integrated resorts in Japan’s largest cities promise to be spectacular successes. But most action on the IR front right now is in the so-called regional sector, areas that have been losing population and relevance as economic power becomes more concentrated… [continue reading]
Never-ending Suen-Sands case grinds back to court without Adelson By John L. Smith, CDC Gaming Reports • March 11, 2019 Forgive me if the story of Richard Suen and Las Vegas Sands sounds familiar. It probably should. The knock-down litigation has been going on in Nevada courtrooms for more than 14 years. President George W. Bush was still in his… [continue reading]
Labour needs to wake up to gambling’s complexities By Greg Wood, Talking Horses, The Guardian • March 10, 2019 Tom Watson, the deputy leader of the Labour party and a politician with a long-standing interest in the regulation of gambling, offered some hints of what might be in a new Gambling Act if or when his party returns to… [continue reading]
Horse racing needs to clean up its act, or go away By Paul Newberry, Associated Press • March 10, 2019 It was supposed to be one of the most thrilling days of the year at Santa Anita. Two big races at the historic Southern California track, including one of the top preps for the Kentucky Derby. Bob Baffert in the… [continue reading]
Minnesota: Why legalizing sports betting (still) faces such long odds at the Legislature this year By Peter Callaghan, MinnPost • March 8, 2019 Legal sports betting may be coming to Minnesota. But it doesn’t seem to be in much of a hurry. Consider that the Senate bill that would partially legalize sports books in Minnesota narrowly slipped out of its first committee Thursday… [continue reading]
It’s time for the industry to face reputational challenges head on By Hannah Gannagé-Stewart, CDC Gaming Reports • March 6, 2019 It will have come as no surprise to the industry last week when the UK’s deputy opposition leader Tom Watson unveiled the Labour party’s plans to reform gambling legislation. At least it shouldn’t have done. Over the past year calls… [continue reading]
Skill or Chance – Is it legal? By Andrew Tottenham, Managing Director, Tottenham & Co • March 6, 2019 According to the number of times I get asked, there is clearly a misunderstanding about the role of skill in gambling. There is a misconception that if a game during which people can win or lose money has an element… [continue reading]
Mistakes will happen, but we’re still in the early innings of the legal sports betting game By Howard Stutz, Executive Editor, CDC Gaming Reports • March 5, 2019 Since the U.S. Supreme Court allowed legal sports betting to expand across America 10 months ago, the race has shifted from a full-on sprint out of the starting gate to a steadier, more gradual pace. Seven states quickly joined Nevada… [continue reading]
At the highest levels, competitive casino industry evolves in real time By John L. Smith, CDC Gaming Reports • March 4, 2019 For those immersed in the Las Vegas casino success story, change in the industry has felt more plodding and generational than rapid and revolutionary. These days, however, you can watch the evolution as it happens. The examples are everywhere, and… [continue reading]
Why the party is over for online gambling By Jonathan Ford, Financial Times • March 3, 2019 When Britain loosened its gambling laws in 2005, then prime minister Tony Blair presented it as a way to legitimise what would happen anyway. “I am not a gambler myself, but people do gamble,” he said. “There is no point… [continue reading]
Here’s why Nevada should worry about the Justice Department’s recent opinion about internet gambling By Chris Sieroty, Desert Companion • March 3, 2019 Internet gambling is a scourge and a plague, a magnet for crime and corruption. Or it’s a blessing and an economic boon — and a digital-era inevitability that we should tax and regulate. Or maybe online gambling is mere fiscal… [continue reading]
Las Vegas Sands head Sheldon Adelson illness echoes Macau bid history By Muhammad Cohen, Forbes • March 1, 2019 Casino and political heavyweight Sheldon Adelson is being treated for cancer and has been away from the office since late December, according to media quoting Las Vegas Sands Corporation. The 85 year old chairman and CEO of Las Vegas Sands… [continue reading]
Yes, Virginia, in 2019 it probably makes sense to legalize casino gambling By John L. Smith, CDC Gaming Reports • February 27, 2019 You can’t blame states for trying not to legalize casino gambling. The gaming industry, often as oversold as it is misunderstood, is a lot more complicated than it’s often portrayed. For its critics, and there are still plenty of them,… [continue reading]
Macau Dances the Chinese Tango By Ken Adams, CDC Gaming Reports • February 27, 2019 Gaming revenues in Macau have stagnated lately. It is difficult to put a finger on the exact cause partly because the city is a mixture of government systems. Macau is unique in many ways; it was a Portuguese trading post… [continue reading]
Sports’ great gamble, Part 3: Future of ‘integrity’ By Michael Silverman, Boston Herald • February 27, 2019 (This is the third in an ongoing series examining sports gambling, and its impact on the people — and sports teams — of Massachusetts, and beyond.) When it comes to the link between “integrity” and sports betting, 2019 offers a… [continue reading]
Battling illegal sports betting: A century of lessons to be pondered By Michael Pollock, Spectrum Gaming Group • February 26, 2019 (Cue Walter Winchell’s sonorous voice). This is a true story about Al Capone and the repeal of Professional and Amateur Sports Protection Act. The names have not been changed to protect the innocent. By pure coincidence, the U.S. Supreme Court’s… [continue reading]
Betting on ‘Best Picture’ might liven up lagging Oscars audience By John L. Smith, CDC Gaming Reports • February 25, 2019 Hollywood’s high-rollers gathered Sunday for the 91st Academy Awards ceremony. Unlike their casino VIP counterparts in Las Vegas, the movie industry elite managed to get along fine without a host. The lack of so much as a good lounge comic… [continue reading]
Quit Scalping Hawaii Taxpayers — Legalize Gambling By Danny de Gracia, Honolulu Civil Beat • February 25, 2019 When it comes to growing the economy and raising revenues, the 30th Legislature needs to learn to work smarter, not harder. Since no one else wants to say it, I will: it’s time for a state lottery system, casinos and… [continue reading]
Restricting sports betting to upstate casinos would forfeit millions in tax revenue By Daniel Wallach and Robert Rosborough, New York Daily News • February 24, 2019 In a time when New York is seeing stunning declines in state tax revenues and faces an unexpected $2.3 billion budget shortfall, the state must not miss out on valuable opportunities to raise new revenue. That’s why the push to… [continue reading]
Oscars odds: Betting on the Academy Awards is now legal in New Jersey, so I tried it By Gary Thompson, The Inquirer • February 22, 2019 My anthem recently has been Bradley Cooper in A Star Is Born singing that maybe it’s time to let the old ways die, yet here I am, driving over the Ben Franklin Bridge on a Sunday, just like I used… [continue reading]
Korea Casino Cluster Coming To Incheon – Probably By Muhammad Cohen, Forbes • February 20, 2019 A recent article by The Innovation Group’s Michael Vanaskie examines the casino cluster effect in spurring extraordinary tourism and gaming revenue growth in Macau and Manila. Naturally, other jurisdictions are trying to emulate that success, including Incheon in South Korea,… [continue reading]
Between a rock and a hard place By Andrew Tottenham, Managing Director, Tottenham & Co • February 20, 2019 What will happen to Gibraltar, post-Brexit? In 1713, by the Treaty of Utrecht, the Spanish ceded the sovereignty of Gibraltar, nicknamed “the Rock”, to the British Crown, and it has remained a British territory ever since. Why did the Spanish… [continue reading]
Let’s wake up, before gambling is treated like tobacco By Valérie Peano, Attorney-at-Law, EGLA – European Gambling Lawyers & Advisors • February 20, 2019 Legal provisions adopted in Italy concerning gambling are quite worrying. Currently, the Italian Senate is debating another increase of the fiscal levy rate for video lotteries (VLT) and amusement with prizes (AWP) machines (low stakes, low prizes). Under the current… [continue reading]
An Icahn-Fertitta combination could hold the key to the future of Caesars Entertainment By Howard Stutz, Executive Editor, CDC Gaming Reports • February 19, 2019 As the Billion Dollar Buyer, Tillman Fertitta entertains CNBC audiences on a weekly basis as he evaluates the merits of two small businesses, each of which is hoping to land a lucrative contract as a vendor to his Houston-based Landry’s… [continue reading]
Labor organizations using websites, social media to battle casino and political foes By John L. Smith, CDC Gaming Reports • February 18, 2019 These are interesting times for the Las Vegas casino industry and the various unions whose members are among the many thousands of workers who help make so many memories for visitors and so much money for investors. The best-known labor… [continue reading]
Getting in the game at last By Bernard Kroviak, CDC Gaming Reports • February 17, 2019 You might recall that, at the end of the last installment, our trainer, Andy, had just told us that our colt was ready to begin his racing career. The excitement of that momentous announcement set in motion my long-awaited career… [continue reading]
Is Virginia about to make a bad bet on casinos? By Peter Galuszka, Washington Post • February 15, 2019 Except for horse racing and a lottery, when it comes to gambling, Virginia has for years avoided casinos with slot machines and roulette wheels, believing they are tacky, risky and too close to organized crime. For evidence, look at Atlantic… [continue reading]
Even for Washington, the fight over online gambling has been unusually shady By Rachel M. Cohen and Ryan Grim, The Intercept • February 15, 2019 SEN. LINDSEY GRAHAM, R-S.C., talked to U.S. Deputy Attorney General Rod Rosenstein “several times” about changing the Justice Department’s interpretation of a law that banned interstate betting, he told The Intercept. A 2011 Justice Department analysis of that law effectively… [continue reading]
AGA taking a measured approach toward the Wire Act reinterpretation By Howard Stutz, Executive Editor, CDC Gaming Reports • February 12, 2019 On his first day as CEO of the American Gaming Association, Bill Miller received a gift, courtesy of Las Vegas Sands Corp. Just as he was settling into the job, word landed that the U.S. Department of Justice had reconsidered… [continue reading]
Sports betting history being made in real time throughout the country By John L. Smith, CDC Gaming Reports • February 11, 2019 The wheels keep turning in the race to legalize sports betting across America. It’s easy to get caught up in the gold fever that broke out in the wake of last year’s decision by the U.S. Supreme Court to repeal… [continue reading]
Pennsylvania: A chance to remake the York Galleria By York Dispatch • February 11, 2019 Anyone walking through the York Galleria can see that the Spiringettsbury Township mall is in trouble. Two of the former anchor stores are completely vacant. A third has been split, with Marshall’s on the second floor and Gold’s Gym on… [continue reading]
Our View: New York needs to open up legal sports betting to Batavia Downs By The Daily News • February 11, 2019 The state Gaming Commission has given preliminary approval to regulations that would open casinos to legal sports betting. Commission members drew a line, however, between casinos and racinos such as Batavia Downs Gaming that unfairly deprives the racinos from benefiting… [continue reading]
Department of Justice shouldn’t end online gambling to appease Trump donor Sheldon Adelson By Peter J. Ferrara, USA Today • February 9, 2019 Most decisions made by the Department of Justice are made to protect the long-term integrity of the institution. Policy changes are not made swiftly and can often take decades to implement. As a lawyer and former associate deputy attorney general… [continue reading]
Why I gamble: Sports betting is a labor of love By Brett Smiley, SportsHandle • February 9, 2019 I’ve voluntarily purchased new clothing three times since 2007. I clip coupons. I have an annual September calendar reminder to call SiriusXM, to threaten to cancel my subscription. They don’t like to lose customers, so each time they give me… [continue reading]
Atlantic City: A Word of Caution By Ken Adams, CDC Gaming Reports • February 7, 2019 Atlantic City is seemingly experiencing a resurgence. Gaming revenue has grown year over year for the last two years after ten years of declines. In 2018, total gaming revenue was up 8.7 percent and for December, a whopping 25 percent. … [continue reading]
From Little Acorns By Andrew Tottenham, Managing Director, Tottenham & Co • February 7, 2019 It’s very cold in London (though not as cold as in the midwest of the USA), so it must be time for ICE. From my perspective the show keeps getting bigger and better. Thirty-two years ago, when I had just… [continue reading]
The Next Wave in The Gambling Industry: What’s It Going To Be? By Luke Haward, CDC Gaming Reports • February 7, 2019 The worlds of technology and of media never stand still. The gambling industry is particularly aware of this, as both the technology underlying the online games on offer, and that protecting the infrastructure for tracking play, monitoring players, and ensuring… [continue reading]
What Pansy Ho’s move on former Macau casino leader SJM really means By Muhammad Cohen, Forbes • February 6, 2019 Kung hei fat choi/Gong xi fa cai. As the Year of Pig dawns, Stanley Ho’s daughter Pansy Ho has again moved to seize the family empire. After leading the 2011 coup against her father that gave Ho and siblings a… [continue reading]
‘Playing for Pizza?’ hedge fund places longtime gaming CEO on Papa John’s board By Howard Stutz, Executive Editor, CDC Gaming Reports • February 5, 2019 What does a struggling pizza chain have to do with a handful of casino companies under siege by activist investors? Hedge fund Starboard Value this week invested $200 million into embattled pizza chain Papa John’s, naming the New York-based company’s… [continue reading]
Japan resorts ‘will be integrated like never before in gaming and hospitality’ By Marcus Prater, Executive Director, AGEM • February 5, 2019 (Remarks from AGEM Executive Director Marcus Prater at ICE London 2019) It’s a pleasure to be here today as Executive Director for the Association of Gaming Equipment Manufacturers (AGEM). We are a non-profit international trade association based in Las Vegas… [continue reading]
Bettors get many Super Bowl choices at New Mexico’s first legal sports book By John L. Smith, CDC Gaming Reports • February 4, 2019 BERNALILLO, N.M. – Dressed in a Patriots sweatshirt, it was easy to tell which team Jeff favored in Super Bowl LIII. The far greater challenge was deciphering and deciding on which of dozens of proposition bets to make at the… [continue reading]
Gambling firms agree to slash FOBT stakes in Northern Ireland By Luke Haward, CDC Gaming Reports • February 2, 2019 As has been covered ad infinitum, fixed odds betting terminals (FOBTs) will see a massive reduction in max stakes come April, from the current £100 to £2, in a bid to protect vulnerable gamblers. (It’s worth noting that many detractors… [continue reading]
Macau casino revenue drop doesn’t mean sky is falling By Muhammad Cohen, Forbes • February 2, 2019 Macau casino revenue fell in January, the first year on year decrease since July 2016. The 5 percent decline to US$3.1 billion doesn’t mean Macau has begun a replay of the 2014-2016 slump that cratered casino revenue by 36 percent…. [continue reading]
Nearly forgotten, Riklis owned Riviera, helped create junk-bond financing that reinvented LV By John L. Smith, CDC Gaming Reports • January 30, 2019 I’ve given up wondering how Meshulam Riklis will be best remembered. Riklis, who died Jan. 25 in a Tel Aviv hospital at the remarkable age of 95, has been portrayed as a rags-to-riches business success in some ends of the… [continue reading]
What should Wynn Resorts pay Nevada to settle the company’s sexual misconduct case? By Howard Stutz, Executive Editor, CDC Gaming Reports • January 29, 2019 It’s ridiculous to think Wynn Resorts could escape paying a multi-million-dollar fine stemming from a 10-count complaint filed by Nevada gaming regulators that read like excerpts from a Law and Order: SVU script. But the company is nonetheless hopeful of… [continue reading]
Will Sports Betting Transform How Games Are Watched, and Even Played? By Bruce Shoenfeld, New York Times • January 29, 2019 Half an hour before a preseason hockey game last fall, Ted Leonsis strolled down the concourse of Capital One Arena in Washington, stopping every now and then to pose for someone’s selfie. Leonsis owns both the Washington Capitals, the National… [continue reading]
In Super Bowl: Patriots’ winning image creates a challenge for sports books By John L. Smith, CDC Gaming Reports • January 28, 2019 Everyone knows songwriter Randy Newman loves L.A. But Rams fans? Not so much. At least, not so much that they rushed out to Nevada’s sports books to bet on their favorite team against the New England Patriots in Sunday’s Super… [continue reading]
Fractions, decimals, and other measurements By Bernard Kroviak, CDC Gaming Reports • January 26, 2019 The circumference of Thistledown race track is one mile. Most other tracks are about the same, although some vary. (The real exception is Belmont Park, which is the biggest in the United States at a mile and a half.) A… [continue reading]
Brexit: A bettor’s guide By Luke Haward, CDC Gaming Reports • January 26, 2019 Brexit has become so endlessly drawn-out and depressing that it’s tough to even think about – let alone try to coherently write about – without a profound sense of existential dread. So let’s have a flutter on it. Why not?… [continue reading]
It is Time to Adapt to the 21st Century for Wynn and Okada By Ken Adams, CDC Gaming Reports • January 24, 2019 Steve Wynn and Kazuo Okada are two of the most successful men in gaming. Their careers span almost fifty years; each of them in his own way shaped the industry. Wynn and Okada are the same age, born in 1942. … [continue reading]
Value creation – a delicate balance By Andrew Tottenham, Managing Director, Tottenham & Co • January 23, 2019 Private equity (PE) has been quite active in the gambling market in the last year. This represents a change from a decade ago, when gambling became persona non grata for private equity due to profitability not coming anywhere near the… [continue reading]
2019 ICE London: The Naughty and The Nice By Luke Haward, CDC Gaming Reports • January 23, 2019 Last year’s exhibition was record-breakingly large, and this year is surely tipped to exceed that, with an incredible amount in store for attendees. Media coverage will of course be extensive, and I’ll be there doing the rounds on behalf of… [continue reading]
Wire Act reversal, panned by the gaming industry, was celebrated by one company By Howard Stutz, Executive Editor, CDC Gaming Reports • January 22, 2019 The geneses for last week’s stunning Department of Justice’s reversal of a seven-year-old interpretation of the Federal Wire Act probably took place in the Las Vegas Sands’ corporate offices shortly after Donald Trump was elected to the White House in… [continue reading]
As MLK Day passes, a reminder of the gambling ghosts of Vegas past By John L. Smith, CDC Gaming Reports • January 21, 2019 As short-lived as it was sensational, the Moulin Rouge casino on Bonanza Road long ago gained a mythical status in Las Vegas history. It is almost without exception the first name recalled when the conversation turns to casinos from segregated… [continue reading]
Illinois’s bet on expanded gambling poses risks By Jim Dey, The News-Gazette • January 21, 2019 With Illinois in desperate financial shape and a new governor taking office who advocates costly new social spending plans, the state is desperate for new revenue. So, once again, legislators who traditionally look for easy ways out of vexing problems… [continue reading]
Brian Sandoval Moves On By Ken Adams, CDC Gaming Reports • January 16, 2019 Beginning in 1996, Brian Sandoval was Nevada Assemblyman, chairman of the Nevada Gaming Commission, Attorney General of Nevada, a judge serving in the United States District Court or the District of Nevada and in 2011 he became Nevada’s 29th governor. … [continue reading]
Encore Boston Harbor casino project: a tough job to finish By John L. Smith, CDC Gaming Reports • January 16, 2019 It’s safe to say Peter Campo knows a challenge when he sees one. Campo, the director of construction for Wynn Resorts’ $2.6 billion Encore Boston Harbor, is responsible for bringing in a five-star, 600-room casino resort with a high-end spa,… [continue reading]
How Illinois Bet on Video Gambling and Lost By Jason Grotto and Sandhya Kambhampati, ProPublica Illinois, and Dan Mihalopoulos, WBEZ • January 16, 2019 With the last streaks of daylight fading on a mild October evening, the cars pulled up in waves at Piero’s Italian Cuisine, an old-school Las Vegas hotspot known for its osso buco. Cadillacs with tinted windows. Taxis and rideshares. A… [continue reading]
Icahn buying up Caesars stock, but what is his ultimate goal? By Howard Stutz, Executive Editor, CDC Gaming Reports • January 15, 2019 Oftentimes, the final intentions of corporate raider Carl Icahn are unclear when he focuses on the stock of a troubled company. Name an industry, and Icahn has probably dabbled in it. Trans World Airlines, U.S. Steel, King Pharmaceuticals, Motorola, Blockbuster,… [continue reading]
Impending sale of Frias cabs a sign of rapidly changing times in LV By John L. Smith, CDC Gaming Reports • January 14, 2019 It rarely pays to get too sentimental about a cab outfit, not even one in service in Las Vegas as long as the company founded by Charlie and Phyllis Frias has been motoring. It’s a tough business known for its… [continue reading]
The Everett casino and where it stands By Mark Arsenault, Boston Globe • January 13, 2019 Don’t have time to read every Greater Boston casino story? Just catch up with this one. We’ve anticipated your questions and provided some bite-sized answers. What is the extremely abbreviated background on the current brouhaha over the Wynn Resorts casino?… [continue reading]
Fifteen-year-old wins Spanish State Lottery El Nino jackpot By Luke Haward, CDC Gaming Reports • January 12, 2019 For lack of a better term, this one is a public relations nightmare for the Spanish gambling authorities: a fifteen-year-old boy named Cosmin Rotariu has won €200,000 in the Spanish State lottery. Start with the fact that the legal age… [continue reading]
The book that made me close my online gambling account By Paul Rouse, The Irish Examiner • January 10, 2019 n Christmas Eve, two emails arrived from paddypower.com. The timing was pretty awful — it would be true to say that the emails were a profound source of irritation. In fairness, in the greater scheme of things, they might be… [continue reading]
Playing Loose and Fast with the Truth By Ken Adams, CDC Gaming Reports • January 10, 2019 Imagine if you can, a 30-something couple sitting at a table in their local bar. They are telling their friends about a trip they took recently. In the story, the couple on vacation in a faraway place called The Strip,… [continue reading]
Corporate Strategy In 2019: A Changing of the Guard? By Luke Haward, CDC Gaming Reports • January 9, 2019 There has been a lot of talk towards the end of 2018 concerning new efforts by the UK gambling industry towards more responsible gambling. These have included private “leaders’ meetings” to discuss voluntary self-imposed advertising restrictions or caps, as well… [continue reading]
Looking back and forward By Andrew Tottenham, Managing Director, Tottenham & Co • January 9, 2019 2018 was a year to remember, possibly for all of the wrong reasons. For the European gambling industry, there was not much positive during the year, with plenty of bad news to write about. The exceptions are the successful opening… [continue reading]
Fractures appearing in NFL’s anti-gambling wall, but the structure is far from crumbling By Howard Stutz, Executive Editor, CDC Gaming Reports • January 8, 2019 One simple gesture along the Strip during the week prior to Feb. 3 will let us know if the National Football League’s long-standing hostility toward Las Vegas – and anything related to sports betting – has ended. If the marquee… [continue reading]
California tribal lawsuit should shake up state’s gaming regulators By John L. Smith, CDC Gaming Reports • January 7, 2019 It’s only January, but 2019 just got very interesting – dangerously so for the gambling gold mines of California. After watching what they believe has been a steady erosion of their exclusive casino gaming compact with the California government, three… [continue reading]
Billionaire, Bust And Back: One Of Las Vegas’ Original Moguls Is Winning Big Again By Abram Brown, Forbes • January 7, 2019 Summer usually quiets Las Vegas. But on a 101-degree day in June, gamblers stream into the downtown California Hotel, the original property of publicly traded Boyd Gaming. Bill Boyd, the company’s cofounder and executive chairman, is walking the casino floor,… [continue reading]
North Carolina should embrace sports gambling, or get left behind By Charles Gillespie, Charlotte Observer • January 5, 2019 Back in 2003 when I was an undergraduate at the University of North Carolina, online poker and online sports betting took the campus by storm. We very much felt that we were part of a movement, the birth of a… [continue reading]
Long vs. Short: Can Wynn Casinos Recover From Steve Wynn’s #MeToo Scandal? By Steve Friess, Intelligencer, New York Magazine • January 4, 2019 Of the many powerful men brought down by the #MeToo movement, the disgrace visited upon casino mogul — and high-profile Trump booster — Steve Wynn may well have been the costliest to the greatest number of people. Since February, when… [continue reading]
Las Vegas Casinos Get The November They Needed By David G. Schwartz, Forbes • January 4, 2019 November, like October, was a good month for gaming operators in Nevada. With many indicators up, it appears that the summer slowdown is as much a memory as triple-digit temperatures in the currently chilly Mojave. This will likely boost investor… [continue reading]
Changing tribal gaming compacts promises to become a top story in 2019 By John L. Smith, CDC Gaming Reports • January 2, 2019 It’s a time of year for predictions, and this one is easy: We will hear a lot about the definition of “exclusivity” in the next dozen months as states with tribal casinos test alliances and gaming compacts. Much is at… [continue reading]
Sports betting may seem easy. It’s not. Here’s why By Wayne Parry, Associated Press • January 2, 2019 ATLANTIC CITY, N.J. (AP) — Wanna bet on sports? First, make sure you know what you’re doing — and the odds against you. Seven U.S. states now offer legal sports gambling, and as many as 30 more will consider jumping… [continue reading]
Wynn trademark infringement lawsuit against Resorts World Las Vegas seems overblown By Howard Stutz, Executive Editor, CDC Gaming Reports • January 1, 2019 For a nanosecond the other day, I thought Steve Wynn had returned to the helm of Wynn Resorts. How else can you explain the federal lawsuit the company filed just before Christmas against the developer of the $4 billion Resorts… [continue reading]
Italian Senate passes new gambling taxes, hitting industry hard By Luke Haward, CDC Gaming Reports • December 30, 2018 Now that last week’s proposed amendments to Italy’s budget have been confirmed and passed by the Italian Senate by a rather resounding 167-to-78 margin, Italian gambling firms must be feeling as if the government is adding insult to injury. A… [continue reading]
Muscles, Eyes, and Other Body Parts By Bernard Kroviak, CDC Gaming Reports • December 30, 2018 One has to remember that young horses, like young children, have muscles, most of which are not yet developed. For horses to be ready to race, they need to first develop muscle strength and lung capacity. Doing this takes hours… [continue reading]
2018: An amazing year in gaming going, going, gone By John L. Smith, CDC Gaming Reports • December 29, 2018 “In a year that has been so improbable, the impossible has happened.” — Vin Scully The great Los Angeles Dodgers announcer Vin Scully was talking about the dramatic game-winning home run Kirk Gibson hit in the 1988 World Series, but… [continue reading]
A Wild and Crazy Year for Gaming By Ken Adams, CDC Gaming Reports • December 28, 2018 The narrative that has grabbed the most headlines and inches of copy in 2018 is sports betting. The Supreme Court of the United States overturned the Professional and Amateur Sports Protection Act of 1992 in May, or as one clever… [continue reading]
Reports Of Macau Demise Greatly Exaggerated, Tokyo Mon Amour, More 2019 Trends By Muhammad Cohen, Forbes • December 26, 2018 Every year, I forecast key trends and events for the next 12 months then grade those predictions at the end of year. Here are forecasts for 2019. Reports of Macau’s demise are greatly exaggerated: Like mediocre military strategists, Macau casino investors are… [continue reading]
Trump’s Palace Casino That Wasn’t By David G. Schwartz, Forbes • December 24, 2018 Before he was President, before he was the star of The Apprentice, Donald Trump was a merely a high-profile real estate developer and casino owner. He had a long run in Atlantic City, where he expanded his casino empire to,… [continue reading]
UK Gambling Commission Investigates Unlicensed Casino Streaming on Twitch By Luke Haward, CDC Gaming Reports • December 21, 2018 The journos at video game journalism site Eurogamer should be congratulated for performing a public service. Their investigations into Twitch’s streaming of online casino gaming exposed at least two unlicensed services being streamed and promoted there. To the UK Gambling… [continue reading]
Macau’s Bridge Too Far – From Everything But Hong Kong International Airport By Muhammad Cohen, Forbes • December 21, 2018 The Hong Kong-Zhuhai-Macau Bridge opened in October but the impact of the world’s longest sea crossing on Macau’s tourism and gaming sectors has been muted. A test ride across the US$20 billion, 55 kilometer (34 mile) span confirms that the… [continue reading]
Are There Signs of Recovery in Atlantic City? By Ken Adams, CDC Gaming Reports • December 20, 2018 The casinos in Atlantic City are having the best year they have had in ten years and some people are beginning to speculate the city is back on the road to prosperity. For the first ten months of 2018, the… [continue reading]
Sports betting may work on Beale Street. But will it work to worsen people’s lives? By Tonyaa Weathersbee, Memphis Commercial Appeal • December 20, 2018 As far as sports betting goes, Beale Street is an ideal spot. It already attracts tourists who, if they bet on sports there, they’ll likely eat at Beale Street restaurants or hang out at its clubs and leave after a… [continue reading]
Instant Expert Legal Analysis Of The Federal Sports Betting Bill – Part 1 By John Holden, Legal Sports Report • December 20, 2018 On a Wednesday, exactly six days before Christmas, Sens. Orrin Hatch (R-UT) and Chuck Schumer (D-NY) elected to drop a 101-page federal sports betting bill on the world. The bill closely follows a discussion draft circulated weeks earlier. While it… [continue reading]
Betting on the Future for Gambling Advertising By Luke Haward, CDC Gaming Reports • December 19, 2018 A fascinating study entitled “Controlling the Illusion of Control”, on the subject of patterns in gambling advertising, was published in late 2017 in the journal International Gambling Studies. The study recommends that a subject of concern to regulators, based on… [continue reading]
… And Eventually There Might be Just One By Andrew Tottenham, Managing Director, Tottenham & Co • December 19, 2018 The UK Gambling Commission has initiated a consultation on a new national strategy to reduce gambling harms, with the current strategy officially ending in March 2019. What’s particularly interesting is that the Gambling Commission has sought this input in its… [continue reading]
The guessing game has begun as industry insiders ponder Isaacs’ next move By Howard Stutz, Executive Editor, CDC Gaming Reports • December 18, 2018 On the same day gaming executive Gavin Isaacs changed his LinkedIn profile job status to ‘TBA,’ Scientific Games filed a one sentence statement with the Securities and Exchange Commission announcing his resignation as vice chairman of the gambling equipment provider’s… [continue reading]
The fine print in Maryland’s gambling expansion bites us again By Baltimore Sun • December 18, 2018 In November, Marylanders voted overwhelmingly to erase some of the fine print they had missed when they voted 10 years before to legalize slot machine gambling. It seems people had gotten the impression that this new money would go toward… [continue reading]
Oklahoma: New Gov. Stitt should honor Enid City’s wishes on Indian casino denial By Enid News & Eagle Editorial Board • December 18, 2018 The anti-casino message was strong and swift. With a 5-2 vote Tuesday night, the Enid City Commission rejected an offer to support plans by the United Keetoowah Band of Cherokee Indians in Oklahoma to build a casino in east-central Enid…. [continue reading]
The 5 Biggest Casino Gaming Stories of 2018 By David G. Schwartz, Forbes • December 17, 2018 With 2018 almost over, it’s time to consider just what the biggest news-makers were for the casino industry in that year. 2018 did not lack for either headlines or significant changes in the gaming industry, which continues to adapt to… [continue reading]
Lotte Tour Bets Korea Casino Resort Towers Can Stack Up By Muhammad Cohen, Forbes • December 13, 2018 At the center of South Korea’s Jeju Island rises the nation’s tallest mountain, Halla, an icon attracting millions of visitors annually. In the center of Jeju City, Jeju Dream Tower is rising as the island’s tallest building. At 38 stories,… [continue reading]
Barclays releases mobile app featuring ability to block gambling transactions By Luke Haward, CDC Gaming Reports • December 13, 2018 Barclays Bank have become the first major high street bank in the UK to offer a new form of mobile banking. The latest version of the bank’s mobile app offers customers the option to block a number of different types… [continue reading]
A Lottery Payroll Deduction; Speed Dialing Tax By Ken Adams, CDC Gaming Reports • December 13, 2018 According to Wikipedia, speed dial is a function available on many telephone systems; it allows a person to place a call more quickly and with much less effort. It is a great idea, a person no longer has to laboriously… [continue reading]
Why gambling used to scare baseball and why it doesn’t anymore By Grant Brisbee, SB Nation • December 13, 2018 The mayor of Las Vegas attended the Major League Baseball Winter Meetings in 2004 with a showgirl on each arm and an Elvis impersonator behind him. This is not an exaggeration. Oscar Goodman was a former mob lawyer who represented… [continue reading]
Can Elaine Wynn hold on to the casino her ex-husband lost? By Rachelle G. Cohen, Boston Globe • December 12, 2018 It’s a tale right out of “First Wives Club” – except better . . . way better. He can’t keep his hands off the hired help (“The manicurist, oh for god’s sake, what are you thinking!”) But times change and… [continue reading]
Will the Phoenix Suns move to Seattle or Las Vegas if an arena deal fails? By Laurie Roberts, Arizona Republic • December 12, 2018 Splash one arena deal. Phoenix Mayor Thelda Williams and Councilwomen Laura Pastor and Debra Stark have asked for a postponement of this afternoon’s City Council vote on whether to spend $150 million upgrading the Suns arena. This, because the deal… [continue reading]
On the road with AGS: Gaming equipment maker highlights growing opportunities By Howard Stutz, Executive Editor, CDC Gaming Reports • December 11, 2018 Two top executives from casino equipment provider AGS met recently with investment managers in San Francisco and Denver. Union Gaming Group analyst John DeCree went with them. The Las Vegas-based manufacturer wasn’t seeking money. The non-deal road show allowed AGS… [continue reading]
Ruffin keeps moving, this time into Florida, but will Trump slow him down? By John L. Smith, CDC Gaming Reports • December 10, 2018 Phil Ruffin was an enormously successful businessman before he entered the competitive Las Vegas gaming scene with the acquisition of the Frontier Hotel & Casino and subsequent purchase of the Treasure Island. He was a successful Strip casino operator before… [continue reading]
Why Las Vegas Is Still America’s Most Sinful City By David G. Schwartz, Forbes • December 10, 2018 It came as no surprise that a recent WalletHub study named Las Vegas the most sinful city in the United States. After all, “Sin City” has to be more than just marketing fluff, right? Las Vegas definitely is sinful, at… [continue reading]
Chips are down in Macau for America’s casino kings By Nisha Gopalan, Bloomberg • December 9, 2018 If any worsening of the trade war leads China to call for a boycott of U.S. companies, America’s casino kings will be sweating. Three American companies — Las Vegas Sands Corp., founded by Republican Party donor Sheldon Adelson; Wynn Resorts… [continue reading]
UK Bookies Review Option of Setting Voluntary Advertising Restrictions By Luke Haward, CDC Gaming Reports • December 7, 2018 When the Remote Gambling Association, the major voice for Europe’s online gambling industry, wants to sit down with its UK members and talk over steps to improve responsible gambling and the industry’s public image, we know that stuff just got… [continue reading]
Atlantic City mayors are so corrupt they’re bad for casino industry’s image By John L. Smith, CDC Gaming Reports • December 5, 2018 Atlantic City has been making an economic comeback, but it appears Mayor Frank Gilliam may not be around to celebrate it. Like so many New Jersey mayors before him, he’s otherwise occupied by a political corruption investigation. And to think… [continue reading]
Lessons to be Learned By Andrew Tottenham, Managing Director, Tottenham & Co • December 5, 2018 The US Supreme Court’s 6 – 3 decision in May of this year, ruling that the Professional and Amateur Sports Protection Act (PASPA) was unconstitutional, has opened the door for sports betting on a state by state basis. Gambling companies… [continue reading]
Thinking of the Children: Where to from Here? By Luke Haward, CDC Gaming Reports • December 5, 2018 The UK Gambling Commission recently released their annual edition of their publication “Young People & Gambling”. The report has a number of key findings which might give us pause for thought. Perhaps most important, while 1.7% of children aged 11-16… [continue reading]
Quietly, Resorts World Las Vegas on track to be the Strip’s first new mega-resort in nearly a decade By Howard Stutz, Executive Editor, CDC Gaming Reports • December 4, 2018 On a brisk December morning, the $4 billion Resorts World Las Vegas development was abuzz with activity. Along the Las Vegas Strip, onlookers could spot four cranes lifting pieces of construction material into place for the S-curved towers. From the… [continue reading]
Ghosts of Glitter Gulch: Bygone Fremont Street casino offers lesson for modern era By John L. Smith, CDC Gaming Reports • December 3, 2018 These days it’s just another ghost of Glitter Gulch, but there was a time in the 1970s when the Gambler’s Hall of Fame Casino hustled slot players on Fremont Street. It would never match the action at Binion’s Horseshoe Club or… [continue reading]
Seven Leadership Mistakes Casino Slot Managers Warn Against By David G. Schwartz, Forbes • December 3, 2018 Last week, I shared six leadership secrets for good management excerpted from Tales from the Slot Floor, a collection of edited interviews with casino slot managers, To recap, this book is based on a series of interviews with veteran slot… [continue reading]
Legal sports wagering has transfixed the nation’s gaming industry By Howard Stutz, Executive Editor, CDC Gaming Reports • December 2, 2018 Forget new casino openings. Legal sports wagering is the gaming industry’s fastest growth vehicle. Last week, before New York City became the gambling universe’s 50-yard-line for the ICE Sports Betting USA conference, representatives of H2 Gambling Capital visited separately with… [continue reading]
Pachinko mogul Okada clashes with Wynn, Universal spin ahead in Philippines, Japan, America By Muhammad Cohen, Forbes • December 2, 2018 After spending three and a half hours listening to Kazuo Okada, the deposed founder of Japan’s Universal Entertainment and dispossessed co-founder of Wynn Resorts, and spending twice as many years following the saga of Okada and Universal versus Steve Wynn… [continue reading]
Report on young people and gaming released by UK commission By Luke Haward, CDC Gaming Reports • December 1, 2018 Young People & Gambling 2018, a research study into the gambling habits of teenagers in Great Britain, turned up some interesting observations. An astonishing total of 32.5 percent, almost a one-third of all children aged 11 through 16 in Great… [continue reading]
Second Philadelphia casino a bad bet for a city struggling with poverty By The Philadelphia Inquirer • November 30, 2018 The long-delayed casino near the sports stadium complex in South Philadelphia received another extension from the often-acquiescent Pennsylvania Gaming Control Board. This casino has gone through changes in names, locations, and owners since the license was awarded in 2006 to… [continue reading]
American gamble: Tiger and Phil find a tough crowd for their head-to-head pay TV match By John L. Smith, CDC Gaming Reports • November 28, 2018 Golf is known for its well-mannered galleries, where volunteer ushers raise “Quiet” and “Hush” paddles and masses follow directions like well-trained retrievers. But it looks like champion golf hustlers Tiger Woods and Phil Mickelson found a much tougher crowd for… [continue reading]
Answers needed on fate of Everett casino license By Boston Globe Editorial • November 28, 2018 The house always wins. They know that in Las Vegas. But in Massachusetts, well, not so much. And right now the Massachusetts Gaming Commission — which faces a $2.6 billion decision on the Wynn Resorts Casino rising in Everett —… [continue reading]
Mass Shopping, Big Sales and the Thanksgiving Weekend By Ken Adams, CDC Gaming Reports • November 28, 2018 Thanksgiving has become the busiest travel and shopping holiday of the year. It is a great time for retail sales and travel destinations, but it is not without its potential liabilities. In the long-term, those who benefit today may suffer… [continue reading]
Kerkorian insiders describe late billionaire as understated but a shrewd businessman By Howard Stutz, Executive Editor, CDC Gaming Reports • November 27, 2018 Kirk Kerkorian was the most media-shy gaming executive I have covered in some 30-plus years following the casino industry. He was also, easily, the most influential. From the early 1960s until his death at age 98 in June 2015, the… [continue reading]
Tribal politics aside, Arizona a natural for legalized sports betting By John L. Smith, CDC Gaming Reports • November 26, 2018 FLAGSTAFF — The home crowd loves its North Arizona University Lumberjacks, win or lose. The affection for the home team runs hot in small college towns and big-league cities from here to Miami. Citizens of every state like to imagine… [continue reading]
Six Leadership Secrets From Casino Slot Managers By David G. Schwartz, Forbes • November 26, 2018 Earlier this year, I published Tales from the Slot Floor, a collection of edited interviews with casino slot managers, part of a larger project that captured how the discipline of casino management has changed and continues to evolve in the… [continue reading]
Best bet to combat gambling? Teach children bookies’ odds don’t add up By Greg Wood, The Guardian • November 25, 2018 Two stories over the past few days can only have reinforced the view of some – perhaps many – sports fans that the UK’s gambling industry is out of control. First came the news Bet365, the country’s biggest online bookmaker,… [continue reading]
A Guy’s First Race Horse By Bernard Kroviak, CDC Gaming Reports • November 24, 2018 The Breeders’ Cup, thoroughbred horse racing’s Championship day, was run earlier this month at Churchill Downs. A total of 221 horses were entered in this year’s Cup races. Many of these mounts were home-bred, meaning that they were bred and… [continue reading]
Sports book or casino – which one is the best bet for you? By Dave Nash, the SportsDaily • November 22, 2018 Whether they are exploring the strip in Vegas or touring the virtual world on a smartphone, when it comes to the games people play, they generally have two questions fairly close to the front of their mind. What are the… [continue reading]
Too many children are hooked on gambling. Why aren’t they protected? By Marc Etches, The Guardian • November 22, 2018 Gambling is everywhere. It is on our TVs during football games, on our smartphones and computers, in video games and on our high streets. For adults, this can be a serious issue, particularly if you suffer from addiction, or are… [continue reading]
Nobody Harmed By Andrew Tottenham, Managing Director, Tottenham & Co • November 21, 2018 Recently I attended an event entitled “Nobody Harmed by Gambling”, organised by the bookmakers William Hill. The intent of the meeting was to start a conversation about how to reduce, to a bare minimum, the harm caused by abnormal gambling… [continue reading]
Novomatic Group In Austrian Gambling Addict Payout Court Ruling: A Case Study By Luke Haward, CDC Gaming Reports • November 21, 2018 A ruling has been issued in a regional court in Austria which presents a host of fascinating questions for the gambling industry, whether or not the decision is later overruled by a higher court within Austria, or even, ultimately, by… [continue reading]
An update on events in Greece By Andrew Tottenham, Managing Director, Tottenham & Co • November 21, 2018 Loutraki is not the only casino that has not been paying its staff on time. Apparently, the Porto Rio Casino in Patras, Greece has been delinquent in paying its staff due to low revenues. The staff have become so frustrated… [continue reading]
Harris shows political savvy as Nevada Gaming Control Board approves sexual harassment regulation changes By Howard Stutz, Executive Editor, CDC Gaming Reports • November 20, 2018 Two weeks after Becky Harris was named as the first woman to lead the Nevada Gaming Control Board in the state agency’s 63-year history, the #MeToo movement engulfed the Las Vegas casino industry. In January, a Wall Street Journal article… [continue reading]
No recount needed: Florida gambling amendment does not cover sports betting By Daniel Wallach, Forbes • November 20, 2018 Florida’s gubernatorial and Senate races are not the only ballot items from Election Day that are undergoing re-examination. It turns out that the ballot question on the future of casino gambling in the Sunshine State is likewise the subject of… [continue reading]
Taylor and other unsung Nevada gaming investigators are something to be thankful for By John L. Smith, CDC Gaming Reports • November 19, 2018 Nevada’s casino history is noisy with notorious scammers. Some concoct clever and complex ways to cheat the games. Others keep it simple and just steal. In the last couple decades, their names wind up on James Taylor’s desk at the… [continue reading]
Acquisitions, Mergers and REITs: The Way Things Are Done These Days By Ken Adams, CDC Gaming Reports • November 15, 2018 The sales of three properties, Greektown in Detroit, Atlantic Club Casino in Atlantic City and Kentucky Downs in Kentucky, were announced in the same week. Terms were not disclosed on the Atlantic Club or Kentucky Downs, but Greektown was reportedly… [continue reading]
UKGC chief says industry needs better customer understanding By Luke Haward, CDC Gaming Reports • November 15, 2018 UK Gambling Commission Chief Executive Neil McArthur spoke at the Raising Standards Conference in Birmingham last week, using his time at the podium to call on the industry to collaborate and to strive to understand their customers better in order… [continue reading]
MGM Resorts can’t escape the 1October connection even at a football game By Howard Stutz, Executive Editor, CDC Gaming Reports • November 13, 2018 We hit our first speed bump over the weekend in the rushed marriage between professional sports and legal sports wagering. And it had nothing to do with gambling. Last month, the New York Jets and MGM Resorts International established a… [continue reading]
How 2018 Will Define The Future Of Las Vegas Casinos By David G. Schwartz, Forbes • November 13, 2018 There are certain years that, at the end of which, the world moves closer to the future than the past, years that mark major shifts in how we see the world, or a small part of it. It’s possible that… [continue reading]
Scandal-plagued CG Technology hopes for a break from the Nevada umpire By John L. Smith, CDC Gaming Reports • November 12, 2018 Sports betting company CG Technology has a history of breaking the rules. Now it’s hoping that three strikes won’t mean it’s out of the ballgame in Nevada. Facing the threat of losing its gaming license at a time legalized bookmaking… [continue reading]
New Mexico lawmakers can’t let rogue sports betting ride By Albuquerque Journal Editorial Board • November 11, 2018 When the U.S. Supreme Court struck down a federal law earlier this year banning sports gaming in most states, justices made it clear that states should decide the issue, not the federal government. “The legalization of sports gambling requires an… [continue reading]
It’s all going dark again in the gambling capital of the world By Linette Lopez, Business Insider • November 11, 2018 We know that China’s economy is slowing dramatically, and one of the places where you can see that very clearly is Macau, the gambling capital of the world. Wall Street was reminded of that on Wednesday, when Wynn Resorts reported… [continue reading]
UK Minister who resigned over FOBTs delay speaks out By Luke Haward, CDC Gaming Reports • November 10, 2018 Former Minister for Sports Tracey Crouch spoke out last week about her decision days earlier to resign her post. By this point it was well understood that her resignation concerned the six-month extension granted by the government to the planned… [continue reading]
The Mid-Term Elections of 2018: Over at Last By Ken Adams, CDC Gaming Reports • November 8, 2018 Whew, the mid-term elections are in the rear view mirror. It brings an end to incessant political advertisements and speeches, to a daily stream of emails soliciting support and the harassing robocalls. The campaigning was intense, the rhetoric inflamed and… [continue reading]
Adelson reminded that, even in Nevada, it’s not easy being king By John L. Smith, CDC Gaming Reports • November 7, 2018 Nevada history is crammed with self-appointed kings. Whether it was the silver barons of the Comstock Lode era, banker and political racketeer George Wingfield, crude Senate powerhouse Pat McCarran, or eccentric billionaire Howard Hughes, their audacious grasps for absolute power… [continue reading]
UK Forecast: The New Politics of Gambling By Luke Haward, CDC Gaming Reports • November 7, 2018 A minister has resigned, major bookkeepers are taking steps against gambling ads during live sports broadcasts (or at least against their proliferation), the Tories are being advised to take a leaf from Labour’s book when it comes to gambling policy,… [continue reading]
Not everything in Greece is as straightforward as it appears By Andrew Tottenham, Managing Director, Tottenham & Co • November 7, 2018 The publication of the RFP for the new casino license in the Hellinikon project in Athens has been delayed. It was supposed to have been issued last month, but the delay is not surprising given the complexity of this RFP…. [continue reading]
William Hill takes a big punt on the US market By Nils Pratley, The Guardian • November 6, 2018 Farewell to the FOBTs, if only in supercharged form. William Hill is off to the US to seek its fortune. That, at least, was the gist of chief executive Philip Bowcock’s pitch to investors that set the eye-catching ambition to… [continue reading]
The distance between professional sports and legal gambling has diminished By Howard Stutz, Executive Editor, CDC Gaming Reports • November 6, 2018 When Horseshoe Casino Cleveland opened in 2012, the property took out a large advertisement on the right field wall of nearby Progressive Field, home of Major League Baseball’s Cleveland Indians. The message was simply the Horseshoe’s logo. The casino did… [continue reading]
It’s remarkable how attitudes toward sports betting have evolved By John L. Smith, CDC Gaming Reports • November 5, 2018 I can talk all day about how much the views on sports betting and bookmaking have changed. Or I can just show you. While researching another topic this past week I came across a Gannett News Service article from 1981…. [continue reading]
Albania bans sports betting & online gambling By Luke Haward, CDC Gaming Reports • November 4, 2018 The Albanian parliament late last week passed a law banning several forms of gambling in a major move aimed at preventing and minimising illegal activities surrounding match fixing as well as curbing gambling addiction. The measure is also intended to… [continue reading]
How NBA sparked the American sports gambling gold rush By David Purdum, ESPN • November 1, 2018 ATLANTIC CITY, N.J. — On a Saturday afternoon in October, the race and sportsbook at the Borgata Hotel Casino is packed with horse racing enthusiasts cheering on the ponies. No one is paying attention to what’s hanging on the wall,… [continue reading]
The Man Who Would Be Wynn By Muhammad Cohen, Inside Asian Gaming • November 1, 2018 Kazuo Okada and Steve Wynn jointly created Wynn Resorts. In February 2012, Wynn Resorts directors removed Okada as vice chairman and redeemed Universal Entertainment’s 20% stake at a US$900 million discount, payable over 10 years, accusing Okada of granting improper… [continue reading]
Legalized sports betting is one bet paying off By Tim Dahlberg, Associated Press • October 31, 2018 The action is coming fast and heavy. A bettor in New Jersey used his mobile app to win $325,000 on a $500,000 wager on Boston to win the World Series. Another DraftKings bettor hit a longshot money line parlay on… [continue reading]
LV Strip calling Boyd and Eldorado, but neither ready to take the plunge By Howard Stutz, Executive Editor, CDC Gaming Reports • October 30, 2018 Boyd Gaming Corp. and Eldorado Resorts each spent the past 18 months creating two regional casino giants. Boyd has 29 properties in 10 states, Eldorado 26 locations in 12 states. But there’s one place neither Nevada-based company currently operates –… [continue reading]
California tribal challenge a reminder for leaders to remain vigilant By John L. Smith, CDC Gaming Reports • October 29, 2018 It’s something Dennis Hendricks couldn’t stress enough at the 2018 Global Gaming Expo in Las Vegas. In fact, during his panel discussions it’s something that rarely seemed to leave his mind. Hendricks, treasurer of the California Nations Indian Gaming Association… [continue reading]
Has Louisiana already missed the boat on sports betting? By Dan Jovic, ArkLaTex • October 26, 2018 Biloxi, MS – Capitalizing on opportunities, it’s how games are won in sports. A multi-billion dollar opportunity in sports gaming is presenting itself nationwide. So far only one southern state is capitalizing. “It’s been so well received here and it’s… [continue reading]
Casinos: A Good Gamble for Arkansas? By Susanne Brunner, KARK-TV • October 25, 2018 SHREVEPORT, La. – On Election Day, Arkansas voters will cast ballots for or against Issue 4. It would amend the Arkansas Constitution to authorize four casinos to operate in the state. Susanne Brunner went to Shreveport Louisiana to learn more… [continue reading]
Italy gambling survey says most gamblers report “no link” between gambling & advertising By Luke Haward, CDC Gaming Reports • October 25, 2018 A landmark study commissioned by the Italian Health Research Body Istituto Superiore di Sanita (ISS) has cast some degree of doubt upon the relationship between people viewing gambling advertising and then choosing to gamble, with roughly 80% of the study’s… [continue reading]
‘Boutique Thunderbird’ conjures apparition from Las Vegas history By John L. Smith, CDC Gaming Reports • October 24, 2018 You can’t reasonably call the Thunderbird Boutique Hotel on Las Vegas Boulevard a chip off the old block – and that’s a good thing. Although Las Vegas historians and longtime locals will quickly make the connection between its name and… [continue reading]
How a Founder’s Ball Became the Foundation of a Big Dance By Ken Adams, CDC Gaming Reports • October 24, 2018 On October 23rd an article in the Becker Hospital Review reported on a casino-themed, charity fund raiser called the Founder’s Ball held in Brooklyn, New York. The event was attended by 850 people and raised $1.5 million for the hospital. … [continue reading]
After an active 2018, casino company mergers just getting started By Howard Stutz, Executive Editor, CDC Gaming Reports • October 23, 2018 More than $8.6 billion in casino company buyouts are in the books for 2018, but don’t think the merger and acquisition market is slowing down. To paraphrase Al Pacino in Scent of Woman, in fact, we’re “just getting warmed up.”… [continue reading]
Expand gambling? Save an Idaho industry? A look at the claims facing voters this fall By Robert Patten, East Idaho News.com • October 22, 2018 One of the most contentious and expensive items on Idaho’s November ballot centers around a piece of electronics the size of a fridge. This machine — a “historical horse racing” terminal — could either boost Idaho’s horse racing industry and… [continue reading]
Small tribal casinos’ dilemma: Growing gaming in Indian Country By John L. Smith, CDC Gaming Reports • October 22, 2018 After listening to tribal casino executives during the recent Global Gaming Expo offer their insights into how small Native American gaming operators expand their business, it was hard not to be left less than enthusiastic. The presentation was interesting enough,… [continue reading]
Trump ties won’t help Sheldon Adelson win a casino license in Japan By Muhammad Cohen, Forbes • October 22, 2018 Donald Trump is trying to help major campaign donor Sheldon Adelson get a casino license in Japan. That’s a key assertion in investigative journalism group ProPublica’s report on the relationship between the U.S. President and Las Vegas Sands founder with… [continue reading]
Did New Jersey Fumble Sports Betting In September? By David G. Schwartz, Forbes • October 22, 2018 After years of lobbying and legal maneuvering, the Supreme Court in May rescinded the Professional and Amateur Sports Protection Act of 1992, which had kept most forms of sports betting confined to Nevada. States from Mississippi to New Jersey have… [continue reading]
Macau is marrying George Clooney, investors want it to keep dating Donald Trump By Muhammad Cohen, Forbes • October 21, 2018 So much for Macau casinos quieting investor worries. September gross gaming revenue showed the smallest improvement in 25 months, third quarter figures underline decelerating high end growth, Golden Week was not shiny enough, share prices keep sliding, a tighter smoking… [continue reading]
Got an extra million dollars lying around? By Bernard Kroviak, CDC Gaming Reports • October 20, 2018 Last month, there were two horse sales of great significance, one held in England and the other in Kentucky. Both sales dealt with yearlings – horses who had not yet reached age two. It should be noted – although you… [continue reading]
Paddy Power Betfair fined £2.2 million by UK Gambling Commission By Luke Haward, CDC Gaming Reports • October 18, 2018 The big news splashed across the national press on this side of the pond this morning is that gambling giant Paddy Power Betfair has been fined £2.2 million by the UK Gambling Commission. This fine follows a lengthy investigation by… [continue reading]
The New Strip on the Atlantic Coast By Ken Adams, CDC Gaming Reports • October 18, 2018 There are 38 casinos located in seven states between Boston and Washington, D. C. The long line of casinos might easily be called a strip, not unlike the Strip. On the Atlantic Strip, the casinos are being built as close… [continue reading]
Florida: Don’t let the gambling industry confuse you on Amendment 3 By Fabiola Santiago, Miami Herald • October 18, 2018 Politicians count on voters having short memories: forgetting, and by proxy, forgiving the bad policy they championed, the bad votes they cast. I seldom forget the battles, and definitely not the big ones, like the Florida Legislature’s recent attempts to… [continue reading]
Sky Bet Releases “Three Simple Tools” Safer Gambling Campaign By Luke Haward, CDC Gaming Reports • October 17, 2018 The evidence was in last year, when the UK Gambling Commission’s behaviour, awareness and attitudes survey showed that the number one quality sought by the betting public in a gambling company was a fair and trustworthy reputation. In the face… [continue reading]
Corporate social responsibility in gambling: What’s the end game? By Luke Haward, CDC Gaming Reports • October 17, 2018 Short-term thinking is an affliction deep-rooted and almost definitional to the nature of a corporate structure. It presents major challenges across most industries, including the gambling sector. The emphasis on turning maximum profits in the immediate term and a healthy… [continue reading]
Gambling on the Blockchain By Andrew Tottenham, Managing Director, Tottenham & Co • October 17, 2018 Whilst at this year’s Global Gaming Expo I sat in on a talk entitled “Gambling on the Blockchain.” It was a fascinating look at how this emergent technology is being used in sectors of the gambling industry. I left the… [continue reading]
Turbulent stock market disconnected from gaming universe during G2E-crazed Las Vegas By Howard Stutz, Executive Editor, CDC Gaming Reports • October 16, 2018 While the industry partied in Las Vegas during the Global Gaming Expo, Wall Street burned. Last week’s stock market plunge – the Dow Jones Industrial Average fell nearly 1,400 points over two days – eliminated much of the value gained… [continue reading]
Joystick nostalgia: Pac-Man Battle Casino joins fight for younger slot players By John L. Smith, CDC Gaming Reports • October 15, 2018 Not every column includes a confession. This one has two. First, my own. There was a time I was addicted. Not to booze or barbiturates. To Pac-Man. And Missile Command. And Centipede. And Asteroids a little bit. I didn’t need… [continue reading]
Lucky Dragon casino was supposed to be a Vegas hot spot for Asians. Two years later, it’s going up for auction By David Montero, The Los Angeles Times • October 15, 2018 It opened up in the Year of the Monkey and closed in the Year of the Dog — a two-year stretch of bad fortune for a casino that once had designs on being the go-to place for an authentic Asian… [continue reading]
State’s gambling revenues need a designated home By The Lewiston (Pa.) Sentinel • October 12, 2018 In the 2 1/2 months since the Supreme Court cleared the way for states to legalize sports betting, the state of New Jersey took in $1.1 million from its 8.5 percent tax on gambling. That came from $153 million spent… [continue reading]
The Rio Rumor: True or False? By Ken Adams, CDC Gaming Reports • October 11, 2018 There are rumors floating around Las Vegas that the Rio is for sale. One rumor says there are several suitors and the property is already scaling back some operations in preparation for new bosses. Another speculates the property is to… [continue reading]
For brave new world of legalized sports betting, biggest news yet to come By John L. Smith, CDC Gaming Reports • October 10, 2018 If you think the world of legalized sports betting turned upside down in 2018, just wait until next year. That’s the clear message sent Tuesday at the Global Gaming Expo in Las Vegas during a dynamic presentation on the Sands… [continue reading]
Everi Holdings using G2E to showcase company’s growth prospects for 2019 and beyond By Howard Stutz, Executive Editor, CDC Gaming Reports • October 9, 2018 Everi Holdings hasn’t always been the easiest company for the investment community to understand. Born out of the 2014 buyout of slot machine maker Multimedia Games by payment processing business Global Cash Access for $1.2 billion, Las Vegas-based Everi was… [continue reading]
In a post-Steve Wynn casino industry, an emphasis on empowering women By John L. Smith, CDC Gaming Reports • October 8, 2018 In an industry long dominated by men, this is as close as I’ve ever seen to the year of the woman at the Global Gaming Expo in Las Vegas. It’s unofficial, of course. There are no banners to that effect. But… [continue reading]
Outsiders Still Misunderstand Japan Casino Opportunity By Muhammad Cohen, Forbes • October 8, 2018 A recent entry on a investing discussion board asked, “In which quarter in 2019 do you think Japan will determine the three [casino] licensees?” Might as well ask, “In which quarter in 2019 do you think medical science will conquer… [continue reading]
Compulsive gambling stats should be on table By The Daily Item (Susquehanna) • October 8, 2018 It’s “game on” in Pennsylvania. Within the past 14 years, Pennsylvania lawmakers have done what few other states have even attempted, swinging open the casino doors to a myriad of on-site and online gambling options. Legal gaming began in Pennsylvania… [continue reading]
Tottenham Hotspurs betting partner 1XBet found to take cockfighting bets online By Luke Haward, CDC Gaming Reports • October 6, 2018 When Tottenham Hotspurs announced last month it was partnering with the Russian betting firm 1XBet for its sponsorship in Africa, nobody foresaw the fallout to come. The firm’s site, www.uk-1xbet.com, is fully licensed and legal, and permits gambling from the… [continue reading]
If legalized gambling is the future, our sports are really in trouble By Thomas Boswell, The Washington Post • October 4, 2018 “I liken sports betting more to Wall Street . . . I don’t believe it’ll be considered a game of chance. I think it will be a game of skill, just like you can be a day trader — you can be… [continue reading]
The UK Gambling Industry: Change (Under New Management) or Decline? By Luke Haward, CDC Gaming Reports • October 3, 2018 The cartoon version of the UK gambling industry probably would have it as a naughty schoolboy who knows he’s done wrong, fearing a severe punishment from the new headteacher. But an alternative might be a dinosaur, set in its ways… [continue reading]
The state of gambling in Great Britain By Andrew Tottenham, Managing Director, Tottenham & Co • October 3, 2018 Each September, the UK Gambling Commission publishes its annual survey of gambling behaviour in Great Britain (not the UK). So September is the month when gambling operators hold their breath and gird themselves for the predictable media onslaught. Last year’s… [continue reading]
Storm warnings abate, but U.S. casino operators still cautious over Macau’s challenges By Howard Stutz, Executive Editor, CDC Gaming Reports • October 2, 2018 The investment community isn’t pushing the panic button on Macau – at least, not yet. Gaming numbers for the market during September came in far below expectations. However, the powerful Typhoon Mangkut that shut down the region’s casinos for 33… [continue reading]
A day of reflection brings tributes, lessons, and a few troubling questions By John L. Smith, CDC Gaming Reports • October 1, 2018 ALEXANDRIA, VA. – On what should long be considered a day of remembrance and reflection in Las Vegas, I found myself far from the Strip, but close to a casino. So I decided to visit MGM Resorts’ sparkling $1.4 billion… [continue reading]
Kentucky must help addicts, not limit sports gambling By Mike Stone, Lexington Herald-Leader • October 1, 2018 I read with interest the Sept.18 commentary by community columnist Carson Benn, “Expanding Ky. sports wagering not a wise bet,” As the debate over expanded gambling continues, some facts need to be emphasized. As Benn alludes to, Kentucky is a… [continue reading]
Pennsylvania gaming expands ‘with all deliberate speed’ By Mark Gruetze, CDC Gaming Reports • September 30, 2018 It’s been only 12 years, but in some respects 2006 seems a lifetime ago: In June 2006, Yahoo offered $1 billion to Mark Zuckerberg, then 22, for Facebook. He turned it down, saying the bid undervalued his company, which was… [continue reading]
The Money Side of Racing By Bernard Kroviak, Special to CDC Gaming Reports • September 28, 2018 Let’s talk about the money side of horse racing. Many of you already know this business fairly well, so what follows will read like Racing: A Beginner’s Guide. For those who don’t, let me outline some of the basics. Race… [continue reading]
Labour Supports Ban on Live Sports Gambling Ads By Luke Haward, CDC Gaming Reports • September 28, 2018 The Labour Party announced last Thursday, as part of its party manifesto, that it plans to remove gambling ads from live sports broadcasts and to require the gambling industry to submit to a mandatory 1% levy, which will be used… [continue reading]
Sports, Media and Gambling Have a Common Cause By Ken Adams, CDC Gaming Reports • September 27, 2018 In May, the United States Supreme Court ruled against a federal law banning sports betting. With that ruling New Jersey, Mississippi, Pennsylvania, Rhode Island and West Virginia rushed to pass enabling legislation. In June, sports betting began in New Jersey… [continue reading]
