MGM Resorts CEO and president Bill Hornbuckle told an audience at the Skift Global Forum travel convention in New York City that MGM’s Dubai sphere would be “not as big as the sphere in Las Vegas by any stretch but equally compelling.”

Size Matters

Even calling the Dubai Sphere “not as big … by any stretch” is a stretch, however.

“It has 300 seats with a mini showroom and the visual things you’d obviously do inside a sphere,” Hornbuckle told the audience gathered at the New York Marriott Marquis.

That’s 60 times smaller than the Las Vegas Sphere. And there are no plans to lift it off its foundation and plummet it back down as an amusement-park thrill ride.

Instead, Hornbuckle said his company’s sphere would feature an experience “that walks through the history of Dubai,” explaining that “in 1985 it was desert and literally 35 years later, it’s this megatropolis with 2 million people.”

Hornbuckle told the Skift attendees that MGM would build its sphere independently, clarifying that it would have nothing to do with the Las Vegas Sphere, or any other Spheres that James Dolan and his Sphere Entertainment had planned to build around the world before the world said “no, thanks.”

However, Hornbuckle added that MGM would be open to taking on a partner at a later date. And, last year, Dolan told Variety that he’d be open to having “smaller Spheres for smaller markets.”

Hmm…

Still No Gaming

After the MGM project was approved by the UAE’S ruler in March 2017, progress slowed considerably. It was not until earlier this year, in fact, that a construction contract was even awarded.

However, Hornbuckle told the crowd that the project is back on track, though he did not provide an opening date and said there are no plans to include the casino that MGM had hoped to build.

Hornbuckle held out hope, though.

“Once you get there and gaming is socially accepted — not for Emiratis by the way — but 80-90% of the [UAE] population are non-Emirati. India is a massive market, the rest of the Middle East could be massive, China will continue to come to Dubai, so we’re excited by what it presents and we hope to be there,” he told the crowd.

The Middle East has long frowned on gambling, which is forbidden under Islamic law. However, competition for tourism from Saudi Arabia and Qatar has softened official attitudes. Last September, the UAE formed the General Commercial Gaming Regulatory Authority to create and oversee a framework for casino gambling.

Hornbuckle told the convention that The Island calls for “several podiums which in fact, [is where] Dubai wants gaming,” in case UAE leaders decide to allow it.

MGM is developing the project with Wasl Hospitality and Leisure, a Dubai-based hotel owner and developer with ties to UAE leaders.

MGM’s history with Dubai goes back to 2007, when a Dubai World subsidiary purchased a 50% stake in CityCenter to help MGM absorb its $8 billion cost. In 2021, MGM said it bought back Infinity World’s half stake for $2.125 billion.

Dubai-Off

Dubai is not a market without competition for MGM.

Wynn Resorts has also broken ground on a $4 billion resort on Al Marjan Island in Ras Al Khaimah, about 30 miles north of Dubai in the Persian Gulf.

It’s scheduled to open in early 2027 and, should gaming come to Dubai, the odds favor it to include the region’s first licensed casino.

Caesars Entertainment opened the non-gaming Caesars Palace Bluewaters Dubai and The Residences at Caesars Palace Bluewaters Dubai in late 2018, in partnership with Dubai Holding. However, the Las Vegas gaming giant got out of the Dubai business when Singapore-based Banyan Tree Hotels replaced it as the properties’ operator in November 2023.

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Officer Keir Roebin David Morey, 28, of San Pedro Town, was charged with theft.

The incident began when a suspect reported $320 worth of casino chips and $15 in cash left at the police station were stolen, according to Channel 5 Belize.

The victim, Kevin Salazar, a 28-year-old bartender from San Pedro Town was arrested on September 10 at San Pedro’s Palm Casino after a search of his person revealed him to be carrying illegal drugs. Salazar was booked at the San Pedro Police Station.

Handed Over Personal Possessions

On September 11, Salazar was charged with possession of controlled drugs. Salazar pleaded guilty to the charge at the San Pedro Magistrate Court and was fined for the offense.

Upon his processing, Salazar had given officers at the police station the casino chips and $15, authorities said. He also handed over a cell phone, a watch, and a silver chain.

When he returned to the police station, the casino chips and cash were missing, according to the TV news report. The other items were returned to him.

A police department employee said Salazar never signed a document for the casino chips or cash, which reportedly included two green chips worth $50 each, as well as 22 red casino chips valued at $10 each.

Investigation After Items Missing

Officers initiated an internal investigation that included reviewing video from a surveillance camera.

Later, a complaint was made against Officer Morey who was officially arrested on Tuesday.

There’s no word on whether Morey was suspended from his job or if the money and casino chips were ever returned to Salazar.

San Pedro is located in the southern portion of Ambergris Caye, an island in northern Belize.

The post Belize Police Officer Allegedly Stole $320 Worth of Casino Chips appeared first on Casino.org.

Amaya will be owned and operated by Gen3 Hospitality, which also owns Haute Doggery and Flour & Barley pizza at the Linq. It will serve a selection of coastal Mexican dishes created by chef Jason McLeod, the culinary director of Clique Hospitality, which is creating the restaurant for Gen3.

According to the Las Vegas Review-Journal, which broke the story, the eatery’s name “pays homage to an inspiring woman the team met in Mexico while tasting for the restaurant.” However, there is already an Amaya Restaurant in Mexico City. It is not known whether the two are related or even know about one another.

Since opening in 2010, the closest Cosmopolitan has come to serving Mexican food is China Poblano by Jose Andres, which fuses it with Chinese.

For more information, follow @amayamexican on Facebook, Instagram, TikTok and X.

Food Network Loves Off-Menu Spago Item

The blog at the Food Network recently included General Tso’s Wings at the new Spago, now fountainside at the Bellagio, among its 14 picks for “The Best Chicken Wings in America.” What’s unusual about the choice is that those wings aren’t on the menu.

“Everyone loves a secret, off-menu dish,” read the blog, which praised the wings, which are tossed in a sweet and spicy garlic sauce after being smothered in cilantro and scallions.

Dining Ins & Outs

It looks like La Popular CDMX wasn’t as popular as its name suggested. The much-ballyhooed Mexican restaurant at the Palms, whose menu was created by executive chef Cesar de la Parra, has closed after just over a year in the space formerly occupied by Bobby Flay’s Shark. It was owned and operated by Grupo Carolo of Mexico City — CDMX are the initials for Ciudad de México — and Eureka Restaurant Group of California.

Marché Bacchus, the popular French restaurant overlooking Lake Jacqueline in Desert Shores, has new owners. Rhonda and Jeff Wyatt. who have owned the eatery since 2007, have sold to HUKL Hospitality. The Wyatts purchased it from Gregoire and Agathe Verge, the couple from Burgundy who founded Marché Bacchus as a wine store in 2000.

Dave’s Hot Chicken will join the offerings at Harry Reid International Airport early next year. Airport concessionaire JV Ventures will run this outpost of the Nashville-style hot chicken, which also has locations at the Grand Bazaar Shops on the Strip, and at 9040 W. Sahara Ave.

The post VEGAS DINING ROUNDUP: Meet Cosmo’s Holstein Replacement, La (Not So) Popular Closes at Palms appeared first on Casino.org.

This week, a US District Court in Las Vegas gave the green light to a civil lawsuit filed by 10 more women accusing the disgraced former comedian and TV star of sexual abuse.

A trial date hasn’t yet been set and it is not yet known what monetary or other damages the lawsuit seeks.

In her ruling, US District Judge Gloria Navarro rejected arguments made by Cosby’s attorney that SB 129 violated both his client’s due process rights and the state’s prohibition on laws only applying to a select group of people (in this case, victims of sexual assault).

Navarro also rejected all 10 claims of sexual assault, since sexual assault isn’t a civil tort under Nevada law. (The other charges were allowed.) And she deferred a decision on whether one of the woman’s claims — that Cosby forced her to masturbate him — could be revived by SB 129. Navarro said she would ask the Nevada Supreme Court to weigh in on that.

Since the new lawsuits are civil, Cosby, now 87, cannot face imprisonment if convicted.

Cos for Concern

A rare comedian who wouldn’t use profanity and who chastised those who did, Cosby served as a beacon for decency and morality in the modern world. In Las Vegas, he frequently headlined the Sahara, Caesars Palace, and the Las Vegas Hilton in the ’60s and ’70s, and more recently, the Mirage, Bellagio, Venetian, Treasure Island, and MGM Grand.

In addition to his standup career, he created, hosted, and voiced the most beloved animated kids TV show of the ’70s, “Fat Albert and the Cosby Kids,” and followed that up by playing “America’s Dad” on the highest-rated sitcom of the ’80s, NBC’s “The Cosby Show.”

All this made it incredibly hard for the world to accept when the allegations of sexual assault first surfaced in 2014, beginning with actress Janice Dickinson, who accused America’s Dad of drugging and raping her in 1982.

Cosby’s legal woes began in December 2015, when three felony charges of aggravated indecent assault were filed against him in Montgomery County, Pa.

His first trial, two years later, deadlocked the jury and was declared a mistrial. His second resulted in a guilty verdict on all three counts. In September 2018, Cosby began serving a sentence of 3-10 years in state prison.

In June 2021, Cosby was freed after the Pennsylvania Supreme Court overruled his conviction, citing an agreement with a previous prosecutor that prevented Cosby from being charged.

Cosby denies all allegations of sex crimes.

The post Las Vegas Judge Allows New Bill Cosby Lawsuit appeared first on Casino.org.

Financial terms of the accord weren’t disclosed. BetMGM’s data and odds will be published across the USA Today network, which includes more than 300 online news sites spanning over 200 markets in 43 states. That’s more than the 38 (and Washington, DC) that currently permit some form of sports wagering.

The agreement incorporates BetMGM sports betting odds into stories and content sharing betting odds, moneylines, spreads and over/unders for games as well as a BetMGM “Bet Now” feature. BetMGM Sportsbook and BetMGM Casino will be listed as a partner on website footers across all USA TODAY Network publications,” according to a statement.

The arrangement with Gannett expands BetMGM’s media footprint. Earlier this year, the gaming company became the official odds provider for the Associated Press and inked a partnership with social media platform X (formerly Twitter).

BetMGM, Gannett Deal Arrives in Time for Football Season

News of the pact between BetMGM and Gannett arrived just after the conclusion of the second week of the 2024 NFL season, indicating the companies have ample time to leverage the new partnership to capitalize on the most-wagered on sport in the US.

It remains to be seen if the Gannett deal is additive to BetMGM’s market share, but there’s optimism the agreement will bear fruit for both companies.

“We believe BetMGM complements our existing portfolio of partners and will enable us to drive further audience growth and engagement,” said Gannett CEO Michael Reed in the press release. “We anticipate this collaboration will immediately lead to an increase in the overall monetization of our content platform.”

Football Betting Could Top Expectations

Before the start of the season, the American Gaming Association (AGA) estimated US bettors would wager $35 billion on the NFL this year with regulated sportsbook operators. Just two weeks into the campaign, that forecast was already upped by one analyst.

“Based on our proprietary hold model, we calculate NFL market hold of 16% for the week of Sept 9–15, above our long-term average of 9%. We estimate total sports betting market hold of 12% for the week of Sept 9–15, assuming NFL hold of 16% and 9% hold for other sports,” observed Beynon. “New York reported sports betting hold of 7% for the week of Sept 2-8, below the long-term average of 9% and directionally in line with our estimate of 8%. Handle grew 14% YoY vs the same week last year.”

The post BetMGM, Gannett Unveil Long-Term Partnership appeared first on Casino.org.

The 2013 gaming bill created four upstate and three downstate licenses for slot machines and live dealer table games. Sports betting has since been included in the gaming privileges.

The casino package came with a 10-year moratorium on the downstate licenses being issued. The delay was designed to give the upstate properties time to solidify their customer bases without downstate competition.

The three downstate licenses are coveted opportunities, with the largest casino operators prepping bids. The resort developments, each with an upfront $500 million licensing fee, are expected to provide the state with critical tax revenue amid a shrinking taxpayer base and a desperate need to provide funding for major public transportation infrastructure upgrades.

Governor Dragging Process

State Sen. Joe Addabbo (D-Queens), who chairs his chamber’s Racing, Gaming, and Wagering Committee, sponsored legislation earlier this year to speed up the downstate casino licensing process. The measure, which he championed with Assemblyman Gary Pretlow (D-Mount Vernon), sought to require that bids be submitted to the New York Gaming Facility Location Board by August 31 — far sooner than the board’s current deadline of June 27, 2025.

Addabbo told Spectrum News this week that he remains hopeful that Hochul will change her mind and realize that speeding up the process is in the state’s best interest. Along with generating an immediate influx of $1.5 billion for the state, critical money that could come in the aftermath of Hochul folding on the “congestion toll” that would have jacked up tolls into Manhattan, Addabbo says the casinos will create thousands of jobs.

These are great union jobs. We’re talking about each site having at least a thousand construction jobs. Post-construction, each of them [will have] 2,500,” Addabbo said.

Eleven bids remain for the three licenses. Though nothing is set in stone, it’s widely believed that two licenses are already spoken for with MGM Resorts’ Empire City Casino in Yonkers and Genting’s Resorts World New York City in Queens. Those racinos currently offer slot-like video lottery terminals and electronic table games.

Current Timeline

Unless Hochul reverses course to get on Addabbo and Pretlow’s timeline for the downstate casinos, the Gaming Facility Location Board expects to render its winners by Dec. 1, 2025.

Hard Rock is partnered with billionaire Steve Cohen on a proposal for an integrated resort at the New York Mets’ Citi Field in Queens. Mohegan is developing a scheme on the East Side near the United Nations Headquarters. Bally’s is pitching a casino at its golf course in the Bronx and a consortium led by the Chickasaw Nation has developed a bid for Coney Island.

The post New York Gov. Kathy Hochul Remains Uninterested in Expediting Casinos appeared first on Casino.org.

That’s the take of CBRE Credit Research Colin Mansfield and Connor Parks who in a new note to clients said the gaming company bolstered its financial flexibility with the recent sale of $850 million of corporate debt. Some proceeds from that transaction will go toward eliminating the operator’s 2025 maturities, meaning it now has no debt coming due before 2026.

The issuance clears out the 2025 maturities at MGM’s domestic box, with the next maturity being the $400 million due in late-2026,” according to the analysts. “Lease-adjusted consolidated leverage at MGM remains low at 4.3 times pro-forma for the issuance.”

The CBRE duo noted that MGM has the resources to work on multiple large-scale projects, including MGM Osaka in Japan, and potentially, converting Empire City Casino in Yonkers, NY to a traditional casino while also possibly pursuing gaming licenses in Thailand and the United Arab Emirates (UAE).

MGM Has Big Ambitions

Each of the projects mentioned above would likely be a multibillion-dollar venture. MGM has a 42.5% stake in the Osaka integrated resort scheme, which carries a price tag of $8 billion, and it could take several billion more to transition Empire City into a Las Vegas-style gaming venue if the operator wins one of the three downstate casino permits New York regulators could award next year.

“Each development would require multibillion-dollar investments and sizeable equity checks, though MGM can fund these via FCF (free cash flow) depending on their ultimate timing,” observed the CBRE analysts.

The analysts added that MGM “has balance sheet flexibility” should it need to issue more debt to deal with the possibility of overlapping timelines on various projects. The gaming company added $175 million to its already sizable cash-on-hand position via the aforementioned bond sale.

Where Dubai Fits in for MGM

MGM executives have consistently said the company would be interested in bidding for a gaming license in the UAE if that opportunity presents itself. Its MGM-branded hotel in Dubai is currently structured as a nongaming venue, but CEO Bill Hornbuckle told analysts and investors earlier this year that the operator said aside space for a casino, indicating it could quickly pivot if need be.

The operator has 150,000 square feet to work with at the Dubai property when it comes to adding a casino, but the company hasn’t commented on the cost of such an addition.

The post MGM Has Capital to Execute Big Projects, Analysts Say appeared first on Casino.org.

On a recent episode of the “Full Send” podcast, the UFC boss estimated that between January and March, he won $26 million to $27 million playing baccarat at Caesars Palace on the Las Vegas Strip.

Caesars Palace … I clipped these guys for $1 million a night from, like, the first week of January all the way into March,” said White. “I beat these guys for like $26 million, $27 million.”

He added “Caesars is gangster” and is the place to play for high-level gamblers.

Caesars allows White to play $350K per hand — a limit extended to him and a small amount of other well-heeled clients. At that level, winning $1 million or more in a night is plausible. It’s also feasible that a bettor could lose substantial sums, and White acknowledged there are nights when a bettor can get “wrecked” betting well into six figures per hand.

White is a Longtime Caesars Fan

White’s methodology, which he reiterated on the “Full Send” podcast, is possibly irksome to some casino operators. If he wins three hands in a row, he takes his winnings and leaves.

That makes for a $1 million+ night for him and a loss of the same amount for the casino that he “victimized.” As a result, many Las Vegas casinos refuse to take White’s action, which is why he’s long been devoted to Caesars and MGM Resorts International’s Bellagio. On the podcast, he said Caesars will allow him to bet $350K per hand while Bellagio will go as high as $400K.

Off the Strip, White is known to frequent Red Rock Resort in Summerlin, though he told “Full Send” he plays there at much lower limits because he’s that venue’s only client with the ability to play deep six figures per hand. Red Rock Resorts (NASDAQ: RRR) is controlled by Frank and Lorenzo Fertitta, who were early UFC Investors.

White Still Wants to Play $1 Million a Hand

Despite the fact that his biggest losing night was $8 million, White reiterated his longstanding goal of eventually betting $1 million per hand.

“That’s my goal. That’s my goal in life before I die,” said White on the podcast.

He said under that dream scenario, he’d want a casino to extend to him $30 million in credit so he can play $1 million a hand, but he acknowledged no gaming venue anywhere in the world is likely to indulge him.

The post Dana White ‘Clipped’ Caesars for $26M-$27M on Baccarat Earlier this Year appeared first on Casino.org.

Still, UFC spent $20 million to produce the show at the $2.3 billion venue, so its real profit will need to come from pay-per-view sales.

Though UFC CEO Dana White vowed never to return to the Sphere, he softened his stance on Saturday. He still told the assembled media “no,” but said it was because “I’m under contract with MGM.”

In 2017, the UFC signed a seven-year agreement with T-Mobile Arena, which is co-owned by MGM Resorts, to host at least four annual events at the venue, which is where White had hoped to stage UFC 306. The Vegas orb only became an option after MGM Resorts signed a deal, a year out, with boxing promoter Al Hyman to bring Canelo álvarez v. Edgar Berlanga to T-Mobile last weekend.

UFC 306, branded as Riyadh Season Noche UFC for falling on Mexican Independence Day Weekend, featured a bantamweight title matchup in which challenger Merab Dvalishvili destroyed defending champion Sean O’Malley, and a women’s flyweight bout in which former champion Valentina Shevchenko reclaimed her title from Alex Grasso, who snatched it from her last March.

The event sold out of the 16,024 tickets made available. However, hundreds of tickets remained available within hours of showtime on the resale market, with most going for steep discounts from their face values of $2,500 to $23,437.50.

Speaking on Saturday, White seemed more focused on UFC 306’s successes than its pitfalls.

“This thing, I told you guys leading up to this, the way that this whole thing played out, tonight was meant to happen,” he enthused at the post-event press conference. “It happened. We did it. We killed it.”

The post UFC 306’s Gate Receipts Break Sphere, UFC Records appeared first on Casino.org.

Citing two unidentified sources close to the matter, CFTN reported Monday that the Hart-Scott-Rodino (HSR) Act guidelines pertaining to the deal will expire Monday night, with no need for Standard General to file a second request with federal regulators.

Under the Hart-Scott-Rodino (HSR) Act, parties to certain large mergers and acquisitions must file premerger notification and wait for government review. The parties may not close their deal until the waiting period outlined in the HSR Act has passed, or the government has granted early termination of the waiting period,” according to the Federal Trade Commission (FTC).

Standard General — the hedge fund that’s the largest investor in Bally’s — floated a $15 per share takeover offer in March. That was upped to $18.25 a share, which the regional casino operator accepted in July.

Standard General Bally’s Buy Not Big Enough to Draw FTC Concern

The proposed deal assigns an enterprise value of $4.6 billion to Bally’s and while that isn’t a small amount of money, it’s not the price point at which the FTC would consider making the buyer make adjustments to the initial deal structure.

For example, the FTC sued to block the $24.6 billion merger of Albertsons and Kroger — the largest deal on record in the grocery store industry — because it’s anticompetitive. Some states have taken up that mantle, too, and have launched their own antitrust investigations into the merger.

Some Democrat donors have reportedly encouraged Vice President Kamala Harris to fire Khan should the former win the presidential election in November. The Harris campaign hasn’t publicly said if such a move is on the table.

Next Steps for Standard General

With federal antitrust concerns apparently not an issue, the next step for Standard General is dealing with regulators in the states in which Bally’s operates land-based casinos. Those are Colorado, Delaware, Illinois, Indiana, Louisiana, Mississippi, Nevada, New Jersey, and the gaming company’s home state of Rhode Island.

Standard General is aiming to have the Bally’s acquisition wrapped up in the first half of 2025.

The post Standard General Bally’s Acquisition Unlikely to Face Antitrust Threats appeared first on Casino.org.

“It’s with heavy hearts that we announce that our beloved father, Rock & Roll Hall of Famer Tito Jackson is no longer with us,” his sons TJ, Taj, and Taryll wrote in an Instagram statement posted late Sunday. “We are shocked, saddened and heartbroken. Our father was an incredible man who cared about everyone and their well-being.”

No cause of death has been announced yet.

Tito — born Toriano Adaryll Jackson on Oct. 15, 1953 — was the third of nine Jackson siblings born to Indiana natives Joe and Katherine Jackson. Two of those siblings, Michael and Janet, became global pop superstars.

Tito has been famous since age 16, when the group his father assembled — also featuring Jackie, 18, Jermaine, 15, Marlon, 12, and Michael, 11 — became the first in history to debut four consecutive No. 1 hits in the Billboard Hot 100 chart: “I Want You Back,” “ABC,” “The Love You Save” and “I’ll Be There.”

Enjoying Themselves

The Jackson 5 were Vegas mainstays, performing a 1974 residency (before they were called that) at the original MGM Grand Hotel (today’s Horseshoe) from April 9–24, August 20-September 3, and November 20-December 3 that was extended to include April 1-18, 1975.

They still went by the Jackson 5 during these performances, even though they had already added a sixth member, youngest brother Randy.

By 1976, they had become the Jacksons. The decision was forced since they had switched record labels from Motown, which owned the name Jackson 5, to Epic.

As a background singer who played guitar in a group not known for guitar, Tito was the least prominent group member. This, combined with his memorably distinctive name, made him the frequent butt of jokes. Most comedians performing Michael Jackson impressions in the 1980s relied on the crutch of calling out Tito’s name in Michael’s high-pitched voice.

After Michael Jackson died at age 50 in 2009, Tito told the Associated Press that his younger brother’s death brought the family closer.

“To recognize that the love we have for each other when one of us is not here, what a great loss,” he said, adding that he would personally never “be at peace with it.”

On September 9, Tito performed with Marlon and Jackie in Munich, Germany. Afterward, they visited a memorial to Michael.

“We’re deeply grateful for this special place that honors not only his memory but also our shared legacy,” Tito wrote on his Facebook fan page. “Thank you for keeping his spirit alive.”

Janet Jackson’s upcoming residency at Resorts World, which begins December 30, is now expected to include tributes to both her late brothers.

The post Tito Jackson, Co-Founder of Vegas Icons the Jackson 5, Dies at 70 appeared first on Casino.org.

NSX operates the Betnacional brand. Including Betnacional, NSX is the fourth-largest iGaming and online sportsbook company in Brazil. Importantly to Flutter, the target is already profitable. Flutter said NSX is expected to generate 2024 revenue of $256 million on adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $34 million.

The $350 million transaction, which was announced last Friday, is scheduled to close by the second quarter of 2025.

NSX Buy Could Be Smart Move by Flutter

Flutter taking a stake in NSX could prove to be a prescient move because Brazil is slated to fully regulate its iGaming and online sports betting markets at some point next year.

That’s expected to open the floodgates for international operators to bid for licenses in the country. Flutter has an advantage because it’s already established in Brazil, but partnering with a local company like NSX could be viewed favorably by regulators and it’s a move some rivals have signaled they’ll employ as well.

“Strong demand for sports betting and iGaming products with compound annual gross gaming revenue (GGR) growth in the unregulated market of 38% since 2018, to almost $3 billion in 2023,” according to a statement issued by Flutter.

Brazil’s Booming Gaming Market

In the eyes of many US investors, Flutter is viewed as the parent of FanDuel — the largest online sportsbook operator in this country – and while that’s accurate, the company has a massive international footprint that includes exposure to Australia, Europe, and Latin America.

“Flutter Brazil will be exceptionally well positioned to take full advantage of the significant growth opportunity in the newly regulating Brazilian market,” concluded Flutter in the statement. “In line with our successful strategy in other newly regulated markets such as the US, we expect to drive market share growth and embed future profitability through disciplined customer investment. This is expected to result in a Flutter Brazil adjusted EBITDA loss of approximately $90 million to $100 million in 2025.”

The post Flutter Pays $350M for Majority Stake in Brazil’s NSX Group appeared first on Casino.org.

Ellamar made a huge name for himself by opening Harvest by Roy Ellamar at the Bellagio in 2015. Then he made heads scratch six years later by departing the restaurant, which continued operating without him or his name.

Similar unanswered questions remain after the celebrated culinary maestro founded Fine Company at Downtown Summerlin and ditched that eight months later.

Parrot-headed Back to Vegas?

A billboard depicted in a rendering of a mixed-use development proposed for the former Riviera site has parrot heads chirping because it includes a billboard for a new Las Vegas Margaritavlle, in addition to a thrill ride with coconut-shell swings.

This is probably wishful thinking since the whole project itself seems to be. But, as Vital Vegas points out, the late singer Jimmy Buffett’s eatery has suggested that the brand would return to Sin City.

Dining Ins & Outs

The Avenue Café, a brunch spot at MGM Grand, will close permanently after business on November 17. MGM says its replacement will open in February 2025, though it’s keeping mum on just what that will be.

Sugarcane Raw Bar Grill is now reopened at the Venetian, following a remodel that closed it in June.

Bank Atcharawan, the sommelier, chef, and restaurateur who brought?Las Vegas?restaurants including Chada Thai & Wine?and?Lamaii, will open a Thai fusion restaurant called Jipata at 3460 Arville St. this fall, according to What Now Vegas.

Andy Zhoa and Maya Kwong, the restaurateurs behind Las Vegas Chinatown’s Xiao Long Dumplings, plan to open a second location at 6945 S. Buffalo Drive, according to building permit paperwork.

Downtown’s Good Pie pizzeria will open a second location on October 14 at 835 Seven Hills Drive in Henderson, in the same storefront previously housing Angelina’s Pizza.

Crab N Spice is adding a third Las Vegas location for its All-You-Can-Eat Seafood Boil, including king crab for $32. It will debut in Chinatown, at 3455 Arville St., this fall.

The post VEGAS DINING ROUNDUP: Big Chef Leaving Las Vegas, Wasting Away Again?, MGM Closes Café appeared first on Casino.org.

The robberies of casino cages at both Resorts World Las Vegas and the Gold Coast Casino have brought back a favorite topic of Las Vegas speculation. Is it possible to successfully rob a casino vault, as depicted in the 2001 movie “Ocean’s 11?”

“I don’t even know where to even begin with that,” said Fred Del Marva, an Arizona-based casino security consultant and expert. Over the past 36 years, his clients have included Caesars Palace, The Mirage, and the Golden Nugget.

First of all, according to Del Marva, a criminal would need to know exactly where a vault is. That’s a tall order because every casino keeps theirs in a different, top-secret location. “Somebody has to have the blueprints on how to get in and out,” he said. “Or a very inside source, like the contractor.”

There are, of course, gadgets designed to override a vault’s security measures, Del Marva said. “But there are likely to be too many security systems that require overriding to make robbing a vault achievable.”

An Ocean of Wrong

“Ocean’s 11” got a lot of basic information wrong. For one thing, every casino needs to have $100-$150 million in its vault at any given time, Del Marva estimated, to cover potential big losses on the floor. However, the $150 million in the movie was split among three casinos, leading to another inaccuracy.

“Listen, tomorrow, the newspaper could say that I’m wrong, that a casino vault was robbed, but I don’t think so,” Del Marva said, reasoning that, “if it could happen, someone would have at least tried it already.”

Welcome to Our Valued Robbers!

Both the Resorts World and Gold Coast robberies happened, Del Marva said, because today’s casino personnel are trained not to resist demands made by criminals. Ensuring that a gun is never fired inside a casino is a much higher priority than preventing a robbery, and criminals know that.

The deterrent is no longer the threat of armed response, Del Marva said, but the knowledge that everything that happens inside a casino is videoed from dozens of angles and that every skin cell that falls onto every surface will be analyzed for DNA evidence.

They know that nobody is going to be there to deter them from the time they park their vehicle to the time they get the cage,” Del Marva said. “Whether they get caught afterward is a different story.”

And they usually do. For the 11 post-“Ocean’s 11” robberies we identified below, suspects were arrested in nine of the cases. And none involved vaults.

11 Post-‘Ocean’s 11’ Vegas Casino Heists

Post-“Ocean’s 11,” here are 11 Las Vegas casino robberies we know about. We didn’t include Resorts World or Gold Coast since they just happened. Las Vegas police have already arrested a suspect in the former crime.

2022: El Cortez (unsolved)

On September 6, a man belly-flopped onto a craps table at the El Cortez casino and grabbed more than $19K of chips from the dealer. The thief, who appeared to be unarmed, exited the casino and is still at large.

2021: Rio, Red Rock, Aliante (solved)

On February 27, a Las Vegas Metropolitan Police Department officer was arrested in connection with $78,898 stolen during a robbery at the Rio. Caleb Mitchell Rogers was also charged with a Nov. 12, 2021, robbery at the Red Red Resort and a January 6 robbery at Aliante. Rogers was connected to the robberies due to his unique gait. Suffice it to say he no longer works for the police department.

2019 and 2017: Bellagio (solved)

A man who robbed the Bellagio’s poker cage in 2017 and got away with it was shot dead when his second attempt proved far less successful. Michael Charles Cohen, 49, initially made off with $35K on March 15, 2019, but was shot dead by police who opened fire after he refused to surrender. The police were on hand investigating an unrelated case.

2017: Bellagio (solved)

Four thieves wearing animal masks used a sledgehammer to knock out a jewelry store’s glass door and rob handfuls of rings, chains, and other valuables. Sebastian Gonzales was arrested for the crime.

2014: Bellagio (solved)

Michael Belton attempted to rob the Bellagio by swiping casino chips off tables. Police said Belton and another man wore wigs and sunglasses, sprayed a blackjack dealer with pepper spray, grabbed $115K worth of chips, and tried to run. Belton was convicted while his accomplice got away.

2010: Bellagio and Suncoast (solved)

Tony Carleo parked his Suzuki motorcycle near the Bellagio valet stand on Dec. 14, 2010, walked over to a craps table, and robbed $1.5 million in chips at gunpoint. The “Biker Bandit” is currently serving 9-27 years in a Nevada state prison for that robbery and for robbing $18,945 in cash from a Suncoast cashier’s cage on December 9 of that same year

2005: Mandalay Bay (unsolved)

On March 11, 2005, two masked men held up a cashier’s cage at Mandalay Bay. According to witnesses, the men fired warning shots into the ceiling and forced the workers to the ground. The robbers, who stole what remains to this day an undisclosed amount of money, made off in a car parked outside.

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Cassandra Tovar, 31, was stopped by a Las Vegas Metropolitan Police Department (LVMPD) officer last Friday after driving a car on the Las Vegas Strip without a license plate. She appeared to be intoxicated, police said.

When the officer routinely ran her name through a computer system, the cop soon realized she had a pending warrant for a far more serious crime. She was wanted for her role in allegedly stealing $200K worth of items from two men staying at the luxury hotel after three women allegedly drugged them.

The theft dates back to April 23, 2023. That night, Tovar and the other women allegedly met two men at a hotel bar before they went upstairs to a hotel room.

Once inside, one of the women reportedly offered one of the men sex. The price was $1K “each.” One man responded that he refused to pay for sex but didn’t tell the women to leave.

“They continued to converse outside on the balcony and [one woman] brought him a drink in a shot glass. They encouraged [the victim] to drink it,” according to a police report quoted by Las Vegas TV station KLAS.

After [he] drank it, … he passed [out] and did not remember anything else.”

Hours later, the men woke up and three women were gone along with the men’s expensive watches, diamond bracelets, and fancy clothes.

Men Drugged

The men alerted the LVMPD. Officers arrived at the hotel and arranged for a lab test, which revealed the suspicious drink included “various controlled substances,” according to a police report.

Officers then checked hotel surveillance cameras where video footage showed a car that turned out to be owned by one of the three suspects who was later located by police. When speaking to officers, she confessed to stealing the items and drinking with the two men, according to the LVMPD.

A search of the woman’s residence revealed luxury watches, diamond bracelets, and clothes all taken from the hotel room, police said.

Officers also were able to identify Tovar as a second suspect, though they couldn’t locate her until the September 6 traffic stop.

Remains in Jail

After her arrest, Tovar was booked at the Clark County Detention Center where she currently remains with bail set at $20K.

She recently appeared before Las Vegas Justice Court Judge Daniel Westmeyer who ordered her to show up for a court hearing in November.

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The Laughlin, Nev, resort began informing state attorneys general and impacted consumers on September 5 that it had detected a data breach. Security personnel with the casino believe the hack occurred on July 24, 2024.

The unauthorized party allegedly gained access to customers’ sensitive information, including names and Social Security numbers.

Upon discovery, Riverside immediately engaged forensic specialists in cybersecurity and data privacy to investigate further. Through this investigation, Riverside determined that an unauthorized third party potentially accessed and acquired certain files during this incident,” Riverside Assistant General Manager Matthew Laughlin wrote in a notification letter sent to impacted customers.

“Data security is one of our highest priorities. Upon detecting this incident, we moved quickly to initiate an investigation,” Laughlin continued. “We promptly disabled all relevant accounts and worked with our third-party specialists to confirm the security of our environment.”

No Misconduct, Yet?

Laughlin, one of the late Don Laughlin’s adult grandchildren, said the resort hasn’t fielded any reports of the sensitive information stolen being used for illicit purposes. But, those who received the notification letter are encouraged to monitor their credit reports and scores for suspicious activity, and to inform their banks and financial institutions about their personal information being compromised.

The data breach includes residents from Nevada, Arizona, and California. Riverside sits along the Colorado River, which separates Nevada and Arizona. Laughlin is also just 10 miles northeast of the California border.

The hack’s repercussions extend to the East Coast where Riverside patrons residing as far away as Massachusetts, New Hampshire, and Vermont also received the data breach notification. Riverside is offering anyone impacted free credit monitoring services.

Riverside didn’t disclose whether a ransom was demanded and/or paid. MGM refused to pay one, which led to operational losses upward of $100 million. Caesars opted to pay a $15 million ransom to have its IT systems restored.

Riverside Story

Don Laughlin bought Nevada’s southern tip — then called South Pointe — in 1954 and built and opened Riverside in 1966. The original “resort” offered just eight motel rooms, half of which were occupied by Laughlin’s family, 12 slot machines, two table games, and an all-you-can-eat chicken dinner for 98 cents.

The Laughlin family continues to own Riverside. Don Laughlin died last October at the age of 92.

Laughlin wanted to name the remote Nevada town Riverside but the US Postal Service opted for Laughlin instead. Today, the town is home to several other casinos, including Harrah’s, Laughlin River Lodge, Golden Nugget, Edgewater, and Tropicana.

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The first energy from the Escape Solar + Storage project is expected to help power MGM’s needs by 2026.

According to an MGM press release, the Lincoln County facility — which will be operated by Estuary Power of Reno — will generate enough electricity to power more than 28,000 average homes.

MGM said it already uses 90% renewable energy for 11 of its Las Vegas resorts’ daytime needs, and that the boost from this new farm will fill in the 10% gap as well as allow it to store some of the energy needed for nighttime use.

Most casino resorts — we’re looking at you, Luxor – use more electricity at night due to the increased loads commanded by exterior lights, shows and in-room air conditioning.

“This agreement is the next step toward the achievement of our climate goals,” said Bill Hornbuckle, MGM’s CEO and president, in a statement. “As we continue the journey toward greater sustainability, we remain dedicated to finding new ways to reduce our carbon footprint, conserve resources and inspire others to join in building a more sustainable world for generations to come.”

In 2023, MGM said, it achieved two of its previously stated carbon emissions goals by reducing emissions per square foot by 45% by 2025, and reducing emissions per square foot by 50% by 2030. This has been achieved since 2016 via renewable Las Vegas energy projects including:

• its 323,000-panel Mega Solar Array, which provides 100 MW to MGM Resorts’ 11 Las Vegas locations,
• the 26,000 solar panels atop the Mandalay Bay Convention Center, which provide 8.3MW to that property, and
• a 100-kW rooftop solar array that helps power T-Mobile Arena.

According to MGM, the new agreement “will help propel the company closer to its goal of procuring 100% renewable electricity in North America by 2030.”

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Erendira Dominguez and Allison Lopez deny they stole the money and filed the legal action in Las Vegas federal court on Monday.

In the lawsuit, the pair claim they were discriminated against due to their gender and Hispanic heritage. They also allege they suffered “mental anguish, emotional distress, pain and suffering, humiliation, [and] harm to reputation,” because of the actions by their employer.

Baseless Speculation

The two started working at the Aria in 2009. On Aug. 30, 2023, both were suspended from their jobs before being fired in December 2023. Dominguez was a coordinator and Lopez was a manager in Aria’s marketing department.

Between 2021 and 2023 their jobs had them book hotel rooms for Las Vegas Golf Adventures, which provides golf packages for guests staying at the hotel, the Las Vegas Review-Journal reported.

In 2023, a new vice president of national marketing at the Aria claimed that Lopez had been booking rooms for her personal use. It was estimated that “millions of dollars” was unaccounted for, the report revealed.

The lawsuit filed by Lopez and Dominguez calls the claims baseless speculation, the Review-Journal reported. The pair contend they didn’t have access to the relevant company account and were unable to withdraw money or transfer funds from that account.

In their lawsuit, both Lopez and Dominguez are seeking compensatory and punitive damages, as well as lost wages. Beyond that, they claim the false allegations have hurt their reputations and they are now “blacklisted” from getting another job in the casino sector.

Adverse Treatment

In their jobs, the two women reported to senior executives at the Aria. The senior executives were men, none of whom were suspended, according to the lawsuit.

Only the Hispanic female plaintiffs had to endure that adverse treatment,” the lawsuit stated.

One male executive eventually was reassigned to an MGM Resorts property in Ohio, the report revealed. A second male executive quit his job and was given severance pay.

A trial date for the lawsuit has yet to be set. The two women have asked for a jury to hear the case.

Casino.org reached out to MGM Resorts for a statement on the lawsuit. A company spokesperson said MGM had no comment.

The post Two Former Aria Resort Workers Sue MGM After Millions of Dollars Disappear — Report appeared first on Casino.org.

Tickets for UFC 306 sported the highest face value of any event ever staged in Las Vegas. They started at $2,500 for seats in the rafters and topped off at $23,437.50 for floor seats to the right of the Octagon.

As of Wednesday evening, only a few hundred of those face-value seats remained on Ticketmaster out of an original allotment of 18,500.

On Ticketmaster, verified resellers (scalpers, basically) are losing their shirts on full public display. Right behind two of the original $23K seats (FLR3, Row 3, Seats 3-4) are five reseller seats on offer for $5,500 each (FLR3, Row 5, Seats 5-12).

If these seats are still available hours before the event, their prices must be lowered much further if they are to sell at all. That includes the hundreds still listed at face value on Ticketmaster unless UFC gives them away to VIPs, which is likely.

Why So Much?

Branded as Riyadh Season Noche UFC, for Mexican Independence Day two days later, the 10-bout spectacle promises an excellent lineup headlined by bantamweight champion Sean O’Malley defending his title against No. 1 contender Merab Dvalishvili.

But not $2,500-$23K-a-ticket excellent.

According to Billboard magazine, Dana White felt obligated to charge that much to pay for the show’s $8 million production costs — specifically, producing video content for the Sphere’s massive hi-def screen.

Think about U2,” White told SNY Sports on September 10, referring to the Irish rock band’s Sphere residency last year. “Whatever that cost them, they had 40 nights to amortize those costs. We just have one.”

Now, however, Billboard claims that White’s production costs have ballooned to $20 million, even after UFC partnered with outside producers, including Valerie Bush and Antigravity Academy, who will screen their own 90-second videos between bouts.

Of course, UFC will recoup some of its financial losses via pay-per-view sales, but, as White told MMA reporter John Morgan recently, “We’re not ever doing an event at the Sphere again.”

White Lies

Last October, White told ESPN’s Pat McAfee that “I have become obsessed with the Sphere,” adding that he had his entire production crew check out U2’s residency to conceive of ideas for visuals to envelop the Octagon.

“I’m telling you right now, this place is incredible,” White said.

If the new Billboard story is to be believed, however, White wasn’t being entirely truthful.

That’s the arena that hosted last year’s “Noche UFC,” whose tickets were priced starting at $120 each.

The post Why UFC Vows Never to Return to Vegas Sphere appeared first on Casino.org.

GambetDC was previously the lone mobile sports wagering application in the US capital city. However, due to a spate of controversies and disappointing performance, Intralot outsourced the operation of its app to Flutter Entertainment’s FanDuel, which took control in April. FanDuel paid a $5 million conversion fee to the Office of Lottery and Gaming (OLG) to take over for Intralot.

That set the stage for FanDuel to explore terminating its contract with the OLG, and for the likes of Caesars Sportsbook and BetMGM to offer mobile sports wagering in the city. As a result of that expansion, Caesars was able to land the kiosk business.

Caesars Familiar to DC Bettors

While Caesars doesn’t operate a land-based casino in Washington, DC, bettors are familiar with the gaming company and its brand. Before offering mobile sports wagering there in July, the company opened a retail sportsbook at Capital One Arena in 2021 – the first sportsbook in a US professional sports team’s home court or stadium.

Our self-service betting kiosks are an excellent addition to our sports wagering options in DC,” said Caesars Digital President Eric Hession in a statement. “Whether sports fans prefer a traditional ticket-in-hand wagering experience or want to simply deposit cash for their mobile app account, our kiosks enhance the premier sports betting experience we offer through the combination of options and convenience that supports dozens of small businesses locally.”

In addition to being able to use the kiosks to place wagers, bettors can also use the machine to add funds to their Caesars Sportsbook mobile accounts. Bets placed via kiosks are also eligible for rewards credits in the Caesars Rewards program.

The kiosks are located throughout the city and are found in bars, taverns, restaurants, and at official lottery retailers.

Caesars Branding Could Help Allay Kiosk Concerns

When the city opted to expand its mobile sports betting market, retailers that are home to the kiosks expressed concern that the move would diminish the appeal of the devices, thus pinching an important revenue stream.

In its press release, Caesars didn’t touch on that issue, but it’s possible the gaming company’s well-known brand and iconic logo will entice bettors to continue using the kiosks.

Financial terms of the gaming company’s deal with the OLG weren’t disclosed.

The post Caesars Takes Control of Washington, DC Sports Betting Kiosks appeared first on Casino.org.

Recent media reports suggest that new Prime Minister Paetongtarn Shinawatra is poised to bring a casino policy statement to parliament as soon as this week, and that the package is likely to include a directive calling for as many as seven gaming venues to commence Thailand’s foray into regulated gaming.

Should related speculation about the creation of seven integrated resorts, including three in Bangkok prove accurate, those numbers would top previous scuttlebutt. Earlier this year, there was chatter that should Thai policymakers approve casino gaming — an increasingly likely prospect — the country would start with five casino hotels. That plan called for two gaming venues in Bangkok, and one each in the Eastern Economic Corridor, Chiang Mai, and Phuket.

Bangkok Could Be an Alluring Casino Center

An article published by The Nation on Monday featured comments from Deputy Secretary-General to Prime Minister Suksit Srichomkwan indicating that the casino legislation under consideration by the Thai cabinet provides for three integrated resorts in Bangkok.

Assuming long-term return on investment in the high teens or low 20s in percentage terms – a common goal in the gaming industry – a $3 billion licensing fee would likely be palatable to numerous gaming companies, including US-based firms Las Vegas Sands, MGM Resorts International, and Wynn Resorts. All three have expressed some interest in Thailand.

The aforementioned legislative package also includes stipulations that casinos command no more than 10% of an integrated resort’s square footage and that gaming venues outside of Bangkok will carry an initial licensing fee of $1.5 billion.

Bangkok Casinos Matter for Other Reasons

The Thai government’s commitment to allowing casino resorts in Bangkok is important for other reasons. First, it’s the most populous city in the country, thus making it desirable for operators.

Speaking of Japan, Thai lawmakers backing the country’s casino ambitions are hoping to speed up the legislative process so that their nation’s first gaming venues open before MGM Osaka does in 2030.

The post Thai Government Eyes Bangkok for Three Casinos appeared first on Casino.org.

The newly issued senior notes mature in 2033 with an interest rate of 6.25% and are “guaranteed by all of Wynn Resorts Finance’s domestic subsidiaries” except Wynn Resorts Capital.

Wynn Las Vegas, LLC will use the amounts to (i) redeem in full Wynn Las Vegas and Wynn Las Vegas Capital Corp.’s 5.500% Senior Notes due 2025 (the “2025 LV Notes”) and (ii) pay fees and expenses related to the redemption and (b) use the remainder of the net proceeds for general corporate purposes, which may include covering all or a portion of the $130 million forfeiture under the non-prosecution agreement described in our Current Report on Form 8-K filed with the Securities and Exchange Commission on September 6, 2024,” according to a statement issued by the gaming company.

Last Friday, Wynn disclosed to investors that it reached a $130.13 million settlement with the Justice Department — the largest-ever penalty applied to a single domestic casino — “based on admissions of criminal wrongdoing,” according to DOJ.

Wynn Bond Sale Implies Swift Payment of DOJ Penalty

While the gaming company didn’t comment on exactly when it will pay the $130.13 million it owes to the government, noting that some proceeds from the bond sale could be used for that purpose implies the casino operator could swiftly deal with that obligation.

In one example highlighted by the DOJ, Wynn Las Vegas permitted a Chinese patron who “had spent six years in prison in China for conducting unauthorized international monetary transactions and violations of other financial laws” to wager at the property.

As part of a nonprosecution agreement (NPA) with the government, Wynn Las Vegas acknowledged wrongdoing and noted that it has extensive measures to bolster its anti-money laundering protocols while telling the government that staffers involved in the questionable transactions are no longer employed by the company.

Wynn Bond Sale Serves Another Purpose

While the Wynn bond sale serves the aim of potentially quickly moving the DOJ liability off its books, the transaction is important because it also allows the operator to redeem bonds coming due next year.

In separate though related news, gaming device and lottery giant International Game Technology (NYSE: IGT) said Tuesday that it’s selling a new euro-denominated bond issue to redeem nearly $500 million in senior secured notes maturing in 2025.

The post Wynn Selling $800M in Debt to Pay DOJ Fine, Redeem 2025 Bonds appeared first on Casino.org.

Well-heeled donors to the Harris campaign have recently increased pressure on Harris to sack Kahn and Securities and Exchange Commission (SEC) Chairman Gary Gensler should she win the White House.

Earlier this year, the FTC announced an investigation into MGM Resorts International’s (NYSE: MGM) response to the September 2023 cyberattack that temporarily crippled the casino company’s domestic operations.

Kahn hasn’t signaled that she’s considering recusal, and the legal wranglings between the FTC and MGM are ongoing.

Kahn was appointed by President Biden in 2021 and her term expires on September 25, meaning it’s likely to be renewed so that the top spot at the FTC isn’t vacant until after the election. Should Kahn commit to a second term, that means unless she is fired by Harris — assuming the vice president wins the election — the FTC chair would occupy that position for a significant portion of Harris’s first term as president.

MGM Director Barry Diller Wants Kahn Gone

IAC/InterActiveCorp (NASDAQ: IAC) Chairman Barry Diller is among the Democrat donors reportedly leaning on Harris and her campaign to remove Kahn. In a July interview with CNBC, Diller called Kahn “a dope” and said she’s against “almost anything” that helps business efficiently grow.

Diller’s conglomerate is the largest MGM investor, controlling roughly 20% of the gaming company’s shares as of May. IAC initiated its MGM stake in August 2020 and added to it three months later.

Mark Cuban is No Fan of Treasury Secretary Gensler

SEC Chairman Gensler has been rumored to be a potential candidate for Treasury Secretary should Harris win the presidency, but that appears increasingly unlikely as some of the vice president’s wealthiest supporters increase pressure on her to fire him, too.

Cuban has long said he wants to partner with Sands on bringing a casino hotel to the Dallas-Fort Worth metroplex.

The post Dem Donors Want Harris to Sack FTC Chair Lina Kahn, Who Sued MGM appeared first on Casino.org.

In September 2021, the Osaka Prefecture selected MGM as its casino resort development partner. After years of planning and the obtaining of necessary approvals, MGM and its local consortium were issued Japan’s first casino license in April 2023.

When MGM Resorts signed its development agreement with the Osaka prefecture and city governments, a condition was included to allow the company to back out of the deal under certain terms. MGM has reportedly canned the clause to signal its ongoing commitment to completing the more than $8 billion project.

Exit Terms

The Osaka casino development agreement with MGM Resorts allowed the Bellagio operator to withdraw from the project if tourism failed to recover to pre-COVID-19 levels, if financing was unable to be secured at fair terms, or if unexpected issues with the construction site on Yumeshima Island arose.

With MGM fully on board, construction is expected to be expedited. Work began on the JPY1.27 trillion (US$8.9 billion) scheme in December 2023.

MGM Osaka is slated to be a six-year construction endeavor. The integrated resort blueprint includes 2,500 hotel rooms across three distinct brands, 730K square feet of convention and meeting space, dozens of restaurants and bars, a theatre, and a shopping mall.

MGM hasn’t specified the scope of the casino, but the gaming floor is limited to 3% of the property’s overall indoor floor space under Japan’s 2018 gaming law.

Solid Foundation?

With MGM Resorts securing its Osaka plan, an unwavering pledge that originated nearly a decade ago, laborers are focused on strengthening the island worksite. Since December, workers have been drilling holes where steel beams will extend some 230 feet deep to reach bedrock.

Yumeshima Island was a former landfill that became a land reclamation project in the early 1990s. Yumeshima is to play an integral role in Osaka’s hosting of the 2025 World Expo.

Yumeshima is targeted to become a “smart resort city” by the city government that serves Osaka as a “global tourism hub.” The long-term development plan includes zones for business, tourism, and logistics, plus green space.

MGM told Asian gaming media outlet GGRAsia over the weekend that it continues to target a mid-2030 opening for MGM Osaka.

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England-based bet365 operates iGaming and online sports betting across New Jersey through its partnership with the Hard Rock Hotel & Casino in Atlantic City. In recently disclosed regulatory action, the New Jersey Division of Gaming Enforcement (DGE) punished bet365 with a $33,000 settlement.

The state’s gaming administrator said the online sportsbook took bets on a mixed martial arts (MMA) match that had been contested a week earlier. Bet365 oddsmakers accidentally listed the replay of the match on their book. The sportsbook was also accused of accepting wagers on other prohibited sporting events.

Settlement Ratified

DGE Interim Director Mary Jo Flaherty, who has served in the role since the agency’s longtime Director David Rebuck retired in March after leading the gaming regulatory for nearly 13 years, said the MMA match and cited prohibited wagering events occurred between Feb. 3, 2022, through Jan. 23, 2023. Flaherty said that after seeing bet365 take “remedial action,” the DGE agreed to settle the shortcomings.

Having considered the Stipulation of Settlement which the parties executed and finding sufficient legal and factual support for the recommended penalty therein, I hearby order that the settlement be adopted and that a civil penalty in the amount of $33,000.00 be imposed upon bet365,” Flaherty wrote in her order.

The bet365 penalty will be deposited to the DGE’s Revenue Unit. The fine comes just weeks after bet365 was ordered to pay over a half-million dollars back to bettors after a DGE probe concluded that the sportsbook amended odds in the book’s favor after accepting nearly 200 wagers.

Bet365 argued that the initial odds were offered in error. The DGE said a sportsbook can only amend a facilitated wager with its approval.

“The failure of bet365’s internal software coupled with its manual trading errors caused its system to be unable to ensure the accuracy of its data feeds. These failures are both problematic as to bet365’s business ability to conduct online gaming and the integrity and reliability of its operational systems, and therefore unacceptable as they resulted in misleading wagering information that was relied upon by its patrons and ultimately led to incorrect payouts for numerous patrons,” the DGE wrote.

Ensuring Trust Paramount

As sports betting has spread to nearly 40 jurisdictions in the U.S., the industry has faced criticism this year for supposedly limiting bettors who win too often and preying on those who don’t.

The Massachusetts Gaming Commission, perhaps the most pro-active regulatory in the U.S., continues to investigate how its online sportsbooks decide when to limit customers. Sportsbooks have been hesitant to reveal their trade secrets, but a planned Q&A with licensees is slated for next month.

DraftKings later realized a programming error that made the interactive slot unwinnable.

The post Bet365 Fined Again in New Jersey, This Time for Taking Bets on Completed Events appeared first on Casino.org.

Thailand’s Deputy Finance Minister Julapun Amornviva said the country’s new government is behind the effort to bring integrated resorts to the Southeast Asian country and plans to move forward on that front. The finance minister said the plan was supported by 80% of politicians attending a recent meeting on the subject.

News of the political momentum for Thai gaming venues emerged after a public comment period on the 22-page Draft of the Complete Entertainment Business Act B.E. That ran through Aug. 18 and by all appearances, Thai citizens are on board with the country introducing casino hotels as a way of boosting the tourism industry, which is one of the largest drivers of economic activity in the nation.

Speculation indicates that Thailand could approve as many as five casino licenses to start with the locations rumored to be two in the capital city of Bangkok, and one each in the Eastern Economic Corridor, Chiang Mai, and Phuket. Each venue would carry a 30-year licensing term.

New Regime Backs Thailand Casinos

Last month, former Prime Minister Srettha Thavisin was surprisingly removed from power, but the winds of political change in Thailand — a country with a history of political volatility — aren’t damaging the case for casinos.

He could be onto something with that assertion because by some estimates, Thai gaming venues could generate more than $15 billion in annual in gross gaming revenue. Should that forecast prove accurate or be exceeded, it’d make Thailand one of the largest casino markets in the world. While that pace of GGR would trail Macau and Nevada, it’d be more than enough to rival or beat Singapore.

The ruling Pheu Thai Party has acknowledged that Thailand is now trailing other countries in the region, including Cambodia, Myanmar, the Philippines, and Singapore, when it comes to legalized gaming. Currently, Thailand has no legal casinos or sports betting, but the country has more than its share of illicit gaming dens, which create problems for those communities and local law enforcement.

Thailand Could Be Vibrant Casino Market

The ongoing political momentum in Thailand for integrated resorts is important on a number of fronts, including the country’s ambition of getting some of those venues open before MGM Osaka debuts in 2030. Additionally, a hospitable regulatory environment could be pivotal in luring big name operators.

It’s believed Las Vegas Sands, MGM Resorts International, and Wynn Resorts are among the global gaming giants that are interested in pursuing Thai licenses. MGM said it would do so through its MGM China unit.

Experts believe Thailand will opt for a 17% tax on gross gaming revenue (GGR) — the same rate applied in Singapore. That tax rate is viewed as attractive and would be competitive with other casino markets in the region.

The post Thailand Casino Plan Gains Momentum as Political Support Increases appeared first on Casino.org.

Two dealers, a cashier, and guests participated in the scheme, according to a Friday report from the UK-based Cruise Mummy news outlet.

In total, some $100K was involved in the scam which took place over a couple of years, the report added.?An unnamed casino manager and six unidentified supervisors reportedly were fired.

The involved dealers weren’t identified. But they were described in reports as experienced casino dealers from Peru. Also, they had worked on the cruise ship for two years.

They were assisted in the plot by repeat guests on the ship. The guests and dealers spoke in Spanish while onboard so others didn’t understand what they were saying.

Details of Scam

The two dealers were accused of stealing casino chips. The chips then were stuffed in the suspects’ shirts and vests, the report added.

The dealers also allegedly made inaccurate payments for roulette games. Sometimes, cash chips were mixed in with colored chips, and they even added chips, Cruise Mummy reported.

There were other illicit actions involving blackjack games, the report revealed. For instance, the two dealers paid bets to losers, and didn’t collect on bets that should have been forfeited, according to Cruise Mummy.

The apparent wrongdoing was discovered when a supervisor witnessed a losing blackjack player at a table still getting payment, the report revealed. That apparently led to an investigation and authorities reviewed surveillance video captured by ship cameras.

It appears cruise line employees connected to the scam never were charged by police. No word if any of the money ever was recovered.

The allegations were brought to the media’s attention by an anonymous crew member. Word of the scam first was reported by Cruise Law News.

How It Happened

The improprieties aboard the Carnival Glory come as Carnival Cruise Line’s procedures became disorganized given less rigorous training due to the COVID pandemic, the report revealed.

Employee manuals weren’t readily available to ship staff. Also, there was insufficient oversight and not enough checks on casino floor activity.

The 952-foot, 110,000-ton?Carnival Glory began taking passengers in 2003. It recently was refurbished.

Carnival Glory carries up to 2,980 guests. The crew is made up of 1,150 employees.

Casino.org reached out to Carnival Cruise Line for comment. No immediate statement was provided.

The post Carnival Glory Onboard Casino Is Site of $100K Cheating Scam – Report appeared first on Casino.org.

Bilzerian is parting ways with his Las Vegas mansion in the gated Spring Valley neighborhood. The 5.2-acre, 40,000-square-foot Spanish Colonial-style estate features seven bedrooms, 14 baths, a 16-car garage, and an array of odd and quirky amenities fit for a hedonistic lifestyle.

At $25 million, Bilzerian’s estate is currently the costliest residential real estate listing in Nevada.

Trust Fund Baby Turned Poker Pro, Socialite, Philanderer

Bilzerian inherited a fortune from his father Paul, a corporate takeover specialist, who in 1989 was found guilty of securities law violations and ordered to pay more than $30 million in illegal profits to the SEC. It’s unclear how much the younger Bilzerian and his brother inherited.

Bilzerian claims the primary source of his wealth has been his successful gambling career, chiefly high-stakes poker. Many Las Vegas poker pros, most notably Doug Polk, have disputed those claims and allege that Bilzerian is simply a trust fund baby.

The Hendon Mob, the online poker database, puts Bilzerian’s all-time live cash earnings at just $36,626. Not exactly the kind of money that affords one a mansion in Las Vegas to complement his pads in Los Angeles, a private jet, and a luxury yacht.

Bilzerian claims he plays most often in private high-roller games that aren’t discussed publicly. His company, Ignite International Brands, also sells CBD oils, e-cigarettes, spirits, and apparel.

Bilzerian likely makes a nice living through his social media accounts, specifically Instagram, where he has 32 million followers.

That same year, Bilzerian was sued by a porn star after he threw her off a roof for a Hustler photoshoot. She landed short of the pool and broke her foot.

Anti-Israel Rhetoric?

Bilzerian more recently caused a stir after he seemingly made anti-Semitic remarks about the ongoing Israel-Palestine conflict.

Bilzerian’s family roots trace back to Armenia, a West Asia country that supports Palestine. The Armenian people of the Ottoman Empire underwent systematic destruction from 1915 to 1917 when an estimated 600K to 1.5 million people were killed in what became known as the Armenian genocide.

The estate of Kirk Kerkorian, the founder of MGM Resorts, fulfilled his wishes six years after his death by producing a film recognizing the genocide. “The Promise” starred Academy Award-winning actor Christian Bale and was directed by Oscar-nominated Terry George.

The post Playboy Dan Bilzerian Lists Instagram-Worthy Las Vegas Mansion for $25M appeared first on Casino.org.

Ohio is currently home to brick-and-mortar casinos and video lottery racinos, plus retail and online sports betting. State Sen. Niraj Antani (R-Miamisburg) says the successful rollout of internet sports gambling demonstrates the state’s ability to properly regulate and safeguard consumers for remote wagering.

As gaming has evolved in our state and we’ve seen massive success with sports betting, it’s now time to legalize iGaming in Ohio,” said Antani. “Many Ohioans don’t have close access to a casino or racino, but should be able to participate in this entertainment option.”

Antani’s Senate Bill 312 hasn’t yet been assigned to a committee for initial review.

The state lawmaker said along with generating new tax revenue, iGaming would crack down on the illegal offshore market that continues to target online casino players in states where such gambling isn’t allowed. Bovada, a leading offshore website that runs unregulated internet casino gambling in the United States, recently withdrew its platform from Ohio after Matt Schuler, the executive director of the Ohio Casino Control Commission, sent a cease-and-desist letter to the company based in Curacao.?

iGaming Would Help State’s Coffers

Currently, just seven states have authorized iGaming — Connecticut, Delaware, Michigan, New Jersey, Rhode Island, Pennsylvania, and West Virginia. A study from London-based gaming regulatory intelligence firm Vixio that Casino.org reported on last month concluded that states without online casinos are leaving a tax windfall of up to $15 billion a year on the table.

Antani wants Ohio to become the nation’s eighth iGaming state and begin reaping the financial tax reward.

Pennsylvania levies a 54% tax on online slots and 16% on online table revenue. Michigan levies a graduated iGaming tax based on total revenue that ranges from 20% to 28%.

While iGaming would certainly grow state revenue, the study commissioners said it isn’t without risk.

“While these dollars would be a game-changer for addressing the state’s childcare crisis or many other worthy endeavors, caution and thoughtful implementation are warranted as iGaming may have adverse effects on Ohio businesses and workers if done poorly or through a rushed process,” the report concluded.

Online Casino Foes, Fellows

There are many opponents to online casino gambling in Ohio. Among them are leaders at Jack Entertainment, the only casino company based in the Buckeye State.

During the Study Commission’s April meeting, Daniel Reinhard, Jack Entertainment’s senior vice president of government affairs, testified that iGaming would hurt brick-and-mortar gaming and lead to job layoffs.

Just like online retail has decimated local retail, iGaming will do the same under any logical scenario,” Reinhard opined. “iGaming will damage Ohio businesses and cost Ohio jobs leading to diminished capital investment and degradation of Ohio’s existing tax base.”

Jack Entertainment operates Jack Cleveland Casino and Jack Thistledown Racino. In contrast, Jack’s competitors, MGM Resorts and Penn Entertainment, expressed support for iGaming.

MGM runs the MGM Northfield Park racino. Penn operates four gaming properties in the state — Hollywood Casino Toledo, Hollywood Casino Columbus, Hollywood Gaming at Dayton Raceway, and Hollywood Gaming at Mahoning Valley Race Course.

Jeff Morris, who heads Penn’s government relations unit, said internet gaming has been a “catalyst for growth” in the states where the company operates internet casinos in partnerships with land-based properties.

The post Ohio iGaming Bill Introduced but Online Casinos Have Powerful Opponents appeared first on Casino.org.

In a recent report to clients, Deutsche Bank analyst Carlo Santarelli observed that 2024 and 2025 maturities among publicly traded gaming companies “are relatively limited,” adding that of the 12 casino companies the bank covers, just five have debt coming due this year or in 2025. That quintet is comprised of Gaming and Leisure Properties (NASDAQ: GLPI), Las Vegas Sands (NYSE: LVS), MGM Resorts International (NYSE: MGM), VICI Properties (NYSE: VICI), and Wynn Resorts (NASDAQ: WYNN).

Santarelli added that most of the debt the aforementioned quintet has coming due over the near term is at favorable interest rates, indicating the casino operators wouldn’t materially benefit from refinancing those obligations. That would remain the case even if interest rates decline significantly in the months ahead.

Lower Interest Rates Will Help Casino Debt

While some of the casino operators mentioned above don’t need to rush to refinance outstanding debt, there are benefits to be accrued in the industry from lower base rates.

We do believe the next 6-12 months will likely bring some relief to those with larger variable debt mixes. As evidenced in our analysis, a reduction in base rates will have the most notable and favorable impacts on discretionary free cash flow, based on our current 2025 discretionary free cash flow forecasts,” wrote Santarelli.

Boyd Gaming (NYSE: BYD), Caesars Entertainment (NASDAQ: CZR), Golden Entertainment (NASDAQ: GDEN), Light & Wonder (NASDAQ: LNW), Penn Entertainment (NASDAQ: PENN), Red Rock Resorts (NASDAQ: RRR), and Wynn could all experience increases of at least 3% to discretionary free cash flow if rates fall by 150 basis points throughout 2025, according to Santarelli.

At the high end of that range, Caesars would save $91.1 million in annual interest expenses if interest rates fall by 1.5%. That’s followed by Sands at $42.1 million, according to Deutsche Bank estimates. On a percentage basis of increased free cash flow assuming rates fall 150 basis points, Golden Entertainment is tops at 7.3%.

Casino Operators Facing Biggest Near-Term Maturities

Assuming no refinancing takes place over the near term, Las Vegas Sands and VICI face the largest 2025 maturities. Sands has $2.121 billion in bonds at a blended interest rate of 4.6% coming due next year while VICI has $2.050 billion at a blended interest rate of 4.2% maturing next year, according to Deutsche Bank.

Additionally, VICI’s contracts with gaming operator tenants are long term with gradual rent increases –two traits that provide earnings visibility.

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That’s a 30% jump from the trade group’s forecast of $26.7 billion at the start of the 2023 NFL season. Making that increase all the more notable is the point that just three states added mobile sports wagering since the conclusion of last season — Maine, North Carolina, and Vermont. Of that trio, only North Carolina is a large state.

Football is the most wagered-on sport in the US and that’s largely driven by the NFL. Should the AGA’s $35 billion projection prove accurate, it would be nearly 12x the amount that was wagered on the NCAA Men’s Tournament earlier this year, itself one of the most bet-on events in the country.

Beneficiaries of Football Betting Surge

It helps the football betting handle case that more states than ever before allow sports betting, but in terms of beneficiaries of the elevated football wagering scenario, the field is significantly smaller.

While the number of states allowing sports betting is at an all-time high entering the 2024 football campaign, the amount of sportsbook operators offering their services is not. Owing to recent attrition in the space, either by acquisition or departure, the number of regulated sportsbook operators available to bettors for the 2024 football season is below the levels seen last year.

That confirms that competing against the likes of DraftKings and FanDuel simply doesn’t make economic sense for some operators, particularly those with already low levels of market share.

Catalysts for Elevated NFL Wagering

The NFL has some advantages when it comes to wooing bettors, including standalone games on Sunday, Monday, and Thursday nights. Those contests, particularly the Sunday and Monday night affairs, are usually among the highest-rated television programs for their respective weeks and, in some cases, for the year in which those games are played.

Those games have a knack of luring big bets and when those “whale” wagers grab media attention, smaller bettors often tail, boosting handle on those games.

Sportsbook operators also have new avenues for tempting bettors. While pregame spreads, totals, and moneyline wagers remain the most popular avenues for wagering on the NFL, gaming companies are expanding their football betting menus to include same-game parlays, in-game wagering, and microbetting, all of which are being widely embraced by clients.

The post Regulated NFL Bets Could Reach $35B This Year, Says AGA appeared first on Casino.org.

Legal sports betting began at the state’s three brick-and-mortar casinos — Encore Boston Harbor, MGM Springfield, and Plainridge Park — in January 2023. Online sportsbooks commenced operations two months later in March.

According to the school’s Social and Economic Impacts of Gambling in Massachusetts’ summer update, there has been “no change in the proportion of monthly gamblers … who had engaged in any illegal sports betting between 2022 and 2023.” The UMass researchers did find a decrease in the proportion of monthly sports bettors who engaged only in illegal sports betting, but concluded that Massachusetts’ regulation of sports gambling “was not a substantial recapture of illegal sports betting revenues.”

Concerned Commissioners?

UMass researcher Rachel Volberg recently presented the July findings to the Massachusetts Gaming Commission (MGC). Though the July update focused on problem gambling rates, commissioners said their interest was piqued by the illegal betting data points.

A lot of the reason we wanted to make sure this is done and done correctly, sports wagering, is that we want to stamp out the illegal market,” said MGC Interim Chair Jordan Maynard. “The illegal market is not a victimless place.”

Maynard said the regulated space provides numerous consumer protections that aren’t available in the underground and offshore markets, including responsible gaming programs, player complaint resources, and guarantees that bets will be paid and account withdrawals will be executed.

If you have an issue with your bookie, there are only a few places you can go. If you have an issue with a legal sports wagering operator or gambling operator in the state, you can come to the Gaming Commission and we can help take care of these issues,” Maynard said.

Commissioner Eileen O’Brien said she can understand how an online sports bettor might be tricked into believing an unregulated, offshore sportsbook website is a legal operation. She said the state must do more “to continue to educate consumers” about what is and isn’t permitted sports gambling.

More Data Needed

Since legal online sports betting in Massachusetts — the preferred wagering method in states where both retail and internet sportsbooks are allowed — is only 17 months into existence, Volberg told the MGC that more time is needed to hopefully transition more bettors from the illegal market.

Many jurisdictions have found that it can take a substantial period of time for sports bettors to migrate fully from nonregulated to regulated providers,” she explained.

Sports betting has provided a substantial revenue windfall for Massachusetts. The MGC says since the first legal bet was wagered in January 2023, the state has collected $166.6 million in sports gambling taxes and fees.

The post Study: Illegal Sports Betting Rate in Massachusetts Remains Unchanged appeared first on Casino.org.

Sports betting in the US expanded rapidly after May 2018 when the Supreme Court repealed a federal law that limited single-game wagering to Nevada. Today, 38 states and Washington, DC, have legal sports betting.

Bristol researchers found that much of the content shared by leading sportsbooks like DraftKings and FanDuel failed to include responsible gaming messaging and help resources.?

AGA Defense?

The University of Bristol analyzed 1,353 social media posts by DraftKings, FanDuel, BetMGM, and ESPN Bet from July 29 through August 4. The content on X, Instagram, Facebook, and TikTok was seen over 29 million times.

The AGA responded to the study by pointing out that the social media content that didn’t include a responsible gaming message or helpline were nonsponsored posts, meaning such information wasn’t required under the code of conduct’s terms.

Like companies across other industries, sports betting operators provide relevant, engaging content to customers designed to maintain brand awareness without promoting a specific offering that is covered by the code, like sports betting,” Joe Maloney, the AGA’s senior vice president, told The Guardian. “To describe the sharing of sports facts, schedules, or discussion topics via tweets and posts on social media platforms as advertising and thus applicable to our code is an irresponsible misinterpretation.”

The Bristol review cited many posts questioning where the line between advertisement and general content is drawn.

One example came from FanDuel about a tennis match and how a bettor won $19K on the contest’s upset result. The content didn’t directly link to the FanDuel Sportsbook, but also didn’t provide problem gambling support messaging.

University Scolds Industry

While all 310 paid posts complied with the AGA code, something Maloney said shows its members’ “commitment to upholding strong industry standards,” Bristol’s academics said the reviewed sports betting content was overwhelmingly pro-betting and seemed to encourage the public to participate.

It feels like they are doing anything just to get people signing on,” said Raffaello Rossi, marketing lecturer at the University of Bristol. “This relentless exposure can make gambling seem like a normal activity, increasing participation and risk among young and vulnerable groups.”

Rossi said the four sportsbooks examined averaged 237 social media posts per day. He opined that social media content from sportsbooks “are clearly seen as advertising now.”

Rossi reasoned that Congress should act to mandate that all gambling content include responsible gaming messaging and/or problem gambling help.

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The largest operator of casino resorts on the Las Vegas Strip is selling bonds “in aggregate principal amount of 6.125% senior notes due 2029 at par.” That transaction is expected to close on September 17. MGM will use some of the proceeds to pay an issue that comes due in 2025.

The Company intends to use the net proceeds from the offering of the notes to (i) repay indebtedness, including its outstanding 5.750% senior notes due 2025, and (ii) pay transaction-related fees and expenses, with the remainder for general corporate purposes,” according to a statement. “Pending such use, the Company may invest the net proceeds in short-term interest-bearing accounts, securities or similar investments.”

As is the case with many of its peers, Las Vegas-based MGM sports junk credit ratings, but in the case of the Bellagio operator, it has one of the strongest balance sheets in the industry. The company had $2.41 billion in cash and cash equivalents as of the end of the second quarter.

MGM Bonds Not Highly Risky

S&P Global Ratings rated MGM’s latest bond sale “BB-,” noting there would be a high recovery percentage in the event of a default. The ratings agency used a model to run various default scenarios, but didn’t say the gaming company is a candidate to default on its debt obligations.

“We assigned our ‘BB-‘ issue-level rating and ‘2’ recovery rating to the company’s proposed $675 million senior unsecured notes due 2029. The ‘2’ recovery rating indicates our expectation for substantial (70%-90%; rounded estimate: 80%) recovery for noteholders in the event of a default. This is in line with our issue-level and recovery rating on MGM’s existing unsecured debt,” observed the research firm.

Buyers of corporate bonds typically focus on credit and default risks, which are amplified when evaluating junk-rated debt. The new MGM bonds fit that bill.

As such, issuers of noninvestment-grade corporates must sell those bonds with higher interest rates than higher quality equivalents to compensate bondholders for the elevated risk. The current 30-day SEC yield on the widely followed Markit iBoxx USD Liquid High Yield Index is 6.96%. More than 52% of the bonds in that index carry one of the three “BB” grades — the spectrum in which S&P rates MGM’s newest debt sale.

Eliminating 2025 Bonds is a Smart Move by MGM

Using the newest issue to take care of some of its debt maturing in 2025 could prove to be a shrewd move by MGM. Before the news of the MGM bond sale, Deutsche Bank estimated the gaming company had $1.175 billion in debt at a blended interest rate of 5.5% maturing next year.

Highlighting MGM’s strong positioning on the Las Vegas Strip, free cash flow capabilities, and share repurchases, some analysts are bullish on the operator’s corporate debt.

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The Connecticut Department of Consumer Protection (DCP) said it fielded numerous complaints from online gamblers regarding DraftKings’ internet casino. The many grievances alleged that Deal or No Deal Banker’s Bonanza was not meeting regulatory conditions or paying out the advertised 95 cents on every dollar wagered.

State gaming officials investigated to determine if the interactive slot title wasn’t programmed correctly. DraftKings was also looking into the matter and discovered that the game’s developer — White Hat Gaming — had accidentally set the game’s payout rate to zero.

DraftKings is the iGaming and retail and online sportsbook partner of Foxwoods and the Mashantucket Pequot Tribal Nation. Rival FanDuel is the iGaming and sports betting partner of the Mohegan Tribe and Mohegan Sun.

The Connecticut Lottery operates retail and online sports betting with Fanatics, but the state’s 2021 gaming expansion did not authorize the lottery to run online casino games.

Isolated Incident

DraftKings said the payout glitch for Deal or No Deal Banker’s Bonanza was limited to its online operations in Connecticut. The company said it returned $23,909 in wagers to players who bet on the game while it was not operating as intended.

The DCP, which regulates gambling in Connecticut, said it additionally fined DraftKings $19,000 for the malfunction. The state gaming agency also took issue with DraftKings failing to inform the regulator in a timely manner about the game’s programming error.

DCP officials said DraftKings became aware of the matter in early August but didn’t notify the state until Aug. 31. White Hat was fined $3,500 for the incident.

Our customers’ satisfaction and the integrity of our products are central to our success. ?We have robust measures to monitor potential payout issues, and we investigate any concerns promptly,” DraftKings said in a statement.

“In the event of a game not functioning as intended, we ensure impacted customers are appropriately refunded,” the company added.

Industry Leader

White Hat Gaming says Deal or No Deal Banker’s Bonanza has a return to player rate of 94.95%. The 5×6 interactive reel has a minimum bet of a penny and a maximum bet of $50.

The online slot is one of more than 300 games offered by the DraftKings online casino in Connecticut. Along with slots, the iGaming platform has interactive table games with live dealers.

Anyone aged 21 and older who is physically located in Connecticut can play the online casino games. The iGaming operation is also accessible from on-property at Foxwoods, meaning guests don’t need to venture down to the physical gaming floor to test their luck.

White Hat games are available in all seven states that have legal iGaming. Along with Connecticut, they are Delaware, Michigan, New Jersey, Pennsylvania, Rhode Island, and West Virginia.

The post DraftKings Slapped With $19K Fine in Connecticut for Unwinnable Slot Game appeared first on Casino.org.

Borgata announced Tuesday that the Gypsy Bar will close on September 6 to make way for a “reimagined gaming experience” area. The Gypsy Bar is located next to the Old Homestead and Izakaya fine dining restaurants.

The casino floor is also being equipped with a new high-end lounge featuring a curated selection of rare liquors from around the world. A new Asian-themed restaurant concept is additionally in the works.

We couldn’t be more excited about this project as we look ahead to this next phase of Borgata’s evolution,” said Nik Rytterstrom, president and chief operating officer of Borgata. “These enhancements are not just about maintaining our position in the market — they’re about pushing the boundaries of what our guests can expect from a world-class gaming destination.”

The Borgata casino floor update is the resort’s first major project since Rytterstrom took over the Marina District property in March. When he was appointed to the top role at one of MGM’s most critical assets outside of Las Vegas, Rytterstrom pledged to continue to differentiate Borgata in the competitive Atlantic City landscape, where nine casinos are battling to retain customers.

Borgata Rebound

Borgata has long been the most profitable casino in Atlantic City. It’s also long generated the most gross gaming revenue (GGR) in town. However, since Hard Rock and Ocean opened in June 2018, Borgata has seen its market dominance lessen.

In 2019, Borgata’s $709.6 million in GGR represented 26.4% of the market. Atlantic City brick-and-mortar casino revenue totaled approximately $2.68 billion that year. Hard Rock won $324 million for a 12% stake and Ocean won $215.7 million for an 8% position.

In 2024, Borgata has managed to win back some of that lost market share, though Hard Rock continues to improve its position.

Through eight months of the year, Borgata’s roughly $427.8 million in casino win represented 26.2% of the industry. Hard Rock’s $316.9 million accounted for about 19.5%, and Ocean’s share remained stable at 14.5% with GGR of $235.6 million.

Recent Upgrades

Borgata’s investment in improvements to its casino floor comes after the resort spent $55 million to renovate the Water Club hotel tower, which was subsequently rebranded to the MGM Tower at Borgata. Each of the more than 700 guest rooms and suites were refreshed with cool, light tones.

With the main Borgata hotel, the destination offers 2,727 rooms. During the first half of 2024, Borgata reported that the rooms were occupied 71.1% of the time on an average nightly rate of $175.29.

Along with the hotel and casino, Borgata in recent years revitalized its Long Bar on the gaming floor, expanded the outdoor pool, and opened the 9,060-square-foot Overlook event space on the 32nd floor. The venue has 28-foot floor-to-ceiling windows overlooking the Marina District and Atlantic Ocean.

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That according to recent estimates by Stifel analyst Jeffrey Stantial. DraftKings and FanDuel have long held a duopoly in the US sports wagering scene in which they account for more than 70% market share. On a month-to-month basis, the two frequently rotate occupancy of the top spot with neither ever dropping below second place. That trend remained in place in the seventh month of the year.

FanDuel appears to have regained market share in July with OSB handle share up +0-3% month-over-month in most states – consistent with seasonality observed last year, though potentially also a function of higher promo reinvestment,” wrote Stantial.

The analyst added that as measured by handle, DraftKing was the biggest loser in July, shedding as much as 3% in some markets. BetMGM and Caesars Sportsbook ceded modest handle share in July while market share in the iGaming arena was steady.

It’s That Time of Year Again for Promo Spending

College football commenced in earnest over the weekend and the 2024 NFL season starts on Thursday. So with football being the most wagered on sport in the US, it’s not surprising that there’s evidence of increased promotional spending by sportsbook operators.

“Based on the three ‘mature’ and competitive states that have reported July OSB promotional figures, reinvestment by operator ranged 1-6% of handle – up +10 basis points month-over-month and flat year-over-year on average. Interestingly, the data shows FanDuel reinvestment up ~80 basis points year-over-year (as a % of handle) on average, with DraftKings up a more modest ~40 basis points,” observed Stantial.

In recent months, BetMGM has been one of the biggest promotional spenders, according to Stantial and the analyst forecasts large expenditures from ESPN Bet over the course of the 2024 football season.

Upside Drivers, Lingering Risks

Stantial left his state-level iGaming and sports wagering forecasts unchanged, but acknowledged the segments have both positive catalysts and risks.

“Healthy underlying user acquisition and monetization (increasingly weighted to the former), 2) increasing competition boasting wider user bases (ESPN Bet; Fanatics), 3) improvements to product from omnichannel operators, 4) incremental customer acquisition tools, and 5) continued product-driven improvements to hold-rate,” he wrote.

On the risk side, the analyst sees the possibility of more smaller players exiting the US market, lethargy on the legislative front, regulatory changes, the possibility some states will raise gaming taxes, and consumer fatigue when it comes to high hold wagers as issues to monitor in the months ahead.

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He faces as much as 15 years behind bars for money laundering and operating an illegal gambling business, according to the Nevada Current. He also could be forced to pay up to $500K in fines when he’s eventually sentenced.

Prosecutors claim he gambled $148M between January 2022 and December 15, 2023 at an unspecified Las Vegas casino.

Gambled at Resorts World

LeForbes lost about $12.3M in close to 50 visits to Resorts World, the Current?reported.

But authorities didn’t say if the $148M gaming total was at Resorts World or another gaming property.

LeForbes also reportedly presented a bad check for $2.5M to Resorts World, according to the?Current.

In addition, LeForbes used hosts at the unnamed casino to find him customers, Las Vegas TV station KSNV reported. He also was paid in casino chips from gamblers, the report added.

LeForbes additionally operated an illegal sportsbook for at least five years in California, according to KSNV.

Last month, the Nevada Gaming Control Board (NGCB) revealed it wants to financially penalize Resorts World Las Vegas after the casino allegedly let illegal bookmakers gamble without saying from where the money came.

Bowyer Case

Among those named in the NGCB filing was California bookie Mathew Bowyer, 49. In August, he pled guilty to operating an illegal gambling business, money laundering, and subscribing to a false tax return.

He reportedly “transferred or directed the transfer” of at least $9.3M to Resorts World Las Vegas, according to ESPN.

Among Bowyer’s customers were pro athletes, and Ippei Mizuhara, the man who translated for MLB Los Angeles Dodgers star player Shohei Ohtani. Mizuhara stole some $17M from Ohtani to pay off massive gambling debts. Ohtani is seen as a victim.

Also, the NGCB filing named Edwin Ting and Chad Iwamoto. They both were convicted of illicit gambling. Ting is “known to have ties to organized crime,” the NGCB statement revealed.

Federal prosecutors haven’t charged Resorts World Las Vegas, the Current reported. A casino spokesperson has said the gaming property is cooperating with authorities.

MGM Resorts is paying $7.5M for violations at both MGM Grand and The Cosmopolitan, according to the?Current. Each signed a non-prosecution agreement with federal authorities, the Current revealed.

LeForbes also owes $1M to The Venetian, the Current has reported.

The post Pro Poker Player Faces Up To 15 Years in Prison After Admitting Wrongdoing — Report appeared first on Casino.org.

The casino giant and the online sportsbook operator will increase exposure of the GameSense platform at nine NFL stadiums in jurisdictions in which sports wagering is legal. GameSense was developed by the British Columbia Lottery Corporation (BCLC) and originally licensed to MGM in 2017.

The program focuses on positive, transparent, and proactive engagements with guests and customers about how to gamble responsibly. With this development, GameSense marketing will appear more often and in more prominent venue locations during each game,” according to a statement.

Last year, BetMGM and MGM were among the first gaming operators to actively promote responsible wagering habits at NFL stadiums. The other half of BetMGM is controlled by UK-based Entain Plc.

BetMGM Responsible Betting Initiative Practical

The plan by BetMGM and MGM to increase awareness and visibility of GameSense at NFL stadiums is practical on multiple. Not only does the 2024 season start Thursday, but bettors are expected to wager more than ever before on NFL games this year.

NFL players are prohibited from wagering on any NFL event and they cannot use proxies to do so on their behalves. They also cannot wager in any form at team facilities, while traveling to a road game or at a team hotel.

As part of Responsible Gaming Education Month, “MGM Resorts is announcing a $440,000 contribution to fund responsible gaming research through the International Center for Responsible Gaming and Kindbridge Research Institute.”

Variety of Venues to See Responsible Betting Ads

The stadiums that will see increased responsible betting ads this year are Acrisure Stadium, Allegiant Stadium, Empower Field at Mile High, Ford Field, GHEA Field at Arrowhead Stadium, M&T Bank Stadium, MetLife Stadium, Nissan Stadium, and State Farm Stadium.

Those are the homes of the Pittsburgh Steelers, Las Vegas Raiders, Denver Broncos, Detroit Lions, Kansas City Chiefs, Baltimore Ravens, New York Giants and New York Jets, Tennessee Titans, and the Arizona Cardinals. Online sports betting is legal in all of the states in which those stadiums are located with the exception of the Chiefs’ home field.

“BetMGM will also add to its catalogue of advertisements in the coming months that highlight its comprehensive responsible gaming resources. The spots will feature brand ambassadors sharing engaging messaging, similar to its highly regarded responsible gaming commercial featuring NHL MVP Connor McDavid,” concluded the gaming company.

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The rumor was started by a clicktbait video shared on April 6 by a TikTok account called las_vegas_vibes.

“Plans for new Disney themed Hotel and Casino in Las Vegas!!” the captions announced, complete with “leaked concept artwork” that bore the obvious stamp of AI. The post, which received 98K likes, claimed the $2 billion project was “set to be completed by 2030.”

The Lyin’ King

After being bounced around various accounts on X/Twitter, the ball was then picked up by a popular Disney fan blog on July 27.

“Years ago, The Walt Disney Company heading to Las Vegas would have been a non-starter,” Inside the Magic’s Rick Lye wrote. “Gambling goes against everything that Walt Disney stood for. But that was then, and this is now.”

The only evidence offered by Mr. Lye’s story, however, is that Disney competitor Universal is opening a year-round horror experience in a 20-acre expansion of AREA15 next year, so Disney should want to include Las Vegas in its plans to stay competitive.

Also, in a stretch undertaken to show how zip-a-dee-doo-dah Disney has become with gambling, Mr. Lye cited the $1.5 billion deal that PENN Entertainment signed last October with Disney’s ESPN to use the “ESPN Bet” trademark for its new sports betting company.

The Truth

While there have been rumblings in recent years that MGM is looking to divest itself of Excalibur and Luxor, the casino giant’s Strip properties catering to more budget-conscious travelers, there is not even a shred of a shred of evidence that the Mouse House has ever considered purchasing a casino — much less the Excalibur just because its exterior would require minimal adornment to fit the Disney brand.

Casinos do not fit the Disney brand.

That’s why Disney operates one of the world’s top-ranked cruise lines without them. (On Aug. 10, it announced that it will add five more casino-free ships to its fleet, bringing its total size to 13 by 2031.)

As complete and utter fabrications go, this one even lacks originality. Ever since Excalibur opened in June 1990, nearly everyone viewing the property for the first time has been reminded of a specific Disney landmark.

“The $294 million Excalibur is a combination hotel and theme park,” wrote Millie Ball of the Muskegon Chronicle on July 22, 1990. “It’s an eye-popper for sure, a fanciful place with a hodge-podge of Cinderella castle turrets set between two 28-story towers of 4,032 rooms, and a King Arthur theme in every inch.”

Finally, it would not be irresponsible journalism to point out that Inside the Magic averages 30 million pageviews per month despite, or more likely because of, its imagineering of the truth.

Snopes.com cites it for its false recent claims that Disney is ending the Disney+ streaming service, that it suspended Snow White from its theme parks, and, most blasphemously, that it retired Mickey Mouse.

And this subreddit was created just to keep tabs on all the clickbait stories that Inside the Magic has published since its founder, Ricky Brigante, sold it in 2018.

Look for “Vegas Myths Busted” every Monday on?Casino.org.?Click here?to read previously busted Vegas myths. Got a suggestion for a Vegas myth that needs busting? Email [email protected].

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