News

GMA quoted on Vixio Gambling Compliance

MGM REIT Sale Fuels Speculation At Second Bid for Entain

by Chris Sieroty

VICI Properties plans to acquire MGM Growth Properties (MGP), including MGM Resorts International’s stake in the real estate investment trust (REIT), in a deal that values the REIT at $17.2bn and will provide some $4.4bn to fund MGM’s expansion initiatives.

The deal, announced on Wednesday, will create the largest U.S. owner of experiential real estate, valued at $45bn, and see VICI buy most of the operating partnership unites held by MGM Resorst in MGM Growth for about $4.4bn in cash.

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GMA quoted in the Nevada Independent

VICI Properties buying rival MGM Growth for $17.2 billion, will become Strip’s largest landowner

by Howard Stutz

Five months after agreeing to purchase the Strip properties owned by Las Vegas Sands, New York City based real estate investment trust (REIT) VICI Properties said it was acquiring an even larger chunk of the Strip, becoming the resort corridor’s largest landowner.

VICI announced Wednesday a $17.2 billion deal to buy out rival gaming REIT MGM Growth Properties, which owns the real estate of 15 casinos and resorts in eight states, including seven properties on teh Strip.  All of MGM Growth’s properties are operated by MGM Resorts International.

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GMA quoted in the Las Vegas Review Journal

MGM Resorts spinoff sold in $17B deal

by Eli Segall and Colton Lochhead

A major casino landlord is buying another in a $17 billion-plus deal, putting real estate ownership of many of las Vegas’ biggest resorts under one company.

Caesars Entertainment spinoff Vici Properties reached a deal to acquire MGM Resorts International spinoff MGM Growth Properties, the companies announced Wednesday.

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GMA quoted in The Nevada Independent

Indy Gaming: Nevada sportsbooks headed toward a record year even as more states legalize the activity

by Howard Stutz

Sports betting is legal and regulated in more than half of the U.S.

But despite the competition, Nevada’s sports betting industry has thrived.

If the first six months of 2021 are an indicator, Nevada sportsbooks are on pace to shatter the state’s annual records for wagers and revenues that were recorded in 2019.  Through June, sportsbooks collected $3.3 billion in bets, an increase of 32 percent compared to 2019.  Total sports revenue of $207 million is already 56.2 percent ahead of the 2019 total.

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GMA quoted on SportsHandle.com

Wyoming, South Dakota Approve Sports Gambling Rules

by Matt Rybaltowski

The Wyoming Gaming Commission approved a series of online sports wagering rules on Monday, setting the stage for the launch of mobile sports betting across the state.

Wyoming’s mobile-only framework for sports wagering compares favorably with the infrastructure in Tennessee, which prohibits betting through retail sportsbooks.  When Wyoming Gov. mark Gordon signed HB 133 into law in April, he became the first governor to legalize sports betting in his respective state during the 2021 calendar year.

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GMA quoted in Forbes

Nevada Records Another $1 Billion Month, But Las Vegas Plods Through A Cautious Recovery

by Will Yakowicz

Nevada recorded $3.462 billion in revenue from its casinos during the second quarter of 2021, making it the largest quarterly gaming win in the Silver State’s history – a signal that the gambling industry is in recovery mode.

According to the Nevada Gaming Control Board, the state collected $1.2 billion in gambling revenue in June, the fourth consecutive billion-dollar month and a 14.6% increase over June 2019.

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GMA quoted in the Las Vegas Review Journal

Nevada orders indoor mask mandate in high-transmission areas

By Mary Hynes

Nevada Gov. Steve Sisolak imposed a new mandate Tuesday that requires everyone, vaccinated or not, to wear masks indoors in public places in counties with high rates of COVID-19 transmission, including Clark County.

The governor’s directive aligns with a new recommendation earlier in the day from the Centers for Disease Control and Prevention.  The directive includes a three-day grace period that gives businesses and residents until 12:01 a.m. Friday to comply.

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GMA quoted in the Nevada Independent

Indy Gaming: Las Vegas left behind as Sands charts future in Macau, Singapore and online

by Howard Stutz

Las Vegas Sands is on its way to becoming just Sands.

the pending $6.25 billion sale of the Venetian, Palazzo, Sphere entertainment project and Sands Expo and Convention Center, announced in March, is expected to close later this year or in early 2022.

The transaction ends the company’s presence on the Strip that began in 1989 when the late Sheldon Adelson acquired the Rat Pack-era Sands Hotel for $110 million.

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GMA quoted in the Wall Street Journal

Chicago Casino Would Be a Costly Bet, Gambling Operators Say

by Katherine Sayre

Chicago leaders are searching for a company to build the city’s first casino, but big gambling operators are concerned that the government’s plans will be too costly to make the project feasible.

The city is calling for a megaresort with hotel rooms, meeting space and a surrounding entertainment district, according to a request for proposals issued in April.  Chicago is hoping a caisno will aid its underfunded pensions, said city officials.

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GMA quoted in CDC Gaming Reports

NIGA Tradeshow: Cashless gaming burgeoning due to pandemic

by Buck Wargo

It took a worldwide health crisis, but cashless gaming has emerged and casinos, including tribal operations, are lining up to embrace the new technology their customers are seeking.

Panelists representing three digital-wallet providers presented an optimistic outlook for the continued frowth of cashless gaming as they spoke to tribal casino executives at the Indian Tradeshow & Convention in Las Vegas.

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