News

GMA quoted in GGB News

Analyst: Still A Chance to Salvage Saipan Casino

by Marjorie Preston

Back in 2010, it seemed like a surefire venture: a luxurious casino resort in an island setting, ringed by palm trees and within walking distance to white-sand beaches.  But five years later, the multibillion-dollar complex, still unfinished, was plagued by labor disputes, funding shortfalls, missed construction deadline and flailing leadership.

It sounds a lot like Imperial Pacific Palace Saipan, a beleaguered development in the western Pacific, also unfinished and also in danger of ruin.  But the resort in question is half a world away, in the Caribbean.

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GMA quoted in the Las Vegas Review Journal

Condos at Strip hotels can make future redevelopment challenging

By Bailey Schulz

Las Vegas’ skyline has never been stable.

In the ’90s and 2000s, the desert oasis-themed properties build during the city’s mob era were demolished to make room for bigger, more lavish properties.  Wynn Las Vegas replaced the Desert Inn, the Bellagio was built on the ashes of the Dunes, and The Venetian now offers gondola rides where the Sands once stood.

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GMA quoted in the Las Vegas Review Journal

US bettors to wager $4.3B on Super Bowl, a big drop from 2020

By Bailey Schulz

More than 23 million Americans plan to bet a total of $4.3 billion on Super Bowl LV, a 37 percent drop in expected handle compared with the figure from last year’s game.

A new report from the American Gaming Association said the drop was expected and almost entirely caused by pandemic-led restrictions at casinos across the country.  The largest declines are expected among retail sportsbooks and casual bets made in social settings, like pools or squares.  The total count also includes illegal bets online and with bookies.

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GMA quoted on KMTV 3 News Now Omaha

Unicameral weighing bill legalizing sports gambling

By Jon Kipper

The voters approved it, now lawmakers are figuring out how it will work.

Casino gambling at some point in the future will be taking place at Nebraska racetracks.

State Sen. Tom Briese of Albion is looking into how casino gaming will be regulated.

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GMA quoted in the Las Vegas Review Journal

Tilman Fertitta taking Golden Nugget, Landry’s public through merger

By Bailey Schulz

Tilman Fertitta’s Golden Nugget and Landry’s Inc. will go public once again through a deal valued at $6.6 billion.

Houston-based Fertitta Entertainment Inc., parent company of Golden Nugget and Landry’s is set to hit the New York Stock Exchange in the second quarter through a merger with blank-check company FAST Acquisition Corp. Fertitta took his company private in 2010 after 17 years of trading publicly.

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GMA quoted in GGB News

Massachusetts Sports Betting Not A Sure Thing

Massachusetts should have little trouble passing sports betting legislation.  Yet a bill with positive support in 2019 – with backing from the Governor – went nowhere.  Same thing in 2020.

As for 2021, well Massachusetts lawmakers agreed to a $627 million economic development deal January 5, at the end of a legislative session.

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GMA quoted in the Las Vegas Review Journal

Association working on ways to boost travel industry’s recovery

By Bailey Schulz

The U.S. Travel Association is ready to kick-start the recovery of the travel industry, which has so far suffered more than $500 billion in pandemic-related losses.

Heads of the nonprofit organization said Wednesday that they are working with the Biden administration on policies that can be implemented within the president’s first 100 days in office.  While these efforts could help economic revivals in tourism-dependent cities like Las Vegas, the USTA acknowledged roadblocks to recovery, including a potential new federal mandate that would require COVID-19 testing for domestic flights.

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GMA quoted in the Las Vegas Review Journal

Goldstein, Dumont elevated to leadership of Las Vegas Sands

By Richard N. Velotta

Las Vegas Sands Corp. on Tuesday named Robert Goldstein its chairman and CEO to officially succeed Sheldon Adelson in those roles.  Patrick Dumont was named the company’s president and chief operating officer.

Adelson died Jan. 11 after a battle with non-Hodgkin lymphoma.

The company also selected Randy Hyzak ass chief financial officer.

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GMA quoted in Las Vegas Review Journal

Virginia, Michigan become latest to offer sports betting on apps

By Richard N. Velotta

Virginia and Michigan became the 19th and 20th states to offer legal sports wagering on apps last week.

Both states started up prior to the National Football Conference and American Football Conference championship games played Sunday and provide plenty of lead time before Super Bowl LV, which will be played in Tampa on Feb. 7.

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Article by Brendan Bussmann published in Global Gaming Business Magazine

Windy City Gaming

By Brendan Bussmann

Casinos in urban environments, not always the norm, have offered challenges in certain jurisdictions.

Major markets such as Philadelphia have had casinos near downtown for years.  Pittsburgh and Detroit also feature casino gaming in downtown settings.  The Washington D.C. market, with MGM National Harbor, has also made an impact.  But in recent years, more developers have embraced urban environments to meld properties into the fabric of the greater communities they serve.  Two of the more recent examples were in Massachusetts, with MGM Springfield and Encore Boston Harbor.

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