News

GMA quoted on KNPR – Nevada Public Radio

Ownership Shuffles On Strip Called Part Of Gaming Industry Evolution

by Mike Prevatt

Casinos were quiet on the Strip during the pandemic but boardrooms were busy.

Well-known resorts like the Venetian, Palazzo, and Palms have new owners.  Eldorado Resorts took over Caesars Entertainment, keeping the better-known name.  And an alphabet soup of investment vehicles like SPACs (special-purpose acquisition companies) and REITs (real estate investment trusts) have been put to use to extract more value out of Strip resorts and the real estate they sit on.

You can listen to the story here

GMA quoted in the Las Vegas Review Journal

Tribes to discuss sports betting at NIGA gaming expo in Las Vegas

by Richard N. Velotta and Colton Lochhead

The nation’s Indian tribes are driving much of the expansion of sports wagering in the United States, and the subject will be top of mind when many tribal and gaming officials gather at a convention in Las Vegas next week.

The number of states that have legalized sports betting now stands at 32 with 10 of those approved on paper, but not yet operational, according to a report issued last week by California-based gaming industry research Eilers & Krejcik Gaming.  That means that 57 percent of the nation’s adult population can place a single-game wager at their neighborhood sportsbooks or on state-approved apps.  It wasn’t that long ago – just three years –  that Nevada was the only state where legal bets on single games could be placed.

You can read the rest of the article here

GMA quoted in the Las Vegas Review Journal

Las Vegas in ‘very tricky place’ after COVID warnings

by Richard N. Velotta and Colton Lochhead

Tourism industry analysts say it’s going to be hard to put the genie back into the bottle when it comes to revamping health and safety regulations addressing COVID-19.

But at least one resort is requiring employees to wear masks indoors, regardless of whether they’ve been vaccinated.

When the Los Angeles County Health District recommended county residents avoid traveling to destinations with rising infections and stagnant vaccination rates as in Nevada, it put local resorts in a health-and-safety no man’s land.

You can read the rest of the article here

GMA quoted in the Las Vegas Review Journal

Sands donates $17M to Florida political committee

by Richard N. Velotta

Las Vegas Sands Corp. has donated $17 million to a Florida political committee seeking ballot access on gaming and casino-related initiatives in that state.

A company spokesman confirmed the donation to Florida Voters in Charge, but he gave no details on what the company’s strategy would be.

Florida Voters in Charge advocates for decisions on casino gambling in the state to be considered on public ballots and not by the Legislature.

You can read the rest of the article here

GMA quoted in the Las Vegas Review Journal

Brooks, UFC, Mars giving Las Vegas big back-to-back weekends

by Richard N. Velotta

Normally, there’s a tourism lull the week after a three-day-weekend.

But as everyone knows, 2021 is far from normal, and the weekend after the three-day Fourth of July holiday has the making of a blockbuster for Las Vegas.

Credit a supercluster of blockbuster entertainment coming up in the city this weekend.

You can read the rest of the article here

GMA quoted in the Las Vegas Review Journal

Caesars Entertainment unveils plans for multimillion-dollar renovation

by Colton Lochhead

The original front entrance to Caesars Palace will get a multimillion-dollar face-lift this year, bringing a revamped touch to the resort’s iconic ancient Roman aesthetic, Caesars Entertainment announced Tuesday.

The resort’s original main entrance, main casino and porte-cochère will undergo renovations starting this month that will feature “a dramatic and soaring dome and barreled ceiling over a stunning 15-foot-tall statue of Augustus Caesar,” two “state-of-the-art” gaming pits flanking the main entrance and a new lobby bar, the company said in its release.  Most of the renovations are scheduled to be complete by New Year’s Eve.

You can read the rest of the article here

Brendan Bussmann interviewed on ICE 365

Could Japan’s licensing saga conclude with two – not three- IRs?

The Japanese government, after multiple delays, remains set on opening the IR licensing process by April, with a view to selecting three licensees within a year.  But when the dust settles, will all three licenses have been issued?

With the ambiguity around how many prefectures will actually apply – especially considering the twists seen in Yokohama – other prefectures may make a late bid to snap up a license.  Or only two of three could be awarded.

You can watch the video here

Brendan Bussmann interviewed on ICE 365

Yokohama drama puts integrated resorts hopes in doubt

Four prefectures have been competing for one of Japan’s three integrated resorts licenses, but the long-running process appears to be facing more and more hurdles.

In recent weeks Yokohama’s hopes of hosting one of the three may have receded, with one of its mayoral candidates supporting the project.

You can watch the video here

GMA quoted in PlayUSA.com

Could offshore sites be benefitting from states legalizing sports betting?

by Brant James

Legal sports betting continues to be unfortunately good for business for illegal sports betting.  Just how good remains a source of debate.

The scenarios that set up the odd situation are fairly well agreed-upon through:

• Emboldened current offshore bettors feel vindicated in visiting the local bookie or their unregulated site of habit when their state moves to legalize wagering.
• Semi-informed current bettors assume that a bookie or Costa Rican outlet is suddenly legal in their state
• And the half-listening dabblers, who caught 10 seconds on the evening news about their state legalizing, Google themselves right into an offshore account by searching for sports betting options where they live

You can read the rest of the article here

GMA quoted on Casino.org

Newly Opened Resorts World Plans to Expand on Las Vegas Strip

by Larry Henry

The most expensive hotel-casino in Nevada history has bene open less than a week, and already is eyeing an expansion at its site on the Las Vegas Strip.

Without offering specifics, executives at the $4.3 billion Resorts World Las Vegas have noted they have room on the 88-acre site to expand. The resort opened Thursday at the northwest end of the Strip where the Mob-connected Stardust Casino once stood. Resorts World is just south of Circus Circus Hotel and Casino and the smaller Slots-A-Fun property.

You can read the rest of the article here