News

GMA quoted in the Las Vegas Review Journal

CEO says Resorts World expansion already in the planning stages

by Richard N. Velotta

Resort designers knew from the start that the Genting Group had more than enough room on its 88-acre north Strip site to complete the $4.3 billion Resorts World Las Vegas.

But it was still a little surprising that KT Lim, the chairman of Genting’s board, would choose to share on Thursday that work was already underway to expand the operation.

He made comments during his opening day speech, thanking who had contributed to getting the doors open.  Lim directed his remarks to Gov. Steve Sisolak, who acknowledged them with approval.

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Article by Brendan Bussmann published in Global Gaming Business Magazine

Mergers & Acquisitions – The More Things Change, The More They Stay The Same

by Brendan Bussmann

As the gaming industry continues to evolve, so do the industry players, corporations, suppliers, and other stakeholders.  The only constant among this group is that change thrives in this environment.

While some of the players may still look the same since before the pandemic, the hats they wear can vary, as seen with such a high volume of mergers, acquisitions, and other corporate activities over the years.  Even through the pandemic, there was no stopping these continued efforts as companies either were slowed by the initial Great Shutdown or sought new opportunities to move forward.

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GMA quoted in the Nevada Independent

Resorts World unveiling ‘seems like an old-school Las Vegas resort opening’

by Howard Stutz

The comparisons between the opening of Resorts World Las Vegas and the launch of The Mirage almost 32 years ago can’t be ignored.

Like its predecessor, the $4.3 billion Resorts World ends a decade-long lull of new Las Vegas Strip hotel-casino development.  When it opened in 1989, The Mirage was the Strip’s first all-new casino resort in 15 years.

That’s where the similarities end, though.

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GMA quoted on Casino.org

Nevada Casinos Remain Shuttered More Than a Year After Pandemic Began

by Larry Henry

Some Nevada casinos have not reopened since the onset of the coronavirus pandemic last year.

In Southern Nevada, the casinos that have remained closed for more than a year include one in downtown Las Vegas and others across the Las Vegas Valley, according to a statewide analysis by the Las Vegas Review Journal.  No major resorts on the Strip are closed.

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GMA quoted in CDC Gaming Reports

Resorts World Las Vegas puts exclamation point on recovery of leisure travel

by Buck Wargo

The Strip’s weekend hotel-room occupancy has already recovered from the COVID-19 pandemic and the opening of Resorts World Las Vegas on June 24th is expected to put an exclamation point on it, according to a Wall Street analyst.

Excitement is growing about the debut of Malaysia-Based Genting Group’s $4.3 billion resort on the site of the former Stardust, which was demolished in 2007 by previous owner Boyd Gaming.  It’s expected to continue the transformation of the north end of the Strip and bring more visitors and development to the corridor.

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GMA quoted in the Las Vegas Review Journal

Some Nevada casinos still closed, some may never reopen

by Dylan Svoboda

Despite the state’s full reopening on June 1, several Nevada casinos remain closed.  Some won’t reopen for at least another year.  Others have closed their doors for good.

As of June 1, Gov. Steve Sisolak gave Nevada the green light to remove capacity limits and social distancing requirements.  Las Vegas casinos had been operating under capacity restrictions since reopening last summer.  But even as masks come off, doctors administer hundreds more vaccines a day and tourists come from across the world, some gaming houses are still getting their bearings.

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GMA quoted in the Omaha World-Herald

Group behind proposed casino at Omaha’s Horsemen’s Park seeks $17.5 million in TIF

by Reece Ristau

Developers behind a plan to transform Omaha’s Horsemen’s Park into one of Nebraska’s first casinos are counting on the city to pony up $17.5 million in tax incentives to bring the project over the finish line.

A $220 million plan by Warhorse Gaming Omaha – a subsidiary of Ho-Chunk Inc/. the economic development arm of the Winnebago Tribe of Nebraska – calls for a significant renovation and expansion of the current Horsemen’s campus near 60th and Q Streets.

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GMA quoted on PennBets.com

National report spells out the sharp disparity, higher return of PA’s approach to taxing gambling

by Gary Rotstein

Pennsylvania’s different approach to taxation of gambling – one that is onerous to some eyes, successful to others – is never starker than when the American Gaming Association releases its annual report on the industry’s performance.

The AGA’s State of the States 2021 report came out last week, and as always, it provided many tables and charts comparing breadth, revenue, taxation, and other aspects of each jurisdiction’s gaming industry.

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GMA quoted in the Nevada Independent

Will California sportsbooks lure away Nevada gamblers? Analysts say don’t bet on it

by Howard Stutz

California voters will wait 16 months before weighing in on a tribal-backed ballot referendum that asks them to legalize sports betting.

Whatever occurs, it won’t change the opinion of gaming observers.

Though there is apprehension from a few Nevada sportsbook operators about potential competition from the largest feeder market to casinos in Las Vegas and Reno, analysts and sports betting experts don’t believe sportsbooks in California – the nation’s leading Indian gaming state – will slice into Nevada’s multi-billion-dollar business.

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GMA quoted in the Las Vegas Review Journal

Leading off in Las Vegas: World of Concrete 1st major US trade show since pandemic

By Richard N. Velotta

A rapidly recovering Las Vegas will be the focus of the global tourism industry Monday, when World of Concrete stages the first major trade show in the United States since the COVID pandemic wiped out the lucrative convention and meeting business.

The spotlight is especially welcome in Southern Nevada because World of Concrete will be the first big show at the Las Vegas Convention Center’s new $1 billion West Hall, a project completed during the region’s visitation collapse to keep Las Vegas positioned as the country’s meetings leader.

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