News

GMA quoted in the Las Vegas Review Journal

Unknowns still abound for CES, city’s largest annual trade show

by Richard N. Velotta

CES has always been the city’s largest annual trade show, but with the uncertainties surrounding COVID-19, it’s possible it could be dethroned this year.

No one really knows just how many people will arrive this week for CES, which is facing challenges because of the rapid spread of the omicron variant of COVID-19.

Organizers of the show announced Friday that they are cutting the show by a day, closing Jan. 7 at 6 p.m., and eliminating Saturday activities.  They said the step was taken as an additional safety measure to the current health protocols that have been put in place for CES.

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GMA quoted on SportsHandle.com

Which States Will Legalize Sports Betting in 2022?

by Jill R. Dorson

When Ohio Gov. Mike DeWine signed a legal sports betting bill into law during Christmas week, he capped off what was already the most prolific year yet for legal wagering.  Nine states legalized sports betting in some fashion while 11 went live – either retail, digital or both.

In the 3 1/2 years since the Supreme Court overturned the Professional and Amateur Sports Protection Act on May 14, 2018, 33 U.S. jurisdictions have legalized some form of sports betting.  That number includes Florida, where earlier this year a tribal-state compact was agreed upon and ratified by the state legislature and then “deemed approved” by the U.S. Department of the Interior before a federal district court vacated it.

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GMA quoted in the Las Vegas Review Journal

CES, hit by withdrawals, stresses safety during pandemic

by Richard N. Velotta

the producers of CES are determined to have an in-person trade show next week that will be safe for the tens of thousands of people who plan to attend.

With the show opening a week away, Karen Chupka, executive vice president of CES for the Consumer Technology Association, said that while the withdrawal of several large companies from the show was discouraging, organizers understand why they’ve done it – and there are still silver linings for attendees.

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GMA quoted in the Las Vegas Review Journal

CES room rates are high but not as pricey as in previous years

by Colton Lochhead

Getting a room on the Strip when CES comes to town next month will still cost you a tidy sum, even with a smaller crowd expected for the annual consumer electronics trade show.

CES 2022 will be held at the Las Vegas Convention Center Jan. 5 through Jan. 8. Consumer Technology Association, which puts on the show, has said it doesn’t expect typical pre-pandemic attendance for this year’s return of the in-person convention after going entirely online in 2021.

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GMA quoted in the Nevada Independent

Strip’s failed condo market remains quiet, but analysts hint at a comeback

by Howard Stutz

Hiding beneath a torn and disintegrating tarp that mimics the neighboring Venetian and Palazzo resorts, the unfinished St. Regis condominium tower stands at the center of the Las Vegas Strip.

The structure is a symbolic monument to an era more than a decade ago when the gaming industry sought to blend high-rise residential complexes into the international tourist destination.

Except for a handful of projects, the concept failed.

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GMA quoted in CDC Gaming Reports

Nevada takes step toward remote registration for cashless gaming, sports betting, and igaming

by Buck Wargo

Casino patrons will be able to sign up remotely for cashless gaming and payment accounts in Nevada if regulators have their way.

The Nevada Gaming Control Board Thursday recommended casinos be allowed to remotely sign up customers, rather than have them wait in line at resorts.  It potentially sets the stage for a push to change regulations and allow remote sportsbook sign-ups in the future.  Those Strip gaming companies wanting Nevada to allow igaming haven’t given up that fight either, but both of those regulatory changes would be contentious with properties catering to Las Vegas residents.

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GMA quoted in Legal Gambling and the Law

Mirage Las Vegas Is Bought for $1.075bn by Hard Rock International

by Ella McDonald

Florida-based Hard Rock International (HRI) which is owned by the Seminole Tribe of Florida struck a deal worth $1.075 billion as it purchased the operations of the Mirage Hotel & Casino in Las Vegas.

The announcement of the deal by MGM Resorts International and Hard Rock confirmed speculations that the latter was planning to expand into the Las Vegas market.

Previously, MGM had announced that the operations for Mirage were on sale.

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GMA quoted in the Las Vegas Review Journal

Payoff from Las Vegas Super Bowl estimated at $500m

by Mick Akers

Bringing the Super Bowl to Las Vegas won’t come cheap, but tourism officials believe the cost will be worth it.

Las Vegas Convention and Visitors Authority President and CEO Steve Hill estimates the cost for the Las Vegas host committee will run between $55 million and $60 million.

But Hill said the payoff to the city will be worth it.  He said holding the Super Bowl in Las Vegas will make the city an extra $500 million over what it would typically make during a usually sold-out Super Bowl weekend in the city.  In 2019, the Super Bowl brought 310,000 visitors to Las Vegas, resulting in an economic impact of $425 million, according to research firm Applied Analysis.

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GMA quoted in the Sun Sentinel

How Hard Rock behemoth is expanding to Las Vegas with another guitar hotel, and what it means for sports betting in Florida

by David Lyons

Hard Rock International, which is owned by Florida’s Seminole Tribe, flexed its financial, branding and technology muscle this week as the company announced it will scoop up its latest acquisition: the operations of the Mirage Hotel & Casino in Las Vegas for nearly $1 billion.

As the deal was unveiled on Monday, Mirage executives called the plan “transformational” for their company.  But at the end of the day, it was Hard Rock driving the transformation, displaying its ability to create thousands of jobs, spark millions in economic activity and change the face of gambling landscapes in Florida and elsewhere in the U.S.

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GMA quoted in the Las Vegas Review Journal

Record revenue reported from nation’s casinos for 2021

by Richard N. Velotta

Nevada has produced its share of gaming revenue records this year, so it stands to reason that the American Gaming Association is indicating commercial gaming revenue nationwide will reach its highest level ever this year.

And that’s without all of the numbers from November numbers in and nothing yet from December.

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