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Unikrn Gets Isle of Man Licensing for Cryptocurrency, Esports Betting

Posted on October 30, 2018 by -

Unikrn has been granted licenses for cryptocurrency and real-money online gambling on esports from the Isle of Man.

Unikrn CEO Rahul Sood said the licensing was part of the company’s “biggest launch since 2014,” and that it is the “the world’s first and only blockchain-based live wagering backend with regulated real-money and crypto betting.”

According to CalvinSyre.com. Unikrn Limited is now listed as a license holder on the Isle of Man Gambling Supervision Commission website. The company already has a real-money online gambling license from the Malta Gaming Authority.

Sood said Unikrn will offer esports betting in Europe, South America and Southeast Asia. In the U.S., players will be limited to betting on their own gameplay versus other players in the 41 states in which ‘skill-based betting’ is legal. However, no launch date for the U.S. has been announced, CalvinAyre.com reported.

Sood said that the company passed a rigorous test of its anti-money laundering and digital wallet processes in getting Isle of Man licensing. Sood told the Associated Press that the license means there is “finally a legitimate, regulated operator in the space that has a pretty competitive offering.”

West Virginia Sports Books Collect $10 Million

Posted on October 30, 2018 by -

In West Virginia, where sports betting has been legal for two months, sports books have taken in about $10 million in wagers, giving the state more than $200,000 in tax revenue. Weekly sports betting totals have been steadily climbing, making it likely the state will collect its projected $5.5 million after one year.

Hollywood Casino, the first West Virginia operation to open a sports book in late August, has taken in more than $9 million wagers, resulting in $2.3 million in revenue, not including outstanding futures bets. Hollywood’s handle has grown each week since opening, reaching more than $2 million for the most recent reporting period, October 6012.

Week 1: $457,788

Week 2: $1,104,008

Week 3: $1,713,845

Week 4: $1,829,347

Week 5: $1,875,615

The Greenbrier’s FanDuel Sportsbook opened two weeks after Hollywood’s. The latest numbers are:

Week 3: $87,763

Week 4: $75,222

Week 5: $178,666

Week 6: $105,442

Total handle: $447,094

Total revenue: $75,697

Taxes due: $7,570

The Greenbrier’s fairly remote location in the Appalachian Mountains is a disadvantage. However, its branding partnership with FanDuel is a big help. FanDuel Sportsbook operates the resort’s brick-and-mortar facility, but a digital sports book is expected soon. Hollywood is partnered with William Hill for online/mobile betting.

West Virginia Lottery Deputy Director Doug Buffington said the state’s fifth and last casino, Mountaineer Casino, Racetrack and Resort in Chester, recently paid the $100,000 annual fee for a sports betting license. Mardi Gras Casino and Resort and Wheeling Island, both owned by Delaware North, announced they soon will start field tests of sports betting equipment, Buffington said.

Rhode Island Candidates Spar on Gaming

Posted on October 30, 2018 by -

The Providence Journal last week asked Rhode Island’s gubernatorial candidates a question relating to gaming expansion. Gaming is the third largest source of revenue for state government.

The question was directed to — incumbent Democrat Gina Raimondo, Republican Allan Fung, Moderate Party candidate William Gilbert and independent candidates Joe Trillo and Luis-Daniel Munoz. Trillo declined to answer.

In light of the fact that the state budget is more dependent on gaming revenue that it was four years ago and there are proposals to expand gaming, the candidates were asked: “Is the state’s reliance on gambling a cause for concern and, if elected, would you support allowing either online betting or betting at more locations than the current Twin River casinos?”

A spokesman for Governor Raimondo replied: “We need to keep expanding our economy. When it comes to the casinos, we did everything we could to be in as strong a position as possible to benefit from the federal ruling regarding sports betting. The Governor and her team will continue to evaluate.”

Munoz replied: “In general, I do not think that Rhode Island’s economy should be reliant on gambling. I also do not believe in monopolies for any industry that has already been legalized.”

Gilbert’s answer was: “I don’t oppose the expansion of online gambling venues as it is in keeping with personal freedom and liberties, but I also don’t like reliance on gambling as a state revenue source. I believe we should be more focused on travel and tourism with gambling as a component of that total tourism package.”

The Fung campaign replied: “Mayor Fung would be supportive of online betting. However, he would demand that any expansion of betting outside of Twin River Casinos be put on a local ballot for approval or disapproval. There has to be an element of local control.”

Odds Looking Good For Legal Sports Betting Next Year In Indiana

Posted on October 30, 2018 by -

The Indiana General Assembly’s Interim Study Committee on Public Policy recently voted 9-0 to recommend that the 2019 General Assembly consider legalizing sports betting. During the 4-hour session, committee members discussed the level of taxation; who could be licensed to take bets; the types of bets allowed; major league integrity fees; betting restrictions; and more.

Committee members said the state’s 13 casinos would be the likely locations for sports betting, along with two racinos in central Indiana, and they also supported allowing online and mobile sports wagering. Bettors already can wager on horseraces via mobile devices or online, and also gamble using smartphones inside a casino.

Committee Chair and state Rep. Ben Smaltz said the committee’s vote is a neutral recommendation to continue to work on the complex issue of sports betting. “My concern is the weeds, the details, the data, the regulations, the funding. How is all that going to work?” he asked.

The Indiana Gaming Commission would regulate sports betting if it’s approved by the state legislature. IGC Executive Director Sara Tait told the committee sports betting “is something that has been successfully regulated elsewhere for years, so we’re not going to have to reinvent the wheel.”

Committee members heard the results of a report commissioned by the IGC, indicating within the first five years, sports betting, in-person and online, would create 2,281 direct and indirect new jobs and total $256 million a year, including $38 million to the state in annual new tax revenue in the fifth year, using a 9.75 percent tax on gross revenue plus licensing fees. In Nevada, sports betting operator keep only 4-6 percent of the total handle. “Sports betting is a low-margin business that appeals to a broad audience,” the report said.

Proponents also noted sports betting could help increase Indiana’s overall gaming market, since sports bettors tend to be younger and more affluent than the average casino patron. Also, legal sports betting could help eliminate bets placed through bookies and other illegal “black market” gambling operations. “On balance, we believe the risks associated with delaying sports betting beyond the 2019 legislative session clearly outweigh the rewards,” the report said. It added Indiana could lose money to the black market if it doesn’t offer mobile online betting, restricts wagers on college sports or sets the tax rate too high.

State Sen. Ron Alting, chairman of the Senate Public Policy Committee which oversees gaming legislation, said he expects a sports betting measure will be filed in January when the legislature reconvenes. Meanwhile he urged colleagues to continue to study sports betting in other states and talk to gaming experts and major sports leagues. “You definitely need to dot your I’s and cross your T’s on this. We don’t want to write ‘a’ bill, we want to write the best bill,” he said.

State Rep. Ben Smaltz, chairman of the House Public Policy Committee, said sports betting is not an expansion of gaming, in response to several conservative Republican legislators’ opposition. Smaltz said he considers sports betting as another option, like adding new slot machines. “My concern is that we need details and data, the regulations, the funding. How is all that going to work?” he asked.

Casino Association of Indiana President Matt Bell outlined for legislator what his group hopes for in terms of sports betting. He said the IGC should regulate sports betting; licensing fees should be reasonable and licenses limited to already-licensed casinos; mobile sports betting, wagering on in-state teams and in-game betting should be permitted; participants must be age 21 or older; the tax rate should be a “single digit”; and no integrity fees should be paid.

National Basketball Association Counsel Dan Spillane disagreed with the last point, causing some tense moments at the hearing. “We certainly are not saying that unless we get compensation from legislation that we’re not going to do everything within our power to protect the integrity of our sport. That’s absolutely not the case,” he said. But he said the NBA will need to invest additional resources to monitor integrity since sports betting is being forced on the leagues against their will.

State Rep. Jim Lucas responded, “You should be working — and it sounds like you are — working hard to maintain that integrity. I don’t understand that more pressure is going to be put on you if somebody else is betting on it. You should be maintaining that integrity no matter what, whether some somebody is betting a dollar on you or a million dollars on you. I don’t care.”

Oklahoma Tribes Explore Sports Betting

Posted on October 30, 2018 by -

At the recent annual meeting of the United Indian Nations of Oklahoma Kansas and Texas, sports betting was the major topic. Creek Nation Chief Executive Officer Pat Crofts said, “We view sports betting with a lot of excitement. We are going to be dealing with a lot of new legislators and a new governor. So the one thing we know is it won’t happen quickly.”

Crofts said he and other tribal officials recently toured sports betting facilities on the Mississippi Gulf Coast. “Those sports books are drawing customers from all over the southeastern United States. They come in to make a few bets on the games and stay for a day or a weekend. It has brought a lot of new customers into their facilities. We think that could happen here, too, especially those casinos down near the Red River,” Crofts said.

He predicted sports betting could be legalized in Oklahoma as early as next summer. Others have suggested 2020 is more likely, such as Osage Casinos Chief Executive Officer Byron Bighorse. “I think 2020 might be the earliest for us, and that would be a pretty aggressive calendar. We have an upcoming election of our state’s new governor. We will need some type of legislation. Sports betting is a complex issue with a lot of variables. There are a lot of steps that need to be taken before you will see sports books start popping up around the state.”

Before tribal casinos could offer sports betting, the legislature would need to pass legislation to amend tribal gaming compacts to allow sports betting, and the governor would have to sign off on it. Oklahoma tribes will begin renegotiating state gambling compacts next year and into 2020. Some tribal compacts contain an evergreen clause allowing the agreement to continue for a defined period if the existing agreement is not renegotiated or properly canceled. The Innovation Group President Michael Soll noted, “We don’t know what will happen legislative-wise in your state. However, what we do know is that Oklahoma may have more gaming-possible tribal land than any other state.”

Michell Hicks, former chief of the Eastern Band of Cherokees and president at Chief Strategy Group in Cherokee, North Carolina, cautioned tribes need to take their time regarding sports betting. He said, “The door has been opened. However, it is very important that every tribe make sure it is a concept they want to do. Then, you have to make sure it is a critical piece of what you can do. It takes a lot of planning. I think it is wise to take your time and do what is best for each tribe. It is different for everyone.”

Caesars Entertainment Senior Vice President of Strategic Development and Enterprise Gaming Walt Fales agreed. He added, “These things can take a long time. Sometimes, there is a long lead time. However, my suggestion is for tribes to do their homework and start working now. Investigate what they want to do and how best to operate it. So when an agreement is reached, you can shorten the time it takes to get up and running.”

Fales said tribes should not consider sports books a big profit center. “I think in many cases sports betting is more of an amenity for your customers. The margins are very small, and it is a complex addition. However, I would compare it to providing food and beverage or entertainment. It is something your customers want, and they want it to be convenient.”

Tribes considering sports betting also need to consider taxes. SG Digital Vice President Kevin Vonasek said depending on the tax rate, some wagerers could go online or to a sports book at a casino in a neighboring state. “You have to monitor your competition, what they are offering, either within your state or in neighboring states.” Currently, Mississippi is the closest state to Oklahoma where wagerers can legally place a sports bet.

In addition, the experts noted, tribes will have to determine how their sports books actually will operate. Many have hire established sports betting operations with experience in setting lines and training personnel. Cherokee Nation Entertainment Chief Operating Officer Mark Fulton noted, “There’s going to be a gold rush on talent for guys who make the lines.”

Horseshoe Casino, Baltimore Ravens Announce Marketing Deal

Posted on October 30, 2018 by -

The Horseshoe Casino Baltimore announced a first-ever official marketing partnership with the NFL’s Baltimore Ravens, whose M&T Bank Stadium is walking distance from the casino.

Baltimore Ravens Senior Vice President of Corporate Sales and Business Development Kevin Rochlitz joined former Ravens and NFL Hall-of-Famer Jonathan Ogden and Caesars Regional President and Horseshoe Casino General Manager Erin Chamberlin at the casino for the announcement, which represents the second-ever partnership between a National Football League team and a casino.

The agreement is also the first of its kind between a NFL team and a Caesars Entertainment casino.

“Horseshoe Casino Baltimore has become a popular destination, particularly for Ravens fans before and after our home games,” Rochlitz said. “We’re enthused about this partnership and believe it will further enrich the entertainment appeal surrounding M&T Bank Stadium. Additionally, we feel it will help contribute to the exciting development taking place throughout the area.”

The partnership brings together the two anchors of Baltimore’s developing Southern Gateway Entertainment District, which earlier this year welcomed global sports entertainment leader Topgolf. Topgolf is slated to open in 2020 along Stockholm and Warner streets.

“It is an honor for us to officially partner with our neighbor, the Baltimore Ravens,” said Chamberlin. “We are two strong Baltimore brands that are committed to the city and the region. We both offer a unique entertainment product with broad and complementary appeal. And, we share a common commitment to transforming the southern gateway into an unrivaled entertainment district that adds renewed energy and excitement to the area.”

“It’s a great thing for us and a great thing for Horseshoe,” Rochlitz told the Baltimore Sun. “The opportunity to merge our brands together allows our fans to do certain things inside Horseshoe Casino, and we’re going to be working on some consumer promotions that they’re going to announce to rewards members. It also allows a great opportunity for our fans to come in here to the casino and win certain prizes.”

“Horseshoe Baltimore has always been a great place for Ravens fans to come, and with this agreement it’s about to get even better,” Chamberlin told the Sun. “One of the things that we think is a really big opportunity for us is to show people that we’re not just a casino, not just slots and table games, we have a lot of great restaurants, a lot of great bars.”

The Dallas Cowboys became the first NFL team to partner with a casino last month, when WinStar World Casino became a corporate sponsor for the team.

Parx Files Application for Shippensburg Mini-Casino

Posted on October 30, 2018 by -

Greenwood Gaming has applied to the Pennsylvania Gaming Control Board for a license to open a Category 4 mini-casino near Shippensburg, tied to its primary casino in Bensalem, Pennsylvania.

The proposed site lies in Shippensburg Township, just east of the Franklin County line. It is home to Shippensburg University.

According to a report on the PennLive.com website, the casino is targeting a 2020 opening if it wins the license.

“The applicant has some control of the site, but it must also obtain all required permits locally to satisfy the board and gain the award,” Gaming Control Board spokesman Doug Harbach told PennLive.

“The board will also look at the same issues as with any casino licensing including… whether the applicant is likely to maintain a financially successful, viable and efficient business operation in that location, and is likely able to maintain a steady level of revenue growth. Certainly, there could special conditions attached to the license as well.”

“We are happy about the site,” Greenwood Chief Marketing Officer Marc Oppenheimer told PennLive. “We’re looking forward to building there and running a great business there.”

Oppenheimer said initial plans call for 475 slot machines and 40 table game betting positions in a casino that, once open, will be within 25 miles of 300,000 residents. The casino would be visible with easy access from Interstate 81.

Steve Oldt, chairman of the Shippensburg Township board of supervisors, told the news site that local officials are “excited” about the project, which he noted will provide significant revenue that currently does not exist with a large tract of land on which the university sits off the tax rolls.

“We’ve been waiting for it to happen, and we’re looking forward to working with (Greenwood) and trying to make it as pleasant and painless as we can, Oldt told PennLive.

Sources: Greenwood, Cordish Could Sell Philly License

Posted on October 30, 2018 by -

Pennsylvania’s Greenwood Gaming and Baltimore’s Cordish Companies, partners in Philadelphia’s Stadium Casino project—previously known as Philly Live!—may be preparing to sell their partnered license for the city’s second casino, according to sources in multiple publications.

“Sources are telling us that the Philly Live! casino project is dead in the water,” tweeted Roger Gros, publisher of Global Gaming Business magazine. “The two owners, Cordish and Parx, will ask permission from the PA gaming board to sell the license. No confirmation yet, but very reliable source.”

The PlayPennsylvania.com news site also reported the sale rumors, citing confirmation from Chris Krafcik of Eilers & Krejcik Gaming.

The $50 million fee for the Category 2 casino license is only one cost to be considered by any entity that would purchase the project. The partnership has pumped twice that into the property. In addition to the casino license, the Stadium Casino partnership has turned over $40.1 million to the Pennsylvania Gaming Control Board for a mini-casino license, and has identified a former Sears store in Westmoreland Mall near Derry, Pennsylvania as the location for the satellite facility; and has shelled out a $10 million fee to offer full online gaming.

Some have estimated that the mini-casino at the mall will open before the main parent facility, as construction is only at the beginning in Philadelphia and the mini-casino is planned for an existing building.

Any buyer presumably would be required to take on the satellite-casino and online gaming licenses attached to the primary license, unless Stadium withdraws its supplemental applications prior to selling the primary license.

The gaming news sites could only speculate on the reasons the Stadium partnership could pull out of the market. The Online Poker Report suggests Greenwood is concerned the Stadium project would draw customers away from its Parx property in the Philadelphia suburb of Bensalem, and the difficult tax environment in Pennsylvania as possible reasons for Cordish to pull out.

DC, Maryland, Virginia Legislatures May Legalize Sportsbook

Posted on October 30, 2018 by -

Lawmakers in Virginia, the District of Columbia, and Maryland are moving towards legalizing sports wagering in those states.

Currently the only place for Beltway denizens to bet on the Super bowl or other sporting contests is at the Hollywood Casino at Charles Town Races in West Virginia—a considerable drive.

Sports betting became legal there in September and so far has accounted for $9.5 million in its first five weeks.

D.C. Councilman Jack Evans has introduced a bill, supported by six council members and the mayor, that would bring sportsbook to the district as early as new spring, or, as Evans puts it by “Opening Day” of Major League Baseball.

Evans sees an online component, as well, noting that several area arenas and hotels have shown interest in signing up.

Maryland lawmakers tried and failed to put a referendum on the ballot earlier this year, but some are aiming at another bite at the apple, this time aiming for the 2020 ballot. Unlike Virginia, there are casinos in Maryland.

Maryland Governor Larry Hogan’s office issued this statement: “Legalizing sports betting in Maryland will require action by the General Assembly and ultimately a referendum on the ballot,” adding, “The governor has previously expressed support for the rights of states to make this determination and we anticipate this issue will be debated in the next legislative session.”

Opponents of runaway gaming expansion, such as the National Council on Problem Gambling, are dismayed at the “gold rush mentality” among many states, as Keith Whyte, executive director put it. States are only looking at the taxes and profits and not at the social costs, he says. He fears that soon bets will be made by smartphone while players watch games on TV, or in the stadium. They will, he says, be “able to bet on every single performance by every single athlete on every single play of every single game,” something that is unprecedented in modern history.

Virginia state Del. Marcus Simon recently announced in the next session of the General Assembly, beginning in January, he plans to introduce a measure to legalize sports betting. “I think there will be some appetite for this. I think there is certainly a revenue opportunity in Virginia. We already see a lot of our residents’ dollars go across the river to the MGM casino, and we lose out on a lot of opportunities to capture some of that revenue.”

Simon said although casinos are illegal in Virginia, sports books could be offered at horseracing tracks and off-track betting facilities. “And there is probably a way to facilitate online sports gaming as well,” he said. Simon added his bill would make sports betting legal as of July 2019. However, he commented, “I wouldn’t be surprised at all if the folks in the General Assembly decide it needs another year of study so we can figure out how it might work. That said, I want to get the process started.”

Simon said he’s also drafting a companion bill he calls a sports bettor’s bill of rights. “So consumers and people who engage in this kind of activity will have some basic consumer protections and they can feel confident that their money will be protected and they are participating in a fair game,” he said.

Governor Ralph Northam’s spokesperson Ofirah Yheskel said, “Governor Northam believes any future proposal to expand sports gaming here in Virginia should be considered with the input of the General Assembly and the communities that will be impacted in order to fully assess the benefits and potential consequences for existing industries and businesses.”

Meanwhile, more than 1,000 people recently gathered in downtown Bristol to express their opposition to a proposed casino in the vacant Bristol Mall property—even though last month the Bristol city council unanimously approved a resolution in support of the proposal. The project would have to be approved by the state legislature, which also would have to change state law to allow casino gambling. Officials said the facility would require 18-24 months to open.

Developers of the Bristol Resort & Casino recently released site plans for the project, showing gaming areas, restaurants, shopping and other amenities.

At the protest, the crowd included more than 40 religious leaders and members of their congregations. Several said they fear a casino would lead to more crime, addiction and poverty. Organizers said they have distributed nearly 2,000 yard signs and gathered hundreds of signatures on petitions.

U.S. Operators Eye Elliniko

Posted on October 30, 2018 by -

Changes in online license investment

A pool of six gaming operators interested in a casino at Greece’s Elliniko International Airport has dwindled to just three. All of them are U.S.-based: Caesars Entertainment, Hard Rock International and Mohegan Gaming. France’s Group Lucien Barriere, the Las Vegas Sands Corp., Melco Resorts & Entertainment and other, smaller investment and construction companies have bowed out, reported eKathimerini.com.

The bidding has not yet officially begun for the license to run an integrated resort near Athens, and a winner may not be announced until the first quarter of 2019, the website reported.

Local developer Lamda Development has been chosen to build the integrated resort, which is part of a larger privatization program and a condition of the country’s third bailout package, reported Casino News Daily.

The winning bidder will be expected to build a 600,000-square-meter (6.45 million-square-foot) resort worth about €1 billion (US$1.138 million). The larger complex will include hotel towers, convention facilities, food and beverage options and retail as well as other attractions. According to a 2016 report by the Greek Foundation for Economic and Industrial Research, the resort will create 10,000 construction jobs, and 75,000 permanent jobs after it opens.

Atlantic City’s Ocean Resort Opens Esports Lounge

Posted on October 30, 2018 by -

Atlantic City’s Ocean Resort has taken a step to help the city become a center for eSports by opening “the Den,” an on-property esports facility.

The opening was part of an esports gaming festival held at the casino through a partnership with Fox Marketing’s Gameacon. The festival featured panels, esports competitions, and showcased new games. Organizers said it was the first time a casino has partnered to host Gameacon.

Casino Vice Chairman Jordan Deifik said The Den “is a place you go and hang out with your friends.”

“It’s similar to the den you had growing up in your house,” Deifik said, according to CDC Gaming Reports. “Not only do I believe in esports, but I see it exploding as a field that’s becoming legitimized with all of the investment that is going on. The research of esports is now such that it’s being taken seriously on the level of football, baseball and other major sports.”

Atlantic City has been making strides to become a center for esports play.

“We’re trying to find a way to capture a piece of that exploding market that is esports now but also to drive that younger demographic, the millennial, to the property,” Deifik said. “It made all of the sense in the world to try and find a way to position ourselves as the preeminent esports property for the East Coast. That’s what we’re trying to do.”

The Den is a 5,600-square-foot facility that features PCs, arcade games, and more traditional games found in bars.

Tropicana Atlantic City Launches New Jersey Sports Book

Posted on October 30, 2018 by -

Tropicana Atlantic City has opened a sports book in its North Tower casino, making it the seventh Atlantic City casino to offer live sports betting.

The sports book was launched in partnership with William Hill, which also operates sports books in the state at Monmouth Park racetrack in OceanPort NJ and the Ocean Resort casino in Atlantic City.

The first bet at the temporary facility was for the Los Angeles Lakers to beat the Denver Nuggets the night of the opening.

In Atlantic City, only the Hard Rock casino has yet to open a live sports book. Caesars Atlantic City also has not opened its own sports book, but is sharing a temporary facility at its Bally’s Atlantic City property.

Along with its North Tower facility, Tropicana plans to add sports betting kiosks around its property.

“I think it brings a new customer,” Tropicana general manager Steve Callender told Philly.com. “Especially the millennials who grew up playing fantasy sports and might not want to play slot machines or table games, but they’ll bet games. And there’s an existing market that will give people something else to do. We’ve been waiting a long time for this.”

The casino was part of Eldorado resorts recent acquisition of Tropicana Entertainment from billionaire Carl Icahn—which delayed the opening of the sports book as the company sought various licensing approvals from state regulators.

The casino has not announced whether it will launch an online component. Upon taking over the Atlantic City property, Eldorado quickly fired the casino’s online staff operating the online casino site Tropicana.com in New Jersey. However, it is unclear whether the firings mean the company is not interested in online gaming or will simply outsource management of the sites.

Meanwhile, William Hill also announced it will operate a sports betting lounge at Newark’s Prudential Center, home of the NHL’s New Jersey Devils.

The facility will not include a live sports book, but the company will have “ambassadors” on hand to assist patrons in downloading William Hill’s New Jersey online sports betting app. Other than that, the lounge will appear as a normal William Hill sports book with games broadcast on more than 20 screens including odds boards displaying the menu of betting options across all sports.

Odds will also be displayed on the center’s scoreboard and the facility will be open for every event in the venue, including concerts, according to a report at ESPN.

“Our goal has always been to make Prudential Center the home of sports and entertainment in New Jersey, but ultimately our mission is to create the most dynamic fan experience in the industry today, and the William Hill Sports Lounge will play a part in amplifying fan experience here,” said Hugh Weber, president of the Devils’ ownership group, Harris Blitzer Sports & Entertainment in a press release.

Joe Asher, William Hill U.S. CEO, told ESPN that the company sees New Jersey as one of the key sports betting markets in the U.S. even though six states now offer sports betting.

“We’re spending a considerable amount of marketing dollars in New Jersey,” Asher told ESPN. “It is going to be a very competitive and expensive landscape for the next couple of years. A think a lot of companies in the space feel the need to push hard in the state as a testing ground to prove they can be everywhere. In a way, it’s like the Iowa caucuses in politics.”

William Hill operates one of eight online sports books in a very competitive market in the state. Last week, three of those online sports books—PlayMGM, BetStars and 888—launched iOS versions now available on the Apple App Store. The launch means that all eight of the state’s online sports books are available in iOS and Android versions.

And in a related story, William Hill U.S. said it suing sports betting rival FanDuel—which operates the sports book at the Meadowlands Racetrack in East Rutherford—for allegedly copying its “how to bet” guide for customers.

William Hill US filed a copyright infringement lawsuit in U.S. District Courts saying that FanDuel blatantly duplicated their guide, even using the same hypothetical examples William Hill uses to explain bets. The suit says FanDuel also lifted block copy from William Hill’s guide as well as graphs and diagrams.

The lawsuit seeks unspecified damages against FanDuel, including any profits it made by using the allegedly copied guide.

“We are not litigious people, but this is ridiculous,” Asher told ESPN. “If the court finds in our favor, a portion of the proceeds will fund scholarships for creative writing programs at New Jersey universities.”

Reports: Caesars-Fertitta Merger a No Go

Posted on October 30, 2018 by -

The board of directors of Caesars Entertainment was expected last week to unanimously reject a merger offer from casino and restaurant tycoon Tilman Fertitta. Later in the week, Caesars hired Goldman Sachs to fend off any attempt at a takeover by activist investors.

News of Fertitta’s overture had sent Caesars’ shares soaring, but the board was reported to believe the complex reverse merger would saddle the Las Vegas-based casino giant, only one year out from a massive bankruptcy reorganization, with too much debt.

“That is certainly not attractive,” a source close to the internal discussion at Caesars told The New York Post.

The company still carries a debt load of around $9 billion, way down from $25 billion of debt that drove it in 2015 to seek refuge in U.S. Bankruptcy Court, the result of a 2008 leveraged buyout by private equity funds Apollo Management and TPG Capital.

If anything, Caesars’ policy since the reorganization has been to make up for lost time by growing through selective strategic acquisitions in the U.S. in partnership with VICI Properties, the real estate investment trust forged out of the reorganization, and to aggressively pursue opportunities in South Korea, Australia and key emerging markets such as Japan.

In a move designed in part to help it diversify away from a business model heavily weighted toward the Las Vegas Strip, Caesars committed $1.7 billion last year in conjunction with VICI to acquire Centaur Holdings, a privately owned operator with casinos and racetracks in the Indianapolis area, and is pursuing a $1 billion-plus deal with VICI to acquire Jack Entertainment, another Midwest operator with six casinos in Cleveland, Cincinnati and Detroit.

Another twist developed last week, when rumors circulated that MGM Resorts might be interested in acquiring Caesars if it could do so in a friendly takeover. There have been no reported talks between the two gaming giants and neither would comment on the rumors.

In hiring Goldman Sachs, which has a team dedicated to defending against activist investors, Caesars hopes to create an orderly and controllable sale process if that is going to happen. And an unnamed gaming analyst told the Post that Caesars shareholders “want something to happen,” and that Caesars CEO Mark Frissora, whose contract is up in February, is likely to listen.

Wall Street analysts say combining with Fertitta’s five closely held Golden Nugget casinos and his scores of Landry’s and other well-known restaurant franchises would boost earnings of the enlarged company through cost-cutting and leveraging loyalty programs. But the new entity also would need to sell assets, including casinos, to reduce high debt levels post-merger.

JPMorgan analyst Daniel Politzer put the potential increase in earnings at between $100 million and $200 million a year. But he noted at the same time that the assumption of Fertitta’s debt, about $4 billion, according to published reports, would saddle the combined company with a leverage ratio of about 5.5 times, high by gaming industry standards.

“We assume that Fertitta could help finance the transaction with sale leasebacks at some casino properties (Las Vegas, Laughlin, Atlantic City), and the combined entity would also likely divest an Atlantic City property. We assume Bally’s, as it is the smallest contributor,’’ Politzer said.

Bothe Politzer and Credit Suisse analyst Cameron McKnight said Fertitta’s offer underscores how undervalued many of the listed U.S. gaming giants have become as visitation and convention attendance has softened in Las Vegas over the course of 2018. The shares of major Las Vegas gaming operators have tumbled more than a quarter from their peak earlier this year.

“We believe the overarching takeaway is that strategic and financial buyers recognize the seemingly silly valuations most operators have traded to in the recent swoon,’’ Politzer said.

Morton’s Offering 3-Course Halloween Special

Posted on October 29, 2018 by -

Morton’s Steakhouse at Caesars Casino in Atlantic City will offer a 3-course signature dinner this Halloween, October 30-31 for only $36. Come celebrate at Morton’s with this great deal (tax and gratuity not included).

The menu offers some classic dishes:

~ Choice of Appetizer ~

Beefsteak Tomato & Mozzarella Salad
Prosciutto Wrapped Mozzarella
Chopped House Salad, Dijon Vinaigrette Dressing Cup of Lobster Bisque

~ Choice of Entrée ~

Grilled Bistro Filet, Blue Cheese Bacon Mashed Potatoes
Pork Chop
Shrimp Scampi Capellini
Honey-Balsamic Glazed Salmon Vegetable Relish
Chicken Piccata, Garlic Wilted Spinach, Crispy Fried Capers

~ Choice of Accompaniment ~

Bleu Cheese Bacon Mashed Potatoes
Charred Broccolini
Brussel Sprouts, Sauteed with Bacon and Onion

~ Choice of Dessert ~

Cheesecake, Sea Salt, Caramel
Chocolate Espresso Mousse
Mixed Berries & Whipped Cream
Crème Brulee

$36.00 not including tax or gratuity
Visit: www.mortons.com/atlanticcity

World Poker Tour Partners With FansUnite

Posted on October 24, 2018 by -

The World Poker Tour has taken a step into the cryptocurrency world announcing a new marketing partnership with Vancouver based start-up FansUnite.

FansUnite is an ethereum blockchain protocol that is “revolutionizing the sports betting world,” the company said in a press release. The platform is rooted in cryptocurrency, which the company says can be used security and smaller operator margins. FansUnite plans to run its sportsbook at margins of just one percent, the release said.

The company’s platform can also run daily fantasy sports contests and online poker as well as other applications that rely on sports/gaming data. The technology is currently in its alpha testing stages, with a public token sale anticipated later this year.

Advisors to the company include former NFL player Ryan Mundy, cryptocurrency pioneer Peter Kroll, and WPTDeepStacks founder Chris Torina.

The deal with the WPT is a marketing deal that includes social media promotion, on-site promotions in Europe and Asia and integration into European broadcasts, among other advertising initiatives, the release said.

 “We are thrilled to introduce FansUnite to the WPT’s millions of poker players and fans across the globe through television, digital media, live events, and more,” said WPT CEO Adam Pliska. “We look forward to furthering strategic partnership integrations and activations with FansUnite.”

The deal is designed to get the FansUnite Brand exposure before the site officially launches.

“Over the last two decades the World Poker Tour has been at the forefront of gaming entertainment. WPT’s worldwide reach, instant name recognition, hundreds of thousands of players and millions of fans make them the class of their industry,” said Darius Eghdami, CEO of FansUnite. “This partnership introduces FansUnite to millions of poker fans across the globe, and gives WPT partners the first look at our industry-changing technology.”

The company hopes for a full launch in early 2019, the release said.

Sweden Receives 55 Applications for Online Gambling Licenses

Posted on October 24, 2018 by -

Sweden’s opening up of its online gambling regulations has led to about 55 online betting sites applying for licensing in the country.

The country previously only allowed Svenska Spel to operate in Sweden, but is now allowing other companies to seek licensing under a new liberalized betting code adopted in June. Lotteriinspektionen, Sweden’s gaming regulator, opened applications for online gambling licenses in early August.

The regulator said it is reviewing more than 60 companies overall and 55 applications from online casino and sports betting operators, most of which are based outside the country. The regulator has also said that not all of the applications are complete and it has begun talking with affected companies to include missing information.

Regulators have said that the new gambling legislation’s primary focus is to install regulation, which protects gamblers betting in Sweden. Starting in January, anyone operating in Sweden must obtain an authorized license, which ensures they will protect players from excessive gambling, block underage gamblers and only offer bonuses to customers on their first gambling occasion.

Licensed operators will pay a tax of 18 percent of revenue made through Swedish gamblers.

PokerStars Offering Play’n Go Content in Italy

Posted on October 24, 2018 by -

PokerStars is now offering content from developer Play’n Go in Italy under a partnership agreement signed earlier this year.

PokerStars Italy will offer a full suite of games from Play’n Go.

“We will be supplying our full suite of games to their customers in the Italy, which fits with the original focus of the partnership – which was to expand the slots offering in regulated markets and facilitate a move into the Italian region in this quarter,” Play’n Go said in a press release. “We are already very known in the Italian market and have had a particularly strong presence over the last couple of years,” the company said.

The multi-year partnership between Play’n Go and PokerStars Casino was announced in June and sees the provider supply its full suite of games via a direct integration into the PokerStars Casino platform, with a key focus on expanding their slots offering in regulated markets, the release said.

PokerStars is also scheduled to launch Play’n Go games in Spain and Denmark.

Springfield Tourism Bureau Proposes Hotel Tax

Posted on October 24, 2018 by -

The Greater Springfield Convention & Visitors Bureau isn’t giving up its campaign to impose a new 1 percent assessment on hotel guests in the city of Springfield, Massachusetts, despite the fact that the tax died in a committee of the city council last week.

The tax would add 1 percent to the existing 5 percent tax on hotel room stays in seven hotels in Springfield which includes the just opened 252-room MGM Springfield casino hotel. The money raised would be earmarked for boosting tourism in the Greater Springfield area.

The opening of the MGM Springfield is generally believed to have bolstered the business of all of the area hotels.

The bureau estimates the tax would raise at least $250,000 annually.

The Bureau is also supporting a similar tax being proposed in the legislature. This proposal failed this year but will be introduced again in 2019. That legislation would allow cities to impose the tax only if a tourism destination marketing district is created.

Louisiana Parishes To Vote On Daily Fantasy Sports

Posted on October 24, 2018 by -

In Louisiana, an advocacy group called Fairness for Fantasy Sports claims it was created by residents to educate voters on the importance of taxing and regulating daily fantasy sports in the state. But financial disclosures indicated DFS operator FanDuel gave $154,000 to the group; the only other donation was $250 from the political consultant who manages it.

FanDuel is promoting DFS ahead of the November 6 election since referendums in every parish will determine if voters want to allow daily fantasy sports. The referendums are the result of House Bill 484, sponsored by state Rep. Kirk Talbot. It was one of three gaming bills passed during the latest legislative session and signed by Governor John Bel Edwards in May.

The measure would classify DFS as a game of skill, give oversight to the state gaming control board and allow contests based on professional and amateur events. It states, “If a majority of the qualified electors in the parish voting on the proposition vote for the proposition, then fantasy sports contests shall be permitted, subject to the enactment of licensing, regulation and taxation.”

As a result, DFS could become legal in some parts of Louisiana and not in others. If just one parish votes to legalize DFS, a new bill must be introduced in the legislature to determine tax rates, licensing fees and geofencing restrictions to make sure bettors are within parish limits.

Louisiana Gaming Control Board Chairman Ronnie Jones said geofencing will be the most complex issue regarding DFS. “There are 64 parishes in Louisiana. Say only a quarter of them vote yes on the referendum. Can you imagine how complicated that will be to carve out individual parishes? Nobody is talking about what it might cost to implement geofencing.”

Jones said he expects Talbot to introduce a companion bill next year to establish tax rates and additional fees.

Other gaming bills that passed in the last session include Senate Bill 316, which will allow Louisiana’s 15 riverboat casinos to move ashore; and Senate Bill 184, which will ease restrictions for truck stops that qualify for video poker machines.

Jones said sports betting will be a major issue in 2019, especially since neighboring Mississippi is the only state in the South with legal sports betting. “People in southeast Louisiana are headed to the coast every weekend,” Jones said.

On October 24, sports betting will be among the topics discussed at a Senate hearing.

FanDuel Opposes Florida Amendment

Posted on October 24, 2018 by -

Fantasy sports operator FanDuel is urging Florida voters to oppose Amendment 3, titled “Voter Control of Gambling in Florida.” The proposed constitutional amendment would “ensure that Florida voters shall have the exclusive right to decide whether to authorize casino gambling,” according to the ballot summary for the November 6 election.

FanDuel officials said Amendment 3 “pretends to give voters more power, but the reality is it makes it more difficult to protect your right to play fantasy sports.” Also the proposal would “make it impossible to bring sports betting to Florida. If Amendment 3 passes, the legislature will no longer have the power to authorize sports betting in Florida.”

John Sowinski, president of Voters In Charge, the political group promoting Amendment 3, said it “does not prohibit sports gambling. What it does is gives the final say on this and other casino gambling decisions to Florida voters. Likewise, it does not affect traditional fantasy sports pools.”

Sowinski recently spoke at a forum on the topic hosted by the Seminole County Regional Chamber of Commerce. “We don’t think casino licenses should be for sale to the highest bidder in Tallahassee. It should be an issue that’s decided by voters,” he said.

Also in attendance was Jamie Shelton, representing the Best Bet Jacksonville cardroom. “This is and should be a legislative matter and it should be dealt with by the people we elect to represent us in the state of Florida,” Shelton said.

Seminole County Regional Chamber of Commerce President and state Rep. Jason Brodeur noted tourism makes up a considerable portion of Florida’s revenue, so, as a lawmaker, he said he has to consider the state’s family-friendly image.

“If I believe that that equity is going to be jeopardized by changing the way we are viewed as a state that’s something I have to consider as a legislator. As an individual, I think the voters should be in charge,” Brodeur said.

The amendment has the backing of Disney Worldwide and the Seminole Tribe of Florida, who together have donated $36.3 million to Voters In Charge. According to September 28 filings with the state Division of Elections, Disney had contributed $19.6 million and the Seminole Tribe $16.7 million.

Two political action committees have been formed to oppose Amendment 3. Citizens for the Truth About Amendment 3 has raised more than $6 million and Vote NO on 3 has raised $981,832, according to the filings.

Citizens for the Truth About Amendment 3 received $500,000 from the Tampa Bay Buccaneers, $400,000 from Los Angeles-based Elevated LLC, $250,000 from the St. Petersburg Kennel Club and $145,000 from Cardroom Tech.

Vote NO on 3 received all of its funding from West Flagler Associates, the parent company of Miami’s Magic City Casino. The group’s chairman is Isadore “Izzy” Havenick, whose family operates Magic City and Naples-Fort Myers Greyhound Racing & Poker in Bonita Springs.

Both groups claim the wording of Amendment 3 is designed to fool voters. The Citizens for Truth About Amendment 3 website states, “On its face, the amendment ballot language appears to empower voters. However, what Amendment 3 really does is cost education funding hundreds and hundreds of millions of dollars. Because the referendum would be statewide, voters in one part of the state would decide whether a gaming facility can open somewhere else. This would benefit larger companies that have the resources to gather hundreds of thousands of signatures needed for a referendum.”

The PAC maintains the proposal would cost Florida schools $200 million in new tax revenue annually. In addition, the measure could remove some slot machines and designated player games, costing schools another $330 million in tax proceeds over the next 10 years.

Amendment 3 requires 60 percent voter approval to pass. However, a recent Florida Chamber of Commerce survey indicated it’s supported by 54 percent of voters, with 28 percent opposed. The issue could be determined by the 18 percent of voters who were undecided. The Chamber and the League of Women Voters support the amendment.