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Scientific Games Corporation Issues Statement on Liquidity and Cost-saving Measures

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Scientific Games Corporation has issued a statement on its liquidity and cost-saving measures. The company stated that it has a strong liquidity position and has already cut more than $100 million in quarterly costs.

The company has drawn approximately $480 million under its Revolving Credit Facilities to give it maximum flexibility during these difficult times. The Company believes that the proceeds from these borrowings, when combined with cash on hand (approximately $200 million), allow it to take advantage of opportunities to strengthen the business as the industry begins to recover.

“We continue to reduce our costs so that that we can position our Company to be an even stronger competitor as the industry begins to recover. We remain committed to providing our best in class products and services to our customers across lottery, iGaming, sports betting and land-based casinos while innovating for the future. The diversity of our business, serving customers across the industry and around the globe, gives us unique strength in these challenging times,” Barry Cottle, CEO of Scientific Games, said.

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SciPlay, in which the Company has an 82% shares, also has a strong liquidity position with cash on hand of approximately $130 million as of March 31, 2020, no outstanding debt and $150 million available under its Revolving Credit Facility.

The workforce cost reductions implemented by the Company, including hour and pay reductions, furloughs, and reductions in force, are expected to result in more than $50 million in cost savings in Q2, while capital expenditures in Q2 are expected to be approximately $50 million lower than previously planned. For 2020 as a whole, the Company now anticipates that capital expenditures will be in the range of $210–240 million.

The Company is planning additional cost-saving initiatives, including reductions in other operating expenses, that will lead to further potential savings.

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Gambling in the USA

Gaming Americas Weekly Roundup – July 1-7

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

Red Rake Gaming, a premium online casino content provider, has announced that it has obtained its provisional online casino supplier license in Michigan. This marks the company’s second license in the US, following the successful acquisition of its Pennsylvania license earlier this year. The new license in Michigan represents a significant milestone for Red Rake Gaming as it continues to expand its footprint in the burgeoning US online gaming market.

Super Group, the parent company of Betway, a leading online sports betting and gaming business, and Spin, the multi-brand online casino, announced that its Board of Directors has initiated a dividend programme and declared the first cash dividend on its ordinary shares of $0.10 per share. The dividend is payable on July 17, 2024, to shareholders of record as of the close of business on July 8, 2024.

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Churchill Downs Incorporated has announced that Michael Lilly has been promoted to President of TwinSpires Horse Racing, the leading provider of legal online horse betting sites and the official wagering partner of the Kentucky Derby. In this role, Lilly will be responsible for the overall strategy and operation of the TwinSpires Horse Racing business within CDI’s TwinSpires Segment.

The National Indian Gaming Commission (NIGC) released fiscal year 2023 Gross Gaming Revenue numbers totaling $41.9 billion, an increase of $1 billion, or 2.4%, from the historic FY 2022 GGR of $40.9 billion. Acting Chairwoman Sharon M. Avery and Vice Chair Jeannie Hovland made the announcement at the Wisconsin Gaming Regulators Association Summer Conference in Green Bay, Wis.

GAN Limited announced that it has received clearance from the Committee on Foreign Investment in the US (CFIUS) for the proposed merger of GAN and a subsidiary of SEGA SAMMY CREATION INC (SSC), an affiliate of SEGA SAMMY HOLDINGS INC.

Partnerships

The Chicago Blackhawks announced a multi-year partnership agreement with sports betting venture Circa Sports to be the official jersey patch sponsor for the Blackhawks home red jerseys. The home jersey patch will be worn beginning in the 2024-25 season, marking the first time a partner will be added to Blackhawks game jerseys.

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PENN Entertainment announced that it has expanded its partnership with Ticketmaster to offer exciting new benefits for its more than 30 million loyalty members. PENN Play members can now redeem rewards for tickets to live events through Ticketmaster. Additionally, PENN will have on-site activations at five amphitheaters across the US, further enhancing the live event experience for PENN Play members.

Aristocrat Interactive, Aristocrat’s new online Real Money Gaming division, and Hard Rock Digital announced the arrival of Aristocrat Interactive Content & Aggregation’s extensive suite of gaming content to HRD’s Hard Rock Bet online casino in New Jersey. Players of the Hard Rock Bet platform can now enjoy an impressive collection of Aristocrat Interactive’s most popular games within the state, whenever they seek entertainment.

Evolution announced that it has gone live with its online live casino offering for players in Delaware’s regulated gaming market, in partnership with Rush Street Interactive, a leading US-based iGaming company that operates the BetRivers brand.

The post Gaming Americas Weekly Roundup – July 1-7 appeared first on European Gaming Industry News.

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Caesars Digital

EVERI DIGITAL AND CAESARS DIGITAL LAUNCH CAESARS-BRANDED SLOT “CAESARS EMPERORS GOLD”

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Everi Digital, the online gaming business of Everi Holdings Inc., a premier provider of land-based and digital casino gaming content and products, financial technology, player loyalty solutions, and bingo, announced the launch of the custom-branded online game “Caesars Emperors Gold” on the newly-upgraded Caesars Palace Online Casino platform via a direct integration with Caesars Digital.

Now available to online players in Michigan, New Jersey, Pennsylvania, West Virginia, and Ontario, “Caesars Emperors Gold” is the second title Everi has developed specifically for Caesars Palace Online Casino and is a standard, five-reel video theme with mystery jackpots. The branded game also features iconic Caesars branding with Roman-esque statues for the reel array housing and the high paying symbols.

Everi has provided iGaming content to Caesars Digital for more than four years, and this launch is an extension of the companies’ ongoing collaboration. Everi Digital’s compelling game catalog now consists of more than 70 distinct titles with a footprint spanning North America and Europe. This portfolio of iGaming content is housed and delivered via Everi’s proprietary Spark™ Remote Game Server.

“This rewarding custom game launch with Caesars Digital deepens our strategy with a top-tier iGaming operator and brings Caesars online players in North America a new title with thrilling progressive jackpot opportunities,” said Jordan Brent, Everi Vice President, Digital Commercialization. “With the launch of the ‘Caesars Emperors Gold’ custom slot, it’s clear both Everi and Caesars are committed to providing unique experiences to engage online players.”

“Expanding our custom game catalog with Everi offers us another chance to captivate our online casino players with exclusive one-of-a-kind content and progressive jackpot opportunities that we know are in high demand with players,” said Ricardo Cornejo Rivas, Vice President of Online Gaming at Caesars Digital. “Everi’s games have already proven to be favorites at our various destinations and across our online casino platforms. The launch of ‘Caesars Emperors Gold’ should deliver a distinctive and enhanced online casino experience that will undoubtedly thrill our players.”

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Adrian Bailey

Top Performing Aristocrat Interactive Titles Now Live on Hard Rock Bet in New Jersey

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Aristocrat Interactive, Aristocrat’s new online Real Money Gaming division, and Hard Rock Digital announced the arrival of Aristocrat Interactive Content & Aggregation’s extensive suite of gaming content to HRD’s Hard Rock Bet online casino in New Jersey. Players of the Hard Rock Bet platform can now enjoy an impressive collection of Aristocrat Interactive’s most popular games within the state, whenever they seek entertainment.

Titles that will be available on Hard Rock Bet include Buffalo, Timberwolf, Wild Wild Emerald, Firelight II, Winfall Wishes, Wild Lepre’Coins, Twilight Forest, Frog of Riches, and Secrets of the Phoenix Elements. Currently available in New Jersey, Aristocrat Interactive and Hard Rock Digital look forward to launching Aristocrat Interactive gaming content together in additional states and markets in the future.

“Collaborating with Hard Rock Digital to offer our gaming content to their players via Fusion Aggregation platform is truly exciting. This relationship marks the beginning of bringing some of the most engaging gaming experiences on the market to the players of Hard Rock Bet,” Adrian Bailey, Managing Director of Aristocrat Interactive Content & Aggregation, said.

“The addition of these popular Aristocrat Interactive games to Hard Rock Bet is yet another way that we’re entertaining our players like no one else can. Since launching Hard Rock Bet in New Jersey, we’ve increased our casino offerings by nearly 1000 games and are excited to continue adding unique gaming experiences to our top-rated platform,” Grant Williams, Hard Rock Digital’s SVP of Casino, said.

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