Gambling in the USA
Gaming Americas Weekly Roundup – November 30-December 6
Welcome to our weekly roundup of American gambling news again! It was again an eventful week in the USA, despite the still-active virus attack.
Here, we are going through the weekly highlights of the American gambling industry which include the latest news, new partnerships and new appointments. Read on and get updated.
Latest News
888 Holdings has announced new market access deals in Indiana, Iowa and Colorado. Its presence in each of these states will initially be through the 888Sport brand in 2021. In Colorado, 888Sport will launch under the license of the Colorado Grande Casino based in Cripple Creek. In Iowa, the Group will launch under the license of Catfish Bend Casinos II LLC. In Indiana, the Group has signed an agreement with Harrah’s Hoosier Park, which is owned by Caesars Entertainment, to launch 888Sport in the state.
The Morongo Casino, Resort and Spa is going to launch cashless wagering in California. The casino has entered into a partnership with Marker Trax to introduce cashless wagering markers to its floor. Marker Trax will run through the Konami Synkros casino management system and will allow Morongo guests to conveniently and securely apply, get approved and begin using their digital marker. Rather than retrieving physical cash for a casino marker, guests enrolled in a PIN-protected Synkros cashless wagering account can use their Marker Trax credit line to play electronically on any slot or video poker machine in the casino.
Online gambling could launch in Michigan by the end of the year after the Legislature’s Joint Committee on Administrative Rules voted to waive a 15-day waiting period to approve regulations. The vote means the Michigan Gaming Control Board (MGCB) will be able to officially file the final draft of online betting regulations to the department of state. The next step in the legalisation process will be for the MGCB to receive license applications from casinos along with their vendors and suppliers. It will review applications and approve those that meet requirements.
New Partnerships
Scientific Games Corporation has partnered with Genius Sports Group to provide in-game content to its wagering customers worldwide, excluding US leagues. Sportsbooks operating on Scientific Games’ OpenSportsTM platform will gain access to Genius Sports Group’s LiveData and LiveTrading services. Genius Sports Group’s entire portfolio of official data rights is included in the agreement, featuring content such as the English Premier League, NASCAR, Serie A and German Bundesliga, as well as dozens of FIBA basketball and FIVB volleyball leagues.
DraftKings Inc. has become the exclusive Official Daily Fantasy Sports Partner, as well as an Official Sports Betting and iGaming Partner, of the Detroit Pistons. In addition to access to Pistons’ trademarks and logos, the deal includes DraftKings-branded courtside LED signage and in-game basket pad branding. The agreement comes as DraftKings prepares to launch mobile sports betting and online gaming in the state of Michigan, pending licensure and the receipt of necessary regulatory approvals.
New Appointment
Colombian regulator Coljuegos has appointed Cesar Augusto Valencia Galiano as its new president. The appointment will see Valencia Galiano replace Juan Pérez Hidalgo, who resigned from the role last week following a tenure that saw the launch of regulated igaming in the country. Valencia Galiano will join the regulator after 40 years with Smurfit Kappa, which specialises in the production of corrugated cardboard and paper packaging. During his time with Smurfit Kappa, Galiano served in a number of senior roles, most recently as vice president for Central America and the Caribbean. He also served as president of the Association of Corrugators of the Caribbean, Central and South America.
Compliance Updates
Gaming CEOs Optimistic on Industry Outlook, Report Evolving Industry Challenges
Amidst an evolving economic landscape, gaming executives report a positive outlook on future industry business conditions while remaining satisfied with the current business environment, according to the American Gaming Association’s (AGA) Gaming Industry Outlook.
Nearly all gaming executives surveyed characterized the current business environment as good (44%) or satisfactory (50%), mirroring similar sentiment from Q3 2023. Meanwhile, executives are more optimistic about future conditions, with 32 percent of CEOs expecting business conditions to improve over the next six months, up from 20 percent in Q3 2023.
“Gaming’s record-setting growth over the last three years has set a new standard for industry success,” said AGA President and CEO Bill Miller. “However, as we enter a period of market normalization, continued investment and innovation in offering world-class, responsible entertainment experiences will be required to maintain industry momentum.”
Gaming Executive Panel
Gaming executives have become more positive in their views that overall balance sheet health will improve over the next 6 months (42% net positive), but they expect the pace of revenue growth (13% net negative) and new hiring (22% net negative) to slow. These expectations for decelerating growth have influenced expectations for increases in capital investment and gaming units in operation, with smaller net positive sentiments than before.
- In contrast to past Outlooks, gaming equipment suppliers are slightly pessimistic about the sale of gaming units for replacement use and new or expansion use (both 13% net negative). However, they remain optimistic about the pace of capital investment (38% net positive).
- Half of operator CEOs expect capital investments in hotels over the next year to be higher than normal, and compared to last fall, more also expect higher than normal levels of capital investment in meetings and conventions and table games (28%). Meanwhile, 44 percent of CEOs expect increases in food and beverage investment, down from 67 percent in Q3 2023.
These expectations are also informed by evolving macroeconomic challenges. Executives report that inflationary or interest rate concerns continue to be a major factor limiting operations (28%), but these have been overtaken by geo-political risk (34%) and uncertainty of the economic environment (34%) as the biggest limiting factors in the most recent Gaming Executive Panel.
Current Conditions Index
The Current Conditions Index of 102.8 for Q1 indicates solid annualized real economic growth in the industry of 2.8%. This includes gaming revenue, employment and employee wages and salaries. Notably, the Current Conditions Index shows gaming expanding faster than the overall U.S. economy which last week reported 1.6 percent GDP growth in Q1 2024.
Future Conditions Index
The Future Conditions Index stands at 102.2, indicating annualized industry economic activity, after controlling for underlying inflation, is expected to moderately increase over the next six months. This outlook reflects Oxford Economics’ forecast that the U.S. economy will slow during 2024 but avoid recession. Despite a projected economic slowdown, consumer survey results continue to indicate that more than one-third of adults expect to visit a casino during the next 12 months, consistent with prior quarter results.
About the Outlook
The AGA Gaming Industry Outlook is prepared biannually by Oxford Economics. It provides a timely measure of recent industry growth and future expectations. The Q1 2024 survey was conducted between March 28 – April 10, 2024. A total of 32 executives responded, including executives at the major international and domestic gaming companies, tribal gaming operators, single-unit casino operators, major gaming equipment suppliers, and major iGaming and/or sports betting operators.
Chris Schroder
Colorado Launches Illegal Gambling Awareness Campaign
The Colorado Division of Gambling has launched a new illegal gambling awareness campaign.
The “Play Legit. Gamble Only Where Legal.” campaign aims to educate the public about the risks associated with illegal gambling and the importance of supporting regulated gaming venues.
The campaign emphasizes legal gambling options, including casinos in Black Hawk, Central City, and Cripple Creek, as well as online sports betting and off-track betting.
“With many certified and legal gambling sites available, it’s never worth it to put yourself in danger. Together, let’s play by the rules and ensure that Colorado remains a safe and responsible gaming destination. By recognizing and preventing illegal gambling, we all win,” Chris Schroder, Director of the Colorado Division of Gaming, said.
In Colorado, gambling opportunities abound, but not all are legal. Illegal gambling operations not only fail to protect players but can also serve as a breeding ground for serious crimes, including fraud, human trafficking, drug trafficking, and burglary, posing a threat to public safety and community well-being. Participants in illegal gambling activities also compromise personal and financial information, putting individuals at risk of identity theft, unreliable payouts, and potential legal consequences, such as fines and imprisonment.
Gambling in the USA
Gaming Americas Weekly Roundup – April 22-28
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
The International Association of Gaming Advisors (IAGA) will hold its 41st International Gaming Summit Monday, May 27 through Thursday, May 30, 2024 at The Ritz-Carlton Washington, D.C. As a premier event that brings together leaders from all global gaming sectors, the Summit will provide operators, suppliers, attorneys, investors, bankers, regulators and other advisor delegates with an unparalleled opportunity to meet and discuss the most important issues facing gaming.
Marker Trax, a leader in cashless payment solutions for the gambling industry, has announced the appointment of John Henderson as its SVP of operations. Henderson is a seasoned, energetic industry veteran who brings to Marker Trax more than four decades of success in delivering technology-based business solutions, leading innovation-forward companies seeking to increase their industry footprints and to solidify their market shares.
Jackpot Digital, a leading manufacturer of electronic multiplayer dealerless poker tables, announced that it has successfully completed the installation of its Jackpot Blitz casino machines at Chukchansi Gold Resort & Casino, located in Coarsegold, California.
Affinity Interactive has announced the appointment of Scott Butera as President & Chief Executive Officer, effective immediately. Mr. Butera, who most recently led AI’s Sports Information Group (SIG) business, brings over 30 years of experience in gaming, hospitality, media, entertainment and sports to the pivotal role. In his new capacity, Mr. Butera will set strategy and oversee operations of the Company’s diversified portfolio of casinos resorts across Nevada, Missouri and Iowa.
North Star Network has acquired Um Dois Esportes, a sports coverage and analysis site created from the merger of Gazeta Do Povo and Tribuna do Paraná in 2020. NSN’s signing of Um Dois Esportes is the media house’s fourth acquisition of 2024, following the recent deals to purchase UK-based SportsMole and MrFixitsTips, as well as Chilean site AlAireLibre, which was announced in March.
Hollywood Casino at Greektown unveiled its new ESPN BET branded sportsbook and restaurant on the upper floor of the 100,000-square-foot Downtown Detroit casino. This sportsbook is the first ESPN BET branded retail location to open across PENN Entertainment’s (PENN) portfolio of properties.
Partnerships
Above the Felt, the leading poker and gaming marketing and talent agency, has announced a partnership with Potawatomi Casino Hotel in Milwaukee, Wisconsin for the grand opening of their state-of-the-art poker room this May. This collaboration marks a significant experiential poker event in the Mid-West US, bringing together top players, personalities and content creators with regional players for an unforgettable poker room grand opening.
SCCG Management, a leading advisory firm in the global gaming industry, has announced a strategic partnership with Comm100, a pioneer in AI-powered omnichannel communication. This collaboration signifies a pivotal moment in the gaming industry as it looks to revolutionise player engagement and customer support through personalised, 24/7 communication.
Betano and CBF (Confederação Brasileira de Futebol), the Brazilian Football Confederation, announced a new partnership that will see Betano become the new main sponsor and exclusive betting partner of Campeonato Brasileiro Série A. Starting from the 2024 season, which began on Sunday, April 14, the competition will be known as Brasileirão Betano.
The post Gaming Americas Weekly Roundup – April 22-28 appeared first on European Gaming Industry News.
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