Connect with us

News

Horseshoe Casino’s recovery continues for second straight month

Published

on

Horseshoe Casino’s recovery continues for second straight monthReading Time: 2 minutes

Horseshoe Casino, the Baltimore-based casino operator, has bucked the trend of the dipping revenue for the second month in a row. According to the latest monthly report from Maryland Lottery and Gaming, Horseshoe Casino posted a revenue of $22.8 million from slots and tables in June, a 3.3 per cent jump from the same month last year.

In May also, the revenue rose by 2 per cent when compared to that of the last year.

These modest upticks have broken a 16-month spell – December 2016 through April 2018 – in which the casino’s revenue fell by 13 per cent on average. Horseshoe has suffered in the shadow of the higher-end MGM National Harbor, self-branded as “Vegas on the Potomac,” which opened in late 2016.

MGM – which drew upwards of $59 million in revenue in June, just for perspective – has pushed the state’s gambling proceeds to new heights. In May, Maryland’s six casinos brought in a record $156.6 million. Last month’s statewide mark of $130.5 million didn’t quite approach that degree of success, but it was still a 14 percent increase from a year before.

Horsehoe’s June revenue bump was actually the smallest among the state’s casinos. Live! Casino and Hotel in Arundel Mills saw its proceeds climb 15 per cent from June 2017. Hollywood Casino Perryville’s revenue rose 4.5 per cent, and Rocky Gap Casino in Cumberland saw an increase of 5 per cent. Ocean Downs Casino in Berlin is reaping rewards from adding table games last December; earnings rose nearly 30 per cent in June.

In an emailed statement, Maryland Lottery and Gaming Director Gordon Medenica said the recent revenue increases for casinos other than MGM are “a good sign.”

“We’re seeing the stabilization of the market share changes that occurred after MGM’s opening a year and a half ago,” Medenica said. “The six casinos are now finding their niche in the marketplace as they continue to grow and maintain their customer base.”

Caesars Entertainment Corp., which owns part of Horseshoe Casino Baltimore, has not responded to a request for comment.

Horseshoe’s success is arguably all for the better if that money makes it to the schools. Under state law, 15 per cent of all table game revenues go to the state’s Education Trust Fund, and 5 per cent go to local jurisdictions. For Horseshoe, that meant nearly $1.5 million of June proceeds from table games went to education, and $486,000 went to local jurisdictions.

 

Source: baltimorefishbowl.com


Source: European Gaming Media Latest News

News

Integration of EGT Global Jackpot with Winbet and Club King Marks Great Success

Published

on

Integration of EGT Global Jackpot with Winbet and Club King Marks Great SuccessReading Time: 1 minute

 

The EGT Global Jackpot’s integration with Winbet and Club King has achieved success through offering entertainment and winnings for both operators and players.

The operators’ success and players’ entertainment are always the core objectives of EGT sales, development and production teams. When innovation joins these approaches, EGT solutions are the reliable choices for winning businesses.

EGT supports the operators to make proposals to its customers they couldn’t refuse, with the integration of the EGT Global Jackpot into their gaming halls. Global Jackpot is developed to connect all slot machines and any type of roulette from all locations of operators across the country. Thus, the total bet generates the possibility of higher winnings compared to those offered by the local jackpots.

At Winbet, the Global Jackpot has been functional since March this year and has brought multiple winnings to the luckiest players. Recently, Club King has also integrated the Global Jackpot in favour of top entertainment and winnings for both operators and players.


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Integration of EGT Global Jackpot with Winbet and Club King Marks Great Success

Continue Reading

News

New York State Lottery Reports Record Revenues for the 2018 Fiscal Year

Published

on

New York State Lottery Reports Record Revenues for the 2018 Fiscal YearReading Time: 1 minute

 

The New York Lottery has recorded $8.2 billion in sales for the state fiscal year that ended in March 31, 2019. That includes sales from Powerball, Jackpot, Mega Millions, Scratch Off, Quick Draw and other games, plus revenues generated by the state’s licensed video lottery locations.

The video lottery net win for the 2018-2019 fiscal year was $2.08 billion, third largest in the world behind two Italian lottery operators. The combined sales and net win earnings for the last fiscal year are a new record for the New York Lottery. The New York Lottery generated $3.47 billion in aid designated to support the state’s schools.

The lottery revenues are distributed to school districts according to the same formula used for state aid. A larger, poorer district will receive a higher percentage than a smaller, more affluent one. Lottery contributions account for 13% of all state aid to education for 2018-2019.


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: New York State Lottery Reports Record Revenues for the 2018 Fiscal Year

Continue Reading

News

Spillemyndigheden Introduces Whistleblower Scheme

Published

on

Spillemyndigheden Introduces Whistleblower SchemeReading Time: 1 minute

 

Spillemyndigheden, the Danish industry regulator, has launched a new whistleblower scheme for the employees of gambling operators who wish to report evidence of money laundering.

Spillemyndigheden has detailed that employees can report a company’s violation or potential violation of the anti-money laundering legislation to the regulator via a dedicated, anonymous contact form which will then trigger a legal investigation. All submissions will be encrypted to ensure that submissions are secure.

In April, Spillemyndigheden has blocked access to 25 gambling websites after petitioning the country’s telecommunications providers. Danish internet providers have now been obliged to block access to ten igaming sites, in addition to 15 skin betting websites.


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Spillemyndigheden Introduces Whistleblower Scheme

Continue Reading

Trending

%d bloggers like this: