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MGM Growth buys Hard Rock Rocksino

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MGM Growth Properties has acquired of Cleveland’s Hard Rock Rocksino Northfield in a $1.06 billion deal.

As part of the deal, MGM Growth will inherit a 200,000-square foot casino with 2200 video lottery slot machines, along with the Northfield Park harness racetrack, from previous owner Milstein Entertainment. The REIT, an MGM Resorts spin-off, is also in the process of finalizing the acquisition of the famous Yonkers Raceway and its accompanying Empire City Casino.

MGM Growth was formed in 2016 and launched and its IPO on the New York Stock Exchange shortly afterward, raising $1.2 billion. It is 70 per cent owned by MGM Resorts International.

A real-estate investment trust (REIT) is essentially an investment vehicle formed to acquire and own properties, offering investors both large and small the chance to own shares of high-value commercial real estate.

REITs receive special tax considerations and can trade at higher stock market prices, potentially offering investors high returns.

On its formation, MGM Growth took over ten MGM Resort properties, including Mandalay Bay, The Mirage, New York-New York, Luxor, and Excalibur, which it leases back to MGM Resorts to operate.

The Hard Rock Rocksino Northfield Park will be rented to its majority owner for $50 to $60 million a year, the company has said.

The REIT model makes sense for large casino operators managing dozens of properties as a means to raise funds which can then be spent on further acquisitions.

Penn National started the ball rolling in 2013, and has since been joined by MGM and Caesars Entertainment, which created VICI Properties last year, as a way of easing its passage out of Chapter 11 bankruptcy.

MGM Growth CEO James Stewart said in an official statement on Friday he was “excited” about the first official addition to the REIT’s portfolio, which he added would bring “further geographic diversification” to the MGM brand.

“[A REIT] improves the balance sheet of MGM Resorts, it provides another growth vehicle for the company and it will…provide a different investment opportunity, as [Growth Properties] goes out and can acquire assets,” MGM Resorts CEO Jim Murren further explained about the spin-off.

Known as the “The Home of the Flying Turns” and for its motto “Every nineteen minutes the place goes crazy,” Northfield Park is the venue for the Battle for Lake Eerie, which has grown from its 1980s inception to become one of the premier events on the Free-For-All pacing calendar.

It also operates Cedar Downs, the only off-track betting parlour in Ohio.

 

Source: casino.org


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Google to Help Russia Block Online Gaming Sites

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As a country, Russia has some of the strictest guidelines in the world for the regulation of access to online casino sites. Any online gambling sites that are unwilling to comply with the licensing regulations set forth by the Russian government will not be given access to Russian players. Currently, major sites like 888, Bet365, Betfair, Betfred, Ladbrokes, Unibet and William Hill are all blocked.

To enforce its policies, the Russian government has enlisted the services of telecom watchdog Roskomnadzor. As part of that company’s strategy to keep unwanted online casino operators from having access to Russian players, the company is continually putting pressure on worldwide search engine Google to use its filters to block said sites from being listed within Russia’s domain. To date, Roskomnadzor has blocked as many as 14,500 sites without any assistance from the search engine giant. Many of these sites are currently listed at www.choicecasinos.com.

In what industry experts call a surprise move, Google has finally relented and decided to help the Russian regulator do its job of blocking unlicensed websites from popping up on any search results related to online gambling. The move came after Google was assessed a $7,500 fine for not complying with prior requests for help. It’s interesting to note the size of this fine is well below the maximum amount that could have been assessed based on Russian guidelines.

This surprise move comes outside the scope of the normal mode of operation for Google. The company has always been far more likely to refuse to pay said fines and instead, seek relief from the appropriate court system. While the size of this fine might seem irrelevant to a company Google’s size and stature, it’s the cowering to foreign governments that have always spurred Google to fight back. Then again, Google may have decided to comply at this time because of recent threats by the Russian government to assess fines of up to 1% of annual gross revenues on tech giants who ignore its ruling. In Google’s case, that amount would have been around $6.4 million, based on its earnings in Russia in 2017 and probably high in 2018.

When asked why he felt Google agreed without pushback, Doskomnadzor’s deputy chief Vadim Subbotin stated, “If we come to a dead end … the state makes changes to the law, and for the non-execution of Russian laws the most severe punishment is possible – such as blocking.” It would be unfathomable to think that a company with Google’s stature would be blocked from operating in any industrial country.

Going forward, Russia’s federal state information system (FGIS) will be charged with making sure Google does as requested and blocks any unwanted online gambling sites from appearing. The FGIS provides a database of all known gambling sites that can be automatically cross-referenced to anything that might show up in relevant search results.

There is a possibility this could set precedent. It will be interesting to see if other countries might try to use similar tactics to try to strong-arm Google into blocking various search results as requested.


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Google to Help Russia Block Online Gaming Sites

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Big Win at Svenbet on Wazdan’s Great Book of Magic Deluxe

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Last week one lucky player secured €90,775.02 in total winnings following a streak of wins playing Wazdan’s Great Book of Magic Deluxe at Svenbet’s online casino.

Svenbet offers a diverse portfolio of casino and live casino games, virtual sports betting, skilled games and pool betting. They cherry-pick only the best gaming providers to bring players a selection of seamless online and mobile experiences.

In what was sure to have been a thrilling day for the fortunate customer on the Svenbet site, there was not just one big win, but a variety of smaller wins that made up the final pot. Nail biting highlights of the triumphs included a €26,125 win during the bonus game with one bet of €100, not one but two €25,000 wins with bets of €100, a €23,500 win during the bonus game with one bet of €100, and a €19,825 win during the bonus game with one bet of €100.

Taking advantage of Unique Wazdan Features, the player opted to spin the reels in Ultra Fast Mode and change the Volatility Levels™ throughout the gameplay. Wins were hit on both Standard and High Volatility Levels™, with the player taking home a massive €90,775.02 at the end of the day.

The game in the spotlight, Great Book of Magic Deluxe slot is a Wazdan favourite featuring five reels, 20 pay-lines and a variety of special symbols, including Free-Spins-awarding Scatters and Expanding Bonus Symbols. In addition to the Unique Wazdan Features of Ultra Fast Mode and Volatility Levels™ that were used in the player’s recent win, Great Book of Magic Deluxe also offers the Unique Wazdan Features of, Double Screen Mode, Unique Gamble Feature and Energy Saving Mode.

Regarding the momentous win, Head of Sales at Wazdan, Andrzej Hyla, says: “We are beyond thrilled to see a player win such a significant amount playing one of our beloved games, Great Book of Magic Deluxe. This game is a favourite among both players and operators, and we are really happy to see that the player’s dedication to spinning on Great Book of Magic Deluxe played off generously for them. As we have been expanding significantly of late, we look forward to more games being played and announcing even more of these exciting wins in the future.”

For further information visit www.wazdan.com

 

ABOUT WAZDAN:
Wazdan is a popular game producer, developing innovative casino games that deliver an original, fun and truly omni-channel player experience. Offering an extensive game library of over 105 HLML5 slots, table games and video poker games, Wazdan is gaining popularity in the iGaming market thanks to the great quality of their games, interesting themes and engaging gameplay. Wazdan’s game portfolio consists of popular titles Great Book of Magic Deluxe, Magic Target Deluxe, Valhalla and Wild Guns as well as amazing new slot games including Los Muertos™, Mayan Ritual™ and Captain Flynt™ amongst others. Wazdan releases new, exciting titles on a regular basis and equips them with Unique Wazdan Features: innovative Volatility Level™, exciting Unique Gamble Feature and mobile-friendly Energy Saving and Double Screen Modes. Wazdan holds a number of European trademarks including a trademark for their world’s-first Volatility Level™. Their extensive portfolio of clients includes some of the top gaming operations in the industry. The company is headquartered in Malta and holds licenses issued by the UKGC, the MGA and complies with Curacao regulations. Furthermore, their games use the RNG certified by the NMi, which ensures reliable, fair and secure gameplay. Wazdan’s Sales team is showcasing their products at ICE in London from 5-7 February 2019 on stand S8 202.


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Big Win at Svenbet on Wazdan’s Great Book of Magic Deluxe

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AskGamblers Awards 2019 Winners Have Been Announced

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After more than 3 months of the voting phase, AskGamblers Awards 2019 finally have their winners! The AskGamblers Awards 2019 ceremony took place on the 17th of January 2019, in Hyatt Regency in Belgrade.

 

The AskGamblers Awards 2019 winners have been announced at the crowning gala event, that took place yesterday, January 17th, 2019, in Hyatt Recency hotel in Belgrade, Serbia. AffiliateINSIDER was the AskGamblers’ official media partner and the ceremony was attended by the AskGamblers Awards team members, the finalists, and the key stakeholders from Catena Media office, from Malta.

There were 10 final contenders in each of the categories: Best Casino, Best New Casino, Player’s Choice, Best Partner, as well as the Best Slot released in the year 2018. Altogether, there were 8 software suppliers nominated in the Best Game Provider category. Now, without a further ado, here’s an entire list of the AskGamblers Awards 2019 Winners:

• Best New Casino: Campeonbet Casino

• Best Casino: Betsson Casino

• Player’s Choice: BitStarz Casino

• Best Partner: 7Stars Partners

• Best Slot: Legacy of Egypt by Play’n GO

• Best Game Provider: NetEnt

Denis Ristic, AskGamblers Product Owner, shared the excitement: “We are very proud that the AskGamblers Awards event is getting bigger and better. It’s only the second year and we are already noticing that the Awards have made an impact on our regular users, while reaching new players and creating a real buzz in the world of online casinos.

The event itself is a great opportunity for us to meet with our dear colleagues and partners from the iGaming industry sector and we look forward to seeing how the AskGamblers Awards will progress in the future. Once again, we would like to congratulate all the winners and thank all the players who took the time to vote and help us single out the best candidates!”

To find out more about the AskGamblers Awards 2019 ceremony and the winners, feel free to visit the AskGamblres Awards website anytime.

 

About AskGamblers:

AskGamblers, officially the Best Casino Website in 2016 and 2017, provides the most trusted, unbiased online casino, slot, and bonus reviews. It also features real player opinions and ratings highly valuable in the iGaming community. Thanks to its unique Casino Complaint Service, over $20 million has been returned to players thus far. Get the truth, then play!


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: AskGamblers Awards 2019 Winners Have Been Announced

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