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The man who revitalised Fremont Street
November 28, 2022

The man who revitalised Fremont Street

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Downtown Las Vegas was once associated with Sin City’s Rat Pack era, but the Fremont Street experience is – quite literally – very different today. Enter Circa Sports’ Derek Stevens, an industry outsider who is playing a huge role revitalising the area by bringing a brand new casino and sports betting experience.

Derek Stevens of Circa Sports is a gambling industry outsider. He built up a successful auto parts business in his native Michigan before moving into the casino business, purchasing the Golden Gate in 2008. He’s honest about what attracted him to the city.

“The key thing that brought me to Vegas was the fact there’s no income tax in the state of Nevada,” he says, bluntly. “I run an investment portfolio, so that was helpful.”

Derek Stevens poses next to Vegas Vickie, an iconic symbol of ‘Old Vegas’

“But,” he adds, “I’m more of an operator.” He’s also someone who likes a challenge, acquiring a casino on the cusp of the Great Recession. Stevens “really fell in love with downt..

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GiG: Media rules supreme, but platform potential grows
May 11, 2022

GiG: Media rules supreme, but platform potential grows

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Another record peak for Gaming Innovation Group’s (GiG) media division was the highlight of the supplier’s first quarter results, but the platform arm is poised for a potentially transformational year.

Gaming Innovation Group reported revenue of €19.1m for the three months to 31 March, representing its second consecutive record-breaking quarter.

Key to this was the ongoing performance of its media arm, which reported a 40.0% year-on-year jump in revenue to €14.1m for the first quarter of the year. The affiliate business, chief executive Richard Brown explains, took a massive leap forward with player intake hitting a record 69,800 for Q1, and intake from its paid campaigns up 160% year-over-year.

“We’ve been launching quietly in a number of markets,” he explains. “Over 12 to 18 months, we launch, analyse and optimise. Once we’ve managed to ascertain the optimum return on investment we ramp up marketing spend.”

Richard Brown, GiG CEO

While there has been a marginal decline in pla..

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Churchill Downs revenue hits record $364.1m in Q1
April 28, 2022

Churchill Downs revenue hits record $364.1m in Q1

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Churchill Downs Incorporated (CDI) has opened 2021 with a record-breaking performance over the three months to 31 March.

Group revenue for the first quarter of 2022 increased 12.3% year-on-year to $364.1m (£290.4m/€345.9m), a new record for the business.

Gaming was the top performer over Q1 with revenue of $179.2m, up 16.4% year-on-year, aided by capacity restrictions at its Oxford Casino Hotel in Maine, Flordia’s Calder Casino and Presque Isle in Pennsylvania.

The gaming division is set to expand further through the acquisition of Peninsula Pacific Entertainment, which adds properties in New York, Virginia and Iowa to CDI’s portfolio.

The operator’s advance deposit wagering business Twinspires followed with revenue of $101.4m, down marginally year-on-year, after a decline in horse racing revenue was partially offset by growth from its sport and casino business. That operation is being wound down, however.

CDI’s live and historical horse racing business reported a 34.8% jump in r..

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IGT expands in Washington state with Kalispel Tribe deal
February 18, 2022

IGT expands in Washington state with Kalispel Tribe deal

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International Game Technology (IGT) has signed a multi-year agreement with the Kalispel Tribe of Indians which will see the company expand its sports betting offering to Washington state.

Under the terms of the deal, the Tribe’s Kalispel Casino will use IGT’s technology to power a retail sportsbook, which is due to open at a later date.

IGT first entered the Washington sports betting market in July 2021 via its partnership with Snoqualmie Casino. The company went on to reach a similar agreement with the Stillaguamish Tribe of Indians and their Angel of the Winds Casino Resort in September.

IGT’s president of sports betting Joe Asher said: “IGT is pleased to build on our sports betting momentum in Washington State and bolster our long-standing partnership with the Kalispel Tribe of Indians by powering sports betting at Kalispel Casino.

“We look forward to bringing a great sports betting experience to the Kalispel Casino so that our long-time partner can further engage its customer..

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Iowa sports betting handle doubles year-on-year in January
February 11, 2022

Iowa sports betting handle doubles year-on-year in January

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Bettors in Iowa staked $303.3m in the first month of 2022, meaning handle more than doubled year-on-year.

Amounts wagered for January was up 102.9% from January 2021’s $149.5m total figures from the Iowa Racing and Gaming Commission show.

This was driven entirely by mobile betting, with customers staking $275.9m during the month, a 128.4% jump.

Retail, on the other hand, actually declined from January 2021, with stakes down 4.5% to $27.5m.

Caesars led the way in terms of handle, with customers staking $112.7m through its mobile sportsbook, setting it ahead of DraftKings which reported $68.9m in mobile stakes, and FanDuel on $44.1m.

For retail, it was the FanDuel sportsbook at the Diamond Jo Worth Casino that led the way, with $8.7m staked. Penn National’s Ameristar II in Council Bluffs followed with customers wagering $5.4m at its Barstool Sportsbook, and the Caesars Sportsbook at Horseshoe Casino Council Bluffs on $3.9m.

From the statewide handle of $303.3m across all chan..

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