Tag Archives: casino

Caesars Sportsbook opens at Downtown Grand Hotel & Casino

Caesars Sportsbook opens at Downtown Grand Hotel & Casino

A new Caesars Sportsbook has launched at Downtown Grand Hotel & Casino in Las Vegas, Nevada.

The new venue marks the first Caesars Sportsbook location in downtown Las Vegas.

The sportsbook offers three betting windows, a number of self-service betting kiosks, an LED TV viewing wall and several odds boards.

Downtown Grand celebrated the opening of the sportsbook with a ribbon cutting ceremony and an appearance by author and professional gambler Anthony Curits.

“We’re known for delivering elevated hotel experiences and the new Caesars Sportsbook is no exception,” said Andrew Economon, general manager of Downtown Grand Hotel & Casino.

“We know our guests will enjoy the exceptional offerings of this all-new sports betting venue.”

Last week, Caesars Entertainment entered into a sports betting partnership with Raynham Park in Massachusetts.

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Inspired Entertainment promotes Pierce to CEO 

Inspired Entertainment promotes Pierce to CEO 

Inspired Entertainment has promoted its current president and chief operating officer Brooks H Pierce to the role of chief executive.

Pierce succeeds former CEO, A Lorne Weil, who has subsequently been promoted to executive chair of the supplier’s board.

Besides his CEO duties, Pierce will also continue in his role as chief operating officer and have additional oversight on company strategy.

As part of the promotion, Pierce’s terms of employment have been extended to 31 December 2026. His base salary has increased to $585,000 with a bonus eligibility of up to 110% of his annual salary, meaning he could earn up to $1.2m depending on performance.

Alongside Pierce’s promotion, executive chairman Weil’s terms of employment have been extended to 31 December 2027.

Weil’s updated terms of employment include a salary increase to $800,000 per annum, and an 80,000 yearly limit on shares.

The business said the leadership changes were part of a wider plan to streamline strategic oversi..

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World Series of Politics Episode 11: GeoComply’s Linsday Slader on Ohio

World Series of Politics Episode 11: GeoComply’s Linsday Slader on Ohio

The special guests keep coming on the World Series of Politics, with GeoComply’s Linsday Slader joining Brendan Bussmann and Brandt Iden to discuss Ohio’s sports betting launch. Also under discussion are Brazil, Macau and the US legislative session.

The geolocation specialist’s managing director of gaming says Ohio’s sports betting launch was one of the biggest market openings in the US to date.

Over the New Year weekend alone, GeoComply recorded more than 11.3 million geolocation transactions, and Slader says around 1.2 million accounts were set up in the first week of activity.

This episode also marks the World Series of Politics’ debut on Spotify! You can also listen on Apple Podcasts, and directly from this page.

Ohio betting flies out the blocks

There’s also a wider range of betting options than ever before, with 1,000 kiosks rolled out across Ohio, and it’s going to be interesting to see how this works in tandem with a widespread mobile offering. If it keeps up its early ..

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Detroit casinos post gaming and sports betting revenue drops in 2022

Detroit casinos post gaming and sports betting revenue drops in 2022

Detroit’s three land-based commercial casinos reported a year-on-year decline in gaming revenue for 2022, with revenue down across both slots and tables games and sports betting.

Revenue for the 12 months to 31 December 2022 was $1.28bn, down 1.4% from $1.29bn in the previous year. Slots were responsible for $983.7m of total revenue, representing 77% of the market, then table games with $273.3m (21%) and sports betting at $18.8m (2%).

Analysing the performance by market sector, combined slots and table games revenue fell by 0.8% year-on-year to $1.26bn.

Read the full story on iGB North America

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Gaming bill filed as Texas gears up for 2023 legislative session

Gaming bill filed as Texas gears up for 2023 legislative session

The Texas legislature will consider a bill that would amend the state’s constitution to legalize casinos at a limited number of locations and set the stage to permit sports betting.

The proposed law – Senate Joint Resolution 17 – would devise the framework for a new body named the Texas Gaming Commission, which would supervise legalized gambling in Texas.

Casino gambling would be authorized at a “limited number of destination resorts and facilities” with the proceeds going towards tax relief and funding for education and public safety.

The amendment’s author is Houston-based state senator Carol Alvarado, a Democrat who initially pre-filed the bill on 14 November 2022.

[Read full story on iGB North America]

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Nevada gambling revenue slips to $1.22bn in November

Nevada gambling revenue slips to $1.22bn in November

The Nevada Gaming Control Board (NGCB) reported a 7.6% year-on-year decline in gambling revenue for November, though statewide revenue exceeded $1.00bn (£833.8m/€946.8m) for the 21st consecutive month.

Revenue for the month amounted to $1.22bn, which was down from $1.32bn in November of 2021 and also 4.7% lower than $1.28bn in October 2022.

Slots remained the primary source of revenue in Nevada, with revenue from the machines amounting to $871.1m, up 1.3% year-on-year. Multi-denomination slot machines generated for $460.8m in revenue, with penny slots at $300.6m.

Read the full story on iGB North America.

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The man who revitalised Fremont Street

The man who revitalised Fremont Street

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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Kahnawake council launches legal challenge against Ontario igaming laws

Kahnawake council launches legal challenge against Ontario igaming laws

The Mohawk Council of Kahnawàke (MCK) has launched a constitutional challenge against iGaming Ontario and the attorney-general of Ontario, arguing that the province’s regulation of gambling is unconstitutional.

The Council – which runs its own gambling licensing regime – said that the Ontario regime did not meet the requirements for gambling outlined in Canada’s constitution.

As a result, it has filed a motion in the Ontario Superior Court of Justice to challenge the legality of Ontario’s igaming framework, which it said was “illegal and unconstitutional”.

Ontario igaming legal status

Commercial betting and gaming are legal in Canada only if it is “conducted and managed” by a provincial government. While in most provinces that offer online gambling, the government runs a monopoly, Ontario instead launched a licensed regime this year, with more than 30 different licensed operators so far.

While a specific definition of conducting and managing is not provided, the Mohawk Council of ..

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Lahcene Merzoug on PressEnter’s management buyout

Lahcene Merzoug on PressEnter’s management buyout

Fresh from announcing a management buyout, PressEnter CEO Lahcene Merzoug talks to iGB about the new leadership's strategy and future plans.

So, the cat is out the bag; PressEnter Group will be under new (or should we say old?) management.

There are many questions that remain: Will the new chairman stay the course or head to uncharted waters? What form will the shape of the business’ future growth take? And what’s the plan with the company’s brands?

The business formerly known as Betpoint has reinvented itself before, though only the new owners know what the plan is now. Current CEO and future executive chair Lahcene Merzoug explains in his own words.

What was the rationale behind the management buyout, and what important factors led the executive team to decide to go down this route?

The management team has grown the business into what it is today, so we could clearly see the potential in the company and its operations. When the opportunity to buy PressEnter Group arose, ..

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Codere Q3 revenue hits pre-pandemic levels thanks to strong LatAm growth

Codere Q3 revenue hits pre-pandemic levels thanks to strong LatAm growth

Spain, Italy and Latin America-facing gaming business Nueva Codere’s Q3 revenue increased 47.2% year-on-year to €343.4m (£300.7m/ $357.8m), recovering to pre-pandemic levels.

The robust revenue growth is mainly due to the lifting of Covid-19 restrictions in venues, ensuring a rebound for Codere in almost all markets.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 74.8% to €57.4m from €24.6m in the same period the previous year. Codere’s potent performance in Argentina and other Latin American countries is one important factor in this result.

The company’s adjusted EBITDA margin also rose 2.6% to 16.7% in the three-months leading to 30 September compared to the same period of 2021.

Codere country totals

Revenue jumped for Codere in all Latin American markets – most dramatically in Argentina where it increased 146% year-on-year to €98.6m, 122% of the pre-pandemic total. One important factor is that average player spend per visit has incr..

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