Author: OnlineGamblingDaily

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The transaction that saw Blackstone sell The Cosmopolitan of Las Vegas for $5.65 billion was the “most profitable single asset sale ever” for the company’s real estate business, Blackstone said in an earnings report Thursday. The high-priced transaction included a $1.625 billion lease-back deal for MGM Resorts International to acquire its operations in May. Though Blackstone did not disclose the profits from the deal, The Wall Street Journal previously reported that Blackstone’s total profits, including cash flow from operations, would be around $4.1 billion. This deal also marked the latest high-priced transaction in Las Vegas that did not produce any funds in real estate transfer taxes, according to…

Swedish iGaming hosting solutions provider Internet Vikings announced it has officially launched its operations in the state of Iowa, continuing its expansion across the US.  The company now provides its services in a growing number of North America’s iGaming compliant regions, with data centers in West Virginia, Michigan, Colorado, New Jersey, Arizona, Illinois, Indiana, Maryland, Pennsylvania, Tennessee, Louisiana, and Ohio; as well as Ontario, in Canada.  In a press release, Victor Jerlin, Founder and CTO at Internet Vikings, stated: “As each of the US states come to recognize the massive economic benefits of a well-regulated online gaming market, our goal…

Bonuses and VIP programs are some of the most effective tools that online casino operators can use to welcome new players and build a long-term relationship with them. But in some markets, the era of freewheeling bonuses is coming to an end amid tighter regulations. In a new analysis, Ayvar Gabidullin, Business Development Manager at Slotegrator, explains why operators need to be more flexible than ever before with their acquisition and retention strategies.   New regulations and practices in iGaming Due to recent changes dictated by regulators, operators are forced to look for new solutions to reward VIP players.  Authorities in…

A Massachusetts bill seeking to legalize sports betting is in jeopardy as time begins to run out for legislators to bridge differences between Senate and House sports betting proposals. Gov. Charlie Baker and House Speaker Ron Mariano have now voiced doubts about these efforts with only one week left before the end of formal sessions. Legislators continue to work on a compromise bill under a conference committee consisting of state senators and House representatives. While Senate President Karen Spilka said earlier this week she was “hopeful” a bill would come out before the July 31 deadline, this wouldn’t seem like…

Canadian gaming operator Gateway Casinos & Entertainment will be holding a number of virtual job fairs ahead of the Cascades Casino Delta opening this fall. The project is expected to create up to 600 jobs and a $99.3 million investment to the economy in Delta, British Columbia. Rowland England, vice president of operations BC West, said: “Our goal is to create memorable experiences for our guests. To do that we need to grow our team. We are looking for those that share our passion for people and commitment to exceptional customer service. I know we will find great local residents…

The Canadian province of Nova Scotia has launched an online casino after years of pushing by the Atlantic Lottery Corporation. Finance Minister Allan MacMaster said the platform, which is accessed through the lottery corp’s website, went live Thursday.  As reported by CBC, MacMaster stated that there was no big announcement on the topic as they are “not trying to really promote it.” “We just wanted to put it out there. It’s up and running now and it’s there for people who want to play,” he explained. MacMaster said the decision was made in recent days following months of discussion. Those talks…

Kindred Group has announced the release of its half-year report and Q2 of 2022. The latter saw a total revenue of GBP 238.7 million ($285 million), down from GBP 363.7 million in the prior comparable period. Meanwhile, total revenue for H1 was at GBP 485.4 million ($582 million), down from $716.3 million in the first half of 2021. Despite the negative results, CEO Henrik Tjärnström said that after a period of what he labeled “short-term headwinds,” he looks to the future with confidence as he sees good progress with the group’s key strategic priorities. This includes the reception of the…

B2B online casino services provider Evolution released Friday the interim report for January-June 2022, showing Q2 operating revenues increased by 34% to EUR 344 million ($350 million) while EBITDA increased by 36.4% to EUR 238.2 million ($242 million) corresponding to a margin of 69.3%.  Profit for the second quarter period amounted to EUR 200.9 million ($204 million), and earnings per share amounted to EUR 0.94 ($0.95). In terms of the first half of the year, the company’s operating revenue increased by 36.2% to EUR 670.7 million ($682 million), and EBITDA rose to EUR 467.9 million ($476 million). Profit for the…

A major player in California politics unveiled Thursday its stance on the sports betting measures that will be on the November ballot. The American Federation of State, County, and Municipal Employees (AFSCME) District Council 36 has announced its opposition to Proposition 26, a proposed constitutional amendment with the backing of most tribal gaming entities that would allow retail sportsbooks at Indian casinos and state-licensed racetracks. The Los Angeles-based council represents 60 local unions and 20,000 union workers across California. It argues the measure “could result in $500 million in lost tax revenue for California communities.” Joining AFSCME District Council 36…

Gaming provider Inspired Entertainment has announced its July line-up of three new online and mobile slot games. Offering “diverse gameplay styles and a variety of themes,” the launched titles include Fruit Mix, Animal Antics and Totem Thunder. Inspired’s latest fruit-themed slot, Fruit Mix, is described as an easy-to-play, simple slot with a reel configuration of 5×3 and 10 win-lines. Packed with wins, the Wild — shown as the ‘Fruit Mix’ symbol — substitutes all symbols in the game and delivers prizes for scatter wins. It features “colorful fruity symbols” and a “vivid background” that attract casual players. Introducing Fruit Mix™…

Professor I. Nelson Rose, Gambling and the Law How do you know Macau casinos are in trouble economically? Well, if a major news source says there is a “silver lining” in being shut down that may be an indication. And that’s what the Asia Gaming Brief  did then they published an article titled “Macau Casino Closures Provide Some Relief from Cash Burn.” Now, casinos in Macau have so few gamblers, in fact, so little revenue of any kind, that the government finally ordering them completely closed is a small blessing.  At least this way, the casinos do not have to…

The Executive Director of the MLB Players Association, Tony Clark, has shown concern regarding the sport’s increased commercial deals with sports gambling companies. Before Tuesday’s All-Star Game, the executive was asked whether he was getting concerned with the gambling relationships, which have increased since the U.S. Supreme Court ruled in 2018 to overturn the Professional and Amateur Sports Protection Act (PASPA), which outlawed sports betting. “Getting? No. Is? Yeah. Has been? Sure,” Clark told the Baseball Writers’ Association of America. “We’re entering a very delicate and, dare I say, dangerous world here. We hope that it is truly beneficial for our…

Casino-entertainment giant Caesars Entertainment announced Wednesday that it received a top score on this year’s Disability Equality Index (DEI), a joint initiative of the American Association of People with Disabilities (AAPD) and DisabilityIN. Up from 80 on last year’s index, the company received a 100, marking it as one of the best places to work for disability inclusion. The company described the DEI as “the world’s most comprehensive benchmarking tool to measure disability workplace inclusion.” Tom Reeg, CEO of Caesars Entertainment, said: “We are committed to embracing disability inclusion as a key facet of our overall Diversity, Equity, and Inclusion strategy. We…

OddsGecko, a new odds comparison website focused on the crypto sports betting sector, is now live. Its matrix has launched with odds from four operators: Sportsbet.io, Cloudbet, Exbet and Stake.  The website covers all major events and markets across soccer, cricket, basketball, American football, baseball and ice hockey, a press release says. In addition, an extensive range of esports markets “will allow users to find the best prices” on tournaments including CS:GO, DOTA 2, LoL, and more. In a statement, an OddsGecko spokesperson said: “As more people choose to place their bets in Bitcoin and other cryptocurrencies, the demand for fast…

At the start of the year, gaming tech and services provider BetConstruct announced its updated program for the region of Africa. The company has now advanced those efforts, having hosted its To Harmony show in Tanzania and Cameroon, where the firm showcased a wide variety of products on sports betting, casino, esports, virtuals, bet-on games, tools, and services. The business will next host the event in Lagos, Nigeria; and has confirmed attendance at the Sports Betting West Africa Summit. Let’s briefly recap our latest #HarmonyShow and move forward to the next African destination.😎 What’s Yours is Yours campaign is set to discover…