Casino operations – FairOdds Network

July 1, 2024

Weekend Report: PH senator pushes POGO ban, FanDuel’s strong week in NY and more

Welcome to the Weekend Report, where iGB updates you with the stories you may have missed over the last few days. This week we cover POGOs in the Philippines, as well as stopping off in New York, New Hampshire, Thailand and Brazil.

Philippine senator renews call for online gambling ban

Philippines Senator Joel Villanueva is pushing for his 2022 legislation banning Philippine Offshore Gaming Operators (POGOs) and all forms of online gambling to progress through the country’s legislature.

First filed in September 2022, Villanueva’s Senate Bill 1281 aims to repeal all legislation granting the power to regulate online gambling and criminalise the vertical. Those found to have placed, received or otherwise unknowingly transmitted a bet or wager online would face either a prison sentence of up to six months or a fine of PHP500,000 (£6,736.74/€7,943.75/8,524.33).

Villanueva urges PAGCOR to intensify investigation on POGOs and other forms of online gamblinghttps://t.co/dDChQ5jZSZ
— DZRH..

October 17, 2023

G2E 2023: Like Covid never happened

The dog days of the pandemic feel long in the past and the gaming industry was in a bullish mood at G2E 2023, Buck Wargo writes. Despite potential economic headwinds, international expansion and high hopes for igaming mean many left Las Vegas with the sense the industry is in good health.

It was like the pandemic never happened.

The Global Gaming Expo returned to Las Vegas last week, upbeat and optimistic about igaming’s future.

The industry faces headwinds in the coming months from the US economy and a potential Culinary Union strike in Las Vegas, but attendees at the show remained positive.

G2E attracted more than 25,000 people over its four days, just shy of 2019’s record 27,000 turnout. Attendance continued to bounce back after 2020’s cancelled event and a 2021 edition that drew only 13,000 delegates.

A greater return of international visitors and exhibitors – more than 125 countries were represented – helped boost attendance numbers. There were 368 exhibitors, up from 350 a y..

August 3, 2023

BetMGM close to profitability as MGM hits record revenue in Q2

Land-based and online gaming operator MGM Resorts International reported all-time record revenue in Q2, as the company’s online business BetMGM announced its first EBITDA positive quarter.

MGM recorded $1.95bn in revenue in Q2, up 43.4% from the same quarter the previous year. The operator put the increase down primarily to the removal of Covid-19 related entry restrictions in Macau.

MGM CEO and president Bill Hornbuckle also chose to highlight the progress made by its online joint venture with Entain, BetMGM.

“BetMGM reported that it achieved its first positive EBITDA quarter and remains on track to achieve its next milestone of second half profitability,” he said.

However, despite this, the online gaming platform still recorded a $22.5m loss during the quarter. This represents a 68.4% fall in losses compared to the $71.2m reported in the same quarter the previous year.

MGM reports steady profits in Q2

On this total, the business announced it achieved an operating income of $37..

November 28, 2022

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..

October 26, 2022

World Series of Politics: Bill Miller of the American Gaming Association

The World Series of Politics welcomes Bill Miller of the American Gaming Association as first guest.

AGA CEO Miller joins Brendan Bussmann and Brandt Iden to look back on this year’s Global Gaming Expo.

American Gaming Association, G2E and illegal gambling

Miller discusses this year’s Global Gaming Expo after almost 25,000 visitors descended on the Sands Convention Centre earlier in October. He also talks about the US gaming industry’s post-Covid recovery and the threat of the illegal market.

Read his interview, published earlier this week, with iGB for more from the AGA.

Maryland sports betting

This episode also features Maryland, where lawmakers have taken a step towards launching mobile sports betting after a fraught process. There’s a wager on the line between our hosts on this one, just to up the stakes further.

Brendan also discusses the state of play for Macau casinos, where recovery has been hindered by China’s zero Covid policy.

And there’s even more intrigue aroun..

October 25, 2022

American Gaming Association CEO on the rebirth and renewal of US gambling

Bill Miller could argue that his tenure has seen the most transformative period for the gaming industry since the American Gaming Association was established in 1995. He talks to Robin Harrison about sports betting, gaming expansion, Covid-19, safer gambling and the illegal market in this exclusive interview.

When Bill Miller took charge of the American Gaming Association (AGA) in January 2019, the US commercial gaming industry was poised for a period of explosive growth.

Legal sports betting, thanks to the repeal of the Professional and Amateur Sports Protection Act (PASPA), was rapidly spreading across the US.

The industry as a whole posted its fifth consecutive year of revenue growth for that year, with 2019’s total breaking records at $43.6bn.

The industry generated $10.2bn in gaming taxes for state and local governments with 21 of 25 commercial gaming states posting year-on-year revenue growth. This sum covers annual education costs for 832,000 elementary and secondary scho..

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Tag: Casino operations