Kategori: Casino Nyheder

Posted on: July 28, 2023, 12:25h. 

Last updated on: July 28, 2023, 12:51h.

The proposed A’s stadium in Las Vegas is going back to the drawing board.

Literally.

A’s director of design Brad Schrock told the Las Vegas Review-Journal this week that the team is instructing the architectural groups vying to build the ballpark to forget about the renderings it released to the press on May 26.

The two groups are the Las Vegas-based firm, Gensler, and a combination of two firms —  HTNB, which assisted in Allegiant Stadium’s design, and Bjarke Ingels Group, which created the Athletics’ Howard Terminal plans.

“We told the groups, ‘You saw renderings in the newspaper, but wad those up for now,’” Schrock said. “We are really encouraging them to think creatively about the different ways to solve the problem. It will be fun to see what we get back.”

What’s the problem Schrock is referring to? The renderings appear to show the 30K-seat stadium on a much larger lot than the one the A’s will have once the Tropicana gets demolished. Stadiums with retractable roofs are not generally feasible on lots as small as the A’s is.

“The real interesting problem about the Tropicana site is we have a footprint that’s basically constrained within nine acres,” Schrock told the newspaper. “Traditionally [with] big, retractable roofs, you move off of the footprint.”

Infield Fry Rule

Might the A’s may be forced to play outside in the intolerable Las Vegas summer heat, which on July 16 reached 116 degrees Fahrenheit?

No. Worst-case scenario, the roof would be fixed and the air conditioned. It’s the walls that could open — to allow outside air in when the weather is cooler. That design is part of other Southwestern stadiums including Allegiant and the Arizona Diamondbacks’ Chase Field in Phoenix.

“That’s a much more economical solution than trying to move a big piece of the roof,” Schrock told the newspaper. “It also gives us the ability to create some pretty dynamic views (of the Strip) out of the outfield wall. All of those things are being studied right now.”

In addition, Soo Kim, chairman of Bally’s Corporation, which owns the Tropicana, previously told the R-J that it could allow the A’s access to extra land if needed for a retractable roof.

Either way, those renderings served a purpose, though — to help get Nevada lawmakers to approve the $380 million in taxpayer money that will help build the stadium.. After several special sessions, Nevada Gov. Joe Lombardo signed Senate Bill 1 into law on June 15.

The R-J reported that the two groups have until early November to give the A’s a 75% concept design of their stadium. A winner will be chosen based on “constructability and cost.”

Source: casino.org

Posted on: July 27, 2023, 09:13h. 

Last updated on: July 27, 2023, 09:35h.

Nov. 3 is the official opening date of Kylie Minogue’s first Las Vegas residency. As previously reported, it will inaugurate the Voltaire, a new performance venue at the Venetian Resort.

Tickets go on sale Aug. 9 at voltairelv.com.

“I’ve performed a couple of times at Vegas, but as part of a tour, and particularly when I did the ‘Showgirl’ tour in 2004,” Minogue said Thursday at a press conference at the Pendry Hotel in West Hollywood. “At that time, we said, ‘Oh, this feels like a Vegas show.’ Then, when I did ‘Aphrodite,’ which was a tour with so many waterworks in like precision fountains, my team at the time kept saying, ‘Why isn’t this in Vegas? We’ve got to do it at some point.’”

Minogue, 55, had been considering a Vegas residency since last fall, when the Daily Mail reported that she was in talks with Caesars Entertainment for a 12-week run, possibly at Caesars Palace or Planet Hollywood. She has not toured in the US since 2011.

“I was thinking years ago I want to do it when I’m younger like, I don’t want to do it when I’m at the sunset of my career,” Minogue continued. “So, I think I’ve got it right somewhere in the middle where I feel like I’ve earned the right to and have the experience to really enjoy being there.”

With only 1,000 seats, the Voltaire is only a quarter the size of Adele’s  venue, The Colosseum at Caesars Palace. So Minogue, who came to fame with 1988’s “The Loco-Motion,” won’t give the reigning queen of the Strip any competition, sales-wise.

However, with more than 80 million worldwide album sales, Minogue is the most successful female artist of all-time in Australia, so her appearances should stir quite a buzz.

Come into Her World

“I want it to be the kind of essence of what a Kylie show has become, enough glamour and abandon,” Minogue explained. “I’ve got some versions of songs that have not been heard, like reinterpretations of songs, which is exciting. Live bed dances, amazing costumes. That’s the base and then we’ll see what surprises we can come up with.”

The announcement comes on the heels of the success of her song “Padam Padam,” which broke Top 10 on Billboard’s Hot Dance/Electronic Songs chart and became a summer TikTok phenomenon, and ahead of the Sept. 22 release of her 16th studio, album, “Tension,” which will feature a song called “Vegas High.”

“We were talking about going to Vegas, the possibilities,” Minogue said. “It’s a shimmering thing in the distance. If you’re flying in, or if you’re driving, the roads get drier, and the mood changes, and as the saying says, ‘What happens in Vegas stays in Vegas.’ It’s just its own little kind of Wonderland.”

The Studio 54-inspired Voltaire — located in the former Opaline Theater space across from the Summit Showroom — was created by Venetian chief content officer Michael Gruber, a former Caesars exec, and designed by Emmy- and Tony Award-winning production designer Derek McLane. It is expected to play host to concerts, DJs, and burlesque performers.

To receive ticket on-sale information as soon as it’s released, subscribe to voltairelv.com.

Source: casino.org

Posted on: July 27, 2023, 10:28h. 

Last updated on: July 27, 2023, 11:36h.

Disgraced private equity tycoon Leon Black, who cofounded Apollo Global Management — which owns the operating rights to The Venetian Resort in Las Vegas and previously controlled Harrah’s Entertainment — has been accused of raping an autistic Down syndrome girl.

A lawsuit filed this week in the U.S. District Court for Southern New York alleges that Black, 71, raped a 16-year-old girl in 2002. The incident took place at the Manhattan townhouse of convicted child sex offender and trafficker Jeffrey Epstein.

Worth an estimated $10.2 billion by Forbes, Black resigned from Apollo in 2021. That’s after reports surfaced that he had paid the late Epstein at least $158 million for “financial services” from 2012 through 2017. Black claimed the money was for an array of financial services, including trust and estate planning and philanthropic endeavors. But he admitted that, in hindsight, dealing with Epstein was “a horrible mistake.”

“Knowing all that I have learned in the past two years about Epstein’s reprehensible and despicable conduct, I deeply regret having had any involvement with him,” Black said.

Rape Denials

Black’s attorneys told NBC News that the rape allegations charged this week are “frivolous and sanctionable.”

These vicious and defamatory lies, masquerading as allegations, have been intentionally manufactured by the Wigdor law firm as part of the firm’s vendetta against Mr. Black for vigorously and successfully defending himself over the past two years,” said Black attorney Susan Estrich. “These allegations — about an incident that supposedly took place 20 years ago — are totally made up, entirely uncorroborated, and, as pleaded, squarely violate the statute of limitations.”

It isn’t the first time that Black has denied rape allegations.

Black successfully convinced a New York state court earlier this year to dismiss rape allegations against him made by accuser Guzel Ganieva. Justice David Cohen said the $9.5 million payment she agreed to take from Black in 2014 through a nondisclosure agreement prevented her from pursuing a legal claim. Cohen found that Ganieva didn’t sign the agreement under distress. Ganieva was an adult at the time of the alleged rape.

Black remains fighting another rape allegation brought against him by a woman named Cheri Pierson. She claims to have suffered a “brutal attack” by Black at Epstein’s townhouse in 2002. Pierson claims she went to the townhouse under the ruse Epstein told her that Black could help her launch a skincare line she was working on.

She recalls desperately yelling and screaming … she tried to kick. She struggled to free her legs from his vicious grip, but he was too strong,” Pierson’s lawsuit alleges. Black denies the allegations, Estrich saying the claims are “baseless” and an “abusive conduct and misuse of the courts.”

Pierson is also represented by the Wigdor law firm.

Epstein Took Secrets to Grave

Epstein committed suicide inside Manhattan’s Metropolitan Correctional Center in August 2019. He was facing numerous federal charges at the time of his death, including the trafficking of minors for the purposes of sex in Florida and New York.

Black earlier this year paid $62.5 million to the US Virgin Islands government to be released from claims related to Epstein. The late sex offender had owned a private island there called Little Saint James, where he allegedly organized numerous crimes against underage girls and trafficked women for his friends and clients.

Source: casino.org

Posted on: July 27, 2023, 10:27h. 

Last updated on: July 27, 2023, 11:44h.

Two-way star Shohei Ohtani from the Los Angeles Angels has been the subject of trade rumors all season. But the Angels will keep the home run leader and starting pitcher.

Ohtani leads the majors with 36 home runs and he’s tied for third with 77 RBI. He is posting career numbers at the plate, with a slashline of .299/.398/.668.

As a pitcher, Ohtani is 8-5 with a 3.71 ERA, a 1.12 WHIP, and 148 strikeouts. Opponents are hitting only .195 against him.

The surging Angels (52-49) swept the slumping New Yankees and went on a 6-1 run. The Angels are currently four games out of the American League wild card race and are among a handful of bubble teams.

The Angels already made two moves to bolster their pitching staff. They acquired right-hander starter Lucas Giolito and right-handed reliever Reynaldo Lopez from the Chicago White Sox in exchange for two minor leaguers. The Angels parted way with two of their top prospects, catcher Edgar Quero and left-handed pitcher Ky Bush.

Trade Rumors: Yankees, Mets, Padres Eyed Ohtani

The trade deadline is next Tuesday, and there was rampant speculation that the New York Mets, New York Yankees, or San Diego Padres would acquire Ohtani from the Angels. Superstitious Yankees fans thought they had the inside track to landing Ohtani in a trade, and that he could help turn around their injury-plagued season.

Ohtani is in the final year of his current contract and he should fetch the highest contract in MLB history this off-season. Ohtani’s new contract will be an estimated $500 million.

Team owner Arturo Moreno stated that the team would consider dealing Ohtani in a trade if the Angels aren’t in contention for the playoffs.

Moreno ended speculation by pulling Ohtani off the trade market. The organization thinks it can secure a wild card spot. They have 61 more games to make a run, and Trout is expected to return in mid-August.

To Trade or Not to Trade Ohtani

Ohtani is a once-in-a-generation player and a rare dual-threat star who can excel as a slugger at the plate and thrive as a solid starting pitcher. If the Angels want to win their second championship in franchise history, they’ll need Ohtani on the roster.

The Angels said they will do everything possible to keep Ohtani on the team going forward. However, if Ohtani leaves in free agency, then the Angels will be scrutinized for not trading him at the deadline to get back some assets and minor-league prospects.

Ohtani is the betting favorite to win the AL MVP at -1600 odds. At the start of the season, he was the consensus favorite at +200 odds.

Ohtani finished second in last year’s voting behind Aaron Judge from the Yankees. He won the AL MVP in 2021 when he set a career-high with 46 home runs and 100 RBI. Ohtani is on pace to tie Judge’s AL home run record, which was set last season with 62 home runs.

Betting the Angels Down the Stretch

The Angels occupy third place in the AL West with a 52-49 record. They trail the first-place Texas Rangers (60-45) by seven games, and they’re two games behind the defending World Series champion Houston Astros (58-45) in second place.

If the season ended today, the three AL wild-card teams would be the Tampa Bay Rays (62-43), Astros, and Toronto Blue Jays (57-49).

The Angels are on the playoff bubble with the Boston Red Sox (55-47), Yankees (54-58), Mariners (52-50), and Cleveland Guardians (51-51).

The Angels have a 16.7% chance to qualify for the playoffs, according to a projection by FanGraphs. They have only a 1.0% chance to win the World Series, and a 4.2% chance to win the AL West.

Bookies don’t have faith that the Angels will make the playoffs. They are +700 odds to lock up a postseason berth, according to a prop bet by DraftKings. They are -1000 odds to miss the playoffs.

The Angels are a long shot to win the 2023 World Series at +15000 odds. The Angels are +6500 odds to win the AL pennant. They last won the pennant in 2002, the same season they won their only World Series.

Source: casino.org

Posted on: July 27, 2023, 09:18h. 

Last updated on: July 27, 2023, 11:50h.

Bipartisan federal legislation expected to be introduced in the U.S. Senate will seek to require hotels and casinos to include resort fees in their advertised nightly rates, something many consumers and President Joe Biden have been calling for.

In the gaming industry, casino resorts often tack on nightly resort fees at the end of the booking process. The nightly add-on charges cover such “luxuries” as complimentary Wi-Fi, local calling, a daily newspaper, fitness center access, and boarding pass printing. On the Las Vegas Strip, resort fees range as high as $45 a night, plus tax.

The Hotel Fees Transparency Act, authored by Sens. Amy Klobuchar (D-Minnesota) and Jerry Moran (R-Kansas), would establish federal guidelines requiring hotels, short-term rentals, and other lodging establishments to clearly display the true final rate of the occupancy inclusive of all fees before taxes.

Too often, Americans making reservations online are being met with hidden fees that make it difficult to compare prices and understand the true cost of an overnight stay,” the senators said in a joint statement. “This bipartisan legislation would help improve transparency so that travelers can make informed decisions.”

Biden during his State of the Union address in February singled out resort fees, saying his administration would make it a point to “ban surprise resort fees.”

$3B in Resort Fees

Last year, hotels and resorts collected more than $3 billion in resort fees. That’s according to Consumer Reports, a nonprofit consumer advocacy group that performs independent product testing and consumer-oriented research.

Resort fees, opponents to the charges say, often result in a consumer paying significantly more for an overnight stay than they planned.

The nightly rate ballooned from $372 to $455.88 after the casino’s resort fee and the 13.38% room tax is included.

Resort fee critics say while such charges were once exclusive to true resorts that do offer atypical amenities, the practice has spread to run-of-the-mill hotels and motels, as those properties seek to keep their upfront prices low on booking sites like Kayak and Expedia.

“Essentially, it’s just a way for the hotel to pad their bottom line and to make their pricing seem lower than they actually are. Unfortunately, like a virus, it’s spread from true hotel resorts to almost anywhere,” Clint Henderson, managing editor at The Points Guy, told NBC News.

Industry Defense

The American Gaming Association (AGA), which lobbies on behalf of commercial and tribal casinos in the nation’s capital, says resort fees allow consumers to understand what the resort offers. Eliminating such fees or requiring them to be included in the upfront advertised price, the trade group says, “could lead to consumers making assumptions about what services and amenities would be available.”

We continue to maintain that resort fees provide value,” said Alex Costello, the AGA’s vice president of government relations. “We believe that these should remain and that this is a problem that doesn’t need to be solved.”

Neither Klobuchar nor Moran have said when they might formally introduce the Hotel Fees Transparency Act to Congress. Similar federal legislation was introduced in previous Congresses, but no floor votes have occurred.

Source: casino.org

Posted on: July 27, 2023, 08:24h. 

Last updated on: July 27, 2023, 11:54h.

As the gaming market across the Asian region continues to shift, analysts believe that the Philippines will become a major player. It’s partly because of this that gaming investor PH Resorts Group is desperate to find new backing for its Emerald Bay resort in Cebu, and it’s apparently making headway.

The company previously made a deal with Bloomberry Resorts for two projects, one in Cebu and the other in the Clark Freeport Zone. However, after negotiating the terms for almost a year, the gaming and hospitality giant owned by billionaire Enrique Razon, Jr. decided to pull out this past March.

That was only a temporary setback for PH Resorts. It has two initiatives on the table in the Philippines that it believes will deliver huge results and allow it to keep moving forward.

Stock Sale on the Table

PH Resorts is a subsidiary of Udenna Group, a conglomeration of Philippine companies dealing in oil, logistics, telecommunications, gaming, and more. Despite the connection to the multibillion-dollar business, it hasn’t been doing so well. Its shares, traded on the Philippine Stock Exchange, have lost more than 23% in the past year.

In real terms, this means that there will be 15 billion shares on the market instead of eight billion. The board of directors can issue the shares however they see fit and at any price they believe is acceptable. The announcement indicates that “cash and non-cash properties” are valid forms of payment.

There had also been a suggestion that PH Resorts off-load some of its assets in order to raise capital. The idea was first put forward this past May. However, it didn’t make it to the agenda for Wednesday’s meeting. As a result, it’s not currently on the table.

The need for cash follows consecutive years of losses for the company. In 2021, it reported a loss of $2.8 million, followed by $14.5 million in 2022. This has led to delays in the Emerald Bay project, exacerbated by Bloomberry’s exit.

Negotiating With Investors

At the same time shareholders were approving the stock release, PH Resorts was working on trying to secure investment funds through other avenues. The Manila Standard reported Wednesday that the company was in the “final stages” of several potential agreements.

PH Resorts Chair Dennis Uy is working with “one foreign and one local investor” on Emerald Bay. The details are scarce, with PH Resorts stating that it will release more information “at the soonest possible time.”

Once the resort is complete, it will reportedly offer 780 rooms and five villas, as well as a casino with 729 electronic slots and 146 gaming tables. The project missed a projected launch in 2022 because of the financial difficulties, and it isn’t clear when it might be ready.

The Clark Freeport Zone resort, Base Resort Hotel and Casino, is on hold, with PH Resorts focusing all its energy on Cebu. The company officially stopped working on that property in 2021, after it requested the Philippine government to suspend the project’s license.

Source: casino.org

Posted on: July 27, 2023, 12:55h. 

Last updated on: July 26, 2023, 02:01h.

Leaders in Danville, Va., where Caesars Entertainment this May opened a temporary casino, say they aren’t necessarily worried about efforts in neighboring North Carolina to legalize commercial casino resorts.

Caesars Entertainment is investing $650 million in Danville to bring Caesars Virginia to the border town. The integrated resort casino is one of four casinos authorized in Virginia.

Pressed for comments about whether casino legalization efforts in the Tar Heel State present concerns for Danville and its casino developer, local officials said that’s why the town went with Caesars in the first place.

“The Caesars brand, the Caesars name is second to none. We feel good about what we have and what we will have in the years to come,” Danville City Councilor Lee Vogler told the Danville Register & Bee.

Prepared for Competition

Virginia’s 2020 gaming law qualified Richmond, Norfolk, Portsmouth, Bristol, and Danville to ask their voters if they want to welcome a commercial casino resort with the goal that such an investment would stimulate the region’s economy. Danville’s local government held a competitive bidding process for its lone gaming opportunity and Caesars came out the winner.

Danville voters during the November 2020 election were asked if they supported allowing Caesars to build an integrated resort casino on the grounds of the former Dan River Mills textile campus. Almost 69% of the vote backed the casino initiative.

Danville City Manager Ken Larking said Caesars won the bidding war because it presented the best economic opportunity for the city. But the gaming operator’s brand familiarity also played a role.

Larking said local officials knew North Carolina could consider authorizing its own commercial casinos. But he believes the Caesars brand will adequately retain the South Virginia gaming market and draw guests north from North Carolina even if commercial casinos one day come to the neighboring state.

One of the reasons the city selected Caesars as its operator is because of its strong brand recognition and customer loyalty base in North Carolina,” Larking explained.

Caesars operates two of North Carolina’s three tribal casinos on behalf of the Eastern Band of Cherokee Indians. Harrah’s Cherokee and Harrah’s Cherokee Valley River are both located in the mountainous southwestern portion of the state.

“We’ll be well-positioned to handle [a North Carolina casino],” opined Danville Vice Mayor Gary Miller. “Caesars will do just fine. We’re going to have a first-class resort. It’s not just a casino.”

Strong Start

Caesars Virginia opened its temporary Danville Casino on May 15. The pavilion tent houses 768 slot machines and 25 table games.

Hard Rock Bristol, also a provisional gaming space offering 928 slots and 29 tables, won $12.7 million in June.

Source: casino.org

Posted on: July 26, 2023, 06:39h. 

Last updated on: July 26, 2023, 06:39h.

Drone footage showing several greyhounds, including puppies, being beaten at a prominent Australian kennel has sparked renewed calls in the country to ban the sport.

The video, obtained by the Australian Broadcasting Corporation (ABC), was filmed by “a whistleblower” over a 17-day period in June and early July this year. The compound is owned by breeder and trainer Tony Rasmussen and his wife, Lisa.

Rasmussen is described by Racenet.com as “South Australia’s premier trainer.” His star dog, Victa Damian, has won 14 of its 24 appearances this year, including the Group 1 National Derby at Wentworth Park in January.

‘Dominance Training’

But the shocking footage shows a trainer kicking, punching, and dragging cowering dogs at the property southeast of Adelaide, South Australia.

Elle Trahair, of the Coalition for the Protection of Greyhounds, told 9News she was “absolutely disgusted but not surprised.”

“What we’re seeing in the footage is a dominance training technique,” she said. “Kicking, and in [one] video kicking puppies, is a way to break a greyhound down, to ensure that it becomes a good chasing race dog to make money for its owner.”

It has not been possible to identify the trainer involved and there is no suggestion that the individual is either Tony or Lisa Rasmussen.

After agreeing to meet with an ABC reporter to view the video, Tony Rasmussen claimed the individual is a former employee who had been “dealt with” because he treated the dogs badly.

He refused to tell ABC when this individual’s employment was terminated and added that the matter was being dealt with internally.

Industry Probe

Greyhound Racing SA said it has launched an immediate investigation and the Rasmussens have been suspended pending its outcome.

Meanwhile, South Australian Premier Peter Malinauskas has announced there will be an independent inquiry into the industry.

“I want to be clear from the outset, I think the greyhound racing industry has a role to play in our state, but it’s got to be clean,” he said.

“We were told that this type of behavior doesn’t happen and now we find out it does, so I’m not going to take the industry’s assurances as gospel anymore.”

Funding Boost

It’s the latest in a series of scandals to rock Australian greyhound racing. Earlier this year, trainer Ian Anderson was handed a life ban, allegedly for bludgeoning four retired greyhounds to death with a rock.

Despite this, the South Australia state government increased Greyhound Racing SA’s funding in its most recent budget. It boosted the amount going to horse and dog racing from 10% to 20% of profits from state-licensed betting operations.

Source: casino.org

Posted on: July 26, 2023, 06:36h. 

Last updated on: July 26, 2023, 07:13h.

Clark County’s October 1 Memorial Committee on Wednesday revealed its top choice for a permanent memorial for the victims of the Las Vegas mass shooting in 2017.

The seven-member committee chose JCJ Architecture’s design over five others for the memorial, which is to be erected on two acres of the former Las Vegas Village. That was the site of the Route 91 Harvest Music Festival, which was interrupted by gunfire in what became the deadliest mass shooting in modern US history.

“Forever One” will include a wall inscribed with the names of the victims. The wall will curve around 58 beams, called “candles,” representing the victims. The memorial will also include a central “tower of light” and a space for intimate concerts.

The committee’s recommendation for the memorial is scheduled to be presented to the Clark County Commission at a meeting Tuesday, Sept. 5 at 9 a.m. If the commission approves, they will decide the next steps toward building and maintaining the memorial.

According to JCJ’s website, “Forever One” will serve “as a place for individuals to reflect, grieve, and remember those who lost their lives,” as well as “a place to provide solace and healing for the community while also serving as a reminder of the importance of promoting peace, unity, and the prevention of violence.”

JCJ — which has offices in seven US cities, including Las Vegas —  wrote that it conducted “listening sessions” with groups that included the families of the 58, survivors, and emergency responders to inform its design.

The committee also chose a backup design from OLIN + Andy Scott, which featured large metal horse statues.

All the contending designs memorialized the 58 victims who died of their gunshot wounds either immediately or in the following few hours. Two additional victims died of their injuries in the following months, however. Though many memorial aspects won’t include them, committee chair Tennille Periera told reporters after the meeting that they will be honored within the memorial, according to a report by the Las Vegas Review-Journal.

The memorial will be erected at Reno Avenue and Giles Street, near the Shrine of the Most Holy Redeemer, a Roman Catholic church that became a refuge for victims of the massacre.

In 2022, North Dakota’s Three Affiliated Tribes purchased 13 of the 15 acres of the original Las Vegas Village festivals grounds — which had sat unused since the tragedy — for a reported $90M.

Source: casino.org

Posted on: July 26, 2023, 04:45h. 

Last updated on: July 26, 2023, 04:51h.

BetMGM’s increasingly sturdy financial performance could compel MGM Resorts International (NYSE: MGM) to revisit a takeover of Entain Plc (OTC: GMVHY), something the former’s management team said it’s not inclined to do.

The iGaming and online sportsbook operator provided investors with a financial update on Wednesday, noting it turned positive on the basis of earnings before interest, taxes, depreciation, and amortization (EBITDA) in the second quarter, and that it could be EBITDA-positive for the back half of 2023. Adding to external speculation that MGM could again move on Entain is the point that BetMGM will likely become self-sustaining in the coming months, requiring no further investments from the two joint venture partners.

MGM executives have said they’re not interested in bidding anew for Entain, but they’ve also made it clear they’d like to control 100% of BetMGM.

BetMGM’s Impressive Financial Performance

While it trails rivals FanDuel and DraftKings (NASDAQ: DKNG) in terms of online sports wagering market share, BetMGM is notching impressive financial results.

Our financial guidance for the year remains on track – we expect to deliver $1.8 to $2.0 billion in full year revenue, as well as to be EBITDA positive in the second half of 2023,” said CEO Adam Greenblatt in a statement.

In the first half of this year, BetMGM posted same-state net revenue growth of 25% while notching a 65% increase in per-player revenue among clients acquired in 2021 or earlier. With first half debuts in Massachusetts, Ohio, and Puerto Rico, the operator is live in 26 jurisdictions covering 46% of the US adult population.

BeMGM’s first-half iGaming market share was 27%, good for one of the best percentages in the industry. The operator’s sports betting share is 11%, but that figure increases to 13% in markets in which the company was operational from day one.

How Tenable is MGM Buyout of Entain?

It remains to be seen if MGM makes another offer for Entain or if the former buys the latter out of BetMGM, but there are some certainties. First, speculation to this effect remains rampant.

The other certainties are that MGM has one of the industry’s strongest balance sheets, meaning it could make a significant deal if it so desires, and it reports second-quarter results on August 2. That could be an opportunity for management to discuss longer-ranging plans for BetMGM.

Source: casino.org