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Thursday, April 19, 2018

Casino – CalvinAyre.com
Women get more representation in Wynn Resorts board shakeup

Las Vegas-based casino operator Wynn Resorts is giving women more opportunity to be heard in the company in the wake of a sexual harassment scandal involving its founder and former CEO Steve Wynn.

Women get more representation in Wynn Resorts board shakeupThe Nasdaq-listed firm announced that that it has expanded the composition of its board to 11 members in order to appoint three “highly-qualified” women as independent directors.

Wynn Resorts said the appointments of Betsy Atkins, Dee Dee Myers and Wendy Webb signifies “a turning point” for the casino operator, which is still reeling from the scandal tied to its former leader. The announcement comes a day after Elaine Wynn, currently Wynn Resorts’ largest single shareholder, requested an overhaul of the entire board to “fully restore” the company’s reputation.

The appointment of Atkins, Myers, and Webb makes Wynn’s board 36 percent female, catapulting the casino operator into the top 40 S&P 500 companies in terms of female board representation.

Wynn chairman D. Boone Wayson said the company intends to add a few more new directors in the coming months.

“To be clear, this is the first step in our effort to refresh the board,” Wayson said in a statement.

Atkins, author of Behind Boardroom Doors: Lessons of a Corporate Director, is recognized as an expert in corporate governance and digital transformation, consumer experience and technology.

Meanwhile, Myers is known in the political circle as the ex-spokesman of former U.S. President Bill Clinton and the first woman to serve as the White House press secretary. She is currently the executive vice president for Worldwide Corporate Communications and Public Affairs at Warner Bros. Entertainment.

Finally, Webb is currently a director of ABM Industries, where she serves on the Audit Committee and Strategy and Risk Committee, and is on the board of 9 Spokes, a software company.

Aside from the appointments of the three women, Wynn Resorts noted significant actions to improve the workplace environment in response to the allegations regarding its former CEO. The company said it created a new department focusing on gender equality, diversity, fair treatment and female leadership and launched new employee benefits, such as paid parental leave.

Steve Wynn has sold his stock in the company, including 8 million shares to two long-term institutional investors, as part of the casino operator’s sweeping reforms.

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Wednesday, April 18, 2018

Casino – CalvinAyre.com
Florida, Seminoles reach deal to extend casino revenue sharing

florida-seminoles-extend-casino-revenue-sharingFlorida’s state government has reached a new gaming deal with the Seminole Tribe, but a special legislative session on gaming issues appears to still be in the works.

On Wednesday, Florida Gov. Rick Scott announced that the state had extended its casino revenue sharing agreement with the Seminoles through May 2019. The agreement, which was signed in 2017, calls for the tribe to provide the state with around $300m per year in exchange for exclusive rights to certain gaming products.

Scott said the agreement “ensures the Tribe’s current commitment remains intact” but Scott stressed that Wednesday’s deal “does not make any changes to state gaming law or expand current gaming operations in Florida in any way.”

The 2017 agreement was itself a stopgap deal due to the inability of state legislators to approve a new gaming compact with the tribe, which operates the Hard Rock International family of casinos. Gov. Scott and the tribe agreed on a new gaming compact in 2015 but it was never ratified by the legislature, where competing factions have prevented forward progress on pretty much any subject related to gaming.

Florida has been wrestling with whether to allow the state’s cardrooms to continue to offer so-called designated player games, which the Seminoles maintain violate their exclusivity over house-banked card games. Also up for grabs is whether to authorize slot machines at certain racetracks and jai-alai frontons.

The state’s latest gaming expansion effort came up short in March but legislators have been pressing for a special legislative session to address unresolved issues. Legislators are keenly aware that the state’s voters will face a ballot question this November that proposes amending the state constitution to make future gambling expansion plans subject to securing the approval of 60% of registered voters.

Following Wednesday’s deal announcement, Florida Politics’ Jim Rosica quoted a source who claimed leaders in both the state Senate and House were “fully engaged” in ensuring legislators get one last crack at approving gaming expansion before the November ballot.

Speaking of, the division of Walt Disney Corporation that has been financially supporting a ‘yes’ vote in November continues to put its money where it’s mouth is. Financial disclosure forms filed by the Voters in Charge political action committee showed Disney Worldwide Services Inc contributed $4.7m to the cause, representing roughly 70% of the group’s total financing.

Disney has been funding anti-gambling expansion campaigns in Florida for years, based on its apparent belief that commercial casinos would taint its family-friendly DisneyWorld theme park in Orlando. To be fair, it isn’t just Florida where Disney has an anti-gambling bent. The company has also forced slot machine developers to scrap titles based on Disney’s intellectual property.

The post Florida, Seminoles reach deal to extend casino revenue sharing appeared first on CalvinAyre.com.

Casino News Daily
UK Lottery Sector Sees Significant Diversification, Says UKGC Executive Director

Today, the Lotteries Council gave the start to its two-day Annual Conference and Networking Event, with various exhibitors taking part.

The UK Gambling Commission (UKGC) also became part of the Conference and its Executive Director Tim Miller gave a speech, addressing the event’s participants and praising the work done by the Lotteries Council.

Mr. Miller used the opportunity to highlight the relationship between lotteries and good causes, revealing that the demand for services provided by charity organizations and good causes has significantly risen over the last few years. The Executive Director of the Commission further reminded that lottery has been an essential source of income for various good causes which local communities take advantage of.

In his speech over one of the first speaker sessions at the Conference, Mr. Miller explained that lotteries and returns to good causes optimization has been one of the five key objectives included in the three-year Strategy which the UKGC published in November 2017. He further shared that the major gambling regulator in the UK remains focused on making sure that lotteries would be able to contribute to society through good causes donations.

Miller Brings More Light on UK Lottery Sector

According to Mr. Miller, optimizing returns to good causes from UK lotteries is a good starting point when it comes to the Commission’s intentions to ensuring a safe and transparent lottery sector. He confirmed that the gambling regulatory body intends to continue making efforts to provide lotteries with the chance to generate as much as possible for good causes.

The UKGC Executive Director also brought more light to the steps that the Commission plans to take in the future in order to optimize returns to good causes in society lotteries. In addition, he reminded that the main principle for running lotteries under the Gambling Act is that UK lotteries are aimed at raising money for good causes, rather than for any commercial gain. According to Mr. Miller, the fact that the proceeds gathered by local lotteries are redirected to various good causes aimed at helping communities is among the main motives for people to continue playing lotteries.

For the time being, approximately 500 society lotteries and 40 External Lottery Managers are licensed by the UK Gambling Commission. As revealed by Mr. Miller, there has been a significant increase in the number of local authorities that promote lotteries in order to raise funds for a certain cause. Currently, a total of 30 local authorities have been granted with a UKGC license, with another 10 applying for one. In any case, the Executive Director of the UK gambling regulator confirmed that growth has been marked in the lottery sector of the UK.

Mr. Miller also emphasized on the fact that these days the country’s lottery sector has been diverse, especially considering the fact that customers are provided with the chance to take part in lotteries through various online applications, as well as through more traditional methods. He shared that the marketing in the sector has become more sophisticated, with special attention paid on the TV, social media and other online advertising methods.

The post UK Lottery Sector Sees Significant Diversification, Says UKGC Executive Director appeared first on Casino News Daily.

World Casino News
Steve Wynn settles long-running legal battle with former wife

In Nevada, yesterday reportedly saw the former Chief Executive Officer for American casino operator Wynn Resorts Limited, Steve Wynn, settle his almost six-year legal battle with former wife Elaine Wynn (pictured) over claims he had breached their shareholders agreement. According to a Monday report from the Las Vegas Review-Journal newspaper, 75-year-old Elaine Wynn had helped […]

Tuesday, April 17, 2018