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Wednesday, August 15, 2018

World Casino News
KPMG Gibraltar eSummit releases full report

KPMG has published its online report for the eSummit Gibraltar 2018. The summit report, sponsored by Continent 8 Technologies, offers transcripts of speeches and panel discussions from the thought-leading program which took place on April 26 at the Sunborn Hotel in Gibraltar’s Ocean Village. Access to the full report is free of charge. Industry outlooks as well […]
Casino News Daily
MGM Springfield Denied Request for Animated Parking Garage Sign

MGM Springfield’s request for an animated parking garage sign was denied by the Massachusetts Gaming Commission during a Tuesday meeting. Gaming commissioners voted 5-0 against the use of animations citing public safety and distracted driving concerns, local news outlet MassLive reported.

The parking garage sign will instead have rotating static images that will change every eight seconds. Gaming Commission spokeswoman Elaine Driscoll said that commissioners agreed to reconsider the issue after three months.

The announcement comes less than ten days before MGM Springfield’s grand opening on August 24. The property, developed and operated by Las Vegas gaming and hospitality giant MGM Resorts International, will be Massachusetts’ first commercial resort with a casino floor.

MGM Springfield lodged its request for an animated sign back in March. The casino told state gaming regulators at the time that its third-party consultant, Watertown-based VHB, had assured it after evaluating multiple studies that there had not been a “statistically significant correlation” between “outdoor electronic signs and driver safety”.

It was last week when the casino resort had its sign installed and lit up on the seven-story parking garage, just below its marquee. It now features a message that reads “We’re ready to roar” referring to the upcoming opening of the property and to MGM’s signature Leo the Lion mascot. MGM Springfield had its version of the emblematic lion put up last week.

The hotel and casino resort occupies several blocks in the downtown-South End area of the city of Springfield. MGM invested $960 million in what would be Massachusetts’ first commercial casino. Aside from a gaming floor with table games and slot machines, the property will also feature a six-story hotel, multiple food and beverage and entertainment facilities, and a parking garage, which MGM announced recently will be free for visitors and guests of the resort.

No Smoking

MGM Springfield officials confirmed earlier this week that smoking will not be allowed on the casino floor. The property will thus become one of nearly 800 casinos across the nation that are smoke-free.

Under the Massachusetts’ gambling regulations, all gaming venues operating on the territory of the state must be smoke-free. The Plainridge Park Casino gaming hall, which opened doors in Plainville in the summer of 2015, does not allow smoking on its gaming floor under the same requirements. The Encore Boston Harbor integrated resort currently under development in the Greater Boston area will, too, prohibit smoking at its casino.

MGM said that its Springfield resort will feature outdoor areas that will be designated for smoking. The operator pointed out that while regional competition, driving distance, weather conditions, and socioeconomic factors might impact the performance of a casino quite negatively, smoking status was not a factor that they are concerned by.

The post MGM Springfield Denied Request for Animated Parking Garage Sign appeared first on Casino News Daily.

Casino – CalvinAyre.com
Mohegan Sun, South Korean ministry to discuss Inspire

Mohegan Gaming and Entertainment, also known as Mohegan Sun, is planning to meet with officials of the South Korean Ministry of Culture, Sports and Tourism (MCST) later this month. The meeting, according to the casino operator’s CFO Drew Kelly, is designed to open dialogue regarding the firm’s Inspire integrated resort, currently under construction near the Incheon International Airport.

Mohegan Sun, South Korean ministry to discuss InspireKelly broke the news on a recent conference call with analysts that followed the release of its Q2 financial report. He reportedly said on the call, “The most important next step – as it relates to the Inspire development – is a meeting that we’ll be having with the MCST in late August and into early September.

“We are preparing a set of information… for them, which we believe will be well received and will otherwise speak to the unique aspect of this truly integrated resort and how it will be a dominant property in the market. As a product of that, we’ll be providing an update on the financing structure.”

Kelly, along with other Mohegan Sun executives, will be seen in Asia for the majority of the second half of this year. They want to make sure that they are “successful both with the meeting with the MCST and with [their] financing partner.”

When the $1.6-billion first phase of Inspire is complete, it will offer a 2.6-million-square-foot gaming area, three hotels, a 118,400-square-foot events area, an indoor entertainment arena and shops and restaurants. It is expected to open in 2021, but the casino will be open to foreigners only.

Financing for the project is still on schedule and the operator anticipates having Inspire’s financing settled by the end of this year. According to Kelly, “I think the timeline hasn’t changed substantially … But in order to check all the boxes … the first next big step is the MCST meeting this month. And then thereafter, we’ll have a very crystal-clear picture as to the exact timing. But generally speaking, no date has materially changed to this point either on financing or likely, the opening.”

Mohegan Sun announced this past May that it had bought out its Inspire project partner, KCC Corp. This allowed the operator to have complete control and ownership of the project and assist with the company’s diversification plans in Asia.

The post Mohegan Sun, South Korean ministry to discuss Inspire appeared first on CalvinAyre.com.

Tuesday, August 14, 2018

Casino News Daily
Resorts Set to Open Physical Sports Book on August 15

Resorts will become Atlantic City’s fifth casino to be operating a physical sports book, the property itself has confirmed in a press release. Its betting facility is slated to open doors on Wednesday at 11 am, pending approval from New Jersey gambling regulators.

Earlier this month, Resorts became New Jersey’s first casino to launch online and mobile sports betting. The roll-out of its digital offering was the result from its partnership with DraftKings. The casino has also recently sealed a partnership with The Stars Group, owner of the BetStars betting brand, among others.

Resorts’ physical sports book will feature a 12-foot video wall as well as 15 television screens. There will be six betting windows and four self-serve kiosks located across the facility.

Resorts will be Atlantic City’s fifth casino to launch a sports book on casino premises. The Borgata was the first to open a betting facility as part of its gaming floor. Its physical sports book went live on June 14. Ocean Resort Casino launched its sports book on June 27, followed by the Wild Wild West Casino at Bally’s, which took its first sports bet on July 30. Most recently, Harrah’s went live with a temporary sports book.

Initial Financial Information

According to official data by the New Jersey Division of Gaming Enforcement, the amount of $16.4 million was generated in sports bets in the period between June 14-30. That figure included bets taken in by the Borgata, Ocean, and Monmouth Park racetrack, which, too, began operating a sports book on June 14.

Revenue generated by the three properties amounted to nearly $3.5 million, with Monmouth leading the way with $2.3 million, followed by the Borgata with $986,831 and Ocean with $192,671.

New Jersey was the first state to legalize sports betting, following the mid-May annulment of the federal ban on sports betting. The state was actually the one to lead the push for the eventual lift of the ban for a number of years and eventually brought the matter to the US Supreme Court.

SCOTUS announced last year that it would review New Jersey’s petition and issued its ruling, favoring the state, on May 14. The decision of the nation’s top court made it possible for all 50 states to legalize sports betting if they believe this would be a positive move. The 1992 PASPA ban prohibited betting on professional and amateur sports leagues at a federal level.

New Jersey managed to craft a sports betting legislation and go live with sports betting operations within a month after the ban’s annulment. The move came as another important manifestation of the busy year the state’s gambling industry has had. Aside from the legalization of sports betting, New Jersey and Atlantic City, in particular, has seen the opening of two new casinos – Hard Rock Hotel & Casino Atlantic City and Ocean Resort Casino. The two new properties and the legalized sports betting offering are hoped to help the state’s gambling sector revitalize after a disastrous decade that culminated in the closure of five Boardwalk casinos within two and a half years.

The post Resorts Set to Open Physical Sports Book on August 15 appeared first on Casino News Daily.