Wire NORTH AMERICA
Chicago Reviews Casino Proposals
Te City of Chicago has released a summary of five proposals received through its RFP process to create a world-class casino-resort and entertainment experience.
Te City has set a robust timeline to make a selection in this process. Applicants will present their proposals to the public on December 16.
ILLINOIS LAND-BASED
US - Century reports improved results Century Casino’ operating revenue rose to $116.6m, for the three months ended September 30, 2021, an increase of 22 per cent over the same period in 2020. Earnings from operations was $25.7m, an increase of 71 per cent.
The company is planning to relocate its Century Casino Caruthersville casino, currently the last remaining riverboat on open water in Missouri, to a land-based casino with an attached hotel, estimated to open in early 2024, and to build a hotel that will attach onto Century Casino Cape Girardeau, estimated to open in late 2023. The company estimates project costs of $68.3m. The company plans to finance the cost of these projects with cash on hand, financing, or a combination of the two.
US - Rush Street Int. selected by NYSGC Rush Street Interactive has been selected by the New York State Gaming Commission (NYSGC) to operate online and mobile sports betting in New York. RSI was awarded one of nine licences permitting gaming operators to offer online and mobile sports betting in New York upon its statewide launch, which is expected to occur during the first quarter of 2022.
Richard Schwartz, CEO of RSI, said: “This is a momentous occasion for RSI, sports fans across the Empire State, and for the gaming industry at large. We are delighted to have been selected by the NYSGC in a very thorough bidding process and extend our congratulations to our fellow consortium members.”
US - WynnBet appoints WynnBET has named Ian Williams as President of Wynn Interactive. He will oversee Wynn Interactive’s global day-to-day operations. A 20- year gaming industry veteran, Mr.
Williams joined WynnBET in October as Chief Operating Officer.
US - Iowa sportsbooks shatter records again Iowa sportsbooks took in more than $280m in bets in October, catapulting past September’s record for monthly wagers by US$70m. With five weekends of football, an October surge was expected. Iowa’s sportsbooks have now collected more in bets over the last three months ($599.8m) than in all of 2020 ($575.2m).
“With baseball’s postseason, the start of the NBA, and a calendar packed with football, bettors found so much to bet on,” said Eric Ramsey, an analyst for the
PlayUSA.com Network, which includes
PlayIA.com. “Iowa has also made a significant leap forward in maturation as more operators launch and Iowans begin to feel more comfortable with online sports betting. A maturing market and busy sports calendar proved to be a powerful combination.”
P18 WIRE / PULSE / INSIGHT / REPORTS
Five proposals have been received by the City of Chicago through its RFP process to create a world-class casino-resort and entertainment experience in the city. An initiative three decades in the making, the Chicago casino is one of the country’s most attractive casino- resort development opportunities. A global gateway city with 9.5 million residents, Chicago welcomed 60 million domestic and 1.5 million international visitors in 2019.
Te proposals are as follows, in alphabetical order and the proposals also include development plans intended to be completed in phases.
Bally’s Corporation, Proposal No. 1: $1.8bn property in the Chicago Tribune Publishing Center with 500 rooms; six restaurant/cafes and a food hall; three bars and lounges; 3,000-seat, 70,000 sq. ft. entertainment venue; 20,000 sq. ft of exhibition space; outdoor/rooftop green space including bars, lounges and pools; 3,400 slots and 173 table games.
Bally’s Corporation, Proposal No. 2: $1.6 bn property in McCormick Place Truck Marshaling with 500 rooms; six restaurant/cafes and a food hall; three bars and lounges; 3,000-seat, 70,000 sq. ft. entertainment venue; 20,000 sq. ft of exhibition space; outdoor/rooftop green space including bars, lounges and pools; 3,400 slots and 173 table games.
Penn National VIP segment up 33 per cent on 2019 figures
US
Penn National has reported ‘ongoing growth’ in its core businesses driven by high-end guests, engagement with younger demographics and new technology.
“Te results from our core businesses continue to impress,” explained Jay Snowden, President and Chief Executive Officer. “Excluding the impact of Hurricane Ida and the Delta variant in the quarter, we saw a continuation of the trends from prior quarters including growth in our VIP segments and our younger demographics.
HR Chicago, LLC: $1.7 billion property from Hard Rock International at ONE Central project site with up to 500 rooms, eight restaurant/cafes and a food hall, six bars and lounges, 3,500-seat Hard Rock Live, Rock Spa, Hard Rock Music and Entertainment Experience, 3,400 slots and 166 table games.
Rivers Chicago at McCormick, LLC: $1.3bn property at Lakeside Center at McCormick Place managed by Rush Street Gaming, LLC utilizing McCormick Place’s 2,900 hotel rooms with ability to add 250 or more additional rooms; 12 restaurant/cafes and a food hall; four bars and lounges in addition to full bars at seven restaurants; 4,200-seat updated Arie Crown Teater; direct covered access to McCormick Place Convention Center; dramatic lakefront setting with outdoor dining, entertainment and other lakeside programming; 2,600 slots and 190 table games.
Rivers 78 Gaming, LLC: $2bn property managed by Rush Street Gaming, LLV in the eight-acre riverfront entertainment district at the northern end of the mixed-use 78 neighbourhood with 300 rooms; eight restaurant/cafes and a food hall, five bars and lounges; Riverfront plaza; Observation Tower with indoor/outdoor viewing space; Harbor Hall multi-purpose riverfront venue for live entertainment, culture/arts and community programs with rooftop space; 2,600 slots and 190 table games.
“Our VIP segment grew by 33 per cent compared to Q3 2019, fuelled by increases in both the number of guests playing at higher levels and the frequency of their visitation.
“Additionally, we are experiencing continued engagement with our younger customers, who are generating new growth, and more than offset any declines in Q3 of our older core gaming customers due to the Delta variant.”
In the three months ended September 30, revenues were $1.5bn, an increase of $382.1m year over year and $157.3m on 2019. Net income was $86.1m with a margin of 5.7 per cent, as compared to $141.2m and 12.5 per cent respectively in the prior year and net income of $43.7m and net margin of 3.2 per cent two years ago.
US
IGT recently established a dedicated Digital & Betting business segment, enhancing visibility to this part of IGT's portfolio of businesses. IGT is also undertaking a legal entity and organisational realignment over the next 12 months designed to provide the Digital & Betting business with dedicated management, a more nimble organisation and governance structure and the ability to pursue organic and inorganic growth opportunities.
As part of this process, the company may evaluate a potential separate public listing of its Digital & Betting business to enhance its strategic flexibility while maintaining a controlling interest following the consummation of any such potential separate public listing.
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