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Maverick Challenges Tribal Monopoly
Maverick Gaming has filed a lawsuit challenging the tribal gaming monopoly as it currently exists in Washington State.
Maverick Gaming, a gaming and entertainment company headquartered in Kirkland, Washington, has filed litigation in the United States District Court for the District of Columbia, challenging an application of the Indian Gaming Regulatory Act (IGRA) that is being used to give tribes exclusive rights to certain types of gaming, such as sports betting, that are not allowed in non-tribal gaming properties in Washington State.
“We support and respect tribal equality and sovereignty,” said Eric Persson, CEO and co- founder of Maverick Gaming. “Our decision to file this litigation is founded on the same values that we have brought to all of our efforts at Maverick Gaming.
“We are proud of our union-led workforce in Washington that offers family-wage jobs with benefits and a pension, helping create access to economic opportunity in communities across my home state. Tat access to economic opportunity relies on a fair application of laws such as the Indian Gaming Regulatory Act and I
US
Sports Entertainment Acquisition Corp. (SEAH), a special purpose acquisition company, has announced that SEAH’s shareholders have voted to approve its proposed business combination with SGHC (Super Group), the holding company for online sports betting and gaming businesses, Betway and Spin. A Form 8-K disclosing the full voting results is expected to be filed with the Security and Exchange Commission. Te transaction is expected to generate approximately $202.4 million from SEAH trust proceeds, reflecting approximately 45 per cent of the publicly held shares that were not submitted for redemption. Following closing, the combined company will be known as “Super Group (SGHC),” and on January 28, 2022, its ordinary shares and public warrants began trading on the New York Stock Exchange under the symbols SGHC and SGHC WS, respectively.
am hopeful that this lawsuit will resolve successfully so that tribal casinos and smaller commercial cardrooms like those owned by Maverick Gaming may offer the same types of legal gaming, such as sports betting, just like commercial cardrooms and tribal casinos already offer in other states.”
“Te Indian Gaming Regulatory Act was intended to guarantee parity between tribal and non-tribal gaming, but unfortunately Washington State is misusing IGRA to instead create tribal monopolies on certain types of gaming, such as sports betting,” said Teodore B. Olson, partner at Gibson Dunn, representing Maverick Gaming’s claim.
“Contrary to IGRA’s own words, the law is being used to insulate tribes in Washington State from competition that exists in many other states with legal gaming marketplaces. We look forward to resolving this matter so that IGRA’s intent and wording are reflected in Washington State’s regulated gaming marketplace for tribal and commercial businesses.”
US NGC allows remote identity verification
Nevada casino visitors will now be able to create, verify, and fund their cashless wagering accounts remotely after the Nevada Gaming Commission approved Sightline’s petition to change Nevada’s gaming regulations. Sightline Payments submitted the petition for the regulation change seeking to provide Nevada casino customers with a streamlined cashless experience.
Te new regulation allows Nevada casino patrons to create their wagering account and verify their identity remotely by uploading a government document. Before this regulation change, cashless gaming customers at Nevada casinos needed to physically verify their identity with a staff member, resulting in delays and a suboptimal consumer experience. Tis change only impacts the creation of casino wagering accounts and will not affect current practices for creating sports betting accounts in Nevada.
Te Nevada Gaming Control Board unanimously voted to recommend the remote identity verification for wagering accounts change to the Nevada Gaming Commission after holding two workshops in November and December 2021. Nevada regulators continue to make changes driving cashless gaming following their June 2020 decision to allow cashless gaming within Nevada casinos.
“We are grateful to the Nevada Gaming Commission for their unanimous support of this regulatory change allowing remote identity verification for wagering accounts in Nevada,” said Omer Sattar, Co-CEO of Sightline Payments. “Continuous innovation is critical to ensure Nevada remains at the forefront of gaming, and we could not do that without the support of our regulators. I would like to thank all the members of the Nevada Gaming Commission and Control Board for their efforts.”
US - Hedge fund moves on Bally’s shares Bally’s shareholder Standard General has submitted a proposal to acquire the remainder of the US gaming operator, valuing the entire business at more than $2bn (£1.48bn/€1.77bn).
Shares of casino operator Bally’s Corp. jumped more than 20 per cent after the company’s largest shareholder, hedge fund Standard General LP, submitted an offer to buy the remaining stock it doesn’t already own for $38 a share.
Standard General, which already owns a 21 per cent stake in Bally’s, submitted a letter to the Bally’s board detailing the offer, which Bally disclosed in a filing with the Securities and Exchange Commission.
The hedge fund, whose founding partner and Chief Investment Officer, Soo Kim, currently serves as Bally’s chairman, said it expects the board to appoint a special committee of independent directors to consider its proposal and make a recommendation, according to the company’s SEC filing.
Standard General won’t move forward with the deal unless it is approved by the special committee, Bally’s said in the filing. The deal is also contingent on approval by the holders of a majority of Bally’s shares that aren’t owned by Standard General.
US - IGT changes at the top Vincent Sadusky has become CEO and executive director of the boardas part of changes that took effective last month. Lorenzo Pellicioli is also to retire as
chairperson of the IGT Board of Directors but will remain a non-executive director. Marco Sala, currently CEO of IGT, will become executive chair of the board.
In a separate release, B&D Holding S.p.A., the controlling shareholder of De Agostini S.p.A., announced that Marco Sala will be proposed at the June 2022 meeting of the corporate bodies of De Agostini as the next CEO of De Agostini, succeeding Lorenzo Pellicioli, who is retiring from the position.
US - New Washington DraftKings venues DraftKings and the Tulalip Tribes of Washington have announced an exclusive market access partnership that will bring the DraftKings retail sportsbook experience to the state of Washington. Plans are underway to open DraftKings retail sportsbook locations at Tulalip Resort Casino and Quil Ceda Creek Casino, both located north of Seattle in Tulalip, WA.
Initial design plans for the DraftKings Sportsbook at Tulalip Resort Casino, pending licensure and regulatory approvals, will feature a 5,000sq.ft space with a 50ft. video wall and more than two dozen kiosks and eight ticket windows.
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