Wire NORTH AMERICA
Full House Chosen for Waukegan Project
Full House Resorts has won the race for a casino licence in Waukegan, Illinois with its American Place gaming and entertainment destination proposal.
Te casino would be located between the hotel and the greenhouse and offer 1,000 slot machines, 50 table games, and a state-of-the-art sportsbook.
ILLINOIS LAND-BASED
ONTARIO – The impact of regulation in Ontario, Canada, will lead to a decline in the take-up of legacy online licences, according to new research by a Canadian casino portal. Once it becomes regulated in Q1 2022, Ontario will offer operators the opportunity to legally serve a province that currently makes up 43 per cent of revenues of the Canadian online casino market. The costs of obtaining a licence will be around CA$100,000 and tax rates are set at 20 per cent.
Opting for the existing tribal Kahnawake licence, which costs $118,725 with a zero per cent tax rate, will still give operators who do not opt to take an Ontario licence the chance to serve the remaining 57 per cent of Canada’s online gaming market, with fewer restrictions on marketing and gameplay. However, increased channelisation away from grey market offerings in Canada is an inevitable consequence of Ontario’s impending regulation. That potentially spells bad news for licences such as that offered by the Kahnawake Gaming Commission, as well as those supplied by regulators in Curaçao and Malta.
VIRGINIA – Hard Rock Int. has announced construction plans are underway for its temporary casino in Bristol, Virginia. “We’ve introduced the Hard Rock experience to a number of cities this year, and our presence in Bristol, Virginia, is especially rewarding for the brand as the project is our first hotel & casino in the state,” said Jon Lucas, Chief Operating Officer of Hard Rock Int.. “The project will spur economic growth, additional tax revenue and create new jobs for the city and its surrounding areas. We look forward to welcoming Hard Rock fans in the New Year.”
The temporary full-service casino boasts approximately 30,000sq.ft of casino space, featuring 900 gaming slots and 20 tables for a variety of gaming options. The space will include a main casino floor as well as non-smoking and high limit gaming areas. Guests will also be able to enjoy a new restaurant, a grab and go food outlet, and a sports bar and lounge with entertainment along with an adjacent smoking sports lounge, plus multiple gaming offerings, amenities and services including a sportsbook, Virginia lottery offices and a retail store.
US – Bragg Gaming Group has entered into an exclusive global content licensing agreement with Bluberi, based in Las Vegas. Content from Bluberi’s portfolio of slot games will be adapted for the online market by a team led by Doug Fallon, Bragg Group Director of Content and founder of Wild Streak Gaming. “Bluberi’s slot content portfolio continues to grow in popularity with land-based players, and we are excited to now be able to add their titles to our rapidly growing omni-channel offering.”
P22 WIRE / PULSE / INSIGHT / REPORTS
Full House Resorts has won the race for a casino licence in Waukegan, Illinois with its American Place gaming and entertainment destination proposal being selected by the Illinois Gaming Board, subject to final licensing approvals.
American Place was originally one of five proposals submitted in response to a ‘request for proposals’ to develop and operate a new casino and entertainment destination. Te decision is the culmination of a competitive selection process that was launched in 2019.
“We thank the Illinois Gaming Board for their confidence in Full House Resorts and for selecting our American Place proposal,” said Daniel R. Lee, President and Chief Executive Officer of Full House Resorts. “We will begin working immediately on American Place, first with the development and construction of a temporary casino in Waukegan, Illinois. Trough our planned temporary facility – aptly named Te Temporary by American Place – we will be able to quickly create jobs and generate tax revenues while the permanent American Place facility is being built. We expect to open our temporary facility in mid-2022.”
Fertitta pulls the plug on $8.6bn deal to float Golden Nugget Online
US
FAST Acquisition, a special purpose acquisition company co-headed by Doug Jacob and Sandy Beall, and Fertitta Entertainment, the parent company of Golden Nugget/Landry’s, have agreed to mutually terminate their merger agreement, originally entered into on 1 February 2021 and amended on 30 June 2021.
Te parties have simultaneously terminated their merger agreement after a settlement was reached regarding the parties’ disagreement over the termination date.
Te settlement provides FAST and its shareholders up to $33m through a combination of upfront and deferred payments,
Mr. Lee added: “Our permanent American Place facility is designed to be a world-class destination for nearby Chicagoland residents and the entire region, and will include luxurious amenities such as an all-villa hotel with full butler service. We are excited to join the Waukegan community and welcome the opportunity to bring our American Place vision to life, with completion of our full experience expected in 2024.”
Te company will build a $250m gaming and entertainment destination named American Place – would be developed on 32 acres of land that it currently has under contract. Te site is highly visible from Interstate 70 and convenient to the I-70/SR 46 interchange. Te site is approximately one hour west of Indianapolis and within 100 miles of Champaign-Urbana and Decatur, Illinois, as well as Lafayette, Indiana.
Te casino would be located between the hotel and the greenhouse and offer approximately 1,000 slot machines, 50 table games, and a state-of-the-art sportsbook. Atop the casino is a solar energy farm, which would provide green, sustainable energy for a portion of the complex’s electrical needs.
part of which is contingent on whether FAST ultimately effectuates a business combination transaction.
Te settlement includes a payment to the SPAC which will be used to cover expenses associated with the terminated transaction as well as a replenishment of the SPAC’s working capital account. FAST intends to continue to seek a business combination with another operating company.
Doug Jacob, Founder of FAST, stated: “FEI is an incredible hospitality empire run by the one of the world’s best operators that we have had a first-hand view into for many years now. We wish Tilman and his team the best of luck as they remain a private company. Trough this settlement we ensured that we are sufficiently capitalized to seek a new target and that we could continue our efforts to maximise value for our shareholders.”
Virginia
Rivers Casino Portsmouth, developed and operated by Rush Street Gaming, has hosted a ground breaking ceremony to launch the construction of the new gaming and entertainment complex planned for Victory Boulevard. Tis $300m plus project will feature a casino, BetRivers Sportsbook, premier restaurants, a live entertainment lounge, hotel, and event center. Rivers Casino Portsmouth will open in early 2023. Rivers Casino Portsmouth brings 1,300 new permanent jobs and approximately 1,400 construction jobs to the area. Te entertainment venue will also generate an estimated $16.3 million in new annual tax revenue for the City of Portsmouth. Rivers Casino Portsmouth will be RSG’s seventh ground-up casino development. Currently, the company operates full-service destination casinos in Illinois, Pennsylvania, and New York.
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