Pennsylvania Sportsbooks Surge in May NORTH AMERICA
New Jersey - Tax breaks for AC operators Atlantic City’s casinos are to get tax breaks for a whole year once they reopen with New Jersey's upper house passing a series of temporary laws to help the sector bounce back from the effects of the coronavirus pandemic.
The bill, S2400, also abolishes hotel fees until the end of 2020 and creates a $100m grant to the state Economic Development Authority for small business assistance. Atlantic City’s nine casinos have been shuttered since March 16 with no date officially set for their reopening, although July 4 has been touted.
Senate President Steve Sweeney, the bill’s co- sponsor, said: "The goal of this bill is strictly to get (the casino) industry up and running to fund these programs. Right now, (the casinos are not) funding much of anything."
Senator Chris Brown, the bill’s other sponsor, added: "My concern has been and remains with the families who overnight found themselves unemployed and left to deal with a broken unemployment system for the last three months. Working in a bipartisan manner, we took a step today toward saving 27,000 casino jobs while also assisting our small businesses so we can put our Atlantic County families back to work."
State Senator Michael Testa added: "We need casinos to be dealt with separately because for 30 years the state of New Jersey has layered special tax upon special tax on this industry. The taxes that are being waived here are simply special taxes."
US - IGT to sell 1,250 HRMs to Churchill Downs International Game Technology has entered into an agreement to sell 1,250 historical racing machines to Churchill Downs Incorporated. The HRMs will operate on Ainsworth Game Technology's proprietary HHR platform and will feature many player-favourite themes on some of IGT's highest performing hardware.
HRMs are approved by the Kentucky Horse Racing Commission and utilise the results of previously run, live horse races to generate player outcomes.
CDI will utilise the IGT HRMs at their Kentucky gaming facilities including Derby City Gaming in Louisville, Oak Grove Racing, Gaming & Hotel in Oak Grove when it opens in September 2020, Newport Racing & Gaming in Newport when it opens in early fourth quarter 2020 and future facilities.
"CDI is excited to introduce IGT's HRMs with their top- rated themes to our venues and players," said Austin Miller, CDI Senior Vice President, Gaming Operations. "IGT's vast content library and reputation for delivering world-class products aligns with our commitment to delivering premier gaming and entertainment experiences to our guests."
"We believe offering IGT's content and hardware with our proven HHR platform will elevate the player experience in Kentucky," said Ryan Comstock, Ainsworth Chief Operating Officer. "Having an industry-leader such as IGT partner with us helps to validate the relevance of and bright future for this
P20 NEWSWIRE / INTERACTIVE / MARKET DATA
Pennsylvania's retail and online sportsbooks rose in May, while gamblers again turned to online casinos and poker rooms in record numbers
Rivers-Philadelphia led the online casino market with $17.6m in revenue on $641.3m in wagers, up from $13.7m in revenue on $477m in wagers in April.
PENNSYLVANIA ONLINE
Pennsylvania's retail and online sportsbooks rose in May, but lost out on about $275m in potential bets in May, according to PlayPennsylvania estimates, while gamblers again turned to online casinos and poker rooms in record numbers.
"May was another challenging month for Pennsylvania's gaming industry, but it appears that it will be the last month of online casinos and poker rooms being the only bearer of good news," said Dustin Gouker, lead analyst for
PlayPennsylvania.com. "Te casinos that have recently reopened appear to be experiencing relatively strong traffic, and sports bettors are finding increasingly more to bet on. Recovery for the entire industry will be a long road, but there are reasons for optimism."
Online sportsbooks generated $77.5m in wagers in May, up 68.4 per cent from April's $46m handle, according to official data released Tuesday. But Pennsylvania sportsbooks would have accepted more than $350m in a more typical May, according to PlayNJ. May's handle yielded $4.8 million in gross revenue, up from $3.2m in April, and $1.6m in state taxes.
"A normal menu of sports would likely mean an almost instant recovery for online sportsbooks, though we may still be a few months from that
Hard Rock boss promises return to Las Vegas
Nevada
Hard Rock International Chairman and CEO of Seminole Gaming, Jim Allen, has vowed to bring ‘the Hard Rock atmosphere back to Las Vegas. Just as the city's famed "Welcome to Fabulous Las Vegas" neon sign says "Drive Carefully - Come Back Soon," two of five 53' semi-trucks were photographed leaving Las Vegas loaded with some of the iconic brand's most prized, music memorabilia that adorned the walls of the now- closed Hard Rock Hotel & Casino Las Vegas.
In May, Hard Rock International announced that the world-renowned entertainment and hospitality
happening," said Valerie Cross, analyst for
PlayPennsylvania.com. "Pennsylvania's online sportsbooks have been savvy in keeping their customers engaged with sports well outside the mainstream. Tat will only help when things begin to return to normal."
FanDuel Sportsbook at Valley Forge Casino once again topped the market with a May handle of $29.6m, up from $19m in April. Tose bets fueled $2.5m in taxable revenue, up from $1.3m. DraftKings at Te Meadows generated a $21.8m handle, up from $12.6m. Online casinos and poker rooms set a fresh record with $55.9m in gross revenue, Up 29.7 per cent from $43.1m in April and nearly triple from $19.5m in February. A remarkable $1.8bn was bet on online in May — up from $1.4bn in April. Operators, though, were still out of the $286.1m land-based casinos generated in May 2019.
"As welcome as the online revenue has been, it can't come close to replacing what was lost with the shutdown of land-based casinos," Cross said. "So far early signs are good for Pennsylvania's land-based casinos, but they are still navigating diminished capacity and uncertain demand as they reopen. For that reason, online casino games and poker will remain critical in bridging revenue gaps as Pennsylvania casinos recover."
brand purchased all rights to the Hard Rock brand and related trademarks in Las Vegas from Houston-based private equity firm, Juniper Capital, which purchased the Hard Rock Hotel & Casino Las Vegas in 2018 from Brookfield Asset Management. Te purchase gives Hard Rock International the right to develop a Hard Rock branded casino and resort within Clark County.
Te transaction also allows HRI exclusive full rights to memorabilia, signage and merchandise, along with intellectual property rights for affiliated restaurant and entertainment trademarks and website domain names.
Te off-strip Hard Rock casino closed in Las Vegas in February to undergo renovations and reopen as Virgin Hotels Las Vegas in Autumn.
Nevada
On the heels of reopening its first three Las Vegas properties, MGM Resorts International reopened the Luxor and Te Shoppes at Mandalay Bay Place on June 25. Tey will be followed by ARIA, and Mandalay Bay, Four Seasons Las Vegas on July 1. "It was exciting and emotional to see the energy in Las Vegas as we welcomed back our employees and reopened our doors to guests for the first time in months," said Bill Hornbuckle, MGM Resorts' Acting CEO and President. Luxor, Mandalay Bay, Four Seasons Las Vegas and ARIA join Bellagio, MGM Grand and New York-New York, opened at the start of June, while the Excalibur opened on June 11. Guests can take advantage of pool areas and dining with some amenities being limited at this time according to MGM Resorts' comprehensive "Seven-Point Safety Plan."
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