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Wire NORTH AMERICA


Florida and Seminoles Strike $20bn Deal


In a deal worth up to $20bn over 30 years the Florida Senate has allowed the Seminole Tribe to offer sports betting and add roulette and craps to its casinos.


An further bill allows additional locations to continue to operate slots and card rooms without holding live events in Miami-Dade and Broward counties.


MIAMI OPERATIONS


MICHIGAN – Having successfully completed its first quarter of operations in Michigan, Golden Nugget Online Gaming generated $26.7m during its first quarter, representing an increase of 54.2 per cent, compared to $17.3m during the first quarter of 2020. Net income was $69.6m after gains on warrant derivatives liabilities of $81.1m, a gain on the tax receivable agreement liability of $1.3m and debt extinguishment expenses of $2.2m.


President Thomas Winter said: "We are very pleased to start 2021 with such strong results across both our established and new expansion markets. We believe we are well positioned to capitalise on the fast growing market for iGaming across North America. We expect that 2021 will be a milestone year for the company as we are on target to be live in six states by the end of the year, including all four key iGaming states."


Chairman and CEO, Tilman Fertitta added: "The future is very bright for Golden Nugget Online Gaming as we achieved another record quarter in revenue and with our newly announced partnerships in Colorado and Iowa, we now have market access in 12 states, representing approximately 29 per cent of the US population."


NEW JERSEY – LeoVegas has entered into an agreement to launch its brand in New Jersey. The state will mark the company's first establishment in the US. LeoVegas will launch with its proprietary technical platform and expects to accept its first US customers during the first half of 2022.


In pace with expectations that North America will become the world's largest regulated gaming market, LeoVegas is now establishing operations in the US. LeoVegas will now offer online casino in the state of New Jersey through an agreement with Caesars, which provides market access.


LeoVegas will use its proprietary technical platform, Rhino, for its establishment in the US. This strategic choice gives the company full control over the product and will enable a unique and competitive gaming experience for American customers. As part of the process of launching LeoVegas in the US, the company's platform will be certified by the regulatory authorities in New Jersey.


Gustaf Hagman, Group CEO LeoVegas, added: "We are proud to finally be able to share our plans to establish ourselves in the US. We think the time and partner are right to launch 'The King of Casino' in the US. The American market has immense growth potential, and players are just now discovering online gaming. In the UA, too, we will focus on what we are best at – offering an innovative gaming experience directly to mobile phones.”


P22 WIRE / PULSE / INSIGHT / REPORTS


Te Florida Senate has passed Senate Bill 2-A, Implementation of the 2021 Gaming Compact between the Seminole Tribe of Florida and the State of Florida. Te legislation ratifies the 2021 Gaming Compact executed by the Seminole Tribe of Florida and Governor DeSantis on behalf of the State of Florida on April 23, 2021, as amended on May 17, 2021.


Te Compact creates a new revenue-sharing agreement with a US$2.5bn guarantee in the first five years. Te Compact authorises craps and roulette games at Seminole properties, additional facilities on the Tribe’s Hollywood Reservation, and statewide online sports betting in partnership with existing pari-mutuels.


Te Senate also passed SB 4-A, Gaming Enforcement, which establishes additional enforcement measures to address violations of gambling laws and the conduct of unauthorised gaming in the state, including the creation of an independent five-member Gaming Control Commission. Te bill also grants additional investigatory and prosecutorial authority to the Office of Statewide Prosecution in the Department of Legal Affairs. SB 8-A, Gaming, updates Florida law for authorised gaming in


BetMGM named as betting partner for Baltimore Ravens


Maryland


Te Baltimore Ravens and BetMGM have announced a multi-year partnership with BetMGM becoming the Ravens’ first Official Gaming Partner. Te parties will collaborate to create cobranded promotions for Ravens fans. BetMGM branded signage will be present throughout M&T Bank Stadium, digital media, and integrated social media content.


“When we began the process of carefully identifying sports betting and digital gaming partners, one of our top priorities was finding unique ways for Ravens fans to further engage with the team,” said Ravens Chief Sales Officer Kevin Rochlitz. “We are excited to partner with BetMGM and look forward to the specialised


the state, including live racing and games, slot machine gaming, and the operation of cardrooms. Specifically the bill decouples greyhound, jai alai, harness, and quarter horse racing; eliminates dormant pari-mutuel permits; and prohibits the issuance of new pari- mutuel permits.


“By comprehensively addressing issues raised for almost a decade, this historic legislation restores Florida’s relationship with the Seminole Tribe, offers new opportunities for Florida’s legacy pari-mutuel industry, and provides substantial new revenues for our state,” said Senate President Wilton Simpson (R- Trilby). “After years of negotiations and the hard work of many people, I’m pleased to see this significant legislation pass the Senate.”


“I’m grateful to my Senate colleagues for their strong support of this historic Compact,” said Senator Travis Hutson (R-St. Augustine), Chair of the Senate Committee on Regulated Industries. “Not only are we beginning a new 30-year agreement with the Seminole Tribe, but we are also making needed updates to Florida law to better reflect the current gaming climate and combat illegal gambling.”


entertainment the company will provide for our fans.”


Under terms of the partnership, BetMGM will have a private hospitality suite within M&T Bank Stadium. Additionally, the BetMGM app will feature Ravens specific promotions and marketing campaigns.


BetMGM Chief Revenue Officer Matt Prevost said: “Te Ravens are an incredible organisation with a rich history, and we're proud to have BetMGM as the team’s first official partner in the gaming space. We look forward to offering Ravens fans new ways to engage with their favorite football team on our platforms.”


Maryland residents voted in favour of a referendum to legalise sports betting in November 2020. While mobile and retail sports betting has been legalised, the regulatory framework in the state is currently being established.


California


Construction on California’s newest Indian gaming casino, is expected to break ground on Highway 99 near Madera before the end of June with the North Fork Mono Indian tribe building the $400m property that will be managed by Red Rock Resorts, owner of Station Casinos. Te 2,000 slot casino will also offer 40 table games, a 200-room hotel, restaurants, an entertainment lounge, retail space and meeting rooms. Initially put forward by the tribe in 2003, the Madera casino is located between Madera and Chowchilla on the Tribe’s ancestral lands but has been delayed by a long-running legal battle, which was only recently concluded. “We continue to expect to have a shovel in the ground in the second quarter of 2021 with the construction expected to take 15 to 18 months,” said Stephen Cootey, Red Rock’s chief financial officer.”


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