Wire NORTH AMERICA
Commercial Gaming hits Quarterly Record
New York - Project renderings for Coney Island Saratoga Casino Holdings, Global Gaming Solutions, Legends and Thor Equities, the developers behind the proposed Coney Island casino in New York, have released new project renderings for their project. New images depict a 500-room hotel, a 2,500-seat concert venue, high-end restaurants, 90,000 square feet of meeting and event space and a public green space.
Sam Gerrity, CEO of Saratoga Casino Holdings, said: “Situated in the middle of a preexisting entertainment district steps away from one of NYC’s most iconic historical landmarks, The Coney just makes sense.”
Louisiana - Cordish appoints The Cordish Companies has announced the appointment of gaming industry veteran John Chaszar as Executive Vice President and General Manager of Live!
Casino & Hotel Louisiana, a $270m world-class gaming, dining, hotel, and entertainment destination set to open in Bossier City in the first quarter of 2025.
In his new role, Mr. Chaszar will manage the development, grand opening, and day-to-day operations of the first land-based casino property in the Shreveport-Bossier market. With over three decades of gaming and resort operations experience, Mr. Chaszar has held leadership positions with several notable entertainment and hotel companies across the country in Louisiana, Texas, Mississippi, Missouri, Kansas, Indiana, Colorado, Illinois, and South Carolina.
Texas - ESPN BET sponsors PGA of America The PGA of America and PENN Entertainment have penned a multiyear sports betting partnership. Under the agreement, ESPN BET becomes the Official Sports Betting Sponsor of the PGA Championship through 2026. The 2024 PGA Championship took place at Valhalla Golf Club in Louisville, Kentucky from May 16-19. The agreement marks a milestone for the PGA Championship as it becomes the first men’s golf major to establish an official sports betting sponsor.
“We’re pleased to be the PGA of America’s first ever gaming partner and align ESPN BET with this prestigious men’s golf major,” said Jason Birney, VP of Operations, PENN Interactive. “We look forward to accessing highly engaging touchpoints to bring ESPN BET onto the course and into the PGA Championship broadcast on ESPN.
The 2025 PGA Championship will be contested at Quail Hollow Club in Charlotte, North Carolina, while Aronimink Golf Club in Newtown Square, Pennsylvania, will host the 2026 PGA Championship.
P18 WIRE / PULSE / INSIGHT / REPORTS
US commercial gaming revenue reached a quarterly record of $17.67bn, with 11 state gaming markets setting new records.
US commercial gaming revenue reached a quarterly record of $17.67bn in Q1 2024, the industry’s 13th consecutive quarter of growth, according to the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker. Te quarter was boosted by March revenue of $6.09bn, the industry’s second-highest grossing month ever.
“While gaming’s momentum remains strong, 2024 will be the new baseline for future growth after several years of sports betting legalisation and post-pandemic consumer shifts,” said AGA President and CEO Bill Miller. “Gaming’s continued growth relies on maintaining our commitment to innovation and responsibility.”
Across the country, 11 state gaming markets set new quarterly revenue records, including Pennsylvania and New York, two of the nation’s largest commercial gaming markets. Both retail and online gaming saw annual growth in Q1 2024, though at slower rates than in previous quarters. Retail gaming accounted for 70.7 per cent of total revenue while online gaming represented its largest share ever, 29.3 per cent. Looking closer at each sector:
Pennsylvania
Te Pennsylvania Gaming Control Board (PGCB) has approved
4TePlayer.com’s participation in the Commonwealth’s iGaming market.
Te achievement marks a key step in their strategic US market expansion and underscores
4TePlayer.com’s commitment to growing its presence in the regulated US market. Pennsylvania is the fourth market, following New Jersey, Michigan, and Connecticut, to license 4TePlayer’s entertainment-focused games.
Chris Ash, the Business Development Director and co- founder of
4TePlayer.com, said: “After the success we have seen with these titles in other states, we are excited for players in Pennsylvania to play them!”
Traditional brick-and-mortar casino gaming generated quarterly revenue of $12.34bn, a modest increase of 0.3 per cent year-over-year that was hampered by severe January weather in regional gaming markets nationwide.
Of the 33 operational commercial gaming jurisdictions that had complete data available through March, 23 witnessed an increase in first quarter revenue compared to 2023. Notably, eleven states achieved new revenue records for a single quarter, including two of the nation’s largest commercial gaming markets: Pennsylvania and New York.
Among the markets experiencing year-over- year declines in quarterly revenue, sports betting-only markets such as Washington, D.C., down 9.5 per cent, New Hampshire, down 10.3 per cent and Montana, down 34.9 per cent generally saw the most significant drops. In contrast, more diversified and traditional gaming markets like Iowa, down two per cent, Mississippi, down 2.1 per cent, Indiana, down 2.1 per cent, Rhode Island, down 3.3 per cent, Missouri, down four per cent and New Mexico, down 4.1 per cent.
Nevada Brightstar Capital Partners to buy AGS for $1.1bn
PlayAGS has signed a definitive agreement to be acquired by affiliates of Brightstar Capital Partners, a middle market private equity firm focused on investing in industrial, manufacturing, and services businesses.
Te company’s Board of Directors has unanimously approved, and recommended that the company's stockholders approve, the agreement. AGS shareholders will receive $12.50 per share in cash, representing a 41 per cent premium to the company’s volume- weighted average share price over the previous 90 days
“We are very pleased to reach this agreement, which we believe provides our stockholders with compelling, certain cash value. Joining forces with Brightstar represents an exciting new chapter
for AGS and our mission to provide exceptional gaming solutions for our operator partners,” said David Lopez, CEO & President of AGS.
“With Brightstar’s resources and strategic guidance, we believe AGS will be well-positioned to make targeted investments in R&D, top talent, operations, and industry- leading innovation, which should accelerate our global footprint.”
“We have been impressed by AGS’ award-winning products, differentiated culture, and outstanding reputation in this expanding industry,” said Roger Bulloch, Partner at Brightstar. “We trust that partnering with AGS and executing on our shared vision can accelerate the company’s ability to create even greater value for its customers and players around the world.”
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