Sports-Betting Future in US Debated
Te AGA has emphasised that federal oversight of sports betting is unnecessary in ongoing efforts to create effective legal sports betting markets in the US
Te American Gaming Association addressed a House Judiciary subcommittee to discuss sports-betting in the US post-PASPA
NEVADA SPORTS-BETTING
During testimony at the House Judiciary Subcommittee on Crime, Terrorism, Homeland Security, and Investigations hearing, “Post- PASPA: An Examination of Sports Betting in America,” Sara Slane, AGA Senior VP of Public Affairs (pictured) said: “Because of the active, robust state and regulatory tribal gaming oversight, gaming is one of the most strictly regulated industries in America. Right now, over 4,000 gaming regulators with budgets that exceed $1.3bn oversee the gaming industry.”
In partnership with teams, leagues and regulators, gaming operators have successfully protected the integrity of both bets and competitions for decades in Nevada. AGA’s continued position of support for state and tribal regulators was echoed in testimony by Nevada Gaming Control Board’s Chairwoman, Becky Harris.
“I don’t think that right now is the time for any kind of federal engagement with regard to gambling,” said Chairwoman Harris. “States do a great job in every area including sports betting and we’ve just begun to see the roll out in other states. Nevada has a comprehensive regulatory structure that has been refined over decades, and we have a lot of integrity in our process.”
JCM Global signs supply agreement with Eldorado Resorts
Nevada
JCM Global has signed an exclusive master supply agreement with Eldorado Resorts to provide its bill validators and printers for all 26 Eldorado gaming properties in the US. Te agreement is an expansion of existing relationships between JCM and certain Eldorado properties and a conversion for other properties. JCM will provide its iVIZION and UBA bill validators and its GEN5 and GEN2U printers. Eldorado has also been using JCM’s award- wining ICB Intelligent Cash Box system at many of its properties.
“Te source of Eldorado’s continued success is our focus on innovative ways to interact
Gaming is largely regulated by state and tribal governments across the country.
“Just as Congress has refrained from regulating lotteries, slot machines, table games and other gambling products, it should leave sports betting oversight to the states and tribes that are closest to the market,” continued Slane. “With such robust and rigorous regulatory oversight at both the state and federal levels, there is no need to overcomplicate or interfere with a system that is already working.”
Transforming the illegal, underground sports betting market into an open, legal market under state and tribal regulatory oversight will accomplish critical public policy goals. Tese include protecting consumers by ensuring that sports betting is fair, safe, transparent and accountable. It will increase transparency – by giving state and tribal regulators the power to oversee betting. Tere will be enhanced sports integrity by providing regulators, sports leagues and law enforcement with the technology, insight and tools they need to monitor, identify and shut down any suspicious or illegal betting activity; and it will generate jobs and tax revenues – by giving communities new ways to boost local economies.
with our loyal customer base,” said Anthony Carano, Executive Vice President and Chief Operating Officer of Eldorado Resorts, Inc. “Te JCM/ERI relationship is an important part of providing our guests with the unbelievable experience they expect from Eldorado Resorts.”
“We are humbled that Eldorado Resorts has chosen JCM and JCM products for its enterprise-wide transaction strategy,” said JCM Sr VP of Sales and Operations Dave Kubajak. “Operators worldwide – in gaming, banking, and other industries – trust and rely on JCM’s award-winning products to provide the perfect combination of security and player convenience along with unsurpassed service. Te end results are transactions that are secure, accurate, compliant, and increase connections between operator and patron.”
US
Wynn Resorts has entered into a strategic partnership with BetBull, a Europe-based digital sports betting operator, to pursue sports betting opportunities in the emerging US market. Te strategic partnership will position both parties to capitalise on the developing US opportunity by combining Wynn Resort’s nationally recognised brand with BetBull’s digital sports betting operations capabilities and technology.
In conjunction with the formation of the strategic partnership, Wynn Resorts will make a minority equity investment in BetBull. Wynn Resorts will own 22.5 per cent of BetBull on a fully-diluted basis upon closing of the investment which will occur in due course subject to customary closing conditions. Moelis & Company LLC acted as financial advisor to Wynn Resorts.
ILLINOIS – SUZOHAPP has partnered with Everi Payments to offer a fully integrated solution that will accelerate and advance cash management and automation within the gaming industry. The SUZOHAPP - Everi partnership combines to give casino customers an unprecedented end-to-end cash management solution. Their partnership has also born an ambitious plan to develop a vertically integrated cash automation management solution that captures all activities within the cash life cycle and ties it to core accounting systems.
“Operational visibility in cash management is a critical concern in the gaming industry,” says Darren Simmons, SVP – Payment Solutions for Everi. “This partnership with SUZOHAPP is an opportunity for both companies to offer Casino customers a unique solution that seamlessly integrates front of the house with back of the house cash operations, maximizes visibility throughout the entire cash management process, and ultimately helps casinos efficiently monitor, process, and forecast their cash.”
SUZOHAPP’s cash automation devices are powered by CashComplete Connect (CCC), providing cutting- edge functionalities such as SmartGroups - a work unit reporting and visibility division parameter that provides flexibility to even the most complex cash operations. On the CCC platform, Everi will be able to fully support casino operators by leveraging their casino cash domain expertise, service team footprint and extensive customer service network.
ILLINOIS – Illinois-based investment fund Z Capital Partners has offered to buy regional casino operator Full House Resorts for $132.5m in a cash and stock transaction. Z Capital CEO James Zenni said Full House’s five casino-operation would be merged into Las Vegas-based Affinity Gaming, which Z Capital took private in 2017.
Full House officials acknowledged receiving the letter and said the board would consider the “expression of interest in due course. The expression of interest reflects a price that is significantly below recent and past trading of (Full House) stock and well below most expectations for the value of the company,” Full House said.
Affinity operates 11 casinos in four states – Nevada, Colorado, Missouri and Iowa. Las Vegas-based Full House’s casinos are in four states – Nevada, Mississippi, Indiana and Colorado.
Full House, which is headed by CEO Dan Lee, is in the process of expanding its Bronco Billy’s casino in Cripple Creek, Colorado, and recently made an offer to build a racetrack, casino, luxury hotel, and golf course complex near Clovis, New Mexico. The company is also exploring opportunities in Washington State.
NEWSWIRE / INTERACTIVE / MARKET DATA P29 NORTH AMERICA
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