Wire NORTH AMERICA
Monarch Reports Another Record Quarter
Monarch Casino Resort reported another record quarter in Q3, generating net revenue of $111.6m, an increase of 86.5 per cent from $59.9m the prior-year.
“We are evaluating acquisition opportunities where we can fully leverage our development expertise and operational excellence,” John Farahi, Monarch.
US LAND-BASED
Pennsylvania - Sportsbook surge in September Betting volume at Pennsylvania’s online and retail sportsbooks in September hit $580m for the second time. A spike was inevitable during the first full month of football, but the surge in online casino gambling — which produced more than $110m in revenue — is indicative of an industry that continues to grow.
Kansas - Boot Hill Casino ownerships secured Butler National Corporation, a provider of professional management services in the gaming industry, has announced its subsidiary, Butler National Service Corporation (BNSC) closed on the purchase of the minority equity ownership interest in BHCMC, LLC, (BHCMC) that results in BNSC being the sole owner of BHCMC, manager of the Boot Hill Casino & Resort in Dodge City, Kansas.
US - SIS double appointments SIS has appointed two new non- executive directors to support its international expansion. Dr Laila Mintas is currently CEO of Play Up USA and is a former Deputy President of Sportradar USA. Dr Mintas will be joined by Giovanna D’Esposito, who is currently General Manager (Southern Europe) for Uber. She previously held managing director roles in Italy for Sky Betting
and Paddy Power Betfair. Both women bring many years’ experience of working at some of the world’s leading data and technology companies to their roles and add significant strength to the SIS board.
New Jersey - Hall of Famer Gaming Laboratories International’s
(GLI) Director of Lottery Solutions, Angela Wong will be inducted into the PGRI Lottery Industry Hall of Fame. Wong was chosen for the
honour by the Hall’s current 94 members, who voted for and elected three industry leaders to be inducted into the Class of 2021.
Wong was chosen for the honour because of her long history of promoting excellence and integrity in the lottery industry. Also in the 2021 class are Wendy Montgomery, SVP, Global Brand, Marketing and Communications, IGT, and John Schulz, SVP, Instant Products and Partner Services, Scientific Games.
US - Bally’s pens for NHL partnership deal The Nashville Predators and Bally’s has entered into a partnership designating Bally’s as an Official Sports Betting Partner and the Official Free-to-Play Partner of the Nashville Predators and Bridgestone Arena. The partnership, which runs through 2025, will grant Nashville Predators intellectual property rights to Bally’s, as well as provide Bally’s with access to team logos, marks and certain content rights.
P18 WIRE / PULSE / INSIGHT / REPORTS
Monarch Casino Resort, owner of casinos in Colorado, Denver and Reno, reported another record quarter in the third quarter, generating net revenue of $111.6m, an increase of 86.5 per cent from $59.9m in the prior-year quarter.
F&B and hotel revenues increased 71.4 per cent, 102.3 per cent and 162.2 per cent year-over- year, respectively. Te increase in revenues was driven primarily by the ongoing ramp up in business at the company’s hotel and expanded casino in Black Hawk. In Q3 of 2020, Atlantis and Black Hawk revenues were negatively impacted by pandemic-related capacity and other regulatory limitations which remained in effect following the properties’ reopening.
John Farahi, Co-Chairman and Chief Executive Officer of Monarch, commented: “Monarch again delivered record financial results as our third quarter benefited from the strong ongoing pandemic recovery, economic and population growth in Denver and Reno, and the notable impact of the removal of betting limits in Colorado. Our focus on operational excellence and market-leading amenities has enabled us to leverage these tailwinds and drive consistent growth. Labour shortages and wage pressure, as well as supply chain constraints and price inflation, remain headwinds. Atlantis operation in Reno was impacted by unhealthy air quality from the California fires and Nevada’s decision to reinstate indoor mask mandates.
Evolution and Betway strengthen partnership in the US
US
Evolution has announced that it has signed an agreement with Super Group owned Betway for the provision of Evolution’s online live casino and ‘First Person’ RNG-based casino games in the states of New Jersey and Pennsylvania.
Betway has entered the US market through an exclusive brand licensing agreement with Digital Gaming Corporation.
Te Evolution-Betway deal will see Evolution online live casino games and ‘First Person’ casino games made available to Betway players on desktop,
“Net revenue and Adjusted EBITDA in the third quarter of 2021 were $111.6m and $40.3m, respectively, reaching all-time highs for the second consecutive quarter, as each of our properties generated record net revenue and Adjusted EBITDA. For the second quarter in a row, we also achieved a record Adjusted EBITDA margin of 36.1 per cent.
“Our Black Hawk operations are ramping up, and we are working diligently to complete the legacy facility transformation by year-end. Tis addition will increase casino space by approximately 25 per cent and restaurant seating by approximately 35 per cent. In just a short time, the property has established itself as the leading casino resort in the greater Denver market, and we continue to grow market share.
“Te May 2021 removal of the Colorado table game bet limit and the addition of Baccarat to our table game mix have resulted in an increase in new customer visitation, particularly high value players from across the Front Range. We have been able to manage the labour shortages and operate the hotel, and food and beverage outlets at full capacity on our busiest nights.
“With the Monarch Black Hawk construction project nearing completion, we are evaluating acquisition opportunities where we can fully leverage our development expertise and operational excellence.”
tablet and smartphone in the two states. In addition, Betway players will be able to enjoy Evolution’s ‘First Person’ RNG- based versions of the live games. Betway is already live with Evolution Group brand NetEnt in New Jersey and Pennsylvania, offering a selection of slots titles.
“Betway customers in New Jersey and Pennsylvania will be able to enjoy playing our Evolution-powered online casino games in their homes and while on the move,” Betway CEO, Anthony Werkman, commented. “Having worked with Evolution for many years, we are confident that players in New Jersey and Pennsylvania will be very excited indeed by our US-focused online games offered in a fair, safe, secure and responsible environment.”
US
Mohegan Sun celebrated its 25th Anniversary weekend on October 23 with Harry Styles performing in the 10,000-seat Mohegan Sun Arena. During Mohegan Sun’s 25-years, the resort has grossed more than US$27bn and attracted nine million guests per year. Te latest additions to Mohegan Sun include the TAO Asian Bistro & Lounge, located in the Sky Tower Lobby, and the all-new Mohegan Sun FanDuel Sportsbook at Bow & Arrow Sportsbar. Online casino games at
MoheganSunCasino.com, including iOS and Android apps, launched in mid-October. Sports wagering, both at the Mohegan Sun FanDuel Sportsbook on-site at Bow & Arrow Sportsbar, and online through a partnership with FanDuel, also launched this autumn.
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