Wire NORTH AMERICA
Kentucky Sports Betting Market Opens
Nevada - Revenues soar to record levels July saw record temperatures and record gaming revenue for Nevada as the state and the Las Vegas Strip generated their best ever revenues. Nevada’s total came in at $1.4bn, up by 6.7 per cent or $88m, compared to last year, fuelled by the third best slot revenue in history and the best baccarat hold since 2003.
The Las Vegas Strip generated $1.2bn, up eight per cent from July 2022. The previous best total for the state was $1.35bn recorded in July 2021, meaning July 2023 was better by $44.9m, or 3.3 per cent. For the year so far, Nevada is up 4.1 per cent with the Strip up 6.5 per cent. July marked the 29th consecutive month that Nevada’s GGR surpassed $1bn, up 37 per cent from the pre-pandemic July 2019.
Michael Lawton, a senior economic analyst with the Nevada Gaming Control Board, commented: “This month’s record amounts were driven by slot win. Although it wasn’t an all-time record, it was the third highest total all-time for the state and the second highest total for the Strip.”
Maryland - Casino revenues fall Maryland’s six casinos combined to generate $161m in revenue from slot machines and table games during August 2023, down $8m, or 4.7 per cent, compared to August 2022. Casino gaming contributions to the state in August 2023 totalled $68m a decrease of $2,7m, down 3.9 per cent compared to August 2022.
Maryland’s six privately owned casinos offer both slot machines and table games: MGM National Harbor in Prince George’s County; Live! Casino & Hotel in Anne Arundel County; Horseshoe Casino Baltimore in Baltimore City; Ocean Downs Casino in Worcester County; Hollywood Casino Perryville in Cecil County; and Rocky Gap Casino Resort in Allegany County. MGM National Harbor led the market with 2,301 slot machines, 209 table games and revenues of $68.3m.
Oregon - L&W to place 1,000 VLTs with Lottery Light & Wonder has finalised a purchase agreement with the Oregon Lottery which will result in the placement of more than 1,000 Video Lottery Terminals (VLT) in the state. The agreement comes on the heels of the successful completion of an extensive trial phase where the KASCADA VLTs were introduced to a test market in Oregon.
The trial’s success paved the way for the placement of 1,175 of these gaming machines throughout the state. They will house games such as Blazing Hot Celebrations, Lightning Tusks, American Original, Bier Haus, amd American Original Stars & Bars.
P20 WIRE / PULSE / INSIGHT / REPORTS
September saw the the opening of in-person sports wagering in Kentucky, together with the grand opening of Caesars Sportsbook at Red Mile.
September marked the opening of in-person sports wagering in Kentucky, with Gov. Andy Beshear celebrating the historic moment by placing the first bet at Churchill Downs. Te Governer placed a $20 parlay bet for the over on wins for the University of Kentucky and University of Louisville football teams, and the under on Duke University’s football team.
“Today is a great day to celebrate and have a little bit of fun doing so,” said Gov. Beshear. “It has taken many years to get here, but sports wagering is finally a reality in Kentucky. Tis is a win-win for Kentuckians, who can enjoy a quality entertainment experience and benefit from funds staying right here in our state to help us build a better Kentucky.”
Caesars Entertainment, in partnership with Keeneland and Red Mile Gaming & Racing, celebrated the grand opening of Caesars Sportsbook at Red Mile. Te 4,600-square-foot sportsbook in Lexington is the only retail sportsbook in Central Kentucky. Appearing once again, Governor Andy Beshear placed the ceremonial first bet alongside Chairman Jonathan Rabinowitz of the Kentucky Horse
Nevada
With the $3.8bn Fontainebleau Las Vegas set to open on the Las Vegas Strip in December, developers Fontainebleau Development and Kock Real Estate have revealed its interior and exterior architects, including Carlos Zapata Studio, David Collins Studio, Rockwell Group, Lissoni & Partners, Jeff Leatham, Lifescapes International, and Jeffrey Beers International.
Fontainebleau’s Brett Mufson said: “Tis dream could be realised only by partnering with designers that bring an unrivalled depth of knowledge and skill to the project, and a shared history of successful collaborations with Fontainebleau Development.”
Te 67-story luxury resort will have 3,644 rooms/suites and a 150,000 square-foot casino.
Racing Commission, Caesars, Keeneland, and Red Mile representatives.
Open seven days a week, Caesars Sportsbook at Red Mile is a state-of-the-art Vegas-style sportsbook featuring five betting windows and an elevated bar area complete with wall-to- wall flatscreen televisions on the first floor and 14 self-service betting kiosks throughout the gaming floor and simulcasting areas.
Te second level of the venue includes an elevated atmosphere with a variety of comfortable seating arrangements for larger sporting events, views of the racetrack, and full food & beverage service throughout the space.
Meanwhile, Sportradar Group has announced the Kentucky Horse Racing Commission granted US betting subsidiary, Sportradar Solutions, a Temporary Sports Wagering Services License for the state of Kentucky. Sportradar now holds 47 licences, or equivalent, in North America across US states, territories, tribes, and Canada, advancing transparency and integrity and delivering accurate sports data to sanctioned sports betting and gaming agencies.
Canada Century Casinos completes sale of four properties
Century Casinos completed the sale of the real estate assets of Century Casino & Hotel Edmonton, Century Casino St. Albert and Century Mile Racetrack and Casino in Edmonton, Alberta and Century Downs Racetrack and Casino in Calgary, Alberta to subsidiaries of VICI Properties for an aggregate purchase price of US$162.4m in cash.
Te company retained approximately US$$113.2m of the purchase price after giving effect to the purchase of the Century Downs land, selling expenses, Canadian and US taxes and proceeds to be paid to the minority owners of Century Downs.
Simultaneous with the closing of the transaction, the Century Canadian Portfolio was added to the existing triple-net master lease
agreement between subsidiaries of VICI and subsidiaries of the company and annual rent will increase by US$12.7m.
Te annual rent escalator related to the Century Canadian Portfolio is capped at 2.5 per cent. Additionally, the term of the Master Lease will be extended such that, upon closing of the transaction, the lease will have a full 15-year initial base lease term, with four five-year renewal options.
“We are pleased to extend our good partnership with VICI to our Canada portfolio,” Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos, said. “Tis transaction provides us with the ability to pay down our debt and with greater financial flexibility.”
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