News

GMA quoted in GGB News

Leaving Las Vegas: Sands’ $6.25 Billion Exit

by James Rutherford

The Las Vegas Strip exists today largely in the mold that Las Vegas Sands fashioned for it, and certainly, there’s been plenty to say over the last week about the company’s $6.25 billion decision to leave.  There’s been no shortage of questions.  The most compelling: Why did the company sell?

The deal didn’t come from out of the blue.  Bloomberg News had an inside track on it back in the fall, even down to the sale price and the likelihood of a split owner/operator transaction involving a real estate investment trust (REIT) – two of which, VICI Properties and MGM Growth Properties, already own most of the Strip’s resort casinos.

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GMA quoted in the Las Vegas Review Journal

Sands’ $6.25B sale of Strip assets is a good sign for Las Vegas, experts say

by Bailey Schulz

The sale of Las Vegas Sands Corp.’s Strip assets is a positive sign for its namesake city, industry experts say.

The company announced Wednesday that is is selling its Las Vegas properties to Apollo Global Management Inc. and Vici Properties Inc. for $6.25 billion – a price tag large enough to show there’s still value in the Las Vegas market.

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GMA quoted in CDC Gaming Reports

Cordish and Bally’s bid on a casino project in Richmond – Virginia’s last open gaming site

By Howard Stutz

The last remaining Virginia city that state lawmakers approved for a casino resort is being wooed by two of the gaming industry’s high-profile operators.

Baltimore-based Cordish Cos., and Rhode Island- based Bally’s Corp., entered the bidding process Monday for a planned Richmond casino that could result in a multimillion-dollar gaming project in the commonwealth’s capital city.

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GMA quoted in the Omaha World Herald

Sports betting surges at Iowa casinos.  Will it come to Nebraska next?

by Steve Liewer

Less than three years ago, Nebraskans who wanted to bet on sports legally had no choice but to book a flight to Las Vegas.

Then in May of 2018 the Supreme Court struck down Nevada’s congressionally approved sports betting monopoly.  The following year, neighboring Iowa became the 11th state – and the first in the Upper Midwest – to legalize sportsbooks.

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GMA quoted in the Las Vegas Review Journal

Penn signs 20-year sports wagering deal with New York casino

by Richard N. Velotta

If New York lawmakers approve mobile sports wagering, Penn National Gaming Inc. is ready.

The Wyomissing, Pennsylvania-based regional gaming company on Monday announced it has entered a 20-year strategic partnership with Capital Region Gaming LLC, which operates the Rivers Casino & Resort in Schenectady, New York.

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GMA quoted in the Las Vegas Review Journal

MGM resuming 24-7 operations at 3 Strip properties

by Bailey Schulz

MGM Resorts International is set to ramp up operations to match growing travel demand to Las Vegas.

The Mirage, Mandalay Bay and Park MGM are set to expand hotel operations to operate 24-7 starting March 3.  All three Strip properties have been operating with their hotel towers shuttered midweek.

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GMA quoted on PlayUSA.com

A Basic FAQ to Playing Online Poker in Michigan

by Brant James

Michigan online poker finally became a reality on Jan. 29 as PokerStars went live a week after online gambling launched – and business has been booming.

“The recent court ruling on the Wire Act out of the First Circuit provided some further cushion to the online gaming market across the country including in Michigan,” Brendan Bussmann, governmental affairs director at Global Market Advisors told PlayUSA.  “It is an opportunity compliment gaming revenue in the state include through online poker that has shown success across state borders through the compact.”

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GMA quoted on iGaming Business online

Industry 2021 predictions: part two – land based operators and suppliers

As we look to the year ahead, industry experts share their thoughts on the opportunities and challenges facing the industry.

In part two we talk to land-based operators and suppliers, while in parts three to eight we will cover finance, marketing, people, technology and innovation, regulation and social responsibility.

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GMA quoted in CDC Gaming Reports

Revisions aside, maybe it’s time to get rid of the ‘archaic’ Wire Act altogether

By Howard Stutz

Nearly 60 years have passed since Congress created the Federal Wire Act.  U.S. Attorney General Robert Kennedy pushed the legislation as a deterrent to organized crime by making the transmission of interstate gambling information illegal.

But the Wire Act has outlived its usefulness.

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GMA quoted in the Las Vegas Review Journal

Easing casino floor restrictions seen as move in right direction

By Bailey Schulz and Mike Shoro

Las Vegas casino floors are set to return to a 50 percent occupancy limit by mid-March, a move industry watchers say offers a glimpse of hope on the gaming and hospitality industries’ road to recovery.

The easing of restrictions comes just in time for Las Vegas’ busy season, with events such as March Madness, pool season and major convention bookings on the horizon.

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