These seven trending gaming industry stories will impact your casino revenue strategy.
1. Eldorado Resorts Closes the Deal with Caesars for $17.3 Billion
Eldorado Resorts announced that it is merging with Caesars Entertainment in a $17.3-billion deal that will create one of the largest gaming companies in the United States. The new casino giant will use the Caesars name, be based in Reno, and all of its top leadership will come from Eldorado.
Eldorado, which currently operates 26 casinos in 12 states, has been active in the acquisition market over the last two years, according to CDC Gaming Reports. In 2017, Eldorado acquired Isle of Capri Resorts for $1.7 billion, and last year, the company bought seven casinos from Tropicana Entertainment for $1.85 billion in a joint venture with Gaming and Leisure Properties, and added the Grand Victoria Casino in Elgin, Illinois, for $327.5 million.
Caesars operates close to 40 casinos in 13 states, including nine resorts on or near the Las Vegas Strip.
2. VICI Snags Three Harrah’s Properties
As part of the Eldorado/Caesars deal, VICI Properties Inc. (the real estate investment trust spun off from Caesars in 2017) is buying the real estate assets of Harrah’s New Orleans, Harrah’s Laughlin and Harrah’s Atlantic City from Eldorado for $3.2 Billion.
3. Wynn Debuts New Boston-Area Casino
After years of anticipation and controversy, Wynn Resorts finally opened it $2.6-billion casino near Boston earlier this month. The company expects to continue to pack the resort with 15,000 to 20,000 people a day, many from outside the U.S, reports Bloomberg.
According to CEO Matt Maddox, the Encore Boston Harbor casino— perched along the Mystic River in Everett, Massachusetts—is “the first large-scale integrated resort in a major metropolitan area in the United States.”
4. Ocean Casino Resort Poised for Comeback
Thanks to its new owner, Luxor Capital, plus a rebuilt management team and plans to invest $70 million on additions and modifications, the Ocean Casino Resort is determined to succeed in Atlantic City.
Two of the biggest changes underway have been linking the lobby on the building’s 11th level to the casino five levels below and developing a comprehensive loyalty programs to reward casinos guests the way they expect to be rewarded.
5. Macau’s Ponte 16 Resort Looks to Expand
Success Universe Group Limited, a land-based casino operator in Macau, has reportedly announced that it hopes to be given government permission “within this year” to begin construction on a minimum $76-million addition to its Ponte 16 Resort. The expansion would bring a shopping mall and some additional casino space to the waterfront venue and could be completed by the end of 2021.
6. Quapaw Nation Gets Nod for Pine Bluff Casino
The Arkansas Racing Commission gave the green light to the Quapaw Nation to build a casino in Pine Bluff.
Downstream Development Authority of the Quapaw Nation—which was the only applicant for the Jefferson County casino license—told the commission that construction would begin immediately on Saracen Casino Resort, the proposed $350-million casino project near The Pines Mall in Pine Bluff.
7. Macau Continues to See Tourism Growth
Even though Macau’s gross gaming revenue is still struggling, tourism to the territory has increased. According to the most recent numbers from Macau’s Statistics and Census Service, the number of visitors in May increased 25.6% year over year.
The increase in visitors came from both overnight and same-day visits, but the healthy growth was mostly helped by the latter.
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