Seven trending gaming industry stories that will impact your casino Revenue Strategy.
1. Supreme Court Poised to Legalize Sports Betting in States that Want it
Earlier this month, the Supreme Court heard oral arguments in the New Jersey sports betting case, in which leagues including the NFL, the NBA and Major League Baseball are seeking to prevent the state from permitting such gambling.
Analysts are saying the Supreme Court appeared poised to invalidate the Professional and Amateur Sports Protection Act, the 1992 federal law that bans states from authorizing or licensing sports betting.
“The general sense in the courtroom … was that the Supreme Court was prepared to go all the way on PASPA — that is, declare it to be unconstitutional under the 10th Amendment’s anti-commandeering principle,” says Forbes. “If that were to occur, it could open the floodgates for sports betting nationwide.”
2. Merger Talks Between Penn National and Pinnacle Advance
Penn National Gaming and Pinnacle Entertainment are in serious talks about a possible merger in which the former would acquire the latter in exchange for cash or stock consideration. And while it’s certainly possible the talks will fall apart, the merger would it would create a substantial new player in the casino industry.
3. Caesars Sells Vegas Casino to Fund $1.7 Billion Hoosier Park Purchase
In order to finance the $1.7 billion purchase of Hoosier Park Racing & Casino and Indiana Grand Racing & Casino, Caesars Entertainment Corporation has announced it will sell real estate associated with Harrah's Las Vegas.
According to a Caesars, Harrah's will be sold to VICI Properties for $1.14 billion, with Caesars leasing back the property and continuing to administer casino operations at Harrah's for the duration of the 15-year lease.
4. How-Tos on Data-Driven Decision Making
In a special two-part series from Raving Flash!, partner Sarah Procopio offers insights into the whys and hows of data-driven decision making.
“Data and all of the beautiful reports in the world don’t mean anything if there isn’t a team to look at the reports, understand them, and use them to make decisions,” she says in part one, Why Data-Driven Decisions are Crucial to Your Performance.
In the second part of her series titled “Start Making Data-Driven Decisions in Three Easy Steps,” she offers three easy tips.
5. MGM National Harbor Still Crushing in Maryland
Maryland’s six casinos generated $130.5 million in November, which marks a climb of 42% compared with 2016. The numbers are only favorable for MGM National Harbor, though, which generated $50.6 million during the month. The state’s other five casinos, which have all been open at least a year, declined by $12 million, or 13.1%.
6. New Jersey Online Gambling Market Stabilizes
2017 marked fruitful gains for the now four-year old online gambling industry in New Jersey. There were notable increases in revenue, big strides in the area of library expansion, and lots of new ways to play. Here’s a look as some of the state’s most positive takeaways.
7. Northwest Indiana Casinos Show Growth in November
Northwest Indiana’s five casinos raked in a total of $74.56 million last month, a 1.3% hike over their November 2016 revenues of $73.57 million, according to the monthly revenue report released by the Indiana Gaming Commission.