Indy Gaming Research gives AGA ammunition in fight with illegal gambling operations The Nevada

Indy Gaming: Research gives AGA ammunition in fight with illegal gambling operations

The CEO of the US Gaming Association's Bill Miller (CEO) is a legal casino industry in the state of the Global Gaming Expo held in October at an illegal gambling field. He said he missed $ 300 billion every year.

He has recorded more than $ 200 billion.

Last week, Washington's industry groups published a survey that Americans are gambling $ 511 billion in annual online sportsbooks, online casinos, and untrained game consoles.

According to a survey by Innovation Group, illegal gambling has caused the gambling industry to damage $ 44. 2 billion, almost half of the 92 billion dollar, which was gained by legal paid casinos and tribal casinos last year.

According to the survey, the state government has lost $ 13. 3 billion every year and will be nearly $ 2 billion than the state by 2021.

Mr. Miller called illegal websites "harm to our society" and "I knew that there are some illegal, no n-regulated markets spread, but how much this report spreads. It indicates whether it is. "

However, there is a question remains what the legal gaming industry can do to prevent this activity.

In April, AGA told the US Department of Justice to prevent the operation of illegal online sportsbooks and casinos and untrained "skill games" slot machines.

However, given the division of Congress after the middle election last month, it is unclear whether the parliament will be interested in this issue.

AGA's Vice Chairman Alex Costello, in charge of the government, said on Tuesday that an illegal gambling survey was sent to all 535 members of the Diet. According to her sentence, many status supporters who have no legal gambling have received many statements to industry groups.

"It's almost a major disadvantage for voters because there are no legal options," says Costello. "Everyone admits that illegal markets are really safe. This is a problem that can cooperate with a poorly friendly deputy officer. He pointed out what benefits their voters are. You can. "

According to this sentence, "Congress allies", including the relationship with the middle elections, are calling the Ministry of Justice to scrutinize this issue.

"The Ministry of Justice has a lot of values ​​and cares a lot," says Costello. "But the stronger the pressure from the parliament, the more likely this problem will move the government through the Justice Ministry.

Speaking at G2E in October, Miller said combating the illegal gambling market is one of three areas the AGA will focus on over the next 12 months.

"Illegal gambling is perhaps the biggest threat to our industry," Miller wrote in an email to AGA members after the study was released. "The sad reality is that 30% of the American gambling market is controlled by illegal and unregulated gambling. We will use our findings to strengthen our advocacy with federal and local politicians and law enforcement agencies to take immediate action."

Las Vegas-based Innovation Group surveyed about 5, 300 adult Yankees over the past year about their gambling behavior at legal and illegal operators, as well as unregulated gaming machines.

$630. 8 billion in sports, $337. 9 billion in unregulated casino sites, and $109. 2 billion in illegal slot machines identified in states such as Pennsylvania, Georgia, Virginia, and Missouri.

Visitors line up at a sports-bar-style billboard at G2E on Oct. 11, 2022.

If there was a good announcement from the survey, it was on sports betting. The AGA believes the expansion of legal sports betting in 36 states and Washington has reduced illegal offshore sportsbook activity.

But the AGA survey found that Americans will make $100 billion from legal sports betting by 2022, meaning illegal sportsbooks still make up 40% of the market.

According to previous AGA surveys, more than 50% of Yankees who bet on sports with illegal providers believe they are gambling legally.

In a letter to U. S. Attorney General Merrick Garland in April, Miller said the illegal market has decreased with the expansion of legal sports betting, but not by a large margin.

He cited AGA findings that 74% of sports bettors believe it is important to bet only with legal internet providers. However, 52% continue to use offers from illegal bookmakers. The majority of sports gamblers (63%) told the researchers that they were very surprised and actually wondered if the website they were using was an unregulated illegal sportsbook.

"The existence of such illegal websites is confusing," Miller wrote in a message.

Online casinos are legal in only six states: New Jersey, Michigan, Connecticut, Delaware, West Virginia, and Pennsylvania. Nevada has only legalized online poker. According to Eilers & amp; amp; amp; Krejcik Gaming, only one state, Indiana, may legalize online casinos in 2023.

MGM Grand and New York/New York, seen on the first day of the week, March 20, 2017. (Jeff Scheid/The Nevada Independent)

Vici ups his belt, soon to take real estate control of 10 resorts

Investment real estate trust Vici Properties is increasing its concentration of its own properties on the Strip after swapping 49. 9% of MGM Grand Las Vegas and Mandalay Bay - Blackstone-to-Blackstone promotion creates $5. 5 billion for one deal.

When the deal is completed in the next year, Vici will own land and real estate related to 10 resorts on the Strip owned by three companies: MGM Resorts International, Caesars Entertainment, and Apollo Global Management.

Vici bought 50 percent of MGM Grand and Mandalay Bay when it completed a competition acquisition to create MGM Growth Resort properties in April for $17. 2 billion.

"We like this deal because it simplifies and focuses on Vici's structure, and essentially Vici has a certain number of hikes and does not pay attention to increasing interest rates, expanding the company's base," Truist Securities analyst Barry Jonas told Truist Securities in a note last week when the deal was announced.

Vici will pay Blackstone $127 billion and, according to these objects, understand the company's obligations in the amount of $3 billion. MGM's rent payments for these two properties are $3. 1 billion annually, beginning in March of the current year.

Vici general manager Edward Pitoniak said, "This transaction provides further opportunity for our partnership to be repaired as MGM Resorts seeks to capitalize on the growing vitality of the South Strip."

New York's Blackstone is securing a 95% stake in Bellagio and 100% of the rest of Aria at CityCenter and Great Ensemble at Vdara.

Earlier this year, Blackstone was acquired by Real Estate Dealer Group from The Cosmopolitan of Las Vegas and acquired the operating business of MGM Resorts. The total transaction value was $4. 1 billion.

Vici operates 43 gaming facilities in the United States, operated by eight casino companies.

Mitch Germain, a gambling analyst at JMP Securities, told traders that Vici continues to have interests in Las Vegas, including non-gaming deals with the company that runs Great Wolf Lodge Hotels, Chelsea Piers New York Entertainment Center and Rescue Center developer Canyon Ranch.

Vici has more than $5. 25 billion in cash and bank financing.

"The significant liquidity of VICI's real estate allows the companies to be bold and at the forefront of deals," Germain said. "Vici was the logical customer for these assets. The Blackstone deal simplified Vici's situation. And the Blackstone deal simplified Vici's situation.... It made the company's cash profile easier to analyze."

Vici also owns the Mirage property, which Hard Rock International is acquiring for about $1. 1 billion.

Encore Boston Harbor one week before its June 2019 opening. (Sreyan Sarkar/Creative Commons via Wikimedia Commons)

Wynn Resorts closes Encore Boston Harbor REIT position

Wynn Resorts has booked its investment real estate RUM (REIT) position and homes for Encore Boston Harbor for $1. 7 billion.

The funds will bolster the company's balance sheet as construction of a planned gambling and hotel resort on the Al Marjan Peninsula in Ras el Khaimah, United Arab Emirates, moves forward.

The deal with San Diego-based Realty Income Corporation was announced in February.

Wynn will continue to manage Encore Boston Harbor under a 30-year lease with initial annual rents of $100 million. The agreement allows for annual increases of 1. 75 percent for the first 10 years.

Wynn's statement said the resale would allocate the remaining $4. 4 billion, which could be used for various business purposes.

The 671-room Encore Boston Harbor opened in 2019 and is considered the worst casino in Massachusetts. In a July interview, Wynn general manager Craig Billings said the company actually owns 11 parcels of land in addition to the casino hotel, which will be used to build parking lots, theaters and other non-graphic components.

Last month, during a conference call dedicated to the company's third-quarter earnings, Billings said Wynn was adopting visualization of the UAE plan early in the year.

Artists dressed as show glasses arrive on the Strip near the Venetian Resort Las Vegas, Tuesday, Nov. 16, 2021. (Jeff Scheid/The Nevada Independent)

Apollo to pay Venetian Ensemble employees $11 million

Apollo Global Management, which operates the Venetian, Palazzo and Venetian Expo for the past 10 months, hosted more than 7, 000 employees for a celebration on Tuesday.

In fact, the company announced that each employee, regardless of years of service or position, would receive $1, 500 under a basket of economic payments. The total bonus of $11 million was announced at a joint meeting of employees.

Apollo paid $2. 25 billion for the Venetian Ensemble operation in February as part of its $6. 25 billion acquisition of Las Vegas Sands Corp. Vici's Investment Real Estate Trust paid $4 billion for the land and buildings.

Las Vegas Sands provided Apollo with $1. 2 billion in dealer financing, and private investment firms highlighted $1. 05 billion in cash and loans.

In November, Apollo was granted permission by the Nevada Gaming Control Board to distribute $620 million to franchisees and to pay bonuses to 7, 000 resort employees.

Venetian general manager Patrick Nichols, who led the company in June, praised employees for their hard work and the company's longstanding loyalty during an event that featured food from the resort's restaurants and a concert-fresh improvisational comedy show.

"We have been inspiring our team members to think like owners, and now we can announce a special thanks to Venetian Las Vegas for turning ideas into reality," Nichols said in his own statement.

Sands Macau. Photo credit: Wikimedia Commons

China's "zero coefficient" politicians continue to eradicate gambling profits in Macau

In November, Macau achieved the gambling industry's lowest profit figures in the past two decades, followed by politicians who continue to discourage players from visiting the special administrative region's casinos, access to a zero coefficient government.

For the first 11 months of 2022, revenues from Macau's gambling business were $4. 8 billion, 50. 9% less than in 2021, when Casino Macau collected $10. 8 billion. Not knowing that gambling revenues average more than $486 million a month, Casino Bazaar is at risk of not reaching the $7. 56 billion it collected in the 2020 epidemic, which would be the first time in fact since 2006, when the market's gambling revenues were at least $10 billion.

"So far, we have not not only visited and cost structure, but also a major change in cancellation of visiting restrictions, and we have no major changes, we are the main opportunities for Macau at best. Believing that it should be spoken from the gambling company's perspective, I wrote a stiffel finance in "analysis notebooks and Steven Wiedzynski.

The GamBral inspector and the coordinated Macau station, as the government expanded the gaming license for six businesses in the market for the first time, arrival of the game company in November, among the specific numbers of later days. MGM Resorts-International, Las Vegas Sands and Win Resorts announced that it has reached $ 37. 6 billion.

Analysts believe that a 1 0-year license has removed important barriers for the former Portugal colony, which opened the casino industry in 2003.

However, it was a bunch reflected in the subsequent announcement.

Gaming analyst J. P. Morgan and Joe-Grevu weakened the restrictions on traveling to Macau, reduced or canceled zerocobid dragons, including quarantine of debt, and canceled, and the first positive version of Cobid. In fact, he told the trader that it could close the business.

"We, as a final result, Chinese securities actually take the most main obstacles in the composition of the basic functions of Macau and have all the opportunities to stand out from the text. Believing that there was, "-grev wrote in the analysis notebook.

"When we can easily access Macau, we know all types and small collections, and there is a high demand for it," he wrote. "The problem is that this is not often brought.

David Katz, an analyst of Jeffrey's game company, said that the politicians from Zero Qued "remain uncertain" to recover the market.

A new license, which requires casino operators to invest up to $ 12 billion in joys and attractions other than games, will be operated in early 2023.

According to Rus Vegas Sands General Manager Rob Goldstein, the company has invested more than $ 15 billion since it became Bazaar's first South American operator in 2003. Sands states in a license application that will continue to invest in Macau to expand Macau as an international tourist destination.

"We will actively pursue the same investment strategies to Macau's economy, people, and society since then, and since then," Gold Stein published in the Macau Daily Times. His statement has stated.

A man walks past a sign at the Las Vegas Ballpark on Thursday, August 14, 2021. (Jeff Scheid/The Nevada Independent)

Quote

Oakland Mayor-elect Shen Tao wants to subtract the Aces from moving to Las Vegas, but this is not how you observe a big-city bubble. Mayor Tao, who will replace Mayor Libby Schaff in January, has effectively said that it is her value to keep the team in Oakland.

I will spare no effort to keep the Aces in Oakland. But I will not allow Oakland taxpayers to foot the bill for the various cash costs of building a stadium."

- Oakland Mayor-elect Shen Tao

Analysis by Deutsche Bank gaming specialist Carlo Santarelli

Hyatt Hotels is acquiring Dream Hotel Group for $125 million, with the opportunity to receive another $175 million in six years depending on the opening of new hotels. Dream Hotel Group operates 12 hotels in the U. S., Europe and Asia, has 24 more in development, and is acquiring the Dream Hotel Las Vegas, located south of the Strip near the iconic "Welcome to Las Vegas" sign, for $550 million.

"We believe the Dream acquisition effectively aligns with Hyatt's strategy of expanding the brand's rack on a base of fewer assets, with a focus on adding the maximum number of urban and resort properties with modern food and beverage offerings that will appeal to guests who do not live on-site."

- Carlo Santarelli, Deutsche Bank gambling business analyst

On an analytical note from Barry Jonas, gambling business specialist at Truist Securities

Truist Securities increased MGM Resorts International Ratings as the company waits, in effect, for the casino to cannibalize its own peers on the Strip, taking into account the robust number of events and the return of midweek business travel. MGM owns 10 resorts on the Strip and hosts several events.

"The events calendar could drive a conditional increase in promotions. The Consumer Electronics Show, Con/AGG and the first Formula 1 race are necessary to lead to a drop in the number of fees -- almost all the days are already sold out -- and to initiate major (costs) for the games (i) non-growth-events." -- Barry Jonas, analyst at Truist Securities

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Elim Poon - Journalist, Creative Writer

Last modified: 27.08.2024

“You're going to start to see Aruze do its best to blur the lines between live table game play and ETG play. We're going to start to try to. Abstract. Introduction. I. Casino Gambling and Economic Development. A. A Conceptual Framework for Assessing the Economic Impact of Casino Gambling. The flourishing of illegal sports betting gives the lie to one argument in favor of legal gaming: that it will trump competing illegal forms.

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