Month: June 2024

VICI Clings to Investment-Grade Rating with Stable Outlook at Fitch

Fitch Ratings reaffirmed VICI Properties’ (NYSE: VICI) credit grade at “BBB-“ with a “stable” outlook in a report out Thursday. Caesars Palace on the Las Vegas Strip. Owner VICI Properties retained an investment-grade credit rating at Fitch Ratings. (Image: CNN) The research firm said the rating — the lowest on the investment-grade spectrum — is…

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New York Gaming Facility Location Board Provides Update on Downstate Casinos

The New York State Gaming Facility Location Board on Thursday provided an updated timeline for the issuing of the three downstate casino concessions. New York City’s Manhattan is seen looking south at the Empire State Building and Lower Manhattan. The New York State Gaming Facility Location Board this week provided a new timeline for the…

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Tribal Casinos Generate Record Revenue of $41.9B in 2023 Fiscal Year

Tribal casinos in the United States generated record gross gaming revenue (GGR) of approximately $41.9 billion during the federal government’s 2023 fiscal year (Oct. 1, 2022, through Sept. 30, 2023). The more than 500 tribal casinos across the US, from large resorts like Mohegan Sun to smaller ones like the Coulee Dam Casino seen here…

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SCOTUS Ruling on Florida Sports Betting Not Instructive in California

Last week, the United States Supreme Court declined to hear an appeal challenging Florida’s decision that essentially allows for the Seminole Tribe to maintain a monopoly on online sports wagering activities in the state. That sparked speculation that other states, including California, where tribes control gaming could bypass voters and establish internet sports betting. CNIGA…

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Live! Casino Philadelphia Fined $100K for Taking Proxy Sports Bets

Stadium Casino RE, LLC, the operator of Live! Casino and Hotel Philadelphia in the city’s Stadium District, has been slapped with a $100K fine for violating Pennsylvania’s sports wagering regulatory conditions. An aerial view of Live! Casino and Hotel Philadelphia. The casino’s FanDuel Sportsbook took banned proxy bets from a bettor that resulted in the…

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Mohegan Named to Newsweek’s ‘Most Loved Workplaces’ List for 2024

Mohegan has landed the honor of being the only gaming company to snag a spot on the Global Most Loved Workplaces 2024 list, a Rolodex of admired employers compiled by Newsweek and the Best Practice Institute. Workers at Mohegan Sun in Connecticut are overall pleased with their job and career outlook. That’s according to employee…

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Florida Gaming Regulators Afforded Personal Confidentiality With DeSantis Signature

The Florida Gaming Control Commission (FGCC) members have been provided with personal confidentiality protections through a bill signed into law by Gov. Ron DeSantis (R). Law enforcement members with the Florida Gaming Control Commission raid an arcade on May 9, 2023, in Fort Pierce. Florida Gov. Ron DeSantis has signed a bill into law that…

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Penn Downgraded as Analyst Sees Little Hope of Near-Term Sale

Shares of Penn Entertainment (NASDAQ: PENN) slumped Tuesday after an analyst downgraded the stock, in part citing long odds that the regional casino operator sells itself over the near term. The ESPN Bet logo. Operator Penn Entertainment probably won’t sell itself over the near term. (Image: ESPN Bet) In a note to clients on Tuesday,…

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Missouri Sports Betting Referendum Expected to Be Close, Poll Concludes

Missourians will likely vote for the next US president this November, and also whether they support the authorization of retail and online sports betting. Mascots of pro sports teams based in Missouri on May 2, 2024, help deliver voter signature boxes for a campaign seeking to legalize sports betting through a November 2024 ballot referendum.…

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Great Canadian Entertainment Sells Vancouver Island Casino to Tribe

Great Canadian Entertainment has agreed to sell Casino Nanaimo on Vancouver Island to a tribe making its entry into the Canadian gaming industry. Great Canadian Entertainment has agreed to sell Casino Nanaimo to the Snuneymuxw First Nation. The casino will be the tribe’s inauguration into gambling. (Image: Nanaimo News Now) Great Canadian Entertainment is selling…

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