Officials Continue to Narrow Down a Location for the Chicago Casino

Chicago Casino Gambling Background

Lawmakers in Illinois have been working to expand the state’s gambling industry for years. Much of the focus has been on getting a gambling venue in the city of Chicago. It’s been a long, arduous process, yet new reports claim that officials are beginning to narrow down a location for the Chicago casino.

This is exciting news for those in the Chicago area. Not everyone is convinced that a casino will actually open its doors here, though. Now is a great time to talk about when and where this new property could open its doors.

Let’s get into it!

A Location the Chicago Casino Will Be Decided Soon

Illinois is known for having one of the largest casino industries in the Midwest. In 2019, lawmakers here approved a new Capital Plan to significantly expand their state’s gaming options. Under this new plan, several new casinos gained permission to open here. That includes a brand new Class III casino in Chicago.

This would be the first casino to open its doors in the Windy City. Officials are now working to narrow down two locations for this venue. It seems that suburbs in the city’s Southern suburbs are the top options right now.

One location near the border of Homewood and East Hazel Crest is being considered. Another by Matteson is also in the running. City officials, including mayor Lori Lightfoot, are now working with city groups to ensure these locations will bring about the most revenue and tourism possible. Wind Creek Hospitality CEO Jay Dorris expressed his excitement about the progress being made to the media this week.

“This development promises to be the best in and for the entire Southland region – with job creation, economic and community investment, sustained operational excellence, and a strong commitment to diversity and inclusion in all phases of construction and operation,” Dorris said. 

If all goes according to plan, the location for the Chicago casino will be announced before the end of 2021. It will then take some time for construction on this property to complete. Stay tuned for updates!

Illinois’ Sports Betting Industry Continues to Impress

Illinois isn’t just known for its popular casinos. Back in 2020, the first regulated sportsbooks went live here. In this relatively short period of time, Illinois has developed one of the most lucrative sports betting industries in the United States.

The sports betting operators here continue to impress. Revenue figures throughout 2021 have been wildly impressive and are showing no signs of slowing down. More than $400 million was wagered on sports here over the month of August.

Many are now expecting September to be the most successful month in history for this industry. This month marked the start of the 2021/2022 NFL season. NFL betting revenue has been surging around the US and Illinois will likely report huge tax revenue earnings thanks to the start of the season.

Only New Jersey and Nevada have more successful sports betting industries than Illinois. Some feel this state has the potential to take the top spot in the future. It will be interesting to see how popular sports gambling becomes over 2022 in other areas of the country.

Most US casino hubs are faring well right now. Let’s take a look at some of the other states to recently report large increases in casino revenue.

More States Report Casino Revenue Increases Over September

September tends to be a successful month for the US casino industry. This past September proved that theory to be correct once again. Most states around the country reported significant increases in their casino revenue figures this month.

That was certainly the case in Louisiana. The casinos here reported a nearly 16% jump when compared to the month of August. The Belle of Baton Rouge proved to be the most successful gambling venue in the state and experienced an impressive 38% month-on-month revenue increase.

Pennsylvania is home to one of the largest casino industries in the United States. Over September, total gaming revenue in the state came out to $415.6 million. Rivers Casino saw the largest revenue increase at 43.6% when compared to September of 2020.

Oklahoma and New Jersey also saw impressive jumps in their monthly revenue figures. It’s great news for all of the casino companies in these states. We’ll continue offering updates on the growing US casino industry as the months go on.

Are you excited to finally hear the location for the Chicago casino? Where do you expect this property to open? Let us know in the comments section below.

Vigo Casino License Winner Will Be Named on November 17th

Casino Floor with Slot Machines and Table Games
The operator for the latest gambling destination in the Hoosier State will be revealed next month.

According to the Indiana Gaming Commission, they will be naming the Vigo casino license winner during their November 17th meeting after evaluating the applicants. However, they won’t be able to issue the winning party’s casino license immediately.

Said Indiana Gaming Commission deputy Director Jenny Reske:

“The Indiana Gaming Commission at its Nov. 17 meeting will be able to evaluate the applicants and the commission would be in a position to make a selection, but issuing a (casino) license is complicated by the fact that there is a Lucy Luck appeal pending and a stay has been granted by the administrative law judge. As a practical matter, we won’t be able to issue a casino license on November 17th.”

Lucy Luck Appeal

Last June, the Indiana Gaming Commission voted unanimously not to renew the casino license previously granted to Lucy Luck LLC, citing funding and staffing concerns. Shortly after that, the Indiana Gaming Commission started accepting applications and set a September 22 deadline for applicants.

However, Lucy Luck, which was planning to build a Rocksino by Hard Rock Casino in Terry Haute, appealed the commission’s decision and the fate of that is now in the court. Administrative Law Judge Elizabeth Gamboa has set a status hearing for November 16th with a formal hearing scheduled in December. Pending the resolution of the appeal, the Indiana Gaming Commission says that it cannot issue the Vigo casino license after naming the winning applicant.

The Only Applicant in 2019

Formerly known as Spectacle Gaming, Lucy Luck LLC is majority owned by Terry Haute businessman and philanthropist Greg Gibson. It was the only applicant for a Terry Haute project in 2019. Lucy Luck was supposed to run the day-to-day operations of the Hard Rock-branded Terry Haute casino project.

However, after the Indiana Gaming Commission’s decision not to renew the Lucy Luck license, Hard Rock bought the majority ownership of Spectacle Entertainment and the Hard Rock Casino Northern indiana while making its own run for the Vigo casino license.

Two Casinos in New England are Ranked the Best in the US

Mohegan Sun Casino And Foxwoods Resort

The US casino industry has expanded over the past couple of decades. The days when only Las Vegas featured world-class gambling venues are over. Reports surfaced this week claiming that two casinos in New England have been ranked as some of the best in the country.

This is a big accomplishment for these properties. It also goes to show that this area is developing into a real gambling hub. Now is a great time to talk about which properties received this prestigious award.

Let’s get into it.

Two Casinos in New England Make Prestigious Awards List

For many years, lawmakers in Massachusetts pushed against allowing any casinos to open in the state. It was frustrating for the gambling advocates here that pointed toward the huge amount of tax revenue that could be earned by regulated casinos. Finally, in 2013, a law was passed to finally allow Class III casinos to run inside Massachusetts.

Connecticut is another state with a growing casino industry. Casinos have been legal here since the 90s and several tribes have opened truly world-class properties here. These two states have helped to expand what was already a solid gambling region of the country.

News broke today that two casinos in New England were named as some of the best in the country by USA Today. The first is the Foxwoods Resort Casino. This property is home to more than 4,500 slots, 300 table games, and the largest poker room on the East Coast.

“One of two premier gaming resorts in Connecticut, Foxwoods Resort Casino offers 4,500 slot machines–ranging from penny games to $100 minimums–as well as 300 table games, high stakes Bingo at one of the world’s largest Bingo halls, a race book with 50-foot digital projection screens and the largest poker room on the East Coast. Four unique hotel properties and over 30 restaurants make it easy to stay and play,” USA Today wrote. 

The Mohegan Sun in Uncasville, Connecticut also earned a spot on this list. This property was actually named the best casino hotel. Anyone on the East Coast should at least consider visiting one of these impressive venues to see what all the hype is about!

More Northeastern States Work to Expand Their Gambling Industries

Massachusetts and Connecticut are far from the only states in the Northeastern US with large and successful gambling industries. As many are aware, New Jersey is home to the largest overall gaming industry on the East Coast. New York and Pennsylvania are also working to expand their number of gambling options.

In time, the Northeastern US could grow to become the most profitable gambling region in the country. Many of the states here are currently working toward expansion. Sports betting, in particular, has been growing steadily in this area since PASPA was removed in 2018.

Maryland is one state currently working to finally launch its first sports betting options. Unfortunately, officials are still working to come up with a concrete set of rules to monitor this form of gambling. Several casinos have gained licenses to operate sportsbooks here, yet none have so far launched in the state.

Massachusetts is another state that appears to be on the brink of legalizing and regulating sports betting. A special council was set up here to weigh the pros and cons. Based on the progress being made, sports gambling will go live here in 2022.

There are many changes being made in the US gambling industry. The Northeastern area of the country continues to expand its number of gambling options. Two casinos in New England are even ranked as some of the best in the country! Stay tuned for updates on this situation as time goes on.

Las Vegas Continues to Thrive Through 2021

The entire US gambling industry has been performing well through the first ten months of the year. Las Vegas remains the biggest gambling hub in the country. Here, casino companies continue to report impressive revenue figures.

Many world-class casinos are currently based here. That includes MGM Resorts, which owns and operates a huge number of popular casinos throughout Las Vegas. That includes The Cosmopolitan, which this company recently took control of.

Over the month of August, the casinos in Las Vegas reported more than $1 billion in total GGR. The vast majority of this money was earned by venues on the Las Vegas Strip. Many are predicting that September will be an even better year for the city.

The start of the 2021/2022 NFL season has helped to bring a massive surge of sports bets here. Many have also made the trip to Las Vegas to visit Allegiant Stadium, where the Las Vegas Raiders play. This boost in tourism always results in more gaming revenue. We’ll be sure to offer updates on the city’s September revenue figures as they are released.

Are you surprised to hear how highly-ranked the two casinos in New England are? What do you think is the country’s next big gambling hub? Let us know in the comments section below!

More Casinos in Maryland Receive Permission to Launch Sportsbooks

Maryland Lottery And Gaming Sports Betting Background

Maryland is one of the latest states to formally legalize sports betting. Several land-based sportsbook licenses have already been awarded in the state. New reports have just surfaced claiming two more casinos in Maryland have just received permission to launch their own sportsbooks in the near future.

Sports fans here have been excited to see more betting options become available. Some major changes are set to take place within Maryland’s gambling industry over the next few years.

Here’s a look at which casinos will soon allow sports betting.

Two Casinos in Maryland Gain Permission to Offer Sports Betting

The US sports betting industry continues to expand rapidly. Maryland formally legalized sports betting earlier this year. Several delays have come up getting the state’s various sports gambling options up and running.

This week, news broke that two popular casinos gained permission to formally launch their own sportsbooks. Those casinos are the Ocean Downs Casino and Hollywood Casino. Both have large fan bases and have been working to receive a sportsbook license for months.

MGM National Harbor, Live! Casino & Hotel and Baltimore’s Horseshoe casino also have licenses to operate sportsbooks. Unfortunately, none of the state’s sportsbooks have gone live yet. This is due to the Maryland Lottery and Gaming Control Commission’s inability to formally give the green light. Governor Larry Hogan spoke to the media about this situation earlier this week.

“No one is pushing harder than I am to get sports betting up and running here in the State of Maryland,” Hogan said. “Our administration has now cleared five licenses for sports betting, implementing the referendum approved by voters and the law passed by the General Assembly.”

Still, it’s exciting to see more casinos in the state gain sports betting licenses. Once final approval is given, the state will likely see a huge surge of taxable sports betting revenue flowing in. Stay tuned for updates!

Casino Revenue in Maryland Continues to Impress

Much of the Northeastern United States has been working to expand its gambling industry over the past couple of years. That includes Maryland, which is now home to six different casinos. Some of these properties are owned and operated by the most profitable casino companies in the United States.

States around the country have recently released their revenue reports over the month of September. That includes Maryland. Many have been surprised to see how much money the gambling venues in this state managed to bring in.

Total gross gaming revenue came out to $165 million over September. This represents an impressive 15.1% increase when compared to September of 2020. MGM National Harbor managed to bring in the most revenue at $69,496,983.

Live! Casino & Hotel, home to 3,747 slot machines and 190 table games, brought in the second-most money at $56,496,012. Horseshoe Casino came next with $17,532,299.25. Nearly all of the casinos in the state managed to earn more revenue in September than they did the month prior.

Maryland’s casino industry is proving to be successful and sports betting options will soon launch here. We’ll be sure to offer more updates on this state’s gambling industry as the year goes on.

Florida’s Sports Betting Industry Could Launch Next Month

Maryland is not the only state to legalize sports betting, yet delay launching any sportsbooks. Florida is in a very similar situation. Unlike Maryland, however, this state’s delay came from several lawsuits filed by pari-mutuel companies operating in the state.

Governor DeSantis finally agreed to a compact with the Seminole Tribe this year to launch sports betting in the state in August. Under this agreement, the Seminoles will have permission to launch online sports betting statewide. Two pari-mutuel operators claim this is unconstitutional and will give the tribe a full monopoly on sports betting in the state.

Not long ago, a federal judge threw away the lawsuit directed at the Seminole Tribe. This didn’t resolve everything, though. An additional lawsuit was filed against the Department of Interior that has further delayed the launch of sports betting here.

This second lawsuit is expected to be resolved in November. Assuming the DOI wins, online sports betting will go live in the state. This means Florida residents could have access to regulated sports gambling options statewide within just a few weeks.

Are you excited to hear that more casinos in Maryland have gained permission to launch sports betting? When do you expect the first sportsbooks to go live here? Let us know in the comments section below.

New Reports on Pennsylvania’s Casino Revenue for September are Out

Pennsylvania State Seal With Hollywood And Rivers Casino

Pennsylvania continues to develop one of the most successful gambling industries in the United States. Throughout most of the year, casino revenue has been steadily rising here. New reports on Pennsylvania’s casino revenue for September are now out and many are impressed to see how much the gambling venues here managed to bring in.

Some analysts feel that this state could soon be a real competitor with other gaming hubs in the country. Today, we’ll take a close look at the latest revenue reports here.

Let’s get into it!

Pennsylvania’s Casino Revenue for September Passes $415 Million

The Northeastern US is currently developing a massive gambling industry. Atlantic City has been the region’s casino hub for decades. In recent years, other states including Pennsylvania, New York, and Maryland have worked to offer more gaming options to their residents.

Pennsylvania now appears to be the main competitor to New Jersey’s casino industry. 15 different casinos are spread around the state. A large number of smaller “mini-casinos” are also up and running here. These help to generate major revenue figures each month.

This week, reports on Pennsylvania’s casino revenue for September were released. Some have been surprised to see that the casinos here managed to bring in $415 million in total GGR. That represents a 46% increase when compared to September of 2020. It remains lower than the all-time record set last July at $423.6 million, though.

Parx Casino in Bucks County managed to bring in the most revenue at $57.1 million. Rivers Casino in Pittsburgh saw impressive figures at $33.1 million. Most of the casinos here posted solid revenue figures over the month and are likely happy with the progress being made throughout the year.

Of course, Pennsylvania’s gambling revenue figures remain far below what New Jersey has been able to bring in. Let’s look at how the casino companies operating in Atlantic City fared last month.

Breaking Down New Jersey’s Latest Gaming Revenue Figures

2021 has been an exciting year for New Jersey’s gambling operators. Most have seen record-breaking revenue figures on several occasions already. This past September proved to be the biggest month in history for the state’s sports gambling industry.

The sports betting companies here saw a conbined handle of more than $1 billion in September. That marks the first time any state experienced a sports betting handle past the $1 billion mark. Of that, $82.4 million was kept by the state’s regulated sportsbooks.

Total gross gaming revenue in the state across its various regulated gambling options came out to $405.1 million. That represents a 39% increase from September of 2020. The nine land-based casinos in Atlantic City saw $248.5 million in revenue earned.

Once again, slot machines proved to be the big earners for these casinos. Slots accounted for $182 million in total revenue. Table games brought in $66.5 million. It’s clear that tourism remains high in Atlantic City and should remain that way for the foreseeable future.

Numerous records have been set over in Las Vegas this year, too. Unfortunately, not all of the casino operators here are releasing encouraging revenue reports.

Nevada’s Casino Companies Report Fluctuating Revenue Figures

Numerous states are growing more focused on expanding their gaming industries. Despite their best attempts, however, none is likely to ever become a real competitor to Nevada. The casino industry in Las Vegas remains the world’s most profitable and 2021 has been a tremendous year for the gambling venues here.

Interestingly, many of the casino operators here have reported poor revenue figures over 2021’s third quarter. That includes Las Vegas Sands, one of the world’s most powerful casino companies. This company is anticipating to come up far short of the early estimate for the quarter, largely due to poor earnings from its properties in Macau.

Not every company here has been struggling. MGM Resorts appears to be having a fantastic quarter and has been working to expand recently. MGM CEO Bill Hornbuckle is now embracing the online casino industry and believes it’s time for Nevada to allow online casino gaming options.

Other companies here including Wynn Resorts and Caesars Entertainment appear to be performing well, too. Many are curious to see how well these companies perform through the year’s final months, as well. We’ll be sure to offer more reports on these revenue figures as the year goes on.

Are you surprised to see Pennsylvania’s casino revenue for September? How do you expect the casinos here to perform through the rest of 2021? Let us know in the comments section below.

US Casino Operators in Macau Brace for Revenue Drops

Macau Casinos With Red Down Arrow

Macau’s casino industry has been struggling immensely since early 2020. This has made things extremely difficult for all of the US casino operators in Macau. New reports have just surfaced claiming that casino revenue in Macau is expected to drop soon once again.

There is a real reason for the casino operators here to be concerned. Mainland China has been putting major pressure on Macau and seems to be targeting the territory’s gaming industry.

This is a quick look at what is exactly is taking place here.

Here’s Why US Casino Operators in Macau are Concerned Right Now

Prior to 2020, things seemed to be almost perfect for the gambling industry in Macau. This city had long been the most profitable gaming destination in Asia. Millions would flock from Mainland China and other countries around the world to visit and gamble inside the multi-million dollar properties operating here.

In early 2020, things completely changed. Officials in Macau ordered all of the city’s casinos to shut their doors. China’s government set intense travel restrictions to and from Macau and the casinos operating here immediately saw their revenue figures plummet.

Many of the US casino operators in Macau are now showing concern about their revenue figures in the near future. Casino companies in the city are expecting total Q3 profits to come out to just $62 million before interest and taxes. Analysts are also forecasting that 2021’s third quarter will be the worst in history for the casino industry here.

This quarter is historically the most successful month in history for the casino industry here. Unfortunately, travel and health regulations kept many visitors away. Many are now expecting another poor three months over 2021’s fourth quarter.

These upcoming revenue reports will likely have an impact on the share prices of casino companies in Macau. Stay tuned for updates on this situation over the next few months.

How is the US Casino Industry Faring Right Now?

The US casino industry found itself in a similar situation to Macau’s in early 2020. In March of last year, officials around the country ordered their casinos to shut down to the public. All US casinos remained closed to the public until the summer months.

2021 has proven to be completely different for this industry. Revenue figures have been surging throughout the year. In fact, casino revenue hit new monthly records on several occasions throughout 2021.

August has proven to be another solid month for casino companies around the United States. That includes the properties in Atlantic City. Gambling revenue surged here in August and new organizations are beginning to invest in various casinos around the city.

Pennsylvania is another major gambling hub to experience a revenue surge in August. The casinos here managed to bring in more than $408 million in revenue over the month. Pennsylvania is quickly developing one of the largest gaming industries in the country.

Many of the top US casino operators are now focused more on expansion. Here’s a look at some of the recent casino sales and purchases around the United States.

Expect to See More Casino Sales in 2022

There was concern that the events that unfolded in 2020 would have an irreversible effect on the world’s casino industry. It’s been incredible to see how quickly the casinos in the United States have managed to turn things around.

Many of the top casino operators in the United States are now looking more at casino sales and purchases. That includes property sales in some of the country’s top gambling hubs. Several of these purchases have already taken place in Las Vegas this year.

Las Vegas Sands is one company that has been involved in several major sales over the past two years. This gaming operator recently sold The Venetian, one of its biggest and most profitable gambling properties in Las Vegas. It has since focused on its operations in Macau, yet revenue figures in this Asian casino hub remain low.

It seems very likely that more major casino sales and purchases will be announced in 2022. Things are changing fast in this industry. It will be interesting to see which companies decide to make the move into places like Las Vegas over the next 14 months.

US casino operators in Macau are in for a tough few months. What do you think will happen with Macau’s casino industry in the future? Let us know in the comments section below.

Here’s What We Know About the Atlantic City Casino Thefts

Atlantic City Casinos With Check And Handcuffs

Atlantic City remains one of the biggest and best gambling hubs in the United States. Occasionally, these gaming venues draw attention from criminals. New reports surfaced this week that provide more information on the Atlantic City casino thefts that took place over the summer.

The casino companies operating in Atlantic City have dealt with a lot over the past year. Now is a great time to talk about the recent thefts that took place at some of the casinos here.

Let’s get into it!

More Details on the Atlantic City Casino Thefts have Just Surfaced

There has been a huge amount of attention placed on Atlantic City’s casino industry over the past nine months. To the surprise of some analysts, the gambling venues here experienced a massive comeback from the events that unfolded in 2020. Gambling revenue has been increasing here and tourism into the city remains high.

Not everything goes perfect for these casinos, though. Over the summer, reports surfaced that a group of individuals had attempted to steal a large amount of money from several of the casinos here. This week, more details on the recent Atlantic City casino thefts were released to the public.

Five individuals have now been charged with trying to steal an astounding $1.1 million from the casinos here. Prosecutors claim these individuals passed fraudulent checks in their attempt to take this money. Suspicions were raised in late August and it didn’t take long for casino officials to recognize the crimes being committed. Acting New Jersey Attorney General Andrew Bruck commented on this situation to the media this week.

“The defendants were caught executing a sophisticated financial scheme spanning multiple casinos and over a million dollars in fraudulent checks,” Bruck said. “This case is just one example of the excellent work — in this instance across international borders — performed by the members of the New Jersey State Police and Division of Criminal Justice who are assigned to investigate and prosecute crimes in the casinos.”

All five of the defendants involved in this case face serious charges. If convicted, they each face up to 10 years in prison. We’ll be sure to offer more updates on this situation over the next few months.

Sports Betting Revenue Continues to Surge in New Jersey

New Jersey is widely credited with being one of the states responsible for having PASPA removed. Officials here quickly approved sports betting legislation following PASPA’s removal in mid-2018. Since that time, New Jersey has developed the largest and most successful sports betting industry in the United States.

Sports betting revenue has been surging in this state through most of 2021. Things took a slight dip over the month of August. As many predicted, however, September proved to be one of the most successful months in history for the sports betting industry here.

Over the month of September, the sportsbooks here saw more than $1 billion wagered. Of that handle, $82 million was kept by sportsbooks. Those are outstanding figures for this industry that prove that sports betting continues to grow more popular every year.

Casino revenue is up in the city, as well. In-person casino revenue is up 30% when compared to September of 2020. $248.5 million was brought in from the state’s casinos. $122.5 million was brought in through the state’s online casino platforms.

Just about everyone involved with Atlantic City’s gaming industry is happy right now. Hope is that the upward trend continues through the rest of 2021. Stay tuned for more reports on the revenue figures here as the year continues.

More States Report Gambling Revenue Increases

Atlantic City has been the most profitable gambling hub on the East Coast for decades. This city is beginning to experience more competition from neighboring areas, though. Several states in the Northeastern US have recently begun to expand their gambling laws and are working to bring in more tax revenue from casinos and sportsbooks.

Massachusetts is one of those states. Casinos have been operating here for nearly a decade. There are now three casino-resorts in the state, all of which help to bring the state large amounts of tax revenue each month.

Reports came out today claiming Massachusetts’ casino revenue hit a three-month high over July, August, and September. The month of July proved to be the most successful, as the casinos here brought in more than $95 million. August came next at $92 million. September saw just a slight step down as the casinos managed to bring in $89 million.

New York’s lawmakers continue debating whether or not a Class III casino should receive permission to open in New York City. Many claim it will help to boost tax revenue and tourism. Others worry it will lead to gambling addiction and other social issues within the city. More information on this proposed casino is expected to come out shortly.

Are you surprised to hear about the Atlantic City casino thefts? Which state is best suited to compete with Atlantic City’s casino industry? Let us know in the comments section below.

Aristocrat Leisure to But Playtech for $3 Billion

Two Rows of Progressive Slot Machines
Australian slot machine maker Aristocrat Leisure Ltd. has struck a deal to buy U.K. gambling software developer Playtech PLC for $3.7 billion in a transaction that will create one of the biggest business-to-business platform providers in the global gaming industry.

The deal, which was agreed upon on Sunday, will be finalized if the two parties will agree to the further terms and conditions of the deal. Once resolved, Aristocrat’s wholly-owned subsidiary Bidco will be the acquiring party.

In a statement, Aristocrat CEO Trevor Croke said:

“The combined group would offer a broad portfolio of end-to-end solutions for gaming customers around the world, as well as seamless player experiences, underpinned by a shared focus on responsible gameplay and innovation.”

Aristocrat’s Offer

Aristocrat offered to buy Playtech’s ordinary shares at $9.35 per share which is a 58% premium of its October 15th closing price. At that price, the total issued common shares of Playtech would have a fully diluted value of around £2.1 billion or £2.7 billion using the enterprise value basis.

To fund the deal, Aristocrat will raise AUD $1.3 billion or $961 million dollars in a share sale. The company will be offering the shares at an 8.6% discount from its closing price last Friday. Aristocrat says it has received letters of intent and irrevocable undertakings supporting the deal from investors representing 20.7% of Playtech’s outstanding shares, including its biggest shareholder.

Playtech’s Aggressive Expansion

The deal comes at a time when Playtech was aggressively expanding in the United States and Latin America. According to Playtech CEO Mor Weizer, the sale has the potential to enhance their company’s distribution and their capacity to build new and deeper relationships with partners to boost their technological capabilities.

Meanwhile, Playtech also announced that it has entered into a definitive agreement with Hong Kong-based Gopher Investments to sell its financial trading division Finalto in a cash deal worth $250 million.

The Ilitch Organzation’s Ocean Casino Purchase Has Been Finalized

Ilitch Holdings Inc Ocean Casino

Atlantic City’s casino industry is beginning to draw in the eyes of major investors. Not long ago, news broke that the Ilitch family had planned to purchase a stake in one of the city’s most popular casinos. News broke today that the Ilitch Organization’s Ocean Casino purchase has now finally been completed.

Things have turned around for this property in a major way. It wasn’t long ago that it was one of the worst-performing casinos in the city. Now is a great time to talk about some of the recent news regarding this venue.

Let’s get into it!

Sources Confirm the Ilitch Organization’s Ocean Casino Purchase is Complete

2021 continues to be the best year in history for the US casino industry. Tourism to major gaming hubs such as Atlantic City has been steady throughout the year. Many of the country’s biggest gambling companies have been reporting consistent rises in their revenue figures.

These revenue gains have been attracting serious investors lately. That includes the Detriot-based Ilitch Organization. This company revealed it planned to purchase a stake in the Ocean Casino Atlantic City earlier this year and the process to do so has been ongoing.

This week, news broke that the Ilitch Organization’s Ocean Casino purchase has been complete. The New Jersey Casino Control Commission formally gave its approval for the Ilitch Organization to acquire 50% of the property for $175 million. Luxor Capital Group, the other owners of this property, released a statement to the media today expressing excitement about this news.

“We are excited to welcome the Ilitch organization to Atlantic City,” Luxor officials said. “Their investment gives Ocean access to growth capital, and provides a strategic partner to Luxor. Over the last year, Ocean’s team has progressed under new leadership that features top executives in the gaming and hospitality industries. Since that time, Ocean has strengthened its position in the market and continues to gain market share. We look forward to moving the business forward with Ilitich’s partnership.”

Many of the casinos in Atlantic City are now anticipating another phenomenal year in 2022. Here’s a look at how things may change in this East Coast gaming hub over the next 13 months.

Forecasting Atlantic City’s Performance in 2022

Major gambling hubs like Atlantic City and Las Vegas were devastated by the events that unfolded last year. Some predicted the country’s land-based casino industry would take years to recover. Incredibly, things have turned around in a major way throughout 2021 and analysts are now looking ahead at what to expect next year.

There is reason to believe that things will continue to improve. The pandemic appears to be slowing down once again and that could lead to renewed interest in travel. Many on the East Coast will likely make the trip to Atlantic City for its gambling and entertainment options.

Many of the properties here have recently announced major renovation projects. It seems these are being done in an attempt to bring in more visitors. The Ilitch Organization’s Ocean Casino purchase may help to fund the renovation project being planned inside this venue.

Atlantic City’s sports betting industry will continue to thrive as well. It may face more competition from New York, which plans to launch its own online sportsbooks in the near future. That could lead to lower revenue figures for New Jersey-based sports betting companies.

The future looks bright for Atlantic City next year. Assuming another variant does not bring the country to a standstill, the casinos here should see some impressive revenue figures.

More East Coast Gaming Hubs Look at Expansion

New Jersey is not the only state in the Eastern United States with an impressive casino industry. In recent years, many of the states in this area have looked to expand their own casino and sports betting industries. There is simply too much money on the table for various state leaders to ignore.

Pennsylvania has quickly developed one of the biggest gambling markets in the country. A huge number of tribal and commercial casinos currently operate here. This state is also home to a large and very successful sports betting industry.

Maryland is doing what it can to compete with other gambling hubs in the region. A few casino-resorts are currently operating here. Online sports betting launched here recently and officials are now working hard to get the state’s first land-based sportsbooks up and running.

The aforementioned New York is looking more closely at gambling expansion plans, too. State leaders have begun to realize how much revenue is flowing into Pennsylvania and New Jersey. A push for a Class III casinos in New York City continues and online sportsbooks could launch here in 2022.

What do you think of the Ilitch Organization’s Ocean Casino purchase? How do you think Atlantic City will fare next year? Let us know in the comments section below!

Bally’s Expansion in Nevada Continues to Progress

Las Vegas Sign And Money With Strip Background

Bally’s Corporation has been busy lately trying to grow its various gaming operations around the United States. The company has put a particular emphasis on further breaking into the Nevada casino market. New reports claim that Bally’s expansion in Nevada is making some serious progress.

A lot is changing in the US casino industry right now. 2022 is shaping up to be one of the biggest years in history for casino companies around the country.

Here’s a quick look at what is happening with Bally’s Corporation right now.

Gaming Board Gives Approval For Bally’s Expansion in Nevada

Nevada is home to the largest number of casinos in the United States. It’s here that many of the country’s biggest and most profitable casino operators are based. Bally’s Corporation, currently based in Rhode Island, has recently begun to make a sustained effort to break into Nevada’s casino market.

This company purchased the Tropicana Las Vegas earlier this year in a deal valued at $308 million. It was a huge move for the company and marked its first property located on the Las Vegas Strip. Bally’s has since been looking at other ways to break into Las Vegas.

Earlier this week, the Nevada Gaming Board unanimously approved Bally’s acquisition of Gamesys Group plc. Gamesys is a major online gaming operator based in the UK. Bally’s takeover of this company allows it to offer more unique gambling operations throughout the United States.

This deal will better facilitate Bally’s expansion in Nevada. It should help the company to offer online operations including sports betting, online casino options, poker, bingo, daily fantasy sports, and free-to-play games. Many of these new gaming options will likely be featured inside the Tropicana Las Vegas.

Bally’s is certainly entering into a hot market. Let’s take a look at how the casinos in Las Vegas have been faring over the past few months.

Gambling Revenue in Nevada Passes the $1 Billion Mark in August

Las Vegas experienced a massive fall from grace in 2020. In March of that year, all of the casinos in this city were forced to shut their doors. It wasn’t until June that any of the gambling properties in this city were given permission to open their doors again.

Gambling revenue remained extremely low for all of 2020. Incredibly, things completely turned around in 2021. The city has set several monthly casino revenue records and continues to bring in a huge amount of money. This past August marked yet another month in which casinos around Nevada brought in more than $1 billion in total GGR.

Clark County unsurprisingly brought in the most money. It’s here that the casinos managed to bring in $993.4 million in total revenue. In total, more than $6 billion was wagered inside the state’s casinos and August’s GGR is up 57% when compared to August of 2020.

This is shaping up to be the best year in history for Las Vegas’ casino industry. The past nine months have proven that there is a serious pent-up demand among Americans to visit and gamble in Las Vegas. Many are expecting another fantastic month for the city’s casinos over September.

The casino operators in Las Vegas have been making big moves lately. Here are some of the most notable sales and purchases in the city to come up recently.

Biggest Las Vegas Casino Sales to Take Place in 2021

Things are constantly changing in Las Vegas. Casino companies here work to expand and increase their revenue figures. Sometimes that means selling properties and other times that means purchasing major casino-resorts.

2021 has brought about many of these sales and purchases. Las Vegas Sands, one of the most powerful gaming companies in the world, famously sold The Venetian earlier this year. This casino sale was made so that LVS can focus more on its operations in Macau.

MGM Resorts International is another powerful gaming company based in Nevada. Just weeks ago, news broke that this company had agreed to take over The Cosmopolitan. It will continue to pay rent on the real estate that this casino sits on.

While not necessarily a sale, the opening of Resorts World Las Vegas made serious headlines this summer. At $4.2 billion, this is the most expensive casino ever built in the city. A huge number of tourists made the journey to Las Vegas to see what this new property has to offer.

Bally’s expansion in Nevada is ongoing. We’ll be sure to continue offering updates on this company’s move into the country’s top gaming hub. Stay tuned for updates!