Backers tout billions in tax revenue and thousands of jobs. Meanwhile, opponents warn that the project could hinder Broadway’s revival and exploit vulnerable residents.

The Times Square casino project also received backing from civil rights activist Rev. Al Sharpton and Ryan Williams, founder of the real estate investment platform Cedre.

Caesars Times Square is one of eight hopefuls that hope to receive one of three coveted downstate New York casino licenses.

Caesars announced a partnership with Sharpton and Williams, which aims to invite local households to participate in the project. It would offer $500 ownership stakes under an “inclusive ownership.”

The Times Square casino process has been slow, but it’s finally reaching a critical point. The application deadline is June 27, and the winners are expected to be announced by the end of the year.

Developers Claim Backing From Over 200 Organizations and Businesses

The Caesars Palace Times Square partners predict that the project will create 7,000 permanent and 3,000 construction union jobs.

In addition, they expect that it will improve the infrastructure, bring more tourists, and increase the safety of the area. The developers have pledged to limit the project’s number of restaurant and hotel spaces to create demand for neighborhood businesses.

Recently, the partners also pledged a $5 million commitment to support the Callen-Lorde Community Health Center if they are selected for the license. Of that amount, $3 million would go towards a new Callen-Lorde Community Health Center for Excellence in Sexual Health.

The developers claim that over 200 organizations and businesses support the casino. They include local restaurants, hotels, residents, and unions such as the Actors’ Equity Association.

Recently, Wyndham Hotels & Resorts President and CEO Geoff Ballotti expressed support.

Project Receives Backing From Sharpton, Williams

The Times Square casino project now has Sharpton and Williams getting into the mix through a Caesars partnership.

Sharpton noted that the Times Square casino is the best opportunity for local stakeholders to participate in the decision-making process. He cited Jay-Z‘s leadership of Roc Nation in the project, who has been vocal in his support.

“Thanks to the leadership and vision of Jay-Z, we believe that for the very first time our community will not only have a seat at the table but also the opportunity to have a stake in the ownership of Caesars Palace Times Square,” Sharpton said.

Williams added that the initiative “overcomes longstanding barriers” and brings the potential to transform equitable ownership models.

Anti-Casino Coalition Believes Casino Will Hurt the Area

The project also faces significant opposition. An anti-casino coalition, which includes the Broadway League, IATSE, Sardi’s, The Shubert Organization, block associations, and others, recently held a rally against the proposed Times Square casino.

The Broadway League says the proposal is a threat to the theater industry:

“The last thing Times Square needs is a casino. We never needed a casino to bring Broadway back,” Jason Laks, the president of the Broadway League, said. “I think it could be an existential crisis for Broadway. I think it could put our theaters at risk, our communities at risk, the neighborhood at risk.”

The coalition also claims the casino would prey on vulnerable New Yorkers. It contradicts developers’ claims that it will ease congestion and crime.

Some local politicians are also against a Times Square casino. State Sen. Brad Hoylman-Sigal (D-47) has said he’s 100% opposed to it. Hoylman-Sigal, who will likely be the next Manhattan Borough President, believes the casino would have an adverse impact on mental health.

He echoed the coalition’s claims that the casino would prey on the vulnerable population and added,

“I haven’t had a single constituent come up to me and say, ‘Senator, let me have a casino in my neighborhood.’ It’s not going to happen under my watch.”

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LD 1164 is titled “An Act to Create Economic Opportunity for the Wabanaki Nations Through Internet Gaming.” 

The bill’s language would authorize each federally recognized Indian nation, tribe, or band (together known as the Wabanaki Nations) to operate Internet gaming. It explicitly states: “Only a federally recognized Indian nation, tribe or band in this State is eligible to obtain a license and operate Internet gaming.” 

The licensing structure would follow the law governing online sports wagering, which the Wabanaki Nations already operates. 

Currently, Caesars Entertainment works with three of the four tribes and DraftKings the other. There was a notable omission of heavyweight industry FanDuel and other brands such as BetMGM. 

Tribes and Operators Present Arguments in Favor of LD 1164

The Maine legislature has received written testimony from multiple stakeholders. Unsurprisingly, DraftKings and Caesars have supported the proposed legislation, whereas FanDuel, PENN, and Churchill Downs have opposed it. Several public health arguments also oppose the legalization of online gaming in the state.

Rep. Ambureen Rana, a bill sponsor, emphasized that legalization would “ensure that internet gaming revenue is kept in Maine, to benefit Maine communities.” 

Testimonies from tribal leaders stated that currently, Maine citizens already gamble online, but illegally, without consumer protection, and as a result, there’s missed economic opportunity. Chief Pos Bassett of the Passamaquoddy Tribe at Sipayik testified: “LD 1664 will generate revenues that will help us save enough money to do things like move our wastewater treatment plant and survive what’s to come from rising sea levels.” 

He continued: “[Online gaming] is already happening on peoples’ phones. Why not use the existing activity to benefit state and trivial governments?” 

Chief William Nicholas Sr. of the Passamaquoddy Tribe at Motahkomikuk echoed this positive sentiment. He said the bill “provides consumer protection and creates new governmental revenue without raising taxes on citizens.” 

Matt Scalf, Government Affairs Manager at DraftKings, voiced the operator’s support, stating: “Building on that, we are proud to be testifying here today in support of the Passamaquoddy Tribe and online gaming that supports economic independence for Maine’s tribal nations.” 

“Regulating online gaming provides new revenue… while setting consumer protections and regulating an illegal activity that is flourishing across the country,” added Scalf. 

Caesars Entertainment was also vocal in its support of the proposed legislation. The company currently partners with the Houlton Band of Maliseet Indians, the Mi’kmaq Nation, and the Penobscot Nation to offer online sports wagering. 

Joseph Tyrell, Caesars’ Vice President for Government Relations commented: “We support the iGaming tax rate of 16%… which we estimate could generate about $35 million in tax revenue to the state of Maine in the first year.” 

Oxford and Hollywood Casinos Raise Job Loss Concerns

However, there is vociferous opposition from all angles. Oxford Casino & Hotel and Hollywood Casino both voiced concerns about the impact on commercial casinos should they not be included in any legislation.

Matt Gallagher, General Manager of Oxford Casino & Hotel, said: “This bill would create an internet gaming monopoly for the Wabanaki Nations, with little economic benefit to Maine.” 

Chris Jackson, on behalf of Hollywood Casino & Raceway, added: “This would take money out of the State while creating minimal jobs, and worse, likely costing jobs by taking customers away from our two commercial casinos.” 

John Williams echoed this sentiment from the Oxford Hills Chamber of Commerce, who stated, “LD 1164 would threaten jobs in Oxford and Penobscot County while creating no new jobs in Maine.” 

Steve Silver, Chair of the Maine Gambling Control Board and often a supporter of gambling legalization, stated he could not support the bill as it is written. “Oxford and Hollywood Casinos employ nearly 1,0000 Mainers. Legalizing iGaming without permitting them to participate will lead to job cuts,” he said. 

Michael Venture, who works in State Government Relations for FanDuel, claims the proposed legislation and creation of a monopoly could drive further black market activity: “We are concerned that it will not create the healthy, regulated market that we have seen in many other states.” 

“The lack of legitimate choice for the consumer can encourage individuals to seek alternative methods outside of the regulated landscape,” he continued. 

Public Health Advocates Sound Alarm on Addiction Risks

A legislative debate around broadening gambling legalization wouldn’t be complete without public health advocates lambasting legalized online gaming. Nicholas Adolphsen, Executive Director of the Christian Civic League of Maine, testifies: “LD 1164 will not create opportunity—it will create orphans. It will rob children of fathers… and embolden an industry that profits off addiction.”

Dr Patty Hymanson, a physician, gave testimony, suggesting that bringing another addictive vice into the legal mainstream will put further strain on Maine’s behavioral health workforce. She emphasized: “Please be sure to find a funding source to identify and treat increased gambling addiction. In Maine, we do not have an adequate workforce to treat behavioral health problems as it is. Before adding Mainers and their families who will be hurt by this addiction, make sure there is a behavioral health system that can help to catch them.” 

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The completion of the deal also marks the expansion of igaming market access for Caesars, through the Sault Ste. Marie Tribe of Chippewa Indians, further tapping into the potential engagement of the region.

Eric Hession, President of Caesars Digital, commented on the deal: “Caesars Entertainment would like to thank the Sault Ste. Marie Tribe of Chippewa Indians and the Michigan Gaming Control Board for their collaboration through this process.”

Aiming for a smooth transition period with minimal friction, Caesars will assume operations on the existing platform under the WynnBET brand with no anticipated impact to the customer experience. 

It’s expected to provide a key uplift for Caesars after the firm endured a challenging start to the year – with a “lower-than-expected hold” across several segments.

Upon publishing the group’s Q1 results, CEO Tom Reeg noted that despite setbacks due to headwinds across Las Vegas and regional operations, the operator remains “optimistic toward improved operating results throughout the balance of the year”.

He said at the time: “Operating results during the first quarter in Las Vegas are a combination of record occupancy, driven by the Super Bowl and international visitation for Chinese New Year, offset by lower-than-expected hold.”

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In what is a boost to the operator’s igaming output, the partnership will deliver Caesars Palace Frenzy to New Jersey’s igaming market with plans to bring the game to Michigan and Pennsylvania.

Caesars Digital SVP and Chief igaming Officer Matt Sunderland, commented on the deal: “We’re committed to collaborating with top gaming providers to launch custom online casino experiences for our players that can’t be found anywhere else. Caesars Palace Frenzy delivers on that commitment by providing an elevated gaming experience that we’re certain our players will enjoy.”

It builds on continued ambitions for Caesars to enhance its already diverse portfolio of igaming titles through a myriad of partnerships.Last week, the company announced Caesars NHL Blackjack, a new live dealer igaming title. The game was released ahead of the Stanley Cup Playoffs as part of a renewed marketing deal between Caesars and the NHL. Caesars NHL Blackjack, which is developed in partnership with Evolution.

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The gaming operator announced that it will be showcasing its extended partnership deal with the NHL with a new live dealer game, debuting ahead of the Stanley Cup Playoffs. 

Caesars Digital SVP & Chief iGaming Officer Matt Sunderland, commented: “Customising our online casino offering to provide experiences true to the Caesars brand remains a key area of focus for us. 

“The launch of Caesars NHL Blackjack is an exciting moment that enhances our ability to provide our players with an eye-catching game custom to their interests. 

“Adding the NHL Shield to our live dealer content is only the beginning as we continue to expand our partnership with the League to launch more NHL-branded iCasino games for our online casino platforms.”

Caesars NHL Blackjack is the result of a renewed partnership between the NHL and Caesars. Last month, the two entities agreed to a multi-year deal to keep Caesars as an official sports betting and gaming partner of the league.

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Through the partnership, Greentube has offered Caesars a collection of localised slot content to target players in New Jersey and Michigan on its Caesars Palace Online Casino and Caesars Sportsbook & Casino platforms. 

Additionally, the collaboration has announced that, in addition to the New Jersey and Michigan integrations, further US jurisdictions will be added to the deal as it develops. 

Markus Antl, Director Global Sales and Key Account Management at Greentube, stated: “Launching our content with Caesars Digital has been a key objective for us since we first entered the US, so we are extremely pleased that we have now made it a reality.

“As one of the most established industry brands in North America, we realise the potential of this partnership and we look forward to working together to not only strengthen our online presence but to also explore omnichannel opportunities.”

As a result of the deal, Caesars online casino players in the Garden State and the Great Lake State will gain access to Greentube slot releases such as Thunder Cash, Dolphin’s Pearl, Diamond Cash Mighty Buffalo and Charming Lady’s Boom. 

Ricardo Cornejo Rivas, Vice President of Online Gaming at Caesars Digital, added: “We take pride in providing the largest and most diversified collection of games for our online casino players.

“Adding Greentube’s wide and proven content portfolio to our platforms allows us to deliver fresh entertainment to our players in multiple jurisdictions that we can be confident in.”

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As a result of the deal, the ‘house of brands’ provider will become live with Caesars Digital across four states, building on the firm’s launch in New Jersey. 

Ricardo Cornejo Rivas, Vice President of Online Gaming at Caesars Digital, commented: “White Hat Studios’ diverse portfolio of gaming titles has resonated well with our players across the US market. We are excited to introduce New Jersey players to these titles, further enriching our igaming offering in the state.”

It comes after the group’s successful rollout in West Virginia in February and joins Michigan and Pennsylvania in the regulated markets where customers of Caesars Digital can access the provider content portfolio.

Daniel Lechner, SVP of Sales & Marketing at White Hat Studios, said: “Our collaboration with Caesars Digital has yielded exceptional results and we are thrilled to extend our presence into New Jersey. As a popular provider of branded iGaming content, we look forward to delivering unparalleled entertainment to Caesars’ players in the Garden State.”

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Taking its existing partnership with Caesars ‘to new heights’, White Hat’s catalogue of branded slot releases will become available on the operator’s West Virginian online casino offering. 

This will see slot titles such as Peaky Blinders and The Goonies hosted on the Caesars Palace Online Casino platform for the Mountain State. 

Ricardo Cornejo Rivas, Vice President of Online Gaming at Caesars Digital, commented: “White Hat Studios is a valuable partner for us that continues adding impressive gaming content to our platforms. 

“Their dynamic and expansive range of titles have been embraced by our players in multiple jurisdictions, so we’re thrilled to bring more of their popular games to our West Virginia players.”

White Hat Studios has also offered Caesars its jackpot function Jackpot Royale, available in 30 of the provider’s games. 

The supplier has been broadening its US presence throughout the year so far after recently agreeing to a deal with BetMGM.

Andy Whitworth, CEO at White Hat Studios, added: “We’ve seen incredible results through our partnership with Caesars, one of the leading operators in the US market, so we’re thrilled to be expanding upon that with entry into West Virginia.

“As the leading ‘house of brands’ provider, we’re extremely proud of how our IP-inspired content has been received by Caesars’ players, and we’re excited to grow engagement and retention rates even further with this development.”

The post Caesars gains West Virginia content boost from White Hat Studios appeared first on CasinoBeats.

2

Online slot stake limit changes have been confirmed by the UK government, with a maximum stake limit of £2 set to be introduced for players aged between 18 and 24 from September this year.

Although this £2 stake limit is a focal point of these changes due to under-25s having “the highest average problem gambling score of any group”, a £5 stake limit is also being introduced for all players over 25.

These stake limits bring them in line with casinos, to reduce “the increased risk of significant harm and life-changing losses from online slot games” as slots “can be associated with large losses, long sessions, and binge play”.

“Although millions of people gamble safely every single day, the evidence shows that there is a significantly higher problem gambling rate for online slot games,” commented Gambling Minister Stuart Andrew.

“We also know that young adults can be more vulnerable when it comes to gambling-related harms, which is why we committed to addressing both of these issues in our white paper.

“The growing popularity of online gambling is clear to see, so this announcement will level the playing field with the land-based sector and is the next step in a host of measures being introduced this year that will protect people from gambling harms.”

Following secondary legislation, the limits will come into force later this year in September. 

A six-week transition period will be put in place to allow operators time to be compliant with the £5 stake limit rules, followed by an additional six-week period for “the development of any necessary technical solutions” to be compliant with the £2 limit for young adults aged 18-24. 

66.5

The American Gaming Association stated that US commercial gaming achieved its third-straight year of record revenue in 2023, which included an all-time quarterly high to end the year.

According to the AGA’s Commercial Gaming Revenue Tracker, total GGR for 2023 came in at $66.5bn, a 10 per cent increase in comparison to 2022’s $60.5bn.

The year also concluded with a fourth quarter total GGR of $17.42bn, up 9.5 per cent year-over-year. Q4 2023’s December was also the highest-grossing month in industry history with $6.2bn in revenue, a 13.3 per cent uptick YoY.

Every gaming vertical across the industry, during Q4 and across 2023, saw improvements in comparison to the same period the previous year.

Including tribal gaming revenue, which will be reported later this year by the National Indian Gaming Commission. Total US gaming revenue for 2023 is expected to close in on $110bn.

AGA President and CEO, Bill Miller, said: “From the traditional casino experience to online options, American adults’ demand for gaming is at an all-time high.

“Sustaining our momentum will take unified industry efforts around combating pernicious illegal operators and growing responsible gambling efforts in tandem with the growth of the legal market—both of which the AGA is committed to lead on throughout 2024.”

80

Caesars Entertainment published its financial results for the fourth quarter and the full year 2023, declaring growth in net revenue, net income and adjusted EBITDA.

Publishing its financial results, Caesars declared Q4 net revenues of $2.83bn, up from the $2.82bn recorded during Q4 the previous year, but down on the $3bn reported in Q3. For the full year, net revenue stood at $11.5bn, an improvement on 2022’s $10.8bn.

Q4 net income came in at a $72m loss, an increase on the $148m loss recorded during the same period the previous year. For 2023, Caesars achieved a net income of $786m, a significant uptick on the $899m net loss registered in 2022.

Same-store adjusted EBITDA for the quarter was $930m, down from the $949m reported during Q4 2022. For the full year, same-store adjusted EBITDA was $3.9bn, up from the $3.2bn declared last year.

Reflecting on the results, CEO Tom Reeg commented, “Our fourth quarter operating results demonstrated consolidated net revenue growth, reduced net loss and stable consolidated adjusted EBITDA year over year. Results were driven by a 28 per cent year-over-year increase in Caesars Digital net revenue that generated a 10 per cent Adjusted EBITDA margin in the quarter.

“Full year results benefited from a 78 per cent increase in Caesars Digital net revenues to approximately $1bn, and an over $700m improvement in this segment’s adjusted EBITDA.”

In addition, the operator has already begun 2024 announcing further expansions to its digital operations, after agreeing to acquire the operations of WynnBET’s Michigan igaming business, securing market access with the Sault Ste. Marie Tribe of Chippewa Indians.

14

Kansspelautoriteit said that tackling illegal gambling providers will be of high priority for the Dutch gambling authority in 2024.

The statement follows the conclusion of two investigations the KSA conducted into the advertising of illegal gambling offers via affiliate websites and websites of online newspapers, in which it found 14 of the 33 websites investigated in violation.

According to the authority, some websites also targeted people who were registered with the country’s self-exclusion service Central Register for the Exclusion of Gambling – Cruks.

One KSA investigation focused on websites advertising illegal providers, targeting vulnerable players. The authority looked into the most visited affiliate websites and found four websites in violation. A follow-up investigation has since begun into these websites.

The other investigation sought out affiliate marketing for illegal online casinos, specifically following the ban for untargeted advertising coming into effect last July. 

In total, 10 websites were found to be advertising illegal online casinos. Following a proposed sanction decision by the KSA, five websites immediately stopped advertising, while an investigation into the remaining five websites is still ongoing.

From these investigations, it was found that seven illegal online casinos were being advertised; the authority has begun a sanction process against all of them.

The KSA added that six online newspapers were also contacted about affiliates who advertise illegal operators. All those outlets immediately removed the advertisements from their respective websites that were in violation.

611.7

Bally’s Corporation reported year-over-year growth across all revenue segments in the fourth quarter and for the full year 2023, but the company is still operating at a net loss.

Publishing its financial results, Bally’s declared Q4 consolidated revenue of $611.7m, up 6.1 per cent year-over-year (Q4 2022: $576.7m). Gaming revenue stood at $503m (Q4 2022: $461.6m).

For the full year, revenue improved by 8.6 per cent YoY to $2.45bn (2022: $2.26bn), the midpoint of the company’s guidance issued at the end of Q3. Gaming revenue stood at $1.99bn (2022: $1.85bn).

Bally’s reported a net loss for both measuring periods, although these were improvements when compared to the previous year. In Q4, the operator declared a net loss of $263.5m (Q4 2022: $487.5m net loss). For the full year, the net loss was $172.6m (2022: $425.5m net loss).

“Bally’s completed a successful 2023 with healthy results across all our business segments,” commented CEO Robeson Reeves.

“Revenues in the fourth quarter grew 6.1 per cent year-over-year to $611.7m, reflecting continued growth in our Casinos & Resorts, International Interactive and North America Interactive segments. For the full year, revenues grew 8.6 per cent versus 2022.”

CFO Marcus Glover added: “Bally’s operating teams have been focused on expense reduction and operating efficiency. To that end, we are evaluating all areas of the business and are executing initiatives to centralise certain functions and streamline others.

“We continue to make progress with our plans for the financing of the Chicago permanent casino and hope to provide additional details on those plans in the near term. In all, 2023 was an active and productive year for Bally’s and we are extremely excited by what the future holds.”

Looking ahead, Bally’s has posted its guidance for 2024, as it expects to generate revenues in a range of $2.5bn to $2.7bn and adjusted EBITDAR in a range of $655m to $695m. 

700

New York State Senator Joseph Addabbo’s proposed online casino bill faced backlash from almost 700 hospitality workers at Resorts World New York City Casino. 

Introduced by Addabbo in January, Senate Bill S8185 looks to legalise online casino gaming in the Empire State, offering licences to the four downstate casinos and the three forthcoming upstate casinos. 

However, the nearly 700 employees at Resorts World New York City Casino have accused Addabbo of undermining that implementing igaming could threaten their land-based jobs, as stated in a letter from the Hotel & Gaming Trades Council union.

“We find it appalling that you are pushing legislation that would hurt workers like us and our industry in order to benefit a handful of companies who are seeking massive profits at our expense,” read the letter. 

Resorts World workers believe that regulating online casino gambling would negatively impact land-based facilities’ abilities to drive profits as retail casino activity could decline. 

For January, the New York State Gaming Commission reported $49m in gross gaming revenue with $11.6m in gaming tax. Slots and electronic table games made up $33.9m of the state’s total revenue with traditional table games producing $14.1m and poker generating $885,334. 

“This igaming proposal undercuts the best thing about casino gaming in New York: permanent, high-quality jobs that New Yorkers can live and retire on,” added the union’s Political Director Bhav Tibrewal.

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Looking to establish its presence in the Canadian province, Hacksaw Gaming’s content offering of proprietary slot releases will now be available on both Caesars Palace Online Casino and Caesars Sportsbook & Casino in Ontario. 

Hacksaw Gaming CEO Marcus Cordesstated: “Forging partnerships with new faces is always an exciting time, but the influence of Caesars Digital is one we pride ourselves on. Launching this partnership in Ontario is the perfect place to begin our journey.”

Within Hacksaw Gaming’s product portfolio, Caesars players in the province will be able to play slot releases and instant games such as Wanted Dead or a Wild, RIP City, Hand of Anubis and Mines.

“Hacksaw Gaming brings an exciting catalogue of games to our platforms that should provide a thrilling experience for our players,” added Matthew Sunderland, SVP & Chief iGaming Officer at Caesars Digital. 

“We’re excited to see how our players engage with this content in Ontario and in jurisdictions in the future through our new partnership.”

With igaming suppliers beginning to reflect on the past year as it draws to a close, the latter half of 2023 has seen several North American developments from Hacksaw, having gained licences for New Jersey and West Virginia to operate in the US for the first time.

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