Indy Gaming: Aristocrat Americas president sees convergence with online and casinos
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Tom O'Brien was promoted to president of Aristocrat's Americas Division in February. O’Brien's predecessor, Hector Fernandez, was appointed CEO of the company's land-based gaming products and services division. Mitchell Bowen, who was CEO for the land based division, is now heading the group that is growing Aristocrats' online gaming segment. Online gaming is hot and both players can play both online and at casinos. Aristocratic has been working with "a couple of big operators" on building an online platform that appeals to both market segments. It's aimed at increasing the presence of land base casinos in the online market.
Analyst Barry Jonas met with Strip and locals casino operators and gaming industry contacts. He found that Las Vegas locals customer market will continue to boost the bottom lines of major casino operator.
After two years of lockdowns and operating restrictions, Las Vegas casino operators say the market is recovering. Caesars Entertainment and MGM Resorts International have seen an increase in bookings for group events and large-scale conferences for the second half of the year. Red Rock Resort CFO Steven Cootey said inflation and gas prices might be keeping some customers away. MGM has avoided any ill effects from the current spike in fuel costs. The Consumer Electronics Show saw a 70 percent decrease in average attendance at MGM's group business at the beginning of this year, but the company expected the softness to be a short blip.
Macau's gaming revenue in March was the region's lowest in a year and a half. The decline was due to the continued COVID-19 travel restrictions from the primary mainland China regions. Macau casinos collected $10.8 billion in gaming revenues in 2021. The gaming market is down almost 25 percent compared to 2021, but the current concession holders will be allowed to move forward with 10-year licenses and the potential of three- year extensions. In January, the Executive Council clarified the casino relicensing process. It extended the concession until the end of the year.
Sportradar is a betting information provider. It has been involved in the sports betting industry since the 1990s. Its business has grown rapidly thanks to its partnerships with the NBA, NHL, MLB, NASCAR and FIFA. The company follows more than 750,000 events annually covering 83 sports. SportsHandle reported Sportradars didn't sever ties with sportsbooks in Russia after the country's invasion of Ukraine on February 23. Most Fortune 500 corporations suspended operations in that country in protest of the military action. Sports Handle reported CEO Carsten Koerl had an investment in Liga Stavok, a Russian sportsbook.
The Palms Casino Resort will reopen on April 27 after being closed for more than two years. Southern California's San Manuel Band of Mission Indians acquired the property for $650 million from Red Rock Resorts in December. The tribe is planning a fireworks show on the Palm's opening night. Scientific Games completed the previously announced sale of its legacy lottery business to Brookfield Business Partners for a reported $5.8 billion. Light & Wonder is expected to see $ 5 billion in after-tax proceeds from the sale. MGM Reserves International donated $250,000 to the International Center for Responsible Gaming.
