Indy Gaming: Caesars enters NYC casino skirmish after first rejecting the idea
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Caesars Entertainment announced a partnership with SL Green Realty Corp. on a venture to develop Caesers Palace Times Square. Caeres Entertainment CEO Tom Reeg had previously said it was unlikely the company would enter the New York casino market. The RFP process for the casino will start in early 2023. New Yorkers approved a bill to provide for three downstate gaming licenses in 2013. Lawmakers touted union jobs, increased tourism and tax revenue. It was also set aside to give a casino license to SL. Green CEO Mark Holliday said there wasn't much to be revealed until New york releases the request for proposal (RFP) for a new casino.
Las Vegas Sands sold its Strip holdings in February. The company invested billions of dollars in Macau and Singapore. Macao is struggling. Singapore is on the upswing. The Marina Bay Sands in Singapore took in $756 million of Sands' $1 billion in revenue in the third quarter. Analysts are unsure when Maca's casino market will return to profitability. Las Vegas Sandes is one of seven casino operators seeking one 10-year gaming concessions in China. It spent $15 billion developing its Macaus resorts over the last 20 years. Before the $6.25 billion sale of Venetian, Palazzo and Veneta, 72 percent of its pre-pandemic annual revenue came from its properties in that region.
Monarch hopes to expand in New York like it did in Colorado.
Monarch Casinos completed a $442 million expansion to its Monarch Casino Resort Spa in Black Hawk, Colorado. The company's third-quarter revenues grew almost 20 percent to $134 million. Monarch doesn't break out results between the Blackhawk casino and the company’s Atlantis in Reno. CEO John Farahi said the guest response to the hotel renovations has been very positive. Stifel Financial gaming analyst Jeffrey Stantial told investors Monarch is well positioned given economic tailwinds in the Denver area and Reno area.
Joe Kaminkow is a member of two casino industry-related halls of fame. He is the chief innovation officer of Aristocrat Gaming. Kaminksow has designed more than 1,500 games across multiple gaming formats and markets. He was inducted into the American Gaming Association’s Gaming Hall of Fame and Eilers & Krejcik Gaming”s Slot Hall Of Fame. Before joining Aristocrats, Kaminske co-founded Spooky Cool Labs, a Chicago-based design studio that created social games for the internet.
MSG Sphere taps former Allegiant executive to oversee $1.9B project. Raul Gutierrez was most recently vice president of operations at Allegiance Stadium. He previously held an operations position at T-Mobile Arena and held operations positions with Barclays Center in Brooklyn and BBVA Compass Stadium in Houston. The Sphere is under development on 19 acres across Koval Drive from the Venetian resort.
Sightline Payments completed a round of funding from J.P. Morgan Payments. The company will work with the investment bank to develop an “omnichannel solution” for cashless wagering at land-based casinos and with online gaming companies.
The tribal coalition was seeking to qualify a ballot question in 2024 that would allow California’s Indian casinos to offer mobile sports wagering. The measure fell short of the signature threshold. Instead, the group's attention was focused on killing Proposition 27, a mobile betting question on next month's ballot.
