888 Grows in the US with Colorado, Indiana, and Iowa Deals
Leading iGaming and sports betting operator 888 has signed three pivotal partnerships to help the company pivot towards the US markets, breaking ground in crucial jurisdictions with 888sport, the company’s sports betting division, with iGaming to follow throughout 2021.
Separate partnerships have been signed in Colorado, Indiana and Iowa, granting 888 access to what the company expects to be highly-profitable markets. 888’s revenue in the United States has risen by 90% in the first months of the year so far, but 888 is only going to consolidate its footprint.
These agreements are part of the company’s strategy to cement its position in the online gaming market in the United States and make its mark on important states, which are only opening up to sports betting and iGaming.
Itai Pazner, 888 CEO, has said that the company is focusing on breaking ground in key new jurisdictions and through sports betting, as it’s the fastest-growing vertical currently in the United States.
However, iGaming should be next, the executive assures. Yaniv Sherman, Head of Commercial Development for 888, had a similar point to make. He noted that the company will enhance the brand-building opportunities in the market and boost access, giving 888 a firm foothold through the door.
While 888sport may be leading the charge, the entire fleet of the company’s brands, from casino to poker, is likely to continue growing throughout the country.
Everi Launches Cashless Digital Wallet in WinStar Casino and Resort
Everi is making a step forward in the United States, teaming up with WinStar Casino and Resort to provide one of America’s biggest casinos with cashless payment technology. Powered by the Everi’s CashClub Wallet, WinStar will get access to a solution that allows consumers to participate effortlessly on WinStar’s gaming floor and make deposits without touching physical money.
The wallet will empower consumers to play at any of the 8,500 electronic games or 100 table games as well as apply to all the other facilities and amenities located on the territory of the resort. The push towards a cashless economy has been becoming more apparent, especially in the conditions of a global pandemic.
The American Gaming Association (AGA), an industry trade body, has called for better regulation of such cashless solutions in places like Atlantic City and Las Vegas in a bid to expedite the adoption of the technology.
Michigan Tribal Operators Open up to Mobile Gambling
Michigan is drawing closer to the legalization of its online gambling industry and with this, the state’s tribal casinos are putting plans in place that would allow them to go with the flow rather than try and oppose an inevitable change.
Tribal casinos in Michigan, which have long claimed exclusivity over the gambling segment, are now waking up to the realities that online gambling is coming, and they should be prepared.
According to reports, online gambling should be launching in the state in a matter of weeks, which is an expedited schedule that nobody has hoped for. Tribes are upbeat, though, and instead of contesting the issue, they are embracing it, with Gun Lake Casino’s VP and general manager Jose Flores saying that the operator will be ready on time when online gambling arrives.
He commented on the casino’s choice to adopt sports betting on-site, arguing that the product has been very welcome within the community. Sports betting has been just as an important part of Michigan casinos as the regular gaming sector.
Thanks to online gambling regulations, consumers will be able to elevate their iGaming and betting experience in the state moving forward, say tribal operators and executives.
Texas’ Mogul Fertitta Plans an IPO for Casino Empire
According to sources close to the matter, Tilman Fertitta, the mogul behind a sizable casino empire is planning to take his business public and benefit from the additional funding that this entails.
Based on reports shared by leading media outlets, Fertitta is still only discussing the possibility of an Initial Public Offering (IPO) while still weighing the benefits and drawbacks.
Should an IPO go ahead, it can affect a number of properties owned by Golden Nugget and Landry, and it could push the company’s valuation to several billion dollars at least, sources said.
Fertitta has a sizable ownership in gaming and entertainment fields, including the National Basketball Association franchise Houston Rockets.
The Nevada Gaming Control Board Stops Crusade against Steve Wynn
Steve Wynn has seen himself in a lot of trouble after employees lodged complaints against him, alleging sexual assault, following a report by the Wall Street Journal. However, the Nevada Gaming Control Board (NGCB) now may be close to stopping all attacks on Wynn’s personality as unfit to hold a gambling license.
Clark County District Judge Adriana Escobar agreed with Mr Wynn’s defense which argued that since he had removed himself as Wynn Resorts chief executive, the board had no oversight or say in any of Mr. Wynn’s matters.
The Board has not been exactly silent in the matter, lodging various complaints and seeing Mr. Wynn pay a $20 million fine, a record for Nevada and the gambling history in the state. However, with more support rallying behind Mr. Wynn, including from members of the board, the NGCB may finally be ready to turn a new leaf.
Caesars Selling Louisiana Casino Queen Property
Caesars has agreed to sell its Belle of Baton Rouge riverboat casino to Casino Queen’s parent company, CQ Holding Company. The specific financial terms of the partnerships have not been disclosed, but this is a continuation of Caesars strategy to streamline its real estate properties and cut ties with properties it doesn’t want to physically own any more.
Caesars chief Tom Reeg used the occasion of the deal to thank Caesars team members for their hard work and resilience during the pandemic and wished them the best under Casino Queen’s new owner. Caesars continues to sell off properties, some of which it deemed good openings for its real estate business and others which were a regulatory prerequisite to complete a $17.3 billion acquisition with Eldorado Resorts.