{"id":577,"date":"2020-01-28T11:43:42","date_gmt":"2020-01-28T11:43:42","guid":{"rendered":"https:\/\/www.casinosites.us\/news\/?p=577"},"modified":"2020-05-15T17:41:26","modified_gmt":"2020-05-15T17:41:26","slug":"igaming-news-eldorado-and-caesars-detroits-1-45bn-profits","status":"publish","type":"post","link":"https:\/\/www.casinosites.us\/news\/igaming-news-eldorado-and-caesars-detroits-1-45bn-profits\/","title":{"rendered":"iGaming News: Eldorado and Caesars, Detroit&#8217;s $1.45bn profits"},"content":{"rendered":"\n<p>The most notable iGaming news from within the US in the past week;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Eldorado Finally Gets Louisiana\u2019s\nApproval to Acquire Caesars <\/h2>\n\n\n\n<p>After a long-awaited regulatory decision, <strong>Eldorado Resorts<\/strong> have\nfinally secured the go-ahead from Louisiana and can now proceed with the\nacquisition of <strong>Caesars Entertainment Corporation<\/strong>. <\/p>\n\n\n\n<p>According to the <a href=\"https:\/\/finance.yahoo.com\/news\/eldorado-resorts-secures-approval-louisiana-172500827.html\"><strong>Louisiana Gaming Control Board<\/strong><\/a>, the $17.3 billion deal meets all\nregulatory criteria that are expected in such a move and can proceed. This is\nan important milestone for the merger as an approval from Louisiana was one of\nthe main prerequisites for the deal to go ahead. <\/p>\n\n\n\n<p>Moving forward, Eldorado expects to finalize the deal and acquire Caesars within the first six months of the year. More regulatory approval and other closing conditions are yet to be met, but the deal is proceeding according to schedule.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Detroit\u2019s Casinos Post a\nRecord $1.45bn for 2019<\/h2>\n\n\n\n<p>Even though Detroit\u2019s economy has been moribund, the casino sector has\nbeen booming. The revenue collected from casinos in Detroit, Michigan through\nDecember 31, 2019 has reached $1.45 billion, a staggering overall number. <\/p>\n\n\n\n<p>Combined gross revenue for the leading properties, to name <strong>MotorCity\nCasino<\/strong>, <strong>Greektown Casino<\/strong> and <strong>MGM Grand Detroit<\/strong> inched up 0.7%\nyear-on-year, marking up a $10 million improvement from a year before. <\/p>\n\n\n\n<p>MGM Grand Detroit specifically managed to claim $623.5 million, which\nwas another 0.7% higher than the results posted in 2018. MGM Grand is also the\nproperty with the biggest market share in Detroit right now, claiming some 43%\nof the total casino sector.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Mobile Betting\u2019s a No in\nNew York State<\/h2>\n\n\n\n<p>The Empire State has decided against enabling <a href=\"https:\/\/newyork.cbslocal.com\/2019\/11\/05\/new-york-mobile-sports-betting-approval\/\">mobile sports betting<\/a> for the time being. After <strong>Senator\nJoseph Addabbo<\/strong> has been a staunch supporter of the move, he has faced\nopposition on multiple levels.<\/p>\n\n\n\n<p>The Governor, <strong>Andrew Cuomo<\/strong>, is reluctant to allow sports betting\nto expand quickly throughout New York. Instead, New York will have to continue entertaining\nthe same familiar sports betting options, i.e. within casino sportsbook\nlounges.<\/p>\n\n\n\n<p>On April 1, 2020, the state will see a small expansion of operations \u2013\noutside the lounges \u2013 but still within the confines of the upstate casino.<\/p>\n\n\n\n<p>Sen. Addabbo has argued that this decision is counter-productive and\nbars the state from scooping up much needed revenue that is now seeping through\nacross the state\u2019s border in other neighboring regions or even offshore.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">FIFA Steps Up Its Effort\nto Protect Sport<\/h2>\n\n\n\n<p>Soccer global regulatory body <strong>FIFA<\/strong> has issued a new <strong>toolkit<\/strong>\noutlining guidelines to preserve the integrity of the sport. With one\ncorruption scandal rocking the organization after another, FIFA is finally\ncommitted on tackling foul play across the world.<\/p>\n\n\n\n<p>While FIFA cannot oversee every single league under its brand, it can\ncontinue to work closely with sports regulators from around the globe, trying\nto provide parties tasked with upholding the integrity of the sport with the\ntools they need to stay competitive and on top of any match-fixing.<\/p>\n\n\n\n<p>FIFA has attached an <strong>e-Learning Tutorial<\/strong> to its toolkit that\nwould allow regulators to focus on identifying match-fixing and fight\ncorruption. This is all part of the organization\u2019s efforts to keep sports\nclean, FIFA\u2019s deputy chief legal and compliance officer <strong>Oliver Jaberg<\/strong>\nsaid.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Betfred Shakes Hands with\nSaratoga for Colorado Sportsbook Deal<\/h2>\n\n\n\n<p><strong>Betfred\u2019s<\/strong> gambling expansion in the United States continues after the British\ncompany\u2019s U.S. subsidiary shook hands with <a href=\"https:\/\/www.prnewswire.com\/news-releases\/betfred-usa-sports-and-saratoga-casino-black-hawk-sign-agreement-for-colorado-sports-betting-operations-300991930.html\"><strong>Saratoga Casino Black Hack<\/strong><\/a> in <strong>Colorado<\/strong> and agreed to set up a\nsports betting shop. <\/p>\n\n\n\n<p>As per the deal \u2013 which will have yet to clear regulatory approval \u2013\nBetfred will run a full-scale sportsbook for Saratoga in the state, as Colorado\nprepares to be one of the largest sports betting states in the country.<\/p>\n\n\n\n<p>After legalizing the industry in November 2019, the state has been\npushing for an active regulatory framework that would allow Colorado to claim a\nfair chunk of the sports betting revenue that is right now syphoning off to\nneighboring states. <\/p>\n\n\n\n<p>Commenting on the partnership, Saratoga Casino Black Hack president <strong>Daniel\nGerrity<\/strong> said that the tribe was excited to welcome Betfred in its midst and\nrecognized Betfred\u2019s lineage spanning over 50 years on the domestic and\ninternational markets.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">MS Sportsbooks Takes a\nTumble<\/h2>\n\n\n\n<p>Mississippi casinos post a subdued sports betting overall revenue in\nDecember, with the total amount generated sliding down 43.7% year-over-year\n(YOY), the lowest to date. Even though the handle actually went up, revenue\nplummeted. MS coastal casinos were once again the busiest, drawing the biggest\ncrowds, but they also suffered the greater declines in December.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">SG Launches its OpenGaming\nSuite with DraftKings for New Jersey<\/h2>\n\n\n\n<p><strong>Scientific Games<\/strong> has introduced its <strong>OpenGaming<\/strong> suite in <strong>New\nJersey<\/strong> as a part of partnership deal with DraftKings, a sportsbook and DFS\nplatform with a broad footprint in the United States. As a result, DraftKings\nwill be able to integrate SG\u2019s full portfolio in its own online websites thanks\nto the Open Gaming System aggregation platform provided by SG.<\/p>\n\n\n\n<p>Commenting on the partnership, SG Digital SVP for casinos, <strong>Dylan\nSlaney<\/strong>, said that New Jerseys\u2019 casino sector is booming and more positive\nchanges are coming to the sector. Signing up a partnership with DraftKings in\nthe state, Slaney explained, meant that two market leaders had entered the\nstate.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Penn National Scoops Up\nApple Talent<\/h2>\n\n\n\n<p>Penn National Gaming has appointed an Apple executive, <strong>David William<\/strong>,\nto sit as the company\u2019s new chief financial officer and vice president. Mr.\nWilliam will step into his new position on March 3 and he will be responsible\nfor various growth initiatives as well as new strategic accomplishments to help\npush the company in new directions.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Sportradar Continues to\nBolster Safety in Sport<\/h2>\n\n\n\n<p>After teaming up with <a href=\"https:\/\/www.sportradar.com\/news-archive\/sportradar-extends-relationship-with-tennis-australia\/\"><strong>Tennis Australia<\/strong> earlier last week<\/a>, <strong>Sportradar<\/strong> added another\nimportant partnership with the Asian Football Confederation (AFC) on January\n24. The partnership will last through 2023 and it will cover the Asia Cup China\n2023 tournament.<\/p>\n\n\n\n<p>As a result, Sportradar will support the AFC Integrity Unit which oversees\nsoccer games in Asia and strives to offer an environment that is free of\nmatch-fixing and other forms of foul play. Sportradar has been one of the most\ndedicated companies striving to maintain the safety of sports across the world.\n<\/p>\n","protected":false},"excerpt":{"rendered":"The most notable iGaming news from within the US in the past week; Eldorado Finally Gets Louisiana\u2019s Approval to Acquire Caesars After a long-awaited regulatory decision, Eldorado Resorts have finally secured the go-ahead from Louisiana and can now proceed with the acquisition of Caesars Entertainment Corporation. According to the Louisiana Gaming Control Board, the $17.3 [&hellip;]","protected":false},"author":3,"featured_media":586,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28],"tags":[47,49,48,50,44,17],"class_list":["post-577","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry","tag-caesars-entertainment","tag-detroit","tag-eldorado-resorts","tag-fifa","tag-new-york","tag-sports-betting"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>iGaming News: Eldorado &amp; Caesars Deal, Detroit&#039;s $1.45bn Casino Profits<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casinosites.us\/news\/igaming-news-eldorado-and-caesars-detroits-1-45bn-profits\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"iGaming News: Eldorado &amp; Caesars Deal, Detroit&#039;s $1.45bn Casino Profits\" \/>\n<meta property=\"og:description\" content=\"The most notable iGaming news from within the US in the past week; Eldorado Finally Gets Louisiana\u2019s Approval to Acquire Caesars After a long-awaited regulatory decision, Eldorado Resorts have finally secured the go-ahead from Louisiana and can now proceed with the acquisition of Caesars Entertainment Corporation. According to the Louisiana Gaming Control Board, the $17.3 [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casinosites.us\/news\/igaming-news-eldorado-and-caesars-detroits-1-45bn-profits\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino Sites US News\" \/>\n<meta property=\"article:published_time\" content=\"2020-01-28T11:43:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-15T17:41:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casinosites.us\/news\/wp-content\/uploads\/sites\/2\/igaming-round-up-eldorado-caesars-detroit-profit.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"418\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Kevin Parker\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta 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