Bally’s and Hard Rock are among eight candidates vying for three highly coveted licenses. The licensing process is in a critical stage, with the final decision expected by the end of the year.

Bally’s Bronx Casino Hopes Could Be Over

On July 14, the New York City Council voted 29-9, with four absentees, to reject Bally’s rezoning application for its project at the site of the former Trump Golf Links at Ferry Point. The decision effectively ends Bally’s hopes for building a $4 billion casino resort.

Republican Councilwoman Kristy Marmorato, whose district includes the potential casino site, introduced a motion to disapprove the project.

Last month, Marmorato was among the Council members voting against Bally’s plan to advance to the state legislature. While the Council initially refused to vote on it, New York City Mayor Eric Adams helped the bid move forward with a last-minute home-rule message.

After the vote, Marmorato said that the developers “came to the table a little too late, with promises too vague and a process too flawed to rebuild the trust that was already lost in our community.”

She added: “This is not real economic development. This is not housing, a hospital or community improvements. It’s a casino.”

Bally’s CEO Soo Kim called the vote “incredibly disappointing,” noting:

“We had met the council member’s ask in terms of what exceptional community benefits they wanted. That ask was moving the goalposts from the prior ask, which we had met as well,” he said. “It’s sort of nutty. What more can we do than meet the ask?”

Without zoning approval, Bally’s cannot advance in the licensing process, which includes multiple hearings by Community Advisory Committees and review by the Gaming Facility Location Board.

Metropolitan Park Bid Faces Unusual Hurdle

While Bally’s appears to be out of the running, another major contender, the $8 billion Metropolitan Park proposal in Queens, backed by Mets owner Steve Cohen and Hard Rock International, could face unexpected turbulence.

On the same day as Bally’s rezoning defeat, Hard Rock announced that it had suspended Senior Vice President Alex Pariente and two other employees amid anti-money-laundering (AML) allegations.

First reported by Casino.org, Pariente allegedly was involved in significant money structuring practices and facilitating questionable gambling activities at Hard Rock’s property in Punta Cana, Dominican Republic.

In one instance, one employee, at Pariente’s direction, took a $100,000 deposit from a Chinese national. She then broke it into 33 separate $3,000 deposits. These actions violated AML regulations.

Hard Rock became aware of the allegations by whistleblower Robert “R.J.” Cipriani, also known as RobinHood702 in gambling circles. Cipriani is a high-stakes gambler and federal informant with a history of exposing compliance failures.

The whistleblower previously flagged similar misconduct at MGM properties, involving then-president Scott Sibella, and later at Resorts World Las Vegas. Sibella’s AML misconduct had cost his career and substantial fines for both operators.

Although Metropolitan Park’s application is considered a strong contender due to Cohen’s political ties, Pariente’s suspension could pose a reputational challenge to the bid.

Regulators will likely scrutinize Pariente’s actions and AML allegations when vetting the license applicants. As part of the licensing process, the New York State Gaming Commission conducts thorough background checks on corporate executives.

Also, while Hard Rock has acted swiftly, rival bidders could seize on the controversy to question the bid’s suitability.

The post Bally’s Bronx Casino Bid Collapses; Hard Rock Faces Scrutiny in Queens appeared first on CasinoBeats.

Evolution is now live with its online slots on Bally’s platform in Rhode Island, featuring titles from NetEnt, Red Tiger, and Big Time Gaming. This provides Bally Casino players with access to games already available in other regulated markets.

The deal also sees the company running live dealer Blackjack tables in New Jersey and Pennsylvania.

Evolution now has a live presence in all seven U.S. states where online casino games are currently legal: Rhode Island, New Jersey, Pennsylvania, Michigan, West Virginia, Delaware, and Connecticut.

In a press release, Jacob Claesson, CEO of Evolution North America, commented: “This agreement represents a significant step forward for both Evolution and Bally’s Corporation. 

“We’re thrilled to deepen our collaboration with Bally’s by delivering world-class gaming experiences and extend our reach into Rhode Island, a first for Evolution. This partnership showcases our shared commitment to driving innovation and providing exceptional entertainment for players.”

Evolution Joins Bally’s Exclusive Deal In Rhode Island 

Rhode Island granted Bally’s exclusive rights to operate iGaming in June 2023. Bally Casino initially partnered with Stakelogic to run its live casino games, which was seen as a cost-effective option. The deal with Bally’s marked Stakelogic’s first venture into the US casino space.

Bally Casino is limited to games that already exist in the state’s casinos, which include slots and live dealer table games. 

If the state wanted to introduce new games, a referendum would be required under its gambling laws.

Evolution has extensive experience in online casinos across global markets. A partnership with EveryMatrix, signed earlier this year, expanded the company’s presence in the US market. 

What Games Will the Deal Bring to Rhode Island?

While the new partnership won’t include Evolution’s live dealer games, the company’s slot subsidiaries, NetEnt, Red Tiger, and Big Time Gaming, produce some of the most popular slots across US online casinos. 

NetEnt produces two of the most frequented progressive jackpot slots, Divine Fortune and Mercy of the Gods. Another player favorite by the company is the Starburst slot. Other player favorites include: 

• Bloodsuckers
• Dead or Alive
• Fruit Shop
• Gonzo’s Quest
• Jungle Spirit
• Mega Fortune

Big Time Gaming is the creator of the super popular Megaways mechanic. The company does not produce all Megaways slots; instead, it licenses the name and mechanics to other studios, including other Evolution subsidiaries. 

While arguably not as famous as NetEnt, Red Tiger also creates many popular slots. Some examples include the 777 Strike, Astronaut, Cash Volt, Egypt Megaways, and Alexander the Great.

Red Tiger also supplies daily timed jackpots in some states, such as New Jersey, which could eventually be introduced to Rhode Island as well. 

While unconfirmed, other titles that could eventually come to Rhode Island include the edgy and urban-style slots by NoLimitCity. Additionally, Evolution has recently signed a deal with Hasbro for Monopoly-themed slots, which are set to release sometime next year. 

Evolution’s Content is Now Available in All iGaming States

The partnership with Bally’s in Rhode Island marks a significant milestone for Evolution in the US. The company’s content is now available in all seven US iGaming states: Connecticut, Delaware, Michigan, New Jersey, Pennsylvania, Rhode Island, and West Virginia. 

That means that Evolution’s content is available at over 50 online casino platforms across these states. 

With that, Evolution joins a small list of content providers that have achieved this milestone. IGT, which recently went through a significant restructuring, was the first. 

In March 2024, White Hat Gaming entered the state of Delaware, marking its seventh state. Notably, the company, which is significantly smaller than Evolution and IGT, has expanded rapidly in a relatively short time, having debuted in the US in 2022. 

Another content provider that has expanded to all seven states is Light and Wonder. 

Can Evolution Help the Underperforming Bally’s Casino in RI?

The addition of Evolution’s subsidiaries to Bally Casino’s game portfolio could give it a significant boost. The platform, the sole iGaming operator in the state, has struggled to meet initial revenue forecasts despite recent growth. 

Bally Casino generated $4.8 million in revenue in May, an impressive 113% year-over-year increase. Slots accounted for $3.7 million, a 129% yearly increase. 

While May was the second-highest revenue month (after March’s $5.1 million), Bally Casino has yet to catch up to initial forecasts. 

Before its March 2024 launch, Christiansen Capital Advisors (commissioned by the Rhode Island Department of Revenue) projected that the platform would generate $58.9 million in net revenue for 2024. However, Bally Casino generated under $22 million, less than half of the initial estimates. 

For the trailing year (July 24 – May 25), the platform generated $40.1 million. By comparison, Delaware’s single operator system has generated $77.5 million in the same period. 

Meanwhile, West Virginia, with a population less than twice that of Rhode Island’s, but with 10 platforms, saw $34.6 million in revenue for May alone.

The decision to limit online gambling to one single operator was the subject of debate among lawmakers in Rhode Island recently. 

IGT holds exclusivity in sports betting and has formed a partnership with Bally’s to supply and operate slots for the state’s casinos. 

A bill proposing to expand the gaming options received support in the Senate, which passed it with a 30-3 vote. However, it died in the House at the end of the legislative session in June. 

House Speaker Joe Shekarchi indicated that he was not interested in discussing the matter this year. Lawmakers are likely to revisit the topic in 2026 when the sports betting exclusive deal is up for review. 

The post Evolution Partners With Bally’s To Enter Rhode Island Online Casinos appeared first on CasinoBeats.

Intralot provides lottery, betting, and gaming solutions, including technology and facility management services for 12 state lotteries in the US. Through the deal, Intralot will expand its presence in the UK online gaming market. It will also enhance its technology offerings by incorporating Bally’s digital platforms.

Meanwhile, Bally’s will receive a substantial cash injection to support its ongoing projects and alleviate concerns about debt among analysts.

The deal also represents a profit for Bally’s. The company initially acquired Gamesys (now its International Interactive division) for $2.7 billion in 2021. Investors have long called for Bally’s to offload Gamesys to unlock value and focus on US expansion.

The transaction is expected to close in Q4 2025, pending regulatory and shareholder approvals.

Bally’s to Become Majority Shareholder in Intralot

The cash-and-shares transaction will include a €1.530 billion cash consideration ($1.8 billion). It will also include €1.136 billion ($1.34 billion) in new Intralot shares (approximately 873.7 million shares at implied value of €1.30 each).

To secure the deal, Intralot has secured commitments of up to €1.6 billion ($1.88 billion) from Citizens Bank, Deutsche Bank, Goldman Sachs, and Jefferies.

Additionally, the company plans to raise up to €400 million ($471 million) in equity through a public offering on the Athens Stock Exchange.

After the transaction’s completion, Bally’s and its affiliates’ ownership in Intralot will increase from 26.86% to 33.34%. That will shift Bally’s from Intralot’s largest shareholder to its majority shareholder.

The transaction will also bring significant leadership changes at Intralot. Robeson Reeves, the current CEO of Bally’s, will also become the CEO of Intralot. Nikolaos Nikolakopoulos, the current CEO of Intralot, will transition to President and CEO of the Lottery division.

Additionally, Chrysostomos Sfatos, Intralot’s current Deputy CEO and board member, will serve as Intralot’s CFO.

Moreover, the Intralot Board of Directors will expand to 11 members. The majority will be independent, with the addition of Sokratis Kokkalis (Intralot Founder and Chair), Soohyung Kim (Bally’s Chair and Deputy Chair of Intralot), Reeves, and Nikolakopoulos.

The combined entity projects to generate approximately €1.1 billion in revenue, with a pre-synergy EBITDA margin of around 38%, and over 90% free cash flow conversion. Intralot targets approximately 2.5x net leverage and a dividend payout of about 35% of net income, with upside flexibility.

Deal Will Support Bally’s Finances and Expansion Plans

In connection with the transaction, Bally’s has secured commitments for a $500 million secured debt facility, which, together with the cash proceeds, will be used to repay secured debt. In addition, Bally’s has secured commitments for $100 million delayed draw secured debt facility, which will be used for general purposes, including the development of Bally’s Chicago.

The Chicago $1.7 billion flagship project, along with other ambitious plans by the company, has raised concerns among analysts regarding the company’s financial standing.

Bally’s Chicago is under construction, racing to meet Illinois’s mandatory September 2026 opening date. The project faced financial uncertainties for some time. Then, Gaming and Leisure Properties stepped in and committed $940 million to its construction, effectively saving it.

Bally’s is also part of a high-profile bidding war for one of three downstate New York casino licenses. The company’s $4 billion Bronx proposal is one of eight bids, with two existing racinos seen as frontrunners.

Furthermore, Bally’s has plans for a Las Vegas casino-resort at the former site of the Tropicana Las Vegas through a partnership with Gaming and Leisure Properties and the Oakland A’s, who are building a ballpark adjacent to the Bally’s property.

Despite these ambitious projects, Bally’s financial health has raised concerns among analysts. As of April, Bally’s carried around $3.4 billion in debt, while its market cap is around $500 million. The total debt-to-equity ratio has caused multiple downgrades to sub-investment-grade status.

Even after a 15% jump in the stock price after the Intralot announcement, Bally’s shares are down over 40% year-to-date. It’s also down 52% from its 52-week high.

Nevertheless, the over $2 billion Bally’s will use from the transaction cash proceeds and secured debt facility should provide critical financial flexibility. It will also strengthen Bally’s balance sheet as it pursues its aggressive expansion strategy.

The post Intralot Strikes $3.2 Billion Deal for Bally’s International Interactive, Bally’s Takes Majority Stake appeared first on CasinoBeats.

While Bally’s President George Papanier did not offer details, A’s owner John Fisher expressed hope that Bally’s casino-resort plans will become clearer soon.

The 33,000-seat ballpark is part of a partnership that was established in May 2023 between Bally’s, Gaming and Leisure Properties (land owner of the site), and the A’s. The ballpark will occupy nine of the 35 acres.

Meanwhile, Bally’s plans to build a casino-resort on 15 acres, with the remaining area allocated for infrastructure.

Bally’s released plans last October, following the implosion of the Tropicana. However, as the operator has been involved in several projects, it has not provided further details since.

Fisher hopes that the resort’s initial construction phase will align with the A’s stadium’s timeline,

“I think those conversations need to sort of happen with them. What they’ve shown us is exciting.”

MGM Resorts International CEO Bill Hornbuckle, whose properties will likely support much of the stadium’s parking, stressed that Bally’s still needs to “zero in on a real plan” and make it clearer what’s going to be built.

Does Bally’s Have The Financing For Las Vegas Casino?

While the A’s owner dismissed concerns regarding Bally’s plans, the project faces uncertainty, primarily due to financial worries.

As of April, it carried around $3.4 billion in debt while its market cap is around $500 million. The total debt-to-equity ratio has led to multiple downgrades to sub-investment-grade status.

Recently, Fitch Ratings downgraded Bally’s to a B- with a “Negative” outlook. Other similar downgrades include from Moody’s (B2) and S&P Global (B-).

The agencies cite reasons for the downgrade, including “high leverage” and “execution risks” associated with the Vegas property and Bally’s $1.7 billion Chicago project.

Bally’s still needs to raise $1.1 billion to fund the Tropicana site. Gaming & Leisure Properties has earmarked $175 million for demolition, of which about $125 million remains. Additionally, the Tropicana site landlord has committed $940 million to the construction of the Bally’s Chicago project.

Uncertainties surrounding other projects also contribute to analysts’ concerns. That includes Bally’s bid for a New York casino, which would cost billions and new debt covenants in Rhode Island.

Compounding concerns is the fact that Bally’s would be entering an already saturated Las Vegas market, which has over 150,000 existing hotel rooms.

According to the Las Vegas Convention and Visitors Authority, total visitors are down 6.5% year-to-date through May, compared to the same period in 2024. At the same time, occupancy is down 2.5%.

Additionally, gaming revenue remains flat, primarily due to the strong performance in January.

Given these challenges, questions remain whether Bally’s can realistically finance and build the Las Vegas property. Some analysts have called for the company to enter a joint venture or sell the property.

Chicago, New York Casino Plans Keeping Bally’s Busy

Despite the financial headwinds, Bally’s continues to pursue an aggressive multi-front expansion strategy.

The company’s flagship $1.7 billion Chicago project is under pressure to meet its September 2026 state-mandated opening. Recently, construction was shut down for nearly a month after the Chicago Sun-Times revealed that a waste-hauling subcontractor with reputed mob ties was working on the site.

Bally’s is also in the running for a coveted New York casino license. The company is one of eight candidates for three licenses. It recently cleared a major state hurdle in the licensing process, with applications due on June 27.

Bally’s will likely know by the end of the year whether it will receive one of the licenses. If it does, it will need to pay $500 million for the license, invest at least $500 million, and pay $115 million to the Trump Organization as part of the purchase agreement for the Ferry Point site in the Bronx.

The company has also made international headlines. In April, Bally’s agreed to pay $180 million for a 57% stake in Australia’s Star Entertainment Group.

However, not all of Bally’s ambitions have come to fruition. Bally’s has abandoned some regional projects in the past few years, including those in Richmond, Virginia, and State Park, Pennsylvania, due to local resistance and financial uncertainty.

The scale of Bally’s expansion plans has drawn sharp criticism. Industry analysts have labeled it overambitious and financially risky.

The post A’s Break Ground on Las Vegas Ballpark, But Bally’s Casino Plans Clouded appeared first on CasinoBeats.

New York Gov. Kathy Hochul signed off after the state Legislature approved a measure that repurposes the property from parkland to a commercial use. That marked a critical step in the license process, with the application deadline approaching on June 27.

Bally’s chairman, Soo Kim, expressed his delight: “We are very thankful that we will have the opportunity to continue to engage Bronx community, elected, and small business leaders to talk about our vision for the largest economic development project in the history of the Bronx.”

The Bally’s casino project is one of eight hopefuls for three downstate New York casino licenses. The process, which has been ongoing for several years, is nearing a critical point. The application deadline is June 27. A decision is expected by the end of the year.

Mayor Adams’ Last-Minute Intervention

The New York Legislature approved the repurposing of the site on June 13, just two days after the New York City Council voted in favor.

The June 11 meeting was the second time the Council reviewed Bally’s application. Initially, it declined to bring the measure to a floor vote, with some council members stating that Bally’s lacked the necessary support.

However, moments before that second vote, New York Mayor Eric Adams intervened to keep the Bally’s license hopes alive. In the eleventh hour, the mayor issued a home-rule message in support of the Bally’s casino proposal.

That message lowered the threshold needed for it to pass from a two-thirds supermajority (34 votes) to a simple majority (26 votes). The Council ultimately passed the measure with a 32-12 vote, with seven abstentions.

Critics raised concerns about the optics of the mayor’s support. Some suggest that it will benefit President Trump. That’s because the Trump Organization stands to receive $115 million if Bally’s secures a license as part of the deal for the site.

Earlier this year, the Department of Justice dropped the criminal charges against Adams that the Biden administration had brought.

The New York mayor has declined to speak negatively about President Trump, and the two have met on a few occasions since the 2022 elections.

What Bally’s Still Needs

The governor’s signature means Bally’s can submit paperwork for the casino license. However, the application will not be complete without several local and environmental reviews.

Bally’s still needs the Council to approve other zoning changes as part of the rezoning Uniform Land Use Review Procedure (ULURP). The ULURP process involves several steps:

• Community Board review – Completed in March. Bronx Community Board 10 voted 29–5 against the proposal, but the step is only advisory.
• Bronx Borough President review – Expected this summer.
• Borough Board opinion – Follows shortly after the Borough President.
• City Planning Commission vote – Expected by late summer or early fall.
• City Council vote – Could happen as early as September.

In addition to ULURP, Bally’s must complete an environmental assessment under the State Environmental Quality Review Act. That must be done mainly by the end of June to stay on track.

Furthermore, the application must receive approval from a six-member Community Advisory Committee. Bally’s must obtain approval from at least four members.

The post Bally’s Clears Hurdle in Bid for Bronx, New York Casino at Former Trump Golf Course appeared first on CasinoBeats.

On June 11, the New York City Council voted again on whether to advance the company’s casino proposal to the state legislature. Previously, the Council opted not to bring the measure to the floor for a vote. At the time, some council members stated that Bally’s lacked the necessary support to proceed.

For the project to move forward in Albany for consideration, the Council must approve a “home rule” message that would enable the state legislature to rezone the parkland for commercial use.

Mayor Adams’ Support Tipped the Scale

In a last-minute vote, Mayor Adams issued a home-rule message in support of the Bally’s casino proposal. That message lowered the threshold needed for it to pass from a two-thirds supermajority (34 votes) to a simple majority (26 votes).

The Mayor does not sit on any Community Advisory Committees, such as the one that previously approved the Bally’s project. However, his role is influential as he can appoint board members, deliver a home-rule message, and influence the public narrative.

With Adams’ support, the City Council approved the proposal with a 32-12 vote, with seven abstentions. All Democrat Bronx councilmembers, except one who was absent, voted in favor of the Bally’s casino.

However, Councilwoman Kristy Marmarato, a Republican, whose district includes the potential casino site, voted against it.

She commented: “Voting in favor of this sets the precedent that we reward lobbyists and special interest groups when they go around the local representation in local communities. It absolutely will pave the way for a casino to be built.”

Benefiting Trump or a Fair Process?

Adams’ office says his support aims to ensure a fair and competitive casino selection process. A spokesperson for the Mayor said it does not matter which casino bids win one of the three coveted licenses. The important thing is for New York City to secure at least one of them.

Critics, however, argue the vote directly benefits Trump.

Bally’s purchased the golf course at Ferry Point, where the casino would be, from the Trump Organization in 2023. As part of the deal, Bally’s will pay the Trump Organization $115 million if it wins a license.

Adams’s show of support for the project has sparked speculation about whether the move was intended to benefit Trump, given their recent history.

Earlier this year, the Department of Justice dropped the criminal charges brought against Adams by the Biden administration. Those charges included wire fraud and bribery.

The Mayor has met with the president on a few occasions since the 2022 elections. Adams has repeatedly declined to criticize or speak negatively about Trump.

Adams’ spokesperson, however, denies that the Mayor’s support of the Bally’s casino project has any connection to Trump.

City Council Also Reviewed Coney Island Casino Proposal

While Bally’s bid moves forward, the City Council reviewed another casino application. On June 12, the Council’s Land Use & Zoning Subcommittee held a hearing regarding “The Coney”, a casino proposal in Coney Island.

The project is looking to “de-map” parts of Bowery Street (essentially close a portion of it). It also aims to acquire air rights to construct pedestrian bridges between buildings.

Both supporters and opponents testified in the meeting. Supporters highlighted the creation of 4,000 permanent jobs and 4,500 construction jobs. Additionally, the project will generate $200 million in community trust for local area improvements.

Opponents, including the Central Amusement (Luna Park) and the Coney Island History Project, warned that the casino would damage the historic amusement district.

The subcommittee did not vote on the project. It will continue to deliberate, and if it approves the zoning changes, the Coney will need Council approval before moving to the state.

The post NYC Mayor’s Support Helps Bally’s Casino Project Clear City Council Vote appeared first on CasinoBeats.

12%

Bally’s Corporation’s Q3 figures were headlined by UK growth as online revenues in the nation rose by almost 12% across the quarter, compared to Q3 2023 comparatives. 

However, overall International Interactive revenue fell by over 5% YoY due to non-UK market performances.

Bally’s declared company-wide revenue of $630m, down slightly YoY (Q3 2023: $632.5m). Per vertical, gaming revenue in Q3 rose to $523.9m (2023: $508.9m) while non-gaming revenue decreased to $106.1m (2023: $123.6m).

International Interactive revenue dropped by 5.3% YoY to $230.9m (2023: $243.9m), as CEO Robeson Reeves mentioned that the 11.8% YoY growth in the UK was offset “in part by lingering weakness in other non-UK markets, with a particular emphasis on the ongoing logistical challenges impacting business in Asia”.

Reeves noted that UK growth was “driven by all-time high active customer levels and robust Average Revenue per User metrics along with growing traction for our online sports betting offerings which include a newly launched Bally’s-branded product that joins our initial Jackpotjoy offering”.

Adjusted EBITDAR for the segment rose to $90m, up 5.3% in comparison to the same period the previous year (2023: $85.5m). 

Reeves said: “Flow-through in our International Interactive segment remains very healthy as a result of diligent UK marketing spend, management of compensation expenses along with the continued realisation of synergies from our technology platform consolidation.”

33%

Catena Media suffered a revenue dip for the third quarter, decreasing by 33% to €10.7m, whilst revenue from North America dropped by 29% to €19.5m.

As well as this, there was also a slight dip in new depositing customers from continuing operations which totalled 27,342 (Q3 2023: 40,104), a decrease of 32%.

CEO Manuel Stan commented on the firm’s performance: “From a top-line perspective, Q3 was a challenging quarter in which we saw revenue decline by 33%, driven by continued underperformance in online sports betting. Lower revenue also reflected the ending of certain media partnerships and changes made to other partner agreements.

“The flipside was that these cost-side measures lifted the adjusted EBITDA margin from 1%in July to 18% in September and double adjusted EBITDA quarter-over-quarter. Alongside this bottom-line improvement, we also saw a like-for-like increase in North American Casino revenue and incremental gains in our key organic search rankings, despite higher-than-usual volatility due to Google’s core updates.”

Stan also went on to provide a positive outlook for the firm’s North American casino operations as he revealed that the drop in revenue from €8.6m to €7.6m was ‘primarily a reflection of casino revenue related to prior quarters. 

He continued by stating that ‘excluding this, casino revenue rose slightly during the period, maintaining the year-over-year trend observed in Q2’.

20%

The Betting and Gaming Council has published its first Code Handbook, which includes an aim to make at least 20% of slot machine top screen imagery dedicated to safer gambling messaging.

The measures, which have already been implemented across the sector, include a trio of codes that have become part of License Conditions and Codes of Practice (LCCP) for members.

At the heart of the casino sector’s new guidance is ensuring that safer gambling messaging and increased information is prevalent within the land-based casino environment. 

Amongst other strategies one aims to ensure that slot machine safer gambling messaging is boosted – ‘outside of game play, at least 20% of slot machine top screen imagery to be dedicated to safer gambling messaging, where game and machine functionality permits’. 

As well as this, one strategy bids for safer gambling messaging to appear on slot machine receipts (referred to as TITO), promoting safer gambling and advice on staying in control, including the National Helpline phone number. 

These measures will apply across the diverse membership of the BGC, including land-based operators like casinos, which are a pillar of the hospitality and tourism sector, bookmakers on hard-pressed high streets and online gaming operators.

Betting and Gaming Council CEO Grainne Hurst, commented: “I am delighted to announce this new Code Handbook, which comprises over five years of determined work to raise standards, across the board.

“It is also entirely fitting that we publish this landmark new Code Handbook on our fifth anniversary. The BGC was founded as the industry’s standards body, and this Handbook draws together our sector’s combined efforts, under the leadership of the BGC, to raise standards on safer gambling in the UK.”

€402.9m

Super Group reported a 13% YoY revenue increase to €402.9m (Q3 2023: €356.9m), its highest revenue recorded ever in the third quarter. In constant currency, revenue rose by 15% to €410.9m.

The operator group noted that the revenue growth was “driven by growth from the Africa, Europe and North America (predominantly Canada) markets partially offset by declines from the Middle East and Asia-Pacific markets”.

Per product, online casino revenue for the company stood at €330.2m at the end of Q3 (2023: €277.1m), sports betting was €67.1m (2023: €64.6m), brand licensing was €3.7m (2023: €8.3m) and other revenue was €1.9m (2023: €6.9m).

Betway revenue stood at €239.4m (2023: €206.4m) while Spin revenue was €163.5m (2023: €150.5m). Monthly active customers during the quarter increased by 17% YoY to 4.7 million (2023: four million).

Revenue per region segment, Africa and Middle East stood at €151.2m (2023: €100.1m), followed by North America with €144.8m (2023: €134.1m), Europe with €67.4m (2023: €54m), Asia-Pacific with €33.7m (2023: €62m) and South/Latin America with €5.8m (2023: €6.7m).

“We achieved our strongest third quarter ever, highlighting the phenomenal progress we are making as a business,” commented Menashe.

“There is still tremendous potential as we experience super growth across our global casino brands, and particularly in Africa which we have scaled to be our largest region for the second quarter running.”

The post Bally’s, BGC, Catena Media and Super Group: the week in numbers appeared first on CasinoBeats.

According to an SEC filing on the company’s website, filed on 31 October, Bally’s has entered into an agreement to sell its interactive business in Asia and certain other international markets to a company formed by members of the carved-out business management. The identities of the members of the buying company were not revealed.

Under the terms of the transaction, the ownership of certain intellectual property will be placed in trust and licensed to the buyer for five years, while Bally’s will also provide certain transaction services to the buying company.

Once the transaction is completed, Bally’s will focus its capital and resource allocation on its North American and European business. It will not be involved in the management, operations, or governance of the carved-out business.

The SEC filing states: “On October 31, 2024, Bally’s Corporation (“Bally’s” or the “Company”) entered into an agreement to sell its interactive business in Asia and certain other international markets (the “Carved-Out Business”) to a company (the “Buyer”) formed by members of the management of the Carved-Out Business.

“Ownership of certain intellectual property has been placed in trust and will be licensed to the Buyer for a term of five years (subject to extension). The Company will also provide the Buyer with certain transition services. The Buyer is acquiring the Carved-Out Business in exchange for a note. Bally’s will have no role in the management, operations, or governance of the Carved-Out Business.

“The transaction is intended to allow Bally’s to focus its capital and resource allocation on North American and European business, and this Carved Out Business will benefit from focused management attention and aligned ownership.”

Bally’s also mentioned how it expects the Asia interactive business transaction to affect the financial performance of the overall company going forward.

The company noted that adjusted EBITDA and free cash flow will likely see a “modest decline” due to cost actions related to simplifying its organisational structure and other cost reductions.

“The financial impact of the transaction is not expected to be material to adjusted EBITDA or free cash flow of the Company,” the SEC filing continued.

“Going forward, the financial statements of the Company will only reflect licensing and royalty revenues received from the Buyer, which are expected to be lower than revenues under the current accounting treatment, but the profitability margins associated with those licensing revenues are expected to be higher as is customary in the gaming industry for IP licence business models. 

“The expected modest decline in adjusted EBITDA and free cash flow resulting from the transaction are expected to be mitigated by cost actions to simplify Bally’s organisational structure and other cost reductions.”

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$1.66bn

Wynn Resorts outlined its financial forecasts for its upcoming Wynn Al Marjan Island resort in Ras Al Khaimah (RAK), where it projects gross gaming revenue of up to $1.66bn.

The figures followed recent reports that Wynn has been awarded the first commercial gaming facility licence from the UAE’s regulator that formed last year, the General Commercial Gaming Regulatory Authority (GCGRA). 

The Las Vegas-based casino operator also shared expectations for its operating revenue and adjusted property EBITDA at an analyst and investor update meeting this week about the resort based in the United Arab Emirates (UAE).

CEO Craig Billings and other members of the Wynn Resorts global leadership team were in attendance at the invitation-only event to deliver presentations.

Wynn Resorts has been developing and constructing a resort at Wynn Al Marjan Island in RAK over the past year as part of a joint venture between affiliates of Wynn Resorts, Marjan and RAK Hospitality Holding.

At the meeting, the operator revealed that it expects Wynn Al Marjan Island to generate “strong gaming and non-gaming revenue”.

This is based on assumptions that the UAE market size is approximately $3bn to $5bn, in addition to two competitive integrated resorts operating in the country with Wynn GGR market share at 33% and a “Wynn Premium” of 1.2x GGR fair share based on 11K positions in the market.

€2.3bn

Playtech has been accused of “the most egregious case of shareholder value expropriation in the history of UK public markets” regarding the bonuses senior executives will receive following the €2.3bn sale of Snaitech to Flutter Entertainment.

Last month, Playtech agreed to the sale with the igaming provider stating that it will be focusing on its “technology-led offering in high-growth B2B gambling markets with an accelerated growth plan and an extensive portfolio of strategic ventures”.

The company described the transaction as unlocking “significant capital” and in line with the board’s stated strategy to maximise value for shareholders, as once practicable to do so following the transaction’s completion, it intends to return €1.7bn to €1.8bn to shareholders, with the final amount to be determined with reference to the ongoing business’ capital needs.

However, this return to shareholders has been criticised, as it features bonus awards for a maximum aggregate amount of €100m to be paid to members of Playtech’s senior team including CEO Mor Weizer and the company’s executive directors.

A separate aggregate cash bonus pool of €34m will also be paid to the senior management team of Snaitech, of which CEO Fabio Schiavolin will be the largest participant.

In an open letter to Playtech’s Remuneration Committee Chair Anna Massion, one of the company’s shareholders, Jeremy Raper of Raper Capital, protested against the transaction, calling it “the most egregious case of shareholder value expropriation in the history of UK public markets”.

Raper added that the transaction exemplifies “crony capitalism at its absolute worst”, highlighting how several components of the company’s plan directly violate many aspects of the Governance Code, as well as notifying that he has forwarded the letter to the Financial Conduct Authority as a formal complaint.

100%

Autorité Nationale des Jeux, France’s gaming authority, launched a new information campaign about online casinos – “100% winner?” – to remind the French public about the dangers of illegal online gambling websites.

The campaign is part of the ANJ’s 2024-2026 strategic plan to tackle several objectives in the country’s gambling market, which includes combating illegal gambling.

It also follows a 2023 study conducted by the PWC for the ANJ on illegal gambling in France, which noted that between three to four million people have gambled on illegal sites, with online casinos being the most popular.

Beginning in October, the “100% winner?” information campaign aims to raise awareness amongst the French public about online casinos being illegal in the country, as only online poker, online sports betting and online horse racing are regulated.

The campaign will also provide education on the dangers of illegal websites in order to help reduce risky behaviours and problem gambling.

22

Bally’s Corporation demolished Tropicana Las Vegas as part of a farewell display which included fireworks and a drone show, before concluding with a 22-second implosion of the resort.

Tropicana’s two 22-story towers were imploded to make way for the construction of a baseball ballpark and entertainment resort, part of a partnership that has been in place since May 2023 between Bally’s, Gaming and Leisure Properties and the MLB’s Oakland Athletics, who will be moving into the stadium.

Several figures connected to the Athletics and Bally’s were in attendance at the event, honouring Tropicana’s history and looking forward to its future. 

This included Bally’s Chairman Soo Kim, Athletics owner John Fisher, Tropicana General Manager Arik Knowles, Las Vegas Convention and Visitors Authority President Steve Hill and Clark County Commissioner Jim Gibson. 

“Bally’s is honoured to have been part of this historic moment, bidding farewell to the iconic Tropicana,” said Kim. 

“As we celebrate its legacy, we look ahead to building a world-class entertainment resort, the future home of the Athletics, and cementing Las Vegas as the ultimate sports and entertainment capital.”

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The relationship between Tribal Gaming and the commercial casino sector was at the forefront of discussions during the SBC Summit in Lisbon, as a decorated panel gathered in a bid to gain a deeper understanding of the tribal gaming sector. 

Jamie Hummingbird, Chairman, NTGCR emphasised that each tribe requires a very different approach and being meticulous and gaining an understanding is imperative. 

He detailed that each tribe holds different cultures, motives and levels of sophistication,  therefore doing research should be at the heart of the approach for commercial operators looking to collaborate with tribes. 

According to Hummingbird, ‘tribes are protective of their people and sovereignty’ and operators should take note that a licence in one area doesn’t cement an operator’s ability to get a licence in a different jurisdiction. 

In its most recent set of figures, the prosperity and potential of the tribal gaming sector was highlighted as the National Indian Gaming Commission reported record annual gross gaming revenue numbers for tribal gaming, declaring $41.9bn for the fiscal year 2023.

Anika Howard, President & CEO of WONDR NATION, also echoed that if commercial operators are to tap into this, understanding tribal sovereignty is crucial. 

She revealed such is the importance of sovereignty, commercial operators should understand that tribal disputes will likely be settled in tribal court. 

She added that the values of tribal businesses are tied to that of the community, with overall goals for the long term prosperity for the community 

When looking to collaborate with tribes, Howard also underpinned that it is crucial that commercial operators develop an understanding of the limitations of each tribe. 

The panel was keen to outline that central to a successful partnership with a tribal business isn’t to bombard them with information and new tech, but instead to understand the bigger picture on what the brand is trying to achieve and embark on an educational journey together. 

Jason Rosenberg, CEO and Founder of American iGaming Solutions, reiterated that before commercial operators engage with tribes, they simply need to listen. 

He added that the tentativeness from tribes stems from their historic treatment by federal governments and states. 

Brett Calapp, Chief Operating Officer, NAI, Bally’s, who moderated also cited the importance of the history of tribes in order to develop the best relationship with them and their motivation in the modern gaming space. 

As partnerships are formed he added that ‘education is so important with even the most sophisticated retail casinos, sometimes enduring a challenging transition when it comes to moving to online’. 

Nonetheless, he lauded the customer service of tribal gaming, with it being an asset that sets them apart. 

When questioned by the audience, Calapp also issued a warning over the rise of the sweepstake casino sector: “There’s a lot of money in sweepstakes and that doesn’t always attract the best actors, whilst they are legal there are nuances out there in the regulation that need t be abided by,” he said. 

The panel also took a closer look at the state of play for class 2 games and why they are being embraced by tribes too strongly. 

Hummingbird stated: “People are still in the dark about what class 2 games are, with class 2 games having at least 2 people playing, not necessarily in the same room. This has led to Tribal gaming leading the way when it comes to server based gaming.” 

Meanwhile Rosenberg added that ‘Class 2 games are a driving force in the direction tribes are moving’. 

Howard provided a deeper insight into this as she revealed that Class 2 games largely enables Tribes to avoid taxes as they don’t pay taxes on bingo based games, however the sophistication of class 2 games has limited their growth to a degree.

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