Mark Frissora's tenure as CEO of Caesars Entertainment is officially underway. Frissora replaces Gary Loveman, who is still the company's chairman and will monitor the company's current bankruptcy restructuring. Frissora said he plans to identify "new opportunities to drive growth and efficiency, which will ultimately create shareholder value."
Video footage of a person allegedly accessing Georgia's state lottery from Virginia, which anti-online gambling lobbyists are using as proof that online gambling shouldn't be legalized, is really evidence of the need for regulation, Michelle Minton writes. Firms such as GeoComply provide services for states with legalized online gaming that include geolocation that can narrow device locations to a city block and detect fraudulent use via VPNs. "If lawmakers truly desire to protect consumers and uphold the constitutionally protected state powers, they should let states decide for themselves if and how to regulate the activity," Minton writes.
Macau's casino operators are spending a higher proportion of revenues to attract gamblers, according to Deutsche Bank. Three of the six casino operators in the city combined to spend $206 million on promotion in the first three months of the year, the investment bank said. Although that figure is less than the $220 million spent in last year's first quarter, this year's spending accounts for 10.2% of gaming revenue, compared to last year's 8.8%.
A $1 billion downtown Atlanta gambling complex proposed by MGM Resorts would bring 3,500 jobs to the area, according to state Rep. Ron Stephens. "It's massive in its size and its elegance," said Stephens of the proposed casino. "This is a game-changer. I'm looking for a win-win-win, and this is it."
Pechanga Resort & Casino, winner of a nationwide poll conducted by 10Best.com, has been named America's favorite casino by USA Today. "We are ecstatic about being voted No. 1," said Lee Torres, Pechanga's vice president of marketing. "Being the nation's favorite casino is an incredible honor, and it's a testament to the perseverance of the Pechanga tribe." Mohegan Sun came in second in the voting, while Foxwoods Resort Casino took third place.
Players who say they were unfairly treated as advantage players are suing tribal casinos in Connecticut and Arizona. Three Chinese gamblers say Connecticut's Foxwoods Casino wrongly took $2.7 million in front money and winnings after they used a card-monitoring strategy known as edge-sorting, which they say is legal. The lawsuit was dismissed due to the casino owner's tribal immunity, with an appeal pending. Meanwhile, Arizona advantage players filed a suit that was not dismissed by a federal judge because the case named tribal officials individually.
Boyd Gaming has announced the addition of a hotel tower and other features to the Delta Downs Racetrack Casino in Vinton, La. The project is expected to cost $45 million, and construction on the expansion is expected to start in September.
Restrictions on tourists visiting Macau have been relaxed as part of an effort to revive casino income. Travelers with Chinese passports now will be allowed to stay in Macau for seven days rather than five, while gamblers can now visit twice every 30 days rather than every 60 days. UBS Securities analyst Anthony Wong believes the eased restrictions "might also suggest that current demand has reached a level the government feels a need to act to support it from falling further."
The World Series of Poker will hold its first-ever online bracelet event Thursday. Players from Nevada will pay $1,000 buy-ins to compete in the tournament. When the field is reduced to six players, the game will be suspended before resuming Saturday at Rio's Amazon Room.
Brockton, Mass., casino proposal supporters claim that its proximity to Boston would make it likely to draw more customers from there than a competing proposal based in New Bedford, Mass., would. Brockton and New Bedford are competing for the lone casino license in southeastern Massachusetts, with a decision from the Gaming Commission expected by early 2016.