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Golden Nugget Danville Hotel Possible, Sportsbook Prospects Murky

The Golden Nugget Danville Casino opened in May 2023 and by all accounts, the venue has been a success. So much so that the operator is mulling the addition of a hotel in the future, but the outlook for a retail sportsbook is more dim.

The Golden Nugget in Danville, Ill. Adding a hotel is possibility in the future, but the outlook for a sportsbook is dim. (Image: WCIA.com)

At an event earlier this week celebrating the venue’s first anniversary in the Illinois town, General Manager Jahnae Erpenbach reiterated that a hotel is still part of the long-term plans for the venue, but evaluating demand is critical when it comes to deciding when to make large-scale additions to the property, which is one of the newest casinos in the state.

We need to make sure we balance the demand in our ability to do that,” she said at the event.

The casino is a joint venture between the Wilmot family and Tilman Fertitta, whose Fertitta Entertainment Inc. (FEI) controls the Golden Nugget brand.

Strong Start for Golden Nugget Danville Without Hotel

Casinos and hotels are often joined at the hip, but there are dozens of examples of gaming venues across the US that don’t feature guestrooms. That’s often the result of market factors, including population and the ability of the surrounding region to attract conventions and tourists.

Even without a hotel, Golden Nugget Danville is off to a strong start. At the event earlier this week, President Jimmy Wilmot highlighted the venue’s contributions to city coffers. He said that since the casino opened, it’s paid Danville $2.8 billion in gaming taxes, $350,000 in property taxes, $402,000 in sales taxes and another $45,000 in food and beverage levies. Since its debut, the casino paid $5.6 million in taxes to the state of Illinois and has purchased $420,000 worth of products from Danville businesses.

Those are financial boons for Danville, which was banking on the gaming venue to lift it out of a public pension liability mess. Wilmot added that about half the visitors to Golden Nugget Danville since doors opened hailed from outside of Illinois.

That’s important because the property could face competitive pressure from Churchill Downs’ Terre Haute Casino Resort in Indiana, which is about an hour’s drive southeast of the Golden Nugget. Erpenbach acknowledged there was some impact to the Golden Nugget when Churchill opened the Indiana casino hotel in April, but that property won’t disrupt long-term plans in Danville.

Sportsbook Off Table Over Near-Term

Erpenbach added that the hope is Golden Nugget Danville will eventually have a retail sportsbook, but that appears unlikely over the near- to medium-term because DraftKings already has a land-based presence in Illinois and would be required to shell out another $10 million for a license to run a sportsbook at Golden Nugget Danville.

With the gaming company grappling with higher taxes in the state, that licensing fee isn’t economical, particularly when accounting for the fact that in Illinois, like the rest of the US, the bulk of sports wagers are placed online, not in person.

DraftKings and Golden Nugget have a relationship by way of the former’s 2022 acquisition of Golden Nugget Online Gaming (GNOG), which made Fertitta one of the largest shareholders in the online sportsbook operator.

 

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Play’n GO Continues Rapid Expansion in the US Market with Successful Game Launches

Playn-GO-Continues-Rapid-Expansion-in-the-US-MarketPlay’n GO’s footprint in the US has been steadily expanding, with the company experiencing strong growth and game success in key markets. From exclusive partnerships to the release of engaging new online slot titles, Play’n GO is making waves across the country’s iGaming landscape.

George Olekszy, Head of Game Retention at Play’n GO, recently shared insights into the company’s journey and its future plans in the US. At the upcoming G2E Las Vegas event, Play’n GO will be showcasing its games to industry professionals, offering a glimpse into what’s next for the company in the US market.

Looking ahead, Play’n GO is preparing to launch several new titles in the US, including Midnight Princess 100 and Oasis of Dead. Additionally, Rise of Olympus Origins is set to be released around Halloween, building on the success of its predecessor.

Piggy Blitz: A Breakout Success in 2024

One of Play’n GO’s most successful US launches to date has been Piggy Blitz, which was introduced as a BetMGM exclusive in late December 2023 before going live in other licensed states in January 2024.

The game quickly became a hit, achieving the number one spot among newly released games in New Jersey and the second spot across all new US releases within its first month. By February, Piggy Blitz had secured a spot in the top five games overall, speaking volumes about the quality and appeal of the studio’s content among players from the United States.

Colt Lightning Firestorm: Another Hit in the Making

Following the success of Piggy Blitz, Play’n GO has seen another title gaining momentum: Colt Lightning Firestorm. Launched as an exclusive with BetRivers in August 2024, the game has already delivered remarkable results, despite being available exclusively for half of its release period.

Olekszy shared his optimism about the game’s future, stating:

“It’s fair to say the performance has been pretty staggering, made all the more remarkable when you consider it was a single-operator exclusive for half of its US lifespan. We’ll have more firm facts and figures to share in the coming weeks, but it wouldn’t surprise me if Colt Lightning Firestorm became one of our best performing games in the US in the very near future.”

Play’n GO’s Grid Slots Make an Impact with Midnight Princess Power of Love

The Midnight Princess Power of Love release marks Play’n GO’s expansion of its popular Moon Princess series in the US.

Known for pioneering grid slots, Play’n GO has seen great success with titles like Reactoonz and Rise of Olympus 100 in the US market. The company is now seeing similar results with Midnight Princess Power of Love, as it quickly gains traction among players.

A Bright Future for Play’n GO in the US

Since entering the US market in 2022, Play’n GO has expanded its operations to five states-West Virginia, New Jersey, Pennsylvania, Michigan, and Connecticut, entering partnerships with major operators like Rush Street Interactive and BetMGM. With plans for continued growth, the company is positioning itself for long-term success.

As Olekszy pointed out:

“Our hope, like everyone else in the industry, is that more individual states will continue to open up over the coming months and years, and when they do, we’ll be ready. We have a publicly stated goal of being active in every regulated market in the world, and we plan to keep that promise.”

Source:

“Play’n GO – Taking the USA by Storm”, playngo.com, September 11, 2024

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Gaming Realms Reports Strong Interim Results for H1 2024, Driven by Content Licensing Growth

Gaming-Realms-Reports-18_-Revenue-Growth-and-Strong-H1-2024Gaming Realms plc, a leading developer and licensor of mobile-focused gaming content, has published its interim results for the six months ending June 30, 2024. The company reported significant growth in both revenue and profitability, driven largely by its successful content licensing business and key partnerships across North America and Europe.

The Board remains confident that Gaming Realms is well-positioned to capitalize on its growth trajectory and deliver further value to shareholders by continuing to expand into regulated markets and launching new content.

Financial Performance Highlights

For the first half of 2024, Gaming Realms achieved total revenue growth of 18%, reaching £13.6 million, compared to £11.5 million in the same period last year. This revenue increase was supported by strong growth in the content licensing segment, which saw a 28% rise to £11.2 million, making it the primary driver of the company’s growth.

By contrast, brand licensing revenues fell by 67%, contributing only £0.3 million due to the absence of major deals that had been completed during the same period in 2023.

Adjusted EBITDA also saw a robust increase of 21%, rising to £5.8 million and representing an adjusted EBITDA margin of 43%, up from 41% in the previous year. Excluding brand licensing, the company’s adjusted EBITDA grew by 46%, reflecting the operational leverage and efficiency within its core business.

Gaming Realms also reported a 51% increase in profit before tax, which reached £3.5 million, up from £2.4 million in H1 2023. The company’s net cash position increased by 28% to £9.6 million, underlining its strong cash generation capabilities.

Expanding Global Partnerships and Game Portfolio

During the first half of 2024, Gaming Realms launched with 22 new partners in key markets, including FanDuel in Pennsylvania and Connecticut, Fanatics in New Jersey and Michigan, and the Atlantic Lottery Corporation in Canada.

In Europe, new partnerships were formed with Solverde in Portugal, DAZN in the UK, and LiveScore in the Netherlands. These partnerships have solidified the company’s presence in regulated markets and supported its expansion goals.

Additionally, the company secured a full iGaming Supplier License in West Virginia, further enabling its North American expansion. A new distribution agreement with Playtech is expected to open up additional opportunities in Switzerland and the U.S.

Gaming Realms also released seven new games in the first half of 2024, increasing its total portfolio to 82 titles, up from 70 games in June 2023. Notable new releases include Slingo Capital Gains and Slingo Gold Cash, which have been well received by players. Unique players in the content licensing business grew by 24%, reaching 3.5 million, further highlighting the popularity of the company’s offerings.

Positive Post-Period Developments

After the reporting period, Gaming Realms has continued to experience positive momentum. Licensing revenues increased by 33% in the two months following the end of June compared to the same period in 2023. The company also launched content in West Virginia, its fifth regulated U.S. state, and received an iGaming Supplier License in British Columbia, Canada.

Gaming Realms expanded its presence in the European market by launching Slingo Originals content with Danske Spil in Denmark, and Betclic in Italy. Additionally, the company released new titles such as Slingo Press Your Luck and Slingo Phillies in partnership with BetMGM.

Outlook for FY24

Looking ahead, Gaming Realms is optimistic about its financial performance for the full year 2024. The company plans to build on its strong first-half performance by expanding into new international markets and strengthening its presence in existing ones.

CEO Mark Segal commented on the company’s performance, stating:

“We are delighted with our strong performance in the first half of 2024, with total revenue increasing by 18% to £13.6 million. Our focus on expanding our content licensing business has led to a 28% revenue growth and the successful launch of seven new games. These results reflect our commitment to innovation and solidify our position in the gaming industry.”

New game releases, including Slingo Fowl Play and Slingo Press Your Luck, are expected to drive further growth in the second half of the year.

Source:

“Gaming Realms announces its interim results for the six months to 30 June 2024”, gamingrealms.com, September 11, 2024

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Why UFC Vows Never to Return to Vegas Sphere

UFC 306, scheduled for Saturday, Sept. 14, will not only be the first sports event held at the Las Vegas Sphere. It will probably the last, if a lesson is to be learned from UFC CEO Dana White’s admitted mistake.

With production costs mounting and ticket prices in freefall, UFC 306 (aka Riyadh Season Noche) will be the first, and probably last, sports event to be held at the Las Vegas Sphere. (Image: UFC)

Tickets for UFC 306 sported the highest face value of any event ever staged in Las Vegas. They started at $2,500 for seats in the rafters and topped off at $23,437.50 for floor seats to the right of the Octagon.

As of Wednesday evening, only a few hundred of those face-value seats remained on Ticketmaster out of an original allotment of 18,500.

However, this does not mean that the event is nearly sold out. Thousands of tickets are still floating around reseller sites, where their prices have plummeted. StubHub has them starting at $720, Vivid at $502 and Seat Geek at $531.

On Ticketmaster, verified resellers (scalpers, basically) are losing their shirts on full public display. Right behind two of the original $23K seats (FLR3, Row 3, Seats 3-4) are five reseller seats on offer for $5,500 each (FLR3, Row 5, Seats 5-12).

The dots represent all the tickets for UFC 306 still available on Ticketmaster three days before the event. The blue ones are seats that never sold, the pink ones are on offer from verified resellers. These do not represent the only available tickets, however, as thousands are listed only on other reseller sites. (Image: Ticketmaster)

If these seats are still available hours before the event, their prices must be lowered much further if they are to sell at all. That includes the hundreds still listed at face value on Ticketmaster — unless UFC gives them away to VIPs, which is likely.

Why So Much?

Branded as Riyadh Season Noche UFC, for Mexican Independence Day two days later, the 10-bout spectacle promises an excellent lineup headlined by bantamweight champion Sean O’Malley defending his title against No. 1 contender Merab Dvalishvili.

But not $2,500-$23K-a-ticket excellent.

According to Billboard magazine, Dana White felt forced to charge that much to pay for its $8 million production costs — specifically, producing video content for the Sphere’s massive hi-def screen.

“Think about U2,” White told SNY Sports on Sept. 10, referring to the Irish rock band’s Sphere residency last year. “Whatever that cost them, they had 40 nights to amortize those costs. We just have one.”

Now, however, Billboard claims that White’s production costs have ballooned to $20 million — even after UFC partnered with outside producers, including Valerie Bush and Antigravity Academy, who will screen their own 90-second videos between bouts.

Of course, UFC will recoup some of its financial losses via pay-per-view sales, but, as White told MMA reporter John Morgan recently, “We’re not ever doing an event at the Sphere again,”

White Lies

Last October, White told ESPN’s Pat McAfee that “I have become obsessed with the Sphere,” adding that he had his entire production crew check out U2’s residency to conceive of ideas for visuals to envelop the Octagon.

“I’m telling you right now, this place is incredible,” White said.

If the new Billboard story is to be believed, however, White was not being entirely truthful.

According to the trade publication, White never wanted to stage UFC 306 at the Sphere. The Vegas orb only became an option after executives with MGM Resorts signed a deal with boxing promoter Al Hyman to bring Canelo Álvarez v. Edgar Berlanga to the T-Mobile Arena on Sept. 14 — a date White claims that UFC was promised in a 2017 anchor tenant agreement with T-Mobile.

That’s the arena that hosted last year’s “Noche UFC,” whose tickets were priced starting at $120 each.

 

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Kamala Harris’ Odds Improve After 2024 Debate Against Donald Trump

By most accounts, Vice President Kamala Harris was deemed the winner of Tuesday night’s presidential debate against former President Donald Trump. Her strong performance wasn’t a total surprise, as she was the betting favorite on the political wagering exchange Polymarket to be considered the winner before the Tuesday showdown.

Kamala Harris Donald Trump 2024 odds
Donald Trump and Kamala Harris squared off for their first, and possibly last, presidential debate in Philadelphia on Tuesday, Sept. 10, 2024. The 2024 odds have moved in Harris’ favor following the more than 90-minute spectacle. (Image: Getty)

Polymarket, a decentralized wagering exchange that facilitates the buying and selling of shares of political outcomes, had Trump as the 2024 favorite before the debate. His stock was trading around 52 cents to Harris at 46 cents. Things have since changed.

Harris was poised on Tuesday night at the National Constitution Center in Philadelphia and spoke directly to the people. She baited her opponent into discussing the past, as the billionaire became visibly upset at times trying to defend his record and expose her and President Joe Biden’s.

Though Trump said Tuesday was his “best debate ever,” even Republican stalwarts said he had a bad night. He seemed unprepared at times, reverted to old talking points that have been proven not to resonate with independents or Republicans who aren’t so-called “MAGA Republicans,” and was perhaps overconfident in taking on his new Democratic rival.

Whatever prep the former casino billionaire did was a bust in the eyes of political bettors, who quickly moved their election positions to Harris.

Harris, Trump Neck and Neck

Trump has largely been the 2024 betting front-runner since his June debate with Biden, which led to the president announcing he wouldn’t seek a second term. Harris was the party’s hand-picked replacement, and so far, it’s a bet that’s paying off.

As Trump doubled down on his belief that the 2020 election was rigged and he was the rightful winner, the 2024 Polymarket contest moved in Harris’ favor. Another political wagering exchange, Betfair, reported a similar movement.

As of noon on September 11, Polymarket has Trump’s shares at 50 cents to Harris’ at 49 cents. Betfair’s 2024 odds imply a winning chance of 51.2% for Harris and even money, or 50%, for Trump.

UK sportsbooks, where political betting is allowed, also shortened Harris’ line while lengthening Trump’s. William Hill now has Harris at 4/5 (-125), or implied odds of 55.56%. Trump is at 10/11 (-110), or an implied chance of 52.38%.

Before the debate, Trump was favored at -125 and Harris was the underdog at +110.

Do Debates Matter?

While most everyone in the US is very familiar with Trump, Tuesday’s debate gave Harris her first major chance to resonate with the American people after avoiding most media interview requests and shying away from the limelight over the past three and a half years as second in command to the commander-in-chief.

Harris remained light on policy specifics, opting instead for a softer approach and trying to appeal to voters’ emotions. Trump was brash, with his supporters claiming it was a three-on-one debate, as ABC News moderators David Muir and Linsey Davis repeatedly fact-checked him while letting Harris’ talking points go unchecked.

Odds, and presumably next week’s polls, will show a shift in Harris’ favor, but voters will have the final say on November 5.

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