Judge Cohn Jubelirer said Friday that although she found “striking similarities” between some of the titles provided by iLottery and conventional online or land-based casino matches, Pennsylvania’s gaming expansion law was ambiguous enough about the contested game categories that she did not believe the brick-and-mortar facilities had “fully and completely” established a right to relief, or at least not for now.
In a statement announcing their move, the casinos said that the games supplied by the Lottery were illegal and that, “to make the matters even worse, the agency is promoting casino-style gambling to teenagers.”
A coalition of seven Pennsylvania casinos that filed a lawsuit seeking an injunction to stop Pennsylvania’s Lottery from offering online casino-style games suffered a major blow in court this past Friday.

The gaming venues expressed worries which the games of iLottery could result in the casinos when they begin their very own gambling operations losing revenue. They noted that “any loss in casino revenue will hurt Pennsylvania’s tax collection for real estate tax relief and local enhancement projects funded by gaming tax dollars”
The launch of the iLottery product enraged many casino operators in the country, who argued that the games supplied by the Pennsylvania Lottery mimicked overly tightly casino-style matches for example online slots.
Commonwealth Court Judge Renee Cohn Jubelirer denied that the injunction request saying that the seven casinos hadn’t established they would suffer a loss of business due to Pennsylvania games.
In its suit, the seven casinos stated that the Pennsylvania Lottery provided “prohibited, simulated casino-style online games” and those were promoted to prospective clients as young as 18. In comparison, the nation’s casino operators, most of which are expected this summer, to launch their own gambling operations, are not allowed under the age of 21 to support players.
Seven of the state’s 13 casinos filed a suit in May to the Commonwealth Court, wanting to halt the provision of iLottery games as stated previously.

Judge Cohn Jubelirer issued her ruling ahead at Monday of the beginning of a three-day test of Parx Casino and Hollywood Casino’s online casinos. If the Pennsylvania Gaming Control Board does not spot any irregularities throughout the test period, both casinos will have the ability to formally launch their iGaming operations and indicate the start of regulated online casino gaming in the nation.
While Judge Cohn Jubelirer’s choice to deny that the casinos’ injunction request doesn’t close the case, it represents an important win to the Pennsylvania Lottery and means that its matches are safe for today . The agency expected to produce a gain of roughly $31 million out of its new item that was online. It fell slightly short of those projections, but pointed out that the launch of the games was an important step toward raising proceeds which it supports.

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The Pennsylvania Lottery launched in May 2018 its online lottery product as part of a sweeping gaming overhaul approved by Gov. Tom Wolf in the autumn of 2017. Customers can get the iLottery section on the Lottery website both via the Pennsylvania Lottery program or desktop.

The Home Minister’s comments came in response to a question whether the government had any plans to overthrow the nation’s obsolete present laws which were introduced back in the 1950s and 1960s.
The country’s Home Minister, Muhyiddin Yassin, said during a question-and-answer session which happened today from the Dewan Rakyat (the lower house of the Malaysian Parliament) that his fellow lawmakers have decided to update the laws because at present they do not cover online gambling. But, digital gambling and betting have become extremely common in the nation and the region as a whole over the last ten years.

Illegal Gambling Firms Increasing

Malaysia’s government wants to amend the nation’s existing gambling laws in order to bring them in line with the contemporary gambling environment in the country, according to local press outlets.

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Reports the Malaysian government was looking to reorganize the local gaming market emerged in May. Back then, lawmakers in addition to agents from Malaysia’s Finance Ministry, the country’s Communication and Multimedia Commission, Bank Negara Malaysia, and the local authorities met with licensed gambling operators to discuss strategies towards the introduction of a new legal framework and steps which can be deployed for fighting illegal gaming.
The country’s Home Minister said he would not hesitate to work against any police officer who is found to be involved in the provision of illegal gambling services on the territory of the country.

These pieces of legislation were implemented way before the debut of internet gambling and lack the necessary controls for curbing irregularities in that rewarding section.
A gaming operator who attended the meeting told local press outlets that legislators were “seriously looking into changing gaming laws” in order to boost the ongoing crackdown on unauthorized gaming and betting operations happening on the land of the country.
News about lawmakers seeking to craft new rules and regulations that would govern the nation’s gambling industry emerge shortly after Malaysia’s authorities announced that over 14,700 individuals have been arrested and more than MYR3.8 million was seized in raids against illegal gaming since the start of the year.
Now’s Q&A session also saw Alice Lau, a member of Malaysia’s Parliament representing the Lanang constituency, urge the government to tackle the rising issue of police officers participate in illegal gambling operations. She asked what measures could be obtained so for this issue to be dealt with.

Minister Muhyiddin also dwelt about the growing amount of illegal gambling syndicates in the country, stating that some of them are believed to be bringing up to MYR300,000 a day by targeting Malaysian clients. Such operations are being conducted without the necessary licenses and permission by the competent government.

Eldorado Resorts has agreed to merge its casino business with Caesars Entertainment Corp. in a cash and stock deal that values the latter company to $18 billion, sources familiar with the ongoing deal talks said on Sunday.

News about the two operators’ merger arrive a few months after it first emerged that they have engaged in consolidation discussions. At press time, the combination is yet to be confirmed by Eldorado and Caesars.

The deal values Caesars at nearly $13 a share, sources said. Ownership of the combined entity would be split roughly between the two casino operators. The price is almost in line with what Caesars has been understood to have expected from a potential buyer.

Earlier this month, reports emerged that the Las Vegas giant’s largest shareholder – New York businessman Carl Icahn – and the company’s board were at odds over the sale price. Mr. Icahn was understood to have pressed Caesars to finalize merger talks with Eldorado even at a price lower than the $13 a share it sought. However, the company’s board reportedly looked to squeeze from Eldorado an offer that “is right for all shareholders.”

Merger talks between Eldorado and Caesars started in March. It was reported back then that Caesars has allowed Eldorado access to its financial information.

Caesars has been pressed to sell itself or merge with another business by its largest shareholder. Mr. Icahn currently owns 28.5% of company shares. He started building his stake in the major casino operator early this year. According to the activist investor, a sale or a merger was the best path forward for Caesars, which currently has a mountain of net debt and is looking to cut costs significantly.

The Combined Entity

As mentioned earlier, the merged company’s ownership is likely to be split between the two casino operators. According to previous reports, Eldorado’s CEO, Tom Reeg, would step in as Chief Executive of the newly formed business.

Mr. Reeg’s leadership skills are believed to be highly valued by Mr. Icahn. The Eldorado boss played an important role in the company’s acquisition of Mr. Icahn’s casino business. Last year, the gaming and hospitality operator purchased Tropicana Entertainment Inc. from the New York activist investor in a $1.85 billion deal.

Eldorado has a market value of around $4 billion. The company operates 26 properties in 12 states. It recently obtained a permanent license to operate Tropicana Atlantic City, one of the properties it bought from Mr. Icahn in 2018.

As for Caesars, its portfolio includes 53 gaming and non-gaming resorts in 14 US states and five other countries. In the US, the company operates the Harrah’s and Horseshoe casino brands, among others. It emerged from a long and complex bankruptcy in the fall of 2017.

The combination of the two resorts would create a land-based casino powerhouse with ambitions to expand its presence across multiple jurisdictions and to cement itself in the recently liberalized US sports betting market.

Eldorado and Caesars’ combination could see a bit of regulatory trouble. In Atlantic City, for example, the merged entity will run four of the city’s nine operational casinos. This nearly monopolistic situation is not likely to appeal to regulators and the merged business could be asked to offload some of its properties.

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Casino and racetrack operator Churchill Downs Inc. finalized earlier this month the acquisition of a majority stake in Rivers Casino Des Plaines near Chicago, even though it seems it has failed to fulfill an important condition of the Illinois Gaming Board.

The state gaming regulator gave the green light to the transaction on March 1. Board members voted overwhelmingly in support of the $326 million deal that saw Churchill Downs acquire a nearly 62% stake in Rivers Casino’s owner Midwest Gaming Holdings.

However, the gaming regulator told Churchill Downs that it had 90 days to bring in more female and minority investors as an important condition for the company to be able to seal the transaction. The company purchasing a majority stake in the property’s owner resulted in female and minority ownership interests dropping from 17% prior the sale to under 3%. This was due to the fact that most of the female and minority investors agreed to sell their holding to Churchill Downs.

To close the deal, the company has agreed to sell up to 10% of Midwest Gaming to new female and minority investors within a 90-day period in “a good faith effort”.

The deal was closed on June 4. However, it seems that the female and minority investors condition has not been fulfilled.

Issue Could Be Taken Up by Gaming Board

News outlet the Chicago Daily Herald reported Thursday that a now former board member has urged the regulator to take up the issue again. During a June 13 meeting of the board, Chairman Donald Tracy urged his fellow regulators to continue reviewing the transaction, even though it was finalized earlier this month. Mr. Tracy said that the matter should be discussed again during the board’s next meeting on August 1.

The gaming official added that “I hope and expect the board to determine whether or nor the … Churchill Downs effort to sell up to 10% to statutory investors was a good-faith effort or not.” Mr. Tracy resigned from his Chairman post shortly after the board’s June 13 meeting.

Rivers Casino is Illinois’ largest and highest grossing casino. According to stats released by the Illinois Gaming Board, the property generated gaming revenue of $441 million last year. Of that, $170 million was contributed to the state, while local governments received $25 million.

Midwest Gaming assumed ownership of Rivers Casino Des Plaines in December 2008. It is believed it was granted a license by the state regulator because of its plan to bring in more female and minority investors.

Aside from Rivers Casino, Churchill Downs also owns Arlington International Racecourse in the greater Chicago area. The company is extending its footprint in Illinois at a time the state is gearing up for massive expansion of its gambling industry. The state Legislature approved recently a legislation providing for the construction of up to six casinos and the regulation of sports betting, among other things.

The gambling reform needs Gov. J.B. Pritzker’s signature to take effect as a law, and the state’s top official has indicated that he favors expansion of the local gaming and betting industry.

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Like Oliver Twist in the novel by Charles Dickens by the same name, Marina Bay Sands is asking for more. It is reaching out to lenders in search of another $6 billion in financing for its expansion plans, after borrowing $3.71 billion from 28 lenders seven years ago. Just like Oliver was lambasted by Mr. Bumble and Widow Corney for making the request, Marina Bay’s parent company, Las Vegas Sands (LVS), will most likely receive a similar response.

LVS still owes $2.91 billion for money it was given in 2012 and receiving more loans won’t come easy. Local financial institutions will most likely be hesitant to step forward, with one bank telling Reuters, “The borrower has not raised such a size before and it is also unprecedented for the market in Singapore.”

New lenders most likely will not be willing to jump in, which means that LVS will have to turn to existing lenders if it wants the money. Another banker told Reuters, “I don’t expect a significant number of new lenders joining the deal because the borrower has already combed the market in the past.”

LVS, as does virtually every major casino operator, wants to be awarded one of the three initial casino licenses in Japan. It has been pointed out that the company’s business model in Singapore works well, and could be adopted for Japan’s integrated resorts (IR). LVS has been hoping its continued performance in Singapore will show the Japanese government that, despite carrying massive debt and possibly influencing legal decisions, it deserves one of the licenses.

LVS has the largest chunk of the US casino market by market value. However, its revenue is dependent significantly on how the company’s Asian venues perform. LVS saw EBITDA (earnings before interest, taxes, depreciation and amortization) of $1.45 billion in the first quarter of the year, of which Singapore provided 29%.

That performance has allowed Moody’s Investors Service to continue to give the company a credit rating of Ba1, a rating it has held since 2015. The rating could be better, but certain bonds held by LVS “are judged to have speculative elements and are subject to substantial credit risk.”

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