You are here: Home / Archives for Gambling News

Red Bull in Mix for Las Vegas NBA Franchise

Red Bull GmbH is looking to expand its sports empire and that could reportedly include acquiring a new NBA franchise, potentially in Las Vegas.

F1
Redbull driver Max Verstappen in a practice session for the Las Vegas Grand Prix. The energy drink maker is interested in owning a Las Vegas NBA team. (Image: Autosport)

Unidentified sources close to the matter told Bloomberg that Red Bull is in early talks about buying an NBA team and that its focus on an expansion franchise that would be located in the US casino hub. Speculation about NBA expansion is long-running and the leadership of Las Vegas and Seattle in that unofficial competition is among the worst-kept secrets in sports.

Last year, Commissioner Adam Silver refuted chatter that the league is eyeing expansion, but noted the issue could be addressed after the association’s new broadcast rights deal was sewn up. That is expected to occur over the near-term with recent reports suggesting several networks could combine to pay the NBA $76 billion over 11 years.

Silver hasn’t outright nixed the idea of expansion and has indicated if that happens, it’d be two teams to take the NBA to 32 franchises from the current roster of 30.

Red Bull Has Resources to Buy NBA Team

Red Bull is privately held so it doesn’t publicly report earnings and sales on a quarterly as do publicly traded companies, but its revenue reached $10.9 billion last year, or more than double the figure posted a decade prior.

The Austrian company said operating profits also increased last year and that it spent north of $1 billion on athletic sponsorships in 2022. Those data points imply Red Bull can likely easily digest the expected $4 billion price tag an NBA expansion team in Las Vegas will carry.

It’s possible that Red Bull would seek a partner to finance the acquisition of an NBA team because the company reportedly doesn’t have $4 billion in cash on hand and it prefers to avoid the issuance of debt.

Some of the beverage giant’s financial heft comes from its unique approach to sports. Traditionally, food and beverage companies have opted to sponsor arenas, events, and teams while pursuing endorsement deals with individual athletes. Red Bull actually owns teams, including two Formula One (F1) teams and Major League Soccer’s New York Red Bulls and RB Leipzig in the German Bundesliga. The beverage behemoth also owns a stake in Leeds United of the English Premier League and a controlling interest in a cycling team.

Red Bull Will Face Big Competition for Vegas NBA Team

Should the NBA officially declare that Las Vegas will be home to a new team, the list of bidders is likely to be extensive. Beyond Red Bull, NBA legends LeBron James and Shaquille O’Neal have both said they’d like to be part of ownership groups for a Sin City team.

Additionally, real estate developer LVXP wants to redevelop the previous Wet’n’Wild near the Fontainebleau and Sahara casino hotels with hopes of including an arena fit for the NBA, potentially positioning it and partners for ownership.

Another of the most viable contenders could be Oak View Group, which has said it’s earmarking $10 billion for a casino resort/entertainment district project that would include an arena fit for an NBA team. That project would require no public financing.

The post Red Bull in Mix for Las Vegas NBA Franchise appeared first on Casino.org.

Filed Under: Gambling News Tagged With: ,

‘Life is Beautiful’ Vegas Music Fest Scaling Way Back

This year, life will still be beautiful but much smaller.

This year’s “Life is Beautiful” festival will play to an audience only one-third of the festival’s maximum size. (Image: Digital Music News)

The annual “Life is Beautiful” Las Vegas music festival — held on 18 city blocks along East Fremont Street for 10 years — is being rerouted to a single vacant lot next to the Plaza Hotel & Casino downtown.

The year’s event, renamed “The Big Beautiful Block Party,” has also been scaled back from its usual three days to two.

“For a number of reasons, it was appropriate to hit pause on the Life is Beautiful Festival this year,” according to a news release from festival organizers that explained none of those reasons. “We are hard at work reimagining and evolving the festival experience for the sake of you, the fans, and the incredible community that surrounds us.”

The largest audience ever reported for “Life is Beautiful” was reported as 180,000 over three days. The 10-acre vacant lot that will host “The Big Beautiful Block Party” holds an estimated 25,000.

“This event is not intended to replace the festival,” the press release continues, rather optimistically. “For now, it gives us the opportunity to continue the annual tradition of gathering in Downtown Las Vegas to uplift one another, to express ourselves, and to connect. In time, the two will coexist.”

“Life is Beautiful” was founded by the late Tony Hsieh, former CEO of Zappos, in 2013. A controlling interest in the festival was purchased by Rolling Stone magazine in February 2022. Five years earlier, Rolling Stone laid off 30% of its editorial staff in a cost-cutting move as it shifted from bi-weekly to monthly print publication.

Last year, the festival celebrated its 10th anniversary in typically grand style, with headliners including Kendrick Lamar, ODESZA, and The 1975.

This year’s event is the first in which Rolling Stone is the sole owner.

The vacant-lot party will take place on two stages Sept. 27 and 28, from 5 p.m. to 2 a.m. The acts on those stages will be announced at 10 a.m. on Tuesday, June 25, with two-day passes, starting at $199, going on sale 10 a.m. Thursday, June 27, via lifeisbeautiful.com.

The post ‘Life is Beautiful’ Vegas Music Fest Scaling Way Back appeared first on Casino.org.

Filed Under: Gambling News Tagged With: , , , ,

Station Casinos Gave Workers Free Steaks, Possibly to Sway Union Election

Just a couple of days before Station Casinos workers voted on whether to affiliate with the Culinary Union, management tried to get employees to oppose the union with the lure of tasty food.

A steak dinner
A steak dinner, pictured above, is an example of a meal Station Casinos to its workers before a union vote. (Image: Lana’s Cooking)

The company served the culinary workers more than 500 complimentary steaks in 2019. Each was branded “Vote No!”

The giveaway was in response to workers previously saying the food they had been served in a free buffet wasn’t tasty. Food had become an employee concern.

By giving out the steaks, Station Casinos was hinting meals in the future would improve if the employees rejected the union during the 2019 vote. It turned out, the workers did oppose the union by a 627-534 vote.

Company Must Negotiate

Earlier this week, the National Labor Relations Board (NLRB) further directed Station Casinos and parent company Red Rock Resorts to recognize and negotiate with the Culinary Union.

Management had taken part in “egregious and pervasive unlawful conduct” leading up to the union vote, the federal panel said.

The NLRB also claimed Station Casinos’ actions “stemmed from a carefully crafted corporate strategy intentionally designed at every step to interfere with employees’ free choice whether or not to select the [Culinary] Union as their collective-bargaining representative,” according to the federal ruling.

In response to the ruling, Culinary Secretary-Treasurer Ted Pappageorge said it “affirms what we have been saying for years — that Station Casinos violated the law and the company must bargain with the union because of its unlawful actions that corrupted the prospect for a free and fair union election.”

Vote Was Fair

Red Rock Resorts spokesman Michael Britt said the 2019 workers’ vote “was a fair outcome that reflected the wishes of a majority of the Red Rock Team Members then and reflects it now,” according to the Las Vegas Independent.

The NLRB’s decision “upheld the findings of its own NLRB hearing officer,” and wasn’t unexpected, Britt added. The company is likely to file an appeal.

The controversy involves three gaming properties, including Red Rock Resort, Palace Station, and Boulder Station.

Decertification By Workers

More than half of the approximately 600 unionized workers at Sunset Station Hotel and Casino reportedly said in April they wanted to drop the Culinary Union as their labor representative.

The employees were in the process of signing a decertification petition, according to Station Casinos. Decertification petitions were previously signed in 2020 by a majority of workers at Boulder Station and Palace Station.

Culinary Workers Union Local 226 and Bartenders Union Local 165, represent some 60K workers in Las Vegas and Reno, including guest room attendants, cocktail and food servers, porters, bellmen, cooks, bartenders, and laundry and kitchen workers.

The post Station Casinos Gave Workers Free Steaks, Possibly to Sway Union Election appeared first on Casino.org.

Filed Under: Gambling News Tagged With: , , , , , ,

Canadian PowerPlay Launches New Website with Enhanced Gaming Features

powerplay_launches_new_icasino_sports_betting_website_in_ontarioOntario has 53 licensed gaming platform operators, each vying for a share of the lucrative CA$2.4 billion (US$1.7 billion) market, as reported by iGaming Ontario’s revenue figures for this fiscal year.

In a recent analysis, EKG predicted that a fully regulated Canadian market, excluding gray market participants, could reach a value of $9.2 billion, with icasino expected to dominate. Consequently, operators in this market are under constant pressure to innovate and enhance their offerings.

PowerPlay.com, one of these licensed operators, has recently unveiled its new Canadian website, designed to elevate the gaming experience for its users. The revamped site boasts hundreds of new casino games and innovative features like player props and the same game parlays in its sportsbook. The aim was to create a more intuitive layout and user-friendly interface, facilitating easier navigation and bet placement for players.

Enhanced Sports Betting Features

“The Same Game Parlay promises to be a hit, allowing players to bet on multiple events within the same game to compound their odds for a potential big payoff,” stated Bill O’Brien, sportsbook manager for PowerPlay. “These parlays can include popular player props, such as who will score or how many shots a player will get, beyond just betting on the game result. This is the next level of sports betting.”

Expanded Casino Game Offerings

On the casino front, PowerPlay has introduced a variety of new table games, slots, and live dealer casino games. According to PowerPlay CEO Dean Serrao, their global teams have worked tirelessly to ensure the best possible site experience for players. “The fact that players can now seamlessly access the platform across multiple localized markets will further enhance that experience,” Serrao added. Canada has been a core market for PowerPlay since its inception in 2018.

Global Reach and Localized Experience

PowerPlay’s commitment to enhancing the player experience is evident in their efforts to provide a seamless and engaging platform. The new website’s intuitive design and user-friendly features are aimed at making it easier for players to navigate and place bets. This commitment to quality and innovation is what sets PowerPlay apart in the competitive Canadian gaming market.

With the launch of its new website, PowerPlay.com is poised to offer Canadian players an improved and more enjoyable gaming experience. PowerPlay aims to remain a leading player in the regulated Canadian gaming market by continually evolving and improving its products and services.

Source: “PowerPlay launches new icasino, sports betting website in Ontario”, CDC Gaming Reports, June 17, 2024.

The post Canadian PowerPlay Launches New Website with Enhanced Gaming Features appeared first on Casino News Daily.

Filed Under: Gambling News Tagged With: , , , , , ,

PAGCOR Could Become PAGCAM in the Philippines, as Lawmakers Propose Overhaul

Philippines lawmakers have proposed overhauling the country’s gaming industry and ridding the government’s interest in operating slot machines, table games, and online gambling platforms.

PAGCOR Philippines casinos gaming industry
PAGCOR officials and Philippines President Ferdinand Marcos (far left) unveil the gaming regulatory and operator’s new logo in July 2023. PAGCOR in the coming years plans to sell off its government-owned casinos. (Image: Philippine Star)

Jonathan Flores, a senior member of the Philippines House of Representatives who chairs the chamber’s Committee on Government Reorganization, is calling on the Philippines Congress to support House Bill 3559. The measure was introduced in August 2022 by Rep. Ralph Recto, who is now the Secretary of Finance, but has sat unacted on in the Manila capital for nearly two years.

HB 3559 is an act to create the Philippine Amusement and Gaming Commission (PAGCOM). The government entity would regulate the many commercial casinos operating across Southeast Asia and additionally govern online gaming.

PAGCOM would succeed PAGCOR — the Philippine Amusement and Gaming Corporation — that currently both regulates and operates commercial casinos. PAGCOR’s casinos operate under the government’s Casino Filipino brand.

Conflict of Interest 

PAGCOR regulates commercial casino resorts in Manila and the capital’s Entertainment City, as well as casino venues in the Philippines’ freeport zones. Additionally, PAGCOR runs nine Casino Filipino branches and 33 Casino Filipino satellite locations.

There have for many years been calls for PAGCOR to sell off its Casino Filipino venues and transition to a regulatory-only capacity. During President Rodrigo Duterte’s reign, PAGCOR was readying to sell off those assets before the president concluded that their operations were too profitable to divest.

However, under President Ferdinand Marcos Jr., who assumed office on June 30, 2022, the government has begun the process of selling certain PAGCOR satellites. A handful of PAGCOR casinos have been divested since Marcos took office, though the most profitable Casino Filipino branches in Manila, Davao, Cebu City, and several other major cities and tourist destinations remain under PAGCOR ownership.

PAGCOR has committed to selling its remaining casinos by the end of the first quarter of 2026. PAGCOR Chief Executive Alejandro Tengco said last year that the agency is upgrading the casinos’ information technology systems and security protocols to ensure the government receives a premium price for the locations.

Privatization is at the forefront of our master plan with PAGCOR shifting its energy towards a purely regulatory role. Once these upgrades and renovations are complete, we expect our casinos to attract more players and guests, thus making our casinos more attractive to potential investors once we start offering them for sale,” Tengco said at last year’s G2E Asia expo.

“These projects and developments are geared towards our ultimate goal of decoupling PAGCOR’s role,” he continued. “Once we have a pure regulatory entity, you can expect a more dynamic and more lucrative Philippine gaming industry with a more level playing field that promotes fair competition and growth.”

Business Booming

The Philippines’ gaming market attractiveness has improved since China forced the government in Macau to better scrutinize junket operators. The travel organizers for many years had marketed to mainland Chinese people to gamble in the Special Administrative Region, the only place in the People’s Republic where casinos are allowed.

China President Xi Jinping declared that the large capital outflow of money through Macau posed national security risks. After a leading junket tycoon was successfully prosecuted on gambling crimes and sentenced to 18 years in a Chinese prison, most junkets fled for more favorable operating climates, including the Philippines.

The post PAGCOR Could Become PAGCAM in the Philippines, as Lawmakers Propose Overhaul appeared first on Casino.org.

Filed Under: Gambling News Tagged With: , , , , , , ,