Gambling in the USA

New UNITE HERE Gaming report asks: “Who’s on the hook for the Palms?”

Published

6 years ago

April 24, 2019

Photo Source: jerde.com

UNITE HERE Gaming released a new report providing investors in Red Rock Resorts, Inc. with an assessment of the company’s ability to achieve a sufficient return on investment with its nearly finished $1 billion-plus Palms Casino Resort project. Investors should ask management to set clear markers: who will be held accountable if the post-renovation Palms doesn’t generate the kind of return of investment (ROI) management has projected? The new report is available here: “Who’s on the Hook for the Palms?”

“A conservative interpretation of guidance from Red Rock’s management puts the midpoint for expected ROI at 13% or $130 million annual EBITDA from the new Palms,” said Jason Kordosky of UNITE HERE Gaming Research. “Investors in Red Rock Resorts should hold the company to such projections by insisting on property-level financial breakout for Palms going forward. There should be some accountability if Red Rock Resorts management cannot make good on its word after spending a billion dollars on Palms.”

Red Rock Resorts paid $312.5 million to purchase the Palms in 2016 and is wrapping up a $690 million renovation of the 17-year-old property more than a mile west of the Las Vegas Strip. In quarterly earnings calls on November 7, 2017, February 28, 2018, and November 7, 2018, Red Rock Resorts management told investors they expected a “mid-teens” to “low-double digit” return on the investment at the Palms. UNITE HERE Gaming Research analysis of Palms finds that it will be a challenge for the post-renovation property to generate that level of EBITDA. UNITE HERE Gaming Research believes Palms is likely to earn $100 million in annual EBITDA should it achieve margins of 30% or $117 million at 35% margins.

UNITE HERE represents 270,000 hospitality workers in gaming, hotel, and food service industries in North America and provides analysis from the perspective of those who work in these industries.

Source: UNITE HERE

Gambling in the USA

Revo Casino and Social House in Conway Holds Grand Opening

Published

2 weeks ago

February 7, 2025

Niji Narayan

Revo Casino and Social House in Conway, New Hampshire, has held its grand opening on Tuesday.

The Conway property is the latest addition to Revo’s growing presence in New Hampshire, joining locations in Dover, Lebanon, Manchester, and Keene.

Revo Casino and Social House’s new amenities include:

• Rebels: A bold dining experience with a full bar and great game-day energy. Revo’s signature restaurant serves up flavorful dishes like the Rebel Smash Burger, flatbread pizzas, and prime rib, making it the perfect spot to eat, drink and enjoy the action.

• Rebel Stage: Featuring live music every weekend.

• Revo Studio powered by iHeartMedia: An in-house broadcast center featuring live iHeart broadcasts. The studio also drives the Soundtrack of the Revolution, a curated music selection that sets the energy and vibe of the property.

Gaming Highlights: 75 thrilling casino machines, including Ultimate Fire Link Explosion, Huff N Even More Puff, and Devil’s Lock. Table games, including blackjack, roulette, and poker tables.

Speakers and guests at the event included Revo President Aaron Gomes, Executive Director of Mount Washington Valley Promotions Lisa DuFault, and the Mount Washington Valley Chamber of Commerce.

“It’s exciting to open Revo Casino and Social House and see the community’s enthusiasm for our gaming, entertainment and dining options. Beyond entertainment, Revo Casino and Social House will also support nonprofits across the Mount Washington Valley. We’re proud to be part of this community and contribute to its success,” said Gomes.

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“This facility will make such an incredible difference for so many nonprofits in the Mount Washington Valley. The support that Revo Casino and Social House provides allows organizations like ours to better serve our communities and care for those in need. The impact is truly life changing,” said Lisa DuFault, Executive Director of Mount Washington Valley Promotions.

Gambling in the USA

Gila River Resorts & Casinos hosts $5.9 million Big Game prop play contest

Published

1 month ago

January 24, 2025

Adrienn Sarkany

To celebrate the Big Game, Gila River Resorts & Casinos is offering one lucky player the chance to win a $5.9 million prize by correctly predicting the outcome of 26 Big Game prop plays through its $5.9 Million Prop Play Contest.

“Nobody does full gaming entertainment like Gila River Resorts & Casinos, and we’re proving it with an unprecedented chance to win $5.9 million,” said Dominic Orozco, President and Chief Marketing Officer, Gila River Resorts & Casinos. “As a sports-centric gaming brand, we’re not just offering the largest casino sportsbook in the state—we’re delivering a complete Las Vegas-style entertainment experience across four incredible properties. This isn’t just another game day promotion; this is our way of making the Big Game bigger and better for everyone. Let’s make history together.”

In addition to traditional game predictions, the 26 prop plays span the entire Big Game experience. From predicting which team will win the coin toss to the game MVP, the contest brings an immersive way to engage with the game. In addition to the $5.9 million jackpot prize, there will be lower-tier prizes and other instant win opportunities.

Players can enter the contest by completing a prop card online and activating it at any Gila River Resorts & Casinos property. Entry is free; players will need to provide their full name, email and date of birth. Guests must be 21 or older to play. Entries and activations will be accepted from Jan. 27 to Feb. 8 at 11:59 p.m. The winner(s) will be announced on Monday, Feb. 10.

Gambling in the USA

Spinomenal makes US debut with New Jersey market entry

Published

1 month ago

January 24, 2025

Adrienn Sarkany

Spinomenal, the leading iGaming content provider, has made its US debut after launching an exciting collaboration with a leading operator in the state of New Jersey, and is anticipating many more valuable collaborations with top tier online casinos.

Following impressive growth rates, Spinomenal is making a major move into the New Jersey iGaming market, marking a key step in its global expansion. By entering this crucial U.S. region, Spinomenal will bring its innovative games to a new audience, strengthening its presence and leadership in the iGaming industry.

Spinomenal’s specially selected titles will be going live via Pariplay’s Fusion aggregation platform in the New Jersey market. Some of the outstanding titles being made available for NJ players are Demi Gods II, Majestic Wild Buffalo and Kitsune’s Scrolls.

This marks a major milestone in Spinomenal’s strategic expansion plan, as this debut establishes the company’s initial presence within the New Jersey market, with further growth anticipated across the US iGaming ecosystem. This move underscores Spinomenal’s commitment to expanding its global footprint and further solidifying its position as a leader in the online casino industry.

Lior Shvartz, CEO for Spinomenal commented: “After a decade of establishing and positioning Spinomenal as a leading provider in the iGaming industry, we have now taken a big leap and will provide our exciting content to the esteemed New Jersey audience. We are highly optimistic about entering this prominent market, following the process of obtaining approval from the DGE.”