Gambling in the USA

Caesars does not Gain Profit from H1 Revenue Growth in 2019

Published

5 years ago

August 7, 2019

Photo source: booking.com

Caesars Entertainment, an American gaming hotel and casino corporation founded in Reno, Nevada and based in Paradise, Nevada, has reported a net loss of $532m (£437.0m/€474.9m) for the first half of 2019, despite also experiencing a year-on-year increase in net revenue.

The US casino giant generated revenue of $4.34bn during the six months to June 30, up from $4.09bn in the corresponding period last year.

Caesars’ casino operations in the Las Vegas market remained by far the biggest source of income during the first half, with revenue rising from $2.04bn last year to $2.21bn.

There was also revenue growth across all areas of Caesars’ business, with food and beverage revenue climbing from $774m to $805m and rooms revenue from $755m to $793m.

However, Caesars reported an increase in operating expenses in the first half, as it spent a total of $3.83bn during the period. Direct casino costs were up from $1.13bn to $1.25bn, while property, general, administrative and other expenses jumped from $883m to $927m.

Caesars also noted an additional charge of $50m in relation to the impairment of intangible assets, although it did see depreciation and amortisation costs drop from $548m to $488m.

Income from operations increased from $407m to $509m, but higher losses in certain areas of the business meant net loss jumped from just $5m in the first half of last year to $532m.

Gambling in the USA

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

Published

1 week 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 week 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.”

Gambling in the USA

Mechoopda Casino to Suspend Operations Effective January 31, 2025

Published

1 week ago

January 23, 2025

Niji Narayan

The Mechoopda Indian Tribe has announced that the Mechoopda Economic Gaming Authority (MEGA) Board has made the decision to suspend operations at Mechoopda Casino. The final day of operations will be Friday, January 31, 2025.

The Mechoopda Casino says this decision comes after months of deliberation and efforts to address the various challenges affecting the casino’s operations.

Dennis Ramirez, Tribal Chairman of the Mechoopda Indian Tribe, said: “Suspending operations at the Casino is a heart-wrenching decision that affects not only our Tribe but also our valued employees, customers, and the surrounding community. While this chapter is closing, our commitment to the Casino’s long-term vision remains steadfast. For over 25 years, this project has been a cornerstone of our economic development goals, and we will continue to work toward its future reopening.”

The Tribe is taking steps to support both its employees and community partners during this transition period:

Employee Support: The Tribe is committed to offering resources and guidance to assist team members through this difficult time.

Remaining Open Until January 31: The Casino will remain open through its final day of operation, giving guests the opportunity to enjoy the remaining days of service.