Gambling in the USA
Eldorado Resorts Q1 Revenue Dips by 25%
Eldorado Resorts has published the financial results of the first quarter of 2020. The company’s revenues showed a fall of 25%, as anticipated after the lockdown caused by Covid-19 outbreak.
The first quarter witnessed a net revenue of US$473.1 million, a dip of 25.6% on a GAAP basis and a decrease of 17.5% YoY.
Eldorado reported an operating loss of US$123.2million versus an operating income of US$123.6million in 1Q19, with a GAAP net loss of US$175.6million.
Tom Reeg, CEO of Eldorado Resorts, said: “Our first quarter operating performance through the end of February 2020 represented a very strong start to the year.
“We were encouraged by the strength of the consumer and the pace of revenue growth for this two-month period.
“However, the strength in January and February was offset by Covid-19 related weakness due to the mandated closure of all our properties by March 18, 2020.
“Our primary focus since the mandated closure of our properties has been the safety and well-being of our team members and guests.
He elaborated on the revenue fall: “We responded quickly to reduce costs and preserve liquidity following the closures and ended the first quarter of 2020 with over $670million of cash on the balance sheet after drawing $465million on our revolver in March.”
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.
“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.
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.”
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