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Gambling in the USA

Michigan Loses Nearly $100M in Casino Tax Revenue, According to PlayMichigan

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Michigan Loses Nearly $100M in Casino Tax Revenue, According to PlayMichigan

 

The closure of 26 casinos in Michigan has cost the state and local governments nearly $100 million in tax revenue during the first three months of the shutdowns, according to a new analysis by PlayMichigan.

As Michigan moves toward reopening its casinos, PlayMichigan’s analysis shows how much revenue has been lost over the last three months.

“The closing of the state’s casinos has left a revenue hole in the Michigan budget that will be very difficult to fill. It shows just how difficult the road that lies ahead is as the state begins to recover from the COVID-19 pandemic,” Dustin Gouker, lead analyst for PlayMichigan.com, said.

According to the analysis authored by PlayMichigan.com’s Matt Schoch, the closures have resulted in a loss of $44.6 million in tax revenue for the city of Detroit, $44.2 million in tax revenue for the state of Michigan, $7.5 million in revenue for various local governments.

Combined, that is $96.3 million in lost revenue for state and local governments. And that number will continue to increase until every casino has reopened and recovered.

“The response to the pandemic was swift and understandable, but the toll has been significant in terms of tax revenue. And that is just one facet. Operator revenue has completely dried up, and that will have long-term ramifications, too, including job losses,” Gouker said.

The good news is many tribal casinos have reopened, albeit with reduced capacity and other limitations. And Gov. Gretchen Whitmer has expressed hope that Detriot casinos can reopen before July 4. But that too will come with restrictions that will continue to affect revenue, including a 15% capacity limit and a smoking ban on the casino floor.

In addition, new revenue will flow soon. Sportsbooks, which launched on March 11, were shuttered after collecting less than $600,000 in sports bets over six days. But with the sports world beginning to reopen—including the NBA in late July, which should draw significant interest—sports bettors will drive revenue never realized before.

“With the sports world figuring out a safe way to reopen, sportsbooks will be a key to Michigan’s recovery efforts. After three long months, a return to something resembling normal is welcome for everyone, including state and local governments and the operators themselves. If Michigan can avoid major setbacks, casino revenue will only help as the whole state recovers,” Gouker said.

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Gambling in the USA

BMM INNOVATION GROUP SHOWCASES ITS SUPPORT FOR TRIBAL SOVEREIGNTY AT INDIAN GAMING CONFERENCE & EXPO MARCH 31 – APRIL 3 AT SAN DIEGO CONVENTION CENTER

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Company to sponsor, attend, and speak at the San Diego, California show.

BMM Innovation Group (“BMM,” “BIG Group,” or “BIG”), a technology conglomerate focused on product compliance testing, cybersecurity solutions, and virtual training for the global gaming industry, today announced its sponsorship and participation in the Indian Gaming Association’s (“IGA”) annual IGA Conference & Expo, March 31-April 3 at the San Diego Convention Center.

With over three decades of experience supporting Tribal gaming, BIG will be on-site as sponsors, speakers, and attendees to reinforce the Company’s steadfast commitment to Tribal sovereignty and self-regulation.

Proud Partners in Tribal Progress

The BIG Group’s Chairman, President, and Chief Executive Officer Martin Storm said, “BMM proudly partners with Tribal governments, Tribal casinos, and Tribal gaming equipment and technology suppliers to advance Tribal sovereignty, self-determination, and economic development. We are honored to continue supporting the growth and integrity of Tribal gaming through our trusted product compliance services, world-class training and virtual education, and our cybersecurity solutions to protect Tribal enterprises.”

BMM’s long-standing relationships with Tribal gaming suppliers and regulators are at the heart of its mission. As active members of IGA and other key Tribal organizations, BIG is committed to elevating Tribal voices and ensuring Tribal interests remain at the forefront of industry growth.

BIG Group Shares Thought Leadership on Conference Panels and Trainings

  • In addition to sponsoring and attending, the BIG Group’s expert thought leaders will speak and provide in-person training at the conference:
  • Tuesday, April 1 at 9 am: Innovation vs. Regulation: Keep Pace with Emerging Gaming Technologies – Sean Mason, Senior Director of Tribal Services
  • Tuesday, April 1 at 4 pm: Gaming and Cyber Risk Best Practices – Mitigate Risk and Sleep Better at Night – Heather Lee, Senior Director of Sales for BIG Cyber
  • Wednesday, April 2 at 9 am: Level III Commissioner Certification Training – Peter Nikiper, Director of Technical Compliance

Unmatched Expertise in Product Compliance and Certification

As a trusted testing laboratory for Tribal gaming jurisdictions across North America, BMM’s focus is fairness, integrity, and security in every gaming environment. IGA attendees are invited to connect with BMM experts to learn more about the Company’s comprehensive product compliance programs.

Education & Training for Long-Term Success

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BIG continues to empower Tribal gaming employees through exclusive education and training programs, including free access to RG24seven Virtual Training. These knowledge-sharing initiatives are designed to support responsible gaming, regulatory compliance, and the long-term sustainability of Tribal gaming operations.

Cybersecurity Solutions Tailored for Tribal Gaming

The BIG Group is focused on bolstering cybersecurity defenses for Tribal enterprises through its BIG Cyber services, which includes penetration testing, vulnerability assessments, PCI:DSS evaluations, and a host of managed security services featuring CYREBRO’s Security Operations Center, KnowBe4’s security awareness training, and Maxxsure’s risk management platform.

 

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Gambling in the USA

Bruce Smith Enterprise and The Cordish Companies Break Ground on New Live! Casino & Hotel in Petersburg, Virginia

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Bruce Smith Enterprise and The Cordish Companies Break Ground on New Live! Casino & Hotel in Petersburg, Virginia

 

Bruce Smith Enterprise and The Cordish Companies celebrated the groundbreaking of the new LIVE! CASINO & HOTEL VIRGINIA in Petersburg. The milestone officially commences construction on a transformative project that will generate billions of dollars in economic benefits and spinoff development, create thousands of new jobs, and set a new standard for gaming, hotels, and entertainment in the Commonwealth. Live! Casino & Hotel Virginia is part of a larger $1.4 billion master plan by the partnership, scheduled to be developed in phases, that will bring a world-class mixed-use resort destination to Petersburg.

Executives from Bruce Smith Enterprise, The Cordish Companies, and Cordish Gaming were joined by Petersburg City Mayor Sam Parham and members of Petersburg City Council, Virginia State Senator Lashrecse Aird, Virginia State Delegate Kim Taylor, and many other business and community leaders at the project site in Petersburg. The development site, ideally located on Brasfield Parkway at the intersection of Wagner Road and Interstate I-95 just 20 miles south of Richmond, will provide easy access on and off the East Coast’s major north-south interstate.

“It has been a source of immense satisfaction and pride to partner in this incredible development. For far too long people have simply driven by the City of Petersburg, but today marks the beginning of a new era in which Petersburg will become a prime destination. This pivotal project will ignite tourism, create jobs, and ultimately deliver on the promise of greater opportunity and upward mobility for local families. As a champion of Petersburg and its residents, I am happily confident that this historic development will uplift, empower, and enrich this community for years to come,” said Bruce Smith, founder of Bruce Smith Enterprise.

Live! Casino & Hotel Virginia is slated to open in 2027. A temporary gaming facility will open by the end of 2025 to immediately begin creating an estimated 500 new jobs, vendor opportunities and economic benefits for the City. In its first 10 years, the project is expected to generate $2.8 billion in economic stimulus to the region; $504 million in tax revenues including $240 million to the City of Petersburg; $802 million in economic benefits during construction; $201 million in annual economic benefits each year after opening; and 7500 new jobs including 6100 during construction and 1400 new permanent jobs.

“Today marks a monumental day for The Cordish Companies as we expand our Live! brand into the Central Virginia region with the development of Live! Casino & Hotel Virginia. Our company is a national leader in successfully developing and managing large-scale urban revitalization projects across the country. Live! Casino & Hotel will be a transformative development that will bring a world-class gaming and entertainment experience to millions of visitors, create significant new jobs, and generate millions of dollars in economic benefits for the community that will provide a beneficial impact for generations. We look forward to making an immediate impact on the region with the construction of a temporary gaming facility that will be operational before the end of 2025, so that we can begin creating jobs, vendor opportunities and economic benefits for the City,” said Zed Smith, Chief Operating Officer for The Cordish Companies.

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Gambling in the USA

PENN Entertainment Launches Stand-alone Hollywood Casino App in New Jersey

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PENN Entertainment announced that its stand-alone Hollywood Casino app has launched in New Jersey. The new Hollywood Casino platform is available on Android, iOS, and desktop and can also be accessed via the ESPN BET app. Customers can login to Hollywood Casino using their ESPN BET credentials, allowing for a seamless experience across PENN’s online betting and casino platforms.

Ranked by Eilers & Krejcik as the #2 overall iCasino product in the US, Hollywood Casino offers a variety of online slots, table games, and live dealer content, including original titles from PENN Game Studios, the company’s in-house casino game development studio. Hollywood Casino also includes bespoke live dealer tables and exclusive games such as the recently launched Devils Blackjack, an original title leveraging PENN’s partnership with the New Jersey Devils.

“We’re thrilled to introduce our dedicated, casino-first experience to customers across New Jersey. Hollywood Casino delivers a best-in-class experience with an extensive game library, seamless gameplay, and exclusive content from our in-house studio. This launch builds on the strong momentum we’ve gained since introducing our enhanced standalone app in December,” said Aaron LaBerge, Chief Technology Officer of PENN Entertainment.

The stand-alone Hollywood Casino platform debuted in Pennsylvania last December and is also available in Michigan.

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