Gambling in the USA
Gaming and Leisure Properties and The Cordish Companies Announce Strategic Relationship

Gaming and Leisure Properties, Inc. announced that it entered into definitive agreements to acquire the real property assets of Live! Casino & Hotel Maryland, Live! Casino & Hotel Philadelphia, and Live! Casino Pittsburgh, including applicable long-term ground leases, from affiliates of The Cordish Companies (“Cordish”). The initial transaction has an aggregate consideration of approximately $1.81 billion. Cordish will immediately lease back all the properties, and continue uninterrupted to own, control and manage all the gaming operations of the facilities. The transaction for the three properties includes not only the existing real estate assets, but also a binding partnership on future Cordish casino developments, as well as potential financing partnerships between GLPI and Cordish in other areas of Cordish’s portfolio of real estate and operating businesses.
Consideration for the three-property real estate transactions will be comprised of a mix of qualified debt assumption (to be satisfied by GLPI), cash, and $323 million of newly-issued operating partnership units, or OP units, in GLPI’s operating partnership, economically aligning both groups for future collaboration and partnership.
Simultaneous with the closing of these transactions, GLPI will enter into a new triple-net master lease with Cordish for Live! Casino & Hotel Philadelphia, and Live! Casino Pittsburgh, as well a single asset lease for Live! Casino & Hotel Maryland. The master lease and single asset lease will have an initial term of 39 years, with a maximum term of 60 years inclusive of tenant renewal options. The initial annual cash rent for all three properties will be $125.0 million, with a 1.75% fixed yearly escalator on the entirety of the rent commencing upon the leases’ second anniversary, representing an implied capitalization rate of 6.9%. The rent coverage ratio in 2022 is expected to approximate 2.0x for the master lease and 2.7x for the single asset lease.
Peter Carlino, Chairman and CEO of GLPI, commented, “We are excited to establish a relationship with The Cordish Companies, one of the country’s preeminent developers of large-scale experiential real estate projects, casinos, hospitality and entertainment districts. We have long admired Cordish for their creation of the highly successful ‘Live!’ brand across these entertainment, gaming and hospitality districts. A crucial aspect of our transaction was Cordish’s continued commitment to operating with the same team, approach, and standard of excellence that has brought their casinos so much success. These new leases are expected to have strong rent coverage at an accretive cap rate while further expanding and diversifying our portfolio and marking a continuation of our strategy to build an industry leading, high quality tenant roster. In addition to the real estate transaction for the three properties, we are excited to partner with Cordish on a range of future strategic opportunities that can leverage the financial and real estate development strengths and resources of both companies. The OP unit portion of the transaction consideration aligns our interests with the goal of building new value for our constituents.”
David Cordish, Chairman of The Cordish Companies, commented, “We have long admired GLPI’s pioneering structure and accomplishments as a public platform. Cordish is delighted to be partnering with GLPI on this range of transactions, which align two recognized leaders in their respective industries. Live! is iconic brand, and our commitment to our customers, team members and local communities as top priorities will continue unabated. We look forward to continue delivering quality entertainment experiences in the markets we serve now, and collaborating and partnering with GLPI on opportunities to grow the Live! brand in the future. Our election to receive a significant portion of our consideration in GLPI OP units stands testament to our recognition of GLPI’s significant underlying value and quality as a company, and the synergies we see between the two companies.”
The Maryland transaction is expected to close by 2021 year end, and the Pennsylvania transactions are expected to close in early-2022, all subject to receipt of required regulatory approvals, financing and other customary closing conditions. GLPI expects to fund the total cash consideration payable by it at the closings using cash on hand, borrowings under its revolving credit facility and/or with funds from additional financing arrangements, which are expected to include issuances of debt and equity securities, or a combination thereof. The sources of financing actually used will depend upon a variety of factors, including market conditions.
In addition to the real estate transaction for the three properties, and the potential for collaboration at existing or future non-gaming properties, GLPI and Cordish have agreed to collaborate on a range of future real estate and development opportunities, including:
- Casino Development Equity Co-Investment Partnership: For a period of seven years following the closing of the transaction for the Pennsylvania properties, GLPI will co-invest with Cordish on any new gaming development project, excluding those involving currently-owned Cordish properties or existing gaming licensed facilities. GLPI will invest in 20% of Cordish’s portion of the equity in the project throughout the life of the project.
- Right Of First Refusal: For a period of five years following the closing of the transaction for the Pennsylvania properties, GLPI will have a right of first offer and right of first refusal on any sale-leaseback (or similar) transaction which Cordish pursues, in whole or in part, related to a specifically identified Cordish Live! Entertainment District property.
Wells Fargo Securities acted as financial advisor to GLPI on the transaction.
Gambling in the USA
Seminole Hard Rock Hotel & Casino Tampa Named Luckiest Casino in US by Casinos.com

Seminole Hard Rock Hotel & Casino Tampa has been named the luckiest casino in the US according to a recent study conducted by Casinos.com. The resort claimed the top spot based on an in-depth analysis of Tripadvisor reviews, measuring the frequency of luck-related keyword mentions.
With a 25.49% luck rate, Seminole Hard Rock Tampa topped the list thanks to glowing guest feedback, including frequent mentions of jackpots, hand pays and bonus wins. 50 reviews mentioned the word “jackpot,” and 19 even referenced a “hand pay.”
Casinos.com tracked keywords such as lucky, luck, won, winning, success, jackpot, hand pay, winner, bonus, profit to determine which U.S. casinos inspired the most winning moments among visitors.
“I hit 4 jackpots. I stayed one night. I had a blast. The machines are as loose as anywhere else,” wrote one Tripadvisor reviewer, noted Casinos.com, capturing the essence of why the casino landed in the No. 1 spot.
“We’ve always known this was a lucky casino, but it’s exciting to see that recognized through data-driven research. It’s a testament to the vibrant energy on our casino floor and the unforgettable experiences we strive to create for every guest,” said Steve Bonner, President of Seminole Hard Rock Hotel & Casino Tampa.
The ranking reinforces Seminole Hard Rock Tampa’s reputation as one of the premier gaming and entertainment destinations in the US. Seminole Hard Rock Tampa was not involved in the study and was unaware of it until the results were publicly released.
Over the past year, Seminole Hard Rock Tampa has paid out nearly 839,000 jackpots totaling more than $2.45 billion, continuing to deliver thrilling high-stakes gaming. Since May 1, 2024, the casino resort has awarded 375 jackpots of $100,000 or more, amounting to an impressive $61 million in winnings. Notably, 47 of those massive wins stemmed from bets of $5 or less and nine came from wagers of $3 or less.
Seminole Hard Rock Tampa offers a fully integrated casino experience with a sleek, modern design and welcoming atmosphere of 245,000 square feet of gaming space and entertainment. With 5230 of the hottest slot machines and a full range of table games such as poker, blackjack and baccarat, there is no shortage of opportunities to win. Additionally, guests can enjoy live craps, roulette, and sports betting at their leisure.
Gambling in the USA
California Gambling Control Commission Advances Licensing, Tribal Partnerships, and Responsible Gaming Initiatives

Sacramento, CA — In a meeting packed with regulatory updates and licensing decisions, the California Gambling Control Commission (CGCC) convened on April 24 to advance numerous agenda items impacting the state’s gambling landscape—from tribal gaming approvals to responsible gambling programs and operator renewals.
Problem Gambling & Public Health Takes the Stage
The Commission meeting opened with a presentation by Sosha Marasigan-Quintero from the California Department of Public Health, offering an overview and update on the California Problem Gambling Treatment Services Program. While no specific staff recommendations were provided, the update underscores California’s continued focus on behavioral health in gambling.
Tribal Revenue Distribution Approved
The Commission approved the quarterly distribution of payments from the Revenue Sharing Trust Fund to eligible recipient Indian Tribes. This routine, yet vital, procedure ensures the equitable distribution of revenue to support tribal sovereignty and infrastructure across the state.
Cardroom Licensing: Approvals and Extensions
Among key licensing matters:
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500 Club Casino (K & M Casinos, Inc.) received both initial and renewal owner-type license approvals through January 2027.
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Casino Chico, Hollywood Park Casino, and Lake Bowl Cardroom were granted renewals and short-term extensions, some with conditions such as improving record-keeping systems or ensuring regulatory compliance ahead of reopening.
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Hotel Del Rio & Casino was granted a 60-day extension under several strict conditions, including updated safety plans and the restatement of commingled financial records.
Key Employee Licensing Actions
The Commission approved several initial and renewal key employee licenses. Notably:
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Jeffrey Thompson was approved with a condition prohibiting involvement in illegal gambling activities.
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Kevin Lee and George Rahme received 120-day extensions for renewal processing.
Third-Party Proposition Player Services Under Scrutiny
The Commission approved both initial and temporary licenses for Fortune Players Group, Inc., with a lengthy list of conditions tied to the conduct of a former associate, Rene Medina. These conditions highlight the Commission’s ongoing vigilance in monitoring third-party player services and maintaining compliance across operations.
Progressive Gaming, LLC was also approved for an initial license, further expanding third-party service provider capacity.
Gaming Resource Suppliers & Tribal Approvals
Initial suitability findings for several prominent tribal gaming resource suppliers were approved, including:
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HCAL, LLC
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JCM Global
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Konami Gaming, Inc.
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PDS Gaming, LLC
Dozens of tribal gaming employees were also approved for key positions at tribal casinos across California, reflecting the Commission’s continued support of tribal gaming operations and the necessary workforce to support it.
Notable Withdrawals and Denials
In two notable cases, requests to withdraw license applications—Josephine Hoang and Jesus Bojorquez—were denied, signaling the Commission’s increased scrutiny and emphasis on applicant accountability.
A Broader Look Ahead
With regulatory reform on the horizon and ongoing efforts to promote responsible gaming, the April 2025 CGCC meeting showcased a mix of routine license management and deeper engagement with emerging compliance issues. As the Commission prepares for the next quarter, the groundwork laid in this session will likely influence policy developments and enforcement trends across California’s gambling sector.
Gambling in the USA
NEW YORK CASINO IN MEXICO WELCOMES CONCEPT AND NEW GAMES FROM ZITRO

The renowned Mexican operator Logrand has installed Zitro’s new CONCEPT cabinets and a selection of its latest games at the New York Casino in Monterrey.
Building on its global success, the CONCEPT cabinet line stands out for its Magic Lighting, immersing players in a synchronized light display, resulting in a unique sensory experience. Furthermore, the cabinet’s large Screen Deck blends comfort with intuitive functionality, optimizing the experience for players and operational teams.
The installation of the CONCEPT cabinets is complemented by the addition of the medieval-themed multi-game Legendary Sword, in which players can double their prizes through unique mechanics with the help of a magic sword.
On the other hand, Fairyland Quest takes players to an enchanted forest where Magic Mushrooms give access to a different bonus each, while a friendly Fairy will give a special bonus that doubles the playing area.
Juan David Baracaldo, Director of Operations and Product, highlighted: “The addition of Zitro’s CONCEPT cabinets is a great step to continue offering unique and high-quality experiences to our players. The unique combination of technology, spectacular graphics, and the experience these cabinets offer will further elevate our casino’s entertainment offering.”
For his part, Johnny Ortiz Viveiros, founder of Zitro, expressed: “We are very excited to strengthen our partnership with Logrand, a strategic partner that shares our vision of providing exceptional gaming experiences. The new CONCEPT cabinets and games like Legendary Sword and Fairyland Quest are just the beginning of what will transform how players enjoy entertainment.”
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