Gambling in the USA
Gaming and Leisure Properties Inc. Completes Acquisition of Philadelphia and Pittsburgh Live! Casino Properties
Gaming and Leisure Properties Inc. (GLPI) has announced that it has completed the acquisition of the land and real estate assets of Live! Casino & Hotel Philadelphia and Live! Casino Pittsburgh from The Cordish Companies for total consideration of approximately $674 million.
The Company funded the transaction by assuming approximately $423 million in debt (which the Company has repaid), and issuing approximately $137 million of operating partnership units (3.0 million total units), with the balance paid from cash on hand, which was in part generated by its December issuance of senior unsecured notes and common stock.
Simultaneous with the closing of the transaction, Gaming and Leisure Properties entered into a master lease with Cordish, pursuant to which Cordish will continue its uninterrupted ownership, control, and management of the operations of Live! Philadelphia and Live! Pittsburgh (the PA Live! Master Lease). The PA Live! Master Lease has an initial annual cash rent of $50.0 million and an initial term of 39 years with a maximum term of 60 years, inclusive of tenant renewal options, as well as a fixed annual lease escalation of 1.75% beginning in the leaseâs third year.
âWe are delighted to add the Live! Pennsylvania properties to our portfolio and expand our presence in the attractive Pennsylvania market with truly world-class properties. The Cordish Companies is world renowned for creating large-scale experiential real estate projects, casinos, hospitality and entertainment districts and we believe their Live! brand exemplifies their track record of development and operating success. Further, our PA Live! Master Lease with Cordish has strong rent coverage and is part of an accretive overall transaction that positions Gaming and Leisure Properties to continue to build value for shareholders through our industry- leading, high quality tenant roster. We are excited to welcome the Live! Pennsylvania properties to the GLPI family and we look forward to working with their team to support the long-term success of the properties. In addition, our announced transactions with Ballyâs Corporation for properties located in Rock Island, Illinois and Black Hawk, Colorado are now expected to close in the first half of 2022, while the transactions for Tropicana Las Vegas are expected to close by year end,â Peter Carlino, Chairman and CEO of Gaming and Leisure Properties, said.
Gambling in the USA
Phoenix Link by Aristocrat Gaming Now Lighting Up Casino Floors
The hottest new game from Aristocrat Gaming, Phoenix Link, is now live on casino floors, with Yaamavaâ Resort & Casino being the first in North America to offer the highly-anticipated game. As the next evolution of the international hit game, Dragon Link, Phoenix Link features player-favorite mechanics from top games with all-new themes, features, and bonuses.
âWe have been humbled by the incredible global fanfare Dragon Link has received over the years but are never ones to rest on our laurels. The teams have been working tirelessly on a follow-up that brings together all the player-favorite elements in a new and exciting way with Phoenix Link as the proud result. We were thrilled to partner with Yaamavaâ to premiere Phoenix Link with flair, excitement, and celebration,â said Victor Duarte, executive vice president of product for Aristocrat Gaming.
Phoenix Link players will enjoy the gameâs additional denominations, configurations, and jackpots on each of the launch game theme titles. Gameplay features include Hold & Spin, Free Games with multiplier wilds or twin spin reels, Phoenix Mystery trigger, and more new bonus twists. Phoenix Link is available on the Neptune Single cabinet.
âYaamavaâ is thrilled to host yet another world premiere in gaming with the launch of Phoenix Link by Aristocrat Gaming. Our Club Serrano members are already raving about this captivating extension of the player-favorite Dragon Link. Itâs a great addition to the Yaamavaâ gaming floor,â said Kenji Hall, General Manager of Yaamavaâ Resort & Casino at San Manuel, said.
Gambling in the USA
NOVOMATIC shines at G2E 2024: A street smart showcase of innovation and engagement
In line with its commitment to innovation, NOVOMATIC unveiled several ground breaking product launches that left a significant impact on the gaming industry. The V.I.P. Xâ˘Â cabinet series emerged as one of the main attractions, highlighting models such as the V.I.P. X Royal⢠1.85, V.I.P. X Dream⢠3.43, and the V.I.P. X Lounge⢠2.32. The crown jewel of the presentation was the V.I.P. Galaxy⢠2.65, setting a new benchmark for luxury cabinets with its perfect blend of comfort and state-of-the-art gaming technology. Featuring high-definition screens and immersive sound systems, the fully adjustable lounge design promises an unparalleled gaming experience, leaving customers eager to introduce these innovations onto their gaming floors.
The unveiling of a new LED wall as part of the DIAMOND Xâ˘Â series, including the DIAMOND X⢠1.55J, showcased the U.S.-style designed Piggy Prizes title. The modern and interactive design sent a clear message: NOVOMATIC Americas has fully arrived, enhancing its reputation for premium entertainment experiences.
Groundbreaking Progressives and a Robust VGT Lineup
NOVOMATIC introduced a variety of THUNDER CASH⢠GOLD Progressives featuring new titles like Charming Ladyâs Boom Coinsâ˘Â and Red Amazon Explosionâ˘. The Globe Link⢠Xtension Volume 1 & 2 also attracted considerable interest, marking a significant impact with several new themes. The excitement surrounding these progressive games was palpable, bolstered by innovative math models and enticing bonus structures.
The VGT product range received special emphasis, particularly with the Street-Smart-themed area dedicated to highlight the themes and flexible assortment of cabinet styles for markets in Illinois, Pennsylvania, West Virginia, Puerto Rico, and Georgia. This dynamic showcase reinforced NOVOMATICâs commitment to providing leading solutions in performance and player appeal within the VGT sector. Featuring both NOVOLINEâ˘Â and Magic HD customer favorite themes, this area showed the new game mixes on DIAMOND X⢠2.32, BLACK EDITION II 3.27 & BLACK EDITION II 1.49J, V.I.P. X Lounge⢠2.32 and FUNMASTER 2.27. Specifically in Illinois, featuring the Magic HD game mix consisting of the Overlay Magic Play Lock & Spin feature, and the new Poker3â˘Â multi-hand video poker mix. NOVOLINEâ˘Â games were shown on the Black Edition II 1.49J cabinet with popular games like ULTRA BOOSTâ˘Â and Money Partyâ˘Â themes. Georgia Skill showed three new game titles in the Magic HD mix while more new titles lined the streets of the NOVOMATIC booth.
Advancements in Sports Betting and Casino Management
In addition to its product line, NOVOMATIC showed their cutting-edge sports betting kiosks including the ActionBook⢠Edge 1.43J, and ActionBook⢠Plus 2.27 models. With advanced graphics and rapid processing capabilities, these kiosks offer operators unmatched flexibility and performance. The premiere of the award-winning NOVOVISIONâ˘Â casino management system was another highlight, leveraging biometric technology for enhanced player recognition and streamlined operations. Already acknowledged as a âBest CMS/Software Productâ at the European Casino Awards, this system generated significant buzz regarding its potential to revolutionize the gaming landscape.
Industry Recognition for Creative and Commercial Success
The combination of NOVOMATICâs innovative product launches and captivating booth design earned widespread acclaim. The company was recognized for its Street-Smart booth, praised for creativity, interactivity, and the memorable experiences it fostered. Industry experts and attendees alike hailed NOVOMATICâs presence at G2E 2024 as one of the most impactful.
Alexander Merwald, CEO at NOVOMATIC Americas, stated, “G2E 2024 was an incredible success for NOVOMATIC. We were proud to showcase the V.I.P. X⢠cabinet series â Our ‘Street Games, Street Smart’ focus resonated strongly, as we demonstrated how our tailored solutions meet the real-world needs of both casino and VGT operators. The response from customers reaffirmed NOVOMATIC’s position as a leader in delivering innovation, performance, and market-specific strategies for North America.”
Thomas Schmalzer, VP of Global Sales, and Product Management at NOVOMATIC AG, added, “The product diversity and innovation showcased at G2E 2024 have been enthusiastically received by both operators and players. Our V.I.P. X⢠series and extensive range of progressives reflect our unwavering commitment to delivering premium solutions to the global market.”
With new partnerships established and product placements secured at G2E 2024, NOVOMATIC is primed to expand its market presence across North America. The success at this yearâs expo signifies a vital step forward in the companyâs mission to set the standard for gaming entertainment.
Gambling in the USA
Century Casinos Announces Opening Date for New Land-Based Century Casino & Hotel Caruthersville, MO
Century Casinos Inc. announced that its new land-based casino and hotel in Caruthersville, Missouri will open on November 1, 2024.
This news follows the Missouri Gaming Commissionâs approval to transfer the Century Casino & Hotel Caruthersville gaming license from a temporary pavilion to the new land-based location.
The new Century Casino & Hotel Caruthersville will have 599 slot machines and nine live table games, a 50% increase in gaming positions compared with the temporary location. The number of hotel rooms will double to 74. The construction of this new land-based casino and hotel started in December 2022 and will be finalized on time and on budget with an estimated project cost of $51.9 million, which has been funded by VICI Properties Inc. (VICI). VICI will own the real estate improvements associated with the Caruthersville project, which will become part of the Companyâs triple net master lease agreement with subsidiaries of VICI. Annual rent under the lease will increase by approximately $4.2 million.
The opening of the new land-based casino will be celebrated with a ribbon-cutting event at 11:30 a.m. Central Time on Friday, November 1, and a flurry of activities over the opening weekend.
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