New York Online Sportsbooks Get Off to a Flying Start

Online sports betting has officially launched in the state of New York. Starting Saturday, January 8, 2022, New Yorkers have the luxury to bet on sports using one of the state-approved betting apps or sites.

A total of nine sportsbooks have been given the operating license, however, only four have made their debut on day 1.

The sportsbooks in question are the following:

  • BetRivers
  • Caesars
  • DraftKings
  • FanDuel Sportsbooks

For these brands, making an early launch proved to be the right choice as the sportsbooks cashed in some record-breaking amounts during the first weekend of NY mobile betting.

Great News for New York

According to data from GeoComply, betting volumes recorded in New York outshined those from other betting-friendly states. This includes two of NY’s neighboring states, New Jersey and Pennsylvania.

The total betting handle generated in New York within the first 12 hours of mobile betting is reportedly around $5.8 million. In comparison, bettors from Pennsylvania recorded a $2.3 million handle, while those in New Jersey placed a total of $2.1 million worth of bets.

The fact that New York broke the record of other states is great news for the state government. Considering that operators need to pay a 51% tax to the state, it’s expected that New York is going to gain about $500 million from tax revenue.

The money is supposed to be used to fund education, addiction-battling projects, youth sports initiatives, and so on.

BetMGM New York to Launch Next

The four NY online sportsbooks generated record amounts during the first weekend, but we could see them doing even better in the upcoming weeks. This is because the Super Bowl LVI is on the program in February, which is the most popular sports event in the US, both among fans and bettors.

Big revenue figures are expected for the other sportsbooks as well. The remaining five sportsbooks are supposed to launch before the Super Bowl, with BetMGM being the first on the list. In fact, BetMGM is set to launch its NY internet sportsbook on Monday, January 17.

The other four – Bally Bet, Wynn Interactive, PointsBet, and Resorts World – are expected to launch by the end of the month.

Grant Mahon

Grant is the self-professed casino madman and reporter that brought this eclectic team of dedicated and talented writers together from around the world to proudly build an humble empire of authentic casino news.

New York Mobile Betting to Go Live in January

New Yorkers will get to bet on Super Bowl LVI using legal NY online/mobile platforms. The state gave the green light to nine sportsbooks, with only some minor things left to be cleared before the launch.

The NFL Championship game is on the program on February 13, 2022, but New York betting sites and apps will probably go live a few weeks earlier. At least that’s according to Senator Joseph Addabbo, who suggested last week that bettors from New York will be able to make bets on the NFL Playoffs.

As per Addabbo, it’s most likely that mobile betting will kick off in New York in mid-January. He puts the launch date somewhere between the second or third week of the month.

Evolution of Sports Betting in New York State

It was 1992 when the Professional and Amateur Sports Protection Act a.k.a. PASPA came into force, effectively banning sports betting in most US States. For the next 26 years, Americans could only bet in Las Vegas, Atlantic City, and on tribal lands.

However, in 2018, PASPA’s era came to an end after Supreme Court ruled it was unconstitutional to ban sports betting on the federal level. The Court decided it’s up to each individual state to make its own decision regarding the legality of sports betting.

New York State made betting legal straight away, albeit only at land-based casinos in Upstate New York. However, when the COVID-19 pandemic hit the Empire State, its lawmakers realized that regulated sports betting could be their golden goose.

Instead of letting billions of dollars to continue hemorrhaging to offshore betting sites, they decided to regulate the NY market.

After months of analyzing the matter, New York State decided to allow nine sportsbooks to launch online betting platforms, namely:

  • DraftKings
  • FanDuel
  • BetMGM
  • Caesars Sportsbook
  • Resorts World
  • PointsBet
  • BetRivers
  • WynnBET
  • Bally Bet

All the listed sportsbooks have been given the green light by the state. They’re expected to start their sportsbook operations in January, while we could see them start accepting customers from New York as early as New Year’s Day.

Americans Just Love the Super Bowl

It’s of utmost importance for New York State that the sportsbooks go live before the Super Bowl LVI. Why? Because Super Bowl is traditionally the most-watched sports event in the United States. It’s also the #1 favorite choice for American bettors.

However, NFL betting is just one of the options New Yorkers will have before them. They will also be able to bet on other popular US sports, including the NBA, MLS, NHL, and MLS.

On top of that, they will also be allowed to bet on sports events outside the US, such as the Australian Open, which is the first major event in 2022.

Grant Mahon

Grant is the self-professed casino madman and reporter that brought this eclectic team of dedicated and talented writers together from around the world to proudly build an humble empire of authentic casino news.

Dutch to Clamp Down on 12,000 Casino Operators With Curacao Licenses

The Dutch authorities have decided to deal with online casinos carrying the Curacao gaming license, which they’ve been using to offer their services to players from numerous parts of the world.

Curacao is a Caribbean Island that’s a constituent country of the Kingdom of the Netherlands. Such, the island has a degree of autonomy, which is the reason why its government has been able to issue online gaming licenses on its own accord.

According to the Dutch, however, Curacao’s online regime has been nothing short of controversial. With a Curacao operating license, online casinos and sportsbooks have been able to do business in unregulated markets as if they had a local license in each country/territory they’ve been operating.

12,000 Online Casinos are On the Dutch Radar

The Dutch lawmakers estimate that there are about 12,000 online gaming sites that have a Curacao license. This number was firstly suggested by a Dutch investigative journalism platform Follow The Money (FTM).

According to FTM, the 12k Curacao casinos account for nearly 40% of the world’s unregulated gaming market.

“Curaçao has this position because of its low tax rates, good internet cables, and server warehouses,” an FTM spokesperson said.

The main selling point of the Curacao gaming license has been the fact that it’s easy to get it. It doesn’t cost much and it’s possible to get it even if your business isn’t physically located on the island. This made Curacao a paradise for start-up businesses in the world of online gaming.

However, the fact that it’s easy to get the license has tarnished its reputation. The thing is that over the years many shady operators were given this license. Some of them stole/withdrew money from their players, leaked their private data, and so on.

As a result, many countries around the world decided to prohibit Curacao casinos from operating in their region. The United Kingdom is probably the best example. Another country that might follow the UK’s steps is the Netherlands.

Dutch Gaming Authorities vs. Curacao

The Dutch want to clamp down on Curacao’s gaming industry, citing it as too irresponsible. Still, their motivations might not be as selfless as they might seem at first. The offensive against Curacao casinos started at the same time as the Dutch government decided to regulate the country’s online gambling market.

Once the whole process is finished, only casino/sportsbook sites with a Dutch license will be permitted to do business in the Netherlands. Those platforms with a Curacao license will be banished.

However, the Dutch plan does not end with banning Curacao casinos to operate in their country. They are also putting pressure on their Caribbean dependency to reform their gaming laws. The Dutch are willing to provide Curacao with COVID aid only if the island deals with its casino licenses.

All this, however, doesn’t mean all Curacao casinos and sportsbooks will lose their license. On the contrary, if the Dutch make their plan come true, Curacao will have to revoke the licenses of shady operators. Operators that fulfill an updated list of conditions would be allowed to keep their license.

Grant Mahon

Grant is the self-professed casino madman and reporter that brought this eclectic team of dedicated and talented writers together from around the world to proudly build an humble empire of authentic casino news.

Sports Betting Gets the Green Light from North Dakota

North Dakota has officially joined a long list of states in which sports betting is legal. There are now 29 states where this activity is legal, while a few more are currently working on legalization. On top of that, betting is also permitted in the District of Columbia.

Starting December 1, North Dakotan bettors will be able to place sports wagers at a tribal casino located a few miles off the state border with South Dakota. The casino in question is Dakota Magic Casino (DMC) in Hankinson.

Betting at Dakota Magic Casino

Dakota Magic Casino is the only venue in North Dakota in which people will be able to place sports wagers. Owned and operated by the Dakota Nation Gaming Enterprise, the casino is currently working on setting up a special sportsbook room within the venue.

The plan is to create a Vegas-style lounge with walls covered in TVs where the patrons will be able to watch live coverage of popular sports events. The sportsbook is also supposed to feature a bar, with drinks and a limited food menu.

The sportsbook is meant to open in time for the Super Bowl LVI. In the meantime, bettors will be able to place their best at a kiosk on the casino floor. Mobile wagering remains unregulated in this state, meaning that the sportsbook kiosk at Dakota Magic Casino will remain the only place in the Peace Garden State for a while.

What About Betting in South Dakota?

Dakota Magic Casino is situated in the southeastern corner of the state. It’s relatively close to Minnesota, whose bettors are expected to swarm to the sportsbook in the following months as this activity remains illegal in their state.

The same, however, isn’t the case with South Dakota, a state whose border is also fairly close to the casino. This state is betting-friendly since last summer. Its lawmakers made betting legal in July, while first sportsbooks launched in September in five casinos in Deadwood, a city on the outskirts of Black Hills National Forest, close to the border with Wyoming.

Making betting legal proved to be a lucrative decision for the state. The Deadwood casinos, for instance, reported a 20% revenue increase only a month after sports betting launched in the state. Something similar is expected to happen in the state’s northern neighbor as well.

Grant Mahon

Grant is the self-professed casino madman and reporter that brought this eclectic team of dedicated and talented writers together from around the world to proudly build an humble empire of authentic casino news.

Dan Bilzerian Challenges a Billionaire to a $100M Heads-Up Poker Match

Social media star turned poker player Dan Bilzerian is planning to set up the biggest Heads-up poker match in the history of the game. The match is supposed to have $100 million at stake. Of course, only if his opponent agrees to the conditions.

Dan Bilzerian’s opponent is supposed to be Alec Gores, an Israeli-American entrepreneur whose worth is estimated to be about $2.8 billion.

As per Bilzerian, the match would be a Pay-Per-View event, with each player putting $50 million on the table.

Old Rivals to Get Back to the Poker Table

Dan Bilzerian revealed his $100 million poker match plan while speaking to YouTuber Logan Paul in his ImPaulsive podcast. As per Bilzerian, the match wasn’t his plan, but Gores’.

The two used to play one another in poker matches organized by Molly Bloom, whose stories were later told in the movie Molly’s Game.

Bilzerian and Gores usually played Heads-up poker during those days, and the story goes that Bilzerian was more successful. In fact, the Instagram superstar claims he won about $40 million from the matches against Gores.

Now, it seems that Gores wants a payback. And he wants to play for “real money.”

How Good Poker Players Bilzerian and Gores Actually Are?

Neither player is thought of as an expert in the poker community, although both have been really passionate about the game. This goes especially for Bilzerian, who’s one of the ambassadors for GGPoker, a leading online poker platform.

The thing about Bilzerian’s poker prowess is that we don’t actually know much about it. He’s played most of his high-stake games privately. In fact, there’s no public evidence of him winning tens of millions against Gores apart from the stories found in his autobiography, The Setup.

It’s a similar case when Gores is concerned. Although it’s clear that he was involved in “Molly’s Game,” it’s not clear how much he won/lost. There are, however, some reports about Gores beating Andy Beal in a high-stakes poker match a few years ago.

If you’re not familiar with the name, Beal is a Texas-based banker who’s famous in the poker community for his books dissecting the game.

Beal’s 2005 book The Professor, the Banker, and the Suicide King: Inside the Richest Poker Game of All Time, remains one of the best-sellers of the genre.

Grant Mahon

Grant is the self-professed casino madman and reporter that brought this eclectic team of dedicated and talented writers together from around the world to proudly build an humble empire of authentic casino news.

Macau Casino Shares Plummet Following Crackdown Talks

The shares casinos doing business in the world’s biggest gambling hub have lost as much as $18 billion in a few days’ time.  The reason? Speculations regarding China’s possible crackdown on the casino industry in Macau.

The story goes that Macau’s casino licenses are going to expire in 2022, with the gaming officials reportedly planning to strengthen the licensing conditions.

Macau Planning to Make Big Changes in Casino Licensing

The chaos on the stock market broke out after Macau’s secretary of economy Lei Wai Nong held a press conference detailing the plans regarding the casino industry in the autonomous territory.

He gave notice of a consultation period of 45 days, during which nine different subjects are going to be discussed, including things like the total number of re-issued casino licenses, employee welfare, and supervision of casino operations.

This isn’t going to be the first time the Macau authorities have increased their pressure on the gaming industry. In the past, we saw them dealing with the problem of illegal lending and unregulated money transfers.

This time, however, it seems that Macau regulators are clamping down harder on the entire casino business in the territory, including those businesses that are owned by foreign companies.

Shares of Vegas-Based Companies Shed 13% in Value

Macau is the world’s biggest casino hub in terms of revenue. Even in 2020, when Macau casinos stayed closed for several months, the territory still managed to generate decent gains.

Its 41 casinos generate revenue that’s several times higher than the one created by Las Vegas casinos, for example. Speaking of Vegas, many of Macau’s casinos are owned by companies based in Sin City.

Actually, out of the six licensed casino operators in Macau, three are owned by Vegas casino companies – Sands China, Wynn Macau, and MGM China Holdings.

The bad news for those companies is that their shares have plummeted following the Macau crackdown talks. In fact, it’s reported that their shares have lost about 13% of the value, losing roughly $18 billion along the way.

The good news, however, is that fluctuations in the stock market are relatively common, albeit not so drastically. Still, it’s expected that the stocks will recover their value, especially if casino operators find some common ground with Macau regulators.

Such a scenario, actually, seems very possible, considering that the casino industry has been Macau’s golden goose for years. In fact, being the only territory in China where gambling is legal, Macau relies heavily on this industry.

That said, losing multinational casino companies due to new regulations wouldn’t do anyone good. For that reason, a fair compromise between the two parties is expected.

Grant Mahon

Grant is the self-professed casino madman and reporter that brought this eclectic team of dedicated and talented writers together from around the world to proudly build an humble empire of authentic casino news.

Single-Game Wagering Launches in Four Canadian Provinces

A new era in the Canadian gaming business has officially started on Friday when bill C-218 came into force. The bill gives the authority to individual provinces to decide for themselves which road their sports betting industry should take.

It’s similar to what happened in the US in 2018 when Supreme Court lifted the federal ban on sports betting. Since then, individual states have had the power to decide whether to ban sports betting completely, make it completely legal and regulated, or do something in-between (for example, make only certain forms of betting legal).

Pretty much the same is now the case in Canada, where four provinces have already decided to make some changes. British Columbia, Manitoba, Ontario, and Quebec have lifted the ban on single-game wagering this Friday.

Single-Game Betting Is Now Available in Canada

Up until Thursday, Canadian bettors had no (legal) way to place single-bets; instead, they could only bet parlays in provincial lotteries. However, starting Friday, August 27, single-game wagering is available in Canada, in four of its ten provinces.

Canadians living in those provinces can now go to their local lottery shops and put their money on single bets. People from two of those provinces, however, are now able to do it remotely. The thing is that British Colombia and Ontario have launched their online betting products.

In British Columbia, a sportsbook product was added to the lottery-run gaming website PlayNow.com, which has been online for more than 15 years.

Over in Ontario, the provincial lottery has launched an online sportsbook called ProLine+, where Canadians of legal age will be able to place bets – both parlays and singles.

What’s Next for Canada’s Most Populous Province?

With nearly 15 million residents and a shared border with several US states including New York, Ontario semes like a very lucrative market for literally any business.

The same is the case with online betting, which Ontarians haven’t been able to do in Canadian sportsbooks. Instead, Canadian bettors have been sending their money away in the direction of offshore betting sites.

However, that’s going to change soon, judging by what’s been going on recently. Ontario’s legislators are working on making online sports betting legal. It’s still unclear what kind of model will the legislation take, but the most likely scenario is that local gaming businesses will be given an advantage.

Instead of letting the provincial lottery have a monopoly over the sports betting business, Ontario might decide to go with an open market. If this scenario plays out, 24 gaming venues currently operating in the province will be given the opportunity to apply for the license.

For that to happen, they will probably have to team up with established providers of sports betting services, as is the case in many US states already.

Another province that’s expected to follow this model is Alberta. Furthermore, in Saskatchewan, the Indian Gaming Authority is in charge of everything betting-related.

It’s rumored that they’re looking to go with a model in which tribal casinos would team up with established commercial sportsbooks (like bet365 and similar), creating new Canada-focused brands.

Grant Mahon

Grant is the self-professed casino madman and reporter that brought this eclectic team of dedicated and talented writers together from around the world to proudly build an humble empire of authentic casino news.

Single-Event Sports Betting in Canada Kicks-Off on Friday, August 27

Sports betting is legal in Canada, but placing single bets isn’t. At least, it isn’t at this moment, but that’s ends in two weeks. Friday, August 27 is the date when Canada will officially lift its single-event wagering ban.

It’s all due to Bill C-218, which Canada’s Senate passed two months ago. The bill amends the country’s Criminal Code, making some big changes in Canada’s gaming landscape. In addition to making single-event wagering legal, the bill will also pave the way to the legalization of online sports betting.

At the moment, the sportsbook business is in control of the state-owned Interprovincial Lottery Corporation, with kiosks all over the country. In addition, there are many land-based casinos, racinos, and bring-and-mortar sportsbooks where it’s legal to bet on parlays. In all those venues, single-game wagering will become legal starting August 27.

Bill C-218 in a Nutshell

Also known as the Safe and Regulated Sports Betting Act, Bill C-218 will open the door to single-event betting in land-based sportsbooks across Canada, which could generate billions of dollars for the industry.

The legalization of single-event sports betting is just one of the several changes the bill will create in Canada’s gambling landscape. Another, perhaps even more important change, is that the bill will enable individual Canadian provinces to decide the legal status of online betting for themselves.

At the moment, this activity falls into a gray area, meaning that it’s neither legal nor illegal for Canadians to bet on the internet. Online betting is not a crime in this country and many online casinos and sportsbooks keep their virtual doors open to the players based in this country.

However, as it’s an unregulated industry, online betting isn’t controlled by any governmental body. In layman’s terms, this means that Canada can’t help you if you get scammed by a shady online betting site.

The good news is that there are several provinces currently working on making this gaming activity regulated. If, or better say when, they do it, only those operators with a local license will be able to operate.

What the Future Holds for Online Betting in Canada?

With Canada’s lawmakers passing Bill C-218, it’s now up to each of the 10 Canadian provinces to decide for themselves whether online sports betting should be legal or illegal. Reports suggest that there are two provinces that will almost certainly give the green light to internet sportsbooks. Those are Ontario and British Columbia.

Being the most populous province in Canada, Ontario has every right to hope for a big revenue once online betting is regulated. It’s estimated that Ontario is hemorrhaging hundreds of millions of dollars to offshore sportsbooks every year, the reason being that that’s the only way bettors from this province can enjoy their hobby – there are no provincial lotteries in Ontario.

Provincial lotteries exist in British Columbia, which is another state that’s reportedly every open to the prospect of legalized online betting. The reason behind BC’s positive attitude probably lies in the fact that the province is generating a lot of tax money through this industry.

Grant Mahon

Grant is the self-professed casino madman and reporter that brought this eclectic team of dedicated and talented writers together from around the world to proudly build an humble empire of authentic casino news.

20 Million Americans Expected to Bet on the Olympics

The 2020 Summer Olympics starts today in Tokyo, where more than 14,000 athletes from more than 200 nations will compete in 35 different sports. Being the biggest sports event of the year, the Olympics are expected to attract hundreds of millions of viewers all around the world.

The Games are expected to be particularly popular in the US, where all the major sports competitions are currently on pause before the new season commences. Apart from sports fans, this year’s Olympics are probably going to be followed by a record number of US bettors.

As per the American Gaming Association (AGA), more than 20 million Americans are going to place at least one bet on the 2020 Olympics.

American Bettors Love the Olympics

The AGE wanted to know about the love American gamblers have for the Olympic Games. The association contracted a polling agency a few weeks ago called Morning Consult, which ran a survey on 2,200 adults from the United States.

The poll showed that about 8% of the respondents are planning to place a sports bet on an event in the Tokyo Olympics. Knowing that there are about 252 million people living in the United States in 2021, the calculation is that 20.1 million Americans are likely to make some Olympics bets this summer.

Among those who took part in the Morning Consult poll, 47% stated that they’re planning to make wagers among friends. Forty-three percent of the respondents said they’re going to make their bets at online sportsbooks, while 16% want to do it in person at one of the land-based sportsbooks.

Knowing that sports betting (online and retail) is legal and regulated only in a handful of states in the US, many bettors are planning to make their wagers offshore. The research has suggested that about 13% of American bettors are going to bet on the Olympics either via offshore betting sites or through an illegal bookmaker.

Olympics Bets Popular in the US

The Morning Consult survey showed that the Olympic sport of choice of American bettors is basketball. About 45% of the bettors will make at least one bet on basketball. No surprise there, as Team US is a heavy favorite to win the gold medal.

With Kevin Durant, Damian Lillard, Jayson Tatum, and other superstars, the dream team led by Greg Popovich is a heavy favorite at -769.

The next sport on the list is soccer, with 34% of the bettors planning to bet on this sport. The USWNT is expected to do very well in the tournament, while the men’s team is not taking part in this year’s Games.

Among those respondents who said they’re planning to get involved with Olympics betting, 28% will focus on gymnastics, while another 27% will go with track and field and swimming.

Baseball is also expected to be on the radar of the US sports bettors considering that the Tokyo Olympics will be the first Games to feature this sport since 2008. Another reason is that Team US is favored to win gold.

In fact, the US is the nation expected to win the most gold medals in Tokyo, with the odds of -1200.

Grant Mahon

Grant is the self-professed casino madman and reporter that brought this eclectic team of dedicated and talented writers together from around the world to proudly build an humble empire of authentic casino news.

Survey Shows New Jersey Voters are Against College Football Betting

New Jersey is the state that brought sports betting back to America. The state representatives were the ones to take the betting ban to Supreme Court, which eventually ruled it was unconstitutional. As a result, now every US state has the right to decide for itself whether and what kind of betting activities should be legal.

At the moment, sports betting is legal in the Garden State, both in land-based casinos and in online sportsbooks. However, New Jersey bettors aren’t allowed to bet on anything they want. For example, betting on NCAA games is still prohibited.

However, the NJ lawmakers are thinking about changing that. In fact, they’ve already proposed an amendment to the state constitution that would make college sports betting legal. However, it seems that the public is against it. According to the results of a survey published earlier this week, there’s little support for such a move among New Jersey voters.

Poll Finds New Jerseyans are Against College Betting

Fairleigh Dickinson University published the results of its poll on Tuesday, showing that only just one-third of the respondents were in favor of college sports betting. Furthermore, almost 50% of respondents said they were against the new betting bill.

The survey was conducted over the course of seven days in July, with 803 respondents taking part. All of the persons surveyed are registered voters, with the residence in New Jersey.

The reason cited as the main factor for being against the legalization of NCAA sports betting is that it could ruin the integrity of the game, potentially even leading to match-fixing.

However, the proponents of the legalization are adamant that the exact opposite is the case. Their claim is that the fact that college betting is outlawed doesn’t mean it doesn’t happen at all.

The argument is that by making betting legal, the state would have full control of what’s going on. Working together with bookmakers, the state officials would be able to figure out if something fishy is going on.

New Jersey voters will go to the polls on November 2 to make the final decision on the issue. If the bill gets approved, bettors will be able to place bets on college events in sportsbooks based in this state. So far, that hasn’t been possible, although bettors have been able to find different ways to do so. Offshore online betting, for example, has been one of those ways.

College Sports Betting Only Possible Offshore

Sports betting is going through a revival in the United States. The number of betting-friendly states keeps growing. Further, a number of sportsbook brands have made their entrance in the mainstream. For example, Caesars is now the official sponsor of the NFL.

However, the world of college sports still keeps itself distant from betting. Still, despite the fact that there are no sportsbooks in New Jersey where it’s possible to bet on in-state college games, it doesn’t’ stop bettors from betting. Their solution is to place their wagers in online casinos based offshore.

This way, huge amounts of money are pouring away from the United States, which is the primary motive behind the efforts to legalize betting.

Grant Mahon

Grant is the self-professed casino madman and reporter that brought this eclectic team of dedicated and talented writers together from around the world to proudly build an humble empire of authentic casino news.

$4.3 Billion-Worth Resorts World Opens on Las Vegas Strip

After 5 years and $4.3 billion spent on its construction, Resorts World Las Vegas is finally here! The most expensive resort in Nevada’s history had its grand opening on Thursday, June 24.

With 3,500 hotel rooms, 1,400 slots, and almost 120 table games, the 66-story resort is on the good road to becoming the #1 entertainment hub in Las Vegas. Apart from being huge, the resort is also situated in a premier location – on the Las Vegas Strip.

The complex has a number of high-end restaurants, bars, shops, and boutiques. For instance, there’s the Kardashian Kloset, a boutique that sells clothes previously worn by the members of reality TV’s royal family. There’s also a sexual wellness shop called Pepper, which employs licensed sexologists.

On top of everything, Resorts World Las Vegas is planning to provide top-level fun to its visitors, something that’s ensured through signing such superstars as Katy Perry, Celine Dion, and Carrie Underwood as its headliner musical acts.

A few days ago, visitors had the opportunity to get a glimpse of what expects them in the future. The 66-story complex opened its doors with a spectacular grand opening.

Resorts World Grand Opening Was Really Grand

Resorts World Las Vegas let the crowd in at 11 pm on Thursday for the first time in its history. Judging by what we saw that evening, this seems to be the beginning of something beautiful.

Among thousands of attendees, the Resorts World grand opening saw many celebrities, as well as some influential figures from the world of politics. Nevada Gov. Steve Sisolak was one of the dignitaries who held a speech at the grand opening.

“We’re getting better. We’re not finished yet, but we’re getting better, and we’ve got this magnificent property to propel us forward,” Sisolak said in a speech Thursday.

The opening of a new luxury resort has certainly been received as good news among Nevadans. It comes at the right moment for the state that suffered heavily in 2020 due to the COVID-19 pandemic. Nevada, and especially Las Vegas, belong to states/cities that rely on tourism as their prime source of revenue.

The First New Resort to Open on the Strip in 11 Years

The Las Vegas Strip had to wait 11 years for a new property to pop up. And it popped up in style! The most expensive resort in the city’s history has finally opened its doors. Located at the northwest end of the boulevard, the property is surrounded by several iconic Las Vegas buildings.

Circus Circus is just north of the new resort, Encore and Wynn are located a few hundred yards to the south. Trump International Hotel Las Vegas is also nearby, so is The Venetian. The Mirage, Flamingo, and Caesars Palace are also in its vicinity.

Advertised as a luxury resort, Resorts World Las Vegas hundreds of high-end rooms on offer, but also some relatively affordable ones. At the moment, it’s possible to book a standard room at $145 per night for mid-week stays.

Grant Mahon

Grant is the self-professed casino madman and reporter that brought this eclectic team of dedicated and talented writers together from around the world to proudly build an humble empire of authentic casino news.

PokerStars to Hold Summer Online Tournament in MI, NJ, and PA

The world’s largest online poker room is set to launch a summer tournament in America. Over the next two weeks, poker players from three states – Michigan, New Jersey, and Pennsylvania – will get a chance to take part in the PokerStars Summer Stacks Festival.

The tournament series starts on Saturday, June 12, and will wrap up 14 days later, on June 27. The prize pool is set at over $2.5 million, spread across more than 100 events. The main event is set to happen in the last two days of the tournament, in all three states simultaneously.

The buy-in for the main event is $100, while other tournaments come with lower price tags. There are even a couple of tournaments with free entry.

$2.5 Million in Prizes at PokerStars Summer Tournament

PokerStars Summer Stacks Festival will give away over $2.5 million in prizes to players from MI, NJ, and PA. Not every state will get an equal share of the prize pool, however.

Michigan and Pennsylvania will have a prize pool of $1 million each, while players from New Jersey will get to compete for their share of the $500,000 prize fund.

The main event is the one where the most money is to be made. The buy-in in each state is $100 for the tournament, but the prizes are not the same.

The players from Michigan will compete for $100,000 in prizes in the main event. The same goes for those in Pennsylvania, while the New Jersey main event will have a prize pool of $50,000.

The reason behind this probably lies in the fact that PokerStars is looking to promote its brand in Michigan, where it launched only in January.

When it comes to Pennsylvania, it’s where PokerStars is the only licensed online poker room. Pennsylvania seems to be the golden goose for this company, which generated $25.7 million in the last fiscal year.

Over in New Jersey, the online poker market is ruled by three companies. In addition to PokerStars, NJ players can also play poker at WSOP.com and BetMGM.

Online Poker Market Ready to Grow

The fact that the PokerStars Summer Stacks Festival will have $2.5 million in prizes suggests that there’s a lot of interest in online poker in America. The trouble is that people can play online poker only in a couple of US states.

In addition to the three states where the PokerStars summer tournament is taking place, there are three other online poker-friendly states – Nevada, Delaware, and West Virginia.

As per the current law, only three states in the US allow their players to play online poker against players from a different state. Players from NJ, NV, and DE can play poker online against each other.

The same isn’t the case with players based in MI, PA, and WV, who can only play against the players based in their own state.

The obstacle on the road of getting all the six states in a shared liquidity network is the 60 years’ old Wire Act. However, that might change real soon, as the Biden Administration might decide not to get on board with the Wire Act expansion.

Only one week is remaining for them to ask for a Supreme Court review. If they don’t do that, it will signal that the new administration isn’t too keen on the Wire Act.

As a result, the state governments of MI, PA, and WV could decide to join the other three in a shared poker liquidity network. From there, the sky is the limit for the online poker business in the US.

Grant Mahon

Grant is the self-professed casino madman and reporter that brought this eclectic team of dedicated and talented writers together from around the world to proudly build an humble empire of authentic casino news.

Resorts World Las Vegas to Launch ‘Kardashian Kloset’ Boutique

Las Vegas is on the road to complete resurrection after the COVID-19 pandemic put Sin City on its knees. Things aren’t going to be as before; they’re going to be even better! Las Vegas is getting some major additions in the form of some new exclusive hotels, such as Resorts World Las Vegas.

The $4.3 billion-worth complex is opening on June 23, ready to offer visitors a high level of entertainment. In addition, Resorts World Las Vegas’ plan to attract the crowd is to get some A-list celebs involved.

Celine Dion, Carrie Underwood, and Katy Perry are just some of the superstars who will take the stage in Resorts World Las Vegas. On top of that, the resort will also give visitors a chance to buy some Kardashian memorabilia in a retail outlet named Kardashian Kloset.

Kardashian Kloset to Sell Clothes Previously-Worn by the K Family

A day after the grand opening of Resorts World Las Vegas, Kardashian Kloset is going to start working. It’s actually a second-hand store, in which all the items were previously worn by the members of the Kardashian clan.

Kardashian Kloset isn’t meant to be necessarily a high-end store, although there are going to be some luxury items on sale. According to the store co-owner, Cici Bussey, people will get a chance to buy Atelier Versace clothes worn by Kim Kardashian for as high as $6,500.

On the other hand, the store will also offer more affordable items, such as Kim’s Lululemon leggings, which could cost as little as $40.

This isn’t the only store in Las Vegas that offers Kardashian second-hand clothes. Kardashian Khaos at The Mirrage, has been offering Kardashian-branded items, either worn or endorsed by the first family of reality TV.

A-List Celebs Going to Resorts World Las Vegas

Celine Dion is going to be the first headliner to get on the stage at Resorts World Las Vegas. The Canadian singer who holds the record for the highest-grossing residency artist in Las Vegas is starting her job in November. A month later, Carrie Underwood is getting on the stage, followed by Katy Perry.

All of the aforementioned artists will perform at the 5,000-seat Resorts World LV theatre, which is just one of many venues in the complex. In addition to music halls and discotheques, Resorts World will also have 40+ bars and restaurants.

The complex will have a total of 3,506 rooms across three hotels operated by Hilton – Las Vegas Hilton at Resorts World (1,774 rooms), Conrad Las Vegas at Resorts World (1,496), and Crockfords Las Vegas (236 rooms).

The casino floor of Resorts World Las Vegas stretches over 117,000 square feet, where visitors will get to choose from thousands of slots and table games. The complex will also have a sportsbook at Dawg House Saloon & Sportsbook.

Grant Mahon

Grant is the self-professed casino madman and reporter that brought this eclectic team of dedicated and talented writers together from around the world to proudly build an humble empire of authentic casino news.

Ohio Launches COVID-19 Vaccination Lottery

“Ohio Vax-a-Million” starts in less than two weeks! Five lucky winners will get $1 million. The conditions to take part in the lottery? Getting a jab!

On Wednesday, Ohio Governor Mike DeWine (R) announced that starting May 26, the Ohio Lottery will run its vaccination draw once a week. Adult citizens who have received at least one dose of the COVID-19 vaccine will be automatically placed in the draw.

The funding for the lottery comes from the federal COVID-19 relief packages. That’s the reason why some believe it’s a waste of money. For others, it’s a creative way to get more people interested in vaccination.

“Ohio Vax-a-Million” to Boost Vaccination

Even though vaccination started in top-gear in Ohio, the Buckeye State has seen a major drop in the number of vaccinations over the last week. Official data shows that the average number of vaccines given was over 140,000 in early April. In early May, the weekly average is slightly above 52,000.

At the moment of writing, Ohio has about 4 million people fully vaccinated. Sounds like a large number, but that accounts for only about 35% of the entire population of the state.

To get the vaccination on the fast track, Ohio Government has decided to think outside the box and offer a $1m-worth of incentives to get the jab.

Something similar is done in Kentucky, which is also struggling to get the people interested in the vaccine. Governor Andy Beshear (D) has an idea of how to solve this puzzle – Kentucky Lottery is going to give a free play in Cash Ball 225 drawing to every vaccinated citizen.

Neither Ohio nor Kentucky is doing particularly well with vaccination. In fact, both states have a vaccination rating that’s below the national average.

One state that’s doing better than most others is New Jersey. The Garden State is #6 when it comes to the percentage of the vaccinated population.

As a result, the COVID-19 pandemic is almost completely defeated in this state, which means that things can get back to normal. Even casinos can return to full capacity!

Atlantic City Casinos to Return to Full Capacity on May 19

Starting next Wednesday, things are back to normal in Atlantic City casinos. At least as close to normal as possible at this point.

As per Governor Murphy’s instructions, casinos in AC will be allowed to operate at full capacity for the first time since March 2020.

However, some anti-coronavirus rules will remain in action. Face masks, for example, remain mandatory, and the same foes for the six-foot social distancing rule.

The good news is that even those rules could end soon. New Jersey’s goal is to have at least 70% of people vaccinated by the end of the next month. What this means is that about 4.7 million people in the Garden State need to receive two jabs of Pfizer/Moderna vaccines or one shot of Johnson & Johnson.

At the moment, New Jersey has slightly over 3.26 million vaccinated residents, meaning that getting to 4.7 million in six weeks does not seem impossible.

A similar scenario is expected in Nevada, where Las Vegas has already started working on 100% reopening.

Grant Mahon

Grant is the self-professed casino madman and reporter that brought this eclectic team of dedicated and talented writers together from around the world to proudly build an humble empire of authentic casino news.

Las Vegas Getting Ready for 100% Reopening in May

Since the COVID-19 pandemic took out “sin” from Sin City, Las Vegas has been suffering heavy financial losses. However, good days area head and everyone in Nevada is preparing for 100% reopening sometime this month.

In the pre-pandemic era, Las Vegas was having 40+ million visitors per year (in 2019, 42 million visited Sin City). However, in 2020 only 19 million people visited Vegas. The same year, the city saw its unemployment rate skyrocketing from 3.9 to 34 percent.

About a year ago, all the venues in Las Vegas were shut. Since then, the city’s started reopening, although very slowly.

It all started with a 25% capacity. Then, in February, the Government of Nevada increased the percentage to 35. Finally, in March, the capacity was lifted to 50%. At the start of May, everyone’s hopeful that the next stop if 100%.

Tourists Start Flocking to Las Vegas

People have started returning to Las Vegas. Over the last couple of weeks, the city has witnessed a significant increase in arrivals from other parts of the US. Not only is this good news for the city but it’s also something that’s encouraged by the city officials.

A few days ago, the Las Vegas Convention and Visitors Authority (LVCVA) released a TV advert inviting tourists to return.

With the officials sending signs that Las Vegas is starting to open up, things are expected to come back to normal over the next couple of months. Judging by what we saw recently, such a scenario does not seem unlikely.

In March over 2.2 million people visited Las Vegas, which is a significant increase compared to only 1.5 million tourists in February.

New Resorts Open in Time for the Summer Season

Saying that things are about to get back to normal in Las Vegas might not be completely true – things are going to get even better than before the pandemic!

There is a wind of optimism coming from Sin City as several new casino resorts are getting ready to shine.

Circa Resort & Casino

One of the biggest additions to Las Vegas is Circa Resort & Casino, an adults-only establishment that is the biggest of its kind in downtown Vegas.

Virgin Hotels Las Vegas

What used to be Hard Rock Hotel is now Virgin Hotels Las Vegas, after more than $200 million were invested in the project.

The venue will feature a 60,000-square-foot gaming floor operated by Mohegan Gaming & Entertainment. What this means is that for the first time in history, Las Vegas has a tribal casino.

Resorts World Las Vegas

The most ambitious of Las Vegas’ 2021 projects is Resorts World Las Vegas, whose development cost more than $4.3 billion. It’s still not open, but that’s supposed to happen in summer.

Las Vegas Casinos on a Hiring Spree

Last year, we saw Las Vegas casinos laying off their employees at a higher rate. For instance, MGM Resorts furloughed about 40% of their 2019 workforce, reducing the number of employees from 70,000 to 42,000.

However, with Las Vegas being ready to reopen 100%, MGM is on a hiring spree. It’s expected that in the following weeks, the casino company will return back to its 2019 levels.

The same goes for all the other companies operating casino resorts in Las Vegas. Further, with new casinos opening ahead of the summer season, the city is expected to get tens of thousands of new job posts.

Grant Mahon

Grant is the self-professed casino madman and reporter that brought this eclectic team of dedicated and talented writers together from around the world to proudly build an humble empire of authentic casino news.

NFL Names Caesars Its First Casino Sponsor in History

In the past, NFL had kept itself away from anything remotely connected to gambling. However, the league has softened its anti-gambling stance after the PASPA was overridden by Supreme Court in 2018. Three years later, NFL has named Caesars its first-ever casino sponsor.

In addition to making a sponsorship deal with the casino chain, the NFL also made a pack with an online sportsbook. The website in question is DraftKings, which will be the league’s official betting partner from now on.

Caesars & DraftKings Get Rights to NFL Media

According to the deals signed between the NFL and the two gaming giants, Caesars and DraftKings will get rights to the league’s logos, marks, and data. The two companies will also be able to use the media available on NFL.com, as well as on its official mobile app.

Caesars will use the agreement to push on their online sports betting business, rather than using the deal for promoting their retail sportsbooks.

When it comes to DraftKings, the company already has a deal with the NFL, which was signed in 2019. The new deal is thought of as an extension of that agreement, which will see DraftKings getting many additional perks.

For example, the online sportsbook will be allowed to use NFL stats and present game highlights on its platform.

Caesars’ NFL Story Continues

This is the first time Caesars Entertainment has signed a contract directly with the NFL. However, the casino company has been sponsoring seven NFL teams for a while now. Those teams include:

  • Kansas City Chiefs
  • Baltimore Ravens
  • Indianapolis Colts
  • Las Vegas Raiders
  • Atlanta Falcons
  • Carolina Panthers
  • New Orleans Saints

As per Caesars’ deal with the New Orleans Saints, the team’s stadium could get a new name this year. Currently called the Mercedes-Benz Superdome, the arena is expected to bear Caesars’ name during the next NFL season.

The 2021 NFL deal is meant to cement Caesar’s reputation as America’s favorite casino operator. It’s also meant to help the company with its online sportsbook, which is currently available in three states – Nevada, New Jersey, and Pennsylvania.

Still, the company’s ambitions are much higher than that. Caesars would love to expand its online betting business to other states in the near future and the NFL deal is bound to bring them the much-needed exposure.

DraftKings Launches a Massive Marketing Offense

Same as Caesars, DraftKings is also planning to expand its online sportsbook network around the United States. The company is already considered one of the top players in the internet gaming market and it seems that things can only get better for DraftKings.

The reason is that the company has made several big-money sponsorship deals with leading sports organizations in the United States. Apart from the deal with the NFL, DraftKings also sponsors the UFC.

It also has partnership deals with WWE, who made DraftKings the official betting partner of WrestleMania 37, which took place last weekend.

The online gaming giant also sponsors the NBA franchise Detroit Pistons, MLB’s Chicago Cubs, and the Philadelphia Eagles of the NFL.

Grant Mahon

Grant is the self-professed casino madman and reporter that brought this eclectic team of dedicated and talented writers together from around the world to proudly build an humble empire of authentic casino news.

DraftKings Becomes the Official Gaming Partner of WrestleMania 37

World Wrestling Entertainment Inc., better known as WWE, has recently signed a deal with DraftKings, making it its official gaming partner.

According to the chief business officer of the Boston-based gaming company Ezra Kucharz, the deal is meant to “fuel the engagement and drama of WWE’s signature matchups and storylines, as audiences enjoy the second-screen experiences our products provide.”

DraftKings Sportsbook will not be able to offer WrestleMania betting to its users, considering that these sorts of bets are not allowed in the United States. Instead, the platform will direct wrestling fans to its free-to-play contest.

No Betting on WrestleMania 37 at DraftKings

The US gambling law prohibits betting on events whose outcome is known before the start. This way, the law keeps the integrity of competitions, while also ensuring fair play.

Considering that professional wrestling is scripted, betting on WWE events such as WrestleMania 37 would be illegal. However, it seems that betting is not the reason why Draft Kings has decided to team up with WWE.

Instead, the company’s goal is to get on the radar of as many Americans as possible. Knowing that WrestleMania’s viewing figures are super-high, it appears that the partnership deal is going to bring DraftKings exactly what they wanted.

Since making its debut in 1985, WrestleMania has been one of the most successful pay-per-view (PPV) events in the United States. Some of the milestones it’s achieved over the years include:

  • With 91,173 fans inside Pontiac Silverdome, WrestleMania was the highest-attended indoor sports event in history before losing the title to the 2010 NBA All-Star Game.
  • WrestleMania 32 holds the record for the highest attendance in the history of professional wrestling with 101,763 fans.
  • WrestleMania 28 is among the top 30 most successful PPV events in history, with 1.217 million buys.
  • Former US President Donald Trump made an appearance in WrestleMania 23.

On top of everything, Morgan Stanley analyst Thomas Allen said that it’s estimated that WEE had nearly 40 billion digital video views in 2020, making it one of the most powerful media companies in the world.

DraftKings Has Made a Similar Deal With the UFC

DraftKing’s marketing strategy of making itself visible to a wide sports-loving audience is a plan that’s already in motion. The partnership deal with WWE is not the first deal they’ve inked. In 2019, DraftKings became a partner of the NFL, while also sponsoring several teams from the top US leagues, e.g., the Philadelphia Eagles (NFL), Chicago Cubs (MLB), and Detroit Pistons (NBA).

More recently, the company did something similar with the UFC. The deal in question is meant to last at least five years, with its total value being somewhere in the ballpark of $350 million.

The DraftKings-UFC partnership seems like the best deal for the online gaming company. According to it, DraftKings is the “sportsbook and daily fantasy partner for UFC.”

Considering that MMA is a real sport, in which the outcome of the fight is not known until the fighters actually get into the octagon, nothing is stopping DraftKings Sportsbook from offering UFC betting.

More news for DraftKings Sportsbook comes from New York, where lawmakers are working hard on the legalization of online betting. If everything goes according to plan, DraftKings could go live in the Empire State in about a year.

Grant Mahon

Grant is the self-professed casino madman and reporter that brought this eclectic team of dedicated and talented writers together from around the world to proudly build an humble empire of authentic casino news.

Poll Reveals the Support for Mobile Betting in NY is at All-Time High

Earlier this week, a poll conducted by the Siena College Research Institute revealed that New Yorkers are in favor of the legalization of mobile betting.

The findings showed that 51% of the respondents would vote for lifting the ban on online sportsbooks in New York State. Eighteen percent said that have no opinion, while only 30% said they would vote against such a bill.

With more than half of surveyed people being in favor of mobile betting legalization, it seems that a new era is on the horizon. Considering that Governor Andrew Cuomo and NY lawmakers are working on a proposal, it wouldn’t be surprising if the ban was lifted before the end of the year.

What’s the Status of the New York State Gambling Bill?

At the moment of writing, New York is still one of the states where online gaming is illegal. However, land-based casinos (and sportsbooks) are permitted in the Empire State. The status quo would probably remain for years if it weren’t for COVID-19. Due to the pandemic, NY Government decided to implement a casino curfew.

For months, New York casinos weren’t allowed to operate. Although Cuomo promised to lift the casino curfew on April 5, the fact that those businesses spent months with their doors closed, a huge hole was created in the state budget.

Cuomo’s idea of fixing that hole is to lift the ban on online betting, which would serve as a nice source of revenue tax. However, Cuomo’s idea differs from the one proposed by other legislators.

Governor thinks New York should have a single state-run online sportsbook based on the lottery model. Other lawmakers believe the best option would be a free-market approach, which would enable New Yorkers to choose from several operators.

The latest news from the New York State Assembly suggest that the latter option is more likely to be accepted.

NY Assembly Adds Mobile Betting to Its 2021 Budget

On Sunday evening, the lower chamber of the NY State Assembly released its budget proposal for 2021-22. One of the parts of the plan is focused on the revenue generated from mobile betting. The fiscal projection suggests New York State could make over $180 million in 2022 from this industry.

What’s interesting is that the projections were based on the open-market model, in which there would be up to 12 mobile skins.

Each land-based casino would be allowed to apply for a license for two online skins. The cost of an operating license would be somewhere in the range of $12 million. On top of that, mobile sportsbooks would have to pay a 12% tax.

When Will Mobile Betting in NY Become a Reality?

Considering how things are going at the moment, it’s only normal to assume the NY lawmakers will come up with a mobile betting bill in a few months’ time. The next step is for the voters to approve that bill.

If they do it, the seven land-based casinos (four commercial and three tribal casinos) in New York will get the right to apply for an operating license. To do that, they will have to partner up with a software provider, which will have to fulfill a number of conditions meant to ensure fair betting, as well as privacy and security of the players.

Only when they get a license will online casinos be permitted to go live. So, when should you expect such a thing to happen?

Judging by the experiences from other states, the entire process usually takes about a year and a half. For instance, online gaming became legal in Michigan in 2019, but it wasn’t until January 22, 2021, before the first mobile sportsbooks were launched.

Grant Mahon

Grant is the self-professed casino madman and reporter that brought this eclectic team of dedicated and talented writers together from around the world to proudly build an humble empire of authentic casino news.

200+ US Casinos are Now Smoke-Free Following COVID-19 Shutdown

Dr. Brian King from the CDC has recently confirmed that more than 200 casinos around the US have returned from the COVID-19 shutdown as smoke-free facilities. King, who is the deputy director for research in the Centers for Disease Control and Prevention (CDC) Office on Smoking and Health, called this fact “a silver lining of the COVID-19 pandemic.”

However, King shouldn’t be too optimistic about it as most of those casinos are planning to return to their old ways once the coronavirus is completely out of our lives. At least that’s according to gaming historian David Schwartz, who believes smoking and gambling go hand-by-hand.

Still, the fact is that the US gaming capital Las Vegas now has more smoke-free casinos than any time before, the most notable example being Park MGM.

Park MGM Casino Leading the Way

According to the president of MGM Resorts Las Vegas Portfolio, Anton Nikodemus, there is a strong desire among non-smokers to gamble at smoke-free casinos. As a result, the company has decided to make one of its Las Vegas properties entirely smoke-free.

The casino in question is Park MGM, which has been a smoke-free zone since returning to business on September 30, 2020. When it re-opened its doors, the casino became the first property on the Las Vegas Strip where smoking is banned.

The no-smoking rule, however, was in force in other Las Vegas casinos in the past. Probably the best example is the old Silver City Casino, which banned smoking in 1991. However, gamblers did not react very well to that decision, so the ban lasted for only a couple of months.

More examples of short-lived casino smoking bans come from Pennsylvania and New Jersey. Last summer, when those two states decided to allow the casinos to return to business after the COVID-19 shutdown, one of the rules was to ensure a smoking-free environment on the premises.

The rule, however, did not last too long. One of the reasons why casinos lifted the ban as soon as the state officials allowed them is that gamblers seem to have a love affair with smoking.

Gamblers Say Yes to Smoking

Over the last couple of decades, smoking prevalence has declined sharply in the US. According to the CDC, only about 14% of Americans smoke, or roughly 34.1 million people. What this means is that a big majority of people living in the United States are non-smokers.

The data differs a lot when casino gamblers are concerned. As it turns out, a large percentage of US casino patrons are smokers. Former UNLV professor who specializes in gaming history, David Schwartz, thinks that smokers generate more revenue to the casino industry than non-smokers.

He believes that that’s the reason why most casinos are going to allow indoor smoking to return as soon as the pandemic is over. Still, casinos might come up with a different solution. Rather than banning/allowing smoking entirely, they might decide to separate the gaming floors to smoking and non-smoking ones.

Grant Mahon

Grant is the self-professed casino madman and reporter that brought this eclectic team of dedicated and talented writers together from around the world to proudly build an humble empire of authentic casino news.

Wynn Resorts Stocks Now Up for Sale at $118

Last year was “annus horribilis” for practically everyone involved with the casino business. However, some have managed to rebound in the last couple of months of 2020. One of those companies is Wynn Resorts, which closed out the last year on a relatively high note – they reported a positive adjusted property EBITDA of about $39.4 million.

The casino operator now wants to cash in on the euphoria, for which, Wynn Resorts decided to put a portion of its stocks up for public sale.  About 6.32 million Wynn Resorts stocks have been made available for purchase, which is expected to raise as much as $5.5 million.

The money collected through the sale of Wynn Resorts stocks is going to be used for “general corporate purposes.”

Wynn Stocks Traded at ~$118 on Robinhood

The timing is great for Wynn to sell its stocks. At the same time, it also seems that it’s still a good time for investors to start buying them. At the moment of writing, the price of one Wynn Resorts stock on Robinhood.com is $118.

Wynn stocks at Robinhood
Screenshot: Robinhood

The lowest price of Wynn Resorts stocks was recorded in late January. On Friday, January 29, the price for one stock was $99.53. Since then, the price has been constantly going up.

Last week, we saw the price for one stock going above $116, while this week, it went over $117 before reaching the current price on early Saturday morning.

The reason why buying Wynn Resorts stocks at $118 seems like a good business move is that the price is still way below $136.82, which was its price before the start of the COVID-19 pandemic last spring.

Wynn Stock Improvement Led by Macau Rebound

Things still aren’t in order in Las Vegas, with COVID-19 still causing troubles for the casino industry. Good days seem to be ahead as, from February 15, Nevada will ease its COVID-19 measures. As a result, casinos will be allowed to increase their capacity from 25 to 35%. Not a very big improvement but knowing that the vaccination is ongoing, the end of the crisis seems to be on the horizon.

What this means for Wynn Resorts is that their two properties on the Strip (Wynn Las Vegas and Encore) are expected to return to their full glory within a couple of months. Once that happens, millions of dollars will start pouring in the company piggy-bank, which is bound to make its stocks go up.

Until that happens, the main driving force behind Wynn Resorts will continue to be the operation in Macau. Wynn’s CEO Matt Maddox was full of praise for the company’s property in Macau, calling it “the sweet spot of our company.”

In addition, the company has big plans for its online sports betting brand WynnBET. According to Maddox, the internet operation saw its “revenues growing almost 50 percent over the last three months.” WynnBET was recently made an official sponsor of the Memphis Grizzlies in an effort to make the brand a household name among American sports fans.

Grant Mahon

Grant is the self-professed casino madman and reporter that brought this eclectic team of dedicated and talented writers together from around the world to proudly build an humble empire of authentic casino news.