Posts by Chris Sieroty
KonekTV on the move helping books with wagering info
As of December 2019, sports betting is regulated in 16 U.S. states, with enabling laws passed in another four states and legislation to authorize wagering on games pending in three other states. The rapid legalization of sports betting since the U.S. Supreme Court overturned the federal ban in May 2018, has led to several mergers […]
Eldorado, Caesars await merger approval
While the coronavirus is keeping the doors to casinos across the country closed, it’s not stopping gaming companies from doing business. Eldorado Resorts and Caesars Entertainment have sold three casinos at a discounted rate as the two companies seek approval from state and federal regulators for their $17.3 billion merger. The deals with Twin River […]
Nevada revenues decline in March
The Nevada Gaming Control Board reported Wednesday that the state’s licensed casinos won $618.12 million in March, a 39.57 percent decline compared to the same month a year ago. The closure of the state’s casino business on March 17 to stem the spread of the coronavirus pandemic has negatively impacted win totals for the fiscal […]
REITs juggle to stay afloat during crisis
Real estate investment trusts (REITs) have become a prominent operating structure in the gaming industry in recent years, as more than five dozen regional casinos are now owned by REITs. But the coronavirus outbreak has forced them to withdraw their 2020 earnings guidance. The first REIT was formed by Penn National Gaming, which spun off […]
Paycheck protection program help for casinos?
After complaints from industry lobbyists and lawmakers in Congress, the Small Business Administration has revised a controversial rule that blocked small gaming companies from applying for federal loans to make payroll while their companies are closed due to the coronavirus outbreak. The SBA Tuesday issued revised interim regulatory guidelines that allow small businesses that derive […]
Casino industry hopeful stimulus package helps
The U.S. House of Representatives was set to approve Friday a massive stimulus package to help businesses and employees furloughed or laid off by the spread of the coronavirus pandemic. The vote comes after the Senate late Wednesday passed a $2 trillion coronavirus bill, which is the largest economic intervention in U.S. history. Check Out […]
