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House of Cards® Gaming Report for the Week of June 17, 2019

A great team - House of Cards® and Amazon Alexa!

 

This week’s stories include new district being created in Atlantic City, two bettors suing Pennsylvania casino and VHS store front for illegal sportsbook.

Have any news or tips regarding casinos, gaming or legislation? Send us an email at newsroom@houseofcardsradio.com and follow House of Cards® on twitter at @hocradio!

Atop Mountain, Under Cap, Korea's Only Casino For Koreans Faces Uphill Fight by Muhammad Cohen (@MuhammadCohen)

Management at Kangwon Land, the only casino in Korea you can enter without a foreign passport, has a mandate to limit its gaming revenue. The 51% government owned casino operates under a revenue cap, and in recent years has taken active measures to reduce its take from gaming tables and slot machines. But if you look beyond the revenue cap, Kangwon Land shares key traits with other casinos in Asia.

Fear of gaming disorders lies behind government efforts to limit casino gambling among Korean citizens. Of the country’s 17 casinos, 16 are for foreigners only, though Koreans who can produce an overseas passport can also play. As the nation’s only casino that welcomes all Koreans as well as foreigners, Kangwon Land revenue–US$1.2 billion last year–exceeds that of Korea’s other casinos combined.

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House of Cards® - Ep. 595

 

This week Chris Buddy, Director of the documentary, Inside The Edge: A Professional Blackjack Adventure. Then, table game inventor Angel Espino talks about his latest game Monarchy Baccarat.

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YONKERS, AQUEDUCT, MEADOWLANDS: WHO GETS THE NEXT CASINO LICENSE? BY JOHN BRENNAN

Yonkers Raceway and Aqueduct could wind up as full-fledged casinos before such a facility winds up at a North Jersey site such as the Meadowlands, panelists at the East Coast Gaming Congress in Atlantic City suggested on Thursday.

Phil Juliano, chief marketing officer for the Rhode Island-based Twin River Management Group and a native of Atlantic City, said that once a moratorium on the addition of up to three new casinos in the New York City region is listed after 2022, the most practical choice for state officials would be to allow Empire City racino at Yonkers and Resorts World racino at Aqueduct to offer live-dealer table games.

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Casino Win In Maryland Falls For First Time Since November 2015 — Sports Betting To The Rescue? by Brian Pempus

Maryland’s commercial casino gaming industry is doing just fine, but signs are pointing to the market settling. In other words, the previously red-hot state-level casino market is cooling off.

MGM’s flagship East Coast casino, MGM National Harbor, opened in December 2016, leading to huge growth for the state’s casino gaming market in 2017 and into 2018. The most recent casino to open prior to MGM National Harbor was Horseshoe Casino Baltimore in August 2014.

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One Year After Launching, Hard Rock AC Is Hitting All The High Notes By Bill Gelman

June 28 is going to be a very big day in Hard Rock Atlantic City history.

Besides marking its one-year anniversary, the property is keeping up with the other Atlantic City casinos.

The big fireworks celebration is slated for June 27 at 9:30 p.m. And just like last summer, Hard Rock and Ocean Casino Resort will be celebrating together.

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House of Cards® Gaming Report for the Week of June 10, 2019

A great team - House of Cards® and Amazon Alexa!

This week’s stories include judge rules on Wire Act, record casino fine paid and DraftKings employees at the World Series of Poker.

Have any news or tips regarding casinos, gaming or legislation? Send us an email at newsroom@houseofcardsradio.com and follow House of Cards® on twitter at @hocradio!

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Mass Movement: Macau Casino Metamorphosis Marches On by Muhammad Cohen

Instead of worrying, appreciate Macau’s unprecedented mass gaming led recovery likely unfolding over the rest of this year. The global casino capital’s transition from VIP gaming to mass market is showing its muscle, enabling first quarter Ebitda to rise even while gaming revenue fell. Beyond the numbers and stakeholder buzz at last month’s Global Gaming Expo Asia (G2E Asia) trade show and conference at Venetian Macao, crowds on the streets, casino floors and breakfast buffets announce Chinese tourists remain genuinely excited about visiting Macau despite slowing economic growth, trade tensions and expiring casino concessions.

Macau’s casino revenue rose 1.8% in May from a year earlier to 25.95 billion Macau patacas (MOP; US$3.24 billion), boosted by the May 1 Labor Day triggering a weeklong holiday. It’s just the second month in 2019 when gaming revenue grew, the other February, boosted by Chinese new year. Mass revenue in May grew in the low teens, VIP revenue declined 11-12% and VIP volume, or roll, fell in the high teens, JPMorgan analysts DS Kim and Christopher Tang estimate. For the year through May, gaming revenue decreased 1.6%.

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WIND CREEK CLOSES ON SANDS CASINO DEAL, STILL MULLING SPORTS BETTING OPPORTUNITY BY BRIAN PEMPUS

One of Pennsylvania’s top casinos officially has a new owner.

On Monday, Wind Creek Hospitality, an authority of the Poarch Band of Creek Indians of Alabama, announced that it closed on its $1.3 billion purchase of Sands Bethlehem in Pennsylvania. The property will be rebranded as Wind Creek Bethlehem. WCH also acquired the 150k-square-foot retail mall and the property’s multi-purpose event center, along with the 282-room hotel.

WCH funded the acquisition with a combination of existing cash on its balance sheet and new debt financing. WCH plans to invest $340 mm into the property “over time,” including a new 300-room hotel adjacent to the casino, among other amenities.

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