January 11, 2021
Casino & Gaming SmartBrief
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Top Story
The $600 million Live! Casino & Hotel Philadelphia will open this month in the city's Stadium District, more than two years after the start of construction. The complex features a 12-story, 208-room luxury hotel along with multiple gaming, dining and entertainment offerings.
Full Story: PhillyVoice (Philadelphia) (1/6) 
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Why you need better compliance training
With a rise in sports betting and mobile gaming, convertible virtual currencies and increasing rates of financial and cybercrime, it's vital that your staff is properly trained in Title 31 and AML compliance to reduce risk to your operation. Read this white paper to learn more about how better training can lower the odds of falling victim to crime and receiving costly fines.
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Gaming Industry News
Global Market Advisors: Due to the Pandemic, Governments Look for Revenue
Get insight into those jurisdictions who are looking to close their budget by increasing revenues from gaming. GMA remains the leader in tracking market dynamics of all gaming opportunities, from development to operations, whether it be land based, online or sports betting related. Learn more.
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Innovations and Trends
Cryptocurrency payments may be future of slot machines
(Pixabay)
A patent held by International Game Technology, a London company that makes slot machines, would enable the direct transfer of Bitcoin from a gamer's casino account to an external cryptocurrency account. This type of payment option is expected to appeal in particular to younger players such as millennials, who are increasingly investing in cryptocurrency.
Full Story: BNN Bloomberg (Canada) (1/5) 
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Featured Content
Sponsored content from Expedia
Traveler Sentiment & Influences: How We Feel About Travel Now
Given the rapidly evolving state of travel around the world, it's been tough to stay informed and ahead of shifting consumer behavior and trends. That's why Expedia Group Media Solutions conducted custom research to help hospitality business leaders and travel advertisers understand and navigate shifting travel shopper behaviors and identify areas of opportunity to reach customers. Read the blog post for research highlights.
 
International Gaming
MGM Resorts International has been urged by an investment firm to sell 20% of its China business to a strategic partner. Snow Lake Capital told MGM's board the move would be a "win-win" that would enhance the company's China, Japan and Macao gaming and resort ventures.
Full Story: Reuters (1/6) 
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Sports Betting
N.Y. governor hopes to implement online sports betting
Cuomo (Andrew Burton/Getty Images)
New York Gov. Andrew Cuomo plans to propose the legalization of online sports betting in today's State of the State address in an effort to increase tax revenue. "At a time when New York faces a historic budget deficit due to the Covid-19 pandemic, the current online sports wagering structure incentivizes a large segment of New York residents to travel out of state to make online sports wagers or continue to patronize black markets," Cuomo said.
Full Story: Forbes (tiered subscription model) (1/6) 
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Tribal Gaming
In 2020, Foxwoods Resort Casino in Mashantucket, Conn., saw a 31.6% decrease in net revenue, bringing in $539.2 million as compared to $787.8 million in 2019. Mohegan Sun in Uncasville, Conn., also experienced a significant revenue drop for the year, with revenue of $715.67 million in 2020 versus $992 million in 2019 -- a roughly 28% decline.
Full Story: MassLive (Springfield, Mass.) (1/7) 
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Hospitality Trends
Locally born developer Lorenzo Doumani is making an $850 million bet that a nongaming, nonsmoking resort near the Las Vegas Strip can come up a winner. A July construction start is planned for the Majestic Las Vegas, which will feature 720 all-suite guestrooms, five restaurants, live entertainment and a lavish wellness center among other amenities.
Full Story: TravelPulse (1/7) 
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Commentary: Virtual can be hospitality's new reality
(Pixabay)
Operating remotely can work well for a hotel industry that's historically relied on face-to-face interaction, but a host of challenges must be met, a hospitality consultant writes. Among them are selection of technology and the need for greater frequency of communication as distance increases, says Bill Scanlon, president and CEO of Strategic Solution Partners.
Full Story: Hotels Magazine online (free registration) (1/6) 
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Dream big and surround yourself with brilliance ...
Peter Gabriel,
musician, singer, songwriter, record producer
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