Philadelphia to welcome $600M Live! Casino & Hotel | Amendment allows for increased betting limits in Colo. casinos | Las Vegas predicting return of convention business in 2nd half of year
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.
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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.
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.
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.
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.
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.
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.
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.
