Gaming Industry News Weekly Recap – Week of February 8
The AmericasScientific Games CEO and President Barry Cottle has been rewarded with a new contract. Cottle is set to stay on until May 2024 after his current contract was set to expire later this year; NASCAR driver Denny Hamlin is the bookies favourite to take out the 2021 edition of the Daytona 500. Hamlin won the big race twice and is hoping to become the first driver to score a three-peat at the iconic event; Wynn Resorts is hoping to raise $5.5 million in a public stock sale. The operator has offered up to 6.32 million shares to potential investors; Former president Donald Trump continues to take a beating in his impeachment trial. Bookmakers think that Trump will be safe again from impeachment with Republicans unlikely to join forces with the Democrats; Caesars Entertainment is planning on ditching the iconic Planet Hollywood Casino on the Vegas Strip. Rumors continue that impending employee layoffs mean a sale is imminent later this year; Texas sports teams have joined forces to protest the state’s anti-gambling agenda. The Mavericks, Texas Rangers and Dallas Cowboys are tipped to back the efforts of legislators to introduce online gambling to the state; Wynn Resorts continued its effort to get its piece of the U.S. sports betting market. The state of Tennessee has given conditional approval for the operator to allow sports gambling through WynnBET.Europe The new Commission for Regulation of Gambling and Lotteries (CRGL) in Ukraine continues to fine tune regulations. The new regulator has rejected 15 license applications leaving operators in a state of confusion; English Premier League club Southampton FC has tapped into its existing relationship with a crypto sportsbook to expand its operations. Southampton has signed on with Sportsbet.io, which is owned by the Coingaming Group; 5Dimes has been awarded an Isle of Man gaming license. Regulators signed off on the application this month paving the way for the operator to launch sports betting and casino products in local markets;Asia and Australia Crown Resorts has again been forced to defend its questionable policies after the apprehension of suspected Triad boss Chung Chak “John” Lee was apprehended. Its alleged that Lee laundered millions of dollars through Crown Resorts casinos in Australia; The Philippines House of Representatives are trying to fix their online gambling taxation issue. The House voted in favour of increasing tax revenue from the Philippine Offshore Gambling Operators (POGOs); Hong Kong authorities continue to crack down on illegal gambling. 81 people were arrested by local police in connection to Triad run illegal gambling shops; The Bergin inquiry in Australia has deemed Crown Resorts “unsuitable” to hold a casino license. The news was a body blow to Crown’s latest Sydney Resort project; Philippines Amusement and Gaming Corporation (PAGCOR) is turning to creative solutions to get people back to the poker table. PAGOR has increased the number of players allowed at poker tables in a bid to boost revenues; Imperial Pacific International continues to struggle. The operator faces multiple legal battles as it has admitted it can’t afford to pay its workforce; Scientific Games has lost a patent battle in Macau. The top court in Macau has determined that the patent request is no good as it lacks creativity; Crown Resorts CEO Ken Barton has stepped down from his post. Barton had been under pressure to fall on his sword following the findings from the Bergin inquiry.
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