{"id":24060,"date":"2019-05-01T09:02:22","date_gmt":"2019-05-01T17:02:22","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=24060"},"modified":"2019-05-01T09:09:59","modified_gmt":"2019-05-01T17:09:59","slug":"putting-problem-gaming-on-notice-breaking-winds","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/putting-problem-gaming-on-notice-breaking-winds\/","title":{"rendered":"Putting problem gaming on notice; Station has a hit"},"content":{"rendered":"

\u201cWhilst the vast majority of our customers enjoy our products responsibly, it is high time that the industry did more to protect its customers from potential harm.\u201d Thus spake GVC<\/strong> CEO Kenny Alexander<\/strong> in a dramatic change of policy<\/a>. Along with William Hill<\/strong>, GVC is coming out in favor of ads for gambling during \"\"sports broadcasts, where live or rerun, with the exception of horse races. (There’s always an exception for the horsey set, it would seem.) In changing their stance, GVC and William Hill are coming\u00a0into line with parliamentary momentum in the United Kingdom<\/strong>, and even support a ban on gaming logos on footballers’ jerseys. “I call on our industry peers to help us bring about an end to broadcast advertising which promotes sports-betting in the UK no matter the time of day,\u201d continued Alexander. Putting its money where its mouth is, GVC will dedicate 1% of its gross gaming receipts to problem-gambling treatment by 2022. We applaud the move.<\/p>\n

* In a move to stave off federal oversight, the U.S. gaming industry will self-police sports betting<\/a>. Already over two-dozen companies have signed onto the\u00a0Sports Wagering Integrity Monitoring Association<\/strong>. Chief Integrity \"\"Officer George Rover<\/strong> says it is modeled on a similar body in Europe<\/strong>.\u00a0\u201cIn partnership with gaming regulators and law enforcement officials, we are determined to help prevent fraudulent and manipulative behavior that could negatively affect the integrity of sporting event\u2014something that does not occur with the widespread illegal sports betting market,\u201d Rover wrote. He has already recruited MGM Resorts International<\/strong> Chief Compliance Officer Stephen Martino<\/strong> and top Caesars Entertainment<\/strong> lobbyist Jan Jones Blackhurst<\/strong>. That’s an impressive start.<\/p>\n

\"\"Speaking of Caesars\u2014and compulsive gambling\u2014a New Jersey<\/strong> court has ruled that Harrah’s Resort<\/strong> was within its rights when it extended credit to a disordered (but evidently not self-excluded) gambler, Massimo Dangelico<\/strong>. Harrah’s lent him $160,000 against a $200,000 line of credit. His checks bounced and Dangelico argued the casino should have saved him from himself<\/a> anyway. No sale. Throw in court costs and sundry expenses (resort fees?), and Dangelico is on the hook for\u00a0$188,697.31. As the court found, the\u00a0\u201crelationship [between a casino and a gambler] is built on enabling gaming, not withholding it.\u201d<\/p>\n

* Cash flow at the new-look Palms<\/strong> is less than anticipated but the revamped Palace Station<\/strong> is a hit, a palpable hit, up by at least 10% from 1Q18. Also, Station Casinos<\/strong> is seeing higher levels of locals and non-locals crossover play \"\"at its properties. Wrote JP Morgan<\/strong> analyst Joseph Greff<\/strong>, “Overall, we continue to believe that the LV locals market is on sound footing, with attractive growth for the next few years given the region\u2019s population, job, and wage growth prospects. We like [Station’s]\u00a0position in this market, a position that is bolstered as we see the company entering harvesting mode after of period of investment at Palms and Palace.”<\/p>\n

* What’s in a name? Not much<\/a> if it’s Kazuo Okada<\/strong>‘s. His namesake casino in Manila<\/strong> (mooted for rebranding<\/a>) lost $55.5 million last year, despite running at 98% occupancy. A bad year notwithstanding, “expansion of the gaming area, including the addition of a casino exclusively for VIP guests, opening more restaurants and enlarging the shopping mall in order to attract an even larger number of guests” is the order of business.<\/p>\n

* Mohegan Sun<\/strong> and Foxwoods Resort Casino<\/strong> are getting serious about their Four Winds<\/strong> joint venture. They’ve sent a $1 million check<\/a> to Hartford<\/strong> to cover regulatory costs. They’re banking on the East Windsor<\/strong> tribal casino (albeit not on tribal land) to stem three quarters of revenue losses to MGM Springfield<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

\u201cWhilst the vast majority of our customers enjoy our products responsibly, it is high time that the industry did more to protect its customers from potential harm.\u201d Thus spake GVC CEO Kenny Alexander in a dramatic change of policy. Along … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[23,244,251,166,67,22,188,53,112,245,167,248,159,192,90,74,57,17,38,252],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/24060"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/comments?post=24060"}],"version-history":[{"count":3,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/24060\/revisions"}],"predecessor-version":[{"id":24063,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/24060\/revisions\/24063"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=24060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=24060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=24060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}