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Gaming Innovation Group signs an LOI for Sportsbook with Hard Rock International

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Gaming Innovation Group signs an LOI for Sportsbook with Hard Rock InternationalReading Time: 2 minutes

 

Gaming Innovation Group Inc. (GiG) has signed a Letter of Intent with Hard Rock International (Hard Rock) for the provision of an omni-channel Sportsbook platform in the newly opened New Jersey, US market at its Hard Rock Hotel & Casino Atlantic City.

The intention of the LOI is to execute an agreement and launch the Sportsbook in New Jersey in Q4 2018.

 

For further information, please contact:
Robin Reed, CEO of GIG, robin@gig.com

Anna-Lena Åström, GIG Head of IR & Corporate Communications, anna.lena@gig.com
+356 796 998 48

About Gaming Innovation Group (GiG):
Gaming Innovation Group Inc. is a technology company providing products and services throughout the entire value chain in the iGaming industry. Founded in 2012, Gaming Innovation Group’s vision is ‘To open up iGaming and make it fair and fun for all’. Through our ecosystem of products and services, we are connecting operators, suppliers and users, to create the best iGaming experiences in the world. Gaming Innovation Group operates out of state-of-the-art offices in St George’s Bay, Malta and is listed on the Oslo Stock Exchange under the ticker symbol GIG.

For more information about GiG and our services, please visit: www.gig.com

About Hard Rock International:
With venues in 74 countries, including 185 cafes, 27 hotels and 12 casinos, Hard Rock International (HRI) is one of the most globally recognized companies. Beginning with an Eric Clapton guitar, Hard Rock owns the world’s most valuable collection of music memorabilia, which is displayed at its locations around the globe. Hard Rock is also known for its collectible fashion and music-related merchandise, Hard Rock Live performance venues and an award-winning website. HRI owns the global trademark for all Hard Rock brands. The company owns, operates and franchises Cafes in iconic cities including London, New York, San Francisco, Sydney and Dubai. HRI also owns, licenses and/or manages hotel/casino properties worldwide. Destinations include the company’s two most successful Hotel and Casino properties in Tampa and Hollywood, FL., both owned and operated by HRI parent company The Seminole Tribe of Florida, as well as other exciting locations including Atlantic City, Bali, Cancun, Daytona Beach, Ibiza, Orlando, Shenzhen and San Diego. Upcoming new Hard Rock Cafe locations include, Maldives, Manila, Malaga, Georgetown, Fortaleza, Rosario and Chengdu. New Hard Rock Hotel, Casino or Hotel & Casino projects include Berlin, Budapest, DesaruCoast, Dublin, London, Los Cabos, Madrid, Maldives, New York City, Ottawa, Sacramento, Dalian and Haikou in China. In 2018, Hard Rock International was recognized as a Forbes Magazine Top Employer for Women and Land Operator of the Year at the Global Gaming Awards.

Source: Latest News at European Gaming Media

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UNITE HERE Warns About Potential Gaming Tax Revenue Declines, Job Cuts, and Other Problems of Proposed Merger of Eldorado Resorts and Caesars Entertainment

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Eldorado Resorts and Caesars Entertainment jointly announced a proposed transaction to combine the two corporations, pending shareholder and regulatory approvals. The deal is to be based on $7.2 billion of new debt financing and $500 million of cuts and other “synergies.” UNITE HERE, the hospitality workers union, represents approximately 25,000 workers at Caesars and Eldorado properties.

UNITE HERE-represented union casinos accounted for approximately 68% of the pro forma $30 billion combined Caesars-Eldorado EBITDAR in 2018. These 22 UNITE HERE union casinos altogether include over 50% of the combined company’s total hotel rooms, over 30% of its total slots, and nearly 40% of its total table games. UNITE HERE locals are currently in contract negotiations with Eldorado at Circus Circus Reno and Isle Pompano Beach. Contracts at six additional UNITE HERE union casinos in the combined Caesars and Eldorado portfolio will expire in 2020, including four properties in Atlantic City.

UNITE HERE issued the following statement from President D. Taylor:

“UNITE HERE has had a positive relationship with Caesars Entertainment over the years, and 25,000 union members have been excited to help the company reinvest and rebuild as it recovers from the disastrous leveraged buyout led by Apollo and TPG. It is in this context that we approach the proposed sale of the company with great concern.

Yesterday, Eldorado announced cost-savings of $500 million in the first year of the combined company. Where are they going to cut? We will not stand by idly if the proposed Caesars-Eldorado transaction will lead to significant job losses, worse wages and benefits for our members, and lower state gaming tax receipts in the many communities where members we represent work and live. Casinos operating under privileged licenses are meant to create significant benefits for host communities, including family-sustaining jobs and local government funding based on gaming taxes.

We will support changes at Caesars that preserve the company’s long-term financial health and provide a sustainable path to good jobs in vibrant gaming markets across the country.”

2018, 7,700 UNITE HERE members went on a multi-city strike at Marriott hotels across the United States and won historic settlements in Boston, Detroit, San Francisco, San Jose, Oakland, San Diego, and Hawaii.

UNITE HERE represents over 300,000 hospitality workers in gaming, hotel, and food service industries in North America and provides analysis from the perspective of those who work in these industries.

 

Source: UNITE HERE

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: UNITE HERE Warns About Potential Gaming Tax Revenue Declines, Job Cuts, and Other Problems of Proposed Merger of Eldorado Resorts and Caesars Entertainment

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UK NHS to Open Gambling Clinic for Children

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The UK’s NHS is going to open its first gambling clinic for children.

According to the Gambling Commission, there are 55,000 children classed as having a gambling problem in Britain. The Commission also found that a total of 450,000 are gambling regularly.

“This action shows just how seriously the NHS takes the threat of gambling addiction, even in young people. The links between problem gambling and stress, depression and mental health problems are growing and there are too many stories of lives lost and families destroyed,” Simon Stevens, the NHS England chief executive said.

The move was welcomed by Carolyn Harris, the Labour MP for Swansea East, who said attitudes around problem gambling was at last shifting. “For too long the industry has dismissed problem gambling but now is the time for polluters to pay,” she said.

“The clinic will open as part of a new network of services for addicts being rolled out as part of the NHS Long Term Plan. Specialist face-to-face NHS treatment for gambling addiction has only been available in London but is being made available across the country as part of the new strategy,” NHS England said.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: UK NHS to Open Gambling Clinic for Children

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Mobile Betting Bill Fails to Progress Through New York Assembly

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Senator Joseph Addabbo’s mobile betting bill has failed to progress through the New York Assembly. The legislative session saw S17 fail to progress beyond the Assembly Standing Committee on Codes.

Addabbo tweeted that he saw no clear reason why the state could not implement mobile sports betting in 2019. Failure to do so would see the state miss out on around $75m in revenue, funding for education, and both job creation and retention.

“NY will be stuck like a disabled car on the shoulder, while we allow an illegal sports betting business in our state thrive and idly watch other neighboring states pass us up with enormous revenue gains from mobile sports betting,” Addabbo said.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Mobile Betting Bill Fails to Progress Through New York Assembly

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