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Borgata Hotel Casino & Spa Announces Construction Of New Sports Book

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Borgata Hotel Casino & Spa Wins 'Property Of The Year' Honors At 2018 Global Gaming ExpoReading Time: 2 minutes

 

Atlantic City’s market-leading resort will invest over $11 million into the addition of a new bar and sports wagering experience

Borgata Hotel Casino & Spa announced today it will begin construction of a new venue that will integrate an entertaining bar experience with sports wagering. Adding more than $11 million in development to Borgata’s resort, the destination bar will make its anticipated debut this summer.

“Since Borgata arrived in the Atlantic City market more than 15 years ago, we have maintained a steadfast dedication to property growth and development, with our new concept exemplifying this objective,” said Marcus Glover, President & Chief Operating Officer for Borgata Hotel Casino & Spa. “We are proud to have been at the forefront of legalized sports betting in New Jersey and look forward to advancing our product with an innovative gaming and entertainment experience for our guests to enjoy.”

Borgata made history last June when it became the first Atlantic City casino to accept a legal sports wager under new sports betting regulations in New Jersey. The historic wager came just three days after NJ Governor Phil Murphy signed a bill passed unanimously by the State Legislature, creating a regulated environment where licensed casinos may establish legal sports books.

Since accepting that first inaugural bet, Borgata launched the playMGM NJ Sports mobile sports-betting app in New Jersey. In partnership with GVC Holdings, the playMGM NJ Sports app features a full range of U.S. and selected international sports with customers able to sign-up, deposit and withdraw cash directly from their mobile devices from any location in New Jersey.

As a part of MGM Resorts International, Borgata brings the wealth of that company’s sports book experience to its operation. MGM Resorts International possesses more than 25 years of sports wagering operations experience in Nevada, where the company’s resorts combine to write more than 4 million sports wagers each year with annual handle in excess of $1 billion. Strategic relationships like those announced with the NBA and WNBANHLMLB, as well as the New York Jets, firmly establish MGM Resorts and playMGM as the market leader in partnerships with major professional sports leagues.

ABOUT BORGATA HOTEL CASINO & SPA:
Located in Atlantic City’s Marina District, Borgata Hotel Casino & Spa features 2,000 guest rooms and suites; 106,000 square feet of event space; 161,000 square feet of gaming; 189 table games; 2,994 slot machines; a 75+ table poker room; a race and sports book; 11 retail boutiques; 5 acclaimed fine dining restaurants by renowned chefs; 10 casual dining options; a 54,000 square foot spa; 88,000 square feet of event space; 20,000 square foot indoor/outdoor pool and garden; 32,000 square foot outdoor pool; 4 signature nightlife experiences; and parking for 7,100 cars. The market-leading resort also features Atlantic City’s first cosmopolitan hotel experience, The Water Club at Borgata, with 800 guest rooms and suites; a 36,000 square foot spa; 18,000 square feet of meeting space; 6 designer retail boutiques; and 5 heated indoor and outdoor pools. Borgata offers online gaming within the state of New Jersey through its real-money gaming sites, www.BorgataCasino.com and www.BorgataPoker.com. Borgata is an indirect wholly owned subsidiary of MGM Resorts International (NYSE: MGM). For more information about Borgata, please visit www.theborgata.com.

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: Borgata Hotel Casino & Spa Announces Construction Of New Sports Book

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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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UNITE HERE Warns About Potential Gaming Tax Revenue Declines, Job Cuts, and Other Problems of Proposed Merger of Eldorado Resorts and Caesars EntertainmentReading Time: 2 minutes

 

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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