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100% Employee-Owned Resort Casino Company Buys Seabrook Greyhound Park

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Facility to become a premier New England entertainment destination

 

Eureka Casino Resort, an established Nevada-based resort casino company, has purchased Seabrook Greyhound Park, a 75-acre property and 90,000 square foot facility in Seabrook, New Hampshire. The Park has a storied history as a destination for live racing, off- track betting, and charitable casino gaming since 1973.

One of only two employee-owned casino companies in the United States, Eureka is led by Greg Lee, chairman, and Andre Carrier, chief operating officer. Both men have deep ties to New Hampshire. Lee was a graduate of St. Paul’s School in Concord and Carrier’s family still resides in the Mount Washington Valley. Their connection to the Granite State and extensive industry experience inspired them to pursue the opportunity in Seabrook.

Eureka is a core values-centric organization and highly committed to treating its guests, communities, and employees with care, compassion, and dedication. These values and the Company’s unique employee-ownership structure earned Eureka a spot on Fortune Magazine’s Top 100 Medium Workplaces in America – 2018. Eureka continually seeks opportunities to make a positive impact wherever it operates, providing long-term employment and thoughtful engagement in local education and civic causes.

“We are excited to bring the opportunity for employee ownership to this legacy business. We look forward to bringing our corporate culture, and our desire to meet and exceed the expectations of our guests and the communities we serve, to New Hampshire,” said Lee. “It feels great to be home,” added Carrier. “Greg and I love the land and location of Seabrook Park as well as the business opportunity.  We think we are able to bring some new energy to race wagering and our approach to business is really aligned with the charitable casino model in place in New Hampshire. We foresee doing a lot of good here while having a lot of fun.”

Eureka will begin improvements to the facility immediately with construction beginning February 4th. The facility will remain open throughout the remodel. The casino, poker room, and simulcast/off-track betting areas will maintain customary operating hours. Eureka plans to transform the entire facility into the region’s premier gaming, entertainment, and food and beverage destination, with the first full phase of development completed by August 2019.

“We will work hard to design and build a new facility that is welcoming and exciting to both first-time guests and the Park’s long-time valued customers,” said Carrier. “The Park has been a landmark in New Hampshire for nearly half a century and we take our responsibility seriously to make it a vibrant business and destination for many years to come.”

 

About Eureka Casino Resort:

Eureka is a 100% employee-owned casino resort company headquartered in Mesquite, Nevada, 80 miles northeast of Las Vegas. The Company’s signature property, The Eureka, is a premier destination for golfers and vacationers from across the globe. Visitors come to challenge themselves on some of the finest desert golf courses in the world or take in scenic views of Mesquite’s red-topped mesas. The magic of The Eureka is the charm and beauty of its small-town home mixed with its big time fun, facilities, and service that rivals any five-star resort. Renowned not only for the work they do to serve their guests but also their community, The Eureka is a central pillar in essential charity and service programs throughout the region. Widely known for its quality service, products, and innovative community service, Eureka was most recently recognized by Fortune Magazine as one of the Top 100 Medium Workplaces in America – 2018.

Source: Eureka Casino Resort

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: 100% Employee-Owned Resort Casino Company Buys Seabrook Greyhound Park

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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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