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Wind Creek Hospitality Closes on Sands Bethlehem Purchase

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Alabama’s Poarch Band of Creek Indians Adds $1.3B Property to Gaming Operations

 

PCI Gaming Authority D/B/A Wind Creek Hospitality (WCH), an authority of the Poarch Band of Creek Indians, has finalized the purchase of the Sands Casino Resort in Bethlehem, Pennsylvania, for a total enterprise value of $1.3 billion.  The property will be rebranded as Wind Creek Bethlehem (WCB).

WCB will welcome guests to the upscale, Las Vegas-style resort, located in the heart of the Lehigh Valley of Pennsylvania, approximately 80 miles from New York City.  Amenities currently include a 282-room AAA four diamond hotel, a 183,000 square foot casino floor featuring 3,000 slots and electronic table games, 200 table games, numerous food and beverage outlets, a 150,000 square foot retail mall, and a multi-purpose event center.

Over time, WCH plans to invest an estimated $340 million in updating and expanding the property to include construction of a 300-room hotel adjacent to the casino; a 300,000 square foot adventure and water park at the existing No. 2 Machine Shop Bethlehem Steel site; and a 400-to-450-room hotel adjacent to the adventure park. All expected to bring additional jobs, tourism and economic growth to Lehigh Valley.

WCH President/CEO, James Dorris commented “One of the things that drew us to this property is the quality and experience of the service-minded employees. Each of the nine executives has accepted a multi-year contract with us and we hope that all team members want to continue their work here as part of the Wind Creek family. We will need them as we grow the offerings at Wind Creek Bethlehem. ”

The purchase of its largest property to date provides a significant opportunity for WCH to diversify its holdings as well and to offer the Wind Creek Rewards program and online WindCreekCasino.com to millions of new customers. Travel perks offered by the Wind Creek Rewards program to some of the most alluring resorts in the Caribbean: Renaissance Aruba Resort and Casino and Renaissance Curacao Resort and Casino, both owned by WCH, are expected to be particularly appealing escapes for WCB customers during the cold winter months.

Wind Creek Hospitality funded the acquisition with a combination of existing cash on its balance sheet and new debt financing.  Credit Suisse has provided financing for the transaction.  Wind Creek Hospitality anticipates that the additional cash flow resulting from the acquisition will allow it to pay down debt on an accelerated basis after closing. Innovation Capital, LLC is exclusive financial advisor and Cooper Levenson P.A. is legal counsel to Wind Creek Hospitality in connection with the transaction.

 

About Wind Creek Hospitality:
Wind Creek Hospitality is an authority of the Poarch Band of Creek Indians.  Wind Creek Hospitality manages the Tribe’s gaming facilities including: Wind Creek Atmore, Wind Creek Wetumpka, Wind Creek Montgomery, Wa She Shu Casino in Nevada, Renaissance Aruba Resort & Casino, Renaissance Curacao Resort & Casino as well as racetracks in Alabamaand Florida.  For more information, visit: https://windcreekhospitality.com/.

About the Poarch Band of Creek Indians:
The Poarch Band of Creek Indians is the only federally recognized Indian Tribe in the state of Alabama, operating as a sovereign nation with its own system of government and bylaws.  The Tribe operates a variety of economic enterprises, which employ thousands of area residents.  For more information, visit: www.pci-nsn.gov.

 

Source: Wind Creek Hospitality

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: Wind Creek Hospitality Closes on Sands Bethlehem Purchase

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Shares of Madison Down 9.3%

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The Shares of Madison Square Garden Co have fallen their most ever after it disclosed the steep cost of building a new venue in the gambling mecca. The stock fell as much as 9.3% to $266, hitting its lowest mark since January.

Investors were jarred by potential cost overruns of a concert and event venue called the Las Vegas Sphere. MSG approved a preliminary construction budget of $1.2 billion, but a contractor estimated the expense would be $1.7 billion.

Even $1.2 billion would dwarf the budget of other venues. Las Vegas’s T-Mobile Arena, which opened just down the street in 2016, cost $375 million.

MSG plans to open the high-tech Las Vegas venue in 2021. It will host concerts, product launches, award shows and sporting events and feature an interior display the size of three football fields, the company 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: Shares of Madison Down 9.3%

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Idaho Lottery Celebrates its 30th Anniversary

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Pollard Banknote Limited has congratulated Idaho Lottery on the success of its 30th Anniversary family of Scratch Games™, which launched in February at the $5, $10 and $30 price points. The three games performed extremely well and represents more than 22% of the Lottery’s total instant sales since their launch.

The Lottery’s 30th anniversary year also marked the launch of their first $30 ticket as part of this family of games. Players could also enter any non-winning 30th Anniversary Scratch Game ticket for a second chance draw with an opportunity to win cash prizes up to $30,000.

“Pollard Banknote’s collaboration on our 30th Anniversary family of games captured the playing public’s interest in this milestone year. We have been extremely pleased with the results of our 30th Anniversary Scratch tickets. They’ve led the way in the Idaho Lottery achieving record sales and dividends for our good causes. It’s been a terrific way to celebrate our success on behalf of public education in Idaho,” Jeff Anderson, Idaho Lottery Director said.

“We’ve had the pleasure of bringing many exciting games to market in Idaho. It’s an honor to help the Lottery celebrate its 30th anniversary with these three eye-catching tickets, and we look forward to helping the Lottery introduce innovative new games for many more years to come,” Byron Peterson, Director of Sales and Marketing, Pollard Banknote 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: Idaho Lottery Celebrates its 30th Anniversary

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Playson signs partnership with Superbet

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Casino software developer Playson has signed a deal to provide its impressive suite of games to top Romanian operator Superbet.

The agreement will see the innovative slot provider boost the sportbook’s casino offering with titles including Solar Queen, Vikings Fortune: Hold and Win and Fruit Supreme: 25 lines, the latest addition to its Timeless Fruit Slots series.

Having recently obtained its Romanian licence from the country’s regulator (ONJN), this deal is an important step in expanding its influence in the Romanian market and across Eastern Europe.

Blanka Homor, Sales Director for Playson, said: “We’re delighted to have inked this partnership with Superbet and to offer its players our popular suite of slots.

“Expanding our presence in Romania has been paramount after obtaining our licence from the ONJN and we’re thrilled to offer our games to Superbet’s customers.”

Heather Faulkner, Head of Gaming at Superbet, said: “We’ve been hugely impressed with Playson’s portfolio, and we’re sure its games are going to be a big hit with our players.

“We’re delighted to be working alongside such a well-respected provider and look forward to a long and mutually beneficial business relationship.”

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: Playson signs partnership with Superbet

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