It is suggested by the pair that a 92,000 square feet plot of undeveloped land, which is owned and controlled by the former, represents a prime destination for a casino resort location in midtown Manhattan.

Larry Silverstein, Chair and Founder of the real estate development, investment and management firm, has previously worked with officials and public agencies to rebuild the World Trade Center site and revitalise Lower Manhattan following the September 11, 2001, terrorist attacks.

In addition to being “shovel-ready upon approval”, the site is said to be “free of complex logistical infrastructure hurdles”, such as a heavily congested immediate area and the need for residential or commercial displacement.

“Our city and state face a confluence of historic challenges right now,” said Silverstein. “These include a housing crisis, public safety challenges, budget shortfalls, and a commercial real estate market in transition. 

“We need to work with state and local leaders to do everything we can to make New York the best place to live, work and visit. 

“We’ve done it before, and I am confident we can do it again. I’ve always said you should never bet against New York; This city and state will come back bigger and better than ever before.”

Silverstein and Greenwood, the owner and operator of Pennsylvania’s Parx Casino, stress that its 1.8 million square foot proposal will aid the city and state’s economic recovery, as well as revitalise the local area.

The Avenir will comprise two 46-story towers connected by a public sky bridge and include 1,000 luxury hotel rooms, discussions regarding the operators of which are ongoing; an eight-story, 600,000 square foot gaming, entertainment, and restaurant complex at its base and a 1,000-seat performance hall on its top floor.

In addition to being well connected via numerous transportation options, an array of attractions, such as Times Square, Broadway theatres, Madison Square Garden and retail dining options are also within walking distance.

“We are excited to join with Silverstein Properties to create a gaming, leisure, and entertainment destination that will reflect the unique character and spirit of New York City, and attract visitors from all over the globe,” said Eric Hausler, the Chief Executive Officer of Greenwood Gaming and Entertainment.

“We are a company with deep roots in our communities. We look forward to working with the Hell’s Kitchen and Hudson Yards communities’ elected, civic, and labour leaders to create something that serves the neighbourhood and its residents.”

Furthermore, Silverstein and Greenwood also vow to deliver “more than 100 apartments that are 100 percent and permanently affordable” amid what is labelled as “a worsening housing crisis”.

The project is also slated to create 9,500 jobs, with 4,000 of these being via construction and a further 5,500 permanent roles to open up upon completion. 

“Our company has been part of the Hudson Yards / Hell’s Kitchen neighbourhood for nearly 40 years,” said Lisa Silverstein, Vice Chair of Silverstein Properties. 

“We have already built 549 affordable homes on West 42^nd Street and look forward to developing over a hundred more as part of this project. 

“The Avenir is an opportunity to create much needed affordable housing, jobs, and economic development, along with many neighbourhood improvements in an isolated and often-overlooked part of the city.”

The New York State Gaming Commission began the bidding process for the three commercial casino licences in January. Each will require applicants to pay a minimum capital investment and licence fee of $500m each.

Several casino operators have expressed interest in one of the three licences on offer including Caesars Entertainment, Las Vegas Sands, MGM Resorts, Mohegan Gaming, and Wynn Resorts.

Thor Equities, Saratoga Casino Holdings, Chickasaw Nation and Legends Hospitality have also released image renderings and the official name – The Coney – of their proposed Coney Island casino.

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This alliance will see the specialised payments platform provide its solutions for the group’s mobile apps in Pennsylvania and New Jersey, building upon the support offered to the Play Gun Lake brand in Michigan that is powered by betParx

Zak Cutler, CEO of North America iGaming at Paysafe, remarked: “We’re delighted to extend our partnership with betParx into two major states in the US igaming space – New Jersey, the cornerstone of the whole market since 2013, and Pennsylvania.

“We look forward to facilitating payments for betParx and its players in both states to strengthen the two brands’ customer conversions and retention.”  

Through integration with the Playtech IMS, BetParx’s tech partner, users across the aforementioned regions can make streamlined deposits to fund accounts with credit or debit cards. 

Furthermore, alternative payment solutions, such as Skrill USA digital wallet, which was upgraded in Q4 with new functionality for instant funding of deposits, plus Paysafe’s Paysafecash and paysafecard eCash solutions, can also be used as funding options by players. 

Matthew Cullen, Senior Vice President of Interactive at betParx, commented: “We are proud to extend betParx’s partnership with an industry leading payment technology provider. 

“We constantly look for features that will round-out our service to users and make betParx the simplest and fastest app, and Paysafe delivers easy and user-friendly deposit and cash-out options.”

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This will see the group construct a category four gaming establishment within Shippensburg Township, Cumberland County, which is targeting an opening in the latter stages of 2022.

A category four slot machine license permits an entity to operate between 300 and 750 slot machines, with it also possible to petition for permission to initially operate up to 30 table games for an additional fee of $2.5m with the capability of adding an additional 10 after its first year of operation. This table games certificate was also approved.

According to information presented today to the Board, Parx Casino Shippensburg will offer 500 slot machines, electronic tables games, and a restaurant and sports bar facility, at opening within its 73,000 square foot facility.

The casino, which will be non-smoking, expects to create 175 construction jobs and more than 125 full time equivalent permanent jobs. It also plans to offer sports wagering in the future.

The award concludes a process that began on February 22, 2018, when Greenwood secured the right to locate a casino with a winning bid of $8.11m at the fourth category four auction held.

Elsewhere, the PGCB has also made moves to ban four individuals from all casinos in the Commonwealth after leaving children unattended so they could gamble in a gaming establishment.

The Office of Enforcement Counsel presented four cases to the board involving unattended children left in parked vehicles or in a hotel room at casinos in Pennsylvania. 

In each, the regulator says that the parent left a young child or children, with no adult supervision, so they could go into a casino to gamble. 

Subsequently, the board termed this behavior “irresponsible and dangerous,” which has resulted in the approval of the placement of the four adults on the ‘Involuntary Exclusion List’ which prohibits individuals from entering and gambling at all Pennsylvania casinos. Additionally, offenders may face criminal prosecution.

Since 2011, 133 individuals have been placed on the involuntary exclusion list for this type of behaviour.

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In the former, the regulator has issued a $10,000 fine against Greenwood Gaming and Entertainment, operator of Parx Casino, for permitting an 18-year-old to enter the gaming floor and gamble on slot machines.

The PGCB reminds licensees that: “The Gaming Act makes it unlawful for an individual under 21 years of age to enter and remain in any area of a licensed facility where slot machines are operated or the play of table games is conducted, and to wager, play or attempt to play a slot machine or table game at a licensed facility.”

Furthermore, a number of cases involving unattended minors being left in vehicles in parking garages or a surface parking lot at a casino in Pennsylvania were also presented.

In each case, the state regulator says the parent or guardian left a young child or children with no adult supervision so they could go into a casino to gamble on slots, gamble at a table game, buy or redeem a sports bet, or meet up with acquaintances who were gambling.

“In each instance, the board termed this behavior ‘irresponsible’, resulting in the approval of the placement of three offending adults on the PGCB’s involuntary exclusion list that prohibits individuals from entering and gambling at all Pennsylvania casinos,” the PGCB added. 

“Additionally, offenders may also face criminal prosecution for endangering the welfare of a child or children.”

In the first of the incidents, one parent was involuntarily excluded for leaving his 11-year-old child in a vehicle in the parking lot of a casino, so that he could go inside to redeem a sportsbook ticket.

Another saw the partner of eight and five year olds involuntarily excluded after leaving the two in his vehicle to place a bet at the casino sportsbook and play at a craps table.

A third individual was the recipient of a similar action for leaving four children, aged 13, 13, 10 and two, in her vehicle so she could enter the casino to watch an acquaintance play at a craps table.

Since 2011, 129 individuals have been placed on the involuntary exclusion list for this type of incident.

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The property will pay a total licensing fee of $3m and implies a patent license of roughly $75 per reward card, validating a ‘per unit’ value of the patent. GAN has also agreed to amend its existing contract with Parx Casino, and will release the firm from exclusivity moving forward.

The iBridge Framework, which aims to bridge the internet gambling experience with that of retail gaming, enables operators to automate marketing processes between the online and offline spaces, with players who make purchases online receiving additional loyalty points in-casino, and more.

Dermot Smurfit, CEO of GAN, explained: “This is the second time GAN has licensed its patented iBridge Framework on a standalone basis and we believe the opportunity to leverage our intellectual property here in the US remains large. 

“We continue to be engaged in numerous conversations with both large and small casino operators to partner with GAN in order to seamlessly connect their loyal reward card carrying customers to their various online offerings. 

“As a result, we believe we are on track to license our iBridge patent to additional US casino operator groups in 2021 and throughout the patent’s remaining 13-year duration, which should help us drive long-term value for our shareholders.”

Furthermore, GAN has also documented its technical performance for the weekend’s Super Bowl, with over 14.6m bets settled online, a 186 per cent increase year-on-year, and $3m secured in patent license revenue

Smurfit added: “GAN delivered uninterrupted performance for all our US clients during Super Bowl LV, just as we did last year and the year before that.

“Yesterday, we experienced record all-time transaction volumes before, during and after the Super Bowl and look forward to leveraging the experience, technical data and knowhow to prepare for next year’s technical onslaught which we expect will see Super Bowl betting on GAN’s Platform taking place across perhaps more than a dozen States simultaneously. 

“We’ve started the year with strong business and financial momentum and this patent licensing deal further validates our industry leading IP and sets a new bar for its value per reward card.”

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100

The UK Gambling Commission released its latest guidance on the prevention of money laundering and terrorism financing, titled The prevention of money laundering and combating the financing of terrorism: Guidance for remote and non-remote casinos.

Becoming the fourth edition, the regulator says it expects licence-holders to have in place policies, procedures and controls covering the risks that may relate to money laundering and terrorist financing within the 100-page document.

The commission stated: “Using the money in casinos, regardless of the amount, that is the proceeds of any crime, can amount to money laundering if the person using or taking the money knows or suspects that it is the proceeds of crime.

“Money-laundering offences can be committed by both the customer and casino employees, depending on their respective levels of knowledge or suspicion.

“Senior management must be fully engaged in the processes, for a casino operator’s assessment of risks for money laundering and terrorist financing, and must be involved at every level of the decision making to develop the operator’s policies and processes to comply with the regulations.

“Disregard for the legal requirements, for example, turning a blind eye to customers spending criminal proceeds, may result in criminal or regulatory action.”

3

Kambi now powers three of Pennsylvania’s four live sportsbooks, after the Parx Casino was given the green light to continue its operation after a two-day testing phase.

Patrons of the establishment can place bets via seven teller windows, or at any of the 45 Kambi-powered betting kiosks located within the property.

The betting platform and systems provider is now turning its attention towards Parx owner Greenwood Gaming and Entertainment’s South Philadelphia Turf Club and Valley Forge Turf Club, the former of which is expected to be ready for regulatory testing this week

Max Meltzer, Kambi’s chief commercial officer, praised the organisations latest launch: “We’re very excited to have launched our on-property sportsbook at Parx Casino, a brand which shares our commitment to providing unique and exciting wagering experiences to players.

“Today’s unveiling marks Kambi’s fourth bricks and mortar sportsbook launch in less than three months, and cements our position as the leading online and on-property sportsbook supplier in the burgeoning US market.”

4.01%

Lottoland Holdings last week made an offer in the region of €60m to €76m for the German business of Zeal Network – which was swiftly rejected by the company for “neglecting the true value of the business”.

The news comes amid a rollercoaster period for the respective boards and shareholders, during which the CEOs have take public potshots in a series of open letters and press releases.

In short, Zeal wants to approve its takeover of Lotto24 at a shareholder meeting on January 18 but Lottoland – which holds a 4.01 per cent interest in Zeal – wants to see the meeting postponed so that it can make an alternative offer that is “in the interests of all shareholders”.

Helmut Becker, CEO of Zeal, said of the rejected proposal: “The indicative offer from Lottoland is an attempt to buy our core German assets on the cheap. It does not reflect the value of our German business.

“At the same time, a sale of our core business would leave Zeal and its shareholders with all downside risks from pending VAT litigation in Germany, and with significant costs from restructuring the rest of the business.

“Our plan to convert Tipp24 into a brokerage business, and to combine it with Lotto24, will create a strong platform for future growth and is far superior to the Lottoland proposal.”

$11m

The property that accepted Atlantic City’s first sports wager, Borgata Hotel Casino and Spa, is to invest in excess of $11m to develop a new bar and sports wagering experience.

Beginning construction on the new venue, which the property anticipates to debut later in the summer, it is hoped that an “entertaining bar experience” and sports wagering will prove to be perfect accompaniments.

Marcus Glover, president and chief operating officer for Borgata Hotel Casino and Spa, commented: “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.

“We are proud to have been at the forefront of legalised sports betting in New Jersey, and look forward to advancing our product with an innovative gaming and entertainment experience for our guests to enjoy.”

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First to enter its soft launch phase was the Penn National Gaming’s International Game Technology powered Hollywood Casino, which was quickly followed by Greenwood Gaming and Entertainment’s Parx Casino, whose igaming platform has been supplied by Gan, before SugarHouse Casino made its move.

After being granted an interactive gaming manufacturers conditional licence by the Pennsylvania Gaming Control Board earlier this year, NetEnt has now taken its games live in the Keystone State following a number of successful integrations.

The organisation stresses that more is set to come in the second largest US state to regulate online casino, with a number of customer agreements signed alongside operators in Pennsylvania.

Erik Nyman, managing director NetEnt Americas, commented: “I am very pleased that the market in Pennsylvania has now opened. We are one of the few online casino suppliers offering our games right from the start, and I am convinced that our award-winning online casino games will be much appreciated by players in Pennsylvania.”

Earlier this month weakness in the Nordic countries, and primarily Sweden, resulted in NetEnt reporting declining revenues for the second quarter on the year.

Also issuing a H1 update, the report shows that 4.1 revenue decline in Q2 from SEK 437m (£37.1m) to SEK 419m (£35.6m) contributed to a 3.4 percent drop during the year’s first half, with figures falling from SEK 867m (£73.7m) to SEK 837m (£71.2m).

Driven by fewer players and lower ARPU since the new regulation was introduced at the beginning of the year, outside of the Swedish market, in the 23 jurisdictions that the firm has a presence, revenue grew 1.7 per cent, primarily due to a strong performance in New Jersey, Eastern Europe, Spain and Portugal.

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Following approvals being issued almost two years ago by the Pennsylvania General Assembly as part of a state-wide gaming expansion under bill H271, Penn National Gaming’s International Game Technology powered Hollywood Casino became the first entity to conduct its soft launch earlier in the week.

This was quickly followed by Greenwood Gaming and Entertainment’s Parx Casino, whose igaming platform has been supplied by Gan, before SugarHouse Casino, which is to soon be renamed Rivers Casino Philadelphia, undergoes its two-day testing phase tomorrow (Wednesday 17 July).

Should each of the respective testing phases proceed without a hitch, state regulator, the Pennsylvania Gaming Control Board, will issue the green-light to proceed with full operation.

Richard Schwartz, president of Rush Street Interactive, which introduced its SugarHouse Casino igaming entity in New Jersey three years ago, commented on the impending launch: “We thank the Pennsylvania Gaming Control Board, for authorising us to be a part of history this week in bringing our online sportsbook and casino to gaming enthusiasts in the state of Pennsylvania.  

“We are also proud to become the first gaming operator to offer the same online brand in both Pennsylvania and New Jersey so players who live or work across the border of these states can bet on PlaySugarHouse.com in either state.

“Along with our recent success in Pennsylvania, Rush Street Interactive has grown market share in New Jersey since entering the market in 2016, in large part due to the quality of the user experience at PlaySugarHouse.com and the time we’ve invested listening to what our players want to improve their experience, and by offering responsive customer service and fast payouts.

“We are proud to now bring the same quality, award-winning PlaySugarHouse.com interactive sportsbook and casino service to players in the state of Pennsylvania.”

Those wishing to enter the market can obtain licences for online slots, casino games or poker at a cost of $4m each, or secure all three for $10m.

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This follows a similar such process undertaken from January to April last year, when five successful bids raised a combined $127m for the right to proceed with construction.

Under the Gaming Expansion Act 2017, ten category four slot machine operator licences were up for grabs, with the first of those, Penn National Gaming’s Hollywood Casino Morgantown, slated to open next year.

Only the state’s 13 licensed casino operators can bid for the right to develop a satellite entity for an established minimum bid price of $7.5m once again, with a separate certificate to permit the use of table games able to be obtained from the PGCB for a $2.5m fee.

A category four licencee may include between 300 and 750 slot machines, along with a maximum of 30 table games at opening with the capability of adding an additional ten after its first year of operation.

Following the auction process, winning bidders must pay the stipulated amount no later than 4pm on the second business day after the date of the auction, following which six months will be permitted to submit a further application detailing an exact location of the proposed property.

To that end, state decision makers made one key alternation to its previous auction process, with a 40 mile (64 kilometre) radius having to be established from any of the existing or prospective 18 locations, a sharp increase from the previously established 25 miles (40 kilometre).

The first auction round is scheduled from September 4, 2019, with up to five rounds of bidding permitted until the cut off date on the last day of the year.

With local media reporting a degree of uncertainty as to the appetite to introduce further properties by Pennsylvania operators, should no bids emanate the auction will close.

Previous winners of a category four licence during the PGCB’s 2018 auction were:

• Mountainview Thoroughbred Racing Association, operator of Hollywood Casino at Penn National Race Course, won with bids of $50.1m and $7.5m for constructions in York and Berks County.
• Stadium Casino, which is constructing its flagship category 2 Live! Hotel & Casino Philadelphia, secured the right to construct a satellite casino in Westmoreland County for $40.1m
• Mount Airy Casino Resort bid $21.1m for its Beaver County proposition.
• Greenwood Gaming and Entertainment, which operates the Parx Casino, secured the green-light to proceed in Cumberland County for $8.1m.

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Releasing its latest yearly breakdown of the figures, ahead of a total gaming revenue report that it to follow later this month, slot machine revenue posted increases in nine of the 12 month during the period to come in at $2.37bn.

Representing a $26.5m increase to the total posted during the 2017/18 time frame, the board also noted that tax revenue produced as a result of slot machine play came in at $1.23bn for the year, a 3.71 per cent boost from $1.19bn.

To date, since the first land-based establishment opened its doors in 2006, revenue from slot machine play has totalled $27bn resulting in tax generation of $14.5bn. 

Furthermore, the PGCB also broke down the figures further, looking at year-long performances from across the Keystone State’s ten stand-alone and racetrack casinos in operation, along with its two smaller resort entities.

The Greenwood Gaming and Entertainment owned Parx Casino came out as market leader across the 2018/19 period analysed, bringing an increase of a little over four per cent from $400.7m to $416.8m.

Coming out in second, but over $120m behind Parx, is Winds Creek Bethlehem, recently sold by Wynn Resorts for $1.3bn to the Poarch Creek Band of Creek Indians with a prompt name change from its former Sands Bethlehem, which saw a 2.09 per cent dip to $295.7m (2017/18: $302m).

Rounded off the top three is Rivers Casino‘s $291.1m, up 6.15 per cent from $274.2m, but beaten to the accolade of largest percentage increase by Valley Forge Casino Resort, with the Boyd Gaming property jumping 11.06 per cent to $96.2m (2017/18: $86.6m).

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