Each week, CasinoBeats breaks down the numbers behind some of the industry’s most interesting stories. In this issue we take a look at Scottish criticism, UK Gambling Commission action, US responsible gambling and a blockbuster merger.
Eldorado Resorts and Caesars Entertainment have confirmed the completion of their long mooted merger, creating the largest casino and entertainment firm in the US.
Boasting more than 55 destinations worldwide, the transaction also enhances Caesars’ position “as the leading regional and destination gaming operator in the US”.
In addition to its global casino property portfolio, including a roster of eight casino hotel properties on the Las Vegas Strip, Caesars owns or operates casinos in 16 states across the US including Nevada, Colorado, Missouri, Iowa, Florida, Mississippi, Louisiana, Ohio, Illinois, Indiana, New Jersey, Pennsylvania, Arizona, North Carolina, California and Maryland.
The $17.3bn cash and stock transaction has seen Eldorado previously praise the increased scale and geographic diversification to be felt as a result of the combination, with approximately $500m of synergies expected to be felt in the first year.
The UK Gambling Commission has announced an interim suspension to the operating licence of Genesis Global Limited due to suspicions that certain conditions have been breached.
Commenting that “this is due to a number of compliance issues,” the licence suspension, effective immediately (Monday 20 July 2020), makes it illegal for Genesis Global to offer gambling services via its suite of igaming sites in Great Britain.
Those sites suspended are Casoola Casino, Casino Planet, Kassu, CasinoCruise, Casino Gods, Casino Joy, Genesis Casino, Pelaa, Sloty Online Casino, Spela, Spinit and Vegas Hero.
In a media release documenting the announcement, the UKGC commented: “We have instructed the operator to facilitate customers accessing their accounts to withdraw funds and advise customers not to place any bets through the above websites.
“If a customer has questions concerning their account we advise they contact the operator through the website they have used.”
The Betting and Gaming Council has criticised a perceived u-turn by the Scottish Government regarding the use of gaming machines in bookies following a June 29 reopening.
Betting shops in the country have been ordered to switch off the machines, just days after the…