The Federal Trade Commission (FTC) has approved the merger between Eldorado Resorts and Caesars Entertainment, after requiring Eldorado to sell two properties to Twin River Worldwide Holdings in markets where the deal was deemed uncompetitive.
Twin River Worldwide Holdings has announced that it aims to reopen 90% of its US bricks-and-mortar casinos by 8 June, following a period of temporary closure due to the novel coronavirus (Covid-19) pandemic.
The American Gaming Association (AGA) has urged the US government to raise the slot jackpot reporting threshold, which requires machines to be temporarily taken out of production while large jackpot winners complete a tax reporting form.
International Game Technology (IGT)’s revenue declined 17.9% to $940.2m in the first quarter of 2020, while a $296m impairment charge related to the effects of the novel coronavirus (Covid-19) saw the supplier post a loss for the period.
The second day of ICE North America Digital focused on sports betting, looking both at the regulatory prospects in the wake of Covid-19’s disruption, as well as examining the new products growing in popularity during the shutdown.
Caesars Entertainment Corporation (CEC) reported $123m in comprehensive profit for the first quarter of 2020, despite experiencing a year-on-year drop in revenue due to enforced casino closures as a result of the novel coronavirus (Covid-19) outbreak.
Casino operator Eldorado Resorts posted a $175.6m net loss for the first quarter of 2019 after a strong start to the period was hindered by the closure of its venues as a result of the novel coronavirus (Covid-19).
Casino operator Wynn Resorts has put a net loss of $402.0m in the first quarter primarily down to the temporary closure of its sites in the US and Macau due to the novel coronavirus (Covid-19) pandemic.
Penn National Gaming (PNG) has posted a loss of $608.6m for the first quarter of 2020, primarily due to impairment charges and the shutdown of its casinos due to the novel coronavirus (Covid-19) outbreak.
MGM Resorts’ revenue fell 29.1% to $2.25bn for the first quarter of 2019 due to the effects of the novel coronavirus (Covid-19), but the operator’s profits skyrocketed due to sales of two of its properties.