The Tri-Cities region is on the brink of a significant development as the Confederated Tribes of the Colville Reservation move forward with plans for the area’s inaugural tribal casino. With the project now entering a pivotal phase of federal approval, new insights into its scope and potential impacts are emerging.

BIA to Host Virtual Meeting on Environmental Impact of the Project

Scheduled for April 24, the Bureau of Indian Affairs (BIA) is set to host a virtual public meeting to gather feedback on what should be encompassed in the Environmental Impact Statement (EIS) for the proposed casino, reported local media outlet the Tri-City Herald. The EIS, as mandated by federal law for certain projects, aims to assess the environmental repercussions of the endeavor.

The ambitious plan outlined by the Colville Tribe encompasses the construction of a sprawling 184,200-square-foot casino, a 200-room hotel, an event center, dining establishments, and ancillary facilities. Situated on 165 acres of Colville-owned land off Highway 395 and Kartchner Street, north of the King City Truck Stop, the project aims to invigorate the area’s economic landscape.

Central to the endeavor is the “Fee-to-Trust” process, which facilitates the development of enterprises like casinos, hotels, and restaurants on non-reservation sites under the Indian Gaming Regulatory Act of 1988. The BIA is overseeing the intricate process of placing the designated land into federal trust, paving the way for the casino’s realization.

Yakama Nation Opposes Colville Tribe’s Casino Plan in Tri-Cities

While the prospect of economic revitalization is promising, the project has not been without its detractors. Among them, the Confederated Tribes and Bands of the Yakama Nation have voiced objections, citing territorial disputes rooted in an 1855 treaty. The Yakama assert that the Colville’s plans encroach upon their ceded territory, particularly in the Tri-Cities area.

In response, the Colville Tribe contends that Pasco holds historical significance for several of its constituent tribes, such as the Palus, and asserts that any territorial concerns will be addressed through the rigorous federal review process.

The proposed casino site, flanking North Capitol Avenue near the Kartchner exit and north of the AutoZone warehouse, symbolizes the Colville Tribe’s aspirations for economic growth and community development.

Despite the absence of tribal operations in close proximity, private casinos dot the landscape of the Tri-Cities. Notable among them is the Wildhorse Casino and Resort near Pendleton, Ore., operated by the Confederated Tribes of the Umatilla Reservation, and Legends Casino & Hotel in Toppenish, operated by the Yakama.

As the Tri-Cities eagerly anticipates the potential economic and cultural implications of the proposed tribal casino, stakeholders and community members alike are encouraged to participate in the forthcoming public engagement opportunities to shape the trajectory of this transformative endeavor.

The post Tri-Cities Anticipates First Tribal Casino Proposal appeared first on Keno Wizard.

The Blackstone Group, the globally recognized US private equity giant, acquired Crown Resorts, the leading Australian casino operator, last summer. At the time of the announcement, the price tag of the deal was a staggering AU$8.9 billion ($6.5 billion). However, despite the initial investment to acquire Crown Resorts, The Blackstone Group revealed that it has already spent hundreds of millions of dollars more to help revitalize and overhaul Crown Resorts in the upcoming years.

In a recent interview for The Australian, Blackstone’s global co-head of real estate, Kathleen McCarthy, spoke about the company’s intentions to invest further in Crown Resorts’ Melbourne property. She explained that Blackstone has already invested “hundreds of millions of dollars” in the property as it prepares to completely transform the customer experience.

According to McCarthy, the company is delighted about this investment and the exciting journey that lies ahead. She spoke about Crown’s Melbourne property, explaining that it represents an excellent location. However, McCarthy added that Crown Resorts Melbourne “needs capital investment to make it an exciting and fresh place for folks to come.”

“We have invested hundreds of millions of dollars (behind the scenes), now we get to the really exciting part, which is transforming the customer experience and what they are seeing. We remain very excited, and we are just really beginning the journey here.“

Kathleen McCarthy, global co-head of real estate at The Blackstone Group

Transforming the Experience to Attract More Visitors

When asked about other possible investments, McCarthy said that Blackstone explores additional opportunities. Still, she added that an ongoing focus for the company is the transformation of Crown. According to McCarthy, Blackstone anticipates attracting a wide range of guests at the Melbourne property, including Australians and visitors overseas. She outlined that this can be achieved through investment in new and engaging experiences, such as shopping or food outlets, that can make the property even better.

“We’re really focused on the work ahead of us at Crown and the opportunity to transform the business,“

added McCarthy

Focusing on the bigger picture, McCarthy said that Blackstone prioritizes the transformation of quality real estate. Such initiatives can help bring operational assets, boost cash flow and at the same time, elevate the experiences for the visitors, she said. Finally, McCarthy outlined that the company continues to explore different investment opportunities.

The gambling sector in Australia has seen quite a lot of turbulence lately. With local governments scrutinizing operators and ongoing changes to the established regulations, fears about overspending and gambling harm continue to rise. Yet, the changes to the gambling sector are on a government level, reaffirming the commitment of lawmakers to curb problem gambling and reduce gambling harm.

The post Blackstone Anticipates Crown Resorts Overhaul to Cost Millions appeared first on Keno Wizard.

The technology-driven provider of leading iLottery and iGaming solutions and content, NeoGames, released its latest trading update Wednesday. Judging by the figures within its unaudited report, the company saw strong growth within the iLottery and iGaming vertical for the second quarter ended June 30, 2023.

Overall, the company’s total revenues and share in NPI revenues for Q2 this year hit $62 million. This result, when compared to the $31.3 million result for Q2 last year, marked an increase of 98.2%. NeoGames explained that this significant growth comes after its combination with Aspire Global, as well as the completion of strategic growth objectives.

Similarly, the company’s iLottery revenues increased for the second quarter of this year. In total, NeoGames’ iLottery revenue hit $13.8 million, marking a nearly 8% increase when compared to the $12.8 million result from Q2 2022.

A further breakdown reveals that NeoGames’ share in NPI revenues hit $14.1 million for Q2 this year, up by 37.9% when compared to the corresponding period last year. Moreover, NeoGames’ iLottery revenue together with the company’s share in NPI revenues for Q2 this year marked a 21.2% increase year-over-year to $27.9 million.

The latest trading update reveals that NeoGames’ iGaming revenues for the second quarter of this year hit $34.2 million and said that the revenue “reflect accounting for the majority of Aspire Core revenues on a net basis compared to historical figures which were prepared on a gross basis, prompted by new commercial terms in certain Aspire Core contracts which went into effect on January 1, 2023.”

The Company Remains Focused On Expansion

Moti Malul, NeoGames’ CEO, revealed that the company is excited about the strong results for the second quarter of this year. “Our continued commitment to innovation and excellence has paved the way for expansion across various global markets, with progress during the second quarter of 2023 across all of our business lines, including BtoBet, Pariplay, Aspire Core, as well as NeoPollard Interactive,” he added.

Additionally, Malul highlighted the important iLottery partnerships the company inked with the Virginia Lottery, as well as the AGLC, PlayLive!, SunBet and Metropolitan Gaming. According to him, those collaborations reaffirm the scalability and potential of NeoGames’ leading solutions.

“We are very pleased with the achievements and partnerships that defined and drove our second quarter results.“

Moti Malul, CEO of NeoGames

Malul acknowledged that NeoGames continues to expand and reminded about the recently secured iGaming license by the company in Germany. This, he said, represented an important milestone for the company for its growth across Europe.

When it comes to the merger with Aristocrat Gaming, NeoGames’ boss said that the company continues to gain traction on this objective. He pointed out that the merger is expected to be completed at some point during the first half of the 2024 fiscal year. Finally, Malul said that the company remains focused on growing within the iGaming sector and capturing new opportunities.

The post NeoGames Posts Strong Q2 Results, Anticipates Further Growth appeared first on Keno Wizard.