Casinos Archives - Keno Wizard https://kenowizard.com/tag/casinos/ The Ultimate Keno Destination for Odds, Tips & Tricks Thu, 13 Jun 2024 11:15:31 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.5 https://i0.wp.com/kenowizard.com/wp-content/uploads/2023/02/cropped-keno-wizard-icon.png?fit=32%2C32&ssl=1 Casinos Archives - Keno Wizard https://kenowizard.com/tag/casinos/ 32 32 230792155 The Future of Online Betting Looks Secure in the Hands of Crypto Casinos https://kenowizard.com/2024/06/13/the-future-of-online-betting-looks-secure-in-the-hands-of-crypto-casinos/ https://kenowizard.com/2024/06/13/the-future-of-online-betting-looks-secure-in-the-hands-of-crypto-casinos/#respond Thu, 13 Jun 2024 11:15:31 +0000 https://kenowizard.com/2024/06/13/the-future-of-online-betting-looks-secure-in-the-hands-of-crypto-casinos/ Online betting has benefitted significantly from improved technology and connectivity. However, as technology, websites, and apps continue to develop, so do the sophisticated techniques that cybercriminals use to hack sites and gain access to sensitive information. Betting expert Kane Pepi describes the safety and regulation of online casinos as one of the most important factors [...]

The post The Future of Online Betting Looks Secure in the Hands of Crypto Casinos appeared first on Keno Wizard.

]]>

image-5Online betting has benefitted significantly from improved technology and connectivity. However, as technology, websites, and apps continue to develop, so do the sophisticated techniques that cybercriminals use to hack sites and gain access to sensitive information.

Betting expert Kane Pepi describes the safety and regulation of online casinos as one of the most important factors for consumers to consider when choosing one, especially when seeking alternatives to big names like Stake Casino. Choosing online casinos that hold regulatory licenses ensures they operate in a fair and transparent way. (Source: https://www.valuewalk.com/cryptocurrency/best-stake-casino-alternatives/)

While traditional casinos continue to battle cyber attacks and regularly update security procedures, crypto casinos offer a higher level of security that has seen them grow in popularity in recent years.

The Issues Traditional Online Casinos Face

Traditional casinos require players to provide a lot of sensitive data to prove who they are, that they are old enough to bet in their respective jurisdictions, and to make payments. Having to trust different websites with personal and banking information can be a risk, especially if you do not know the measures the operators are taking to keep it safe.

There are many threats that online casinos face including ransomware, DDoS attacks, phishing scams, data breaches, and account takeovers. These can all lead to the consumer losing personal information which can then be used by the attackers.

Account takeovers can also result in cybercriminals having access to customer funds and loyalty benefits.

Traditional casinos invest millions every year into their defences, and because it is an ongoing threat, the cost will typically be passed on to the customer in one way or another.

The Rise of Crypto Casinos

The online betting industry was one of the first to embrace cryptocurrencies as a payment method, and the two have grown together since then. Dedicated crypto casinos and traditional online casinos that offer crypto as one of a variety of payment methods have broadened their market share and made it easier for people around the world to access their facilities.

Casinos have also introduced crash games to simulate the crypto market and appeal to that customer base.

Blockchain Benefits

Using cryptocurrencies at a casino removes the need for players to provide banking information and, in some cases, personal information. All crypto payments are authorised by the digital asset owner confirming the payment with their private, key. The cryptographic code protects the users’ information and allows them to carry out transactions safely.

All crypto transactions are then stored on the blockchain where they can be seen publicly.

Fair and Transparent

Transaction transparency via blockchain ensures operators conduct their business fairly. It allows independent auditors to check the bets placed and the results, making sure customers have a fair chance of winning.

Immutability

As transactions are added to the blockchain, a network of miners secures and validates transaction data. After the transaction is confirmed, it can no longer be altered.

This adds an extra level of security and transparency to all crypto transactions.

Decentralisation

The benefits of a decentralised currency have helped the offshore online casino industry flourish. UK players looking for casinos not on Gamestop Ltd can easily use licensed sites in other jurisdictions when using cryptocurrency.

Crypto transactions are typically quicker than using traditional payment methods, and customers won’t need to worry about exchange rates. Lower transaction fees can also help consumers save money.

Anonymity

No-KYC casinos are those that don’t require customer verification during the sign-up process. This can be a great option for people who don’t like to leave a trail of online activities and transactions and can also minimise the risk of identity theft and fraud.

Players may be required to disclose some information for larger payouts to ensure the operator complies with anti-money laundering regulations.

The Future of Online Gambling

Cryptocurrency transactions are already up by 12% in the first quarter of 2024 and with the iGaming market projected to continue its growth, this figure could rise.

The security and transparency afforded by crypto use in gambling provide peace of mind and a great structure for the industry to grow.

The post The Future of Online Betting Looks Secure in the Hands of Crypto Casinos appeared first on Keno Wizard.

]]>
https://kenowizard.com/2024/06/13/the-future-of-online-betting-looks-secure-in-the-hands-of-crypto-casinos/feed/ 0 7382
Clicks vs Bricks: Can Traditional Casinos Adapt to a Digital World https://kenowizard.com/2024/06/13/clicks-vs-bricks-can-traditional-casinos-adapt-to-a-digital-world/ https://kenowizard.com/2024/06/13/clicks-vs-bricks-can-traditional-casinos-adapt-to-a-digital-world/#respond Thu, 13 Jun 2024 08:14:37 +0000 https://kenowizard.com/2024/06/13/clicks-vs-bricks-can-traditional-casinos-adapt-to-a-digital-world/ The dazzling lights, the electrifying atmosphere, and the clinking of chips – brick-and-mortar casinos hold a special allure for gamblers. But in the digital age, this allure is challenged by the convenience and anonymity of online casinos. Sure, the glitz and glamour of a real casino may be impressive, immersive, and even iconic, but the [...]

The post Clicks vs Bricks: Can Traditional Casinos Adapt to a Digital World appeared first on Keno Wizard.

]]>

image-4The dazzling lights, the electrifying atmosphere, and the clinking of chips – brick-and-mortar casinos hold a special allure for gamblers. But in the digital age, this allure is challenged by the convenience and anonymity of online casinos. Sure, the glitz and glamour of a real casino may be impressive, immersive, and even iconic, but the reality is that digital destinations offer benefits that physical casinos cannot match, forcing traditional establishments to innovate in order to survive. Let’s examine the challenges land-based casinos face and the ingenious ways they adapt to stay relevant.

Papers Please!

Most gamblers agree that Know Your Customer (KYC) regulations are necessary for safe, regulated gambling. However, many find providing identification and financial information to a physical casino intrusive. While KYC regulations are also standard in online casinos, they’re generally perceived as less stringent and, therefore, less of a deterrent for gamblers who value privacy. Moreover, some no KYC casinos do exist, catering to those seeking true anonymity.

For land-based casinos, striking a balance between KYC regulations and privacy is challenging, but some are exploring innovative solutions. Many casinos now use self-service kiosks for registration and ID verification. Data minimization policies are also becoming the norm in physical casinos, ensuring only essential customer information is collected. While offering complete anonymity is difficult in regulated casinos, these innovations seek to provide a sense of privacy for gamblers uncomfortable with KYC procedures.

Convenience is King

Gone are the days of dressing up, traveling long distances, and navigating crowded floors just for the chance to play. Online platforms offer the ability to play from anywhere, anytime. This ease of access is advantageous, especially for those with busy schedules or limited mobility. Furthermore, deposits and withdrawals are often faster and easier online, eliminating waiting in line at a cashier’s cage. With online platforms, the entire gambling experience, from logging in to cashing out, is streamlined for maximum comfort and efficiency.

Recognizing this need for convenience, land-based casinos are upping their game. Many land-based casinos now integrate mobile apps to eliminate waiting lines for shows and restaurants. Similarly, particularly progressive casinos are exploring cashless gaming options; players can deposit, wager, and redeem funds without needing chips using mobile wallets. These innovations streamline the experience and cater to a tech-savvy generation of gamblers accustomed to immediate gratification.

Flash vs Flair

Online casinos boast an endless selection of games, far exceeding what a physical space can accommodate. Additionally, online platforms leverage promotions more aggressively than land-based casinos, offering welcome packages, free spins, cashback offers, and loyalty programs to draw in players. This incredible variety is particularly appealing for players seeking a novel gambling experience.

While online platforms rely on flashy deals and bonuses, land-based casinos counter by offering loyal members exclusive luxury experiences, like access to VIP lounges, invites to high-roller tournaments, and complimentary travel and accommodation packages. Flashy online promotions might grab attention, but physical locations offer experiences impossible to replicate online. Also, physical casinos still provide a staggering number of options. Some casinos host immersive virtual reality experiences. Others offer exclusive slot/table games that are unavailable online. Land-based casinos also ingeniously maximize variety without sacrificing space using modular tables that can convert between games based on player demand.

Live Chat vs Live Cheers

While online gambling offers undeniable advantages, a traditional casino’s social atmosphere remains irreplaceable. The camaraderie of sharing a table with fellow players, the excitement of a big win erupting across the room, and the thrill of the physical environment with all its sights and sounds are aspects that online platforms cannot replicate. To mixed success, real money online casinos are exploring ways to simulate this social experience. Features like live chat, interactive games, and social leaderboards can help bridge the gap and foster a sense of connection among players. However, these online interactions lack the spontaneity and authenticity of real-life interactions. This is the traditional casino’s ace in the hole – a unique advantage that online platforms can only hope to mimic but never truly replace.

That irreplaceable social aspect guarantees that the brick-and-mortar casino will never die. Therefore, the future of casino gambling lies in the co-existence of land-based and online options, embracing the advantages of each and catering to the evolving needs of modern gamblers. If traditional casinos can leverage technology to offer a more seamless experience while emphasizing the unique aspects that online platforms cannot replicate, they will continue to thrive.

The Next Evolution

Land-based casinos aren’t going anywhere. However, the rise of online gambling has undeniably destabilized the industry. While traditional casinos have adapted exceptionally well, technology’s relentless march forward necessitates further action. Governments and regulators should consider legal changes to ensure land-based casinos remain competitive in an increasingly digital world. As seen in the United Kingdom, implementing liberalizing measures for gambling venues. Proactive measures can help level the playing field and ensure a bright future for traditional casinos.

The post Clicks vs Bricks: Can Traditional Casinos Adapt to a Digital World appeared first on Keno Wizard.

]]>
https://kenowizard.com/2024/06/13/clicks-vs-bricks-can-traditional-casinos-adapt-to-a-digital-world/feed/ 0 7379
Jackpot Fever Sweeps across US Casinos with High-Profile Wins https://kenowizard.com/2024/05/23/jackpot-fever-sweeps-across-us-casinos-with-high-profile-wins/ https://kenowizard.com/2024/05/23/jackpot-fever-sweeps-across-us-casinos-with-high-profile-wins/#respond Thu, 23 May 2024 01:58:04 +0000 https://kenowizard.com/2024/05/23/jackpot-fever-sweeps-across-us-casinos-with-high-profile-wins/ Several lucky players recently scored significant jackpots in US casinos, earning transformative amounts. These victories occurred across various games, highlighting the diverse offerings gamblers can enjoy in casinos. The jackpots also underscore the retail sector’s enduring popularity as venues focus on offering a unique and exciting experience that is impossible to get by gambling online. [...]

The post Jackpot Fever Sweeps across US Casinos with High-Profile Wins appeared first on Keno Wizard.

]]>

Several lucky players recently scored significant jackpots in US casinos, earning transformative amounts. These victories occurred across various games, highlighting the diverse offerings gamblers can enjoy in casinos. The jackpots also underscore the retail sector’s enduring popularity as venues focus on offering a unique and exciting experience that is impossible to get by gambling online.

Fortune Can Come from Anywhere

A gambler from Schaumburg, Illinois, hit a life-changing $536,614.25 progressive jackpot on 28 April at Four Winds New Buffalo Casino. The lucky player, who chose to remain anonymous, was playing the Dollar Storm Wild Ninja slot machine and won with a modest $5 bet. This significant win is part of a recent trend of big payouts at Four Winds Casinos, with over $3.2 million in high-profile jackpots awarded since the beginning of March.

In another thrilling win, a local Virginia resident scored a massive $1.259 million progressive jackpot at MGM National Harbor on 5 May. The fortunate player hit a Royal Flush of diamonds while playing Ultimate Texas Hold’em, marking one of the largest payouts ever recorded for this table game in the United States. Alex Alvarado, vice president of casino operations, expressed excitement over the win, highlighting the casino’s commitment to offering unforgettable experiences to its guests.

We’re thrilled that a local struck a big payday on one of our many table games that feature progressive jackpots.

Alex Alvarado, MGM National Harbor VP of casino operations

A Franklin Square, New York resident recently won nearly $500,000 at Mohegan Sun. Identified as “Maged K.” by the casino, the winner hit the “Super 4 Progressive Jackpot” while playing blackjack in the Casino of the Earth with a modest $5 side bet. The progressive jackpot, an optional side bet available at all Mohegan Sun blackjack tables, paid out $483,622.40 when the dealer’s hand resulted in a blackjack.

Such Wins Can Change Lives

Joseph Nardello, a Connecticut resident, had his dreams come true with a $1,904,062 win at The Venetian in Las Vegas. Nardello hit a spade royal flush on a game of Three Card Poker, triggering the mega tier of the Millionaire Progressive jackpot. This progressive, established in 2018, has created 14 millionaires to date. Nardello’s win is one of the largest in the history of the progressive jackpot at The Venetian.

Damon Howell from Union City, Ohio, celebrated his 21st birthday in grand style by winning a $362,640 jackpot at The LINQ Hotel + Experience in Las Vegas. Howell played Ultimate Texas Hold’em for about 30 minutes before hitting the impressive jackpot on 10 May. Surrounded by family and friends, the birthday celebration became unforgettable as Howell’s fun game night transformed into a substantial payday.

These recent high-profile jackpot wins underscore the excitement and potential for life-changing payouts at casinos across the United States. From slot machines to table games, players are hitting big and enjoying unforgettable moments, making these casinos popular destinations for those seeking their shot at fortune or just aiming to have a good time.

The post Jackpot Fever Sweeps across US Casinos with High-Profile Wins appeared first on Keno Wizard.

]]>
https://kenowizard.com/2024/05/23/jackpot-fever-sweeps-across-us-casinos-with-high-profile-wins/feed/ 0 7267
Running Aces Expands Lawsuit Against Tribal Casinos https://kenowizard.com/2024/05/15/running-aces-expands-lawsuit-against-tribal-casinos/ https://kenowizard.com/2024/05/15/running-aces-expands-lawsuit-against-tribal-casinos/#respond Wed, 15 May 2024 17:54:54 +0000 https://kenowizard.com/2024/05/15/running-aces-expands-lawsuit-against-tribal-casinos/ Minnesota casino, racetrack, and hotel Running Aces has recently amended its federal lawsuit and added Mystic Lake and Little Six Casinos, owned by the Shakopee Mdewakanton Sioux Community. Running Aces has accused tribal casinos of offering unauthorized video games of chance in violation of federal and state laws.  Running Aces Alleges Illegal Advantage in Tribal [...]

The post Running Aces Expands Lawsuit Against Tribal Casinos appeared first on Keno Wizard.

]]>

Minnesota casino, racetrack, and hotel Running Aces has recently amended its federal lawsuit and added Mystic Lake and Little Six Casinos, owned by the Shakopee Mdewakanton Sioux Community. Running Aces has accused tribal casinos of offering unauthorized video games of chance in violation of federal and state laws. 

Running Aces Alleges Illegal Advantage in Tribal Casinos’ Gaming Activities

Running Aces filed the amended complaint on May 14 expanding the scope of the initial lawsuit against Grand Casino Hinckley, Grand Casino Mille Lacs, and Treasure Island Resort & Casino. According to the legal action, Running Aces alleges that the casinos along with the newly added Mystic Lake and Little Six have an illegal and unfair advantage because they are hosting unauthorized gaming activities, reported the Star Tribune.

Taro Ito, the CEO and President of Running Aces, underlined the gravity of the situation by saying: “For decades, tribal casinos and certain politicians have been falsely perpetuating that they are entitled to an exclusive right on gaming in the State of Minnesota, including electronic video games of chance. To the contrary, under the Indian Gaming Regulatory Act of 1988 (IGRA), which is a federal law, such an exclusive right is in fact prohibited.”

He further added that the current legal regulations in the state of Minnesota specifically prohibit the playing of electronic video games of chance for any person.

The legal battle has become even more intense as Running Aces is not only looking for a court injunction but has also filed for unspecified monetary damages that the company is seeking from the executives of the targeted tribal casinos.

According to the filed lawsuit, through their offerings of Class II video slots and other video games, the respondents have violated both state compact agreements and Minnesota criminal law.

The Shakopee Mdewakanton Sioux Community responded to the lawsuit by defending the legality of its gaming operations. The tribal operator denounced Running Aces’ claims as baseless. It also accused the horse racing track of tarnishing the reputation of tribal gaming. 

The Shakopee Mdewakanton Sioux Community confirmed that all gaming offerings at Mystic Lake and Little Six Casinos comply with tribal, federal, and state laws.

This legal clash comes on the backdrop of a broader debate in Minnesota’s legislature over the expansion of gambling, which is focused mainly on sports betting and Historical Horse Racing (HHR). As part of the debate, tracks like Running Aces and Canterbury Park have expressed concerns that they are being sidelined in legislative discussions.

The post Running Aces Expands Lawsuit Against Tribal Casinos appeared first on Keno Wizard.

]]>
https://kenowizard.com/2024/05/15/running-aces-expands-lawsuit-against-tribal-casinos/feed/ 0 7227
April Was a Suboptimal Month for Maryland’s Casinos https://kenowizard.com/2024/05/09/april-was-a-suboptimal-month-for-marylands-casinos/ https://kenowizard.com/2024/05/09/april-was-a-suboptimal-month-for-marylands-casinos/#respond Thu, 09 May 2024 11:04:13 +0000 https://kenowizard.com/2024/05/09/april-was-a-suboptimal-month-for-marylands-casinos/ The revenue generated by Maryland’s casino operators has experienced a significant decline, according to the latest report. As it turns out, the state’s six casinos generated approximately $163.2 million in revenue from table games and slots – a figure that represents a decrease of $11.6 million year-on-year. The gaming industry’s contributions to the state reflected [...]

The post April Was a Suboptimal Month for Maryland’s Casinos appeared first on Keno Wizard.

]]>

The revenue generated by Maryland’s casino operators has experienced a significant decline, according to the latest report. As it turns out, the state’s six casinos generated approximately $163.2 million in revenue from table games and slots – a figure that represents a decrease of $11.6 million year-on-year.

The gaming industry’s contributions to the state reflected the decrease in revenue and declined by almost $2.6 million to approximately $69.8 million.

The figures reported by the casinos show year-on-year declines across the board. Only one casino, namely the Hollywood Casino in Cecil County, managed to beat the odds and report a revenue growth. For context, that property’s revenue increased by 6% to $7.93 million.  

In the meantime, the Live! Casino and Hotel in Anne Arundel Country, a property boasting some 3,800+ slots and approximately 180 table games, experienced a revenue decline of $1.14 million. Despite the slight decline, the property’s overall revenue still stood at $60.86 million.

Ocean Downs Casino in Worchester County, on the other hand, experienced a decline of 7,6% to $7.32 million. MGM National Harbor in Prince George’s County, meanwhile, reported a revenue decline of 9.8% to $68.8 million.

Horseshoe Casino in Baltimore reported a decline of 10.8%. Rocky Gap Casino in Allegany County got the worst of it as its revenue plummeted by 20.6%.

A Man Was Robbed at Horseshoe Baltimore

Speaking of Horseshoe Casino, the property recently became the site of an armed robbery. In late April, a man named Justin was approached by two masked robbers who pointed guns at his head and asked him to give them all of his valuables. Fearing for his life, Justin complied.  

The man later told local news outlets that casino goers should feel safer than that. He questioned the property’s lack of security, saying that the garage is an obvious spot where criminals could strike. However, such areas of “real terror” are currently completely undefended.

In other news, Maryland continues its efforts to legalize online gaming. However, an iGaming bill was deferred to 2026 amid various setbacks.  

The post April Was a Suboptimal Month for Maryland’s Casinos appeared first on Keno Wizard.

]]>
https://kenowizard.com/2024/05/09/april-was-a-suboptimal-month-for-marylands-casinos/feed/ 0 7188
Ohio Casino Revenue Surges in March; Talks of Legalizing Online Casinos Gain Traction https://kenowizard.com/2024/05/07/ohio-casino-revenue-surges-in-march-talks-of-legalizing-online-casinos-gain-traction/ https://kenowizard.com/2024/05/07/ohio-casino-revenue-surges-in-march-talks-of-legalizing-online-casinos-gain-traction/#respond Tue, 07 May 2024 12:42:29 +0000 https://kenowizard.com/2024/05/07/ohio-casino-revenue-surges-in-march-talks-of-legalizing-online-casinos-gain-traction/ The Ohio Casino Control Commission (OCCC) has released its March 2024 revenue report, revealing a notable surge in revenue for the month. The combined taxable revenue from the state’s four casinos amounted to over $94.7 million, marking a significant 13.4% increase from February 2024’s gaming revenue of $83.5 million. Moreover, there’s a modest 1.4% annual [...]

The post Ohio Casino Revenue Surges in March; Talks of Legalizing Online Casinos Gain Traction appeared first on Keno Wizard.

]]>

ohio_casinos_report_surge_in_revenue_The Ohio Casino Control Commission (OCCC) has released its March 2024 revenue report, revealing a notable surge in revenue for the month. The combined taxable revenue from the state’s four casinos amounted to over $94.7 million, marking a significant 13.4% increase from February 2024’s gaming revenue of $83.5 million.

Moreover, there’s a modest 1.4% annual rise in revenue compared to the previous year. It’s worth noting that this revenue encompasses earnings from both slots and table games and excludes in-person sports betting, as online casinos are not yet legalized in Ohio.

While Ohio has yet to legalize online casinos, recent discussions among lawmakers suggest a potential shift in this landscape. Lawmakers have convened to deliberate on the feasibility of legalizing online casinos, citing the state’s interest in this burgeoning sector and the thriving markets already established in neighboring states like Michigan, Pennsylvania, and West Virginia.

Monthly Revenue Surge Across Ohio Casinos

The OCCC’s March 2024 revenue report indicates across-the-board monthly revenue increases for all four casinos. Of the total taxable revenue of $94.7 million, slot revenue contributed $69.0 million, with table games bringing in $25.7 million. Notably, Hollywood Columbus demonstrated the most substantial monthly progress, with a revenue of $25.6 million, reflecting a robust 13.3% monthly growth. Other casinos also saw notable increases in revenue compared to the previous month:

  • Jack Cleveland Casino: $24.5 million in revenue, a 13.3% monthly rise
  • Hollywood Toledo: $22.5 million in revenue, a 16.8% monthly increase
  • Hard Rock Cincinnati: $22.2 million in revenue, up by 10.5% from February

Annual Revenue Trends

Examining the year-over-year performance, there are varied trends among the casinos. Hollywood Toledo and Hollywood Columbus both reported annual rises, with increases of 8.2% and 5.1%, respectively. Jack Cleveland Casino saw a marginal annual increase of 0.4%. However, Hard Rock Cincinnati experienced a notable annual decline of nearly 7.5%, the only casino to do so in March. This contrasts with February, where Jack Cleveland Casino had shown a year-over-year decline.

Recent discussions among Ohio lawmakers have revolved around the possibility of legalizing online casinos. The Study Commission on the Future of Gaming in Ohio, in its initial meetings, has delved into the topic, with upcoming sessions slated to address various aspects, including iLottery, racinos/charitable gaming, sports betting, and daily fantasy sports. Proponents argue that regulating online casinos could aid in addressing issues related to problem gambling while potentially generating significant tax revenue for the state. Estimates suggest that Ohio could generate between $205 million and $410 million annually in new tax revenue if online casinos were legalized.

The success and revenue generated by neighboring states like Michigan and Pennsylvania, where online casinos are thriving, serve as compelling examples for Ohio lawmakers. With these states raking in substantial tax revenues from iGaming, the pressure mounts for Ohio to consider legalizing online casinos, possibly in the near future or by 2025.

Source: “Ohio Casino Control Commission. “Monthly Revenue Report: March 2024.” [pdf]

The post Ohio Casino Revenue Surges in March; Talks of Legalizing Online Casinos Gain Traction appeared first on Keno Wizard.

]]>
https://kenowizard.com/2024/05/07/ohio-casino-revenue-surges-in-march-talks-of-legalizing-online-casinos-gain-traction/feed/ 0 7171
Analyst Optimistic About Century Casinos Amid Market Turbulence https://kenowizard.com/2024/04/11/analyst-optimistic-about-century-casinos-amid-market-turbulence/ https://kenowizard.com/2024/04/11/analyst-optimistic-about-century-casinos-amid-market-turbulence/#respond Thu, 11 Apr 2024 18:29:41 +0000 https://kenowizard.com/2024/04/11/analyst-optimistic-about-century-casinos-amid-market-turbulence/ Century Casinos found itself in the red on April 10 following the release of higher-than-expected US Consumer Price Index (CPI) figures, signaling concerns about persistent inflation. However, despite the market’s reaction, one analyst remains optimistic about the company’s prospects. Macquarie Analyst Predicts 53% Upside for Century Casinos Macquarie analyst Chad Beynon, in a recent report [...]

The post Analyst Optimistic About Century Casinos Amid Market Turbulence appeared first on Keno Wizard.

]]>

Century Casinos found itself in the red on April 10 following the release of higher-than-expected US Consumer Price Index (CPI) figures, signaling concerns about persistent inflation. However, despite the market’s reaction, one analyst remains optimistic about the company’s prospects.

Macquarie Analyst Predicts 53% Upside for Century Casinos

Macquarie analyst Chad Beynon, in a recent report to clients, upgraded Century Casinos from “neutral” to “outperform,” setting a price target of $5 per share. This represents a potential upside of nearly 53% from the current closing price of $3.27. Beynon believes that the recent selloff in Century’s stock, which has seen a 32% decline since the end of last year, is unwarranted.

While the broader market has seen modest gains, Century Casinos’ stock has experienced a significant decline, making it the cheapest operating company in Macquarie’s coverage universe. Beynon attributes this undervaluation to market misconceptions, particularly regarding Century Casinos’ real estate ownership structure.

Century Casinos, operating primarily in regional markets, has faced headwinds but also possesses significant growth potential. Beynon forecasts the company to achieve $168 million in earnings before interest, taxes, depreciation, and amortization (EBITDA) on revenue of $700 million next year. 

Notably, Century Casinos could generate 85 cents per share in free cash flow, an impressive feat given its current market capitalization of $101 million.

The analyst identifies several catalysts that could drive Century Casinos’ rebound, including the opening of The Riverview, Poland’s re-licensing, and the completion of Caruthersville. Additionally, recent acquisitions such as Rocky Gap and Nugget are expected to contribute to medium-term growth.

Strategic Moves Propel Century Casinos Amid Leverage Challenges

Despite concerns about rising leverage due to expansion plans, Beynon remains confident in Century Casinos’ ability to deleverage, marking it as the largest one-year deleveraging opportunity in Macquarie’s coverage. 

The company’s renovation projects and strategic acquisitions are anticipated to yield attractive returns, positioning Century Casinos as a unique value and growth opportunity in the market.

Notably, Century Casinos reported strong fourth quarter and full year 2023 results, with a notable increase in adjusted EBITDAR and net operating revenues.

Despite a slight dip in earnings from operations for the year, the company’s expansion efforts in the US and successful acquisition strategies position it for a bright future, according to co-CEOs Erwin Haitzmann and Peter Hoetzinger.However, investors may need to exercise patience, as Century Casinos’ resurgence is projected to be a 2025 story. However, with a strong earnings outlook and potential catalysts on the horizon, the company’s long-term prospects appear promising.

The post Analyst Optimistic About Century Casinos Amid Market Turbulence appeared first on Keno Wizard.

]]>
https://kenowizard.com/2024/04/11/analyst-optimistic-about-century-casinos-amid-market-turbulence/feed/ 0 7092
Maryland General Assembly Fails to Legalize Online Casinos https://kenowizard.com/2024/04/10/maryland-general-assembly-fails-to-legalize-online-casinos/ https://kenowizard.com/2024/04/10/maryland-general-assembly-fails-to-legalize-online-casinos/#respond Wed, 10 Apr 2024 13:09:53 +0000 https://kenowizard.com/2024/04/10/maryland-general-assembly-fails-to-legalize-online-casinos/ The General Assembly of the American state of Maryland has failed to take action on the prospected legalization of online casinos in the state as it adjourned on April 8 without discussing the matter. That happened despite several stakeholders having expressed interest in that aspect, including iGaming suppliers, operators, vendors and lawmakers, all regarding the [...]

The post Maryland General Assembly Fails to Legalize Online Casinos appeared first on Keno Wizard.

]]>

maryland_online_casino_is_dead_what_else_is_left_for_2024_us_gambling_expansionThe General Assembly of the American state of Maryland has failed to take action on the prospected legalization of online casinos in the state as it adjourned on April 8 without discussing the matter.

That happened despite several stakeholders having expressed interest in that aspect, including iGaming suppliers, operators, vendors and lawmakers, all regarding the prospect of legalizing online casinos in Maryland as a real possibility.

A similar thing happened in the state of Georgia a couple of weeks ago when the General Assembly ended its term without voting on the legalization of online sports betting in the state. Experts were regarding Georgia and Maryland as the two states with the best prospects for legalization of online gambling this Spring.

However, Maryland does have legislation in place regarding online sports betting, it was approved back in November 2020 after the population had its say through a referendum.

Major Hurdles in Other States

There are several other American states which are considering expanding their online gambling legislation, but each one of them seems to have issues that need more time before being completely ironed out.

In Alabama for instance, there is a comprehensive package of bills that aim to legalize lottery, retail casinos and online sports betting in the state. That package of legislation is currently blocked at a conference committee which is tasked with setting fair tax rates for each of those activities and also to solve the problem of gambling exclusivity by the Poarch Band of Creek Indians.

In Maine the General Assembly failed to put two bills to vote that would have given the four tribes in the state control over online casinos and shut two existing land-based venues. Both bills came with divided reports from the committees, so debates are bound to resume when the legislature adjourns on April 17.

The Mississippi Senate witnessed two bills regarding the legalization of sports betting die in its committees while a third was adopted by the Gaming Committee in a strike-all version just to keep the topic alive for now. The legislature in this state will adjourn on 5 May.

Missouri had plenty of sports betting bills being discussed and at least one made it to the House floor to be discussed. That doesn’t mean that the bill is close to being adopted, though, as there is little consensus about its contents within the state legislature.

Pro sports teams in Missouri are trying to collect signatures for a sports betting initiative that would be included in the November ballot, when the American people will elect its next president. The pro sports teams will have to gather 171,592 verified signatures by early May in order to get on the ballot in November.

Source:

“Maryland online casino is dead. What else is left for 2024 US gambling expansion?“, igamingbusiness.com, April 9, 2024.

The post Maryland General Assembly Fails to Legalize Online Casinos appeared first on Keno Wizard.

]]>
https://kenowizard.com/2024/04/10/maryland-general-assembly-fails-to-legalize-online-casinos/feed/ 0 7081
Study Reveals Massachusetts Casinos Fail to Fuel Problem Gambling Surge https://kenowizard.com/2024/04/05/study-reveals-massachusetts-casinos-fail-to-fuel-problem-gambling-surge/ https://kenowizard.com/2024/04/05/study-reveals-massachusetts-casinos-fail-to-fuel-problem-gambling-surge/#respond Fri, 05 Apr 2024 00:42:30 +0000 https://kenowizard.com/2024/04/05/study-reveals-massachusetts-casinos-fail-to-fuel-problem-gambling-surge/ A recent study conducted by the University of Massachusetts Amherst reveals that the introduction of casinos in Massachusetts has not led to a surge in problem gambling, contrary to some expectations.  UMass Research Shows Slight Decrease in Problem Gambling The findings, presented to the Massachusetts Gaming Commission, indicate that despite the proliferation of gambling opportunities, [...]

The post Study Reveals Massachusetts Casinos Fail to Fuel Problem Gambling Surge appeared first on Keno Wizard.

]]>

A recent study conducted by the University of Massachusetts Amherst reveals that the introduction of casinos in Massachusetts has not led to a surge in problem gambling, contrary to some expectations. 

UMass Research Shows Slight Decrease in Problem Gambling

The findings, presented to the Massachusetts Gaming Commission, indicate that despite the proliferation of gambling opportunities, the prevalence of problem gambling remained relatively stable.

The study, led by Rachel Volberg, a research professor at UMass Amherst, compared data collected before and after the opening of three major casinos in the state. Surprisingly, the results showed that the rate of problem gambling actually decreased slightly from 2% in 2013 to 1.4% in 2021 among the adult population aged 18 and over.

Volberg highlighted the impact of COVID-19 on gambling behavior, noting that restrictions imposed during the pandemic reduced overall gambling activity. However, even before the pandemic, the study found no significant increase in problem gambling despite the establishment of new casinos.

Volberg explained that they had hypothesized that exposure to casinos in neighboring Connecticut might mitigate any potential rise in problem gambling. She added that it was reassuring to see their hypothesis confirmed.

At-Risk Gamblers’ Concerns Highlighted in UMass Study

The study also revealed a decline in out-of-state casino patronage, with only 10.2% of respondents in 2021 reporting gambling outside of Massachusetts, compared to 21.5% in 2013. This suggests that the casinos succeeded in keeping more gambling revenue within the state, as intended by the 2011 Expanded Gaming Act.

However, there are concerns regarding the financial impact on at-risk gamblers, who show signs of potential gambling problems but are not yet classified as problem gamblers. The study noted that the proportion of gambling expenditures coming from at-risk gamblers increased significantly, highlighting the need for early intervention and support mechanisms.

Jordan Maynard, interim chair of the Massachusetts Gaming Commission, emphasized the importance of raising awareness about available resources for problem gambling. The study found a significant gap in public awareness of support services, indicating a need for improved outreach efforts.

Despite the overall stable rates of problem gambling, public perception of the gambling industry in Massachusetts has shifted. More residents now believe that gambling is too widely available, with 67.5% expressing this concern in 2021 compared to just 15.6% in 2013.

The study, funded by the Massachusetts Gaming Commission, surveyed over 6,000 adults to provide a comprehensive analysis of gambling trends in the state. While the findings offer reassurance regarding problem gambling rates, they also underscore the importance of continued monitoring and proactive measures to address potential harms associated with gambling.

The post Study Reveals Massachusetts Casinos Fail to Fuel Problem Gambling Surge appeared first on Keno Wizard.

]]>
https://kenowizard.com/2024/04/05/study-reveals-massachusetts-casinos-fail-to-fuel-problem-gambling-surge/feed/ 0 7065
Vegas Casinos Pay Out Millions in Jackpots to Lucky Players https://kenowizard.com/2024/03/05/vegas-casinos-pay-out-millions-in-jackpots-to-lucky-players/ https://kenowizard.com/2024/03/05/vegas-casinos-pay-out-millions-in-jackpots-to-lucky-players/#respond Tue, 05 Mar 2024 14:04:12 +0000 https://kenowizard.com/2024/03/05/vegas-casinos-pay-out-millions-in-jackpots-to-lucky-players/ Casinos on the Vegas Strip and beyond have paid out millions of dollars in jackpots to players over the past few days. This has highlighted the gambling industry’s potential to change lives and reward lucky customers. Lucky Customer Makes It Look Easy, Wins Two Jackpots in a Row Speaking of luck, one of the aforementioned [...]

The post Vegas Casinos Pay Out Millions in Jackpots to Lucky Players appeared first on Keno Wizard.

]]>

Casinos on the Vegas Strip and beyond have paid out millions of dollars in jackpots to players over the past few days. This has highlighted the gambling industry’s potential to change lives and reward lucky customers.

Lucky Customer Makes It Look Easy, Wins Two Jackpots in a Row

Speaking of luck, one of the aforementioned jackpot winners won not one but two jackpots, hours apart. The fortunate player was firing up the reels of slot machines at Caesars Palace Las Vegas when they won their first prize.

After winning $165,000 at 5 am, the player continued playing for a few more hours. Five hours later, the same player struck another prize, this time winning a staggering $545,000.

Overall, the player’s journey to the casino turned into a $710,000 payday. The lucky Caesars customer preferred to remain anonymous and did not disclose their plans for the money.

Caesars Rewards Member Wins Over a Million

Caesars Palace was not the only Caesars-owned Vegas property to pay out a huge jackpot. A week ago, a Planet Hollywood Resort & Casino visitor won a jackpot of over a million dollars.

The customer, who was a Caesars Rewards member, visited the casino to play some Pai Gow Poker. To their surprise, they hit the mega progressive jackpot, receiving a whopping $1,208,521.

For reference, this jackpot was won on February 28.

Casinos Outside the Strip also Made People Rich

Beyond the Vegas Strip, a number of other Vegas casinos also turned their customers’ lives around by paying out huge prizes. These included a $450,600 jackpot from a $10 bet at Red Rock Casino on Friday. The huge prize was won by a lucky Double Double Bonus Poker player.

A day later, Red Rock paid out jackpots to a Super Double Double Bonus Poker player. After winning $200,000, the customer proceeded to play and, mirroring the Caesars Palace player, won a second jackpot, this time scooping up $160,000.

Green Valley Ranch Nevada, on the other hand, paid out $595,800 to a lucky player from Arizona.

Speaking of winners from Arizona, a visitor of the Inn of the Mountain Gods in New Mexico just won a record-breaking award for the casino. After wagering $3.75 on a slot, the woman claimed a huge $1.13 million prize.  

On the topic of jackpots, the Powerball jackpot hit $443 million for the recent drawing and, after not getting claimed, no stands at $485 million. The next drawing is scheduled for March 6.

The post Vegas Casinos Pay Out Millions in Jackpots to Lucky Players appeared first on Keno Wizard.

]]>
https://kenowizard.com/2024/03/05/vegas-casinos-pay-out-millions-in-jackpots-to-lucky-players/feed/ 0 6945