High-profile Bulgarian media companies have raised their voices in opposition to a proposed ban on gambling advertising, expressing concerns over its potential impact on media revenue streams and journalistic freedom. They criticized the government for lacking foresight, alleging that some parties would use the situation to influence the media space before the upcoming elections.

The Changes Could Do More Harm than Good

The new bill calls for a prohibition on gambling advertisements across various media platforms, including television, radio, newspapers, and online sites. While outdoor advertising in specific locations would still be permitted, the proposed ban has drawn criticism from media industry stakeholders who believe the bill does not aim to protect consumers but to suppress freedom of speech.

Former prime minister Nikolai Denkov highlighted the threat the ban poses to media outlets, emphasizing the significant revenue loss and increased dependency on other funding sources it could entail. He also drew attention to rising concerns about the potential suppression of media freedom, with industry experts warning against the adverse effects of legislative interference.

Let’s hope that (the proposal) is an oversight. The worse option is if somebody in a position of power – in this case, legislative power – is trying to strike a targeted blow against media freedom.

Nikolai Denkov, former PM

Leading journalists noted that social media platforms, banners, and targeted advertisements would remain unaffected, expressing concerns over the rising prevalence of underage gambling. They highlighted that vulnerable groups like children did not engage with traditional media, and the bill would only increase the prevalence of gambling ads in the digital space, exacerbating existing issues.

Leading media conglomerate Nova Broadcasting Group expressed apprehension over the ban’s impact on sports broadcasts, particularly those related to high-profile events like the European football championship. Similarly, Net Info group, which operates numerous popular websites in Bulgaria, underscored the potential hardships it would face without gambling-related revenues.

The Association of Bulgarian Broadcasters (ABRO) shared this opinion, cautioning against the ban’s implications for media sustainability, citing the importance of advertising revenue in supporting quality journalism. Meanwhile, the Technology Industry Alliance raised concerns about the ban’s feasibility in enforcing restrictions on internet platforms, citing potential conflicts with EU law.

As demonstrated in other European markets, advertising restrictions lead to an increase in unlicensed operators, consequently impairing the state’s ability to collect taxes from gambling activities and to provide adequate consumer protections.

Stilian Shishkov, Sportal Media Group CEO

As the debate over the proposed ban continues, affected parties are urging policymakers to consider the bill’s broader implications and either consider a substantial overhaul or cancel it. The outcome of the upcoming vote on the ban will likely shape the future landscape of gambling advertising regulation in Bulgaria, necessitating a careful and comprehensive approach.

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Bruce Smith Enterprise and The Cordish Companies secured major approval for their proposed $1.4 billion dollar project, Live! Gaming & Entertainment District. The massive mixed-entertainment project is planned to be located in the City of Petersburg, Virginia, using land near the intersection of Wagner Road and Interstate I-95. The strategic location is expected to help with the visitation to the Live! Gaming & Entertainment District, considering that it provides easy access to one of the most important north-south interstates for the East Coast.

On Thursday, the Cordish Companies and Brice Smith Enterprise received approval for their massive project from the Petersburg City Council. The unanimous approval marks an important achievement for the duo, taking them a step closer to the realization of the ambitious project. Still, prior to commencing the project, the matter must be put up with the voters in the state. It is expected that Virginia voters will have a chance to vote for or against the project in a referendum this year in November.

The massive $1.4 billion project is expected to create more than 7,500 new construction and permanent jobs. At the same time, the Live! Gaming & Entertainment District, Anchored by Live! Casino & Hotel Virginia is expected to generate some $504 million in tax revenue for the first ten years. From that total, some $240 million in taxes are expected to benefit the city directly. Overall, the project is expected to bring $2.8 billion in economic stimulus to the region, turning Petersburg into a go-to gaming, entertainment, hospitality and shopping destination.

The Project Is Expected to Deliver World-Class Entertainment, Hospitality

Provided that the project receives a green light, The Cordish Companies and Bruce Smith Enterprise plan to quickly enter into its first phase, developing and opening a new casino that will immediately create new jobs for the city. Once the initial phase is completed, the Live! Gaming & Entertainment District is expected to offer more than 1,000 slots, a dedicated poker room, a casino bar and 23 live action table games.

“We extend our thanks to the entire Petersburg City Council for its thoughtful decision to select Bruce Smith Enterprise and The Cordish Companies as development partners for this transformative, world-class destination in Petersburg.“

Zed Smith, chief operating officer for The Cordish Companies

Zed Smith, The Cordish Companies’ chief operating officer, thanked the Petersburg City Council for its latest decision to support the companies’ ambitious project. He spoke about the Cordish Companies’ experience in developing large-scale mixed-use casino resorts and developments across the country.

Moreover, Smith added that the collaboration with Bruce Smith Enterprise marks the perfect fit for the company. Last but not least, the executive explained that the two companies are looking forward to collaborating with the City and Commonwealth to deliver exceptional gaming experiences and exciting opportunities.

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The Cordish Companies together with Bruce Smith Enterprise unveiled details regarding Live! Gaming & Entertainment District, a new project with a $1.4 billion price tag located in the City of Petersburg, Virginia. Teaming up, the two companies confirmed their intention to codevelop the luxury gaming, hospitality and entertainment resort that will be positioned near Interstate I-95.

Bruce Smith and The Cordish uncovered details regarding a project that is expected to bring economic benefits to the region after submitting a request for proposal with the City. The new luxury casino and entertainment resort is expected to create thousands of new jobs, including construction and permanent jobs.

Once completed, the world-class Live! Casino & Hotel Virginia resort destination is expected to offer more than 400,000 square feet of gaming, dining and hotel spaces. The gaming amenities would include 1,600 state-of-the-art slot machines, a poker room with 15 tables as well as 46 live-action table games. Moreover, Live! Casino & Hotel Virginia is planned to offer a sportsbook and high-limit table and slot areas, catering to high rollers.

Further amenities the new resort destination in the City of Petersburg is expected to offer include 35,000 square feet of convention and meeting space, as well as an entertainment venue with 3,000 seats that could be used for social gatherings, conventions and meetings.

The premium resort destination would offer free surface parking, as well as a wide range of dining and entertainment options, including three spaces that would be dedicated to local businesses such as restaurants.

The billion-dollar project is estimated to create more than 7,500 construction and permanent jobs and bring $2.8 billion in economic stimulus to the area. According to The Cordish, the annual economic benefits each year after opening would be $201 million.

Two Leading Developers Join Forces

Bruce Smith is a company that has been growing since it was founded two decades ago in 2004. Throughout the years, the company has signed development agreements with recognizable organizations, helping it expand its presence across the country.

Similarly, The Cordish is not a stranger when it comes to the development of large-scale entertainment and casino resorts in the United States. The company is renowned for its dedication to the establishment of world-class destinations that offer not only casino and hotel accommodation but entertainment venues, dining and shopping outlets and more amenities.

“We are incredibly proud to join Bruce Smith and his team to present our vision for a transformational, world-class destination in Petersburg.“

Zed Smith, chief operating officer for The Cordish Companies

In the words of Zed Smith, the chief operating officer for The Cordish, the company is excited to forge this new alliance with Bruce Smith for the development of a new world-class gaming and entertainment destination in the City of Petersburg. He revealed that the company has extensive experience in the development of large-scale mixed-use developments, including casino resorts, across the United States. Finally, Smith said The Cordish remains dedicated to delivering exceptional experiences for its guests.

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Gambling operators should beware as DDoS attacks against gambling companies seem to be ramping up. According to Cloudflare, November and December could prove to be very dangerous months for companies in the sector.

According to the web performance and security company, Q3 saw attacks on gambling companies exceed those on cryptocurrency companies. Such attacks usually target HTTP internet infrastructure, damaging companies’ businesses.   

Cloudflare warned that the total number of DDoS attacks continues to increase, highlighting the need for better security measures. According to the cybersecurity company, it singlehandedly prevented a total of 8.9 trillion HTTP DDoS requests in the third quarter of the year. This figure concerningly represents a 65% quarter-on-quarter increase in the number of attacks.

A total of 5% of the attacks were directed toward gambling companies.

Attacks Are Becoming More Prevalent

Cloudflare noted that the breakthroughs in botting technology allow fraudsters to increase their output and launch more and more attacks every minute. In August, Cloudflare’s network was itself targeted by a huge wave of botnet DDoS attacks.

Many of the attacks seem to originate from the United States, according to official Cloudflare data. According to the company, approximately 36% of L3/4 DDoS attacks were launched from within the US. The second and third places are held by Germany and the United Kingdom where 8% and 5% of the attacks originated, respectively.

While almost half of the attacks were launched from America, Germany and Britain, no country is safe from DDoS attacks. The gambling sector was the main target in Europe, the second biggest target in Asia and Latin America and the third most targeted sector in Africa and the Middle East.

North America and Oceania were the only regions where the gambling industry was not among cybercriminals’ top 3 targets.  

Q3 Saw Three Gambling Giants Suffer Cyberattacks

The damage that cybersecurity threats can cause was recently demonstrated by attacks on several gambling giants. The crypto gaming operator Stake.com suffered one of the worst attacks, causing it to lose tens of millions of dollars in cryptocurrencies.

In America, MGM Resorts and Caesars Entertainment were targeted by cybercriminals. Caesars allegedly paid a ransom. MGM Resorts, meanwhile, struggled with the attack and was forced to temporarily shut down many key systems.

Despite a warning that MGM’s credit score might be lowered, some analysts are very optimistic about the company’s recovery.

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Leading gaming and entertainment operator, The Cordish Companies, announced a major achievement, clearing the path of the company for its expansion into the casino sector in Bossier City, Louisiana. On Thursday, the company revealed that its affiliate, LRGC Gaming Investors, LCC, secured the required regulatory approvals to become a gambling operator in the state from the gambling regulator, the Louisiana Gaming Control Board.

The unanimous approval paved the way for The Cordish Companies’ expansion into Louisiana, allowing it to complete the acquisition of the Diamond Jacks Casino & Hotel in Bossier City. Additionally, the regulatory approval enables the company to start the transformation of the property into a world-class Live! Casino & Hotel Louisiana. The premium entertainment, gaming and leisure location is expected to open at some point in 2025.

At the public hearing with the state’s gambling regulator, Cordish representatives unveiled details regarding the new premium entertainment location. Representing an investment north of $270 million, the new Live! Casino & Hotel Louisiana is expected to offer supreme dining, entertainment, hotel and casino amenities.

The project includes some 550 hotel rooms, as well as a fitness center and resort pool. A wide range of food and beverage outlets will ensure supreme dining experiences, while a 25,000-square-foot multi-purpose state-of-the-art Event Center will be used for social events, meetings and conventions. The premium gaming and entertainment destination will offer surfaced and structured parking as well.

When it comes to gaming amenities, visitors to the new resort will be able to experience more than 40 live-action table games, as well as more than 1,000 slots and electronic table games. A sportsbook will also be available on site, delivering entertainment for sports fans.

The Approval Marks a Milestone Moment for Cordish

Ronnie Johns, Louisiana Gaming Control Board’s chairman, revealed that the regulator is delighted to grant The Cordish a license for their project in Bossier City. “Cordish has an exceptional reputation in providing first rate casino experiences as well as hospitality and entertainment venues across the country,” he added. Johns pointed out that the Board is excited to see the Live! brand enter Louisiana. Finally, he predicted that the casino and entertainment location would propel the growth of the region.

“We’re grateful to the Louisiana Gaming Control Board for their approval and thank them for their consideration and enthusiastic support through this process.“

Joe Weinberg, managing partner at The Cordish Companies

Joe Weinberg, The Cordish Companies’ managing partner, thanked the gambling regulator for their approval and enthusiasm regarding the multi-million-dollar project. “Live! Casino & Hotel Louisiana will be a transformative development that will bring a first-class gaming, dining, entertainment, and hospitality experience, create significant new jobs, and generate millions of dollars in economic benefits for the community,” he explained. Finally, Weinberg said that the company is thrilled to see its massive project advance and become a go-to world-class location for the region.

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Liquor & Gaming New South Wales announced that it will be responsible for overseeing the upcoming cashless gaming technology trial in the Australian state and invited industry bodies to participate. Hosted by The Independent Panel on Gaming Reform, the trial will explore the potential of cashless systems to change gambling in NSW.

According to the announcement the panel has now issued invitations for venues and technology providers to apply to participate in the trial.

Applicants should meet certain standards and must be committed to protecting the market from harm and fraud, the regulator explained.

Applicants should meet the minimum requirements set by the Independent Panel to take part in the cashless gaming trial, including harm minimization protections, anti-money laundering protections, and data security and privacy protections, and specific requirements for venues.

Liquor & Gaming NSW statement

Companies have until October 13 to apply for the trial.

The Trial Will Help NSW See If Cashless Gaming Is Worth Investing In

Cashless gaming has been one of the hot topics of the gambling industry in the Australian state for several months now. Many believe that the statewide implementation of the technology will help to prevent gambling-related fraud while protecting at-risk consumers from harm.

However, certain parties, including local industry groups, remain skeptical of the technology and its potential, with many arguing that it may prove to be nothing more than an expensive risk.

In any case, Liquor & Gaming NSW wants to give cashless gaming a chance and see if the technology can usher in a new era of compliance. The trials will help the authority assess how the solutions operate in practice.

An independent researcher will evaluate the effectiveness of cashless gaming by leveraging customized research methodologies.

Liquor & Gaming NSW hopes that the research will lead to a change in player behaviors, mitigating harm and preventing illicit activities.

Cashless gaming trial runs will run for three or more months, allowing the regulator and independent researcher to gather enough data.

A few days ago, the NSW government allocated $100 million to combat gambling harm as the state seeks to reduce the problem gambling rates. The investment came from the redirection of fines imposed on Star Casino.

The investment is notably a part of the Minns Labor Government Budget and reflects a dedication to preventing gambling harm and gambling-related crime.

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Three and a half years ago, the global COVID-19 pandemic impacted nearly all industries across the globe. The entertainment, hospitality and gambling sectors weren’t spared, and tribal and commercial casinos across the US endured temporary restrictions, including closures. Despite the huge impact of the pandemic on the gaming and hospitality sector, visitation is gradually returning to normal in gaming and entertainment hubs such as Las Vegas.

With the increase in traveling and removal of restrictions over the last two years, Las Vegas has started its recovery as companies seek to surpass financial figures recorded before the pandemic. Judging by a recent report, the global business travel industry is on the right track. Considering an increase in business travel is observed, it is safe to say that Las Vegas operators may also be able to start seeing benefits soon.

The recent report, published by the Global Business Travel Association (GBTA) in partnership with Visa, was titled “2023 GBTA Business Travel Index Outlook – Annual Global Report and Forecast,” and reveals important trends and predictions regarding the global business travel industry. Undoubtedly, this report is relevant for entertainment and gambling operators in Las Vegas, and on the Strip in particular, that offer business amenities such as convention and exhibition spaces.

Rebound of Business Travel Is Faster than Expected

According to the recent report, the global business travel industry has rebounded faster than anticipated. “The global business travel industry has rebounded at a more accelerated rate than expected just a year ago and is now expected to surpass its pre-pandemic spending level of $1.4 trillion in 2024 − and grow to nearly $1.8 trillion by 2027,” explains the new report.

Last year, global business travel spending increased to $1.03 trillion, up by 47%. The positive trend materialized this year as well, with growth expected to reach some 32%. Per the recent report, the positive results come amid an increase in demand after the pandemic and “more favorable global economic conditions in 2022 and 2023 and recession risks that have yet to happen.”

GBTA’s report revealed that business travel recovery recorded different values depending on the region. While Western Europe saw the biggest uptick in 2022, Latin America and North America have been growing their spending significantly too.

“The headwinds that were anticipated to impact the rebound of global business travel over the past year didn’t materialize and that is good news.“

Suzanne Neufang, CEO at GBTA

Suzanne Neufang, GBTA’s CEO, revealed that the challenges that were expected to impact global business travel didn’t happen, which was a good sign. She added the report points to an accelerated return to business travel spending to pre-pandemic levels. Moreover, Neufang predicted further growth for the business travel industry in the next few years.

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Since the $150-million, first-class gaming and entertainment destination Live! Casino Pittsburgh opened its gates in November 2020 under the reputable The Cordish Companies’ brand, the two have set up a $21-million Local Share Account (LSA). The LSA money was used to generate grants that have since reached a number of municipalities and non-profit organizations in Westmoreland County. 

Now, the duo has made all the details of the grants known to the public, giving grant recipients, leaders in the local communities, state legislators, county commissioners, and Hempfield Township representatives many reasons to celebrate. 

Proving their goal to play “an important role in supporting and enhancing the communities” in Philadelphia’s Westmoreland County, the Cordish Companies, the family-owned business with global reach that develops urban revitalization projects and entertainment districts, has announced the destinations of the funds. 

The money reached a series of important projects, including the reconstruction of old bridges, the resurfacing of roads, bringing improvement to local parks and playgrounds, upgrading stormwater and equipment used by local emergency services including the fire department and the police, and more. 

The LSA grant proceeds have three different sources for funding: the Local Share Account Statewide with $12,928,220, the Local Share Account Category 4 Facilities Program for Westmoreland County with $4,021,881, and the Hempfield Township which received an extra $4,021,881. 

The LSA proceeds generated by Live! Casino for fiscal years 2021 and 2022 reached 38 local municipalities and organizations and were used as an important investment for 77 projects in the county while individual grants ranged from $2,850 to $1 million.

The Hempfield Township Casino, “a True Blessing”

According to Douglas Weimer, the vice chair of the Hempfield Township Board of Supervisors, the opening of the Hempfield Township casino has enabled them to “reverse and improve the economy around the mall” while enhancing the resources and services in the local community.

Since its opening three years ago, the Live! Casino facility has generated close to $519 million in investments to the local economy, including $40 million paid in licensing fees, $100 million in construction jobs and expenses, $5.1 million paid as local taxes to the Hempfield Township, $123 million that reached the Pennsylvania Department of Revenue in the form of taxes from gaming, and close to $55 million in employee compensations among others. 

The Cordish Companies’ managing partner, Joe Weinberg, praised the work put in by their team members, along with elected officials and local organizations toward building a “stronger Westmoreland County through our continued partnership.”

Joining in on the celebrations, the general manager for Live Casino, Sean Sullivan, explained that making a positive impact on the local community has always represented a top priority for them. He added they will continue to support local families with more employment opportunities and local charities with the help of donations and volunteering work.

In April, The Cordish Companies introduced their plans for a $250 million casino resort project in Louisiana. In November 2022, The Cordish Companies’ gaming division, Cordish Gaming Group, announced it would share ownership of its mobile sports betting license in Maryland with its employees.

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The Armenian studio and developer of iGaming content have teamed up with QTech Games to bolster its distribution capacities in Asian markets. QTech is a platform with a very strong presence in those specific regions, having been delivering advanced platform solutions for gaming brands in the geolocations for years.

Galaxsys Poised to Conquer New Regions 

Now, Galaxsys will have the opportunity to leverage its portfolio of Skill Games and Fast Games and make sure that it is also better represented, connecting with new audiences, striking new operator partnerships, and generally continuing to grow and expand. 

Galaxsys and QTech are poised to benefit nicely from the partnership as both companies are keen on localizing their products and bringing local players the best possible experience through tailored and native content. 

Commenting on this opportunity, Galaxsys SVP of sales and business Gil Soffer said that he was excited to see QTech Games become a leading distributor partner for the company in Asia:

Our shared commitment to innovation, player engagement, and providing the best possible gaming experience will make this a mutually beneficial partnership. 

Galaxsys SVP of sales and business Gil Soffer

QTech Games CCO Daniel Long was similarly pleased to be adding to his company’s momentum in the highly-dynamic and important Asian market. He noted that introducing content from Galaxsys put QTech in a very strong position to continue providing some of the highest quality games across the board, and spoke highly of particular games.

“So, we’re thrilled to see how Galaxsys has delivered on this challenge, above all with its engaging crash games like the stunning Rocketon,” Long concluded. Presently, Galaxsys is still a fairly small provider of games, with the company running some 18 titles in total, which is not much.

Unmatched Quality of Games by Galaxsys

However, Galaxsys is laser-focused on innovation, which has seen it produce outstanding games such as Crash and Hexagon across the board. Long touted the particular effort that has gone into creating these games. He said that there was a “video game” quality to each and every one of them, making them truly stand out.

Everything – from the return to players to the volatility of the game was tailored and adjusted to bring the highest dividends to partner operators and players. Long was also excited about how Galaxsys’ games would perform in the market and what will follow next.

He similarly said that he was excited to help Galaxsys enter new territories and sign partnerships with new operators. Previously, Galaxsys announced a distribution partnership with Pariplay, with the company determined to continue scaling its offer. 

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Seeking to expand gambling in New York, the state confirmed plans for three downstate casinos earlier this year. The competition is fierce, given that only three licenses are planned but two of them are likely to be secured by existing racinos. This means that it is quite likely major gambling industry players to compete for the single license remaining.

Now, a recent report released by the New York Post reveals that Related Companies revised its plans for a new massive casino mega-complex at Hudson Yards in New York. The project has a price tag of $10 billion, according to Related’s CEO, Jeff Blau. It is expected to feature a luxury hotel with 1,700 rooms within a “resort” tower. This would complement the nearby Javits Center and is expected to help attract more visitors.

More importantly, the project is expected to offer casino gambling with the globally-recognized Wynn named as the operator. The proposed skyscraper project is expected to offer up to 250,000 square feet of gaming floor that will house craps, poker, roulette, as well as blackjack games. Additional amenities the project will include would be retail outlets, as well as fine dining options.

In addition, Related pitched a plan for a 2 million-square-foot office tower that would use a part of the 6.5-acre Hudson Yards located between 11th and 12th Aves. in New York. Still, according to Blau, the “centerpiece” of the billion-dollar project would be the Wynn-branded tower, offering supreme entertainment and hospitality options.

“It will be one of the most incredible tall buildings in New York City.“

Jeff Blau, CEO of Related Companies

The Company Faces Competition

Although Related undoubtedly has an ambitious plan for a downstate casino, competition is certainly not backing out. Only recently, Toom Reeg, Caesars Entertainment’s CEO, spoke about the company’s New York bid for a Times Square casino.

In an interview for News 12, Reeg discussed for the first time publicly the company’s plans for the Caesars Palace Times Square venue. He revealed that the project would include a 52-story skyscraper and will offer a gaming area of 250,000 square feet. Additionally, Caesars Palace Times Square would offer 950 hotel rooms.

But it’s not only Caesars that aims to secure a license in New York. Las Vegas Sands, another major industry player, said last week that it secured a 99-year lease approval from Nassau County. This marked an important step in the company’s plan for a $5 billion-dollar casino project near the Nassau Coliseum located in Uniondale.

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