Mississippi’s Tidelands bill has raised concerns about the future of coastal casinos. The bill received unanimous approval from the Senate and has 30 days before a final vote is held.

Senate Bill 2780 passed the Senate on Thursday after receiving two amendments. The first amendment allows cities to control properties on ports and harbors as long as there is not a “gaming component” to them. This means that the state cannot restrict the public use of a coastal property, as long as it is for public purpose.

However, the amendment maintains the points that provide the Secretary of State with control over coastline casinos. Under the new bill, developers must secure a lease from the state, instead of from the local government. Additionally, new casinos cannot be located on or adjacent to sand beaches but still have to be located within 800 feet of the shore. Finally, the casino developer must control all property.

Overall, the bill has the potential to hinder the creation of new casinos, some believe. Critics furthermore claimed that coastal leaders were not consulted about the Tidelands bill, depriving them of their input.

The bill highlighted a discrepancy between the state government and the local governments.

Mississippi’s Government Doesn’t Want to Repeat the Recent Biloxi Hassle

David Blount, chair of the Senate Gaming Committee, ushered in the first amendment to Senate Bill 2780. He explained that the government is not interested in micromanaging local harbors and instead wants to create a “consistent environment” for the casino industry.

His comment echoed the recent approval of RW Development’s casino in Biloxi which was greenlit by the Mississippi Gaming Commission. The project was initiated by a partnership between the developer and the city of Biloxi and Harrison County to rebuild Veterans Avenue Pier. The Secretary of State blocked the initiative – a decision that was later disputed in the Supreme Court. As a result, RW Development was later able to secure approval for adding a casino to the pier.

Mike Thompson, chairman of the Senate Ports & Marine Resources Committee, explained that the Tidelands bill seeks to make sure that nothing precludes government authorities from having exclusive control over their ports and harbors. He acknowledged that the bill has generated concerns among coastal leaders and added a reverse repealer amendment that ensures the bill will have more time for adjustments to be made.

In the meantime, the House version of this measure, HB 1659, passed the House by a landslide after 113 representatives voted in favor of the bill against 6 who opposed it.

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The company, which is one of the world’s tier-one gaming suppliers, has reported revenues that were 20% higher in Q2 2023. The revenues stood at $731 million, posting a significant gain on last year’s results.

Light & Wonder Reports Strength Across the Board in Q2 2023

This achievement marks the ninth consecutive quarter in which Light & Wonder has posted consolidated revenue growth, bringing the company to a $5 million profit from a $150 million loss during the same period last year.

This event was attributed to both the strong performance of SciPlay and iGaming as well as the sale of gaming machines in both North America and Australia, allowing the company to benefit from both of its main verticals. The news was naturally welcomed by Light & Wonder president and CEO Matt Wilson who was excited to see this opportunity shape up:

Our reported numbers continue to validate the investments that we’ve made in our business and demonstrate the significant progress we are making towards our long-term targets.

Light & Wonder president and CEO Matt Wilson

The Global Gaming segment saw a 21% increase in revenues and reached $471 million over the period. Gaming machine sales jumped by 41%, with the North American market driving demand and results. Light & Wonder has delivered a range of solutions for the retail sector, including player systems and table products. Light & Wonder has already been working to increase its presence in the iGaming sector via partnerships with Bang Bang Games, DreamSpin, and more.

Swinging from Loss to Profit in One Year

SciPlay performed remarkably well as well, with the division hitting $190 million, or a 19% gain year-over-year. The company’s iGaming revenue hit another $70 million, or 17% up. This was owing to the company’s performance in the online casino market in the United States, which has been expanding.

Similarly, Wilson spoke about the double-digit top and bottom-line growth that the company has driven across all of its three main pillars of business. Light & Wonder also generated strong cash flow and reduced leverage, Wilson noted, proud of the company’s results. Light & Wonder is also gearing up for an even busier quarter with more events coming where the company will be exhibiting its products in the hopes of driving even stronger business operations.

In the meantime, Light & Wonder has been building up its Environmental, Social, and Governance commitment, as outlined in a new report by the company.

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Each year, the Austrian Brand Value Study evaluates businesses and companies in the country, compiling a top 10 list. Within the 2023 ranking, some 180 Australian brands and companies within 16 different industries were probed. The latest Austrian Brand Value Study by the European Brand Institute ranked the leading international provider of gaming technology, NOVOMATIC, among the most valuable brands in the country.

NOVOMATIC ranked second within the new list and also achieved fourth place in the Sustainable Brand Ranking with an AAA rating. The latest ranking recognizes the company’s commitment to growth, dedication to strategic corporate responsibility, as well as ESG programs. In fact, the top 10 most valuable brands list acknowledged NOVOMATIC’s brand value increase of 13.6% for a single year, the most out of any of the brands on the list.

“NOVOMATIC ranks second among the country’s most valuable brand companies in the current Austrian Brand Value Study of the European Brand Institute (EBI) and also achieves an excellent 4th place in the Sustainable Brand Ranking with an AAA rating,“

reads a statement released by NOVOMATIC

The Company Continues to Grow

Johannes Gratzl, NOVOMATIC’s executive board member, shared his excitement about the latest recognition. He explained that the recognition reaffirms the success of the company’s sustainable corporate strategy and commitment to responsible growth and expansion. “Sustainable brands create trust and are an important basis for our business success against the background of the increasing importance of the sustainability dimension,” outlined Gratzl in conclusion.

“The excellent rankings in both the brand value and the sustainable brand ranking once again prove the success of our sustainable corporate strategy, according to which success can only be achieved by embracing our responsibility.“

Johannes Gratzl, executive board member at NOVOMATIC

Around the globe, the company has approximately 23,900 employees. What’s more, NOVOMATIC has a presence in more than 100 countries, and it is famous as the leading gaming technology group for the Old Continent which increased its brand value to €3.45 billion ($3.74 billion). The only company that leads NOVOMATIC within the new top 10 Austrian brands list was the globally-recognized Red Bull.

Earlier this year, NOVOMATIC was recognized for its innovative products in the latest edition of GAT Cartagena. At the leading event for the Latin American market, the company announced the launch of its innovative NOVOVISION casino management system featuring unique biometric technology.

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