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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Detroit casino workers are on the brink of a massive strike set to begin at noon on October 17 unless an agreement is swiftly reached between unions and the city’s three major casinos. This development marks the first time in Detroit’s history that casino workers have contemplated such a drastic measure.

Detroit Casino Unions Demand Reasonable Wages Amidst Tech Shift

The unions, including UNITE HERE Local 24, UAW, and Teamsters, have been in intense negotiations with casino management since early September, seeking fair wages, improved healthcare benefits, and job protections amid the implementation of new technologies in the gaming industry.

According to union leaders, casino workers demand wage increases in line with the soaring profits reported by the casinos in 2022 and 2023 after the pandemic-induced shutdowns, reported the Detroit Free Press. Workers argue that fair compensation is essential given the rising cost of living and inflation rates. 

Susan Gallagher, a seasoned bartender at Hollywood Casino at Greektown, conveyed her worries about the potential threat to their jobs posed by technological advancements. She mentioned that they understood they could not halt the progress of technology but emphasized the necessity to safeguard themselves.

The strike threat has shaken up Detroit’s gaming industry and raised concerns about the potential economic impact. 

Patrick Nichols, a dealer at the MGM Grand, shared his worries about the challenging economic climate pointing to the high inflation and cost of living. He noted that the negotiations are a matter of survival.

Detroit Workers Await Fair Contract Amidst Looming Strike Threat

The Detroit Casino Council’s decision to strike comes after months of fruitless negotiations. The council accused casino management of being uncooperative and failing to deliver a fair contract for the workers. While significant progress has been made, an agreement has yet to be reached, leaving casino operations in jeopardy.

Representatives from MotorCity Casino Hotel expressed their commitment to bargaining in good faith and achieving a fair contract. A representative commented that although substantial headway had been achieved, they had not finalized a deal with the Detroit Casino Council. The spokesperson emphasized their dedication to negotiating sincerely and securing a contract that treated their employees fairly while ensuring their company’s competitiveness in the industry.

As the clock ticks down to the strike deadline, the fate of Detroit’s bustling gaming industry hangs in the balance. The workers, resolute in their demands, stand united, hoping for a fair agreement that will secure their livelihoods and the future of their industry.

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The 80% is more specifically 81.4% and represents the sum of €1.58bn even with the company’s[ UK results falling nearly 2% to €1.01bn.

Explaining the rapid jump in numbers, a company statement read: “In Q1 2023, we completed the acquisitions of Camelot UK, the current operator of the UK National Lottery, and Camelot LS Group, the current operator of the Illinois Lottery under a private management agreement. These acquisitions have a significant impact on consolidated metrics of the Group and comparability with previous periods.”

Most Markets Up

Most markets were up for the provider with Italy falling a scant 0.6% while Greece and Cyprus together saw a 14.6% increase to €552.9m, Austria contributing €388.4m, (+19.3%) and home base the Czech Republic producing €125.4m, an increase of 17.2%.

Allwyn CEO, Robert Chvatal commented: “I am pleased to report that Allwyn had a strong start to the year, reflecting our ongoing focus on driving organic growth as well as continued progress in our inorganic growth strategy, with the results of the first quarter including the contribution from a total of seven lottery markets. Meanwhile, we have remained focused on our responsibilities to all our stakeholders and on safer gaming.”

The chief summed up the massive growth in revenues by explaining that 17% came from pre-existing geographic markets as well as first-time contributions from the UK market. The Camelot purchase included not only Camelot UK but also the Camelot LS Group. The latter operates the massive US Illinois lottery under a private management agreement there.

He explained how existing market success was further powered by digital channels as well as physical retail sales and the falling off of some Covid-19 impacts from last year that is no longer affecting current sales.

“We once again saw the resilience of demand for our products, even in an environment where consumer spending remains under pressure. We continued to deliver strong margins and generate robust free cash flow, reflecting our favorable cost structure and focus on cost and capital efficiency. The completion of two landmark acquisitions in the first quarter underscores our continued success in executing our inorganic growth strategy. The acquisition of Camelot UK, the current operator of the UK National Lottery, supports the successful delivery of the National Lottery through 2023 and over the next decade.“

Camelot LS was owned by the Ontario Teachers’ Pension Plan Board of Canada prior to Allwyn’s acquisition. In early December 2021, the Czech gambling group then known as Sazka Entertainment began to conduct business under the corporate identity of Allwyn for all of its properties assets when named as the “preferred bidder” for the fourth UK National Lottery license.

In a short time, the former Czech Republic-based company (now headquartered in Switzerland) has been operating in new markets globally it has included the US through the Illinois lottery, its first foray into the US lottery landscape once wholly dominated by Scientific Games and GTECH/Lottomatica (now IGT via acquisition).

Chvatal explained the importance of expanding lottery operations into such markets: “<Camelot LS Group provides> interesting strategic optionality through its in-house iLottery technology.”

In financial dealings, he noted: “The continued strength of our financial performance supported our successful financing activities after the end of the quarter, with Allwyn issuing €665m and $700m long-dated bonds in a single transaction. This financing represented our first US-dollar bond issuance, further diversifying our sources of funding, as well as significantly extending our debt maturities and further simplifying our capital structure.”

In closing, Chvatal said he was very pleased with the start to 2023 and said it placed the company well for continued success throughout the rest of the year as well as for “the next chapters of our growth story.”

Source: Allwyn Entertainment reports 80 per cent jump in revenues with addition of Camelot G3 NewsWire, June 15, 2023

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Snoop Dogg, the famous rapper and promotional maverick, has been a part of online casino Roobet’s team for a while now. As the casino’s official Chief Ganjaroo Officer, he is participating in the “Make It Rain with Snoop Dogg” campaign which is designed to offer immediate benefits for players at Roobet and help the casino “Snoopify” its offer in a way that boosts engagement and interaction with players.

Snoop Doggy Dogg and Roobet Launch Massive Prize Giveaways

As a result, Chief Ganjaroo and Roobet have launched an initiative that will award more than $420,000 in cash and prizes during the next month as Snoop Dogg celebrates the best day of the year – April 20, a day that commemorates marijuana and is known as 4/20 in slag. To get a chance at a prize, the players would have to try their luck at Snoop’s HotBox, the legendary game that was released in collaboration with Doggy Dogg and the casino to introduce a brand new experience to players.

The game is a Crash-style experience which combines Roobet’s sound game design and Snoop Dogg’s unique voiceover and sound bits. Players stand a chance at winning $100,000 as the grand prize along with so much more, including 100 backstage passes, and meet & greets at upcoming Snoop Dogg shows.

HotBox players will also have the opportunity to get some extra entries into the prize draw, which makes the game even more special. Commenting on this opportunity, Snoop Dogg has welcomed the opportunity to celebrate April 20 with Roobet:

We’re blazin’ a trail, sharin’ the love, and doin’ it Snoop Dogg style. It’s all about surprising the fans and keeping the industry guessing. We’re keeping it 100% Roo.

Roobet Chief Ganjaroo Snoop Dogg

Roobet co-founder Matt Duea was similarly pleased with the opportunity to see April 20 celebrate, calling it a company holiday. He added that Snoop Dogg was a perfect addition to Roobet’s commitment to “doing things differently.”

Roobet loves to step outside of the marketing box, Duea said, and Doggy Dogg is helping the casino with that – plus offering an opportunity to players and fans to get something back in return.

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