Rivers Casino Pittsburgh, one of Pennsylvania’s most influential properties, has turned another person’s life around as it paid out another huge gaming table jackpot to a lucky customer. This was also the highest table game jackpot the casino has ever paid out, surpassing even the $1.2 million bad-beat jackpot recorded in August 2022.

The latest Rivers Casino Pittsburgh jackpot winner was playing Fortune Pai Gow Poker. The game uses a standard playing cards deck but also includes a single joker that can be used as a wild card, substituting for an ace or another card in a straight or flush.

The game sees the dealer deal seven cards to the player and to himself, after which each of them compiles a five-card high hand and a two-card low hand. Under the rules of the game, the high hand must exceed the low hand.

The Player Was Dealt a Seven-Card Straight Flush

The lucky jackpot winner was dealt a seven-card straight flush, containing 4 through 10 of clubs. This exceptional luck landed them a $1.39 million jackpot, which is by far the biggest jackpot Rivers Casino Pittsburgh has ever handed out.

The jackpot was further boosted by the two optional $5 side bets the player had placed. For reference, the two side bets contributed $25,000 and $3,000 to the final payout.

This is notably the first time the full Fortune Pai Gow Poker progressive jackpot has been scored at the casino ever since the vertical was added in April 2017. Prior to the current win, the biggest payout had stood at only $92,186 and was hit in August 2020.

Andre Barnabei, assistant general manager at Rivers Casino Pittsburgh, commented on the matter, describing the property as “the place to win.” Barnabei added that the jackpot has now been reset to $538,791 but noted that this is still a life-changing sum.

In the meantime, lucky Las Vegas visitors recently collected several jackpots. Harry Reid International Airport in Las Vegas once again paid out a huge jackpot, making another customer a millionaire. In addition, a Durango Casino and Resort visitor turned a $0.80 bet into a $10,000 payday. Similarly, an Aliante Casino Hotel Spa visitor was able to win $10,000 after placing a modest $1.80 wager.

Betway, on the other hand, recently gave one player extra reasons to celebrate as they hit a staggering $14.7 million jackpot on Christmas Day.

The post Rivers Casino Pittsburgh Pays Out Its Biggest Jackpot Yet appeared first on Keno Wizard.

The property company has continued to build up its portfolio of options, introducing a $433 million sale-leaseback arrangement with Mechanicsville, Virginia’s Bowlero Corp, and 38 of the bowling centers operated by the latter. The company has been building its revenue steadily, with the company raking in serious results in the third quarter and reporting $556.3 million in funds from operation in Q3 2023.

VICI Properties Beats Forecasts in Q3 2023

Revenue fared even better, as the company posted a 20.3% increase to $904.3 million, beating expectations that put the revenue at $902 million. The new figure was also a significant increase from the $751.5 million from last year’s results.

The company, which is the landlord for some of the biggest Las Vegas casino resorts, including the Mandalay Bay, Caesars Palace, The Venetian, and MGM Grand, has been smartly buying up landmark properties and renting them out to ownership-reluctant gambling companies, who have found not owning a property pay off better in the long term.

VICI President and COO John Payne has been welcoming of the opportunities the changing nature of the business has presented. He said that the REIT has now occupied a place that allowed it to skillfully derive dividends from its Las Vegas properties, but also push into new markets and expand its business.

Payne welcomed the changing nature of Las Vegas, which now included world-class attractions such as The Sphere, and Formula 1 event, and not least, the 2024 Super Bowl, which is going to continue and drive significant results for VICI.

Financially Sound and Ready to Reap Profits

Financially, VICI is also doing very well, with CEO Edward Pitoniak saying during a recent earnings call with journalists that the company was smart about its long-range leverage targets, recently using $1 billion of equity in cash and only $55 million of debt.

Meanwhile, the company has been pushing forward with many acquisitions. This summer, VICI acquired the Rocky Gap Casino, Resort & Golf in Maryland. It also bought four gaming properties by Century Casinos in Alberta, Canada, and consolidated its standing with Canyon Ranch, offering a mortgage loan to help offset some of the costs for the operator, and also ensure that the property remains a sustainable source of revenue that will pay off in the future.

VICI’s FFO guidance for the year now sits between $2.17 billion and $2.18 billion, which is once again ahead. This is still slightly behind the $2.6 billion in revenue posted in 2022, however, which means there is still room for improvement at the heart of one of the biggest landlords for the gambling industry.

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Q2’s impressive growth follows a significant restructuring effort Allied Gaming & Entertainment undertook last year, which aimed to realign its operations and strategic focus for improved financial performance. The company has managed to leverage its newfound financial stability to deliver sustainable financial performance and create a stable foundation for further growth in new and existing markets.

Net Loss Decreased Significantly

Allied’s Q2 revenue recorded groundbreaking growth, rising 182.3% year-on-year to $3.3 million. The company’s multiplatform content operations contributed most to the company’s bottom line, reporting quarterly revenues of $2.0 million. Land-based revenue marked a significantly lower 18.2% increase but remained healthy at $1.1 million.

A lack of foreign currency translation adjustments and a 2.1% decrease in operating costs contributed to a Q2 pre-tax loss of just $691,218, down from $3.8 million for the same period in 2022. Adjusted EBITDA grew accordingly, improving from a loss of $2.7 million in Q2 2022 to a $1.1 million loss.

Q2’s impressive results also contributed to a significantly bolstered first half. Revenue for the first six months reached $4.5 million for a 25% year-on-year increase. With operating costs down 22.0% compared to H1 2022, Allied sits at a net loss of $2.6 million– a significant improvement compared to last year’s $7.5 million loss.

New Initiatives Will Bring Additional Revenue

Q2 2023 marked the second full quarter since Allied Gaming & Entertainment completed its restructuring initiative. The process involved a comprehensive overhaul of the company’s operations, positions, and strategies. Allied aimed to optimize operational efficiency, streamline processes, and enhance the overall customer experience across the company’s offerings in the esports and poker sectors.

These encouraging results indicate a positive trajectory for Allied’s prospects and a hopeful return to profitability. The company founded two new subsidiaries, Allied Mobile Entertainment (AME) and Allied Experiential Entertainment (AEE). These will focus on developing the mobile games market and exploring experiential entertainment venue operations, creating new revenue streams.

We expect that AME and AEE will enable us to break into new markets, creating additional revenue streams and enhancing our financial performance within the next 12 months.

Allied Gaming & Entertainment president and CEO Yinghua Chen 

Although Allied is yet to reach profitability, its recent efforts mark a significant milestone in its recovery efforts. As the company continues to leverage the momentum generated by its restructuring efforts, it is well-poised to capitalize on the continued growth and evolution of the gaming and entertainment industry and achieve sustainable success in a dynamic and ever-changing market landscape.

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The casino has seen massive payouts go out to some lucky players, setting new records in the process. DraftKings said that two whopping jackpots worth millions of dollars were paid last week alone, putting the grand total of jackpots paid out to players since the company launched its progressive jackpot suite in the Garden State at $13.49 million.

Unlocking the Power of Jackpot

It was not just the amount won last week – but also the spectacular nature of some of those bets. One anonymous player managed to turn a $0.10 bet on Microgaming’s Ancient Fortunes: Zeus into a hefty $3.29 million payout, the biggest-ever jackpot win on a single game offered by DraftKings Casino in New Jersey.

The player’s decision to stick to the minimum betting limit has not stopped them from triggering the progressive jackpot and claiming it all the same. This win was not the only noteworthy amount won by a player over the course of the week, however. Another player managed to scoop $1.4 million on a $0.10 bet on 12 Western Horseshoes, the operator said.

The announcement has been made at a time of great importance to the operator. The company has been steadily pushing in the iGaming vertical in the United States, which has been gathering momentum, including in places such as New Jersey. The company is confident that it is now the leading iGaming entity in the United States in terms of gross gaming revenue, and it intends to remain so.

Commenting on the latest developments, iGaming marketing & operations VP Jason March said:

Crowning two millionaires in 24 hours was a monumental week for DraftKings Casino. The ability to give our customers the chance to win a big progressive jackpot on over 100 games makes me so proud of our product.

DraftKings Jason March

Diving Deeper into US iGaming

Meanwhile, DraftKings has been also gearing up with fresh content. The company recently launched its proprietary Auto American Live Roulette to offer a much better overall engagement with its audiences.

The game is available 24/7 and to players at the DraftKings Casino in New Jersey. The arrival of Auto American Live Roulette was hailed by the company as an important step forward in expanding the company’s efforts in the live casino vertical and revealing its own dedicated studio.

“Creating proprietary DraftKings Casino games has always been a core part of our strategy, and exclusive live casino games in this category will expand our reach even further,” the company said.

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