Mohegan, a major entertainment and gaming resort company, has named Nelson Parker as chief strategy officer — a move that represents a significant part of Mohegan’s strategic growth plan. Before being promoted to this position, Parker was senior vice president of strategic development.

Parker Brings Gaming and Hospitality Expertise to Mohegan

Parker came to Mohegan in 2022 after working in different senior-level roles within the gaming and hospitality industries. He was also previously employed at Driftwood Capital as managing director, where he oversaw investments made by its private equity fund focused on hotels.

Additionally, he served as senior VP of corporate development for Penn National Gaming and held various positions such as SVP hotel and casino development at Hard Rock International, vice president of development at Foxwoods Resort Casino, and corporate director of development at Argosy Gaming.

Ray Pineault, president and chief executive officer of Mohegan, welcomed Parker by saying: “Nelson has vast experience and a proven track record in strategic development and growth within the gaming and hospitality sectors. His skills will be invaluable as we continue to expand our footprint globally and explore new opportunities.”

In his new capacity with the organization, Parker will play a key role in identifying global growth opportunities, evaluating their viability and leading all necessary steps to forge these new frontiers. This will entail critically contributing toward future expansion efforts through capital planning while initiating vetting processes which will ensure successful realization across the board. He is expected to work closely with the top management team so that they can aligns strategic initiatives with the long term vision of the firm.

Nelson Parker Joins Executive Team to Drive Global Expansion

Parker who could not hide his excitement about taking up this post added: “I am honored to be a part of Mohegan’s executive leadership team and contribute to the company’s dynamic growth and strategic vision. Leveraging my experience in the gaming and hospitality sectors, I look forward to identifying new opportunities and driving initiatives that will enhance our offerings and expand our global footprint.”

Mohegan has recently made significant strides in expanding its reach, notably with the opening of the INSPIRE resort in Incheon, South Korea, a $1.6 billion project that marks the company’s first foray into Asia. 

Within Mohegan, the promotion of Nelson Parker as part of the bigger trend of strengthening the company’s leadership. Earlier in the year, Joe Hasson was appointed as the interim chief operating officer while Ari Glazer became the chief financial officer, all aimed at building a strong management team during significant growth stages.

In the United States, Canada and Northern Asia, Mohegan runs first-class entertainment resorts. In the US alone there are five such facilities located in various places including Washington, Pennsylvania, New Jersey and Nevada. The company’s iGaming division, Mohegan Digital, delivers advanced online gaming solutions to a global audience. Mohegan also owns and operates the Connecticut Sun, a professional basketball team in the WNBA.

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Global gaming powerhouse BetMGM unveiled the launch of a new slot game that fans in Michigan will be able to try out. The new title is called Rakin’ Bacon Odyssey and was launched in partnership with PlayAGS.

The multichannel game will be exclusively available to retail and online players in the Great Lake State. The slot can be accessed by both BetMGM’s online players and visitors of the MGM Grand Detroit property.

Rakin’ Bacon Odyssey is designed to exemplify the advantages offered by BetMGM’s omnichannel strategy. The game is the latest iteration of the fan-favorite Rakin’ Bacon game that was released by PlayAGS in 2018.

Rakin’ Bacon Odyssey will see the return of Cornsquealius, the series’ iconic golden pig. The game is a 3×5 slot that can expand to 6×5 during the bonus feature. More importantly, the game features a whopping 7,776 ways to win and sports four jackpots that can be won online on BetMGM or at the MGM Grand Detroit casino.

The new game will enhance BetMGM’s library of games, which currently features over 2,700 titles. It will also bolster the fan experience at MGM’s Detroit property, allowing players to enjoy the game on dedicated terminals.

The launch aligns with BetMGM’s strategy to leverage its omnichannel advantage to connect online and land-based casino play.

BetMGM Continues Its Omnichannel Strategy

Oliver Bartlett, BetMGM’s vice president, said that his team is excited to be able to exclusively offer Rakin’ Bacon Odyssey.

Rakin’ Bacon Odyssey is a fantastic example of BetMGM’s omnichannel advantage. We are incredibly proud to be the exclusive online home of the newest version of this popular game in Michigan which has proven to be the top state for iGaming.

Oliver Bartlett, VP, BetMGM

Zoe Ebling, AGS’ vice president of interactive, was likewise excited about the launch and the continued partnership with BetMGM. Ebling described the new game as a “pivotal expansion” for the “iconic golden pig.”

This launch underscores AGS’s unique position as a premier provider spearheading the omnichannel experience. Our commitment to seamless, cross-platform gameplay sets us apart in the industry, allowing us to offer extraordinary gaming experiences that bridge the gap between land-based and online venues.

Zoe Ebling, VP of interactive, AGS

Ebling added that the partnership with BetMGM is not merely about following trends but about setting them.

This is not BetMGM’s first omnichannel experience. In February 2023, the digital brand and MGM Resorts International debuted MGM Riches, which represented the brands’ foray into the multi-channel sector. BetMGM and Borgata Hotel Casino and Spa, on the other hand, launched Dual Play Roulette on BetMGM and Borgata Online Casino in August 2023.

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France’s gambling regulator, Autorité Nationale des Jeux (ANJ), has released its strategic plan for 2024-2026, focusing on a significant reduction in excessive gambling and the associated social damage. Three years after its establishment, ANJ has fully stepped into its role, closely monitoring the market to ensure licensed operators remain compliant.

The French Market Faces Rising Challenges

The first regulation phase under ANJ’s authority concluded in 2023, revealing a thriving gambling market with over €13 billion ($14.1 billion) in turnover, reflecting a growth of over 50% since the market opened in 2011. While gambling has become a widespread consumer product for people of all ages and backgrounds, it also poses risks necessitating the implementation of restrictive regulatory policies.

Despite notable progress by gaming operators in player protection, the prevalence of problem gambling remains significant. The ANJ acknowledges that in 2019, around 1.4 million players were at risk, with nearly 400,000 classified as pathological gamblers. Problem gambling constitutes more than 38% of the sector’s turnover, with 21% attributed to excessive gamblers alone.

The country struggles with black market operators leveraging the lack of regulated iGaming to exploit unwary players. The ANJ estimated that the illegal online gambling sector in France was between 5% and 11%, vowing to take action against this rising threat. The European Gaming and Betting Association (EGBA) has on France to regulate iGaming, noting this was the only way to solve this problem.

ANJ Has Ambitious Goals for the Coming Years

The new strategic plan from ANJ revolves around three key pillars:

1. Drastically Reducing Excessive Gambling: ANJ aims to significantly reduce the share and number of excessive gamblers within the gambling market. This objective requires coordinated efforts from operators and a balanced regulatory policy to strengthen the French model of the gambling market.
2. Fighting Against Illegal Gambling: The second pillar focuses on preserving the transparency and integrity of the sector, primarily through the fight against illegal gambling.
3. Strengthening Economic Dimension of Regulation: The third pillar emphasizes strengthening the economic dimension of regulation to understand market dynamics and provide solutions to current challenges.

The strategic plan’s success relies on sufficient scientific knowledge of the market and gaming practices to guide regulations. Dialogue and cooperation with other stakeholders and regulatory bodies are also necessary, enabling effective, exemplary public action. ANJ president Isabelle Falque-Pierrotin noted that the collaboration remained vital for achieving the regulator’s 2026 goals.

“Reducing the number of excessive gamblers and strengthening the protection of minors… can only be achieved if all stakeholders join forces alongside the regulator.”

Isabelle Falque-Pierrotin, ANJ president

The ANJ’s strategic plan represents a critical juncture for the French gambling market, aiming to strike a balance between openness and protection while addressing the social challenges associated with excessive gambling. The country remains beset by many gambling-related challenges, but the regulator’s confident approach raises high hopes for the coming years.

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However, Asmongold has had no beef with the way Kick is supposedly “reserving” slots and promoting gambling streams. Kick was launched as an alternative by a number of companies and investors who were unhappy with Twitch’s overreaching policy on gambling streams that prohibited specific websites to be advertised while at the same time failing to define what operators were allowed.

Asmongold Remains Pragmatic in Kick Debate  

The streamer, known mostly by his monicker, has said that there was no issue with what a Reddit post he read was suggesting – namely that Kick may be booking slots for gambling streams. That tracked with the overall strategy of the company Asmongold suggested during a stream. His exact words were:

Kick’s recommended seems to reserve the third and fifth spots for gambling streams.’ There’s a chance that could be the case, I mean listen. Obviously, they’re going to make money off of gambling. This is probably smart to do.

Asmongold

Since Kick launched in March, the platform has already won many Twitch stars, demonstrating its ability to start building from the ground up. Amongst its streamers are famous personalities and established content creators such as xQc, Trainwreck, and Amouranth – all of which had a major presence in the Amazon-owned platform prior to heading out for Kick.

Drake, the famous rapper, is also streaming on Kick on occasion, and the platform already attracts a good amount of viewers. Not only that, but Kick has a far more generous revenue-sharing model, which sees the streamers get 95% of the proceeds against 5% of which go to the platform.

This is a clear act of defiance against other established platforms, including Twitch, that offer their streamers a fraction of the proceeds. Asmongold said that he would not be offering any criticism of the way Kick was doing business either.

Twitch Too Has Clear Gambling Affiliations and Ties

He said that the gambling tangent was not really worth bringing up for the simple reason that Amazon too had a partnership with DraftKings, one of the biggest gambling companies in the United States and North America.

Asmongold has even been considering making the move to Kick himself but has remained mostly neutral and has played no favours in the ongoing community debate that sees Twitch and Kick hotly disputed.

Kick has been already banned in Greece, however, precisely because it has too much gambling content. Weirdly enough, the ban does not cover Twitch, suggesting double standards to an extent.

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Gaming and Leisure Properties (GLPI) has published its financial results for the first quarter of the year. The company recorded favorable results with metrics increasing across the board.

As reported by GLPI, the total company revenue increased by 12.7% year-on-year to $355 million. Its income from operations, meanwhile, skyrocketed from $199.8 million in Q1 2022 to $266.8 million in Q1 2023.

The company’s total net income for the period was $188.7 million, representing a stellar 55% increase. The company also recorded adjusted EBITDA of $323.1 million, which translates into a 10% YOY rise.

Adjusted Funds from Operations (AFFO) for the period sat at $248.6 million. The company updated its guidance, saying that it expects AFFO of between $984 million and $997 million for the year ending December 31.

The company also said that it paid its first quarter dividend of $0.72 per share to shareholders as well as a profit dividend of $0.25 per share related to the sale of its Tropicana Las Vegas property.

The first quarter of the year was a time of busy activity for the company. In January, the company called for redemption of its $500 million, 5.375% Senior Notes – a move it completed by February 12.

In January, GLPI also completed the $635 million sale-leaseback of Bally’s Tiverton and Hard Rock Hotel & Casino Biloxi from Bally’s Corporation. The two properties were added to the existing master lease with Bally’s. That same month, GLPI completed a new master lease with PENN Entertainment.

CEO Carlino Praised the Results

Peter Carlino, GLPI’s chair and CEO, commented on the Q1 results, praising the value of his team’s long-term strategy to expand and diversify the company portfolio. He also said that the Q1 growth reflects GLPI’s expansion and diversification into a landlord with 6 tenants with 59 properties across 18 states. Eight of these properties, Carlino noted, were added in 2022 and early 2023.

The CEO said that his team hopes to generate record results in 2023 and continue the ongoing expansion and diversification of its portfolio.

Our disciplined capital investment approach, combined with our focus on stable regional gaming markets, supports our confidence that the Company is well positioned to further grow our cash dividend and drive long-term shareholder value.

Peter Carlino, CEO, GLPI

In February, the company published its Q4 2022 results, once again highlighting the durability of its robust rental streams.

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Boyd Gaming has used digital to enhance its land-based operations in recent years. The Las Vegas (Paradise) Nevada-based company is still owned by family members of founder Sam Boyd who opened his first casino in 1975.

The last week has revealed success in the company’s focus on local Las Vegas gamblers through properties such as the iconic Fremont Hotel & Casino located Downtown in the heart of the Fremont Street Experience and other locals-friendly venues like Gold Coast, Main Street Station, and Sam’s Town.

The company posted Q4 2022 revenues of $922.9m, beating out its $879.8m take for the same quarter last year. The Las Vegas locals market drove the earnings. Net income was up more than 57% with fourth-quarter earnings of $172.7m compared to $109.8m for the fourth quarter of 2021.

Digital Growth Supports Land-based Sector

Keith Smith focused on future earnings opportunities in a recent investor call saying that the company will continue with a strategy of increasing growth in the digital sector in order to further support the land-based casinos.

“We took an important step forward in our online growth strategy with our recent acquisition of Pala Interactive, which gives us the talent and technology to begin building our regional online casino business,” Smith said.

“While online casinos are now limited to just a few states, we believe in the long-term potential from igaming. Owning and operating our own igaming operation will allow us to leverage our nationwide portfolio and extensive customer database to create a profitable online casino business,” he added.

Total Boyd Gaming revenue for the year was up 3.8% to $3.56b, outshining the company’s previous record of $3.70b.

While gaming costs were up and revenue was down slightly, the company more than made up for it in other metrics including food and beverage revenue up 20%, rooms revenue rose 22.7%, and other revenue was up 48.2%.

Focusing on continued organic growth, Smith said: “While the opportunities from online and land-based reinvestments are compelling, we also believe there is upside from continued organic growth in our existing operations, particularly in hotel revenues, meeting, and convention business, and other non-gaming revenues,” Smith said.

Official Exclusive Sponsor of Las Vegas Raiders

Boyd Gaming’s 10 casinos in the Las Vegas Valley were named as the Official and Exclusive Local Casinos of the Las Vegas Raiders and Allegiant Stadium, according to the official website of the LV Raiders, Raider Nation. Boyd Gaming was a Founding Partner of Allegiant Stadium, and the company will get prominent signage and brand placement at Allegiant, including rebranding the west side of the stadium’s upper deck with the company’s brands.

Boyd will be the “presenting partner” of one home game each year, and the weekly radio show will be “Presented by Boyd.” Fans can also expect to see the operator’s name on regular customer promotions, communications, and advertisements.

Keith Smith, President, and Chief Executive Officer of Boyd Gaming said: “Since arriving in Las Vegas, the Raiders have greatly enhanced and strengthened our city’s reputation as the Entertainment and Sports Capital of the World, giving fans across the country another reason to visit southern Nevada. The Raiders have been equally committed to our community off the field, giving back generously to nonprofit organizations and charitable causes across the Las Vegas Valley. Boyd is proud to partner with an organization and team that share our long-standing commitment to the well-being of the southern Nevada community.”

Las Vegas Raiders President Sandra Douglass Morgan added: “We are proud to partner with Boyd Gaming, who share our values of integrity and commitment to community. We know that with this respected partner, we will be able to provide Raider Nation with even more exciting activations and experiences.”

Source: Boyd Gaming named Official and Exclusive Local Casinos of the Las Vegas Raiders and Allegiant Stadium, Raider Nation, February 3, 2023

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