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Category: Gaming

  • GLPI Reports $389.6 Million in Q4 Revenue as Expansion and New Deals Drive Growth

    GLPI Reports $389.6 Million in Q4 Revenue as Expansion and New Deals Drive Growth

    Gaming & Leisure Properties Inc. (GLPI) ended 2024 on a high note, reporting $389.6 million in fourth-quarter revenue—a 5.6% jump from the previous year. The real estate investment trust (REIT), focused on gaming-related properties, also posted a net income increase, climbing to $223.6 million from $217.3 million in 2023.

    Peter Carlino, GLPI’s Chairman and CEO, credited strategic acquisitions and lease agreements for the company’s record-breaking performance. “We generated record fourth-quarter and full-year 2024 results, reflecting growth across all key financial metrics,” he said. The company also reinforced its shareholder commitment by declaring a $0.76 per share dividend, set to be paid on March 28, 2025.

    Property Portfolio Expands with Key Acquisitions

    GLPI’s growth wasn’t just on paper—it added new properties to its expanding portfolio. Two major sale-leaseback deals closed during the quarter: Bally’s Kansas City and Bally’s Shreveport. With these acquisitions, GLPI’s total property count hit 68.

    Carlino described these transactions as a boost to the 2025 balance sheet, anticipating strong long-term value. The company has increasingly relied on sale-leaseback arrangements to enhance its footprint, acquiring real estate assets from operators and leasing them back under long-term agreements.

    The REIT’s ability to execute these deals highlights its financial flexibility. It continues to secure tenants while expanding its hold in the gaming sector, further solidifying its market position.

    Strengthening Financial Position Amid a Tight Market

    Even with a challenging lending environment, GLPI made significant progress in fortifying its financial position. The company successfully expanded its credit facility, increasing it from $1.75 billion to $2.1 billion. The move extends debt maturities through the end of 2028, giving GLPI additional financial breathing room.

    The capital raise comes at a time when many REITs face tightening credit conditions. GLPI, however, has managed to maintain liquidity and favorable financing terms, allowing it to continue executing on its acquisition and development strategy without major disruptions.

    Boyd Gaming Extends Lease Agreements

    Boyd Gaming, one of GLPI’s key tenants, opted to renew its lease agreements for multiple properties, including Belterra Park in Ohio. The extensions lock in Boyd Gaming’s presence at these locations through April 2031.

    The lease renewals provide GLPI with a predictable revenue stream and highlight the strength of its tenant relationships. While the broader gaming industry faces periodic market fluctuations, long-term lease agreements help ensure stability for REITs like GLPI.

    Expanding into Tribal Gaming with a High-Interest Loan

    GLPI is also making a move into tribal gaming real estate. The company finalized a $110 million financing agreement with the Ione Band of Miwok Indians to support a new casino development in California.

    • The loan carries an 11% interest rate, positioning it as a high-yield investment.
    • The agreement includes an option for the tribe to convert the loan into a long-term lease, offering GLPI potential long-term real estate control.
    • The deal marks a strategic expansion into tribal gaming, an area with significant growth potential.

    Tribal gaming has been an increasingly important segment of the U.S. gambling industry, and GLPI’s investment underscores its interest in diversifying revenue sources beyond commercial operators.

    Looking Ahead: What’s Next for GLPI?

    GLPI enters 2025 with momentum and a solid financial outlook. The company remains focused on expanding its portfolio, leveraging sale-leaseback deals, and securing stable tenant agreements.

    Carlino has acknowledged the industry’s financial challenges but expressed confidence in GLPI’s ability to execute its growth strategy. With strong lease agreements, new financing structures, and a willingness to explore emerging markets like tribal gaming, the REIT appears well-positioned for the future.

  • China Pressures Philippines to Tackle Offshore Gambling After Major Raid

    China Pressures Philippines to Tackle Offshore Gambling After Major Raid

  • Uplatform’s Senior Sales Manager Maria Ism to Attend SiGMA Eurasia 2025 in Dubai

    Uplatform’s Senior Sales Manager Maria Ism to Attend SiGMA Eurasia 2025 in Dubai

    Uplatform is gearing up for SiGMA Eurasia 2025, set to take place in Dubai from February 23 to 25. With an expected turnout of over 18,000 delegates, 500+ speakers, and key government representatives, the event promises to be a hotspot for networking and business expansion in the iGaming industry. Representing Uplatform at the event will be Maria Ism, the company’s Senior Sales Manager, bringing her expertise in business development and strategic partnerships to the table.

    Uplatform Eyes New Growth at SiGMA Eurasia

    SiGMA Eurasia has solidified its reputation as one of the most significant events in the gaming and betting industry. The conference brings together operators, suppliers, affiliates, and regulatory bodies, offering them a chance to explore new market opportunities and technological advancements.

    For Uplatform, this is more than just another conference. It’s an opportunity to showcase its sportsbook and casino solutions, which are crafted to help operators expand in competitive markets. The company’s presence underscores its commitment to staying ahead in an industry that thrives on innovation and adaptability.

    Maria Ism, who boasts over six years of experience in iGaming, will be at the forefront of Uplatform’s engagement at SiGMA Eurasia. Her role? To connect with potential partners, discuss tailored solutions, and highlight strategies that help operators boost engagement and revenue.

    Maria Ism: Bringing Industry Insights to the Table

    Maria’s expertise lies in building strong business relationships and helping operators navigate the complexities of market expansion. At SiGMA Eurasia, she’ll be offering insights into Uplatform’s diverse offerings, including:

    • Comprehensive sportsbook and casino solutions
    • Strategies to enhance player engagement and retention
    • Growth tactics tailored to emerging markets

    Maria believes Dubai’s rapid development and ambition reflect Uplatform’s own approach. “We don’t just follow trends—we help operators stay ahead,” she stated. Her presence at the event will allow businesses to explore practical strategies that drive success.

    What Makes SiGMA Eurasia a Must-Attend Event?

    SiGMA Eurasia isn’t just about discussions—it’s about action. The conference provides an invaluable space where industry leaders exchange ideas, close deals, and set the stage for future innovation.

    Why does it matter for gaming operators and service providers?

    • Massive networking opportunities: With thousands of delegates attending, the event creates endless possibilities for collaboration.
    • Market expansion insights: Operators gain firsthand knowledge of trends shaping iGaming in the Middle East and beyond.
    • Government presence: With high-level officials attending, the event also touches on regulatory developments that impact global gaming operations.

    For Uplatform, being at the forefront of such an event isn’t just beneficial—it’s essential. The company’s solutions are built to adapt to diverse markets, and SiGMA Eurasia offers the ideal setting to introduce these innovations to a global audience.

    Booking a Meeting with Uplatform at SiGMA Eurasia

    For those looking to discuss growth strategies and business opportunities, Maria will be available for in-person meetings throughout the event. Interested parties can schedule a session in advance to explore how Uplatform’s solutions can support their operations.

    As competition in the iGaming sector intensifies, strategic partnerships and innovative technology make all the difference. Uplatform’s presence at SiGMA Eurasia 2025 signals its ongoing commitment to pushing the industry forward.

  • SPiCE South Asia 2025 to Bring Gaming Industry Leaders to Sri Lanka

    SPiCE South Asia 2025 to Bring Gaming Industry Leaders to Sri Lanka

  • U.S. Commercial Gaming Revenue Hits Record $71.9 Billion in 2024

    U.S. Commercial Gaming Revenue Hits Record $71.9 Billion in 2024

    The U.S. commercial gaming industry soared to new heights in 2024, pulling in a record-breaking $71.92 billion, marking its fourth straight year of growth. A report from the American Gaming Association (AGA) shows that while the sector expanded by 7.5% from 2023, signs of a slowdown are beginning to emerge, particularly in sports betting.

    With tribal gaming revenue yet to be added, total U.S. gaming revenue is on track to approach an astonishing $115 billion. But even as the numbers climb, December’s decline in sports betting hold rates signals a possible shift in momentum.

    Traditional Casinos Hold Strong, But Online Gaming Gains Ground

    Brick-and-mortar casinos are still the backbone of the industry, bringing in $50.32 billion—roughly 70% of the total commercial gaming revenue. Slots were the main driver, pulling in $36.06 billion, a modest 1.6% increase from the previous year. Table games, however, took a hit, slipping 1.7% to $10.14 billion.

    Online gaming, though, is growing at an incredible pace. The sector, which includes online casinos and sports betting, accounted for 30% of total revenue, pulling in $21.54 billion.

    • iGaming (online casino games) surged 28.7% year-over-year to $8.40 billion.
    • Sports betting revenue climbed 25.4%, reaching $13.71 billion.
    • Americans wagered a record $147.91 billion on sports, with 95% of bets placed online.

    December’s unexpected 2% revenue drop, largely due to lower-than-expected sportsbook hold rates, could be an early indicator of market volatility.

    States Cash In, But Growth Varies

    The gaming boom isn’t evenly distributed. Of the 36 commercial gaming jurisdictions, 28 reported record-breaking annual revenues. However, some states stood out with eye-popping growth.

    • Nebraska: Revenue skyrocketed 60.1%, thanks to new casino openings.
    • Virginia: Saw a 32.0% increase, fueled by expanding gaming options.
    • Illinois: Traditional casino gaming revenue jumped 11.0%.

    On the sports betting front, Illinois overtook New Jersey to become the second-largest U.S. market, boasting a 21.1% growth rate. Massachusetts, meanwhile, surged 38.8%, moving into the seventh spot nationwide.

    While most regions saw record gains, Las Vegas Strip revenues declined by 4.4%, signaling possible market saturation or shifting consumer habits. However, other Nevada gaming markets showed resilience:

    • Downtown Las Vegas jumped from the 17th to 13th largest gaming market.
    • Reno-Sparks climbed to the 11th spot.
    • Boulder Strip remained the 10th largest.

    iGaming: The Fastest-Growing Segment

    Online gaming continues to explode, with total revenue reaching $8.41 billion—a 28.7% year-over-year increase.

    • Pennsylvania remains the country’s largest iGaming market, generating $2.71 billion (+28.5%).
    • Michigan and New Jersey both surpassed $2 billion in annual online gaming revenue.
    • Rhode Island launched its iGaming market in early 2024, further expanding the industry.

    The final quarter of 2024 set an iGaming record, raking in $2.38 billion (+33.1% YoY), proving that online gambling is no longer just a niche market—it’s a major force.

    The Price of Illegal Gambling

    Despite the industry’s strong legal growth, illegal gambling continues to be a major concern. AGA President and CEO Bill Miller didn’t mince words about its impact:

    “Illegal operators cost the legal industry $44.2 billion in lost revenue and cheated states out of $13.3 billion in tax money.”

    He called for tougher enforcement, pointing out that illegal operators exploit regulatory loopholes and confuse consumers about what’s legal and what’s not.

    Tribal gaming also remains a key part of the industry’s landscape. Jason Giles, Executive Director of the Indian Gaming Association, highlighted its importance:

    “Indian gaming generated over $42 billion in gross revenues, which directly benefits tribal communities and citizens.”

    The Future of U.S. Gaming

    Chicagoland cemented itself as the third-largest gaming market in the U.S., helped by new casino openings that boosted its growth.

    With online gaming and sports betting continuing their rapid ascent, states will have to balance market expansion with regulatory oversight. And while overall numbers remain strong, the December dip in revenue raises questions about whether the industry’s red-hot growth streak is finally cooling off.

  • Wynn Reports $1.8 Billion in Q4 Revenue, Highlights UAE Focus in Investor Call

    Wynn Reports $1.8 Billion in Q4 Revenue, Highlights UAE Focus in Investor Call

  • Hawaii Lawmakers Shut Down Casino Gambling Proposal—For Now

    Hawaii Lawmakers Shut Down Casino Gambling Proposal—For Now

    Hawaii lawmakers have once again put a firm stop to any plans for casino gambling, shelving a proposal that would have introduced regulated casinos in the state. The bill, which sought to bring gaming to the upcoming Aloha Stadium Entertainment District, faced strong opposition and was ultimately scrapped.

    Senate Bill 893 Fails to Gain Support

    Senate Bill 893, which would have created a Hawaii Gaming Control Commission, was indefinitely deferred on Thursday. The move effectively ends any discussion of legalizing casino gambling in Hawaii—at least for now.

    The bill outlined plans to regulate gaming operations and impose a 15% wagering tax on gross receipts. However, it never gained serious traction among lawmakers.

    State Senator Lynn DeCoite, who announced the decision, made it clear that there was little appetite for casino gambling in Hawaii. “Casino gambling has not always been a favorite subject,” DeCoite said. “Regardless of if we flying to Vegas or flying to any other place, we’ve always had our challenges here in Hawaii.”

    Strong Opposition from Government Agencies

    The proposal faced stiff resistance from multiple agencies and organizations, further dooming its chances.

    • The Department of Commerce and Consumer Affairs opposed the bill, citing regulatory concerns.
    • The Department of the Attorney General raised legal and enforcement issues.
    • The Honolulu Prosecuting Attorney’s Office warned of potential crime and social issues tied to gambling.

    With such a broad coalition of opponents, the bill had little hope of moving forward.

    Applause Signals Relief from Opponents

    When the Senate Committee on Economic Development and Tourism made the decision to defer the bill indefinitely, the reaction in the room was telling. The announcement was met with applause, a clear sign of relief from those who had spoken out against the proposal.

    The move keeps Hawaii as one of only two states—alongside Utah—that do not permit any form of commercial gambling.

    A Long History of Gambling Rejections

    Hawaii has consistently resisted efforts to legalize gambling, despite frequent proposals over the years. The reasons for opposition vary:

    • Concerns over addiction and social harm.
    • The state’s tourism-based economy already thriving without gambling revenue.
    • Fear that casinos could bring organized crime.

    Yet, despite the state’s hardline stance, gambling remains a popular pastime for many residents. Hawaii has some of the highest per capita spending on Las Vegas trips in the nation, with thousands of locals flocking to Nevada casinos every year.

    What’s Next for Gambling in Hawaii?

    With this bill dead in the water, the question remains—will Hawaii ever legalize gambling?

    For now, the answer seems to be no. Lawmakers have consistently shown little interest in the idea, and the latest rejection reinforces that position. However, as financial pressures grow and the debate continues, future proposals are almost inevitable.

    For now, though, Hawaii’s strict stance on gambling remains unchanged.

  • Churchill Downs Opens $100 Million Owensboro Racing & Gaming Venue in Kentucky

    Churchill Downs Opens $100 Million Owensboro Racing & Gaming Venue in Kentucky

    Churchill Downs Incorporated (CDI) has officially unveiled Owensboro Racing & Gaming, a $100 million entertainment complex in Owensboro, Kentucky. The facility, packed with gaming options and dining experiences, is expected to energize the local economy while strengthening the state’s horse racing industry.

    A Major Bet on Kentucky’s Gaming Future

    CDI has been steadily expanding its presence in Kentucky, and this latest venue cements its commitment to the region. The 600-machine gaming hall, featuring historical racing machines (HRMs), a retail sportsbook, and simulcast wagering, offers a fresh entertainment option for residents and visitors alike.

    But it’s not just about gaming. CDI envisions this venue as an economic catalyst, funneling revenues into Kentucky’s purse funding system to support live horse racing. The funds will directly benefit Ellis Park Racing & Gaming in Henderson, ensuring more competitive summer meets in the future.

    Bill Carstanjen, CEO of CDI, highlighted the company’s broader ambitions. “Owensboro’s newest entertainment destination will drive new tourism, entertainment, and economic opportunities in eastern Daviess County,” he said.

    Crowds Brave the Rain for Grand Opening

    The enthusiasm for Owensboro Racing & Gaming was evident from the start. Despite gloomy weather, eager patrons lined up well before sunrise for the grand opening. Angeline Jacobs, the very first in line, arrived at 5:30 AM—almost six hours before the doors opened.

    “I think it’s a great thing because you don’t have to go very far for gaming—it’s just so fun and it’s right here in your backyard,” Jacobs told local media.

    By the time the ribbon was cut, the crowd had swelled to hundreds, proving that interest in the venue was anything but lukewarm.

    Boosting Local Jobs and the Economy

    Beyond the flashing lights of the gaming floor, the project has already made an economic impact. The construction phase generated 200 jobs, while the operational side has created 224 permanent positions.

    Steve Roof, General Manager of Owensboro Racing & Gaming, acknowledged the strong turnout and the local workforce’s role in the project’s success. “The turnout is awesome, especially with the rain and the drizzle—I thought it might be down a little bit, but it is incredible,” he said.

    CDI officials expect the venue, which will operate around the clock, to be a long-term economic driver for the region.

    What’s Next for Owensboro Racing & Gaming?

    CDI isn’t stopping here. The company has hinted at future enhancements to the venue, promising new attractions and entertainment options over time.

    A company spokesperson emphasized the long-term vision in a statement: “We’re thrilled to finally open our doors to the public and to continuously introduce exciting reasons to come back again and again.”

    With CDI’s track record of expanding and refining its gaming properties, it’s likely that Owensboro Racing & Gaming will continue evolving, drawing even larger crowds in the years to come.

  • Google Cracks Down on Gambling Ads with Stricter Compliance Rules

    Google Cracks Down on Gambling Ads with Stricter Compliance Rules

    Google is stepping up its efforts to regulate gambling-related advertising with a major policy overhaul set to take effect on April 14. The new guidelines introduce tighter definitions, country-specific bans, and tougher compliance measures that could permanently suspend violators.

    Clearer Definitions and Tougher Licensing Rules

    Online gambling advertisers will now have to navigate a stricter framework defining what qualifies as gambling content. Any website that directly links to gambling services or facilitates betting in any form will be classified as gambling-promoting content. This includes affiliate and aggregator websites, which will now be limited to providing only informational or comparative content about licensed gambling platforms.

    The new policy places a greater emphasis on valid licensing. Advertisers must notify Google immediately if their gambling licenses are revoked, suspended, or terminated. Failure to do so could lead to account suspension, a move aimed at preventing unlicensed operators from exploiting loopholes.

    Country-Specific Gambling Ad Bans

    Google is moving away from broad regional restrictions and will now explicitly list countries where gambling advertisements are prohibited. Nations such as Bulgaria, China, and Egypt will be on this no-advertising list. This shift provides advertisers with a clearer understanding of where they can legally promote their services and removes ambiguity that previously existed under the “country restrictions” framework.

    Expect a more rigid enforcement approach as Google works to ensure that ads don’t slip through in restricted regions.

    Social Casino Games Face Tightened Regulations

    One of the biggest updates affects social casino games, which often mimic real-money gambling but don’t offer direct cash payouts. These games have operated in a legal gray area, but that’s about to change.

    • Social casino game advertisers must now apply for certification from Google.
    • Advertisers promoting both social casino games and real-money gambling must maintain separate accounts for each category.
    • Real-money gambling ads will no longer be allowed within social casino games or their associated websites.

    Violators of these rules will face Google’s “egregious” classification, which means immediate and permanent account suspension with no chance of reinstatement.

    Mahjong Gambling Now Banned in Asia-Pacific

    Mahjong gambling, a popular activity in many parts of Asia, has now been explicitly prohibited in the Asia-Pacific region. Previously, Google’s policies did not specifically restrict this form of gambling, leaving room for operators to advertise loosely regulated services.

    This update signals Google’s intent to crack down on niche gambling markets that may have previously operated in regulatory gray zones.

    Virtual Currencies and In-Game Items Now Fall Under Gambling Rules

    Casino-style games that use virtual currencies or in-game items with real-world value will now be classified as online gambling under Google’s updated policy. This means that even if a game does not offer direct cash payouts, it can still fall under gambling regulations if players can exchange virtual rewards for real money or other valuable items.

    This shift could impact gaming developers who previously skirted gambling regulations by using alternative currencies instead of direct money transactions.

    A Zero-Tolerance Approach to Violators

    The policy update makes it clear: Google will not tolerate repeat offenders. Severe or repeated violations of the gambling ad policy may result in permanent bans, signaling a zero-tolerance stance on non-compliance.

    Companies involved in gambling-related advertising must now:

    • Ensure their licensing is up to date and immediately report any changes to Google.
    • Obtain proper certification based on the specific gambling category and targeted regions.
    • Adhere to country-specific restrictions to avoid ad disapprovals.
    • Comply with stricter social casino game rules to prevent penalties.

    With these changes, Google is making it clear that gambling advertisers must follow the rules—or risk losing access to one of the world’s largest advertising platforms.

  • High 5 Games Ordered to Pay $25 Million in Landmark Social Casino Lawsuit

    High 5 Games Ordered to Pay $25 Million in Landmark Social Casino Lawsuit