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  • Iowa Lawmakers Push to Ban Cities from Including Casinos in Urban Renewal Plans

    Iowa Lawmakers Push to Ban Cities from Including Casinos in Urban Renewal Plans

    Iowa lawmakers are moving to block cities from incorporating state-licensed gaming projects into urban renewal plans. New bills introduced in both chambers of the legislature on Wednesday aim to prevent casino developments from benefiting from local tax incentives—although the impact on existing projects remains uncertain.

    Proposed Legislation Targets Future Casino Projects

    The proposed legislation would prohibit cities from including casinos in urban renewal plans if their licenses are issued on or after January 1, 2025. This measure comes just weeks after the Iowa Racing and Gaming Commission approved a license for Cedar Crossing Casino, a $275 million project planned in Cedar Rapids.

    City officials confirmed that the casino site falls within an urban renewal district, a designation typically used for economic development, affordable housing, and revitalizing blighted areas. However, developers of the Cedar Rapids casino have stated they are not seeking tax incentives, potentially shielding the project from any direct impact if the bill becomes law.

    State Sen. Scott Webster (R-Bettendorf) emphasized that the legislation would not apply retroactively, meaning the Cedar Crossing Casino likely won’t be affected. “If they’re not asking for TIF (tax increment financing) incentives, this wouldn’t change anything for them,” Webster told The Gazette.

    Cedar Rapids Casino Sparks Tension in Legislature

    The push for this new restriction comes on the heels of a previous effort to freeze casino expansion in Iowa. Lawmakers previously attempted to impose a five-year moratorium on new casino licenses, a measure that cleared the House but ultimately failed in the Senate.

    Webster, who managed that moratorium bill, represents a district that includes two competing casinos: Rhythm City Casino Resort in Davenport and Isle Casino Hotel Bettendorf. Market studies have suggested that a new casino in Cedar Rapids could siphon revenue from these establishments, a concern for legislators representing those regions.

    The timing of this new proposal raises questions. Cedar Rapids Mayor Tiffany O’Donnell expressed frustration, stating that recent legislative efforts appear specifically aimed at derailing the Cedar Crossing Casino project.

    “In light of a series of bills that appear to target Cedar Crossing, we will do as we have from the beginning: Follow the process, adhere to the law, and act in the best interest of the thousands of Linn County voters who twice approved gaming in our community,” O’Donnell said in a statement.

    What’s at Stake for Cities and Casinos?

    Urban renewal areas in Iowa allow local governments to direct resources toward economic revitalization. These areas often rely on tax increment financing (TIF), which enables cities to reinvest tax revenues from new developments into infrastructure and public services.

    While casinos can be lucrative for local economies, lawmakers backing the bill argue that gambling projects should not be eligible for urban renewal incentives, even if they contribute to job creation and tax revenue.

    A few key points stand out:

    • Casinos that receive licenses before 2025 would not be affected by the proposed law.
    • Cities could still designate urban renewal areas, but gaming projects wouldn’t qualify for certain financial incentives.
    • Cedar Rapids’ casino, though located in an urban renewal district, has not applied for TIF funding, potentially rendering this bill irrelevant to its development.

    Next Steps for the Legislation

    Senate Study Bill 1159 and House Study Bill 208 are now set to move through the legislative process, with a public hearing scheduled for 11 a.m. Thursday at the Iowa Capitol.

    Whether the bills gain traction remains to be seen. Previous attempts to curb casino expansion in Iowa have faced resistance, particularly from communities that rely on gaming revenue to fund public projects. However, with some lawmakers pushing to limit casino growth, the debate over gambling’s role in economic development is far from over.

  • Mohegan Challenges Bain Capital’s Takeover of South Korea’s Inspire Resort

    Mohegan Challenges Bain Capital’s Takeover of South Korea’s Inspire Resort

    Mohegan Tribal Gaming Authority is pushing back against Bain Capital’s takeover of its South Korean integrated resort, arguing that the move is not in the best interests of the property, employees, customers, or other lenders. The dispute underscores the financial and operational complexities surrounding the multi-billion-dollar development, which was envisioned as a premier gaming and entertainment destination in Asia.

    Bain Capital Takes Control Amid Financial Tensions

    Bain Capital, the main lender to MGE Korea Limited, seized control of Inspire after accelerating its mezzanine loan. This move effectively handed the U.S.-based private equity firm operational control of the resort, which opened its non-gaming facilities in November 2023 and launched a foreigner-only casino in February 2024.

    Mohegan, however, is pushing back. The company maintains that while the resort has faced “near-term hurdles” typical of large-scale projects, the essential elements for long-term success are in place. It argues that Inspire simply needs more time to reach its full potential.

    Financial Covenant Dispute Heats Up

    Mohegan acknowledged it had fallen short on certain financial covenant tests but was quick to clarify that it has not missed any principal or interest payments. The loan from Bain Capital isn’t due until May 2027, with no required principal payments before then.

    In a statement, Mohegan revealed it had made multiple “good faith proposals” to modify the loan terms in line with industry norms. However, Bain Capital reportedly rejected these offers and instead sought conditions that would prioritize “large payments ahead of other Inspire lenders.”

    The casino operator sees this as an aggressive move, suggesting that Bain Capital is leveraging the situation for financial gain rather than acting in the best interests of the resort’s long-term growth.

    Mohegan’s Broader Commitment to South Korea

    Beyond the immediate dispute, Mohegan is highlighting its broader contributions to South Korea. Since securing its casino license in 2016, the company says it has played a role in job creation, economic development, and regulatory compliance.

    Mohegan emphasized that its approach is based on family ownership values, which prioritize regulatory integrity, public safety, and community engagement. The company insists that these principles were key reasons why South Korean authorities awarded it the license in the first place.

    Negotiations Remain Open, But Uncertainty Looms

    Despite the ongoing dispute, Mohegan says it remains open to dialogue with Bain Capital. The company reiterated its willingness to negotiate in good faith, hoping to reach a resolution that benefits all parties involved.

    “We have been and will continue to attempt to negotiate in good faith with Bain Capital to find a mutually agreeable solution,” Mohegan said.

    At the heart of the conflict is a significant financial burden. As of December 31, 2024, Mohegan’s Korea Term Loan had a face value of $460.7 million, with a book value of $436.9 million. Additionally, a separate Korea Credit Facility, set to mature in 2025, held a face value of $685.9 million and a book value of $669.5 million.

    While Mohegan has acknowledged difficulties in meeting some financial performance targets, it maintains these issues are not related to any failure to meet payment obligations at Inspire.

    The coming months will likely determine the fate of Mohegan’s South Korean ambitions, as negotiations with Bain Capital and interactions with local regulators shape the future of the multi-billion-dollar resort.

  • Churchill Downs Plans $920 Million Expansion Ahead of 154th Kentucky Derby

    Churchill Downs Plans $920 Million Expansion Ahead of 154th Kentucky Derby

    Churchill Downs Incorporated (CDI) is going all in on a massive expansion for its legendary racetrack in Louisville. With a $920 million investment, the company aims to redefine the Kentucky Derby experience by 2028. From upgraded seating to high-end hospitality, this ambitious overhaul is set to make history—just in time for the 154th Run for the Roses.

    A Record-Breaking Bet on the Future

    Fresh off the success of the 150th Kentucky Derby, which brought in an estimated $434 million in economic impact, CDI isn’t wasting time capitalizing on momentum. The planned renovations will be rolled out in phases from 2025 to 2028, with the first steps hinging on approval of financial incentives from local and state authorities.

    In 2025 alone, the company plans to pour $130 million into the upgrades. This is more than just a facelift—it’s a strategic play to secure the long-term growth of the Derby and cement Churchill Downs as a world-class venue for racing and entertainment.

    The Skye Project: Elevating the Derby Experience

    One of the biggest changes will be the transformation of the Skye Terrace into a five-story luxury structure. The Skye Project will:

    • Replace 11,500 uncovered box seats with 13,300 premium seating options
    • Extend from just past the finish line to the First Turn Club
    • Provide alternative premium seating during construction

    While the initial phases will be ready for the 153rd Kentucky Derby in 2027, full completion is set for 2028. The goal? A better, more immersive experience for fans who want a mix of tradition and modern comforts.

    Major Changes Coming to the Infield

    The infield—historically a mix of general admission chaos and temporary suites—is about to see a permanent transformation. The Conservatory Project will replace temporary structures with long-term premium seating, boosting hospitality options from 2,100 to 7,000.

    This shift means more luxury experiences for Derby guests, fewer logistical challenges with setting up temporary facilities, and a better overall flow for one of the most iconic sporting events in the country.

    Phased Rollout: What to Expect Each Year

    Here’s a breakdown of the timeline:

    Year Investment Key Developments
    2025 $130M+ Initial construction approvals, groundwork for Skye & Conservatory projects
    2026 TBD Continued Skye Project development, early Conservatory work
    2027 TBD Partial completion of Skye Project for 153rd Derby
    2028 $920M Total Full completion in time for 154th Derby

    What This Means for Churchill Downs and Kentucky

    For CDI, this expansion is a long-term play. A more luxurious, high-end experience means higher ticket prices, more premium seating, and an overall increase in revenue.

    For Louisville and Kentucky, the move brings more jobs, tourism dollars, and economic growth. As the Derby’s impact has already proven, improvements to Churchill Downs send ripples across the entire region.

    The stakes are high, but if the past is any indication, Churchill Downs is making the right bet.

  • Alabama Sports Betting Bill Struggles to Gain Support in Senate

    Alabama Sports Betting Bill Struggles to Gain Support in Senate

    Efforts to legalize sports betting in Alabama are hitting a wall, with key supporters admitting they don’t have the votes needed to push legislation forward. Sen. Greg Albritton, a long-time advocate for gambling expansion, says he’s short of the 21 votes required in the Senate—and without them, there won’t be a bill.

    No Bill Without the Votes

    Albritton made it clear: if he had the votes, there would already be a bill on the table. But the reality is different. Speaking on Capitol Journal, a local political television show, he didn’t sugarcoat the situation.

    “I would have a bill today dropped if I had 21 votes in the Senate,” Albritton said. “I don’t have 21 votes in the Senate.”

    That’s a tough spot for anyone pushing for legalized sports betting in a state where gambling remains a controversial issue. Alabama is one of just five states without a lottery, and previous attempts to pass gambling bills have all hit roadblocks. Even last year, when the Alabama House approved a gambling package, the Senate shut it down.

    A “Moral Obligation” to Regulate Gambling?

    Albritton is framing the issue as more than just money—he says it’s about responsibility. He believes Alabama has a duty to regulate gambling, not just let it happen in the shadows.

    “Last week, before Sunday’s Super Bowl, bets were being made in the State House,” he said. “I’ll say it that way. Bets were being made.”

    That’s a telling admission. If gambling is already happening—unregulated, untaxed, and outside the law—why not legalize and control it? Albritton even joked about Alabama native Jalen Hurts making people money in the Super Bowl, a reference to widespread betting.

    But moral arguments haven’t been enough to sway the Senate. Even with public interest and growing pressure, lawmakers remain divided.

    Tribal Influence and Political Maneuvering

    One of the biggest question marks in this debate is the role of the Poarch Band of Creek Indians (PCI). They’re Alabama’s only federally recognized tribe, and they’ve been making moves that suggest they’re preparing for gambling expansion.

    • In November 2024, PCI hired Fine Geddie, a powerful lobbying firm.
    • They recently bought Birmingham Racecourse, raising speculation about their intentions.

    Some thought tribal lobbying efforts could tip the scales in favor of gambling legislation. But Albritton says that’s not happening.

    “It doesn’t seem to [help],” he admitted. “I can’t seem to get my 21 votes.”

    That raises a bigger question: what, if anything, could change lawmakers’ minds? If lobbying, public demand, and economic incentives aren’t enough, what will be?

    What’s Next for Alabama Gambling?

    Senate President Pro-Tem Garlan Gudger suggested earlier this year that lawmakers might discuss the issue early in the session if interest was high enough. But with Albritton struggling to find the votes, that seems unlikely.

    For now, Alabama remains stuck in place. No lottery, no legal sports betting, and no clear path forward. Other states are raking in revenue from legalized gambling, while Alabama continues to debate whether to even bring the issue to a vote.

    Unless something changes, sports betting in Alabama will stay exactly where it is: happening behind closed doors, outside of state control, and without contributing a dime to public funds.

  • Hudson Yards Casino Plan Hits Roadblock as Manhattan Borough President Opposes Rezoning

    Hudson Yards Casino Plan Hits Roadblock as Manhattan Borough President Opposes Rezoning

    The ambitious plan to bring a casino to Hudson Yards is facing a significant hurdle. Manhattan Borough President Mark Levine has come out against the rezoning proposal, a crucial step for the project to move forward. His stance adds another layer of uncertainty to Wynn Resorts and Related Companies’ bid, which is one of 11 competing for three coveted downstate casino licenses in New York.

    Housing Concerns Take Center Stage

    Levine’s rejection isn’t about the casino itself but rather the lack of housing in the proposal. He pointed to a 2009 agreement under which Related Companies had committed to building between 3,454 and 5,700 residential units in the Western Rail Yards. The current $12 billion plan, however, only includes 1,500 apartments, with just 324 designated as affordable housing.

    For a borough grappling with a rental vacancy rate below 2% and average rents nearing $5,000 a month, the numbers just don’t add up for Levine. “There is no getting around the fact that we must create more housing, including affordable housing, to meet the need we see across the city,” he said.

    One glaring issue is the expensive infrastructure cost. The site sits atop an active rail yard, meaning a massive $2 billion platform must be built before any development can take place. Related Companies argues that without the casino, the costs make it financially unfeasible to construct additional housing.

    Developers Defend the Proposal

    Despite the pushback, Related and Wynn remain committed to the project. Natalie Ravits, a spokeswoman for Related, said the company has already made four modifications and engaged with local community groups in 10 meetings to address concerns.

    “The site cannot be developed without first paying for the $2 billion platform over the rail yards, and unfortunately, it is simply not viable to pay for the platform with housing,” Ravits explained.

    Developers have emphasized the economic benefits of the casino, including:

    • 5,000 permanent union jobs
    • 35,000 construction jobs
    • Increased tax revenue for the city

    Still, that argument hasn’t convinced everyone.

    Political and Community Opposition Grows

    Levine’s decision doesn’t carry legal weight, but it could significantly influence the final rezoning decision, which lies with the New York City Council. His opinion also matters in another critical way—he appoints one of six members to a community board that will cast a binding vote on the casino proposal this summer.

    For the project to move forward, at least four of the six board members must approve it. If Levine appoints someone opposed to the plan, Wynn and Related would need to win over four of the remaining five members—a tough challenge.

    The project is already facing headwinds:

    • A non-binding community board vote last month came out against it.
    • Friends of the High Line, an advocacy group, opposes the plan, citing concerns about obstructed views and reduced sunlight.

    Levine’s opposition adds another powerful voice to that resistance.

    Other Casino Bids Also Facing Challenges

    The Hudson Yards bid isn’t the only one encountering difficulties. Several other casino proposals in New York City are running into similar zoning and political hurdles.

    Location Developer(s) Key Challenge
    Coney Island Thor Equities & Partners Community opposition
    Bronx Bally’s Corporation Zoning restrictions
    Queens Mets owner Steve Cohen Local government concerns

    As the battle for three casino licenses heats up, the road ahead remains uncertain for all bidders. For now, Hudson Yards developers must find a way to address mounting concerns—or risk seeing their billion-dollar vision fade.

  • 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.

  • World Series of Poker Circuit Returns to Graton Resort & Casino With Over $1.2M in Prize Guarantees

    World Series of Poker Circuit Returns to Graton Resort & Casino With Over $1.2M in Prize Guarantees

    The World Series of Poker Circuit (WSOPC) is making a grand return to Graton Resort & Casino in Northern California this February. Poker enthusiasts will have their shot at 18 WSOPC gold rings from Feb. 13-24, with over $1.2 million in guaranteed prize money on the table. The biggest draw? A $500,000 guaranteed WSOPC Graton main event with a $1,700 buy-in, running from Feb. 21-24.

    A Look Back: Sasha Sabbaghian’s Victory in August

    If history is any indication, this tournament promises intense action. The same event last August drew 580 entries, far surpassing its $500,000 guarantee to create an $877,185 prize pool. In the end, Granite Bay’s Sasha Sabbaghian claimed the top spot, taking home his first WSOPC ring along with a $168,015 payday.

    This February, another wave of poker talent will battle for the coveted gold rings, and the question remains: will a new champion emerge, or will familiar faces reclaim the throne?

    High-Stakes Events With Massive Guarantees

    Graton’s WSOPC series isn’t just about the main event. A diverse schedule offers multiple six-figure guarantees, drawing both seasoned pros and newcomers alike.

    • $250,000 Guaranteed Mystery Bounty ($400 buy-in) – Feb. 13-16
    • $150,000 Guaranteed Monster Stack ($600 buy-in) – Feb. 18-20
    • $150,000 Guaranteed No-Limit Hold’em ($1,250 buy-in) – Feb. 19-20
    • $500,000 Guaranteed Main Event ($1,700 buy-in) – Feb. 21-24

    These tournaments alone make up a major chunk of the $1.2 million prize pool. Expect massive turnouts and dramatic showdowns at the tables.

    More Than Just No-Limit Hold’em

    While No-Limit Hold’em remains the star attraction, Graton’s WSOPC stop has something for every type of player. Specialty tournaments include:

    • Omaha 8/OB ($400 buy-in) – Feb. 18
    • H.O.R.S.E. ($400 buy-in) – Feb. 19
    • Pot-Limit Big O ($400 buy-in) – Feb. 20

    There’s also a Ladies Event ($400 buy-in) on Feb. 20 and two Seniors Events on Feb. 17 and Feb. 24, catering to different demographics of the poker community.

    Full WSOPC Graton Schedule

    For those mapping out their play, here’s the complete event lineup:

    Event Start Date Days Buy-in Guarantee
    No-Limit Hold’em $50K GTD Feb. 13 1 $400 $50,000
    Mystery Bounty Feb. 13 4 $400 $250,000
    Mega Stack Feb. 16 1 $400 $50,000
    No-Limit Hold’em $50K GTD Feb. 16 4 $250 $50,000
    Seniors Event Feb. 17 1 $400 $50,000
    Omaha 8/OB Feb. 18 1 $400 –
    Monster Stack Feb. 18 3 $600 $150,000
    H.O.R.S.E. Feb. 19 1 $400 –
    No-Limit Hold’em Feb. 19 2 $1,250 $150,000
    Pot-Limit Big O Feb. 20 1 $400 –
    Ladies Event Feb. 20 1 $400 –
    Main Event Feb. 21 4 $1,700 $500,000
    No-Limit Hold’em Feb. 22 1 $600 –
    No-Limit Hold’em Feb. 23 1 $400 –
    High Roller Event Feb. 23 2 $3,250 –
    Seniors Event Feb. 24 1 $250 –
    No-Limit Hold’em Feb. 24 1 $400 –

    The Graton Poker Experience

    Graton Resort & Casino, less than an hour north of San Francisco, is no stranger to big-time poker. Owned by the Federated Indians of Graton Rancheria, the casino is a prime poker destination in Northern California’s wine country.

    Its poker room, according to Graton’s official website, is designed for both casual and professional players. Since its inception, players have raked in over $18 million in jackpots and prizes. With 20 tables, lucrative Bad Beat Jackpots, and Daily Bonus Payouts, the Graton poker scene keeps the action going beyond just tournament season.

    The WSOP Circuit stop is just another feather in its cap, drawing national attention and top-tier competition.

  • Phil Hellmuth Says He’s Skipping the WSOP Main Event, Citing Endurance Issues

    Phil Hellmuth Says He’s Skipping the WSOP Main Event, Citing Endurance Issues

    The World Series of Poker (WSOP) just dropped its summer schedule, but the biggest story isn’t about the tournaments—it’s about who won’t be playing. On Tuesday, poker legend Phil Hellmuth, a 17-time bracelet winner, announced he’s sitting out the $10,000 WSOP Main Event for the first time since 1988.

    The reason? Endurance. Hellmuth, now 60, says the grueling format favors younger players, making it nearly impossible for older competitors to keep up. And he’s not happy about it.

    Hellmuth Calls WSOP Main Event an “Endurance Contest”

    Back in 1989, a 24-year-old Hellmuth stunned the poker world by winning the WSOP Main Event, becoming the youngest champion in history at the time. Fast-forward to 2024, and the landscape looks very different.

    “The main event has become an endurance contest,” Hellmuth wrote on Twitter. “Twelve-hour days, or longer, for six to seven days in a row is brutal and disproportionately affects older players.”

    He believes the tournament needs structural changes, arguing that most players—80% by his estimate—would support a revised format that isn’t as physically demanding.

    The 2024 Main Event wrapped up after 15 days of play, including four starting flights, two Day 2 flights, and a day off before the final table. Jonathan Tamayo, 38, ultimately took home the bracelet.

    A Tough Decision After 35 Straight Years

    Hellmuth has played in every WSOP Main Event since 1988. That streak ends in 2025.

    “It’s just too tough,” he said in a video explaining his decision. “People at home are like, ‘Phil, you can play seven days in a row.’ Yeah, try it. Try getting up and playing from noon until midnight seven days in a row.”

    On some days, play extends past 2 or 3 a.m. That kind of grind, Hellmuth says, isn’t something he can physically handle anymore.

    “I don’t think I could have done it at 50, and I definitely can’t do it at 60,” he admitted.

    The Fatigue Factor: A Game of Skill or Stamina?

    For Hellmuth, poker is supposed to be about skill, not who can stay awake the longest. He pointed out that many great players tell him they busted the Main Event simply because they were exhausted.

    “I’ve had players come up to me and say, ‘Phil, I blew the Main Event because I was too tired when we got down to 100 left, 50 left, 30 left.’ It’s turned into an endurance test.”

    Hellmuth’s solution? More scheduled breaks. He believes extra rest days could restore some balance between skill and stamina.

    “I hope that in 2026, there are some changes made so that we can restore more skill and less endurance,” he said.

    A Slump in WSOP Main Event Results

    Hellmuth hasn’t cashed in the Main Event since 2015, when he finished 417th. His latest close call came at WSOP Paradise, where he busted on the money bubble.

    While he remains one of poker’s most accomplished players, the game’s longest marathon appears to be one battle he’s no longer willing to fight.

  • Virginia Casino Revenue Surges 36% in January as Caesars Virginia Leads the Charge

    Virginia Casino Revenue Surges 36% in January as Caesars Virginia Leads the Charge

    Virginia’s casino industry is kicking off 2025 on a high note. The state’s three land-based casinos pulled in a combined $72.3 million in total gaming revenue for January—an impressive 36% jump from the $52.8 million recorded in January 2024, according to the latest Virginia Lottery report.

    The driving force behind this surge? Caesars Virginia in Danville, which has firmly established itself as the market leader after settling into its permanent location.

    Caesars Virginia Dominates with Explosive Growth

    Caesars Virginia came out swinging in its first full month at its permanent site, delivering numbers that far outpaced the competition. The casino’s 1,479 slot machines raked in $21.1 million in adjusted gaming revenue (AGR), marking a staggering 73.2% increase over the same period last year.

    Table games weren’t far behind. The casino’s 137 tables brought in $7.1 million, a strong 46.6% year-over-year increase. Put together, Caesars Virginia posted a total AGR of $28.5 million for the month—an impressive 65.7% surge from January 2024.

    Hard Rock Bristol Sees Strong Gains

    Not to be outdone, Hard Rock Hotel & Casino Bristol also reported significant growth. The property’s AGR climbed 53.3% compared to last year, fueled by strong performances across both slot machines and table games.

    • Slot revenue soared 52.9%, reaching $15.1 million.
    • Table game revenue saw an even bigger jump, rising 54.9% to $3.3 million.

    Hard Rock Bristol continues to solidify its position in Virginia’s casino landscape, drawing steady interest from players and boosting tax contributions.

    Rivers Casino Portsmouth Posts Modest Growth

    While Rivers Casino Portsmouth didn’t see the same explosive gains as its competitors, it still posted a respectable 7.2% year-over-year increase in AGR. The casino brought in $25.2 million for the month, proving it remains a major player in the market.

    Tax Contributions and Community Impact

    With casino revenue climbing, tax collections followed suit. Virginia Lottery officials reported that the state pulled in over $13 million in tax revenue from casino operations in January. Here’s where the money went:

    Fund Allocation
    Problem Gambling Treatment and Support Fund $100,000+
    Family and Children’s Trust Fund $26,000
    Host Cities (combined) $4.3 million
    Gaming Proceeds Fund $8.5 million

    These contributions help support gambling addiction treatment programs, local governments, and state initiatives. With revenues trending upward, Virginia can expect even greater tax contributions in the months ahead.

    Future Casino Expansion Faces Uncertainty

    Virginia’s casino industry might be on the verge of further expansion—if lawmakers get on board. A proposal to bring a casino to Fairfax County had been under discussion, but momentum stalled when the Virginia House decided to table the bill.

    For now, it’s unclear if or when the measure will resurface. A casino in Northern Virginia could be a game-changer, but local opposition and political hurdles could keep the idea shelved for the foreseeable future.