The boss for one of the biggest USA-based casino operators, MGM Resorts has announced that his company is currently working on developing an asset-light business strategy that could see the company offloading its MGM Grand Las Vegas facility. According to one report released by the Las Vegas Review news outlet, this revelation was made by the company’s CEO and Chairman Jim Murren.

As reported, the Las Vegas-based company’s officials had already a meeting with several of the company’s investors where they have discussed the MGM Resorts International’s third-quarter finances among other subjects including contemplating more casino sales. Just last month, this Las Vegas-based giant inked a crucial, thirty-year lease deal which saw MGM Resorts International sell its Bellagio Las Vegas venue.

Selling Bellagio Las Vegas

The three thousand and nine hundred-room Las Vegas facility was sold to one Blackstone Group LP for around $4.2 billion. The selling of its Bellagio Las Vegas venue was prefaced by a very similar $825-million worth business arrangement for the company’s Circus Circus Las Vegas facility which is located nearby Bellagio. As reported by Jim Murren, these financial transactions will be used by his company as crucial blueprints for any other future arrangement of this kind which may relate to its Aria Resort and Casino and MGM Grand both located in Las Vegas.

Such future arrangements also encompass the company’s Vdara Hotel and Spa as well as its MGM Growth Properties and MGM Springfield ventures. The company’s CEO and Chairman Jim Murren said that the company’s latest financial transactions were crucial steps for the company’s new future which does not mean the end for MGM Resorts International.

In his official press release, Mr. Murren said that the company’s Bellagio Las Vegas transaction actually represents much more for his company than a simple, very smart financial decision. He said that it provides a great blueprint for the company’s future deals of this kind. He also added that the company’s process related to monetizing its real estate for the MGM Grand Las Vegas facility is underway while more details on this will be shared soon.

Focusing on Future Casino Sales

According to the company’s boos, the majority of the MGM Resorts International’s proceeds from any upcoming casino sales would be generated to fully support the firm’s already envisioned global rollout of gaming activities including sportsbetting as well as the company’s plan to construct and operate a fully integrated casino resort in Osaka.

Jum Murren also told news outlets that for his company, developing an asset-light business strategy means separating the company’s ownership of lower-return and capital-intensive assets and finally recycling this particular capital into some higher return on its future investments. On the other hand, several newspapers reported that the most recent company’s sale of its Circus Circus Las Vegas venue had put MGM Resorts International into a massive dent.

It was detailed that the company’s third-quarter combined earnings recorded a massive $37 million deficit when compared to the same period last year which has brought a great nine percent increase in generated revenues which amounted to around $3.3 billion. However, the company’s boss described these numbers as in line with the MGM Resorts International’s earlier projections and as solid. He finished his press release by saying that his company would definitely enjoy a brighter financial report for the next fourth-quarter period thanks to its upcoming entertainment offerings.

Both land-based and online sportsbooks active in the state of New Jersey enjoyed a massive increase of around 142% in combined gross gaming revenues from the beginning of 2019 until September. This is a massive success for this entire sector which hit around $445 million while the combines gross gaming revenues for the thirty days-period rose almost 60% to hit the $37 million mark.

The state of New Jersey was among the very first states to legalize sports betting activities within its borders back in June of 2018. This was possible after the US Supreme Court struck down the biggest obstacle to legalized sports betting back in May of 2018. The latest figures related to this sector within the state’s borders show that this eastern state has recorded a total handle of around $4.2 billion in addition to its historical gross revenues of $284 million and around $33 million in taxes.

The dominance of Online Sportsbooks

There are several different factors that helped these rising figures. According to several press releases related to this news, the increasing sports betting figures for the New Jersey gambling market in September were also helped by the start of the hundredth edition of the NFL. With the start of the National Football League, the industry’s monthly aggregated gross gaming revenues broke the previous record of around $31 million which was set in March this year.

Moreover, the beginning of the NFL season also injected around $4.5 million into the state’s budget. Taking into account all of the latest trends, more than 84% of all sports wagers placed in the New Jersey sports betting market were placed online which clearly shows a massive dominance of online sportsbooks over land-based sportsbooks. It should be noted that online sports betting activities within the state’s borders showed a decrease of 1% on a monthly basis.

The latest reports on the topic also reveal that the two locally-licensed and regulated sportsbooks, FanDuel.com, and PointsBet.com as the market leaders generated combined gross gaming revenue of an astonishing $13 million. These increasing figures were followed with aggregated revenues of around $10 million generated by the DraftKings.com platform alongside the FoxBet.com service. The WillimHill.com alongside the PlaySugarHouse.com services which are partnered with Monmouth Park Racetrack generated a combined figure of $2.4 million.

When it comes to the state’s land-based sports betting activities, the bookie located at Meadowlands Racetrack led the pile as its gross gaming revenue for September hit $3.6 million which is a massive 38% rise on a monthly basis. This bookie was closely followed by the Ocean Casino Resorts facility whose monthly takings reached $1.8 million. Moreover, the bookie at Monmouth Park Racetrack was also extremely successful previous month as it generated around $996K in gross gaming revenues in September.

Remaining Highly Optimistic

Considering the constant rise of the online sports betting and land-based sports betting industry in the state of New Jersey, both online and land-based operators that offer their services to US bettors are highly optimistic. It as reported that away from sports betting venues, the state’s online casino and poker sites also saw their gross gaming revenues for the previous month exceed $41 million which represents a great increase of 59%.

These figures significantly surpassed the figures for August which equal around $41 million. In other words, this sector has generated around $339 million since January. With only three months remaining until 2020, aggregated gross gaming revenues from casino and poker sites active in New Jersey are expected to significantly outpace the previous year’s total of $450 million and reach around $675 million which is highly possible considering the consistently rising figures.

Illinois is finally gearing up for its biggest gambling market expansion in recent years. Following the news, all of the state’s major gambling operators have already started accessing their new opportunities for business growth in the state’s ever-growing gambling market. Moreover, all sorts of Las Vegas machine manufacturers are also looking forward to scooping their piece of cake.

At the beginning of this month, the Illinois Legislature finally passed a gambling reform which allows the addition of six new land-based gambling venues including one new land-based casino located in Chicago. This recently passed gambling reform also regulates sportsbetting activities as well as allow the addition of new slot machines at Chicago Midway International and O’Hare International airports.

Furthermore, the reform also allows the addition of more gambling machines at taverns and bars among other places. However, this new legislation piece has to be signed by the state’s Governor J.B. Pritzker. This will probably happen soon considering the fact that the state’s officials have been very supportive of the possible gambling expansion. In other words, the state’s officials believe that the state’s Governor will sign the legislature.

30,000 Additional Video Gaming and Slot Machines in Illinois

As soon as this piece of legislation is signed by the Governor, the state of Illinois will allow more than 30,000 additional video gaming and slot machines to be placed in a number of land-based gambling facilities, bars, taverns, airports, casinos and other. While many gambling operators working within the state’s border are extremely delighted with the news about this gambling expansion, many industry’s experts believe that not all of these newly available positions for slot machines and video gaming terminals will be actually filled.

Experts also agree that this upcoming Illinois gambling reform is more likely to add between 15,000 up to 20,000 new slot machines and video gaming machines across the state. Following this news, Barry Jones who is the SunTrust analyst said that 30,000 slots and video gaming machines could be added within the state’s facilities only if new land-based casino venues get built. In his official statement, Jones also said that he estimated that these new gaming machines could potentially generate up to $224 million in earning if all newly available positions are filled which according to him is not likely to happen.

All Top Manufacturers Closely Following the Expansion

There is no surprise in the fact that all of the top slot machines and video gaming terminals manufacturers are closely following the state’s most recent gambling reform. Following the news, Derik Mooberry who is the Scientific Games Group Chief Executive and Executive Vice President said that all of the most prominent, Las Vegas-based manufacturers are delighted to see this approved bill active as it provides loads of opportunities for each one of them.

Derik Mooberry in his official statement for Las Vegas Review Journal also said that Scientific Games as one of the leading slot machines and video gaming terminal supplier in the entire state’s market will take part in all Illinois gambling market expansion alongside other top manufacturers. Another company which plans on taking part in all aspects of this upcoming gambling expansion is IGT whose Vice President Paul O’Shaughnessy said that his company sees this latest gambling reform as an amazing opportunity to install their slot machine at the state’s airports and among other crowded facilities.

Sportsbook operator and online casino facility, Kindred Group has just announced that sportsbetting fans and enthusiasts located in New Jersey can invest real-money wagers on an impressive range of sports at NJ.Unibet.com. At the moment, Kindred Group which is formerly known as Unibet Group includes eleven different brands and among them Maria Casino, Unibet, iGame and 32Red.

The company is focused on offering all sorts of products and services to fans of online casino games and sportsbetting including online casino facilities, sportsbook platforms as well as online bingo and online poker websites. While the company is currently registered in Malta, it has offices in the United States, Stockholm, London, Gibraltar as well as smaller offices across Australia and Europe.

Going Strong Since 1997

Kindred Group has been present in the industry for more than twenty years as it opened its virtual doors in 1997. Some of the most important events for the company took place in 2011 and 2012 when Unibet gained one of forty-eight licensed for the Danish, newly regulated market. The next year was important as well when Unibet finally acquired a popular Danish sportsbook, Bet24. The next year, Unibet moved its online poker operations from the MPN networks to its independent poker website.

The very next year in April, Unibet signed another important deal this time with Thunderkick which made the platform the very first brand of this kind to include Thunderkick-powered games on its website. Later on, the company also purchased www.bingo.com domain for $8 million. The company’s acquisition trail continued in the following years as well including the acquisition of StanJames.com in 2015 and 32Red Plc in 2017.

Kindred Launching NJ.Unibet.com

The Maltese company in its official press announcement released by European Gaming Media and Events celebrated the recently-launched NJ online sportsbook which is powered by technologies from Scientific Games Corporation, Kambi Group, and Mazooma Incorporated. The platform comes packed with loads of first-class sportsbetting actions offered in a completely safe, reliable and secure gaming environment.

The company is already running numerous Ireland and United Kingdom-facing sportsbetting domains and online casinos while its recent actions mark its very first launch into the online casino industry of The Garden State. Following the announcement, the company’s Senior Vice-President Manuel Stan stated that Kindred has been preparing for this big step for a long time.

He also added that the establishment of NJ.Unibet.com actually represented another important step into what is likely to turn into the biggest betting market globally speaking. Thanks to the company’s latest efforts regarding the New Jersey gambling market, customers residing in this area can finally enjoy all sorts of thrilling online gambling adventures offered on a high-class technology platform.

Manuel Stan also added that this is the very first establishment in a line of many more to come reserved for the market in the United States. It should be noted that the company has previously partnered with SG Digital which allows them to use the Open Gaming System and Open Platform System while its Kambi partnership gives the company access to all sorts of other technologically-advanced sportsbetting-related services and products in New Jersey. In fact, Kambi and Kindred have a successful history together which both companies intend to nourish further and there is no better way of doing so than empowering the United States sportsbetting market together.

American Gaming Association (AGA) has just shared news about their sportsbetting marketing code during an official press release. Following the events that ensued after the Professional and Amateur Sports Protection Act (PASPA) overturn, regulative instructions, covered by this marketing code, brought on by AGA, aren’t obligatory in any legal form. However, the organization’s members are expected to act according to the new set of rules which concern the promotional aspect of sports betting.

Sportsbetting Marketing Code’s Reach

The American Gaming Association is an organization, established to promote, educate, and lobby for the gaming industry by means of advocating and educating. Due to a recent spreading of sports betting, the AGA has developed a sportsbetting marketing code in order to regulate all sports wagering advertisement forms. In creating it, AGA’s members have been consulted with the primary goal to set such rules that result in responsible gaming conditions.

Key points of the code have excluded any sports betting message content that relates to minors by featuring cartoon caricatures, musicians or other public figures who may draw the attention of those below legal age. Also, displaying sports betting ads through media, social media which may attract individuals below legal age as well as being available at other events when is already known minors will be present is against the code.

New AGA regulations also refer to a permanent inclusion of responsible gaming messages and a help-line number. Making a connection between any kind of success and sports betting stands against these regulative guidelines as well. AGA members via their social media should always have reminders of legal age for engaging in sports betting as well as involving age confirmations.

Further Responsibility Commitments

Chief Executive Officer for the American Gaming Association Bill Miller, during the press release, on behalf of his organization, has disclosed that the code represents involvement for the gaming industry in taking precautions as well as a commitment when it comes to responsibility. In other words, this is their way of backing up sportsbetting as well as the gaming industry in general.

In his statement, he also mentioned that they’ve been trying to put an end to illegal gaming activities for quite some time. Their attempts were motivated by customers, economy and to retain the credibility this sector has. With the release of the new marketing code, despite high expectations, they are determined to encourage that all participants, included in the sportsbetting sector, comply with regulations, covered by the code.

New Sports Betting Opportunities

American Gaming Association has offered information about wide interest in sports betting which, after PASPA was struck down by Supreme Court last year, absolutely flourished. In fact, approximately $8 billion was placed in bets within sports wagering that, prior to PASPA being proclaimed as unconstitutional, has been restricted to Nevada’s land-based casinos. In addition, it’s been uncovered that, up till now, about $55.3 million tax revenues, local and state wise, have been accumulated through sportsbetting. Predictions are that the number will only increase per year, especially when more states enter the regulated market.