Casino News

Lake of the Ozarks Casino Closer to Becoming a Reality

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Category: Casino News

Created: Monday, 06 May 2024 20:06

Casino goers in Missouri may no longer have to hope on a riverboat casino for their next casino outing. This is because If the Lake of the Ozarks Casino is approved by the voters of Missouri, the state will see the development of a new resort. One that will include a hotel, casino, spa, restaurants, shops, and a convention center, among other amenities. This project represents a departure from the traditional riverboat model that many other casinos in the state still adhere to.

More than 320,000 voters in Missouri have signed a petition to approve a casino at Lake of the Ozarks. After four unsuccessful attempts to get the casino question on the ballot, it may finally go to the voters.

In Missouri, casinos can only be built near the Missouri and Mississippi rivers, so a constitutional amendment is needed for other waterways to allow gaming. In addition, online casinos are also not legal which makes it tougher for casino players to enjoy their pastime.

The state will now verify the signatures, with approximately 173,000 certified signatures required to proceed to the ballot.

If approved by Missouri voters, the Lake of the Ozarks casino will bring a new resort with a hotel, casino, spa, restaurants, shops, and a convention center, a departure from the traditional riverboat model.

Missouri defines casinos as "excursion gambling boats," but the term is broadly interpreted, allowing for non-floating facilities. In 2021, the definition was amended to include shore-based casinos within 1,000 feet of the Missouri or Mississippi River, with a minimum of 2,000 gallons of water on-site.

Read more: Lake of the Ozarks Casino Closer to Becoming a Reality

Tribal Gaming Revenue Reached $40.9 Billion in 2022

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Category: Casino News

Created: Sunday, 23 July 2023 06:04

According to the latest NIGC report for fiscal year 2022, tribal gaming revenue reached $40.9 billion. It was an increase of 4.9 percent from the previous year. Also, the NIGC pointed out that the industry has an upward trend as they see growth opportunities over time.

However, the NIGC stressed that hasty generalizations should not be made when comparing regional outcomes. According to bookie pay per head sources, the regulator stated that several variables, such as the introduction of new gaming operations, renovations, and expansions of existing enterprises, temporary or permanent closures, and so on, might affect annual performance.

Meanwhile, the record-breaking earnings show that tribal gambling operators can weather tough economic times and contribute significantly to their local communities.

Read more: Tribal Gaming Revenue Reached $40.9 Billion in 2022

Rocky Mountain Gaming to Acquire Two Properties in Cripple Creek

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Category: Casino News

Created: Saturday, 16 December 2023 23:50

Rocky Mountain Gaming signed deals with G Investments and Minter Holdings to acquire two properties in Cripple Creek. Once the Colorado gambling regulator approves the deals, Rocky Mountain Gaming will own Colorado Grande Casino and Johnny Nolon’s Casino.

One of the first casinos in Cripple Creek was Johnny Nolon's. Once Rocky Mountain Gambling owns the Colorado Grande Casino and this establishment, they will control the town's renowned gaming sector. According to pay per head sportsbook reports, the second business purchased two premises with seven hotel rooms and four hundred gaming equipment. Furthermore, the Colorado Grande Casino runs the on-site Maggie's Restaurant.

According to gambling promotions, David Minter's Inter Holdings is responsible for both properties. Minter is the sole owner of Johnny Nolon and the principal owner of Colorado Grande.

Read more: Rocky Mountain Gaming to Acquire Two Properties in Cripple Creek

China’s Casino Crackdown is Part of Quest to Transform Macau

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Category: Casino News

Created: Friday, 24 September 2021 19:33

Many investors were surprised about China’s casino crackdown in Macau. As a result, many foreign investors sold off their casino shares. Also, Beijing’s latest move was part of the quest to transform Macau.

The Chinese government has been trying to control the gambling industry that led to the growth of Macau’s economy. At present, its value is around $24 billion. However, the government didn’t like how casinos became a way for China’s elite to spend their money.

The government tried several ways to curb casino spending. For example, they installed facia-recognition technology in ATMs, limited cash withdrawals, and considered using digital currency. Also, the government is planning to dilute Macau’s dependence on gambling.

China’s Casino Crackdown

In 2019, China released a plan for the Greater Bay Area that included Macau, Hong Kong, and parts of southern China. The goal was to transform Macau into a global tourism and leisure hub. Thus, gamblers’ preferred casinos would turn into traditional Chinese medicine parks, convention centers, and sports stadiums.

Read more: China’s Casino Crackdown is Part of Quest to Transform Macau