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Updated: 23 min 47 sec ago
Aristocrat Leisure Ltd, based in Australia, has agreed to pay $1.28 billion cash for Video Gaming Technologies. Based in Tennessee, VGT manufactures slot machines primarily for tribal casinos in the U.S. Founded 23 years ago, VGT reported $236 million in revenue for 2013. Reuters (7/6)
Las Vegas Review-Journal (7/6)
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Albert Einstein, German-American theoretical physicist
The Massachusetts Gaming Commission denied a request from Boston Mayor Marty Walsh to delay a decision on a casino license for the Boston area. The four-member panel voted unanimously to proceed with awarding the license in September to either Mohegan Sun or Wynn Resorts. In November, Massachusetts voters face a ballot measure on repealing the state's casino law. "More information is helpful to all voters," said Commissioner Gayle Cameron. "It's the prudent way to proceed." Reuters (7/2)
Moody's Investors Service changed its outlook for the U.S. gaming industry from "stable" to "negative" on Wednesday. On the same day, New York received 17 applications for four casino licenses for upstate New York. "It is important to note that the Moody's report is national in scope, not regional," said Lee Park, a spokesman for the New York Gaming Commission. "Based upon the fact that well over a dozen international entities just applied for four available casino licenses, we are confident in the state of the market in New York." American City Business Journals (7/2)
N.J. state Sen. Stephen Sweeney, a long-time supporter of Atlantic City, N.J., said there is a "very real possibility" that a proposal to expand gaming in the state could be on the ballot next year. However, N.J. Gov. Chris Christie established a five-year moratorium on new gaming locations in 2011, which lasts through early 2016. Supporters of expanded gaming have proposed a casino at the Meadowlands in northern New Jersey. The Record (Hackensack, N.J.) (7/2)
Siri's Casino in Reno, Nev., has partnered with William Hill Race & Sports Book to add sports and race betting. Nevada regulators have to approve the plan before the casino can move ahead with the plan. "Hopefully, it will bring more business in," said Jeff Siri, the owner of the casino. Reno Gazette-Journal (Nev.) (tiered subscription model) (7/2)
Philly.com (Philadelphia) (7/2)
The Philadelphia Inquirer (7/2)
Professional poker player Phil Ivey said skill led to his $9.6 million win in baccarat at the Borgata casino in Atlantic City, N.J. "Each and every penny of defendants' winnings was the result of sheer skill," Ivey's lawyers wrote. Ivey seeks to dismiss a lawsuit filed against him by the casino that alleges Ivey cheated through edge sorting. Las Vegas Sun (7/2)
Jersey City, N.J., is the state's most active municipality on online gaming sites operated by Caesars Interactive Entertainment, according to a report. Caesars operates three websites in the state: HarrahsCasino.com, CaesarsCasino.com and WSOP.com. "Jersey City from month one has been performing well for us," said Seth Palansky, a spokesman for Caesars Interactive. The Jersey Journal (Jersey City, N.J.) (7/2)
Sun International, based in South Africa, plans to purchase an additional stake in the Monticello Grand Casino in Chile. Sun International owns 44.2% of the casino now, and plans to purchase another 44.2% from an Austrian company, as well as 10.5% from minority shareholders. Reuters (7/2)
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In observance of Independence Day in the U.S., SmartBrief will not publish on Friday. Publication will resume Monday.
Mary Shelley, English novelist
Caesars Entertainment unveiled details of its Linq Hotel & Casino, which is slated to open Oct. 30 as a highly social experience. The $223 million renovation of the former Quad Resort & Casino will offer 2,256 rooms and suites, as well as the Linq Promenade with restaurants, bars and retail shops. Las Vegas Review-Journal (7/1)
Boston Mayor Marty Walsh will present his case today for delaying a casino license for the Boston area until after a November ballot initiative that could repeal the state's gaming law. The Massachusetts Gaming Commission will hear Walsh's arguments, and could vote on the matter as early as today. Reuters (7/2)
Aria casino on the Las Vegas Strip has agreed to pay a $100,000 fine for not allowing state regulators watch gaming at a roulette table with high stakes. The regulators did not identify themselves when asked by security guards to leave the area. The Nevada Gaming Commission must approve the settlement. Las Vegas Review-Journal (7/1)
The Upstate Theater Coalition for a Fair Game, a collection of performing arts venues in upstate New York, said it has reached agreements with 10 casino-license applicants. The agreements allow the theaters joint booking agreements with the casinos. Poughkeepsie Journal (N.Y.) (7/1)