Wednesday, July 3, 2013

Atlantic CIty and Philly Casino News

The deadline was June 30th in Atlantic City to declare a partner in an
online gaming agreement. Trump Taj Mahal is teaming up with Ultimate
Gaming. Ultimate just started an operation in Nevada as poker only. They
will expand the New Jersey operation to include table games and slots.
Caesars Interactive is teaming with 888 and Borgata is joined with Bwin
Party. Fertitta Interactive, Chiligaming and Golden Nugget have their own online entity.
As of this post, no report yet of Revel or Tropicana. The launch date is November 26.
The Division of Gaming Enforcement has announced that all 12 casinos
have submitted applications with an online provider. They are not required
to tell with whom. The casinos may release that information when they
choose.
All internet gaming providers must be approved for a license by the end of July.
Poker Stars and the Atlantic Club appear to have severed their purchase agreement. An appellate court ruled against Poker Stars proposed acquisition. The Atlantic Club issued a statement that they are still looking to be involved in online gaming.

Philly gaming news has the six applicants for the second license in Philadelphia under review. Wynn Philadelphia is a prominent member
of this group. The Wynn Resorts announced favorable news about the
proposed project in Everett Ma. The community vote was an
overwhelming 86% of the residents voting in favor of the project.


Below is a statement from Gamal Aziz, President and COO, Wynn Resort
Development.

We believe the wide-spread support we experienced in Everett further validates the strength of our company’s ability to develop unique resorts in urban locations – including Philadelphia.  As a global company, we have the financial capacity, human resource talent and the focus to move forward with multiple projects in cities around the world.   Our success in simultaneously opening both Wynn Encore in Las Vegas and Wynn Macau in China demonstrates our company’s unique ability to develop multiple luxury resorts.  Based on timing and the approval process in Pennsylvania, it is our hope that Wynn Philadelphia will be the first showpiece in our Urban Wynn story.”

The decision of the Massachusetts Legislature to require community approval of gaming developments was a wise one, said Wynn Resorts chairman and CEO Steve Wynn. It is rooted in the common sense notion that for any development to be meaningful, it must have robust support within the community. The voters of Everett have spoken clearly and decisively. The vote heightens our enthusiasm and dedication to this fine project. We thank the voters of Everett for their support and for making all of our efforts so easy.

 

Wynn has said he believes construction at the site could be completed within 28 to 36 months after the commission issues final approval.

 

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