Showing posts with label New Jersey. Show all posts
Showing posts with label New Jersey. Show all posts

Sunday, May 3, 2020

Monday Motivation: The Return to Work Blueprint






So far, my Monday Motivation posts have been designed to help us stay the course thru COVID-19. Each one,for the past four weeks, has given concepts and suggestions as to what to we should do in the meantime. Now multiple states are planning some form of re-opening. The last phase in each anticipated re-opening are hotels,casinos and entertainment venues. Since that is the majority of my colleagues and followers, this Blueprint was crafted for the gaming. tourism and hotel industries.

We are fortunate that a large percentage of the aforementioned industries have employees that reside in states that are taking the "let the data determine the date" approach. They include Pennsylvania, New Jersey. New York, Nevada and Michigan. If the numbers of people infected does not get to a level  determined by the state as a green stage then there is no choice but to wait until the pandemic subsides.

So when we return to work, the Blueprint requires that the operators and owners of each organization have placed the ultimate value on the safety and well being of the employees that will be returning to the workplace. They will be the most valuable asset the companies have in helping the business return to pre COVID levels. There should be a meeting that informs everyone via phone, email or zoom as to what the strategic plan will be.

That plan must consist of testing of the staff so everyone can feel save interacting with each other. Step two will require a social distancing policy that must be adhered to without exception. It will include the requirement of wearing a mask to protect the staff and the guests from each other. Step 3 will mandate a dedication to having the cleanest work area conceivable. This will gain public confidence that all measures are being taken to insure safety. Step four has a compulsory level of contact tracing. If there is a reported case of a guest or employee being diagnose with Coronavirus, you can have a general idea as to who that person can in contact with. This will be a proactive method to keep the virus from spreading.

In order for the Blueprint to work, there will be changes to the Standard Operations Procedures (SOP). A level of flexibility must be inherent because of a natural tendency to do things the way we have previously. Unfortunately, we won't have the ability to do that initially. Every one must buy in! If we are practical and patient, we will be thriving and fiscally successful. Each organization will have to develop partnerships to move the business incrementally. I can go into more detail but that should be part of a formal conversation. I have some time now, as most of us do, to welcome such an exchange.

This is the moment where we see the light at the end of the tunnel. If you have missed some of my earlier posts on Monday Motivation, I have included two that will bring you to the level we are now.




                                           When this is over  and Casino Life after COVID 

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Sunday, August 18, 2019

Sports Wagering and Business This Week


This will keep you current with the industry. These post will include trends about the sports betting market and information about what state is planning to offer it next. This will be a winning situation for a sophisticated operator and his constituents.



SugarHouse and Rivers Casino Pittsburgh collaborated with the direction of Rush Street Interactive to start a season long NFL Promotion that will have weekly prizes and a grand prize of $125,000 dollars. The is a fee of $150 per person to enter  with a limit of 25 entries per registrant. This contest is easy and should attract many sports bettors. You have to pick the games straight up and the person with the most wins is in the running for the money. For the weekly prizes, the tie breaker is the total points on the Monday Night Football Game. The second tie breaker is who submitted their entry first. For more details click here.


Parx Casino opened it's Sports Book as part of a 10 million dollar expansion on 8/9. It is a roomy 7400 square feet that includes a 156 foot media wall that can show up to 36 games at one time. There are 18 kiosks,200 seats and 3 VIP areas. 


The initial figures of the online gaming revenue in Pennsylvania are in. Here is the list of how each casino did. The 1st two months show a trend of more bets being placed on line than at the brick and mortar facilities. This replicates how bets are made in New Jersey. I anticipate that the percentage of online bets for Pennsylvania Sports Betting should approach 80% by the end of September. 


In Washington DC ,there will not be any sports betting to start the NFL season. There are still several issues involving logistics and regulations. The interest is high with several bars and small business owners making plans to apply for sports wagering permits that would allow for betting on site. The Monumental Sports and Entertainment appears to be targeting the spring of 2020 to have a venue ready that will include betting on sports and dining.


Iowa is the latest state to introduce sports betting. They will allow mobile gaming anywhere within state borders but to participate you must go to a casino to open an account. You have to register in person. There are several mobile platform providers that include William Hill and Caesars Interactive. Iowa has taken a smart approach by starting to take bets before the onslaught of NFL and College Football.


If you want me in real time you can follow me on Twitter, Facebook, Pinterest and Instagram for updates! You can also see my post on Bettors Insider  one of the top sites for sports betting and gambling.


Saturday, August 4, 2018

What I Gaming will do for Casino Players



We decided to look at what I Gaming will do for the casino patron. Most times we look at new products from the house perspective. But I Gaming will be prevalent in Pennsylvania.New Jersey has  shown outstanding numbers and trends upward every year since it's inception. Pennsylvania should do the same.
So how does this benefit the players? It will make gaming more convenience than ever. The fact you can play whenever you want at whatever minimum you want. The restriction will be that you must be within the state boundaries.
Another benefit to the players are the promotional aspects of playing online. Since the product is not as labor intense, the marketing associated with I Gaming will be considerably liberal. This will induce play.
Lastly, casino players will have an opportunity to play at sites that are not geographically close to them. If a patron enjoy the I Games that are offered at a casino that is more than an hour ride from their home,they can play on that site and join their rewards club. They can build a relationship with that operator and monitor the gaming entertainment lineup. They can position themselves for discounts and seats that only the online patron is eligible to receive.

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Saturday, May 19, 2018

The effect of legalizing Sports Betting on Atlantic City and Las Vegas

After the monumental decision to legalize sports betting this week, Las Vegas and Atlantic City captured the spotlight. While most pundits shared opinions on ways to enjoy this practice legally in their own states, these two cities have the major ramifications. We will share  two of them.



Las Vegas will capture the attention of organizations that are adding sports betting to their gaming venues. This will include casinos and racetracks. They will emulate Vegas and attempt to do it on the same level but with a higher tax structure. Imitation is good but the results will not suffice. Look at the profit margin for most sports books. Casinos and Racetracks should lobby their state legislatures to come up with a tax rate that will allow them to make a profit and grow the market simultaneously.




Atlantic City will change the tourism paradigm of the Northeast and Mid Atlantic regions. During March Madness and the Super Bowl weekends, thousands of gamblers fly to Nevada to bet on the aforementioned events. They don't have to anymore. This effects air travel and hotel occupancy. Nevada goes down slightly while New Jersey goes up, The airport in Atlantic City gets a facelift. More flights into Philly and New York from the South and Mid West because of the reduction in travel time. Gamblers despise traveling across country when they have other options available. Gas
prices will inch up in the months of January thru March. Expect an increase in tolls that lead to AC in the next 12-18 months.

We will share more in the weeks leading to the #ECGC22. Look forward to seeing you then.
Here is the link to the top gaming conference this year. East Coast Gaming Congress


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Monday, February 12, 2018

3 Bold Gaming Predictions for 2018

                                      Here are the 3 bold gaming predictions for 2018.

Sports Betting will be legal in some capacity. New Jersey will win the case to have Sports Betting. The Supreme Court will allow states rights to prevail since Nevada and Delaware allow wagering on sports, New Jersey will start with NFL this fall. Other states will follow. The NBA will lobby for a percentage of the action. All of the major professional sport leagues will follow suit. 




Hard Rock Atlantic City will be the market leader in Atlantic City. This will happen by the end of the year. Hard Rock will enter the region with the most visible brand and the newest venue. The entertainment lineup will surpass Borgata and Tropicana. This will bring crowds after the summer season ends. Borgata will counter with property upgrades. Tropicana will work the online space and grow that side of  their business.



Pennsylvania will continue to see an increase in table games and poker revenue while slots will trend down. As the clientele gets younger, the demand for slot play decreases. Even with the current expansion of gaming, expect the online space to reflect the current brick and mortar models.

                        Here are the 3 Bold Gaming Predictions for 2017.  See how we did,

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Monday, November 13, 2017

Pennsylvania Gaming Expansion: Will Taxes limit Interest in Online Gaming?


Pennsylvania Gaming Expansion has an extremely high rate of taxation for I Gaming. While the rate for table games and fantasy sports are moderate and in the teens, the legislature took a more aggressive posture with slot play. The tax on slots for casino operators is at 54%. While this matches the amount that brick and mortar facilities pay presently, it is high for a online situation. The initial thought is that will diminish interest in the product. 

Our take is a resounding no. It is too large an upside not to take part of. We will share one creative way that intelligent operators can find success in the I Gaming world. Look at the compact agreement that Delaware, New Jersey and Nevada have. They can share players and increase liquidity. Imagine the entire Commonwealth of Pennsylvania added to such an agreement. The monetary upside would be worth the cost of investment.


If you want more shrewd ways to build your online experience as an operator or a player, you can reach out to us.

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Monday, July 10, 2017

Sports Betting:It's Time

The Supreme Court is scheduled to hear New Jersey's case that they be allowed to have sports betting. The timetable to hear the case is this fall with a decision being rendered at the end of the year or the spring of 2018. While it still a long shot that the court will rule in New Jersey's favor, this is the ray of optimism proponents of sports betting desire. The AGA has been extremely influential in letting the legislators in Washington know the ramifications of Sports Betting. A billion dollar industry that currently operates largely in an illegal market. The tax revenue for the states and federal government would be tremendous. The amount of job creation would range in the thousands.The revitalization of the economy in Atlantic City would turn the shore from a 3 month entity to a year round destination.


At least several other states are watching this development closely. They include Pennsylvania.



Nevada would welcome the lifting of the sports betting ban because they could expand their reach into other jurisdictions that would allow the use of a mobile app to wager on games. This could happen if you have an account set up with a casino located in Nevada. The public is already betting on games. The consensus is that this activity is more socially acceptable than recreational marijuana.Cannabis is currently legal in some states and being considered in others.

                                                                It's Time!


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Sunday, July 2, 2017

Daily Fantasy Sports in Pennsylvania and New Jersey

This past Friday,the New Jersey Legislators passed a bill that will allow daily fantasy sports to be taxed and regulated at a rate of 10.5 %. The bill allows a fantasy sports operator to partner with a casino or racetrack if they want to. Pennsylvania is planning to allow wagering on fantasy sports.
The tax rate has not been finalized.



The upside for both states is new revenue and jobs. The online gaming arm of the casinos will continue to grow. Pennsylvania is proposing internet gambling similar to New Jersey. Daily Fantasy will attract more of a younger demographic the gaming industry.




The news about Fantasy Sports was not as favorable for DraftKings and FanDuel. They were involved in talks that would allow them to merge. The FTC announce that they could not do so because they jointly would control over 90% of the market. The direction for both companies is not clear going forward. They will remain key components as the market for fantasy sports expands in Pennsylvania and New Jersey.


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Monday, September 19, 2016

This Week in Gaming Review



Gaming News from New Jersey took the spotlight with the announcement that Rush Street Gaming is entering the Garden State and accepting Online Wagers. Rush Street Interactive can now accept wagers from any patrons within the State of New Jersey. The website is playsugarhouse.com.

DraftKings paid millions of dollars this past week to make good on a promotional claim that a guaranteed jackpot would be in place. This is a good business move that shows credibility. FanDuel and Yahoo reported similar shortfalls though not as high as DraftKings.  It does not bode well for the marketing analysis that allow for an overestimation of the amount of entries. The next several weeks should have a lower guarantee based on the amount of interest from week 1.

MGM National Harbor is still on target for a 4th quarter opening. The Tables Games Team and the Food & Beverage Department are participating in community events in the DC area. Here are two photos that will give a glimpse of what to expect in the coming months.



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                                                          7 days until #G2E2016

Saturday, March 12, 2016

This week in Gaming Review



Pennsylvania Gaming Control Board Director of the Office of Compulsive and Problem Gambling, Elizabeth Lanza, has received the “2016 Person of the Year Award” from the Council on Compulsive Gambling of Pennsylvania.  Director Lanza received the award last week during the organization’s “2016 CCGPA Statewide Conference East” in Trevose. This is outstanding news and well timed. This is National Problem Gaming Awareness Month. I suggest we take a moment to revisit some of the initiatives the AGA recommends regarding responsible gaming.




New Jersey is strongly exploring the concept of skill based games with regulations that will fast
track new product to the casino floor. I expect more new about this at the IGNA and the ECGC. The I Gaming North America will be held 4/5/16 thru 4/7/16. The East Coast Gaming Congress will take place 5/25/16 thru 5/26/16. I plan to follow attendees and provide commentary during both events.





New Jersey is also looking at Daily Fantasy Sports as a revenue generator. State Senator Jim Whelan proposed a bill that would regulate daily leagues only and tax them at the current casino rate of 9.5%.


More news from PokerStars this week. In a press release, PokerStars parent company Amaya stated:
“Amaya Inc. (NASDAQ: AYA; TSX: AYA) today announced that it expects to initially launch its PokerStars brand in New Jersey on Monday, March 21, 2016.  The launch quickly follows the September 2015 authorization by the New Jersey Division of Gaming Enforcement (the “DGE”) to operate the PokerStars and Full Tilt brands in the State. Amaya currently expects to conduct an interim testing period with the DGE and a beta period for a limited player base beginning in mid-March.”

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Monday, February 22, 2016

This Week in Gaming Review

 
The hearing on Sports Betting was held in Philadelphia on Tuesday. This will impact New Jersey and Pennsylvania “Look for either an 8-4 or 7-5 victory in favor of the leagues,” said Daniel Wallach, a sports and gambling lawyer at Becker & Poliakoff in Fort Lauderdale, Fla. “I don’t expect New Jersey to raise the white flag if it loses. The state is nothing if not persistent.”

 
As part of a grassroots efforts, the American Gaming Association recently launched a website – SportsBettingInAmerica.com – that serves as the hub for information and support from people across the country. If you agree that sports betting law should be changed, join the effort and sign up.
 
International news gives support to the movement for Sports Betting in America. The following is an article from I Gaming Business. Spain’s gambling regulator, the Dirección General de Ordenación del Juego (DGOJ), has revealed that the country’s online gaming market experienced a 26% year-on-year increase in revenue in the 12 months through to December 31, 2015.
Gross gaming revenue for the full year totalled €319.6 million ($357 million), while turnover also increased 28% year-on-year to more than €8 billion.
Sports betting served as the main source of income for operators, generating a total of €179 million of the overall revenue figure and representing an increase of 49% on the previous year.
Although the online slots market also jumped 80% to €67.5 million, the DGOJ did report that revenue from poker dropped to €59.8 million, while bingo also fell to €7.8 million.
The largely positive full-year results come after an impressive fourth quarter in the country, during which revenue hiked 40% year-on-year to €94.7 million.
Sportsbook revenue came in at €53.5 million for the three months to December 31, with casino generating €22.6 million, poker €14.5 million and bingo just €2.1 million.
 
 
The decision will be rendered sometime later this spring or early this summer. I am not confident that New Jersey will prevail. I do think this battle will pick up on a national level.
 
I am headed to Las Vegas this week. I will share part of my time with you once I return.
 
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Friday, December 11, 2015

This Week in Gaming Review

This week includes 3 reports that will change gaming landscape in the mid Atlantic area. One is the
order to curtail Daily Fantasy Sports operators from operating in New York immediately. FanDuel and DraftKings plan to appeal this ruling. As this post was being written, this report was received from ESPN. 
Not in New York!
The second is a referendum to expand gaming outside of Atlantic City. This will be on the ballot during the presidential election vote in November 2016. Meadowlands would be a strong possibility if gaming is allowed to extend to north New Jersey.
 
Pennsylvania is in the process of finalizing the budget for 2015-16.  Since they are overdue by 5 months, the legislators are looking for new revenue streams. One strong consideration is online gaming and the expansion of slots to airports.
Pennsylvania Gaming Oversight Committee


DraftKings and FanDuel were granted a temporary injunction and can continue to operate pending appeal.

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Wednesday, September 9, 2015

What makes Sports Betting so popular?

Sports Betting is popular for 3 universal reasons. I will list and expand on each.

The global appeal of Football, Basketball and Soccer. These three sports have fans from all over the world. The games are played on multiple continents. They have international stars in each of the three. Fans can connect with the players via social media. They develop an affinity for the players and the brand. As a result they are compelled to bet on them when they are watching on television or via live stream.


The Internet- Information can be obtain right at your fingertips. You can get injury reports, points spreads and historical data of how opponents have fared against each other. There was a time when you would have to be in a sports book in Las Vegas to get this type of information. Your second choice would be from your favorite pregame show or weekly periodical. Anyone remember when having Sports Illustrated was a must?  Now you can get it on your PC or phone.

Credit Card and Debit Accounts - Since most of our transactions can be done with the same phone and PC that gives you the info to determine your bet, the accessibility of your credit or debit card will finalize the process. If you wanted to bet a parlay in Delaware, you would have to physically go to the casino or the establishment takes bets. If you have a mobile account that is active in a jurisdiction that accepts bets and you are in that state, you could phone your action in. There are countless off shore accounts that will accept your action but they are illegal. This does not diminish the amount of people that are using them to satisfy the sports betting itch.


           The countdown to NFL Kickoff is 1day away.  How are you scratching your itch?

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Thursday, July 2, 2015

Gaming Mid Year Review 2015

In case you missed it, we have hit the halfway point of 2015. If you are into gaming entertainment,this has been 6 months of speculation throughout the industry.
Here are the highlights of 2015 with my bold predictions of what happens by the end of the year.
 
 
 
 
Casinos proposed in North Jersey with tax revenue going to Atlantic City. Prediction -No.
Governor Christie supports it. New Jersey has a 30% approval rate of him. They will reject
his initiative.
Atlantic City has the Pier and Revel reopening.  Prediction - The Pier reopens while Revel
does not. Bart Blatstein's track record in Philly shows he can develop a project and make it
appealing. Nothing definitive for Revel until 2016.

 
    
Pennsylvania gets online gaming this year. Prediction - No! The interest is there but the difference on the tax rate will morass the process. The budget for fiscal year 2015-16 will take center stage with taxation and educational expenses. Gaming will take a backseat.
 
 
California and New York will have online Poker. Prediction - No! Not enough support to sustain traction. They will revisit the issue in 2016 to beat a proposed federal ban.

Sports Betting will be approved outside of Nevada. Prediction - Yes. This is the year of acquising to popular opinion. A landmark Supreme Court ruling regarding marriage. The legalization of marijuana use for recreational and medicinal purposes is a further example of giving in to public demand and making a profit. Can you spell prohibition? Sports Betting is something that is accepted by the public and some of the professional sports leagues. Fantasy Sports wagering is just the precursor to allowing gambling on a live event. Once approved in New Jersey, Pennsylvania will lobby for it as well.

                           Share a comment if you choose. Have a wonderful Fourth of July!

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