State rejects Concord Casino sale, says it can’t reopen | State news
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Top DraftKings Casino Jackpot Winners in October 2024
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Desert Diamond Casino White Tanks to debut in December
The much-anticipated Desert Diamond Casino White Tanks venue has set a December opening date. The Tohono O’odham Gaming Enterprise (TOGE) will hold its opening event on Dec. 18, featuring activities throughout the day to celebrate its fifth casino, located near Loop 303 and Northern Parkway, west of Glendale. The addition of the new casino is anticipated to spur economic growth for the West Valley and the Tohono O’odham Nation, said Mike Bean, the CEO of TOGE. “We look forward to creating positive new opportunities for the Tohono O’odham Nation, the West Valley, and Arizona,” Bean said in a statement. Construction began in April 2023 on the $450 million, state-of-the-art casino — the exterior of which evokes a desert butterfly represented in the porte cochere, according to a release. JCJ Architecture led the design of the new facility and Hunt-Penta Joint Venture served as the general contractor. More than 5,500 construction jobs were created over the past 19 months related to the project. This story is posted in partnership with Phoenix Business Journal. Click to read the full story. We want to hear from you. Have a story idea or tip? Pass it along to the KTAR News team here. Source link
Inside Wynn Resorts’ $3.9 Billion Gamble On The UAE
With its first casino resort set to open in 2027, a little-known emirate is suddenly an unlikely hot gaming market. Here’s how the U.S. casino giant made a high-stakes bet on its future—and left Abu Dhabi, Dubai and other casino operators in the dust. By Suzanne Rowan Kelleher, Forbes Staff Wynn Resorts CEO Craig Billings raised eyebrows a year ago when he told investors that the United Arab Emirates was the “the most exciting new market opening in decades.” Outside of Egypt and Lebanon, casinos are practically nonexistent in the Middle East, since majority Muslim countries typically ban gambling. Even more intriguing: At the time Billings was enthusing about the UAE’s gaming future, the kingdom had exactly zero casinos. It didn’t even have a gaming authority. But by then Wynn had already rolled the dice on the UAE. In 2022, the company announced an ambitious new project—a $3.9 billion luxury “integrated resort” set on a man-made barrier islet in the emirate of Ras Al Khaimah, also known as RAK. The plans called for a glittering hotel tower with 1,500 high-end rooms and suites, as well as private villas on the marina adjacent to the resort. There would be 24 restaurants and lounges, a spa, a beach club, a 9-acre poolscape, a high-end shopping esplanade, multiple entertainment venues, and nightly state-of-the-art laser and light shows. From the outset, the designs included a gaming floor—though, at the time, Wynn did not yet have a casino license. GLAM RAK: The Wynn Al Marjan is set to put the lesser-known emirate of Ras al Khaimah on the Middle East’s tourism map. Wynn Resorts Billings’ bet paid off last month, when the UAE’s General Commercial Gaming Regulatory Authority (GCGRA) awarded Wynn the first commercial gaming operator’s license in the emirates. Notably, the casino is just the beginning of gambling in the UAE. The fledgling gaming authority also recently greenlit its first national lottery, and it is also preparing to launch a regulated iGaming market, which encompasses sports betting and any wager on a future outcome. Wynn’s early gamble on the UAE now seems like a winner. But it was actually a huge risk, considering that the GCGRA was only formed after Wynn had already committed to build. “Wynn has been telling us the whole time they felt strongly confident that they were going to get this license, but then it did take them a while,” says Chad Beynon, a senior analyst covering gaming, lodging and theaters for Macquarie Capital. “Meanwhile, they were building this property. If they never got that license, that would have been massively detrimental to shareholders.” The Wynn Al Marjan, slated to open in 2027, is a joint venture between Wynn and RAK Hospitality Holding, chaired by the emirate’s 37-year-old crown prince, Sheikh Mohammed bin Saud bin Saqr Al Qasimi. Wynn Resorts owns 40% of the Al Marjan project. According to SEC filings, the company invested $455 million during the first nine months of 2024, bringing its life-to-date spend to $533 million. Wynn’s remaining 40% pro-rata share of the required equity is $800 to $875 million, the company’s CFO Julie Cameron-Doe told investors on Monday’s third-quarter earnings call. That would bring Wynn’s total projected investment in the project to about $1.4 billion. CHECK IN: Expected to draw gamblers from beyond the Mideast, Wynn also eyes the 88% of UAE residents who are foreign expats. Wynn Resorts It’s significant that Wynn didn’t partner with one of the UAE’s two economic powerhouses, Abu Dhabi or Dubai, but with much lesser-known Ras Al Khaimah. The northernmost of the seven emirates, RAK has an $11.5 billion GDP—just 2% of the value of all goods and services produced in the UAE. Slightly larger than South Carolina, RAK borders Oman to the north and east, and the emirate of Umm Al Quwain to the south. Its name translates roughly to “the head of the tent,” where archaeologists have found signs of civilization dating back 7,000 years. In modern days, the emirate’s chief economic driver is RAK Ceramics, a company that produces 123 million square meters of tiles and 5 million units of what is euphemistically known as “sanitaryware”—sinks, bathtubs, toilets—resulting in $545 million in revenue per year. That figure is expected to be eclipsed by Wynn Al Marjan once it launches. “Based off what Wynn has communicated with us,” says Beynon, “their emirate is very business-friendly.” He speculates that it’s much easier for Wynn to work with RAK simply because there are fewer local stakeholders to potentially challenge the project. For perspective, Beynon brings up an example closer to home. “Miami wanted to get a casino license for the past 20 years,” he says. “And Disney would oppose it. Convention centers in Miami would oppose it. Restaurants and hotels would oppose it. I believe that’s the risk in Dubai and Abu Dhabi. They’re already established with tens of billions of dollars of investment from others.” DESERT OASIS: An extensive 9-acre poolscape will feature multiple swimming and wading pools, water features and private cabanas. Wynn Resorts When the resort opens three years from now, Wynn Al Marjan will be an acid test for whether casinos succeed in the UAE. “The way I think about it is like this,” Billings told investors on a third-quarter earnings call last week. “There is not a proper integrated resort, really, on that half of the planet, okay? So the closest is going to be in Asia—Singapore or Macau.” He then noted the massive population within an eight-hour flight of the UAE. “You have 86 million airlifts coming into the Dubai Airport, and we’re about 55 minutes via one of three six-lane highways from the Dubai airport.” ROOMS WITH A VIEW: Currently under construction, the 1,000-foot hotel will include over 1,500 rooms and suites, many overlooking the Gulf of Arabia. Wynn Resorts “And then, you have 10 million people locally, nine million of whom are not Emirati and, therefore, are able to play,” Billings continued. In fact, expatriates make up roughly 88% of
MGM Springfield Casino Evacuated Following Weekend Blaze
Posted on: November 10, 2024, 02:54h. Last updated on: November 10, 2024, 02:54h. Massachusetts’ MGM Springfield casino was evacuated after a fire broke out Saturday that was linked to a restaurant at the gaming property. Fire truck at MGM Springfield, pictured above, pictured above. The building was evacuated. (Image: Springfield Fire Department) The blaze was largely limited to duct work linked to the eatery. It caused smoke to billow up to the upper floors of the complex. The Springfield Fire Department first was alerted at 5:39 p.m. about the fire. Sprinklers were activated, too. Guests and employees were evacuated and remained out of the building for several hours. Initially, firefighters were told that just one floor of the casino was getting filled with smoke. But fire crews discovered that smoke had spread to several floors of the building. Flames appeared to be limited to ducts running between the kitchen in Chandler Steakhouse to the building’s roof, according to MassLive, a regional news site. Western Mass News, another regional news site, reported smoke was seen on the fourth, fifth, and sixth floors of the casino. Fire Crews Went to Roof Firefighters battled the fire on the building’s roof. They extinguished sparks and flames coming from the ducts. Part of the roof also caught on fire, according to news reports. The fire was brought under control and firefighters spent hours working on getting smoke out of the rest of the building. A few hours later, workers and visitors were allowed to return to the most of the casino. Steakhouse Temporarily Closed Chandler Steakhouse will be temporarily closed to the public until 5 p.m. Wednesday, according to a post on the eatery’s website. The restaurant typically closes on Mondays and Tuesdays. There were no initial reports of injuries anywhere in the building either involving firefighters, staff, or visitors. Fire officials didn’t provide a damage estimate to repair the structure. It’s not immediately known if smoke was completely cleared from the casino complex as of Saturday night. On Sunday, the Springfield Fire Department’s Arson and Bomb Squad still were searching for the cause of the blaze. In total, six fire engines, three trucks, a rescue vehicle, and three chiefs responded to the complex. MGM Springfield Sale Rumor Earlier this year, Bloomberg News reported MGM Resorts was considering the sale of the MGM Springfield. MGM Springfield opened some six years ago. MGM Resorts invested nearly $1B to construct the complex. The casino has some 1,500 slot machines, a poker room, and provides numerous table games. Source link
Muscogee Nation breaks ground for Coweta Casino Hotel
Ground broken for new $100 million casino in Coweta Officials broke ground for a new $100 million Muscogee Nation casino in Coweta. The Coweta Casino Hotel, which will be built on the southeast corner of 131st Street and Oklahoma 51, is planned to open in the spring of 2026. The 104,000-square-foot development in the Wagoner County city will be about 25 miles southeast of downtown Tulsa and about 10 miles from central Broken Arrow. In addition to the 35,000-square-foot casino with 750 state-of-the-art gaming machines, the development will have a 46-room hotel with a pool, a fitness center, concierge services, and a meeting and event space to accommodate as many as 150 guests, officials said. During the construction phase, the capital investment in the project will support an estimated 501 jobs in the region, providing $22.6 million in income for a total economic impact of $132.5 million in the Wagoner County region. People are also reading… When fully operational, the Coweta Casino Hotel is expected to create 250 new direct jobs that will support an additional 346 jobs in the community for a total of 596 jobs across the Wagoner County region. These jobs will create $27.5 million in new income annually, officials said. “I think it will be a really nice addition for the city of Coweta,” said Pat Crofts, CEO of Muscogee Nation Gaming Enterprises. “I think there will be a lot of (nearby) restaurants and coffee shops and those sorts of things that will be be built.” Solar energy company announces contractor for $620M plant at TIA The company building a $620 million solar energy plant at Tulsa International Airport announced a Chicago-based company as its contractor for the project. Oslo, Norway-based NorSun announced the signing of an engineering, procurement and construction contract with Clayco, an engineering and construction firm, for its new solar wafer manufacturing plant. “This agreement follows a rigorous selection process, where NorSun placed significant emphasis on broad experience, reference work and capacity to execute on building large complex industrial facilities,” a news release says. “Through their performance during the preceding design efforts, NorSun selected Clayco to lead the construction of the facility.” Construction work is expected to commence in 2025 leading up to wafer production in mid-2026. The project, which will be constructed on airport property east of Mingo Road and west of U.S. 169, is expected to employ about 320 people. “As a top-tier U.S. engineering and construction firm, Clayco is committed to advancing the nation’s green energy transition,” said Anthony Johnson, president of the industrial business unit for Clayco. “This landmark facility for NorSun in Tulsa marks a major step in rebuilding the U.S. solar value chain, and we’re proud to join forces with NorSun in this endeavor. We’re honored by the trust placed in us and have valued our close collaboration throughout this project.” ONE Gas reports third-quarter earnings Tulsa-based ONE Gas reported its third-quarter net income was $19.3 million, or 34 cents per diluted share, compared with $25.2 million, or 45 cents per diluted share, in the third quarter of 2024. Year-to-date net income was $145.8 million, or $2.56 per diluted share, compared with $160.5 million, or $2.87 per diluted share, in the same period last year, the company said. The company raised and tightened 2024 diluted earnings per share guidance to a range of $3.85 to $3.95 from a previous range of $3.70 to $4. The board of directors declared a quarterly dividend of $0.66 per share ($2.64 annualized), payable on Dec. 4, to shareholders of record at the close of business on Nov. 19. “Through company-wide effort and focused execution, we have raised and narrowed our 2024 financial guidance, all while maintaining a healthy balance sheet,” said Robert S. McAnnally, president and chief executive officer. “As we approach the end of the year, we are poised to deliver strong financial results, serve our customers and strategically position the company for the opportunities that lie ahead.” The Tulsa World is where your story lives The Tulsa World newsroom is committed to covering this community with curiosity, tenacity and depth. Our passion for telling the story of Tulsa remains unwavering. Because your story is our story. Thank you to our subscribers who support local journalism. Join them with limited-time offers at tulsaworld.com/story. The business news you need Get the latest local business news delivered FREE to your inbox weekly. Source link
Will New York Get Its New Casino?
Hundreds of trade union members gathered on Thursday, October 24th, in support of the Wynn Resorts and Related Companies’ $12 billion project at Hudson Yards. They flooded the streets to counter objections raised by Protect the High Line, a nonprofit concerned about the project’s impact. With tensions rising, what lies ahead for New York’s new casino? Let’s discuss this in more detail. The Background In 2013, voters in New York approved the authorization of up to seven casinos in the state. In phase one of the plan, four new casinos were opened and the state is now planning to issue the remaining three licenses. 11 proposals are in the running for those three licenses, with the New York State Gaming Commission planning to issue them in late 2025. Currently, New York is home to 21 commercial casinos but those aren’t the only places where locals can spin slots and play their other favorite casino games. As more and more Americans are turning towards online gambling, crypto casinos are becoming increasingly popular in New York. These are usually licenced overseas rather than within the state itself, meaning locals are free to play at these sites while locally-based options are pending legalization. The Hudson Yards Project and Other Bids Earlier this year, Wynn Resorts and Related Companies revealed details of their $12 billion Hudson Yards project as they look to obtain one of the three licenses the New York State Gaming Commission is planning to issue in downstate areas of NYC. About two months ago, we got a chance to look at the first renderings of the proposed project, which includes a resort and casino. The proposed Hudson Yards West development would also feature the Wynn New York City hotel with dining options, bars, spas, and lounges. Other features of the new development would include a residential building, office space, and a 5.6-acre park connecting to the Javits Center and surrounding parks. Among other applicants for a license is the Mets owner Steve Cohen who has partnered with Hard Rock to build a casino and entertainment complex called Metropolitan Park. In the running is also the rap mogul Jay Z who has recently promised over $250 million to the Hell’s Kitchen community if he wins the bid. He and his Roc Nation have teamed up with Caesars Entertainment as they plan to build a Caesars Palace Times Square casino. Union’s Support For Hudson Yards Casino On Thursday, October 24th, workers from various unions crowded the streets to show support for the proposed Wynn Resorts and Related Companies’ project. This came after plenty of controversy over the proposal and the objections from nonprofits and the community. The Manhattan Community Board 4 and Protect the High Line support a 2009 Western Rail Yards which doesn’t include high-rise buildings or a casino. Their stance is that the Wynn Resorts and Related Companies’ project would do permanent damage to the High Line. They said that the design choices for Hudson Yards obstruct city views and cast shadows over the High Line and other open spaces for much of the day. In response, Union members showed their support through the rally dubbed “We Build”. Gary LaBarbera, the president of the Building and Construction Trades Council of Greater New York said that those opposing the plan are putting their elite attitudes in front of their future and the future of their families. He added that by stopping the project, High Line officials would kill 30,000 jobs and that union members can’t let them do that because it’s their future. The president of the New York City Central Labor Council, Vincent Alvarez, emphasized the importance of a strong labor force to keep the city dynamic and added that the elected officials sometimes hinder this process. Alvarez said that they want to see progress rather than excuses. He added that they want to see housing, stores, and hotels being built. When unveiling the project, casino giant Wynn emphasized that the resort would open 35,000 union construction jobs and add 5,000 unionized employees to Manhattan’s economy. However, this was also met with skepticism as academics and business experts said that casinos snuff out economic activity nearby. So, will New York get its new casino? We’ll have to keep an eye on upcoming developments and how the battle between supporters and opponents will unfold. The New York Gaming Commission is set to issue the remaining New York gaming licenses in late 2025. Source link
Junior League of Bryan-College Station hosts casino inferno event
BRYAN, Texas (KBTX) – Community members rolled the dice Saturday at The Junior League of Bryan-College Station’s Casino Inferno. The inaugural event called Betting on the Brazos Casino Inferno replaces the organization’s annual charity ball. “We were wanting to get people more involved, so we decided to do a casino night where everyone will be on the floor all at once,” said Junior League of Bryan-College Station president , Hayley Harrison. Attendees got the chance to enjoy food, raffles, a silent auction, DJ and classic casino games. The proceeds from the event go toward Junior League’s charity initiatives like Stuff the Bus, which provides school supplies for students at the beginning of the school year. To support the initiatives and participate in the silent auction you can visit their website here. Copyright 2024 KBTX. All rights reserved. Source link
Wind Creek Casino officials show off elegance of Southland’s new entertainment center
When guests walk in to the new Wind Creek Chicago Southland Casino in East Hazel Crest, the first sight they see is a towering digital sculpture featuring diamond shapes, vertical strings of gem-like light beads and cascading, rotating light patterns. A towering digital sculpture featuring lights and gem shapes greets guests as they enter the lobby of the new Wind Creek Chicago Southland Casino in East Hazel Crest. (Eric Crump/H-F Chronicle) Cathye Amos, executive director of marketing, said the multi-million piece was commissioned for the new casino. “There are only two of them in the United States and we have one of them,” she said. “You’re not going to see anything in this area like this.” Amos, who led media tour of the casino on Thursday, Nov. 7, said the effort to create a memorable experience for guests informed every aspect of design and construction. Advertisement “Every feature of this project was a strategic decision in what kind of experience we wanted our customers to have,” she said, pointing to designs and colors in carpeting, ceiling treatments and even the chairs at each of more than 1,400 slot machines on the gaming floor. Cathye Amos, Wind Creek executive director of marketing, directs attention to the lobby sculpture during a media tour of the casino on Nov. 7. (Eric Crump/H-F Chronicle) The casino also features 56 game tables, several high limit rooms, a sports bar and four party areas that are delineated from the rest of the gaming area. Games include blackjack, roulette, craps, war, three-card poker and baccarat. Amos said the party areas, or “hidden gems,” can be reserved for all sorts of events, from birthday parties, game watch parties, girls’ night out or company retreats. Two are large enough to include live bands or DJs, and three of them have slot machines in the space. In a high limit room, Amos directed attention to the ornate ceiling design. “I remember old Las Vegas and this is old Las Vegas to me,” she said. “It’s elegant, right? The finishings are just high end. You’re not in Las Vegas, but this is as close as you’re gonna get to it in the Southland.” Chef Erik Keever describes the preparation of pork for Southern District, a restaurant in the Wind Creek food bazaar. (Eric Crump/H-F Chronicle) The food bazaar will have six services, including Abuela Cocina for Latin American favors, Bottega for Italian cuisine, Burgers’n Wiches for gourmet burgers and sandwiches, Salt and Sea for seafood, Southern District for “barbecue flavors with an international twist” and Sugar Lips for pastries and other desserts. The casino and food bazaar will open first, with the 16 story hotel, entertainment center and sport book to follow in 2025. The casino doors will open to the public at 11 a.m. Monday, Nov. 11. Wind Creek CEO Jay Dorris said he was excited and relieved to have reached the end of the long road to develop the casino, even though there’s more to come. “It’s been a very long process and to be now, it’s exciting,” he said. “We want to have something spectacular. We certainly want our locals to be proud, and we also know we’ve got to attract people from the distances away. And I think they’ve got a reason to come check us out.” State Rep. Will Davis, D-Homewood, indicated he thought Wind Creek had achieved its goal. “If I didn’t know any better, just walking through the lobby, I’d swear it was in (Las) Vegas,” Davis said. “It looks that good.” Related stories: Wind Creek career fest attracts thousands of job seekers (Aug. 9, 2024). Homewood approves redevelopment agreement with Wind Creek as casino buildings rise (July 12, 2023) Wind Creek announces partnership with celebrity chef on Southland casino restaurants (April 16, 2023) Homewood trustee candidates tackle questions about independence, casino, economic development (videos, free) (April 2, 2023) Work begins at Wind Creek Casino site (Oct. 6, 2022) Wind Creek Hospitality, local officials break ground on East Hazel Crest/Homewood casino (June 7, 2022) A history of Homewood’s future neighbors, the Poarch Band of Creek Indians (Feb. 2, 2022) Wind Creek casino application moves closer to license approval as Matteson site is eliminated (Dec. 9, 2021) Casino hopefuls vie for edge with gaming board (Nov. 18, 2021) Homewood-East Hazel Crest site still in running for south suburban casino (Oct. 21, 2021) Homewood officially endorses developer for proposed casino (Oct. 1, 2021) Local officials, casino developer remain confident despite ruling delay (Nov. 4, 2020) Casino parking lot permit gains Homewood board approval (Oct. 15, 2020) Homewood casino decision still months away (Feb. 8, 2020) Letter: Mayors make case for casino in Homewood and East Hazel Crest (Feb. 7, 2020) Letter: Labor and transparency concerns about proposed casino (Oct. 26, 2019) A local casino on the way, in a state already awash in gambling (Oct. 23, 2019) East Hazel Crest approves Wind Creek casino proposal (Oct. 11, 2019) Residents divided as Homewood takes another step toward casino (Oct. 8, 2019) Wind Creek casino plan includes hotel, entertainment center (Oct. 4, 2019) Further delay likely in Homewood casino bid, no action seen at state veto session (Nov. 17, 2014) Source link
