Ohio casino revenue down 1.9% year-over-year in February — CDC Gaming
Charlotte Capewell, Special to CDC Gaming Email, LinkedIn, and more Ohio casinos generated $81.8 million in revenue for February, down from $83.5 million, a year-over-year decline of 1.9%. The Ohio Control Commission reported that slot machines generated $58.6 million of revenue, down 3% from $60.4 million in February 2024. Table games generated $23.2 million of revenue, up from $23 million, a 0.7% year-over-year increase. Of Ohio’s four land-based casinos, only two generated revenue above $20 million in February: Hollywood Columbus Casino and Jack Cleveland Casino. Hollywood Columbus Casino generated the highest revenue last month, reporting $23.4 million, a 4.1% year-over-year increase from $22.5 million. Jack Cleveland Casino reported revenue of $20.5 million, down 4.9% from $21.6 million reported in February 2024. Ohio’s two other casinos, Hard Rock Cincinnati Casino and Hollywood Toledo Casino, just missed out on the $20 million mark, reporting $19.8 million and $18 million in revenue, respectively. Both casinos also reported declines in revenue last month. Hard Rock Cincinnati dropped from $20.1 million, a year-over-year decrease of 1.4%, whereas Hollywood Toledo dropped from $19.2 million, a year-over-year decrease of 6.3%. Source link
Hollywood Online Casino Pennsylvania Promo Code and Review for April 2025
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What Jurisdictional Issues Do US Crypto Casinos Face? (Video) – Fin Tech
The global cryptocurrency casino market is projected to reach $65.7 billion by 2027, underscoring the increasing prominence of digital assets in the gaming industry. However, the legal landscape governing crypto casinos in the United States remains complex and fragmented. Operators must navigate federal and state-level regulations to ensure compliance, mitigate liability, and uphold responsible gaming practices. For businesses seeking entry into this evolving sector, a thorough understanding of jurisdictional constraints and regulatory requirements is essential. Legal Status of Crypto Casinos in the United States Cryptocurrency itself is not prohibited under U.S. federal law. The Internal Revenue Service (IRS) classifies digital assets as property for tax purposes, requiring taxpayers to report gains and losses. However, the legality of crypto casinos—online gambling platforms that accept cryptocurrencies—remains less clear. self At the federal level, the Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006 prohibits businesses from knowingly processing payments related to unlawful online gambling. While UIGEA primarily addresses fiat currency transactions, its applicability to cryptocurrency-based casinos is not explicitly defined. As a result, crypto casinos operate in a legal gray area, with compliance largely dependent on state-specific gambling laws. State regulations vary significantly. Nevada, New Jersey, and Delaware have established frameworks for legal online gambling, potentially allowing crypto casinos to operate within their jurisdictions upon obtaining the necessary licenses. Conversely, many states prohibit online gambling altogether, making participation in crypto casino activities legally precarious. Companies seeking to enter the market must conduct jurisdictional analyses and consult with experienced gaming counsel to assess the feasibility of operations in specific states. Regulatory Challenges and Business Considerations Given the patchwork nature of U.S. gaming laws, businesses interested in crypto casinos must carefully evaluate potential operational models: Relocation to Permissive Jurisdictions –Establishing operations in states with clear online gaming regulations, such as New Jersey or Nevada, can provide a lawful pathway to market entry. By obtaining appropriate gaming licenses, companies can mitigate regulatory risks while capitalizing on a growing consumer base. Targeting Permitted Markets –Some companies may choose to accept players only from states where online gambling is explicitly legal. This approach requires rigorous compliance measures, including geolocation verification, to prevent unauthorized access from restricted jurisdictions. Structuring a Holding Company –Businesses may explore the use of a holding company structure to manage operations across multiple jurisdictions. However, these entities must be carefully structured to avoid allegations of circumventing state and federal gambling laws. Regardless of the model pursued, compliance remains paramount. Partnering with knowledgeable legal counsel specializing in online gaming and cryptocurrency regulations is essential to navigating the intricate regulatory framework. The Evolving Regulatory Landscape The intersection of blockchain technology and online gaming continues to present novel regulatory challenges. As lawmakers and regulators evaluate the implications of crypto casinos, future legislative developments could bring greater clarity to the industry. Companies that proactively engage with regulators, adopt robust compliance protocols, and prioritize responsible gaming will be best positioned to succeed in an evolving legal environment. Operating in a regulatory gray area carries inherent risks. Violations of gambling laws can result in significant fines, litigation, and reputational harm. Businesses that attempt to exploit perceived loopholes or circumvent regulations may face severe legal consequences, including civil and criminal liability. Conclusion The U.S. legal framework for crypto casinos remains a developing area of law, with jurisdictional discrepancies creating significant compliance challenges. Companies seeking to enter this space must adopt a strategic, compliance-driven approach—prioritizing regulatory adherence, risk mitigation, and responsible gaming practices. By engaging experienced legal counsel and monitoring legislative developments, businesses can position themselves for long-term success while avoiding costly legal pitfalls. The future of crypto casinos will depend on regulatory clarity, and those who proactively align with emerging legal standards will be well-equipped to capitalize on this dynamic and growing industry. The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. Source link
New York’s casino sweepstakes could put $115M in Donald Trump’s pocket
ALBANY, N.Y. – A high-stakes contest to decide who gets to build a casino in New York City could potentially result in a $115 million jackpot for President Donald Trump. The Republican stands to win big if state officials award one of three available gaming licenses to Bally’s Corp., which wants to open a casino at a city-owned golf course that used to be run by Trump’s company. In 2023, Bally’s paid Trump $60 million for the rights to operate the public 18-hole course on the Bronx shoreline, near where the East River meets the Long Island Sound. The gaming company promptly took down the massive “Trump Links” sign that was, at one time, all but impossible to miss for drivers going the Whitestone Bridge, and renamed the course Bally’s Golf Links at Ferry Point. But under a little-noticed side deal, Bally’s promised to pay Trump another $115 million if Bally’s were to get a license to open a casino on site. The letter disclosing that deal was included as an evidence exhibit in a trial over New York state’s allegation that Trump habitually lied about the worth of his assets in financial statements given to banks. The letter says the $115 million payment would be nonrefundable and describes it as a “gaming event fee.” Bally’s did not return requests for comment. Trump’s interest in Bally’s project could be a wildcard in New York’s casino sweepstakes. At least 11 bidders have said they are competing for the right to build what would be the first, full-service casino in the city and its nearest suburbs. The race has drawn in big players: Caesars Palace has a plan to build a casino in Times Square; the company that owns Saks Fifth Avenue wants to put a casino atop their luxury department store in Manhattan; and Steve Cohen, the owner of the New York Mets, is proposing a casino right outside the baseball team’s home stadium in Queens. Another two bidders are hoping to expand on existing operations. MGM Resorts wants to do a major upgrade of its existing Empire City “racino,” located at a horse track in the suburb of Yonkers. The gaming company Genting wants to do a multibillion expansion of its Resorts World racino adjacent to the Aqueduct horse track in Queens. Those two gambling venues are now limited by law to slot machines and certain other machine-run games. It is unclear how Trump’s link to one of the bidders might affect the selection process. Applications are supposed to be submitted to a state board by late June. First, they will be considered by community advisory committees made up of appointees of the governor, mayor and state and local officials. Their job will be to weigh any local support or opposition. The proposals then go back to the state’s gaming board, which expects to award the licenses by the end of the year. Applicants also have to get various zoning or land-use approvals depending on the location and scope of their projects. Bally’s project is also expected to require the state Legislature to pass a bill allowing the company to build their casino on public parkland. The federal government does not play any role in the state’s casino license selection process. The Trump Organization did not immediately return an emailed request for comment. Trump remains highly unpopular among many public officials in New York who will be in a position to influence the process, and it is possible that antipathy could wind up being a handicap for Bally’s bid. There’s also a chance someone might try to use Trump’s financial interest as a bargaining chip. New York Gov. Kathy Hochul has clashed with the Trump administration over immigration policy, federal funding for the city’s subway system and a tolling program in Manhattan. The Trump administration is also trying to revive a plan to build a natural gas pipeline through New York that was halted in 2017 by state environmental regulators. New York City Mayor Eric Adams, meanwhile, has been under intense pressure to prove his political independence after the Justice Department moved to drop his corruption case so he could assist with the Trump administration’s immigration agenda. Trump, whose Trump Organization runs more than a dozen golf courses around the world, first acquired the rights to manage Ferry Point in 2012. The city spent more than $120 million to build the Jack Nicklaus-designed course on an old landfill, envisioning an East Coast version of the famed Pebble Beach links in California and major championships that never materialized. Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. Source link
Korea’s Paradise Co reports 15% sequential increase in casino revenues to US$55 million in March – IAG
Leading Korean foreigner-only casino operator Paradise Co reported casino revenue of KRW81.0 billion (US$55.3 million) in March, up 51.6% year-on-year and 15.3% higher than in February, according to information filed with the Korea Exchange. The March figure included a 16.6% sequential increase in table games revenue to KRW76.9 billion (US$52.5 million) although machine declined by 4.5% to KRW4.07 billion (US$2.78 million). Paradise seems to have played lucky for the month, with table drop of KRW589.1 billion (US$402 million) down 1.0% year-on-year and up 12.1% compared with February. The March result follows a strong 2024 for Paradise, when casino revenues climbed by 10.2% to KRW818.8 billion (US$556 million) – cementing its position as the country’s leading foreigner-only casino operator. Paradise, which recently revealed plans to develop a luxury hotel in Seoul and upgrade its VIP gaming areas to improve its appeal to international guests, operates four casinos in Korea including integrated resort Paradise City in Incheon – a joint venture with Japan’s Sega Sammy – plus casinos in Seoul, Busan and Jeju. Source link
Paradise Co’s March casino sales top US$55mln, up 52pct y-o-y
Casino sales at Paradise Co Ltd reached KRW80.95 billion (US$55.3 million) in March, a 51.6-percent increase from a year earlier. Judged sequentially, the March tally was up 15.3 percent, according to a Wednesday filing to the Korea Exchange. The company is an operator in South Korea of foreigner-only casinos, including a venture at Paradise City in Incheon, done jointly with Japanese entertainment conglomerate Sega Sammy Holdings Inc. Paradise Co also runs gaming at Walkerhill (pictured), Seoul, as well as in the southern port city of Busan, and at a venue on the semi-autonomous holiday island of Jeju. Table-games sales in March were KRW76.88 billion, up 16.6 percent from February, and 55.7-percent higher than a year ago. Machine-game sales last month stood at KRW4.07 billion, down 4.5 percent sequentially, but slightly up by 1.3 percent from March 2024. The March figures took Paradise’s aggregate casino sales for the first three months of this year to just under KRW222.92 billion, up 8.8 percent year-on-year. About 94.2 percent of first-quarter casino sales – i.e., KRW209.93 billion – was from table games, up 9.7 percent from the prior-year period. Accumulated table drop for the three months to March 31 – the amount paid by customers to purchase gaming chips at tables – stood at KRW1.69 trillion, down by 2.0 percent year-on-year, according to Wednesday’s filing. Source link
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Future of floating Buenos Aires casino in doubt — CDC Gaming
James, G3 Newswire Email, LinkedIn, and more The Supreme Court of Justice unanimously revoked a precautionary measure that had allowed the Floating Casino in Puerto Madero to operate despite the expiration of its concession. As a result, the casino’s ability to continue operations is now uncertain. The ruling impacts Casinos de Buenos Aires SA, the company responsible for operating the ‘Estrella de la Fortuna’ and ‘Princess’ vessels, whose original concession expired in 2019. For now, the floating casino will remain in operation, as another precautionary measure has been in effect since 2021 and is irreversible due to the fact that the State never contested it. However, the Supreme Court urged the Federal Administrative Litigation Chamber to send it the main file, in order to determine whether the gaming hall can continue operating in the City of Buenos Aires. Source link
