Melco’s Q3 Report Signals 46% Drop in Revenue

Melco’s Q3 Report Signals 46% Drop in Revenue


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Toward the end of October, Melco Resorts & Entertainment announced it was getting ready to recruit 1,000 employees to fill in the new positions for its new Mediterranean project in Cyprus. Now, the company has made its unaudited third-quarter earnings for 2022 public, signaling a 46% decrease in total operating revenue.

Strict Traveling & Covid-19 Closure as Main Culprits

The NASDAQ-listed developer, operator, and owner of a range of successful integrated resorts in Europe and Asia reported total operating revenues of $241.8 million for the said quarter. The amount represents an important drop from $446.4 million in Q3 2021.

The explanation for the decrease was offered through the government mandating Melco’s casinos to be temporarily closed in Macau as a result of the new spike in Covid-19 cases. Another culprit for the decrease in total operating revenue was found in the tightened travel restrictions in mainland China and Macau during the third quarter. The restrictions triggered a poorer performance in rolling chip and table games for the mass market.

Negative Adjusted EBITDA

The company also reported a negative adjusted property EBITDA of $34.9 million in Q3 2022, compared to $31.9 million recorded in last year’s third quarter. Melco also reported a $198.5 million operating loss for Q3 from $182.2 million during last year’s Q3. As for the loss, it amounted to $243.8 million. By comparison, the company reported a net loss of compared $233.2 million during the same period last year. Noncontrolling interests generated a net loss of $42.8 million in Q3 and $35.3 million in Q3 2021. They were tied to City of Dreams Manila, Studio City, and the company’s operations in Cyprus.

City of Dreams Manila is found at the gateway of Entertainment City and it hosts a mix of hotel brands inspired by celebrity lifestyles and trendsetters. City of Dreams also offers a luxury casino hotel for VIP members and services for important business guests. Studio City has Hollywood as the main source of inspiration. It considers itself to be “the most diversified entertainment offering yet established in Macau” and it is packed with next-gen and a must-see type of leisure experience. 

The company’s chairman and chief executive officer Lawrence Ho expressed confidence regarding Macau’s business ability to make a comeback, especially in the context of the group’s reopening. He also expressed cautiousness regarding their optimism in relation to the granting of group visas, a process that was initiated on November 1.



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William Hill to Launch Betting Location at Celtic Stadium

William Hill to Launch Betting Location at Celtic Stadium


The leading British online betting and casino operator, William Hill, announced a new deal with the Scottish professional soccer club based in Glasgow, Celtic FC.

William Hill Becomes Official In-Stadium Partner of Celtic FC

The new collaboration was announced Wednesday and sees William Hill become the team’s official in-stadium betting partner. Thanks to the recent deal, 888Holdigs-owned William Hill will operate a betting facility located at Celtic Park, the home stadium of the famous soccer club. The terms of the new deal allow the leading brand to operate the location for the next two seasons.

We are very pleased to be partnering with an industry leader in William Hill. We are certain that supporters who use this service will benefit from an enhanced stadium experience throughout the season.

Adrian Filby, commercial director at Celtic FC

Adrian Filby, Celtic FC’s commercial director, revealed that the team is excited to join forces with a leading industry operator such as William Hill. He predicted that the collaboration will bring exciting stadium experiences for sports fans that are interested in betting.

The new collaboration will bring unique matchday experiences for Celtic FC fans. At the same time, sports bettors will benefit from different promotions and exclusive offers from William Hill. The new deal does not come as a surprise, considering that the leading operator has been a part of the local community for decades now. In fact, only recently, William Hill revamped its Paradise location.

The Collaboration Will Bring Unique Experiences for Sports Fans

Liam McKee, William Hill’s director of media, sponsorships and UK creative, added that the company is excited to team up with the legendary team. Moreover, he reiterated that the new collaboration will deliver unique retail betting experiences for fans of the team.

We are delighted to partner up with Celtic at their iconic home and deliver our unrivalled retail betting experience to the Celtic faithful. It promises to be another exciting season at Paradise, and we are thrilled to be along for the journey.

Liam McKee, director of media, sponsorship & UK creative at William Hill

William Hill’s latest announcement comes after only recently, the brand announced a deal with FunFair Games. The collaboration saw FunFair Games introduce its complete range of iGaming solutions for William Hill’s Mr Green players. Such products include the leading The Wheel of Steal and Hugo: Up and Away, among other leading products.



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Las Vegas Raiders vs Jacksonville Jaguars Week 9 Odds, Time, and Prediction

Las Vegas Raiders vs Jacksonville Jaguars Week 9 Odds, Time, and Prediction


After suffering their fifth loss of the season last weekend, the Las Vegas Raiders now only have a 14% chance to make the playoffs. The chance of their next opponent, the Jacksonville Jaguars, is even worse – it’s only 5%.

Nevertheless, this doesn’t mean that these two have given up on their dreams before the half point of the 2022 NFL season. On the contrary, both are expected to switch up a gear and pray that their competitors will fail.

Las Vegas Raiders vs Jacksonville Jaguars Week 9 Odds

Spread

Las Vegas Raiders -1.5 -111
Jacksonville Jaguars +1.5 -111

Moneyline

Las Vegas Raiders -125
Jacksonville Jaguars +104

Points

Over 48 Points -111
Under 48 Points -111

*Odds taken from bet365 on Wednesday, November 2.

When, Where, and How to Watch?

  • Place: TIAA Bank Field in Jacksonville, Florida
  • Date: Sunday, November 6, 2022
  • Time: 1:00 PM ET
  • How to Watch: CBS

The Raiders are Much Better Than What Their 2022 Record Suggests

The Los Angeles Raiders are 2-5 in the 2022 NFL season, which sounds terrible, but the truth is that they haven’t been that bad. It’s just that their schedule has been horrible so far. Excluding the 24-0 blowout loss to the New Orleans Saints last weekend, all of their defeats were more or less expected.

They lost to the Kansas City Chiefs on the road by just one point, as well as to the Tennessee Titans by two points. The Raiders also suffered an away loss to the Los Angeles Chargers who beat them by five points. Their only home loss of 2022 happened against the Arizona Cardinals, who won by a touchdown.

When it comes to their 2022 wins, the Raiders triumphed against the Denver Broncos and the Houston Texans. Both of those wins happened in Nevada, while they’re still without a single win on the road in the 2022 season.

The Jaguars are 0-5 Since September

The Jags started the season in top gear, winning two of their first three games of 2022. But then, they entered a losing streak, with five straight defeats.

The worst thing is that in those games, they played against teams that aren’t much better (if all) than their next opponent. For example, they lost to the Texans in Week 5, and the Colts in Week 6.

They also failed to beat the struggling Broncos last weekend, in a game played in London’s biggest stadium, Wembley. The Brits didn’t get to enjoy a spectacle that evening, with Denver winning 21-17.

Las Vegas Raiders vs Jacksonville Jaguars Week 9 Prediction

The Raiders have so much talent in the offense – Derek Carr (QB), Davante Adams (WR), Darren Waller (TE), and others – that they should have no problems outplaying the Jaguars defense. But what about the other way around?

Led by second-year QB Trevor Lawrence, the Jaguars have shown glimpses of pure class in a couple of games this season. The trouble is that it happened weeks ago. In recent times, they just don’t look very sharp.

Picks: Las Vegas Raiders to win and cover the spread; over to hit



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Table Trac Deploys CMS with Golden Buffalo Casino & Motel

Table Trac Deploys CMS with Golden Buffalo Casino & Motel


Image Source: Shutterstock.com (Photo by urn_Mug)

Table Trac, Inc has entered into a new partnership with the Golden Buffalo Casino and Motel in Lower Brule, South Dakota. The partnership will see the supplier and developer of casino information and management systems deploy its CasinoTrac system, which is a dedicated Casino Management System. Golden Buffalo Casino & Motel General Manager Quintin HT McGhee welcomed this opportunity and said:

We are excited for the installation and future launch of Casino Trac’s integrated slot accounting and customer reward programs.

Golden Buffalo Casino & Motel General Manager Quintin HT McGhee

He said that Casino Trac’s system will be capable of delivering the necessary experiences for guests and help optimize the facility’s own operations and results. One of the things that McGhee is looking forward is to leveraging the CasinoTrac system to make sure that the property builds up loyalty with existing customer, and also help drive customer growth.

Steady Growth for Table Trac and Partner Businesses

Table Trac Inc president Chad Hoehne was similarly pleased with the partnership and said that the Golden Buffalo was an important partner. “We are pleased that the Golden Buffalo has chosen the CasinoTrac management system and are confident that our suite of products will help the Casino meet their collective objectives and grow their business,” Hoehne said.

Table Trac has been a lot in the news of late. The company deployed its casino management system with a number of Havasu Landing Resort & Casino at the beginning of October. In August, the company signed two deals with Alabama-based casinos.

Sales for the company also were reported as strong, as Table Trac has established itself as one of the go-to casino management platform providers, and it has assisted a number of prominent properties to better connect with their customers and visitors.  



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Boyd Completes Pala Interactive Acquisition

Boyd Completes Pala Interactive Acquisition


Nevada-based gaming and hospitality company Boyd Gaming has finalized its acquisition of the B2B real money and social casino provider Pala Interactive. The agreement will see the former company in possession of all of Pala Interactive’s assets and subsidiaries.

Boyd Acquires Pala Interactive, as Planned

The acquisition deal was first announced in late March this year and is Boyd Gaming’s bid to expand its business. As per the agreement, Boyd paid Pala Interactive a total net cash consideration of $170 million and is now in control of all of its brands and businesses.

When the M&A deal was first announced, Pala Interactive, which is a tribal iGaming band created by the Pala Band of Mission Indians, said that it is excited to join Boyd and continue to affirm itself as a leading online gambling supplier.

Back then, Jim Ryan, Pala Interactive’s CEO, said that the agreement with Boyd is “the result of a considerable capital investment and lot of hard work.”

CEO Smith Welcomed Pala to the Boyd Family

Now that the deal has finally been closed, Keith Smith, Boyd Gaming’s chief executive officer, said that online casino gaming is a great opportunity for his company. He explained that the acquisition of Pala Interactive will arm his team with the technology, products and expertise it needs to cement itself as a profitable regional iGaming business.

Smith concluded that his team is thrilled to welcome Pala Interactive to the Boyd family and work with it to expand the companies’ presence in the iGaming sector.

We look forward to working with the Pala Interactive team in executing our online casino gaming strategy, which will complement our existing land-based operations and further expand our nationwide customer base.

Keith Smith, Boyd Gaming, CEO

Boyd Gaming’s Business Is Going Strong

In other news, a week ago, Boyd Gaming posted its financial results for the third quarter of the year. As it turns out, the gaming specialist’s business is doing great despite the global economic challenges.

Although the company only has a modest year-on-year revenue increase of 4%, this is still more than many of Boyd’s competitors can say. The company’s revenues for the period capped at $877.3 million with a net income of $157.0 million and an EBITDA of $337.7 million.

These results followed up on a strong second quarter when the company hit stellar revenue of $894.5 million, with a net income of $146.8 million and an EBITDA of $353.9 million.

The acquisition of Pala Interactive will likely further strengthen Boyd Gaming’s already powerful business.



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SCCG Confirms Intent to Invest in Bettor Fantasy

SCCG Confirms Intent to Invest in Bettor Fantasy


SCCG founder and CEO Stephen Crystal has said that his company will back Bettor Fantasy, a fantasy betting platform and brand. Moving forward, SCCG will provide capital investment, offer strategic advisory services, and not least, draw a business development plan to help the fantasy platform grow and reach new audiences.

SCCG to Invest in Bettor Fantasy and Boost Company Growth

Commenting on this opportunity, the executive noted that Bettor Fantasy brings a unique product that allows it to connect with fantasy sports fans and lets them place a bet on their favorite fantasy games. He further explained:

At SCCG, we focus on investing in innovative technology and Bettor Fantasy is truly a one-of-a-kind platform.

SCCG founder and CEO Stephen Crystal

SCCG confirmed that the company has been a consistent investor in the fantasy gaming space and it intends to remain such.

The news was similarly welcomed by Bettor Fantasy co-founder Sahil Patel who said that SCCG leveraged and brought more than 30 years of expertise in the gaming space which will no doubt benefit the firm. The executive said:

The SCCG team has the experience and track record to help Bettor Fantasy further innovate within the gaming ecosystem and grow our business alongside proven industry leaders.

Bettor Fantasy co-founder Sahil Patel

Bettor Fantasy introduces sports fans to various daily fantasy contests, proposition pools, in-game micro-betting options, and regular player prop parlays. There is a number of excellent fantasy options to explore that will now continue to grow and develop to cater to even more tastes and preferences.

SCCG has been a prolific investor and the backbone of many successful business operations in North America and beyond. The company helped through its consultancy services with the rollout of the Quinault Beach and Resort Casino in Washington State.

In another partnership, the company again deepened its existing ties with the B2B provider of TV sports data Ronin Sport. BGaming is another name that recently teamed up with SCCG Management to help reinforce its North American expansion.



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Sports Teams, Orgs Push for Texas Sports Betting in 2023

Sports Teams, Orgs Push for Texas Sports Betting in 2023


The Texas Sports Betting Alliance has been vocal about legalizing sports betting in the Lone Star State since 2021, and now 2023 seems like could be the year they manage to accomplish that. In the end, however, no matter what happens with the legislature, it will be Texans who have the final say.

High Hopes Bring Life into Conversation

A recent KPRC 2 Investigates interview with Kenneth Fuchs, head of sports at Caesars, brought back to light the conversation about legal sports betting in Texas. According to the interview, this could be a very impactful change not only for the state but also for the operator. This is thanks to the fact that Texas has been touted as a potential competitor to Illinois, Nevada, New York and California, at least in projections for what the industry could look like in the state.

While it’s generally expected to have conflicting numbers in speculations, it’s also true that most industry experts who have had their say about sports betting in Texas agree it has great potential. Numbers by and large settle around the $200,000 to $300,000 range, depending on how optimistic the person you’re talking to is, with the Alliance mentioning $250,000 on its website.

The Alliance operator partners include BetMGM, DraftKings, FanDuel and Barstool Sportsbook, and multiple teams support the idea of legalizing sports betting in Texas. The target for 2023, however, does seem unlikely if any kind of launch is in the talks, given the fact that legislation is nowhere near ready.

Setting the Stage for Legislative Session 2023

Nevertheless, with the approaching 2023 legislative session, it’s worth taking a look at what’s currently happening and seeing how it compares with previous periods. The 2021 legislative session saw a big push to at least start talking about sports betting in the second-largest state on a more serious level. Texas lawmakers shut that down, however, with a few bills dying in committee.

The Texan population was also supportive of expanding gambling in the state in general, with more being eager to see casino gambling, and sports betting getting less attention. Regardless, this still prompted the legislature to act and start considering betting in the state more seriously. As past years weren’t as successful in even sparking action by lawmakers, this was still considered a win by proponents.

This year’s push has been the biggest one yet, with lawmakers now devoted to finding a workable solution and introducing casino and sports betting in the state. Las Vegas Sands (LVS) launched a campaign in Texas back in 2021, and this year saw the creation of Texas Sands – a political action committee (PAC) devoted to supporting casino and race gambling in the state.

Add to that multiple teams supporting sports betting, as well as numerous more examples and the stage for next year’s legislative session is pretty much set. Texas lawmakers will reconvene for the 88th legislative session on January 10, 2023, which will end on May 29, 2023. During these 140 days of the regular sessions, lawmakers will have the opportunity to try and expand gambling in the state of Texas.



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Pragmatic Play Boosts NorthStar Gaming Content in Ontario

Pragmatic Play Boosts NorthStar Gaming Content in Ontario


Pragmatic Play continues to expand in Canada, the United States and North America in general. The supplier of popular iGaming titles such as The Dog House, Chilli Heat and Wolf Gold has signed a new partnership focusing on the market in Ontario, Canada. The latest partnership has been set up with NorthStar Gaming, which holds a license to operate in the province.

More Award-Winning Slots Coming to NorthStar Bets

Moving forward, NorthStar Gaming will now be able to power the NorthStar Bets brand with a number of Pragmatic Play games which have been an important boost to the portfolios of numerous brands across the region. Among the games that are being added are Sugar Rush, Big Bass Splash, Gates of Olympus, and more.

NorthStar Bets is a brand that is specifically built and tailored for the needs of players in Ontario, and it offers a unique experience to local players. The addition of more top-range titles by Pragmatic Play will give a significant boost to the local market. Pragmatic Play has already established a number of partnerships with prominent companies over the past months, including with 500 Casino, Fortuna Entertainment Group, bet365 and other worthwhile operators and brands.

Pragmatic Play CCO Irina Cornides said that the company was delighted to deploy its award-winning slots with NorthStar Bets. She continued:

The NorthStar team has a strong vision of what they can achieve in the growing Canadian market, and we’re excited to deliver our content within the immersive NorthStar Bets online casino for slots fans to enjoy.

Pragmatic Play CCO Irina Cornides

NorthStar Gaming CEO Michael Moskowitz, who is also a founding partner at the company, added that Pragmatic Play has a distinguishable portfolio that will factor in the success of the NorthStar Bets brand in Ontario. “We’re excited to provide our players with an immersive and content-driven gaming experience that also features some of the most popular slots,” Moskowitz concluded. Pragmatic Play has just signed a partnership with Casinò Lugano in Switzerland and launched with the land-based operator’s online casino brand, Swiss4Win.



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Nexiux Solutions Teams up with Hub88 for More Content

Nexiux Solutions Teams up with Hub88 for More Content


Nexiux Solutions and Hub88 have teamed up for a new content aggregation partnership. Moving forward, Nexiux Solutions’ iGaming solutions will benefit from Hub88’s platform and deliver even more captivating experiences to players. Hub88 already features more than 120 suppliers and is committed to continually expanding its proprietary offering through OneTouch and Bombay Live, its own studios.

Nexiux Solutions Gets Content Boost to Help Partners Build Up

What this means is that Nexiux Player and Nexiux iGaming Platform partner operators will now also have access to dozens of software suppliers that bring top-of-the-range games designed to elevate experiences and create more captivating gameplay across the board. Those games include Pragmatic Play, Play’n Go, Microgaming, Red Tiger, and many more.

Nexiux offers a highly-customizable, modular iGaming platform that makes it easy for the company to provide an excellent product to its partners. The firm is known for its CRM, player management, and player and customer service products which are some of the best in the iGaming industry. Nexiux solutions already help power prominent iGaming names, such as Stake, SBOTOP, Sportsbetio, FUN88, and others. Nexiux Solutions Gets Content Boost to Help Companies Build Up

Commenting on this fresh opportunity Nexiux Solutions head of products Rob Verdia said that the company was fully committed to making sure that players have access to excellent content. He added:

Partnering with Hub88 allows us to access thousands of titles from some of the biggest developers in the business, as well as bringing more differentiation to our platform via games from its in-house studios. This is why we are emerging as the go-to platform provider for leading casino brands.

Nexiux Solutions head of products Rob Verdia

Hub88 general manager Jose Micallef was similarly pleased with the opportunity and said that Nexiux Solutions platform operators now have the opportunity to pick from excellent titles made possible through the aggregation solution. Recently, Nexiux Solutions signed up a partnership with Loqate to ensure that it helps with customer onboarding and makes the process more streamlined.



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Caesars Windsor Reveals New Kiosks Ahead of Sportsbook Lounge

Caesars Windsor Reveals New Kiosks Ahead of Sportsbook Lounge


Image Source: Caesars Windsor

Caesars Windsor made exciting news on Tuesday, revealing a number of sports betting kiosks on its property, a precursor to the facility’s upcoming dedicated sports betting lounge. This builds upon the momentum for legalized sports gambling in the province of Ontario, Canada, and is part of brands to maintain a strong land-based presence which complements the interactive gambling industry that is rapidly taking place.

Caesars Windsor Offers a Taste of Its Sports Betting Product

The kiosks are set to become operational on Thursday, and they are located inside the Poker Room on the main Skybridge entrance floor. Commenting on this, Caesars Windsor president Kevin Laforet welcomed the opportunity:

We’re thrilled to offer sports bettors a chance to get in on the action with all their favorite sports and enjoy the thrill of single event betting as part of our resort experience at Caesars.

Caesars Windsor president Kevin Laforet

The kiosks will be offering the full services of the upcoming lounge, Laforet added, as it is currently under construction. The lounge will feature a number of sports betting windows and 22 65-inch TV screens that will help sports fans who come in person follow the sports betting action.

The new lounge will be located right across from Legends Sports Bar and it will be ready early into the new year, and ahead of the Super Bowl, which should give Caesars Windsor another boost in terms of sports betting handle.

There will be excellent dining and betting options all over the place, Laforet assured and said that the Caesars Sportsbook will bring sports fans the experience they have always looked forward to. In the meantime, both the United States and Canada remain important markets for the company, which has been scaling up its presence in every regulated betting and gaming market across the North American region.

Most recently, the company reported its third-quarter results which marked a significant year-over-year improvement.



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