International Game Technology (IGT), a global leader of entertaining and responsible gaming experiences, separates its lottery and gaming operations. Following internal audits of its Global Lottery, Global Gaming, and PlayDigital divisions, the company reportedly moves to continue its lottery operations as an independent business. At the same time, IGT Global Gaming and PlayDigital divisions will merge with a leading supplier of gaming platforms and technology solutions, Everi Holdings, into a single company worth $6.2 billion, as Reuters reports.

Separating Lottery Operations from Gaming and Betting Units:

IGT Global Lottery reportedly generates more than 50 percent of the group’s revenues. Therefore, it will continue to exclusively focus on own operations, while the two units will join forces to continue offering gaming systems, iGaming, and sports betting as a part of the new entity formed with Everi Holdings. As reported, IGT Global Gaming and PlayDigital will hold title over around 54% of shares of the new venture while Everi will hold the remaining 46%. The source reports that the value of the merger is assessed at around $6.2 billion.

Merger Looking to $2.7Billion in 2024 Revenues:

IGT and Everi expect the deal to bring extensive benefit to shareholders. The combination of a comprehensive and diverse portfolio of gaming and sports betting content, coupled with the fintech solutions, will render the new entity a significant competitive advantage. According to Reuters, the merger is projected to generate 2.7 billion in revenues still in 2024. IGT CEO Vince Sadusky will lead the combined company which will be based in Las Vegas, while IGT Global Lottery will be led by a new CEO, as reported by Reuters.

In the press release, Vince Sadusky, IGT CEO, said: “We are bringing together two businesses with complementary strengths that are stronger and more valuable together. The combination results in a comprehensive and diverse product offering, addressing more aspects of the gaming ecosystem across land-based gaming, iGaming, sports betting, and fintech. The creation of separate gaming and lottery companies, each with experienced management teams and simplified business models, better positions each company to service customers and create significant value for stakeholders.“

Michael Rumbolz, Everi Executive Chairman stated: “We believe this merger combines two highly complementary businesses in a transformational manner, creating a global, land-based and digital gaming, fintech and systems business. We expect the combined company will deliver a comprehensive range of products and services that will engage gaming patrons and drive efficiencies and revenues to our customers.”

Regulatory Approvals Posing Risks to Projected Revenues:

As reported by Reuters, Truist analyst Barry Jonas commented: “The deal doesn’t assume a huge premium for either businesses but could setup over time for a gaming tech powerhouse.”

In addition, the deal is reportedly expected to save around $85 million in costs. But the revenue projected for 2024 may depend on potentially lengthy regulatory approvals. The Truist analyst refers to these as ”significant risks posed by the deal’‘, according to the source.

The merger deal is reportedly expected to close by the end of 2024 or early in 2025. Once regulatory approval have been received, the combined company will launch its operations under the name International Game Technology, according to Reuters. The same source reports that the company will be listed on the New York Stock Exchange as IGT.

Online sports betting has not yet launched in North Carolina – that comes in a week and a half – but the engine is getting warmed up as operators have been granted licenses and player registration has begun.

On Thursday, February 29, the North Carolina State Lottery Commission (NCSLC) announced the first eight operators to be granted licenses. They are (in alphabetical order): bet365, BetMGM, DraftKings, the Eastern Band of Cherokee Indians, ESPN Bet, Fanatics Sportsbook, FanDuel, Underdog Sports. Caesars, which has a supplier license, will run the Eastern Band of Cherokee Indians’ online sportsbook.

State law permits up to a dozen online sports betting licenses, and though the commissioners believe they will see more applications, it may be unlikely that every slot gets filled, as most of the major players are accounted for. The Catawba Indian Nation also applied for one of the $1m licenses, but has not gotten the green light yet.

actual betting, however, does not start until noon on Monday March 11

Customers at least 21 years of age can begin registering accounts and depositing funds starting at noon today, Friday, March 1. The actual betting, however, does not start until noon on Monday March 11, just in time for all or portions of the NCAA basketball conference tournaments and about week before the men’s and women’s national tournaments begin.

North Carolina has three retail sportsbooks at casinos: Harrah’s Cherokee Casino Resort and Harrah’s Cherokee Valley River in the western part of the state, just north of Georgia, and Catawba Two King’s Casino west of Charlotte.

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Relax Gaming, one of the world’s top aggregators and creators of games for online casinos, has announced that a lucky player has managed to trigger its Dream Drop Mega Jackpot while enjoying online casino games at LeoVegas.

This is the thirteenth millionaire created by this jackpot and this time the lucky winner landed a prize worth 2.9 million euros after having placed a bet of just 22 cents on Cosmic Rush Dream Drop, an online casino game created by Four Leaf Gaming. This is the first time this jackpot drops in 2024 after having been triggered seven times in 2023 for a grand total prize of just over 18 million euros.

Cosmic Rush Dream Drop is a brand new online casino game, it was released by Four Leaf Gaming on January 11, 2024, and it is also the latest game that the studio has published. The game offers players the opportunity to win up to 6,000 times their stake thanks to its various features and mechanics such as Rush Meter, Instant Cash Collect, Cash Rush and Wild Rush Free Spins.

Four Leaf Gaming was founded in 2021 by John Quinn and Andy Hollis, two professionals with plenty of experience in the industry after having worked for gaming giant Microgaming for several years.

A Successful Content Provider

Relax Gaming is one of the most successful content providers in the iGaming industry, having sealed multiple partnerships with top online casino operators from all over the world. The supplier has become a household name in the industry after having released the Money Train slot game, which then developed into a series which comprises five titles at the moment.

The supplier has also received several awards for its efforts, including the Global Gaming Award for Product Launch of the Year in February 2023 for Dream Drop Jackpots. Moreover, Money Train 3 won Slot of the Year at the 2023 CasinoBeats Game Developer Awards while the company also won the award for Skill Games Supplier at the 2023 EGR B2B Awards and also the Innovation in Mobile award at the 2023 SBC Awards.

Relax Gaming currently offers its online casino partners more than 4,000 online casino games, ranging from its proprietary titles to a library of games supplied by third-party developers which have signed partnerships with the brand.

Source: “Lucky thirteen as Relax Gaming and LeoVegas celebrate latest Dream Drop Mega Jackpot winner“. Relax Gaming. February 28, 2024.

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Competition coming together

The announcement of a merger between International Game Technology (IGT) and Everi in a deal worth $6.2bn has caught Wall Street off-guard. Analysts expected IGT to spin off its slot machine division, but the multibillion-dollar deal announcement came instead.

agreement gives a $4bn valuation to IGT and $2.2bn for Everi

Announced on Thursday, the agreement will see the two major competitors join forces, merging their extensive operations in the online and land-based gambling industries. The agreement gives a $4bn valuation to IGT and $2.2bn for Everi.

IGT will turn its lottery division into its own company, as the segment currently accounts for more than half of its annual revenue. The remainder of the business will merge with Everi to form a “comprehensive and diverse global gaming and fintech enterprise,” named International Game Technology Inc.

Current IGT CEO Vincent Sadusky will serve as the head of the new entity.

Many benefits

Execs expect the merger to create $85m in synergies and the newly formed company to generate an estimated $2.7bn in revenue this year. The deal is still subject to the respective regulatory approvals and receiving support from both sets of shareholders.

hope that the agreement will become official by the end of 2024

Both boards voted unanimously in favor of the deal and hope that the agreement will become official by the end of 2024 or early next year. The plan is for IGT shareholders to control approximately 54% of the new company’s shares, while the other 46% will go to Everi shareholders.

IGT will receive cash worth about $2.6bn as part of the agreement, $2bn of which will go towards repaying existing debt. IGT’s share price jumped almost 6% off the back of the news on Thursday.

An exciting future

Talking about the benefits of the agreement, IGT Executive Chair Marco Sala said that both companies have similar potential, geographical presence, and capabilities.

Everi CEO Michael Rumbolz echoed these sentiments, explaining that he sees the new entity delivering wide-ranging “products and services that will engage gaming patrons and drive efficiencies and revenues.”

One of the biggest revenue drivers for the two companies is land-based slot machines. The new entity will have a portfolio of 70,000 such machines.

IGT’s board of directors have been reviewing the business to decide on the best course of action for the company, including the future of its lottery division. Existing IGT shareholders will own 100% of the lottery business, management believing this segment is well-positioned for long-term success. It will eventually change its name and be tradable on the New York Stock Exchange with a different ticker symbol.

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The NBA is the most followed sports league in the world. Its players, both past and present, are global superstars. Thanks to huge player salaries and lucrative business deals, many of them also happen to be incredibly rich. Let’s break down the 10 richest NBA players of all time…

10. Kevin Durant – $300 million net worth

One of the NBA’s most lethal scorers, Kevin Durant is also among the league’s best paid athletes. Insider reported that Durant has earned over $300 million, making him the third highest paid NBA player of all time. 

Now playing for the Phoenix Suns, Durant is searching for his next NBA championship since leaving the Golden State Warriors in 2019. The intervening years had been difficult with Durant’s old team, the Brooklyn Nets, who struggled to make an impact during the playoffs

Off the court, Durant’s success has been more consistent. Each year he earns millions through investments with his company, 35 Ventures. He’s also secured endorsement deals with Coinbase, NBA Top Shot and Weedmaps.

Durant is also a Nike sponsored athlete. Interestingly, his contract with the shoe company includes a $50 million kicker that will be gifted to him when he retires. 

9. Grant Hill – $300 million net worth

Earning over $100 million during his basketball career set Grant Hill up for success when he retired in 2013. Taking advice from his ex-NFL playing father, Hill made sure to not squander his earnings and turned his fortune into a real estate empire. 

Today, his company, Hill Ventures, has developed over $200 million worth of projects. 

Outside of real estate, Hill is a co-owner of NBA franchise The Atlanta Hawks. He also owns a large portfolio of art works created by Black artists. 

Hill even organized a three year, seven city tour of his personal art collection in the hope it would inspire other Black Americans. 

After being admitted to the Hall of Fame in 2018, Hill signed a lifetime deal with shoe brand Fila to recreate his line of shoes that were first released in the 1990s.

8. Hakeem Olajuwon – $300 million net worth

Another ex-NBA star that has turned to property is center, Hakeem Olajuwon. During his career, Olajuwon won two NBA Championships with the Houston Rockets. He was also the first non-American to win the MVP award.

During the final years of his career, Olajuwon began to set aside money for real estate, an important step as his faith forbids him from borrowing money via loans.

Today his portfolio is large and varied. A fact he partially attributes to the home court advantage he has when closing deals in Houston.

7. Shaquille O’Neal – $400 million net worth

Shaq is known for his incredible size, strength, and athleticism on the court, but has also built just as large a reputation off it. This is thanks to his personality, humor, and business knowledge. 

Earning nearly $300 million during your playing career is a great way to start any retirement, but Shaq has not rested on his laurels. Instead, he has built himself into a brand, starring regularly on TNT’s coverage of the NBA as well as featuring on other TV programs, and hosting a podcast. 

Shaq also invests heavily. He has owned shares in both Google and Apple. Throughout his business career he also owned 155 Five Guys franchises. 

6. Vinnie Johnson – $500 million net worth

Unlike the other players named on this list so far, Vinnie Johnson was not a generational talent. Although he did play a key role in the Detroit Pistons back-to-back championships in 1988-89, 1989-1990. 

Nicknamed “The Microwave” for his ability to heat up an offense, Johnson’s best moment came in 1990 when he hit the championship winning shot.

However, Vinnie spent most of his career coming off the bench and only amassed career earnings of approximately $6 million.

With this money, Johnson launched an automobile supply company called Piston Automotive which eventually formed part of Johnson’s larger empire, Piston Group. 

The company supplies car parts to leading manufacturers and has long outgrown its home in Detroit. It can now be found throughout the Midwest. 

The company’s annual revenue has been recorded at an incredible $2.9 billion.

5. Kobe Bryant – $600 million net worth

At the time of his death in January 2020, Kobe Bryant was worth an estimated $600 million. 

During an incredible career with the Los Angeles Lakers, Bryant won five NBA championship rings and earned $680 million through both his salary and endorsements. 

Joining the NBA straight from high school, Bryant wasted no time making money. His first sneaker deal was a six-year contract with Adidas worth $48 million dollars. 

Of course, Bryant will always be remembered as a Nike athlete and his signature Kobe trainers are some of the most popular in the NBA.

Bryant also formed Granity Studios; a multimedia content company that won an Academy Award for an animated short film titled “Dear Basketball”. 

The Bryant empire continues to thrive despite Kobe’s untimely death. The family and Nike re-signed in 2022, meaning Bryant’s popular range of shoes will continue to be available to hoopers all around the world. 

4. Ulysses “Junior” Bridgeman – $600 million net worth

6) In 2016, as part of a bottling and distribution deal with The Coca-Cola Company, Junior Bridgeman agreed to sell off his fast-food franchise locations.

The agreement with Coca-Cola granted Bridgeman exclusive operations in parts of Kansas, Missouri, Illinois, and Nebraska. pic.twitter.com/c4xezVh81q

— Joe Pompliano (@JoePompliano) August 31, 2022

Junior Bridgeman’s highest salary for a season in the NBA was only $350,000. The total earnings of his playing career amounted to just over $4 million. Yet, he is one of the richest NBA players of all time. 

Bridgeman built his incredible fortune through buying Wendy’s franchises after learning how to run the restaurants during his off seasons. 

When he sold his restaurant empire in 2016, it included approximately 250 Wendy’s franchises and 120 Chilli’s restaurants. 

Bridgeman sold his empire to become a bottler for the Coca-Cola Company. His new company, Heartland Coca-Cola Bottling Co. operates 17 distribution centers and employs nearly 2,500 staff members. 

Bridgeman also owns Ebony and Jet, two magazine brands which he purchased together for $14 million. 

3. LeBron James – $1 billion net worth

LeBron James, the NBA’s highest ever scorer, comes in at second on our list. But he is actually the richest active NBA player.

James is a towering figure in the world of sport and is one of the most famous athletes ever. Now with the Los Angeles Lakers, James has brought championships to every team he’s played for. His legacy is unrivaled in the modern game. 

Like Kobe Bryant, James joined the NBA straight from high school. Fast forward to 2022, when James signed a $97.1 million, two year contract extension with the Lakers. This made James the highest paid player in NBA history.

This has done little to diminish his earning potential off the court. Instead, James has flourished, making millions through off court business ventures and endorsements . 

Thanks to his salary, endorsements and business moves, James is the first active NBA player to be a billionaire. An achievement that is down to him taking equity in companies as opposed to cash. 

To cap it all off, James is one of only three athletes to have a lifetime Nike deal. He signed the deal in 2015 and receives $32 million from the brand annually. 

2. Magic Johnson – $1.2 billion net worth

One of the most famous NBA stars of all time, Magic Johnson’s salary earned a modest $39 million during his playing career. This was partly because the era he played in didn’t pay as much as the modern day. Another reason was the 25-year, $25 million contract he signed with the Lakers in 1984.

Despite this, Johnson has managed to build a huge fortune.

Unsurprisingly, Johnson’s business empire has been focused on sport. He used to own 4% of the Los Angeles Lakers and still owns stakes in the LA Dodgers, LA Sparks, and Los Angeles FC. 

Magic Johnson Enterprises, his investment firm, is estimated to have holdings worth $1 billion. 

However, Johnson hasn’t always made the right business move. In 1979, a small shoe brand called Nike approached him with a sponsorship opportunity. Instead of money they were offering to pay him in stocks. Johnson turned them down and stuck with Converse, losing out on millions of dollars in the long run. 

1. Michael Jordan – $3 billion net worth

Of course, it’s Michael Jordan, the six-time NBA champion, that tops our list of the richest NBA players of all time. One of the most marketed athletes ever, Jordan was the global face of the NBA from 1984 to his final retirement in 2003. 

Jordan’s total salary from his NBA career was around $90 million. But it was through Nike’s Jordan brand that he made his fortune. 

This is because Jordan takes 5% out of every Jordan Brand item sold. Marca reported that Nike sells $15 million worth of Jordan Brand items every day. So, it’s not hard to see how Jordan has reached a net worth of $3 billion.  

This isn’t to say MJ doesn’t have other sources of income. 

Jordan took over the NBA franchise The Charlotte Hornets in 2010, when they were valued at $175 million. In 2022, the franchise was valued a whopping $1.7 billion. In August 2023, Jordan sold his majority stake in the Hornets, retaining a minority share.

Jordan also owns a NASCAR team, 23XI Racing along with three-time Daytona 500 winner Denny Hamlin. To cap it all off, he is an investor and advisor for sportsbook DraftKings.

It’s nice to see that with all of that money, he does a lot of good:

Enjoyed this? Check out some of our other NBA articles, such as the 10 most popular NBA arenas, the average height of an NBA player, and the NBA players with the largest hands.

Lead image credit: Kip-koech/Flickr, CC BY 2.0

While some players will settle for a live casino for the closest thing to a visit to Vegas, there is no substitute for the real thing. The key is to stay at one of those hotels that will make it tough to want to leave. These are the best hotels available in Las Vegas for 2024 where you can gamble, play slots, and enjoy your vacation.

Encore at Wynn Las Vegas

If you are all about the nightlife, the Encore at Wynn is the best place to go. It has luxurious accommodations like the cabana-lined pool. The rooms themselves are stunning, featuring floor-to-ceiling windows.

The nightclub scene, however, is the real draw. Famous DJs like Diplo, The Chainsmokers, and Calvin Harris have dropped in regularly. The spa is also one of the most relaxing on the strip, providing an all-inclusive Vegas experience.

Skylofts at MGM Grand

Most out-of-towners want to stay on the famous Strip. If you plan on visiting a massive luxury casino as well as one of the best hotels in town, the Skylofts at MGM Grand can’t be beaten. With more than 5,000 rooms to choose from, there are 51 penthouses at the very top.

Concierges can help with tough reservations, including Michelin-star restaurants. Steam showers, pool tables, private jacuzzi terraces, and even media rooms with the latest from Bang & Olufsen are all available in select suites. If you want to live a life of luxury on the Strip, this is the place to do it.

Aria Resort & Casino

The stunning all-glass façade is impressive enough. When you get inside, things are even more impressive. The Sky Villas have their own suites and entrances, a private pool, and even airport transportation provided.

The desert-style suite also comes with tremendous amenities like custom drink coasters, backgammon for kids, butlers pushing a cigar cart, and even fresh-baked bread and cookies. It is also within walking distance from premier shopping, restaurants, and T-Mobile Arena.

Nobu at Caesars Palace

There may be no more visually luxurious hotel on the list than Nobu. It has a warm welcome inspired by Japanese art and boutique quaintness. Guests will have access to butler service, a garden and whirlpool, limo transportation, and can even enjoy a VIP omakase dinner at the famous Nobu restaurant downstairs.

Though it may not have the modern flash that the Aria Resort & Casino has, this relaxing yet high-end hotel delivers an experience that no other Vegas hotel can match.

Conclusion

With so many beautiful places to stay throughout Las Vegas, coming to a decision can feel impossible. Thankfully, staying at one of these luxurious hotels will provide the kind of once-in-a-lifetime experience that only Las Vegas can.

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A frontrunner

The race for the three coveted downstate New York casino licenses is heating up, with many big names in the gaming industry now battling it out. The existing slots parlors at the Yonkers Raceway and Aqueduct Racetrack are currently the frontrunners for two of the permits.

The latter is home to the Resorts World New York City racino which currently offers more than 6,500 slot machines. It’s aiming to get the green light to expand its offering to also offer table games like baccarat, poker, roulette, and blackjack.

the development of a new 7,000-seat concert venue

As part of that expansion, the operator has also teased some other plans. This would include the development of a new 7,000-seat concert venue. It also plans to invest $50m to develop a Genting Innovation Campus that would feature an academy for up-and-coming sports stars.

Some interesting ideas

Resorts World is holding a press conference on Thursday to provide more details. Some major entertainers who hail from the local Queens area will attend the event. The total development plan would generate 10,000 jobs between the construction process and when the facility is fully open for business, according to the operator.

Resorts World is the biggest taxpayer in New York State

Malaysia-based casino company Genting owns Resorts World, opening the property in 2011 after the state’s lawmakers gave the green light for racinos. Resorts World is the biggest taxpayer in New York State, contributing more than $4bn to the state since it started operating about a dozen years ago.

The owner has pumped about $1.1bn into the property over the years, including the development of a 400-room hotel near JFK Airport. Part of its business plan when originally securing a racino license was attracting stranded travellers at the airport that is just minutes away.

Race heating up

The availability of the three downstate casino licenses has attracted huge interest. Billionaire and New York Mets owner Steve Cohen hopes to develop a casino adjacent to the team’s Citi Field, while Jay-Z is backing a Caesars Entertainment-operated casino on Times Square.

Genting currently has three casinos in the US. As well as the Queens property, it has a casino on the Las Vegas Strip and another in upstate New York.

Other sites under consideration include Coney Island, Hudson Yards, and Ferry Point. Each license will cost $500m and lawmakers hope that these casinos will be a strong revenue driver for the state going forward. The official application process has not yet begun and it could take until next year to issue the approvals.

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Galaxy Entertainment Group revealed net income of HK$10.3bln, which is approximately US$1.32bln, for the period of 3 months leading to December 31 of the previous year, which jumped by 254% compared to the previous year and by 7% consecutively as it proceeds to recover from the years when pandemic reined.

Revenue data for Q423:

The above figures involved gross gaming income of HK$9.24bln, which is roughly US$1.18bln, and which increased by nearly 6% compared with the results from the September’s quarter of last year. In addition, adjusted EBITDA of HK$2.8bln, which is roughly US$358m, countered a loss of HK$163m, which is roughly US$20.8m, from the fourth quarter of 2022 and was largely in accordance with the third quarter, even though the aforementioned firm pointed out that it performed poorly to the tune of HK$103m, which is roughly US$13.2m, for the said quarter.

In terms of segments, the mass table drop saw an increase of 2.6% to HK$30.7bln, which is approximately US$3.92bln, with earnings of HK$7.83bln, which is roughly US$1.0bln. Additionally, rolling chip volume also experienced an increase of 6.6% to HK$34.6bln compared to the same quarter to HK$34.6bln, which is approximately US$4.42bln, with earnings of HK$909m, which is approximately US$116m, according to Inside Asian Gaming.

As for electronic gaming, its volume rose by 14.6% to HK$16.4bln, which is approximately US$2.10bln, with earnings of HK$508m, which is roughly US$64.9m.

Profit data for FY23:

Regarding the entire fiscal year 2023, the said firm revealed an increase in net income of 211% to HK$35.7bln, which is roughly US$4.56bln, compared to the previous year, and gross gaming income rose by 322% to HK$31.7bln, which is approximately US$4.10bln. As for adjusted EBITDA, it amounted to HK$9.96bln, which is approximately US$1.27bln, which indicates that it has countered a loss of HK$553m, which is roughly US$70.7m, and which represents a 2022 Adjusted EBITDA.

In addition to all these data, Galaxy Ent. also shared some information regarding its performance in the first quarter of this ongoing year, pointing out that its 5,000 hotel suits are currently occupied at almost 100% occupancy levels, with mass gaming drop and incomes throughout the recent Lunar New Year period achieving 120% from levels of 2019.

Commenting on the revenue data, Lui Che Woo, the firm’s president, commented in the aforementioned financial report that the positive outcomes, were reached regardless of relentless competition “in both Macau and regionally and several geo-political and economic issues that impacted consumer sentiment,” according to Asia Gaming Brief.

Furthermore, during the duration of the previous year, the firm managed to finish few development projects, involving the official opening of the premium mass Horizon Club, then Galaxy Arena, Galaxy International Convention Center and Raffles at Galaxy Macau.