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They were not unrealistic estimates imposed from outside or above. The take from table games and slot machines was about half of what the casino operators themselves had hoped they would be at this early date. They were well below the amounts that the people behind the casino expected when they were seeking one of the coveted licenses from the state. All this talk about the coming completion of the water park and more hotels and increased marketing are not comforting because all of those developments were not supposed to be in place by now. Once they are, the expectations for revenue will be even higher, making them that much harder to fulfill with such a poor start. While it is possible that the poor showing will be eclipsed by dramatic improvements over the next months, nobody who knows the industry is promising that. Ryan Eller, Empire Resorts' president and CEO, said “The results are indicative of a challenging marketplace … There’s a huge market out there, and we’re developing better ways to go after it.” They need to do that quickly because the people who determine the ultimate bottom line — the ability to pay off debt — are already squeezing. Moody’s, the credit rating agency, is already making it harder for the casino, downgrading the operating company’s debt to a low “negative” rating for debt “in poor standing” and threatening to push it lower should earnings remain weak. Even the comforting words from Moody’s were on the cold side, saying that the issue is not the quality of this casino but something impossible to control, market saturation which has had similar depressing effects on the other new casinos open in the state. Sports betting might help if New York ever got around to it.
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Daily fantasy sports operator FanDuel has partnered with the Greenbrier Resort in West Virginia in preparation for legal sports betting in the state later this year. The American sports betting landscape is starting to take shape in West Virginia, where the Greenbrier Resort has partnered with DFS giant FanDuel to offer sports betting across the state. (Image: Golf Resorts of the World) The agreement with Greenbrier calls for FanDuel to provide sports betting services at retail locations as well as online and on mobile platforms, and also suggests new directions for the world’s number two DFS company as the American sports betting landscape emerges. New York-based FanDuel is currently in the process of being acquired by European online betting stalwart Paddy Power Betfair, which in May announced the intent to merge FanDuel with Betfair’s US operation for an exchange of cash and stock. Though much of the deal between FanDuel and the Greenbrier is contingent on yet-to-be-finalized regulations established by the West Virginia Lottery Commission , early reports indicate sports betting will be allowed at the Greenbrier’s on-site casino and at the state’s four racetrack casinos, with FanDuel also able to provide online and mobile betting products to residents and non-residents physically located in the state. In May, the US Supreme Court ruled that a federal ban on most sports betting was unconstitutional, and since then individual states have begun roll out necessary laws and regulations state-by-state. West Virginia legislators passed a law legalizing sports betting in March, putting the state in a position to be an early adopter, following Delaware, New Jersey, and Mississippi, which expects to be taking bets before the end of July , as the first states outside of Nevada to open legal sportsbooks. The Greenbrier and FanDuel are saying they’ll be ready to start taking bets as early as the fall, assuming the West Virginia Lottery Commission finalizes regulations. West Virginia legislative leaders have expressed a desire to get a jump on neighboring states such as Ohio, Pennsylvania, Maryland, Kentucky, Virginia, and Tennessee. In 1994, West Virginia was one of the first to enter the gambling marketplace, and in doing so siphoned players and tax dollars.
Matt Zarb-Cousin from the Campaign for Fairer Gambling wants gambling advertisements to be restricted during football games. He said: "I think it's inappropriate before the watershed because children are seeing them... the response from the public is inevitable and we're storing up problems from the future." Mr Zarb-Cousin was a problem gambler and says his problem was exacerbated by gambling advertisements: "Research from Australia found that children, when they're watching the football and they see the ads, they think you have to have a bet to enjoy the game. Australia then went on to ban the ads during sporting events." Image caption Many fans will head to pubs to watch games, but those at home could encounter gambling adverts Viewers of the World Cup on ITV have expressed surprise on social media about the amount of gambling advertisements this week, but ITV said there were no more commercials this tournament than in previous ones. The Advertising Standards Authority (ASA) says they have received complaints this year and they always see a jump in complaints during big sports tournaments. But the watchdog only upholds complaints about the content of commercials, not the volume of them. Craig Jones from the ASA said: "The gambling market was liberalised in the mid-2000s, the one area we don't have control over is the volume of the gambling ads, but where the ASA does kick in is the content and content of the ads." There are strict rules surrounding gambling advertising. Adverts must not appeal to children, portray gambling as seductive, or suggest gambling can be a solution to financial problems and get you out of debt. Gambling companies regularly fall foul of the rules. This week the Advertising Standards Authority upheld a complaint against Coral for three games that featured cartoon characters of leprechauns and wizards. The regulator said the games and marketing materials could appeal to children.
The unveiling of Madonna's game. Living up to her name, the Material Girl signed a licensing agreement (projected to be worth more than $10 million, according to an industry expert) with casino gaming manufacturer Aristocrat Technologies for slots inspired by her hits (although she won't be descending from any ceilings, or likely appearing at all, at G2E). Ever since a Wheel of Fortune slot machine took the industry by storm two decades ago, manufacturers have been gravitating to licensed properties. That's meant bonus income for Hollywood studios (and the stars, who get a piece of the action if their faces are used) that can range from $1 million to $20 million, says gaming analyst Todd Eilers. In all, casino gaming manufacturers spend up to $200 million annually to land rights to popular brands like The Big Bang Theory and The Simpsons because a recognizable image can make all the difference on a casino floor. "[Gamblers] are more likely to play branded machines," says one licensing agent. "What does Wild Stallion [a line of Aristocrat machines] mean? But if you're a fan of Friends, you're likely to check that out." Stars previously were reluctant to plaster their faces on a one-armed bandit, but today's more sophisticated machines — 4K screens, Bose speakers — make that prospect feel less shady. "Ten years ago, gambling was a more controversial category," continues the rep. "But because the games have become more interactive and entertainment-friendly, the stigma has waned." Beyond royalty payments (even a contract that grants a few dollars per machine per day can translate to six figures annually for popular games), stars also benefit from a promotional boost. The licensing agent calls it "revenue-generating brand awareness," particularly for personalities that have a presence in Las Vegas, like Britney Spears, Celine Dion and Cirque du Soleil (who all have branded games on the Strip): "Anyone with a Vegas residency needs to get into the space because there's a natural association.