Gaming America: The Week on Wednesday
The Week on Wednesday: November 9, 2022
Welcome back to Gaming America’s newsletter in which we give you the top gaming industry stories from the Americas.
Lots of Q3 results were published over the past week, including MGM Resorts International and Caesars Entertainment. Elsewhere, it was reported that Hard Rock will officially begin running The Mirage next month. Good news for Flutter shareholders after a recent arbitration maintained FanDuel’s $20bn valuation. Last but not least, California voters said "no" to Proposition 26.
Hard Rock International to begin running The Mirage on December 31
Next month, ownership of The Mirage Hotel and Casino will finally switch hands. In December 2021, Hard Rock International announced a deal to pay MGM Resorts International $1.075bn to take over operations of the resort. Hard Rock has announced its intention to build a guitar-shaped shaped hotel on the property. Read the full article here.
‘No on Proposition 26’ campaign releases statement commending California voters
The “No on Proposition 26” campaign has issued a statement after California voters voted against a proposal to give tribal locations exclusive rights to operate state-wide sports betting. Union members, business organizations and veterans, along with city and local elected officials opposed Proposition 26 (Prop 26) due to a contingency that could potentially result in job loss throughout the state. Read the full article here.
Investor analysis: Flutter comes out on top in arbitration ruling versus Fox
Flutter Entertainment shareholders will be pleased by a recent arbitration that maintained FanDuel ’s $20bn valuation, according to analysts. This resolution represents a big win over Fox, which sought to undermine this valuation to purchase an 18.6% stake in the sports betting company. In a research note, Davy, Peel Hunt, Morgan Stanley and Barclays all strongly suggested the outcome was favorable for the industry giant. Read the full article here.
Other popular stories on Gaming America:
Recommended by LinkedIn
From Gaming America magazine:
Evolving apace
Gaming America meets with Martin Carlesund , the Group CEO of Evolution , to hear about the unique offerings of his behemoth company as well as its plans for the Americas. Read the full article here.
All articles from the latest edition of Gaming America magazine are available to read here.
Latest GA Huddle interview:
Gaming America spoke with Virginia McDowell , a gaming industry veteran who was a founding member of Global Gaming Women , an entity on which she still sits on the board. She is also a board member at Entain .
Product Spotlight:
Jon Hanlin of Aristocrat Gaming Gaming showed us the Lightning Dollar Link during this year’s Global Gaming Expo (G2E).