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Borgata Hotel Casino & Spa Announces Construction Of New Sports Book

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Borgata Hotel Casino & Spa Wins 'Property Of The Year' Honors At 2018 Global Gaming ExpoReading Time: 2 minutes

 

Atlantic City’s market-leading resort will invest over $11 million into the addition of a new bar and sports wagering experience

Borgata Hotel Casino & Spa announced today it will begin construction of a new venue that will integrate an entertaining bar experience with sports wagering. Adding more than $11 million in development to Borgata’s resort, the destination bar will make its anticipated debut this summer.

“Since Borgata arrived in the Atlantic City market more than 15 years ago, we have maintained a steadfast dedication to property growth and development, with our new concept exemplifying this objective,” said Marcus Glover, President & Chief Operating Officer for Borgata Hotel Casino & Spa. “We are proud to have been at the forefront of legalized sports betting in New Jersey and look forward to advancing our product with an innovative gaming and entertainment experience for our guests to enjoy.”

Borgata made history last June when it became the first Atlantic City casino to accept a legal sports wager under new sports betting regulations in New Jersey. The historic wager came just three days after NJ Governor Phil Murphy signed a bill passed unanimously by the State Legislature, creating a regulated environment where licensed casinos may establish legal sports books.

Since accepting that first inaugural bet, Borgata launched the playMGM NJ Sports mobile sports-betting app in New Jersey. In partnership with GVC Holdings, the playMGM NJ Sports app features a full range of U.S. and selected international sports with customers able to sign-up, deposit and withdraw cash directly from their mobile devices from any location in New Jersey.

As a part of MGM Resorts International, Borgata brings the wealth of that company’s sports book experience to its operation. MGM Resorts International possesses more than 25 years of sports wagering operations experience in Nevada, where the company’s resorts combine to write more than 4 million sports wagers each year with annual handle in excess of $1 billion. Strategic relationships like those announced with the NBA and WNBANHLMLB, as well as the New York Jets, firmly establish MGM Resorts and playMGM as the market leader in partnerships with major professional sports leagues.

ABOUT BORGATA HOTEL CASINO & SPA:
Located in Atlantic City’s Marina District, Borgata Hotel Casino & Spa features 2,000 guest rooms and suites; 106,000 square feet of event space; 161,000 square feet of gaming; 189 table games; 2,994 slot machines; a 75+ table poker room; a race and sports book; 11 retail boutiques; 5 acclaimed fine dining restaurants by renowned chefs; 10 casual dining options; a 54,000 square foot spa; 88,000 square feet of event space; 20,000 square foot indoor/outdoor pool and garden; 32,000 square foot outdoor pool; 4 signature nightlife experiences; and parking for 7,100 cars. The market-leading resort also features Atlantic City’s first cosmopolitan hotel experience, The Water Club at Borgata, with 800 guest rooms and suites; a 36,000 square foot spa; 18,000 square feet of meeting space; 6 designer retail boutiques; and 5 heated indoor and outdoor pools. Borgata offers online gaming within the state of New Jersey through its real-money gaming sites, www.BorgataCasino.com and www.BorgataPoker.com. Borgata is an indirect wholly owned subsidiary of MGM Resorts International (NYSE: MGM). For more information about Borgata, please visit www.theborgata.com.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Borgata Hotel Casino & Spa Announces Construction Of New Sports Book

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Intralot and Intracom deny news of merger

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Greek gambling company Intralot and local IT holding firm Intracom have both denied news about their potential merger. In their separate statements, which curiously looked identical, both companies stressed that the news did not “correspond to reality.”

There had been rumours that a mega-merger of Intralot and Intracom was on the cards. The rumours emerged after Intralot suffered a drop of the nominal value of its bond and a downgrading of its credit rating at the start of the year.

The rumour gained ground because Intralot and Intracom have the same founder and majority shareholder – Greek business mogul Sokratis Kokkalis. Mr. Kokkalis stepped in as the new CEO of the gambling company early this month, replacing Antonios Kerastaris. The now former Chief Executive of the Greek gaming, betting, and lottery group departed after Intralot lost its bid to continue providing sports betting technology to Turkey’s state-owned operator Iddaa.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Intralot and Intracom deny news of merger

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PAGCOR Press Statement on Quezon City’s insistence to impose casino entry fees

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PAGCOR Press Statement on Quezon City's insistence to impose casino entry feesReading Time: 2 minutes

 

As Quezon City Vice Mayor Joy Belmonte continues to insist on the imposition of entrance fees to Quezon City residents who wish to play in casinos and other gambling facility in the area, the Philippine Amusement and Gaming Corporation (PAGCOR) underscores several cases and provisions that cite the supremacy of national government over local government units.

First, in “Basco vs. PAGCOR (1991)”, wherein the City of Manila filed a case seeking to annul the PAGCOR charter, the court ruled that Presidential Decree (P.D.) 1869 waived the right of the city to impose taxes and fees. The court decision cited that the power of the local government to impose taxes and fees “is always subject to limitations which Congress may provide by law.”

It furthered that P.D. 1869 remains an operative law, until amended or repealed.

Another case, “City of Cagayan de Oro vs. Pryce and PAGCOR (1994)”, cited that ordinances should not contravene a statute that is obvious. It stated that “municipal governments are only agents of the national government; and local councils exercise only delegated legislative powers from Congress as the national law-making body.” Hence, local government units cannot be superior to Congress from which they derive their powers.

The third case, “Herbert Bautista vs. PAGCOR (2016)”, cited that under its Charter, PAGCOR and its agents are exempted from paying local taxes as P.D. 1869 Section 13 provides that “no tax of any kind or form, income or otherwise, as well as fees, charges or levies of whatever nature, whether national or local, shall be assessed and collected under this Franchise from the Corporation nor shall any form of tax or charge attach in any way to the earnings of the Corporation, except a franchise tax of five percent of the gross revenue or earnings derived by the Corporation from its operation under this franchise.”

The entry fees on the city residents who will enter the casino which the Quezon City local government is contemplating on imposing, takes the form of “tax” because of its nature to generate revenues.

However, if the purpose of the imposition of entry fees is to discourage citizens to frequent gaming facilities, such practice is an obvious exercise of police power, and in fact, an encroachment on the function of a national regulatory entity.

PAGCOR, having been granted by Congress with the power to regulate gambling, has the authority to determine the rules and regulations that may deem fit in the regulation of the gaming industry.

If PAGCOR does not find it necessary to impose entrance fees to its clients, then Quezon City’s local government cannot supersede this even if it claims that the imposition of entry fees is only applicable to their constituents.

Besides, if the local government of Quezon City believes that doing such is tantamount only to “safeguarding the welfare of their people”, why did it grant so many Letters of No Objection (LONOs) and Resolutions of No Objection (RONOs) to bingo and other electronic gaming sites in Quezon City?

As of February 28, 2019, there are 97 electronic gaming sites in Quezon City. Of this number, 63 are bingo sites and 34 are eGames gaming sites. This figure does not include the LONO and RONO granted by Quezon City government to Solaire Resort and Casino.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: PAGCOR Press Statement on Quezon City’s insistence to impose casino entry fees

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Blackstone to acquire Ukrainian gaming development company

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The Blackstone Group LP, a US-based investment and asset management company, is all set to acquire Murka Ltd and Murka Entertainment Ltd, an Unranian company that develops unique social and mobile games. The Blackstone Group has already informed Cypriot Commission for the Protection of Competition about the plan.

Murka, established in 2011, is known for its social-casino games like Slots Journey, Slots Journey 2, TX Poker, S & H Casino, Vegas Slots, Royal Fortune Slots, Bubbla Cadabra and Scatter Slots.

These games, where real money cannot be won, exist as mobile apps and on Facebook. Publisher of social casino games earns money via selling in-game content and/or advertising. According to various data, the global social casino market in 2018 brought publishers from $ 3.2 billion in total to $ 3.46 billion on mobile platforms.

Currently, over 100 people work in the Kiev, Dnipro and Lviv offices of Murka. The company has not commented the conditions of the upcoming transaction yet.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Blackstone to acquire Ukrainian gaming development company

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