Several casino operators in the past few years have jumped on the real estate investment trust train, selling their properties and leasing them back. "That gave them a liability they never had before: rent," Christopher Palmeri writes.
Hotels are finding novel ways to join the fight against coronavirus, such as Alaska's Hotel Captain Cook donating rollaway beds and toiletries to the nearby Covenant House Alaska shelter for homeless youths. Several other hotels around the country that had shuttered to regular guests have opened their doors to health care workers and noncritical hospital patients.
Macao's casino revenue plunged 80% year over year in March with just $664 million, about five times less than March 2019's numbers. Analysts had expected a dive of 70% given that the casinos reopened in mid-February after a two-week coronavirus-related closure.
Las Vegas Sands owner Sheldon Adelson has donated 2 million face masks and 20,000 protective suits to US hospitals battling the coronavirus, while Encore Boston Harbor has provided masks and toilet paper. Detroit's Greektown Casino is letting first responders stay in the hotel for free.
Police in Hong Kong have arrested 29 suspects in connection with a racket that used arcade machines for betting games, taking in more than $1.8 million over six months. The syndicate's command center was in Mong Kok.
In light of some affiliate companies using the coronavirus outbreak to increase search results, Gaming Innovation Group is offering online gaming operators free searches to suss out such exploitative behavior. "Our technology can scan and analyze thousands of web pages within a short space of time," GiG's James King says.
Hard Rock International has expanded into social casinos via a partnership with KamaGames with "Hard Rock Blackjack," which provides various table games. "We're also expanding the ability for Hard Rock to reach new guests to introduce a vast portfolio of real-world experiences," Kresimir Spajic of Hard Rock says.
Osaka, Japan, has pushed back its timeline for an integrated resort from mid-2025, but MGM Resorts and partner Orix, a Japanese financial services company, still intend to bid on the project. Global Market Advisors believes a resort will be active by 2026.
Unexpected sports betting offerings such as table tennis from Russia are being joined by virtual tennis. The ATP Tour and IMG Arena are working on a licensed product with 3D motion technology to join IMG's existing golf, motorsports, greyhound racing and other sports.
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