Norfolk Successfully Defends Decision as Appeals Court Rejects Casino Lawsuit
In a significant legal victory for the city, Norfolk has successfully fended off a $100 million lawsuit filed by Cordish Companies, the developer of Waterside District. The lawsuit claimed that Cordish should have had the first right to develop a casino in Norfolk and sought damages over the city’s casino plans with the Pamunkey Indian Tribe.
Norfolk’s Partnership with Pamunkey Tribe Prevails in Casino Lawsuit Appeal
The Court of Appeals of Virginia, in a 12-page ruling issued on February 27, upheld the lower court’s decision to dismiss Cord…
NOVOMATIC acquires HBG in Italy to boost international growth
NOVOMATIC Group, one of the biggest international producers and operators of gaming technologies, has acquired the majority of shares of HBG Group, one of the main concessionaires and technology providers in the Italian gaming market. The acquisition makes NOVOMATIC one of the largest concessionaires in Italy, which is among the most important gaming markets in Europe.
International expansion:
NOVOMATIC AG Group employs around 21,900 staff worldwide with locations in about 50 countries. The company exports high-tech electronic gaming equipment and solutions to about 100 countries worldwide. As a leading European gaming technology company, the Group now continues its international expansion with one of the largest transactions in its corporate histor…
National Indian Gaming Commission announces record growth for gross gaming revenue in 2021
This week, the National Indian Gaming Commission (NIGC) announced the gross gaming revenue totals for Indian gaming facilities in the United States. The details were provided during the recent Oklahoma Indian Gaming Association’s Tradeshow and Conference. The revenues jumped to a record $39 billion for the fiscal year, a 40% increase from the previous year’s totals.
Details of the Report
The annual report details were based on independent audit reports from 510 gaming establishments operated by 243 tribes in 29 states on reservation land. The revenue totals were so high, they outdid the 2019 fiscal year by 13% and 2020 by 40%.
New Legislation Proposed for Federal Oversight of Online Sports Betting
In response to the growing prevalence of online sports betting and the disparities in state regulations, US Representative Paul Tonko, alongside US Senator Richard Blumenthal, have announced plans to introduce new federal legislation that seeks to harmonize the regulatory landscape across the United States. The announcement was made on Tuesday (10 September), and the lawmakers have scheduled a press conference for Thursday (12 September) to delve into the details of the proposed bill.
Unveiling a unified approach to sports betting:
The press conference, which is set to commence at 1pm ET, promises to provide valuable insights into the forthcoming legislation. In addition to the live attendance, the event …
New Jersey Sees Historic Surge in Gambling Revenue Amidst Changing Landscape
In a month marked by unprecedented highs for New Jersey’s gambling industry, the state shattered multiple revenue records in January, signaling a robust start to 2024. However, amidst the celebration, there was a notable occurrence as traditional in-person casino earnings experienced a decline.
Internet Gambling and Sports Betting Reach Historic Highs in New Jersey
According to figures released by the New Jersey Division of Gaming Enforcement, January saw remarkable spikes across key metrics. Internet gambling revenue surged to a historic $183 million, marking a nearly 20% …
Ohio gambling industry hits new revenue record in March
March was a great month in the state of Ohio when it comes to the gambling industry. Players hit the casinos and racinos in large numbers, producing over $215 million in revenues once all winning bets were paid.
The four casinos in the state brought in over $91 million, which was an 8.7% increase from the previous record-setting amount for that month that took place way back in March 2013. The last time the casinos hit such a high amount was before racinos were allowed and they were the monopoly in the gaming industry.
Details of the Month
For the racinos, the horse tracks brought in over $124 million from its slots-only gaming. This was over 20% more than the previous record set in March 2019. What makes this amount so impressive is that the …