Massive Pennsylvania Gambling Expansion Bill Passed by State House, Not Without Debate

Massive Pennsylvania Gambling Expansion Bill Passed by State House, Not Without Debate

Pennsylvania gambling expansion has become a focal point in Harrisburg for greater than a year, but late Wednesday night, the state’s House of Representatives finally took action on the matter. The manner in which they did so, however, is being criticized by some lawmakers.

A Pennsylvania that is 675-page gambling bill took simply hours to create its way through the House of Representatives, causing some legislators to bristle at its speedy passage.

Yesterday morning, House Bill 271 was introduced by State Rep. Jason Ortitay (Allegheny County) and co-sponsored by six other Republicans and one Democrat.

The measure seeks to expand gambling in greatly the Keystone State. HB 271 would place slot machines in airports and bars, authorize online casinos and day-to-day fantasy sports (DFS), allow the lottery to offer internet instant tickets, and create sports wagering regulations in anticipation of any change to the existing ban that is federal.

The all-encompassing piece of legislation would leave no already legal gambling option unaddressed, as far as where it can happen at almost 700 pages. It’s no read that is easy but just hours after its introduction, Republican House bulk leaders ushered it in for the vote.

In the final end, it passed narrowly, by a count of 102-89, with support mixed across party lines.

‘ in the event that you’ve all had the opportunity to read it, I do not know how you Continue reading “Massive Pennsylvania Gambling Expansion Bill Passed by State House, Not Without Debate”

Difficult SLS Las Vegas, Former Sahara, Sold to Reno Resort Owner

Difficult SLS Las Vegas, Former Sahara, Sold to Reno Resort Owner

SLS Las Vegas was sending out SOS signals from the time it underwent a $415 million renovation less than 3 years ago. The previous famed Sahara Hotel and Casino was turned in to a sleek and modern resort that’s abbreviated moniker stood for ‘Style, deluxe, Service.’

The happy blob statue might be only a little sad after learning SLS Las Vegas has been offered.

It didn’t work. This week, the Meruelo Group, a California-based holdings company that owns the Grand Sierra Resort and Casino in Reno, announced it had been acquiring SLS Las Vegas for a price that is undisclosed Stockbridge Capital Partners.

‘ This will be a when in a lifetime possibility to acquire a premier gaming property on the world famous Las Vegas Strip,’ Meruelo Group Chairman Alex Meruelo said in a statement.

The privately held Meruelo Group portfolio includes banking and financial services, hotels, food establishments, and a Spanish-language television station in Los Angeles in addition to its Reno casino and future stake in Las Vegas.

Storied History Disrupted

SLS was envisioned by Sam Nazarian, whose dad made the family’s fortune from being an investor that is early Qualcomm.

Though Nazarian’s business, SBE Group, had no expertise in purchasing or operating a major resort, it bought the Sahara in 2007, along with Stockbridge, for somewhere between $300 and $400 million.

Roughly five years later, the resort that hosted Rat Packers in its ea Continue reading “Difficult SLS Las Vegas, Former Sahara, Sold to Reno Resort Owner”

Amaya to Change Name to ‘The Stars Group’ and go on to Toronto, Eventually

Amaya to Change Name to ‘The Stars Group’ and go on to Toronto, Eventually

PokerStars’ moms and dad business Amaya has announced it promises to just take the name of its most child that is valuable. The online gaming company that’s home to the entire world’s poker site that is largest will call itself ‘The Stars Group Inc.’

Amaya will be going to Toronto and changing its name, marking a brand new era in the company’s history, one with distance from its beleaguered founder and former chairman and CEO David Baazov.

The move seeks to capitalize on the brand recognition of its most famous asset, and, perhaps, distance itself from bad press surrounding previous chairman and CEO David Baazov, that is embroiled in legal troubles.

Information for the impending name-change was announced as Amaya delivered its Q1 report that is financial. It also revealed that the ongoing company would be relocating from Montreal to Toronto, a move that will let it ‘more efficiently manage its business affairs.’

Rising Tides

The business reported strong results in Q1, with general revenue up 10 % regarding the period that is corresponding year, to $317.3 million. On line poker now is the reason just 69 % associated with organization’s revenue, as opposed to 75 percent a year ago.

This shift reflected the company’s growing diversification, through its online casino operations and BetStars sports platform that is betting more so than weakness in the poker market.

‘We continued our momentum within the q Continue reading “Amaya to Change Name to ‘The Stars Group’ and go on to Toronto, Eventually”

Amaya to Change Name to ‘The Stars Group’ and Move to Toronto, fundamentally

Amaya to Change Name to ‘The Stars Group’ and Move to Toronto, fundamentally

PokerStars’ parent company Amaya has announced it intends to take the name of its most child that is valuable. The online gaming company that is home to the world’s biggest poker site will call itself ‘The Stars Group Inc.’

Amaya are going to Toronto and changing its name, marking a new era in the organization’s history, one with distance from the beleaguered founder and former chairman and CEO David Baazov.

The move seeks to capitalize on the brand recognition of its most famous asset, and, perhaps, distance itself from bad press surrounding previous chairman and CEO David Baazov, who’s embroiled in legal troubles.

News regarding the impending name-change was announced as Amaya delivered its Q1 financial report. It also unveiled that the ongoing business would be relocating from Montreal to Toronto, a move that will let it ‘more efficiently manage its business affairs.’

Rising Tides

The business reported strong results in Q1, with general revenue up 10 % in the period that is corresponding year, to $317.3 million. On line poker now accounts for just 69 percent of the organization’s revenue, in place of 75 percent an ago year.

This shift reflected the company’s growing diversification, through its online casino operations and BetStars sports platform that is betting more so than weakness in the poker market.

‘We continued our momentum in the very first quarter as we execute on our strategy and rei Continue reading “Amaya to Change Name to ‘The Stars Group’ and Move to Toronto, fundamentally”