With pandemic fears pulling back, casinos are wagering on a massive comeback. So far, it appears the industry is off to a good start, with U.S. commercial gaming revenue topping $11 billion in the first quarter of 2021, according to the American Gaming Association (AGA). “The revenue total marks a 4.1 percent increase over the industry’s pre-pandemic performance in Q1 2019 and is a 17.7 percent increase over Q1 2020, when the entire gaming industry shut down in March,” they added. That’s great news for companies like Jackpot Digital Inc. (TSXV:JJ) (OTCQB:JPOTF), Penn National Gaming (NASDAQ:PENN), Wynn Resorts (NASDAQ:WYNN), MGM Resorts International (NYSE:MGM), and Scientific Games Corp. (NASDAQ:SGMS).
“The first quarter of 2021 clearly shows that consumer interest in gaming never waned, despite the challenges of 2020,” added AGA President and CEO Bill Miller, as also quoted by the AGA. “This momentum is a direct result of our industry’s ability to provide safe environments for our employees and guests to return to and is a strong indicator that our recovery is on the horizon.”
Jackpot Digital Inc. (TSXV:JJ)(OTCQB:JPOTF) Exploring Opportunities in Texas
Jackpot Digital Inc. is a leading electronic table games manufacturer and mobile gaming provider for the cruise ship industry and regulated casino industry. It also specializes in multiplayer gaming products, including poker and casino games, which are complemented by a suite of backend tools for operators to efficiently control and optimize their gaming business.
Most recently, the company announced the Company has engaged counsel to pursue business opportunities in the State of Texas, including the possibility of operating card rooms in addition to the Company’s current business of licensing tables to third parties.
Beginning in 2015, the Texas poker market opened in the form of membership-based card rooms. The market has since grown to 38 cards rooms and over 500 poker tables are currently in operation (source: https://www.pokeratlas.com/poker-rooms/texas), with membership poker clubs in existence throughout the State of Texas, USA.
As a prospective card room operator, the Company’s Jackpot Blitz electronic table game provides a clear competitive advantage due to its innovative, positive disruptor, dealer-less technology. Jackpot’s poker clubs will have the ability to offer non-stop poker tournaments with no dealer costs and faster, error-free gameplay, in comparison to the competition.
President & CEO Mr. Jake Kalpakian stated, “With casinos and card rooms now re-opening, Jackpot will be able to pursue opportunities that have been in our pipeline for over a year, such as Texas and other similar markets abroad.”
“Our dealer-less poker tables do not simply replicate the player experience, they enhance it. A better player experience combined with zero dealer costs means we have a distinct competitive advantage as we enter new markets,” Kalpakian added.
Other related developments from around the markets include:
Penn National Gaming announced that it has received final approval from the Maryland Lottery and Gaming Control Commission to acquire the operations of Hollywood Casino Perryville. Penn National entered into a definitive agreement with Gaming and Leisure Properties, Inc. in December 2020 to acquire the operations of Hollywood Casino Perryville for $31.1 million in cash, subject to certain customary working capital adjustments. Simultaneous with the closing of the transaction, Penn National will enter into a lease with GLPI for the real estate assets associated with the Hollywood Casino Perryville facility with annual rent of approximately $7.77 million.
Wynn Resorts reported financial results for the quarter ended March 31, 2021. Operating revenues were $725.8 million for the first quarter of 2021, a decrease of 23.9%, or $227.9 million, from $953.7 million for the first quarter of 2020. Net loss attributable to Wynn Resorts, Limited was $281.0 million, or $2.53 per diluted share, for the first quarter of 2021, compared to net loss attributable to Wynn Resorts, Limited of $402.0 million, or $3.77per diluted share, in the first quarter of 2020. Adjusted Property EBITDA (1) at our integrated resort properties increased $17.2 million, $50.2 million, and $43.0 million at Wynn Palace, our Las Vegas Operations, and Encore Boston Harbor, respectively, and decreased $2.7 million at Wynn Macau, when compared with the first quarter of 2020.
MGM Resorts International and Entain PLC’s BetMGM, a Glassdoor-recognized Top Place to Work, is pleased to announce that its Chief Executive Officer, Adam Greenblatt, has been named one of the Top CEOs in 2021 in the U.S. Small and Medium Business (SMB) category on Glassdoor. Glassdoor released its annual award recognizing today highlighting top leaders that employees love working for in countries throughout North America and parts of Europe. "From the company's inception, we clearly defined the culture we wanted to create, rooted strongly in our core values of transparency, empathy and agility, so to receive this recognition and generous feedback from BetMGM employees is extremely meaningful," said BetMGM CEO Adam Greenblatt. "I look forward to further strengthening our company culture as we continue to support the needs of our growing, talented and ambitious team."
Scientific Games Corp. announced that Bremer Toto-Lotto GmbH, the state lottery in Bremen, Germany is modernizing the retail experience with a move to high-performance WAVE retailer terminals. As part of a new contract with Bremer Toto-Lotto, Scientific Games will provide the new, advanced WAVE terminals along with the Company’s new SYMPHONY EDGE terminal software, cloud-based SYMPHONY terminal management system, and software maintenance. Michael Barth, Managing Director for Bremer Toto-Lotto GmbH, said, “Moving to more advanced lottery terminals across our network brings us yet another step closer to modernizing the lottery experience with Scientific Games, our trusted, longtime technology provider. We are confident that this is a very positive move that will be well-received by our retailers.”
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Jackpot Digital Inc. by Jackpot Digital Inc. We own ZERO shares of Jackpot Digital Inc. Please click here for full disclaimer.
Contact Information:
2818047972
[email protected]
