Monthly Archives: June 2018

Wynn Resorts names first chief sustainability officer

A newly created position at Wynn Resorts will help the company develop energy procurement goals and create a global sustainability strategy. The position, Chief Sustainability Officer, has already found its first head in Erik Hansen, who, since 2016, has served as Wynn’s Director of Procurement. Hansen will be responsible for managing a number of sustainable and renewable energy initiatives at the company as it strives to be a “leader in environmental stewardship.”

According to the casino company, Hansen began his career in the energy industry. He served more than 10 years in several positions that were centered on transmission policy and contracts, project leadership, power trading and business development. The executive joined Wynn Resorts after a stint as the VP for EnergySource, which represents some of Nevada’s largest energy customers in industries such as gaming, utilities, technology and mining. Hansen is also a current member of the Governor’s Committee on Energy Choice in Nevada.

Hansen hasn’t wasted any time forging the company’s environmental position. He is responsible for the negotiation, construction and launch of the Wynn Solar Facility, a solar initiative in Fallon, Nevada. The standalone project, which sits on 160 acres and generates 20 megawatts, already supplies more than 80% of the daytime energy to Wynn Las Vegas and Encore.

In addition to the solar project, Hansen manages the development of an energy supply chain that will provide the first micro electrical grid for a resort at the company’s Encore Boston Harbor property. He is also in charge of Wynn’s push for an open energy market.

Las Vegas Sands to increase term loan, share buyback

This past March, Las Vegas Sands (LVS) reported to the U.S. Securities and Exchange Commission (SEC) that it needed more time to repay its loans. It extended the term loans of its Marina Bay Sands casino in Singapore by about three and a half years, pushing the payoff date to March 29, 2024. Revolving loans held by the company that were expected to expire on February 28, 2020 were also pushed back, with a new maturity date of March 29, 2024. Now, the company has once again indicated a change in loans, saying that it will increase a term loan by around $1.35 billion.

LVS indicated in a statement that the increase was needed, in part, to fund a share buyback program, which is also going to be increased. The buyback program will rise from $1.56 billion to $2.5 billion, and will see its expiration date extended.

In the statement, LV CEO and chairman Sheldon Adelson said, “Our company has the financial strength to continue enhancing our industry-leading efforts to return capital to our shareholders. At the same time, we are able to maintain the flexibility needed to heavily reinvest in our current portfolio of properties and also pursue and ultimately develop new multi-billion dollar integrated resorts in key markets around the world. This is another example of our company continuing to execute on our core strategic initiatives.”

LVS owns several casinos in the U.S., as well as the casino in Singapore. The company owns The Venetian and the Palazzo on the Las Vegas Strip, as well as the Sands Casino Resort Bethlehem in Bethlehem, Pennsylvania. It is the majority owner of Sands China Ltd. based in Macau. Sands China operates a number of casino resorts around the area, including The Venetian Macao, The Plaza Macao, Sands Cotai Central, Sands Macao and The Parisian Macao.

Matt Savage ups the ante in bid for Poker Hall of Fame

Matt Savage has been around poker for more than 25 years. He has been a poker dealer, a tournament director and, on occasion, a poker player. While his talents at the felt may not be strong, his behind-the-scenes abilities are unquestionable. Now that public nominations are being accepted for the Poker Hall of Fame (PHOF), Savage is hoping to be inducted, and has turned to social media to support his cause.

Savage took to Facebook last week, posting, “Hello Facebook friends, the 2018 Poker Hall of Fame nominations are up again. I have been nominated 4 times and the last 3 years in a row as a contributor not as a player obviously. I would appreciate your nomination vote this year more than any other for a couple reasons, one because I’m turning the big 5-0 and one being personal.” Several followers posted responses to his comment. One said, “3 years and still not in?? Shoulda been a 1st ballot Hall of Famer.” Another chimed in, saying, “No one, I dare them, can name someone else in the industry that can do, or has done, what he’s doing. Must be in HOF.”

It may be surprising to many that Savage hasn’t already been selected for the PHOF. He’s come close, having been nominated four times in the past, but has never made the final cut. As the executive tour director for the WPT, the tournament director for the Bay 101 and Commerce casinos in California and a founder of the Tournament Directors Association (TDA), he certainly meets the nomination requirements.

According to the PHOF nomination criteria, non-players who “contributed to overall growth and success of the game (with indelible, positive, lasting results)” can be nominated. His accomplishments have certainly helped advance the game and some could argue that he’s done more than Edmund Hoyle who was inducted in 1979 for a rulebook he wrote 250 years earlier (the rulebook was subsequently superseded in 1864).

Betsoft Gaming extends its international reach with Romanian License

11/6/2018 – Valletta, Malta – The latest in a series of strategic European expansions, Betsoft Gaming has sought and been awarded a Class II License by the Romanian National Gambling Office.

Building on their investment in independent certification across regulated markets such as Denmark and Italy, Betsoft will now begin to reach Romanian players through existing partners. This is in addition to exploring relationships with new Romanian licensees.  Under the terms of the license, Betsoft will offer current and prospective customers its suite of online games – including key, HTML5-native titles from the Slots3TM series – alongside its comprehensive Casino Manager back office and support solution.

“We are incredibly pleased to have earned the opportunity to provide our games and platforms to such an exciting market, at the right time in its evolution,” explained Julian Camilleri, Betsoft’s Account Management Director.  “Following re-regulation in 2016, the Romanian iGaming industry has grown dramatically, spurred on by clearer guidelines and better structures for player protection.  While other providers rushed in early, we now believe the time is right for an educated player base to engage with our cutting-edge content, and for mature operators to truly benefit from our proven platforms.”

Headquartered in Malta, Betsoft has international operations and licenses in its home country, Curacao, and the rapidly-growing Italian market.  Its latest innovations, VaultTM and ShiftTM, allow the company to quickly develop and customise new cross-game and even market-specific features, and to provide marquee online slots to regions where data connectivity has traditionally been a barrier.

WSOP day 12: Bonomo does it again; wins $10k Heads Up for ninth win of the year

Another review from the World Series of Poker, this time focusing on Justin Bonomo’s incredible performance in the $10,000 Heads-Up No-Limit Hold’em Championship, his ninth victory of the year.

There are people with boils the size of potatoes, complaining about the puss with a lisp. Ghosts that sleep underneath the arches staring at tins of sardines wondering how to get at the chow without a tin opener.

And then there’s Justin Bonomo.

Poker is a game of skill and luck.

WSOP day 13: COLOSSUS numbers tumble as Felicio wins a million

Another review from the World Series of Poker, this time focusing on the dwindling numbers in the COLOSSUS and a decent showing from South America.

The World Series of Poker (WSOP) has a marketing problem. It seems writing the COLOSSUS in capital letters doesn’t provide the punch it once did. The introduction of the $1m first prize has done nothing to add to the glitz and glamour of the event.

Word of mouth marketing isn’t working.

The people are no longer coming.

Switzerland votes to block int’l online gambling operators

Switzerland has voted overwhelmingly in favor of (a) allowing local casinos to offer online gambling and (b) blocking the domains of these casinos’ internationally licensed online competitors.

On Sunday, nearly three-quarters (72.9%) of Swiss voters cast their vote in favor of their country’s new gambling law, which was approved last fall but was immediately challenged by the student wing of the Free Democratic Party, who successfully gathered enough petition signatures to force a referendum under Swiss law.

The gambling law, which will now take effect at the start of 2019, grants land-based casinos the right to expand their operations online, while local internet service providers will be required to block the domains of any gambling site that doesn’t secure a partnership with a local casino.

Advance polling had shown that the ‘No’ side was winning the argument with younger voters, who feared establishing a precedent that would allow the government to block other domains it found objectionable.

WSOP 2018 Millionaire Maker — with Guaranteed $1 Million Top Prize — Draws Hall of Famer and Kitchen Utensil Entrepreneur

Saturday’s $1,500 buy-in Millionaire Maker kickoff at the 2018 World Series of Poker saw familiar poker pros and colorful characters from the entrepreneurial world mingling to vie for the guaranteed […]

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