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MGM Growth buys Hard Rock Rocksino
MGM Growth Properties has acquired of Cleveland’s Hard Rock Rocksino Northfield in a $1.06 billion deal.
As part of the deal, MGM Growth will inherit a 200,000-square foot casino with 2200 video lottery slot machines, along with the Northfield Park harness racetrack, from previous owner Milstein Entertainment. The REIT, an MGM Resorts spin-off, is also in the process of finalizing the acquisition of the famous Yonkers Raceway and its accompanying Empire City Casino.
MGM Growth was formed in 2016 and launched and its IPO on the New York Stock Exchange shortly afterward, raising $1.2 billion. It is 70 per cent owned by MGM Resorts International.
A real-estate investment trust (REIT) is essentially an investment vehicle formed to acquire and own properties, offering investors both large and small the chance to own shares of high-value commercial real estate.
REITs receive special tax considerations and can trade at higher stock market prices, potentially offering investors high returns.
On its formation, MGM Growth took over ten MGM Resort properties, including Mandalay Bay, The Mirage, New York-New York, Luxor, and Excalibur, which it leases back to MGM Resorts to operate.
The Hard Rock Rocksino Northfield Park will be rented to its majority owner for $50 to $60 million a year, the company has said.
The REIT model makes sense for large casino operators managing dozens of properties as a means to raise funds which can then be spent on further acquisitions.
Penn National started the ball rolling in 2013, and has since been joined by MGM and Caesars Entertainment, which created VICI Properties last year, as a way of easing its passage out of Chapter 11 bankruptcy.
MGM Growth CEO James Stewart said in an official statement on Friday he was “excited” about the first official addition to the REIT’s portfolio, which he added would bring “further geographic diversification” to the MGM brand.
“[A REIT] improves the balance sheet of MGM Resorts, it provides another growth vehicle for the company and it will…provide a different investment opportunity, as [Growth Properties] goes out and can acquire assets,” MGM Resorts CEO Jim Murren further explained about the spin-off.
Known as the “The Home of the Flying Turns” and for its motto “Every nineteen minutes the place goes crazy,” Northfield Park is the venue for the Battle for Lake Eerie, which has grown from its 1980s inception to become one of the premier events on the Free-For-All pacing calendar.
It also operates Cedar Downs, the only off-track betting parlour in Ohio.
Source: casino.org
Source: Latest News on European Gaming Media Network

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1 Reddit Post = 1,120 FTDs — No Site, No Backlinks!
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The post 1 Reddit Post = 1,120 FTDs — No Site, No Backlinks! appeared first on European Gaming Industry News.
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DeepDive launches AI platform to strengthen Enhanced Due Diligence for gaming operators’ anti-money laundering efforts
DeepDive today announced the launch of a revolutionary AI platform for Anti-Money Laundering (AML) compliance teams that conduct Enhanced Due Diligence (EDD) and player investigations.
AML teams at gaming operators face an impossible trade-off, they can either conduct thorough investigations that take days, or fast investigations that may miss critical intelligence. On top of that they have to be able to assess source of funds on customers all over the world. DeepDive combines multi-language web search and global regulatory compliance data checks to extend the reach of EDD. Compliance teams can now sift through the digital ocean of open-source data including public records, corporate filings, court documents, news archives, social media profiles and PEP, sanctions and watchlist data to build customer intelligence.
Using a unique combination of search tools, natural language processing, entity resolution and generative AI, DeepDive enables EDD research to go further and deeper, accessing more sources, in any language or alphabet. Instead of analysts spending hours clicking through search results and manually cross-referencing information, DeepDive’s AI processes hundreds of sources simultaneously and presents EDD reports viewable by timeline, alert type or risk category. Analysts can then interrogate the body of knowledge with the built-in chatbot to get to the heart of the matter, helping them make more informed risk decisions.
The team behind DeepDive is staffed by industry veterans that have previously launched, scaled and exited several fraud investigation and KYC platforms.
“DeepDive addresses the pain points facing compliance teams such as time-intensive manual research, incomplete data, language barriers, false positives, and the challenge of processing vast amounts of information at scale,” said David Pope, COO at DeepDive.
“We’ve now completed a successful six-month beta with MLROs and outsourced EDD providers. DeepDive has helped them build deeper intelligence on high-risk customers from all over the world, in a fraction of the time. Not only are we uncovering intelligence that the manual EDD approach misses, but with the time saved, gaming operators can extend EDD across a wider set of customer transactions.”
DeepDive strengthens EDD by creating multiple search permutations across publicly available data and targeted compliance databases in relevant languages and local search engines. After creating the most exhaustive possible dataset for analysis, entity resolution refines the data pool to remove false positives. Multiple generative AI tools are then used to build a structured intelligence report with full citations to original sources and an audit trail.
The DeepDive report covers personal background, legal issues, financial integrity, compliance history, and key relationships, revealing financial insight, known associates, locations, company linkages, political connections, and criminal activity—all structured for immediate analysis.
The post DeepDive launches AI platform to strengthen Enhanced Due Diligence for gaming operators’ anti-money laundering efforts appeared first on European Gaming Industry News.
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iRace Media extends partnership with The Hong Kong Jockey Club in Asia
iRace Media has announced the renewal of its long-standing partnership with The Hong Kong Jockey Club (HKJC) ahead of the new season commencing on 7 September.
The partnership will ensure racing fans can continue to experience uninterrupted access to high-quality Hong Kong racing content across Singapore, Malaysia and the wider Asia region. iRace readers and customers will have access to expert guides, results, tips and trusted analysis from one of the world’s premier racing jurisdictions.
Scott Bailey, Commercial Manager, iRace Media says:
“Hong Kong is a benchmark for racing globally; it’s fast, competitive and deeply followed throughout Asia. iRace has collaborated with the Hong Kong Jockey Club for many years now to deliver a trusted experience for racing enthusiasts, and we are thrilled to build on the accuracy, depth and speed that fans have come to expect.”
iRace Media’s extended partnership with the HKJC will explore new ways to enhance the racing experience through its digital platforms, offering real-time insights and driving fan engagement across the Asia region.
Get set for the new season by visiting the iRace website and register for free to access trusted editorial and data-driven racing coverage.
The post iRace Media extends partnership with The Hong Kong Jockey Club in Asia appeared first on European Gaming Industry News.
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