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UNITE HERE Warns About Potential Gaming Tax Revenue Declines, Job Cuts, and Other Problems of Proposed Merger of Eldorado Resorts and Caesars Entertainment

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Unite_Here_logo UNITE HERE Warns About Potential Gaming Tax Revenue Declines, Job Cuts, and Other Problems of Proposed Merger of Eldorado Resorts and Caesars EntertainmentReading Time: 2 minutes

 

Eldorado Resorts and Caesars Entertainment jointly announced a proposed transaction to combine the two corporations, pending shareholder and regulatory approvals. The deal is to be based on $7.2 billion of new debt financing and $500 million of cuts and other “synergies.” UNITE HERE, the hospitality workers union, represents approximately 25,000 workers at Caesars and Eldorado properties.

UNITE HERE-represented union casinos accounted for approximately 68% of the pro forma $30 billion combined Caesars-Eldorado EBITDAR in 2018. These 22 UNITE HERE union casinos altogether include over 50% of the combined company’s total hotel rooms, over 30% of its total slots, and nearly 40% of its total table games. UNITE HERE locals are currently in contract negotiations with Eldorado at Circus Circus Reno and Isle Pompano Beach. Contracts at six additional UNITE HERE union casinos in the combined Caesars and Eldorado portfolio will expire in 2020, including four properties in Atlantic City.

UNITE HERE issued the following statement from President D. Taylor:

“UNITE HERE has had a positive relationship with Caesars Entertainment over the years, and 25,000 union members have been excited to help the company reinvest and rebuild as it recovers from the disastrous leveraged buyout led by Apollo and TPG. It is in this context that we approach the proposed sale of the company with great concern.

Yesterday, Eldorado announced cost-savings of $500 million in the first year of the combined company. Where are they going to cut? We will not stand by idly if the proposed Caesars-Eldorado transaction will lead to significant job losses, worse wages and benefits for our members, and lower state gaming tax receipts in the many communities where members we represent work and live. Casinos operating under privileged licenses are meant to create significant benefits for host communities, including family-sustaining jobs and local government funding based on gaming taxes.

We will support changes at Caesars that preserve the company’s long-term financial health and provide a sustainable path to good jobs in vibrant gaming markets across the country.”

2018, 7,700 UNITE HERE members went on a multi-city strike at Marriott hotels across the United States and won historic settlements in Boston, Detroit, San Francisco, San Jose, Oakland, San Diego, and Hawaii.

UNITE HERE represents over 300,000 hospitality workers in gaming, hotel, and food service industries in North America and provides analysis from the perspective of those who work in these industries.

 

Source: UNITE HERE


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: UNITE HERE Warns About Potential Gaming Tax Revenue Declines, Job Cuts, and Other Problems of Proposed Merger of Eldorado Resorts and Caesars Entertainment

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Vermantia and Kiron launch premium virtual racing with real greyhound content

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vermantia-BOS-1 Vermantia and Kiron launch premium virtual racing with real greyhound content

 

New offering combines the best of live greyhound footage with the ease of virtual gaming

Vermantia, a leader in omni-channel content solutions, and Kiron Interactive, the leading provider of virtual games, have joined forces to deliver the next generation of virtual racing using real greyhound racing content.

Combining Vermantia’s fully licensed pre-recorded greyhound races from premium greyhound tracks with Kiron’s advanced virtual games engine and technology, the new product offers an ever-expanding and constantly updated library of races, the first of its kind in the industry.

Designed with the player experience in mind, the game is based on a selection of hand-picked greyhound races from multiple, active UK racetracks, according to strict quality criteria. Alongside the exciting real racing, professional live commentary is provided in any language, while the game engine is adaptable to any regulatory framework.

The new virtual racing product harnesses unlimited real greyhound racing action alongside the ease of virtual games, utilising advanced mathematics, industry-leading algorithms and realistic odds, as well as customisable payouts and an adaptable frequency of races.

Commenting on the collaboration, Yiannis Gangas, CPO of Vermantia, said: “By joining forces with Kiron, an industry leader in its domain, we are glad to be extending the reach of our exclusive racing content to the virtual gaming markets and also introducing more players to the thrill of real racing action.”

Steven Spartinos, co-CEO of Kiron, said: “Through our collaboration with Vermantia, our long- standing partner, we found both the premium racing content and the delivery technologies to meet customer demand for a premium pre-recorded racing product. Its launch is the result of extensive research and co-development between both businesses, and we are working actively on rolling it out to our client base internationally.”

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New games upcoming for Planetwin365 users thanks to the partnership SKS365-WorldMatch

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planetwin365-tournament New games upcoming for Planetwin365 users thanks to the partnership SKS365-WorldMatch

 

SKS365 organizes a special tournament with a €20,000 prize pool to celebrate the new entry

The number of partners at SKS365 continues to grow, thanks to the entry of WorldMatch, one of the best providers in the virtual gaming offering, specialized in the supply of last generation online slots.

The agreement provides, in fact, the arrival of 79 slots in HTML5, available for desktop and mobile, which will complement the Planetwin365 offer. This first launch of 22 new online slot will be followed by the release of numerous other content that will quadruple the schedule of WorldMatch titles by the end of the year.

The arrival of such a talented provider, as evidenced by the recognition at the SEG Awards as the best online slot provider 2019, rewards the work that we constantly bring forward with commitment to be not only synonymous with varied and reliable entertainment in the eyes of our users, but also a credible and attractive partner in the eyes of companies that compete at the highest level in the market for the supply of online gaming contentTroy Cox Chief Commercial Officer SKS365 said – This is why we are proud to have an outstanding player on board as WorldMatch, which we are sure will become one of the milestone for Planetwin365 users.

Among the main contents of the new enriched Planetwin365 menu, users will find some of the products that distinguish the WorldMatch brand such as Book of Pharaon, Banana King, Fruits Evolution, and the “bar slot” games such as Night Vampire, Atlantis and Secret of Sphinx.

We are very pleased to announce this partnership with SKS365 – said Andrea Boratto, CEO of WorldMatch – This agreement with a so prestigious operator, that pays attention to risks prevention, makes us proud to be involved in common growth objectives. Our games include both original WorldMatch titles and conversions of titles from the land based market and developed in partnership with the leading Italian producers such as Octavian, BaldazziStyl Art, Magic Dreams, etc. This union makes the WorldMatch offer unique, complete and able to satisfy Planetwin365 customers”.

To celebrate this new partnership, Planetwin365 has decided to launch a special tournament that doubles the points earned playing WorldMatch products, rewarding 200users, giving away a total prize pool of €20,000. The tournament will start on Wednesday November 13th and will end on Sunday November 17th.

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EvenBet completes full house with senior strategic appointment

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EvenbetGaming_CryptoPoker EvenBet completes full house with senior strategic appointment

 

EvenBet Gaming, the leading poker platform provider, has appointed industry veteran Luigi Spina to the new role of Head of Business Development, as they look to extend their presence and influence across the sector.

Spina, who is now based at the firm’s offices in Malta, arrives at EvenBet, having taken the developmental reins as both Commercial Director and Poker Director in a similar senior domain across previous positions. In his former roles, he diligently built brand reputation in global gaming markets, with a keen eye for strategy and sales throughout international digital jurisdictions.

Now Spina brings those skills to bear at one of the gaming industry’s pre-eminent poker platform providers. He will be responsible for managing EvenBet’s existing partners, spearheading the expansion of EvenBet’s dedicated software skill-set into worldwide territories. After an eight-year stint specialising in online gaming across LatAm, Spina will bid to realise the company’s growth in the most promising poker markets, including the overlapping regions of Latin and South America.

Spina said: “I’ve always based my business relationships on the ability to add value. Working with EvenBet, a company founded on my poker passions, I’ve not only found a string of products that complement different aspects of the business, but also a strong, experienced team that are client-focused and eager to tailor their offering to make it work for the customer.

“The team at EvenBet have solid relationships across the sector, fostered after years of successful commercial development alongside loyal partnership-building in the igaming space. They’re trusted and respected. I can’t be part of a better story than that.”

Dmitry Starostenkov, CEO at EvenBet Gaming, said: “We’re thrilled Luigi is joining the EvenBet team. His 20 years of experience and contacts in sales and business development are exceptional. We feel sure he’ll be a true asset to both EvenBet and all our clients, as we bid to broaden our global footprint.”

EvenBet delegates, led by Starostenkov and Spina, will be on site at this month’s SiGMA summit in Malta, where EvenBet is reframing the future for poker’s comeback vertical with a varied offering of games, digital content and social components.

Spina added: “We can’t wait to return to Malta and show how our poker offering can boost engagement and revenues for casino and sportsbook operators. It all begins with SiGMA’s annual poker tournament, which provides the traditional curtain-raiser to proceedings. Dmitry and I hope to see you there.

“With so much core technological evolution already behind us, we now look forward to growing in accordance with those advances. SiGMA provides us with the perfect opportunity to catch up with existing partners and meet new clients with whom we can broaden our mutual horizons. You can come and find us at stand ST15.”

Leveraging his LatAm expertise for EvenBet’s top-class platform, Spina will also be on site at next week’s SAGSE summit (20 – 22 November) in Buenos Aires. To book a meeting with EvenBet at either conference, please email: sales@evenbetgaming.com, or call +356 99 656 474.

EvenBet has launched nearly 100 poker rooms over the past 10 years, offering 28 different game types to approximately five million active players. The company continues to place a responsive and reliable poker solution at the heart of its progressive omnichannel portfolio.

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