Tag Archive : Golden

Golden Nugget Owner Lays Off 40,000 Workers amid Covid-19 Crisis

Billionaire businessman Tilman Fertitta has furloughed around 40,000 workers at his chains of casinos and restaurants in the wake of widespread temporary closures of non-essential businesses across the US in response to the global Covid-19 crisis.

Mr. Fertitta’s business assets include the Golden Nugget chain of casinos and hundreds of dining outlets operating under the Landry’s Inc. umbrella. The businessman said that he had to temporarily lay off staff to reduce the financial impact of government-invoked measures aiming to arrest the spread of the dangerous coronavirus.

The Texas-born billionaire has also called on authorities to allow dining and hospitality facilities to reopen at limited capacity in several weeks from now to avoid what could be one of the worst economic disasters in US history.

In a recent interview with Bloomberg, Mr. Fertitta said that while he supports the nationwide shutdown of businesses in the face of the Covid-19 outbreak, he thinks that “in a few weeks people will need to be around people” and that “otherwise we are going to go into an economic crisis that is going to take us years to dig ourselves out of.”

According to the billionaire businessman, who aside from his gaming and hospitality empire also owns NBA franchise Houston Rockets, casinos and restaurants could be allowed to operate at 30%-40% capacity to mitigate the economic impact of the current restrictions and to make sure that companies remain in business.

70% of Staff Temporarily Laid Off

Mr. Fertitta told Bloomberg that they had to place 70% of their staff on furlough as a result from the closure of most of the businesses owned by him.

The businessman is not the only casino owner to have furloughed employees in the wake of the coronavirus pandemic. Las Vegas casino giant MGM Resorts International laid off a number of employees following the closure of all of its US properties.

And as reported by Casino News Daily, the owners of Connecticut’s two casinos have placed their employees on furlough for the duration of the closure period.

Of the financial state of his businesses, Mr. Fertitta told Bloomberg said that he is confident these have access to enough cash to survive the current situation. Yet, the businessman said that he has been in talks with banks about potentially raising about $200 million in additional liquidity “as a little bit of insurance.”

Mr. Fertitta also noted that he is considering buying back Golden Nugget’s debt when things begin to turn back to normal and that he sees the move as great opportunity.

At present, the businessman’s Golden Nugget casinos in Las Vegas, Atlantic City, Lake Charles (Louisiana), and Biloxi (Mississippi) are temporarily shut down as are most of his restaurants. Those of his dining outlets that remain operational offer take-out and bring about 4%-5% of what they do when it is business as usual.

Mr. Fertitta noted that his gaming and hospitality businesses are burning through millions of dollars every day and that they are doing “basically no business.” The billionaire businessman noted that he wants to hire every furloughed employee back but “we have to survive or there is no company.”

Source: Billionaire Fertitta Furloughs 40,000 Workers at Casino, Restaurant Empire

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Pragmatic Play releases stunning new slot Golden Beauty

Pragmatic Play, a leading content provider for the gaming industry, has launched Golden Beauty, the latest title in its ever-expanding portfolio.

The 4×5, 75 lines video slot contains golden lotus flowers which will turn into Wilds every 10 spins when hit. Player can even choose their own volatility in the Free Spins option with up to 15 roaming Wilds.

Pots of gold, ruby broaches and delicate flowers grace the reels and three or more bonus symbols in any position trigger the free game session.

With its simple gameplay and stunning imagery, Golden Beauty’s mystical Empress takes players on an immersive tour of the Far-East and on to big prizes.

Melissa Summerfield, Chief Commercial Officer at Pragmatic Play, said: “Golden Beauty is the latest in a long list of beautifully designed slots and added to our popular portfolio.

“The feedback we’ve received from players has been extremely positive, with many citing the gorgeous graphics and gamification as a reason for the enjoyable gameplay.

“We’re thrilled to offer it to operators and we’re sure Golden Beauty is going to be the perfect addition to any suite of games.”

Golden Beauty is the latest title to join to Pragmatic Play’s award-winning collection of slot games which includes Super7s, Mustang Gold and fan-favourite Wolf Gold.

The provider’s entire portfolio of video slots, bingo, and other games is available to its operator partners via one single API.

Golden Nugget Inks Sports Betting Technology Deal with Scientific Games

Casino operator Golden Nugget has extended its existing partnership with major gambling software provider Scientific Games in a four-year multi-state, multi-product, and multi-channel agreement.

Under the newly signed deal, Scientific Games will provide the casino operator with its solutions across a number of states through 2024 with the option for the partnership to be expanded further.

Golden Nugget is set to utilize Scientific Games’ OpenGaming offering in New Jersey and Pennsylvania and in other states that may legalize online gaming in the near future. The casino operator will thus benefit from its partner’s Open Gaming System content aggregator, portal, and player account management solution.

In addition, Golden Nugget has also chosen to harness Scientific Games’ full OpenSports sports betting product suite and managed trading services from Don Best Sports. The casino operator will first deploy OpenSports in New Jersey where it gears up preparations to roll out a betting app.

Additional states will be included in Golden Nugget’s expansion plans as sports betting becomes legal in more states around the country. The deal between the operator and Scientific Games also includes an option for the implementation of the OpenSports solution in retail locations in multiple states, including Nevada, New Jersey, and Mississippi.

“A Cornerstone of Our Sports Betting and iGaming Strategy”

Of their extended deal with Scientific Games, Golden Nugget SVP and General Manager for Online Gaming Thomas Winter said that they have a long history with the major industry provider and that “their technology is a cornerstone of our sports betting and iGaming strategy.”

Jordan Levin, Group Chief Executive of SG Digital, Scientific Games’ online gambling arm, said that Golden Nugget “has a wide player base across the US, having pioneered the iGaming space in New Jersey from its earliest days, and we’re excited to power their sports betting and iGaming presence, providing a seamless and reliable end-to-end betting experience.”

Scientific Games’ expanded partnership with Golden Nugget was the latest of several major sports betting solutions supply deals announced by the provider in recent weeks.

After media reports, Scientific Games confirmed earlier this month that it has extended its existing partnership with Irish gambling operator Flutter Entertainment to cover online and mobile sports betting and online casino-style gambling offering with Flutter-owned sports betting operation FanDuel in the US.

Scientific Games’ betting platform has been powering the sports betting operations of Flutter brands in Europe for more than a decade.

It was this month again when it emerged that Scientific Games will also power the sports betting expansion campaign of British bookmaker Betfred in Pennsylvania. The operator will utilize the OpenSports platform to launch both retail and digital sports betting offering in the Keystone State.

The partnership between Betfred and Scientific Games will first see the operator launch a retail sportsbook at Wind Creek Casino in Bethlehem, Pennsylvania. A betting app is then expected to be rolled out ahead of the 2020-21 NFL season.

Source: Scientific Games and Golden Nugget Expand iGaming Partnership, add Sports Betting

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