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Casino City’s Friday Five: Las Vegas Sands sell off edition

5 March 2021

By Dan Ippolito
Sheldon G. Adelson, former chairman and CEO of Las Vegas Sands, passed away nearly two months ago and the company is making some drastic changes. Before we dive into that, we also have a slots tournament at Intertops Poker, a massive jackpot win in Indiana, impressive debut sports betting numbers for Virginia and a ground breaking set to take place on a new California casino property.

Let’s start with some slot play:

5. March slots tournament at Intertops Poker
Through Monday, everyone at Intertops Poker that plays the Golden Horns, Dragon & Phoenix, Dim Sum Prize and Bamboo Rush slots earn tournament points.

At the end of the tournament, 16 players with the most points will split $2,000.

"I won $80 once. And $40 another time," said one regular player. "I'm determined to win that $400 first prize one of these days!"

4. Four Winds South Bend awards $1.5 million jackpot
A guest from Bremen, Indiana won a $1,573,328.40 progressive jackpot on Monday, 1 March, at Four Winds South Bend.

The winner, who chose to remain anonymous, won the progressive jackpot playing a Dancing Drums Explosion slot.

The progressive slot machine is now reset for another winner to take home a $1 million progressive jackpot.

3. Virginia’s sportsbooks impress with $60 million debut in January
Virginia's sportsbooks are off to an impressive start after collecting nearly $60 million in wagers in the first 11 days after the market launched on 21 January. That is the second-highest monthly total in U.S. history for any state in its first month of legal sports betting, according to PlayVirginia.

Only neighboring Tennessee, which drew $131.4 million in bets in the 30 days after launching on 1 November, generated more than Virginia in its debut month, though Virginia topped Tennessee's per-day total.

Virginia's sportsbooks won $3.6 million in gross gaming revenue in January. But with an expectedly heavy early promotional push, three of Virginia's four sportsbooks lost money. That put combined adjusted gaming revenue at a $3.2 million loss. However, PlayVirginia expects will grow to generate some $5 billion in annual bets at maturity.

2. Construction on Boyd Gaming’s Elk Grove property to begin next week
Boyd Gaming Corporation and the Wilton Rancheria Tribe announced plans this week to break ground on the tribe's gaming resort in Elk Grove, California, on 9 March, with construction commencing shortly thereafter.

The property will be the closest casino to both Sacramento and the south Bay area and is scheduled to open to the public in the second half of 2022.

The casino will feature up to 2,000 slot machines, more than 80 table games and food and beverage offerings featuring local and regional brands from across Northern California.

1. Las Vegas Sands to sell Venetian, Palazzo and Convention Center
Less than a month after the passing of Las Vegas Sands President and CEO Sheldon Adelson, there was a sudden change in philosophy as the new CEO began to steer the company toward online gambling and digital betting.

More drastic changes were announced on Wednesday when Las Vegas Sands unveiled the news that it entered into definitive agreements with Apollo Global Management and VICI Properties to sell its Las Vegas real property and operations, including The Venetian Las Vegas and the Sands Expo and Convention Center for an aggregate purchase price of approximately $6.25 billion.

Sands executives said that while selling The Venetian, the property that helped establish Sheldon Adelson and his company at the top of the gaming industry, will be bittersweet, the opportunities for the company to pursue new growth prospects are robust.

"The Venetian changed the face of future casino development and cemented Sheldon Adelson's legacy as one of the most influential people in the history of the gaming and hospitality industry. As we announce the sale of The Venetian Resort, we pay tribute to Mr. Adelson's legacy while starting a new chapter in this company's history," said Las Vegas Sands Chairman and Chief Executive Officer Robert Goldstein.
Casino City’s Friday Five: Las Vegas Sands sell off edition is republished from Online.CasinoCity.com.
 

Top 10 new Las Vegas experiences on my trip itinerary

1 March 2021
In May, I hope to head out west to Las Vegas with a few friends. The COVID-19 pandemic disrupted our plans to visit Sin City a couple different times last year, as we wanted make sure it was safe to get out there and fully enjoy ourselves. With COVID-19 cases on the decline in Nevada, I am very excited that the trip is back on. ... (read more)
 

Casino City’s Friday Five: Decreasing restrictions and goodbye to Full Tilt Poker

26 February 2021
Last week, we heard the news that Nevada casinos moved from 25% limit to 35%, with hopes of moving to 50% in mid-March. Now, we are seeing more Sin City casinos return to their normal hours. Along with Las Vegas opening up more, we saw the demise of one of the most well-known brands in online poker history, ... (read more)
 

Casino City’s Friday Five: Trending toward back to normal edition

19 February 2021
Last week, Nevada casinos were allowed to increase capacity from 25% to 35% with hopes of moving to 50% in March. This week, we saw more signs of progress toward normalcy when MGM Resorts International announced three of its Las Vegas Strip resorts will be moving back to 24/7 hours. Also this week, we have two online massive jackpots, an online revenue records in multiple U.S. ... (read more)

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Dan Ippolito
As Casino City's associate editor, Dan produces and edits all of our weekly newsletters, and writes about the gaming industry for our websites and the GPWA Times Magazine. Dan graduated from Marist College in 2017 with a degree in Communications and a concentration in Sports. Email him at daniel@casinocity.com, or follow him at @casinocity_dan on Twitter.
Dan Ippolito
As Casino City's associate editor, Dan produces and edits all of our weekly newsletters, and writes about the gaming industry for our websites and the GPWA Times Magazine. Dan graduated from Marist College in 2017 with a degree in Communications and a concentration in Sports. Email him at daniel@casinocity.com, or follow him at @casinocity_dan on Twitter.