Casino Vip search

Archive for April 14th, 2019

Iowa Gaming Regulator to Review Catfish Bend Casino’s Sportsbook Plan

An Iowa casino is gearing preparations to build a sportsbook as state lawmakers are debating the legalization and regulation of sports betting

Local television station KCRG reports that the state Racing and Gaming Commission is set to review two contracts next week that, if approved, would allow Catfish Bend Casino in Burlington to build and operate a sports betting facility, should the practice become legal in Iowa.

One of the contracts would authorize the construction of the sportsbook by Minnesota-based company DesignWise to design and build Catfish Bend’s sportsbook. The company specializes in the provision of interior design products and services for the hospitality and commercial industries.

The other contract would pave the way for New Jersey sports betting company PointsBet to enter Iowa’s sports gambling market as the operator of Catfish Bend’s sports betting facility. Originally founded in Australia, PointsBet launched its sports betting operation in New Jersey early this year. Encouraged by the growth of the New Jersey wagering market, the operator is now exploring expansion opportunities across the United States.

Iowa is one of many states currently discussing the legalization of sports betting on their territories. A number of states have already legalized the practice in the wake of last May’s ruling of the US Supreme Court that struck down the long-standing federal prohibition on sports wagering.

Iowa’s Sports Betting Bills

A House and a Senate versions of a bill for the legalization and regulation of sports betting are currently under discussion in the chambers of the state’s Legislature. Most recently, the Senate version of the piece of legislation was recommended for passage by the Senate Ways and Means subcommittee.

Sponsored by Sen. Roby Smith, SF 366 calls for the regulation of both in-person and digital sports betting in the state. Legal betting services will be taxed at 6.75% on annual gross revenue, if the legislation survives through all pending legislative hurdles.

SF 366 now needs to be passed in the Ways and Means Committee in order to advance to the full Senate floor. Once it moves from the Ways and Means Committee, the piece will be in line with its House counterpart.

Iowa’s regular legislative session is slated to end on May 3 and lawmakers have up until then to advance a sports betting bill through the Legislature. The piece will also need Gov. Kim Reynolds’ signature. The state’s top official has previously said she thinks sports betting should be regulated in Iowa. Sen. Smith has said he is optimistic that Gov. Reynold will sign the legislation into law.

Follow us on Facebook and Twitter to stay up to date on the day’s top casino news stories.

The post Iowa Gaming Regulator to Review Catfish Bend Casino’s Sportsbook Plan appeared first on Casino News Daily.

Construction Workers Shortage Pushes Back Wildhorse Casino Expansion

Wildhorse Resort & Casino expansion hits another setback, CEO proposes the project to be split into two smaller ones so that costs are reduced

The Wildhorse Resort & Casino in Pendelton, Oregon is pushing back the start of an expansion project due to unexpectedly high labor costs and shortage of construction workers in the region, local news outlets report.

The casino resort is owned by the Confederated Tribes of the Umatilla Indian Reservation. The tribal union has previously announced an $85-million expansion project that would include the addition of a hotel tower, an event center, and a family-friendly entertainment venue, among other amenities.

The major scheme was expected to be finalized this spring, but has hit multiple setbacks since first announced. The first unexpected issue stemmed from steel tariff issues. Casino resort owners are now faced with shortage of construction workforce as well as unexpectedly high labor costs.

Commenting on the latest delay of construction, the property’s CEO, Gary George, told local media that there has been extremely hard demand for contractors in the northeastern Oregon and southeastern Washington regions. The demand has mostly been prompted by renovation projects at local schools. In addition, Google and Amazon are planning to open data centers in the region later this year, which has further boosted demand for workforce.

With all the big new projects, “contractors can raise their rates,” Mr. George said. The casino’s management has received budget proposals for their expansion project from several construction companies, but all exceeded the original $85 million budget. A $104 million budget by Lydig Construction was the one to get the nod from the casino resort’s officials.

Splitting the Expansion into Phases

Mr. George told local media that he has advised the board to split the expansion into two smaller projects and carry them out separately. The first stage of expansion would see the construction of a one-story family entertainment center. This would be the smaller portion of the whole planned expansion and would cost around $30 million.

The second phase of the plan would involve the development of a ten-story hotel and an event center. More finances and workers would be needed for that portion of the project, due to its significantly larger scope.

Mr. George said that if the expansion is split into two smaller projects, the family entertainment center could be completed by May or June.

According to estimates, the whole expansion would need between 250 and 350 workers. If the project is divided into two smaller ones and the entertainment facility is build first, then they would need fewer workers, Mr. George pointed out. That move would also provide them with more time to make necessary reductions to the hotel and event center phase of the scheme.

Mr. George’s proposal is currently being discussed and the Wildhorse Resort & Casino board of trustees is yet to vote on it.

Follow us on Facebook and Twitter to stay up to date on the day’s top casino news stories.

The post Construction Workers Shortage Pushes Back Wildhorse Casino Expansion appeared first on Casino News Daily.

Casino Vip
April 2019
« Mar