Virginia’s three casinos generated $82.1m in October, up 44% year on year, according to figures reported by the Virginia Lottery. Caesars Virginia recorded $33.6m, Rivers Casino Portsmouth $27.3m and Hard Rock Hotel & Casino Bristol $21.2m. Statewide slot revenue reached $60.6m and table-game revenue was $21.5m.
The figures give Virginia casino operators a breakdown of October revenue by property and gaming type.
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Jefferies Equity Research analyst David Katz assessed Virginia’s casino market in an investor note dated 22 May, reportedly, after analysts toured casinos in the state. He cited competition facing Churchill Downs and Rush Street Gaming, while saying igaming remained several years away. Katz lowered his Churchill Downs price target from $139 to $138 per share.
Citizens analyst Jordan Bender said the US midterm election results could influence gaming companies. In Texas, Vicki Goodwin won the lieutenant governor race and supports a public vote on casinos and sports betting; Nebraska voters rejected two measures that would have legalised online sports betting. Bender said Amy Acton's Ohio victory may ease the path to igaming legalisation, though Republicans hold supermajorities in both legislative chambers.
The US Equal Employment Opportunity Commission (EEOC) said a federal judge approved its settlement with Horseshoe Casino Baltimore and Caesars Entertainment on 3 November. The agreement provides former dealer Quann Massey with $130,000 in compensatory and punitive damages and $20,000 in back pay, payable within 30 days, and requires three years of workplace monitoring; it is not an admission of wrongdoing.
Horseshoe Casino Baltimore and Caesars Entertainment will pay $150,000 to an ex-dealer who, by allegation, lost his job after suffering a heart attack on a night shift. On Tuesday (Nov. 3), US District Judge Brendan A. Hurson approved the settlement, which ends the EEOC's lawsuit alleging disability discrimination and retaliation against the casino operators.
Texas lieutenant governor-elect Vikki Goodwin said she would support legislation allowing casino resorts if voters in the state wanted them. Her comments come after she defeated incumbent Dan Patrick in the election; the article also reports that Texas governor-elect Gina Hinojosa has not stated a similarly explicit position on casinos.
Goodwin told Casino.org that she would embrace legislation allowing casino resorts in Texas. Goodwin defeated Patrick on Election Day, becoming the first Democratic lieutenant governor of Texas in nearly three decades.
Colorado Governor Jared Polis proposed raising the effective tax rate on the state’s casinos to 23% from 16.1% in his final budget proposal. The proposal estimates $80.2 million in annual revenue from the gaming industry; voters would have to approve a tax increase under the state’s taxpayer bill of rights.