Latest Gambling News: Resorts World Names New Las Vegas CEO, Board Of Directors, and more

Catch up on six of the stories our gambling compliance analysts have covered lately, and stay up-to-date on the latest news.

Resorts World Names New Las Vegas CEO, Board Of Directors

As the company prepares to file its response to an allegation of illegal bookmakers gambling at its Las Vegas-based casino, Genting Berhad has hired a new CEO and named a board of directors to oversee Resorts World Las Vegas.

Jim Murren will be named chairman of the four-member board overseeing the Strip resort, while Alex Dixon, former CEO of Q Casino & Resort and Dubuque Racing Association in Dubuque, Iowa, was named chief executive.

The decision to shake up Resorts World’s c-suite in Las Vegas comes as the property faces an allegation raised in a 12-count disciplinary complaint filed in August by the Nevada Gaming Control Board (NGCB). Malaysia-based Genting has until Monday to file a formal response to the allegations.

The NGCB’s complaint accused Resorts World Las Vegas of an “overall lack of control” when it came to money laundering. Regulators identified cases in which individuals with suspected or known ties to illegal gambling operations criminal records were allowed at the casino.

The complaint accused executives of a “culture where information of suspicious or illegal activity is, at a minimum, negligently disregarded, or, at the worst willfully ignored for financial gain.”

The Nevada Independent reported that Murren, who was CEO of MGM Resorts International from 2008 to 2020, will be joined by former NGCB chairman A.G. Burnett, casino human resources executive Michelle DiTondo and Genting president Kong Han Tan.

Murren is currently serving as chairman of the General Commercial Gaming Regulatory Authority in the United Arab Emirates (UAE), which was founded to oversee the licensing on gaming in the UAE.

It’s Official: Missouri Certifies Narrow Sports Betting Win

Missouri election officials on Thursday (December 5) certified that Amendment 2, a ballot initiative to legalize land-based and mobile sports-betting, was narrowly approved by voters on November 5.

The Missouri Board of State Canvassers reported Amendment 2 passed by only 2,961 votes.

With the votes tallied from all 3,572 precincts, 50.05 percent, or 1.478m voters, approved Amendment 2, while 49.95 percent, or 1.475m eligible voters, voted against legalizing sports betting, according to election results published by the secretary of state’s office.

The election results had to be certified before Tuesday (December 10). With Amendment 2 winning by less than 0.5 percent, a recount can be requested between December 10 and December 17.

The Missouri Independent reported that Missourians Against the Deceptive Online Gambling Amendment campaign does not plan to request a recount.

Under the constitutional amendment, the Missouri Gaming Commission must launch sports betting by December 1, 2025. Currently, 38 states and the District of Columbia regulate mobile and retail sports betting.

The initiative grants each of the six in-state professional sports franchises a license to operate a land-based sportsbook in or around their stadium, as well as one mobile betting platform to partner with an online gaming operator.

Each of the state’s 13 casinos will be entitled to their own retail outlet and mobile betting platform, with two mobile platforms untethered to any land-based property.

AGA Responsible Betting Campaign Targets Athlete Harassment

The American Gaming Association (AGA) has updated its responsible sports-betting campaign that emphasizes harassment of athletes by gamblers.

“Responsible gaming efforts like Have A Game Plan and other proactive efforts by legal operators are resonating with consumers and making a difference,” said Bill Miller, president and CEO of the AGA.

“‘Keep Your Cool’ builds on this momentum by reminding bettors that a betting result - good or bad - is not an invitation to criticize a team, official, or athlete.”

Since its launch in 2019, Have A Game Plan, Bet Responsibly, has tried to educate bettors through four pillars, from setting a budget and sticking to a financial limit to keeping betting social as part of a shared activity.

The AGA’s pillars also includes knowing betting terminology and understand risks before wagering, and play legally with regulated, legal platforms.

The fifth pillar - Keep Your Cool - reminds gamblers that the result of a bet should not prompt negative actions, in person or online, towards athletes and officials. The AGA reminds consumers that “sports betting is entertainment.”

South Africa Ad Watchdog Gambling Code Aims To Simplify Compliance

South Africa’s advertising watchdog has published a new gambling appendix covering its Code of Advertising Practice to streamline compliance and ensure gambling adverts are ethical.

The “Gambling Code Appendix” published this week by the Advertising Regulatory Board (ARB) includes general provisions such as rules for advertising a gambling device, activity, premises, or website as well as rules around advertising to minors, and responsible gambling messaging.

The ARB told local media: “After consulting with the National Gambling Board, the ARB has created an Appendix that reflects all the existing laws on gambling advertising. Nothing in this appendix is new, but it brings it together in one place and presents it in an understandable order and in simplified wording.”

Mohegan Sun, Betfred Closer To Nevada Exit

Casino operations at Virgin Hotels Las Vegas will be taken over by two in-house executives as Mohegan Sun will end its lease and management role of the gaming floor.

Betfred will also exit Nevada when its deal as the sportsbook provider for Mohegan expires on December 31. The tribe and Virgin Hotels jointly announced the transition in May, subject to regulatory approval.

The Nevada Gaming Control Board (NGCB) granted preliminary approval to the deal on Wednesday (December 4). The Nevada Gaming Commission (NGC) will consider final approval of the transition at its December 19 meeting.

“The deal with Mohegan simply did not work and Mohegan provided termination to the property earlier this year on March 29, 2024,” said Cliff Atkinson, president of Virgin Hotels Las Vegas and CEO of C&C 4455.

Atkinson told the NGCB he expects the deal to close at the end of the first quarter of 2025. At that time, C&C 4455 will oversee gaming on the property through a lease to manage the casino operations.

He added that they are developing a new sports-betting platform to replace Betfred.

Mohegan Sun in March 2021 became the first tribe to manage a commercial casino in Las Vegas. Since then, the San Manuel Band of Mission Indians of Southern California acquired the Palms casino, and The Mirage was acquired by Hard Rock International, which is owned by the Seminole Tribe of Florida.

Robinhood Considering Sports Betting Event Contracts

Robinhood confirmed at its first investor day on Wednesday (December 4) its interest in potentially moving into sports betting after the success of offering event contracts on the 2024 U.S. presidential election.

“We are keenly looking into that space,” said Vlad Tenev, chairman and CEO of the online trading platform. Tenev explained to analysts and shareholders the wagers would be event contracts on sporting events.

“It’s different from sports betting, because these are (federally) regulated event contracts,” said Tenev.

An event contract is a derivative contract whose payoff is based on a specific event, occurrence, or value such as the value of a macroeconomic indicator, corporate earnings, level of snowfall, or dollar value of damages caused by a hurricane.

The contracts are regulated by the Commodity Future Trading Commission (CFTC). Tenev said they weren’t going to make any announcements on Wednesday, but we’re “definitely thinking about it.”

“It is so important to our customers and culture that we are excited about it,” he added.

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