Casino News: US Interior Department Approves Florida Gaming Compact, Caesars Plans to Sell Vegas Strip Casino in 2022

This week’s casino news starts off in Florida where sports betting is on the way. Let’s take a closer look at the latest headlines.

New Florida Gambling Compact Has Been Approved

Florida has taken a tremendous step into the right direction this week with the U.S. Department of Interior approving of their 30-year gaming compact with the Seminole Tribe.  This approval means that sports betting in the Sunshine State is set up to launch on October 15th. The new compact will also allow the tribes to expand into other categories such as craps and roulette.

However, the state and tribe aren’t out of the woods just yet. Once the federal government approved of the compact, they sent over a letter to the tribe regarding some potential problems that would have to be solved. A few of those problems concern mandatory vendor contracts as well as the inclusion of provisions when it comes to tort claims.

Ron DeSantis, the governor of Florida, was able to reach this compact with the tribe back in April. As of right now, the new agreement is estimated to reel in $2.5 billion to the state throughout the next five years.

Caesars Entertainment Plans To Sell Las Vegas Strip Casino Soon

Caesars Entertainment is looking to make a change on the Las Vegas Strip. CEO Tom Reeg recently announced that they plan on selling one singular asset sometime in 2022. There wasn’t any official date revealed nor were there any specific properties available at the time of the announcement.

Caesars Entertainment currently owns Bally’s, Caesars Palace, Planet Hollywood, Harrah’s Las Vegas, Paris, LINQ, the Flamingo and the Cromwell. It seems that pretty much every casino is up for grabs at the moment, though it is a longshot for them to part ways with either the LINQ or Caesars Palace. Bally’s is also a longshot due to them having a convention center attached to the property.

Planet Hollywood seems to be the leading candidate for the time being. The company opted to completely shutter their operations last year and just recently chose to close down their poker room. It looks like they are gearing up to ship the property over to another buyer.

Largest Gambling Conference In North America Returns To Las Vegas

Arguably the largest gambling convention has their eyes set on a Las Vegas return. The Global Gaming Expo, also known as the G2E, recently held a gathering during the Sands Expo. This was when they announced that they are planning to open registration in order to hold their upcoming events in Las Vegas after everything was cancelled during 2020.

This convention has been around for a very long time and has been a staple of the Las Vegas gambling community since 2001. It has been estimated that their events usually draw in about 30,000 people every year that they hold it.

The upcoming event also plans to follow every single health and safety regulation that is set out by both the state and federal government right now. Furthermore, G2E is going to be donating $25 for every pass purchased to the International Center for Responsible Gaming.