Gaming Market Weekly Update

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Gaming Market Weekly Update

Review-Journal cited a study from The Visual Capitalist. The growth was largely fueled

by Nevada’s tourism-centered economy and expanding business and healthcare sectors,

the report said. Nevada was followed by Arizona and Florida, growing 329% and 246%,

respectively.

Ilitch Family Forms Gaming Entity

The Ilitch family-owned Ilitch Companies, which owns companies including MotorCity

Casino in Detroit and the Little Caesar’s Pizza chain, has formed a gaming corporation.

Ilitch Gaming will oversee the organizations gaming-related business and growth

initiatives, it said. With the formation of the Ilitch Gaming, the company also acquired

Scarlet Casino in D’Iberville, Mississippi and the remaining stake in Ocean Casino

Atlantic City it doesn’t currently own. Both acquisitions remain subject to regulatory

approval. Terms of the acquisitions were not disclosed.

Kalshi Considering IPO?

Kalshi has opened informal discussions around a potential IPO, according to a report

from The Information. Discussions come after Kalshi’s latest funding round that valued

the company at $22 billion, around double the $11 billion valuation in a financing round

last December. Kalshi’s annualized revenues have also roughly tripled since November to

more than $2 billion, mainly driven by trades on sports event contracts from the NBA

and FIFA World Cup, the report said.

PENN Board No Longer Staggered

Penn Entertainment’s (PENN) shareholders approved the UNITE HERE union-backed

proposal to declassify PENN’s board of directors. Under the proposal, directors would

move from a staggered election system to an annual election for all directors. UNITE

HERE said annual elections would enhance board accountability and corporate

governance.

MD to Buy Preakness IP