The Mystic Gambler

Bally’s Corporation aims to get a big tax break for its $1.7 billion River West casino project, but Chicago Mayor Brandon Johnson does not like this idea. The company’s plan, if it gets the green light, could lower Bally’s property tax bill by almost $300 million in the next ten years.

Alderman Villegas Advocates for Bally’s Casino Tax Break to Boost Chicago’s Finances

Alderman Gilbert Villegas put forward the “Class 7b” tax classification during Wednesday’s City Council meeting. This plan aims to cut the property tax rate for the 30-acre casino site from 25% to 10% for 10 years. The rate would then go up to 15% and 20% in the last two years. Sources say this change would reduce Bally’s yearly property tax payments from about $45 million to $18 million. This would save the gaming company a lot of money.

Villegas, who heads the City Council’s Committee on Economic and Capital Development, has highlighted the wider money-related upsides of moving the project forward, reported the Chicago Sun Times. He pointed out that the casino is likely to bring in key funds to tackle the city’s underfunded police and fire pensions. He noted that the project is big and would help the city’s finances, making the case that Bally’s has the right to go after the tax break.

Despite this, Mayor Johnson and Corporation Counsel Mary Richardson-Lowry insist the city’s host agreement with Bally’s does not include this incentive. They claim both sides must stick to the original deal terms. 

Zoning Chair Walter Burnett Jr. Criticizes Bally’s for “Disrespectful” Push on Casino Tax Break

Zoning Committee Chair Walter Burnett Jr., whose ward contains the casino site, slammed Bally’s for going around the city administration to get the tax break. He called this move “disrespectful” and told the company to work together with its city partner.

Despite the disagreement, Bally’s stands by its request for the tax break pointing to similar incentives given for other big projects, like the quantum computing hub at the old US Steel location. The company maintains that the tax break matches the host agreement terms and meets the approval requirements.

Bally’s spokespeople also restated their plan to open the casino by September 2026 highlighting the possibility for the River West project to have extra features that could increase earnings.

This plan comes as people look at Bally’s short-term casino at Medinah Temple, which has not made as much money as first thought. The Johnson team says Bally’s investment will show its true worth when they finish building the main site.

The tax cut idea now goes to the City Council and Cook County Board to look at. Those involved will think about how it might affect the city’s finances and the future of Chicago’s big casino plan.

Thailand’s casino legislation efforts continue as everything points to the imminent legalization of integrated resorts. As the process moves forward, international communities continue to closely follow the developments.

Big Companies Are Eyeing Thailand

Prime Minister Prommin Lertsuridej recently addressed the matter, saying that six international operators, in particular, seem very interested in bidding for a license in Thailand. At the time of the report, the PM did not name the operators in question, although earlier reports give us a good idea as to who they might be.

Melco Resorts has been among the companies that have eyed Thailand since the very start. The company was originally interested in operating an integrated resort in Japan, although it eventually gave up on these plans. Now, Melco hopes to make up for its miss by targeting Thailand. To that end, it has already announced plans for an office in Bangkok.

Wynn Resorts has been another party that has closely followed the latest developments in Thailand. The company, which is currently hard at work on its Wynn Al Marjan resort in the UAE, continues to pursue international growth opportunities.

MGM Resorts has likewise been interested in the UAE and Thailand, hoping to become one of the pioneers in these fresh markets.

Other companies that have expressed interest in Thai casino gaming include Genting Malaysia, Las Vegas Sands and Galaxy Entertainment.

More Than Just Casinos

Casino gaming would be only a part of the appeal of Thailand’s planned resorts. According to PM Prommin Lertsuridej, the new legislation would focus on bolstering the country’s tourism sector by creating attractive destinations.

To that end, integrated resorts would offer thousands of rooms and multiple leisure and entertainment options other than gaming. This would include theaters, exhibition areas, shopping districts, theme parks and premium dining options, among other offerings.  

The Thai legislation has so far been moving at incredible speed thanks to the country’s ambition to overtake Japan, whose only integrated resort in progress has suffered multiple setbacks. The quick legislation has also been due to the government’s search for additional revenue streams.

If IRs hit the Thai market, experts predict a GDP boost of up to 0.7% once the projects are finished. The new properties are also projected to lead to a spike in tourism revenue and would create thousands of jobs.

Speaking of tourism, Melco recently predicted that the third season of HBO’s The White Lotus series would inspire more people to visit the Asian country.

Online Gaming Is Also on the Table

In the meantime, Thailand is also considering online gambling, which will further enhance the local economy. These legislative efforts are also considering legal crypto gaming, in line with the latest developments in the sector.

The draft rules for iGaming should be ready within a few weeks.

The former owner of King’s Resort and professional poker player, Leon Tsoukernik, is reportedly in critical condition after he was found collapsed in his home in the Czech Republic on Monday.

Emergency Services Respond to Possible Overdose, Police Launches Investigation

The professional poker player may have overdosed on a drug called propofol. As reported by the local media outlet, Novinky.cz, Tsoukernik’s condition may have been the result of an “unprofessional” administration of the drug intravenously. It is unclear whether the poker player was with another person and how were emergency services contacted.

A spokesperson for the emergency services that responded to the call for help at Tsoukernik’s home confirmed that two medical crews and a doctor arrived on site. “We handed over the patient to the air ambulance in serious condition,” the spokesperson added. Details on the matter remain scarce but Tsoukernik is believed to be in critical condition and “fighting for his life,” according to the local media.

The suspected overdose prompted an investigation of law enforcement. A spokesperson for the police in Chodová Planá, the area where Tsoukernik lives, confirmed that law enforcement is looking into potentially “illegal behavior.” The spokesperson added that the investigation is looking into potential “serious” bodily harm, yet it remains unclear whether there are any suspects at the time. Still, the spokesperson added that law enforcement will investigate all relevant circumstances regarding the case of suspected overdose.

Tsoukernik Is a Famous Poker Player, Casino Entrepreneur

It was last year when Tsoukernik sold his share of the casino he founded, King’s Resort. The deal saw the casino’s founder collect approximately €400 million ($412 million) from the sale of his share. Besides a successful entrepreneur in the casino sector, Tsoukernik is also a professional poker player.

Throughout his professional career, he has collected close to $5.5 million from live tournaments. He has won two seven-digit prizes. Most recently, Tsoukernik faced Phil Ivey in the €100,000 buy-in No-Limit Hold’em Short Deck Super High Roller at the 2019 WSOP Europe. Emerging as the winner of the event which took place at King’s Resort, Tsoukernik took home the top prize of $1.2 million.

On the other hand, the largest prize from a live tournament was scored by the poker player in 2017. At the time, Tsoukernik ranked fourth at the Super High Roller Bowl. This granted him a prize of $1.8 million.

Propofol Requires a Prescription in Many Countries

Propofol is a drug used to put people into sleep during general anesthesia. The intravenous anesthetic is used during and before medial surgery, or other medical procedures and acts as both a sedative and anesthetic.

Besides its medical use, propofol has gained notoriety about its recreational use and abuse that has led to a number of overdose cases, some which have been an accident, while others may be seen as suicide.

A propofol overdose usually results in respiratory failure, leading to death of the person. This is why propofol requires a prescription and needs to be administered by a doctor or anesthesiologist.

Back in 2009, the all-time music icon, Michael Jackson, died of propofol intoxication. Several years later, the star’s personal physician, Dr. Conrad Murray was convicted of involuntary manslaughter after administering propofol together with benzodiazepines lorazepam and midazolam. Murray, while initially sentenced to four years in prison, was released after two years in 2013.

A federal judge has turned down the Federated Indians of Graton Rancheria‘s attempt to stop the approval for a casino and resort proposed by the Koi Nation. This ruling marks a big step forward for the Koi Nation, a small Pomo tribe forced out of Lake County, and a blow to tribes against the project, including Graton Rancheria and Lytton Rancheria.

Koi Nation’s Casino Proposal Clears Legal Hurdle, Faces Continued Resistance

The 68-acre project situated near Windsor, has encountered opposition from rival tribes and nearby communities. Opponents claim it overlooks historical tribal connections and local concerns. Even so, US District Judge Rita F. Lin concluded that the Koi Nation’s proposal did not pose immediate harm that justified stopping federal proceedings, reported The Press Democrat. The Bureau of Indian Affairs (BIA) still needs to finish environmental and regulatory reviews to give final construction approval.

Tribes like Graton Rancheria have voiced worries about a lack of talks on cultural and environmental effects. Graton Chair Greg Sarris slammed the ruling saying it hurts tribal power and creates a worrying example. Lytton Rancheria Chair Andy Mejia also said the federal approval process was too quick and broke trust responsibilities. Both tribes say they will keep fighting the project in court.

The casino plan fits a pattern of faster okays for tribal gaming projects under Biden’s administration. People wonder if the administration wants to wrap up these decisions before new leaders might take over. The recent green light for a similar project by the Scotts Valley Band of Pomo Indians in Vallejo has made these talks heat up.

Koi Nation’s $600M Casino Plan Sparks Debate Over Local Impact and Tribal Revival

The Koi Nation aims to build a $600 million complex, including a 530,000-square-foot casino floor with 2,750 slot machines, 105 gaming tables, and a 400-room hotel. This project could change the tribe’s fortunes, as they have struggled to gain federal recognition and support for years.

However, locals continue to push back. People living in the area and officials worry about increased traffic, problems with evacuating during wildfires, and the strain on local resources. Sonoma County Supervisor James Gore pointed out that the size and location of the proposed development create big problems for keeping the community safe and maintaining infrastructure.

The Koi Nation has fought back against these criticisms. They say the casino will create jobs and help them regain their tribal independence. They are using the “restored lands exception” to build gaming facilities outside their historical areas. This move has raised eyebrows but remains legally sound.

Building is set to start in 2026, but there are more regulatory hoops to jump through and possible challenges ahead. 

A proposed casino in Virginia continues to raise concerns. That is the case with Tysons casino, a project proposed by the developer Comstock that would bring gambling, entertainment and hospitality to Fairfax County.

We recently reported that close to $1 million was spent by opponents of the project. While that sounds like a solid figure, it pales in comparison to the $2 million spent in support of the Tysons casino project.

While one bill was carried from the last legislative session, now, a new proposal seeks to add Fairfax County to the state’s list of eligible jurisdictions for a casino.

New Bill Calls for the Development of a Casino in Tysons

That is the case for Senate Bill 982 (SB 982), introduced by Scott Surovell, a senate majority leader. The proposal was filed on Wednesday this week and referred to the Committee on General Laws and Technology. Similar to the proposal that was carried from the 2024 legislative session, SB 982 aims to greenlight the development of such a casino project.

Surovell’s bill sets out several conditions for the new casino establishment which needs to be located within a quarter of a mile from an existing Metro Silver Line station. Notably, the casino needs to be “within two miles of a regional enclosed mall containing not less than 1.5 million square feet of gross building area” and outside of the Interstate 495 Beltway. In addition, SB 982 proposes the casino to be a part of a project with mixed-use that is no less than 1.5 million square feet.

Tysons Casino Expected to Bring Economic Benefits

Christopher Clemente, Comstock’s CEO, who was recently interviewed by NBC Washington, spoke about the importance and benefits of the proposed project. In the words of the CEO, Tysons generates approximately $250 million in tax revenue per year. According to Clemente, that tax revenue is expected to double with the Tysons casino project.

Comstock’s executive added: “By bringing a casino operation to a development like that, we can do those other things that are beneficial to the community, the county, and the state for that matter, without requiring any public financing of any kind.” Clemente added that the proposed project will also bring nightlife to Tysons, which is missing at the moment.

The financial benefit the project may bring was also on Surovell’s mind. The state senate majority leader estimated that Virginia loses approximately $300 million per year as residents visit MGM National Harbor in nearby Maryland. “I wanna see that $300 million come back to Virginia and pay for schools in Fairfax County and Virginia,” Surovell explained.

The proposed project, which according to defense and intelligence experts represents a threat for national security, is supported by local unions. This is because such development would create temporary and permanent jobs, revitalizing not only the city but the whole county.

Still, the Tysons casino project needs a number of approvals prior to lifting off. Such include approval by the state’s legislators and a signature from the governor before the proposal is put up for a vote in a referendum.

Wynn Resorts expands into the European market by purchasing Crown London Casino for an undisclosed amount of money.

Wynn Resorts and Crown Resorts Announce Deal

In a statement issued on January 10, Wynn Resorts announced the purchase of Crown London casino. According to the release, the deal for the small, members-only casino in the heart of London’s upscale Mayfair district, will be finalized sometime in the second half of 2025.

According to Wynn Resorts CEO Craig Billings, the acquisition of the casino offers the company a presence in a global gateway city. Billings further explained that this move would create a conduit for Wynn guests to visit other locations of the company. He emphasized Wynn Al Marjan Island which is slated to open in the first quarter of 2027 in Ras Al Khaimah in the United Arab Emirates.

By some estimates, the London area is home to approximately 200,000 people of Arab heritage. Also, according to Statista, around 1.5 million tourists from the Middle East, including the UAE, visited the UK in 2019. Regarding these numbers, it makes a lot of sense why Wynn would like to purchase Crown London.

Meanwhile, Crown Resorts CEO David Tsai explained that the sale of the London establishment aligns with the company’s strategy to invest in their Australian assets.

Our priority is to deliver new and elevated experiences for our guests in Melbourne, Perth, and Sydney in line with our strategy to be the leading entertainment destinations in Australia.

Crown Resorts CEO David Tsai

More About Wynn Resorts and Crown

Traded on the Nasdaq Global Select Market under the ticker symbol WYNN and is part of the S&P 500 Index. The company owns properties in Las Vegas (Wynn Las Vegas) and Boston (Encore Boston Harbor), both in the US, and the Macau SAR (Wynn Macau).

Wynn’s Las Vegas establishment consists of two luxury hotel towers with a total of 4,748 spacious hotel rooms, suites, and villas. In a similar vein, Encore Boston Harbor is a large luxury resort destination featuring a 210,000-square-foot casino, 671 hotel rooms, an ultra-premium spa, specialty retail, 14 dining and lounge venues, and more.

Wynn’s Macau property has more than a thousand rooms and suites, approximately 294,000 square feet of casino space, 14 food and beverage outlets, over 30,000 square feet of meeting and convention space, and various retail and leisure facilities. Also situated in Macau, Wynn Palace boasts approximately 468,000 square feet of casino space, more than 1,700 rooms, and more retail and leisure space. Additionally, the venue has a large collection of rare art.

By contrast, Crown London is far smaller and more exclusive. The venue spans two historic townhouses in Mayfair, London. It offers its guests 20 gaming tables in a variety of sophisticated salons, as well as an intimate restaurant and lounge.

Wynn Resorts and Crown have a history together. In January 2018, the former bought land on the Las Vegas Strip that was previously owned by the latter, and the deal closed for $300 million.