The Strat Casino Debuts New Casino Loyalty Programs for Las Vegas Locals

• Golden Entertainment-owned casino hotel launches loyalty plan targeting Las Vegas locals segment
• Program includes free parking

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The Strat Hotel, Casino & Tower is elevating the guest experience with its new “Strat True Locals” initiative, a specialized branch of their broader suite of casino loyalty programs. This unique program is specifically designed to recognize and reward Las Vegas residents, ensuring that locals receive premium benefits and exclusive perks for their continued patronage of the hotel and gaming floor.

This new program stems from Golden Entertainment’s True Rewards player loyalty scheme, designed to enhance the dining and entertainment experiences for members. Participants will need to present a valid Nevada identification along with their True Rewards card at The Strat to avail themselves of the various benefits. Here’s a quick rundown of what members can expect:

20% off food and drinks at The STRAT’s renowned restaurants and bars, including the popular Top of the World Steakhouse, known for its stunning 360-degree views, as well as PT’s Wings & Sports and CHĪ Asian Kitchen.

Additional perks include:

• 25% off bookings at Atomic Golf
• 50% off hotel stays when booked directly through The Strat
• Free admission to The Strat’s observation deck
• 50% off tickets for shows and thrill rides

Other Perks and Important Details

Joining both the True Rewards and the Strat True Locals programs is free of charge, which is beneficial as membership in True Rewards is a prerequisite for joining the locals’ program.

While the emphasis of the Strat True Locals program is on dining and entertainment benefits, there are also potential gaming-related perks, including invitations to local-only events, point multipliers, tournaments, and more.

A Smart Move by Golden Entertainment

The Strat True Locals program represents a strategic effort by Golden Entertainment to attract more Southern Nevada residents to their casino hotel. While located just off the Strip, the venue is often perceived as a part of the Strip by tourists, creating a unique market opportunity.

Additionally, Golden’s PT’s Pubs account holds over 70 gaming bars across Nevada under various brands, including Lucky’s and PT’s Gold, further aiming their services towards Las Vegas locals.

In summary, the Strat True Locals rewards program is a commendable effort to deepen connections with local residents, offering them not just discounts but also unique experiences that elevate their time at The Strat. This loyalty initiative paves the way for stronger community engagement within the vibrant Sin City landscape.

Casino Operators Stock Surges Following CEO Lees Share Purchase

• Stock soars on news of CEO share purchase
• Regional casino operator extends Lee’s contract through June 2030

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The performance of shares in Full House (NASDAQ: FLL) jumped by 18.10% amidst strong trading volume following a regulatory document that revealed a significant transaction involving a casino operators leadership. This surge follows a Form 4 filing with the SEC, detailing the purchase of 276,300 shares in two separate transactions on June 13, totaling over $1.3 million. With the average buying price set at $4.75, this significant purchase is particularly noteworthy against the current share price of $3.85.

Additionally, Lee, who is also known for his ties to Rep. Susie Lee (D-NV), had his contract with Full House extended through June 14, 2030. His annual base salary of $700,000 is competitive within the industry, positioning him in the 50th percentile among other CEOs in similar roles. His new contract includes performance-based bonuses tied to critical milestones, such as relocating an Indiana casino license.

If the company succeeds in obtaining all necessary governmental approvals to relocate the Rising Star Casino license, Lee will receive a bonus of $300,000 in line with developments associated with the relocation.

Earlier this year, Indiana lawmakers introduced a bill that permits Full House to relocate the Rising Star Casino to New Haven, which would place it closer to Fort Wayne, the state’s second-largest city. This strategic relocation could potentially enhance the casino’s performance.

Lee’s Buys Could Restore Confidence in Full House Stock

Insider buying often serves as an important indicator for investors, suggesting that those within the company believe the stock’s value will rise. Such transactions can help bolster investor confidence—a particularly needed sentiment when considering that Full House’s stock has decreased by 19.57% over the past year and 7.35% year-to-date. Full House is not isolated in facing challenges, as many small-cap regional casino operators have reported similar declines throughout 2025.

Lee’s Interests Aligned with Full House Investors

In light of recent stock performance, it’s understandable that investors might feel frustrated. However, there are signs indicating that Lee’s interests align with those of shareholders. His updated employment agreement features performance-related conditions tied to the company’s earnings before interest, taxes, depreciation, and amortization (EBITDA), along with free cash flow growth.

Restricted stock grants are connected to anticipated growth metrics, establishing a concrete performance framework. For this financial year, a compound growth rate of 12% for Free Cash Flow Per Share is anticipated, with subsequent years expected to maintain reasonable growth projections.

In summary, Dan Lee’s recent stock purchases and renewed contract have infused confidence into Full House’s investors, who are eager to see improvements in stock performance and strategic maneuvers that may help the company rebound from its current issues. With an optimistic analyst outlook and robust strategic planning, the future remains hopeful for this regional casino operator.

The Dark Side of Casino Operations: Pete Simones Legacy and the Mob Underboss Behind Las Vegas Gambling

• Kansas City Mob figure dies at home, age 79
• Simone linked to Midwest gambling and Vegas junkets
• Mob’s decline reportedly leaves fewer than 10 active “made” members

The passing of Peter “Las Vegas Pete” Simone at age 79 marks the end of an era for organized crime in the Midwest. As a reputed underboss of the Kansas City Mob for over three decades, Simone’s influence extended far beyond local territories, deeply impacting the landscape of large-scale casino operations. He was a central figure in the criminal underworld, specializing in orchestrating high-stakes junkets from various Midwestern cities to Las Vegas, effectively bridging the gap between regional syndicates and the gambling industry.

Simone’s life was marked with connections to the Civella crime family, which boasted significant casino interests in Nevada throughout the 1970s and 1980s. Key properties like the Tropicana, the Fremont, the Stardust, and the Hacienda were often thought to be influenced by him.

His rise to power coincided with the Kansas City Mob’s peak, during which time the organisation became a central player in a nationwide scheme exploiting untaxed profits from Las Vegas casinos.

While Simone’s name never appeared in pivotal court documents tied to the notorious casino skimming cases of the early 1980s, his associations with significant mob figures—namely the Civella brothers, Nicholas and Carl—were undeniable. The brothers faced allegations of fraud, tax evasion, and RICO charges, although Nicholas passed away before any convictions could take place.

Mafia Junkets

Affectionately dubbed “Las Vegas Pete,” Simone was notable for orchestrating high-stakes gambling junkets to Las Vegas from cities like Kansas City, Chicago, Milwaukee, and Cleveland. These ventures weren’t merely for entertainment; they served as a vital mechanism for shifting funds and influential individuals into and out of Mafia-affiliated casinos.

His storied career took a hit when he was incarcerated in 1992 for four years due to illegal bookmaking, video poker operations, and money laundering.

Mob Hit

Upon his release in 1997, Simone found himself barred from entering any Missouri casinos, a decision stemming from his lengthy criminal history. Just two years later, he was sent back to prison after violating his parole when caught playing craps at Harrah’s casino in North Kansas City.

Simone was also cited as an unindicted conspirator in a mob hit targeting a bar owner who had cooperated with federal investigators looking into gambling operations. His choice to invoke the Fifth Amendment during the investigation allowed him to avoid self-incrimination.

The Kansas City mob has since diminished significantly, with estimates suggesting that fewer than ten active “made” members remain, following a spate of federal prosecutions that disrupted their operations in the 1980s.

Despite his nefarious reputation, Simone’s life serves as a stark reminder of the once-formidable presence of organized crime in America, particularly within the sphere of gambling. His legacy raises numerous questions about the future of such syndicates in a rapidly changing world.

To sum up, Peter “Las Vegas Pete” Simone’s passing marks the end of an era for the Kansas City Mob and highlights the long and complicated relationship between organized crime and the casino industry in the United States. His story embodies the highs and lows of a life steeped in controversy, crime, and the allure of the Las Vegas lifestyle.

Bet365 Could Bid for Open New York Sports Betting License

• License opening due to Resorts World Bet’s exit at the end of June
• New York represents one of the largest markets Bet365 has yet to tap into

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Bet365 is considering a bid for an online sports betting permit that will soon become available in New York, a major market for sports betting where the British bookmaker currently does not operate.

This opportunity arises from the recent exit of Resorts World Bet, an online gaming application owned by Genting. The operator has advised customers to withdraw their funds by June 22, ahead of shutting down its New York operations on June 30. As of now, Resorts World Bet has ceased accepting bets.

OSGA has indicated that Bet365 could face competition for the license from other contenders such as Hard Rock Bet and Underdog Fantasy Sports. However, as of now, none of these companies have officially declared their interest in the Resorts World Bet license.

Why This Move Makes Sense for Bet365

Recently, Bet365 has initiated online sports betting operations in Illinois and Tennessee, with plans to enter the Missouri market later this year. In addition to those states, Bet365 is already operational in Arizona, Colorado, Indiana, Iowa, Louisiana, New Jersey, North Carolina, Ohio, and Virginia. New York is not on this list, but entering the market could be advantageous.

Speculations suggest that Bet365 might be preparing for a significant company sale or a US IPO (Initial Public Offering). Reports indicate that the company is looking for a valuation of between $10 billion and $12 billion, making access to the New York market potentially a significant asset.

While no sportsbook is currently profitable in New York, it’s seen as vital for any major operator to have a legal presence there, reflecting on the $22.7 billion sports betting handle in 2024, which continues to grow.

The OSGA report also mentioned that Bet365 has indicated willingness to match the $25 million that Penn Entertainment paid for its New York license, indicating strong intentions to enter the market.

Competition in the New York Market

Despite being the dominant players in the New York online sports betting market, DraftKings and FanDuel have established significant barriers to profitability given the state’s 51% tax rate. This makes New York a market that is essential for sportsbooks, implying that if Bet365 pursues the Resorts World Bet permit, it may not be alone in the quest.

Moreover, as stated by the OSGA, Hard Rock Bet and Underdog Fantasy Sports could also submit bids. Historically, regulators in New York have been straightforward regarding the evaluation process, focusing on applicants’ experience and financial viability rather than giving preferential treatment.

In summary, the potential bid from Bet365 for the New York sports betting license represents a strategic move into one of the largest and most lucrative markets in the country, which could significantly enhance its market position as the gaming landscape evolves. With some competition looming, it will be interesting to see how this unfolds.

Casino Association of New Jerseys Fight Against Kalshi and the Future of Sports Betting

In an important move that touches upon the future of sports betting markets, the Casino Association of New Jersey (CANJ), representing nine Atlantic City casinos, has filed an amicus brief to support the state’s appeal against a preliminary injunction that allows the prediction markets firm, Kalshi, to continue its operations within the state. This action, which impacts the regulatory framework surrounding sports betting, represents a growing coalition of stakeholders, including the American Gaming Association (AGA) and others, opposing the practices of prediction market operators in the context of the broader gambling industry.

Key Highlights

• CANJ supports the state’s appeal against Kalshi’s injunction.
• Increased collaboration among groups filing amicus briefs against Kalshi.
• Similar legal measures have already been initiated in Nevada.

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Kalshi currently operates a platform where users can engage in trading yes/no derivatives contracts. After receiving a cease-and-desist order from the New Jersey Division of Gaming Enforcement in March, Kalshi was awarded a preliminary injunction that allows it to continue its activities. The amicus brief argues that the operations of Kalshi, which include sports derivatives contracts in states where sports betting hasn’t been legalized, infringe upon state gaming laws.

Joining the support for legal action against Kalshi are various groups, including anti-predatory gaming entities and state and tribal casino operators. This coordinated effort follows actions taken by other states to regulate the operations of prediction market companies, essentially viewing them as an extension of sports betting.

Background on the Legal Actions

The legal landscape around sports betting has been evolving rapidly. Recently, states like New Jersey have sent cease-and-desist letters, claiming that Kalshi is operating without pertinent gaming licenses, thereby flouting state laws. The CANJ noted in their brief:

“Stripping away the semantics, this case most directly concerns gambling on sports. Kalshi is offering online sports betting through event contracts in states where such activity is not legal, directly impacting existing lawful sports wagers.”

Comparative Actions and Precedents

The CANJ’s action is not unprecedented; earlier this month, the Nevada District Court permitted the Nevada Resort Association to intervene in a similar case against Kalshi. A District Judge proclaimed that Kalshi’s success could disadvantage local casino operators by allowing it to bypass state regulations regarding gaming.

“Kalshi’s case may create a precedent that leads to significant changes in competitive dynamics among licensed operators,” remarked a legal expert involved in gaming law.

Kalshi’s Position on Federal Regulation

Kalshi is leveraging its federal regulation, which places it under the jurisdiction of the Commodities Futures Trading Commission (CFTC) due to its handling of derivatives. Its argument rests on the premise that federal law should supersede state regulations regarding derivative contracts.

During an April conference, Kalshi’s co-founder, Tarek Mansour, stated:

“While states like Kansas may not allow grain futures trading, federal laws permit these activities regardless, suggesting we operate within the same framework”.

State Rights and Gambling Regulation

However, CANJ’s brief contends that the right of states to regulate gambling is not negated by federal law. They argue that several provisions in the Commodity Exchange Act ensure that state law takes precedence regarding the regulation of sports gambling:

“Nothing in the Commodity Exchange Act’s language clearly signals that Congress was trying to strip the states of their traditional power to regulate sports gambling.”

Conclusion

The ongoing legal battles between prediction market operators like Kalshi and state authorities highlight the complex interplay between state and federal regulations in the gambling landscape. With more states joining New Jersey in challenging these operations, how the courts decide could significantly shape the future of both sports betting and prediction markets in the US.

This evolving situation serves as a critical reminder for stakeholders in the gaming industry to stay abreast of developments that could impact their operations and regulatory compliance.