The Luxe

How to play The Luxe

Just like in the gambling industry, there are plenty of conferences and events revolving around Bitcoin SV, although they’re slightly tamer ;-).

CoinGeek Conferences – These are Calvin Ayre events, you can be sure to receive maximum information with minimal marketing pitches and a wee bit-o-fun thrown in. All of the conferences are recorded so you can watch all or just the topics that interest you. Here are a few conference videos that would be of interest to the gambling industry broken down by topic: iGaming, eSports, Marketing Technology, and Supply Chain Management. 

Bitcoin SV Webinars – The Bitcoin Association holds regular webinars of varied levels of information on topics of varied interests. They have primarily focused on building new solutions and offer those in attendance a good window into a few of the things that are possible.

What is The Luxe?

Two blockbuster developments in the casino space earlier this year seemed to indicate an increasingly bullish bet on the sector, including Fertitta Entertainment’s acquisition of Caesars Entertainment in May. The other is a subsequent takeover offer of MGM Resorts from its largest shareholder, Barry Diller’s People Inc. But a negative shift in market conditions could affect both deals.

In July, Fertitta’s General Counsel Steven Scheinthal told the Nevada Gaming Control Board that the company had a letter of intent from banks to finance the transaction but was waiting for better borrowing conditions. Fertitta is assuming nearly $12 billion in Caesars’ debt and is committed to a $6.6 billion financing package.

“Our hope is that in the next few months there will be a window of opportunity where the market will be hotter and [it’s] a more interest rate friendly environment where we can go raise the money and then just put it in an escrow account,” Scheinthal said at the time.

How to play The Luxe

The law came at the request of Full House Resorts, the Las Vegas-based regional gaming operator that expressed interest in relocating its Rising Star Casino in Rising Sun to a more attractive market, specifically in the northeastern part of the state.

During the lawmaking process, Full House’s exclusivity was stripped in favor of welcoming any company currently licensed as a commercial casino in the US to bid on the possible license. Lawmakers also threw in a one-time $150 million fee for the concession and a mandatory investment minimum of $500 million, all but ending Full House’s interest.

“The bill changed many times. We make money in Rising Sun. We always have, not a lot of money, but we make money. We continue to make money in Rising Sun. And we will continue to do that for our shareholders, as well as for the good of the state,” Full House CEO Daniel Lee said in March.