Palms casino sale completed; Pokerstars owner expanding into Italy, among others

Live! A casino in Orlando, the reopening of the Las Vegas-based Palms and the purchase of two separate online gambling companies in the US and Italy are just some of the news CardsChat reported in the poker world this week.

New casino coming to Orlando

A Florida billionaire is teaming up with The Cordish Companies to turn the ancient Jai lai gable into a casino and poker room in suburban Orlando.

RD Management New York president Richard Berdoff, who owns 40 acres of land around the Fronton building and the building itself, wants to include a poker room and Live! Casino and plans for flats, flats, retail and office space in the Fern Park area of Florida.

Live! Seminole County voters must approve Oxford Centre's proposals in a referendum. In the coming months, lawyers for The Cordish Company and RD Management will be seeking county officials to put their vote on the ballot for the November general election. According to the Orlando Sentinel, RD Management bought the dilapidated land for $2.5 million in 2010 and submitted plans to the county to redevelop it with 1,100 flats and 72,000 square feet of commercial space.

The county was hesitant to repair the water and sewer lines needed to manage such a massive expansion, so the plans stalled. Cordish companies own or operate several entertainment venues and casinos across the country, including the new Live! Casino Poker Room south of Pittsburgh, which opened last week.

In other developments, the Nevada Gaming Commission has allowed Red Rock Resorts to sell The Palms to the San Manuel Gaming and Hospitality Authority for $650 million. The deal was finalised during a meeting held this month.

It has been closed since last March and will reopen by February or March next year, according to a company spokesperson.

The deal was struck by the San Manuel Gaming and Hospitality Authority in May this year. The authority is controlled by the San Manuel Indian Missionary Gang. The company also owns and operates the Yaamava Resort and Casino in San Manuel, which was formerly known as San Manuel Casino. The name was changed in the autumn following a facelift. Following Thursday's decision, the San Manuel Indian Missionary Gang will become the first Indian tribe to operate a casino in Las Vegas.

Sisal, the Italian gaming company bought by Flutter

Flutter Entertainment, the parent company of Poker Stars, last week acquired retail and online gambling giant Sisal for $2.2 billion. Combined with Flutter's current online presence in Italy through Betfair and PokerStars, the purchase gives the business a 20 per cent stake in the  industryc casino without license Italy. Sisal had revenues of $280 million in 2021, of which 58 per cent came from online services and the rest from lottery and retail. According to CVC Capital Partners Fund IV, all but 10 per cent of revenues were generated in Italy. Since 2016, Sisal's online revenues have increased at an average annual rate of 34 per cent.
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