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Earlier this year, the Illinois Gaming Board approved 65 VGT licence applications in the city, according to the Sun-Times. VGTs are the highest-grossing gaming vertical in Illinois, generating substantially more revenue and taxes than land-based casinos.

Papanier said the components of Bally’s Chicago that are being “reset and re-contemplated” are “all in conjunction with the proliferation of VGTs”. While the current number of licences is low, he asserted that widespread proliferation could result in a “30% to 50% impact on top-line revenue” for the casino and it would be “irresponsible” to continue construction “until we understand what the landscape looks like”.

Bally’s stock jumped 7% in trading on Monday to $9.84. Shares had fallen 30% in the last month in response to uncertainty in Chicago and warnings about the company’s ability to continue as a growing concern in its Q2 earnings report. Former CFO Mira Mircheva resigned on 4 September, prompting Papanier to take over the role on an interim basis.

How to play Lucky Coin

Operators were encouraged to take several practical steps, including enhancing terms and conditions, maintaining robust evidence and uptaking technical standards.

They have also been advised to thoroughly review their Know Your Customer, fraud detection protocols and contractual terms to reflect the guide’s recommendations. 

They must also evaluate their current technical safeguards to ensure alignment with regulator expectations and certification standards.

About Lucky Coin

When I joined CalvinAyre.com in August of 2009, there was an enormous gap in the industry for an honest, transparent news site with regular, fresh video content. Over time, we grew from a tiny team of a handful of people to dozens, providing the industry with the juiciest breaking news and cutting-edge video coverage. 

Today we pass on the torch to our event organizing and media production friends who have more recently developed outstanding news coverage and video teams dedicated to the gaming space, hopefully who I’ll be seeing at CoinGeek Conferences in the future.

Reflecting on my fateful words at EiG back in 2013, it was the entrepreneurial energy, the innovation and the excitement surrounding Bitcoin that originally drew me to it. Back then, the obsession about Bitcoin was not related to price, it was about the disruptive technology and this is what meant something to me. While a great deal has changed in Bitcoin between 2013 and now, the energy, innovation and excitement are all still there and I am looking forward to the next chapter of my career with Calvin Ayre and the Ayre Media team.