MGM hacker nabbed; Colorado tribes still excluded

Welcome to the Weekend Report, where IGB informs you of the stories you might have missed during the past several days.

Alleged MGM hacker detained in Spain
MGM confirmed in 2022 that there had been hacking of their loyalty program. The Spanish national police detained a man they thought to be engaged in the hack at Palma Airport on June 14. Reported Murcia Today, he was getting on a plane to Italy.

Per CyberNews, the Los Angeles field office of the FBI issued the arrest warrant for the 22-year-old UK national.

Allegedly hacking several big companies, Scattered Spider is the group behind the cyberattack. The individual arrested is said to have controlled $27m worth of BitCoin and hacked business accounts. Last October Caesars Entertainment was also hacked.

Colorado tribes are shunning digital wagering
The state's tribes still aren't live almost five years after Coloradans approved digital sports betting and four-plus years after launch. According to the Colorado Sun, the state has not been able to get the tribes on board on operational guidelines.

Funding for Colorado's water projects is at question. While tribal gaming has different regulations and the Mountain Ute and Southern Ute might not have to pay the state like commercial operators do, state sports betting income goes to fund such initiatives. The state worries about letting the tribes engage in digital sports betting and sports betting via kiosks since overall tax income could drop.

Colorado voters will have an opportunity in November to decide the maximum amount the state may earn from wagering. Although operators are likely to make more than $32m in tax income in the next fiscal year, there is now a $29m yearly cap.

US sports betting, online casinos rising steadily
The most recent Jefferies Capital estimate shows that gross gaming revenue (GGR) is up 30% while online sports betting handle is up 44% over last May. As of June 21st, eighteen states had recorded income figures.

With five states reporting, GGR is up 27% over last year and the stats for internet gambling are equally as favourable. FansDuel is still the market leader in both categories, according to Jefferies analysts. According to Jefferies, May is the fourth month FanDuel ranks as the top operator and the eighth month it is the most often used gaming brand.

Still want to live The Mirage? It won't be expensive.
With the Tropicana closed and The Mirage about to close on July 14, Truist Securities reported that Strip will have 4,500 less hotel rooms.

Although that would seem to indicate that hotel costs are rising, CDC Gaming Reports noted that Truist analyst Barry Jonas reported Mirage room rates for June and July dropped 44%-46% year over year. Jonas anticipates year over year flat third-quarter room rates.

Another name added to the investigation on election betting
The UK Gambling Commission has been asked to widen its inquiry to include third party bettors who might have made bets for politically exposed individuals (PEPs), following reports of another possible insider bettor on the election date before its disclosure in the national news.

Sky News quoted The fourth party candidate added to the investigation this weekend was conservative chief data officer Nick Mason. Mason denies any misconduct and reports to have taken a leave of absence.

Navajo Nation names fresh gaming chief.
John James has been named new CEO of Navajo Nation Gaming Enterprise (Navajo Gaming). James had a long experience running tribal casinos, most recently in Geyserville, California, as CEO for River Rock Entertainment Authority.

James will supervise activity at several sites, including the Navajo Blue Travel Plaza, Fire Rock Navajo Casino, Northern Edge Navajo Casino, Flowing Water Navajo Casino and Twin Arrow Navajo Casino Resort.