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Bally's River West Resort - Casino in Chicago, USA?
Rhode Island-based Bally's appears to be the last casino up for consideration in the Windy City of Chicago.
Alderman Pat Dowell announced on Monday she "cannot support” Hard Rock International’s plan to open a casino as part of the proposed mega-development in her ward, citing neighbors’ fears over crime and the potential for overcrowding.
Bally's is the only proposal left on the table. That company is looking to develop a casino resort in the River West section of the city. The alderman there has not come out against a gambling site in the ward.
City leaders are looking to tap revenue from the eventual casino to fund Chicago's pension obligations.
“I believe a casino will support the growth and prosperity of the City by adding a sought-after destination amenity to Chicago’s already world-class tourism and hospitality offerings,” Dowell wrote in her statement. “I know first-hand how vital a casino is to the City’s bottom line. The revenues from a Chicago casino will go a long way towards ensuring we meet our obligations to the Police and Fire pension funds.”
But she added that city leaders must balance the “positive aspects of each casino proposal” against “the needs and wishes of the existing community.”
“The Hard Rock Casino at ONE Central would be dropped into an existing, well-established family community in the Prairie District of Chicago’s South Loop,” Dowell wrote. “Because of that, I have concerns about the density of the Hard Rock Casino proposal.”
OpenSea Delists Sands Vegas Casino Club NFTs after Cease & Desist Orders
OpenSea Delists Sands Vegas Casino Club Gambler NFTs.
This month two U.S states issued cease-and-desist orders to Sands Vegas Casino Club for NFT sales.
Sands Vegas Casino Club reportedly sold NFTs to fund a Metaverse casino, classifying them as securities.
It has been a mixed year for leading NFT marketplace OpenSea. In January, OpenSea saw trading volumes hit a record high before a sharp decline through February and March.
NFT market conditions have improved in April, with OpenSea Ethereum (ETH) based NFT trading volumes already sitting above March levels.
According to Dune Analytics, Ethereum-based NFT trading volume for April sits at $2.68bn with a week to go. For March, trading volumes stood at $2.49bn.
With NFT market conditions improving, OpenSea appears to be taking a more cautious approach to avoid regulatory fallout.
OpenSea Delists Sands Vegas Casino Club NFT Sales
This week, OpenSea suspended the sale of Sands Vegas Casino Club Gambler Ape NFTs. This time last week, OpenSea continued to allow the trading of the Gambler NFTs despite regulatory action against the virtual casino.
According to the Sand Vegas roadmap, Sand Vegas Casino acquired 27 plots in Sandbox in January 2022. The virtual casino aimed to meet all regulatory/legal requirements between March and August 2022.
The OpenSea Help Center states that it delists NFTs if it determines the NFT to:
The delisting will cut a funding source for the virtual casino.
Owners of the Gambler NFTs purportedly share in half the casino profits generated.
The OpenSea delisting follows the cease & desist orders from the states of Texas and Alabama.
While the casino website is still up and running and states that the SVCC NFTs are sold out, the Twitter account @sandsvegascasino no longer exists.
Alabama and Texas Issue Sands Vegas Cease-and-Desist Orders
This month FX Empire reported on Alabama and Texas issuing Sands Vegas Casino Club with cease-and-desist orders.
The two states said that the online casino sold NFTs to fund operations. According to the state laws of Alabama and Texas, the NFTs constituted an illegal securities offering.
The Texas State Securities Board press release stated that the virtual casino offered,
“11,111 Gambler NFTs in connection with their development metaverse casinos in popular metaverses such as the Sandbox (SAND), Decentraland (MANA), Infinity Void, and NFT Worlds.”
The press release went on to say,
“Gamblers, acting through avatars, can enter the metaverse casino and play poker and other games using cryptocurrencies. Purchasers of the Gambler NFTs profit from these operations. Not only do they become owners of the metaverse casinos, but they also purportedly share in half the profits generated.”
Global Gaming Directory Blog: Australian gaming operators are closely monitoring crypto betting platforms as they sign major deals in the UFC and football.
Australian gaming operators are closely monitoring crypto betting platforms as they sign major deals in the UFC and football.