Latest news with #IGB
The Star
27-05-2025
- Business
- The Star
IGB's quarterly revenue grows to RM499mil
PETALING JAYA: IGB Bhd is maintaining a prudent yet hopeful outlook for its financial performance this year, outlining planned strategies that include continued focus on tenant engagement and phased asset enhancement initiatives for its commercial segment. For the first quarter ended March 31, 2025 (1Q25), the owner and developer of Kuala Lumpur's popular Mid Valley Megamall reported net profit declined by over 50% to RM89.1mil, despite revenue growing by 19.9% to RM499.4mil. The group explained that the lower net profit was primarily due to a one-off RM108.7mil land sale contribution recognised in 1Q24. Excluding this one-off, IGB said pre-tax profit would have increased by 18% compared to 1Q24. The group said the jump in turnover was largely supported by stronger contributions across all business segments, particularly retail and property development. Earnings per share for 1Q25 stood at 6.71 sen.
Yahoo
16-05-2025
- Yahoo
Illinois casinos required to offer human trafficking training
CHICAGO (WMBD) — New administrative rules made by the Illinois Gaming Board will require all casinos within the state to conduct mandatory human trafficking recognition training. The rules will also mandate the development and the documentation of human trafficking training and reporting procedures, as well as posting human trafficking awareness notices. Casino Rule 3000.175 is now effective, following the May 2 approval from the General Assembly's Joint Committee on Administrative Rules. The new rule includes the following requirements: All casino employees must complete annual human trafficking training with their initial training being completed within the first three months from the start of their employment. This training will include information on what makes an individual susceptible to human trafficking, the different types of human trafficking, red flags that indicate trafficking as well as agencies that provide services to victims of trafficking. Each gaming licensee must maintain records reflecting this requirement. Casinos must establish and implement employee procedures for documenting, reporting, and responding to suspected instances of human trafficking within gaming and non-gaming areas. Casinos must also provide copies of human trafficking curriculum and protocols to the IGB Administrator. Casinos must post human trafficking awareness notices with hotline telephone numbers and other important information including where to seek help or report instances of trafficking. Notices must be placed in bathrooms, near public entrances, and in other visible locations, consistent with notices developed by the Illinois Department of Human Services in compliance with the Human Trafficking Resource Center Notice Act (775 ILCS 50/10). The full rule is available here.1 'Human traffickers often target casinos and hospitality venues to conduct their illegal activities,' said Marcus Fruchter, the gaming board's administrator. 'By adopting mandatory human trafficking recognition training, establishing minimum requirements for that training and requiring casino operators to implement appropriate reporting and signage protocols, the IGB, while working in partnership with the Illinois State Police and other law enforcement agencies, is taking meaningful steps to combat these heinous crimes.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
16-05-2025
- Yahoo
Illinois Gaming Board's new rules on human trafficking and casinos
CHICAGO, Ill. (WTWO/WAWV)— The Illinois Gaming Board (IGB) has created new rules for casinos across Illinois to combat human trafficking. The new rules put into place will now require casinos statewide to conduct mandatory human trafficking recognition training, develop, document, and implement human trafficking training and reporting procedures. Once these procedures are put in place, they will provide a report to the IGB. The new rules will also require casinos to post human trafficking awareness notices. The notices will be posted in bathrooms, near public entrances, and in other visible locations. The notices will include hotline contact numbers and other important information like where to seek help or report instances of trafficking. 'Human traffickers often target casinos and hospitality venues to conduct their illegal activities,' said IGB Administrator Marcus D. Fruchter. 'By adopting mandatory human trafficking recognition training, establishing minimum requirements for that training, and requiring casino operators to implement appropriate reporting and signage protocols, the IGB, while working in partnership with the Illinois State Police (ISP) and other law enforcement agencies, is taking meaningful steps to combat these heinous crimes.' The new rules were implemented after approval from the General Assembly's Joint Committee on Administrative Rules on May 2. These rules will require employees of the casinos to take the training within three months of beginning employment. The training will cover topics such as things that might make an individual more susceptible, the different types, red flags to look for, and agencies to contact on human trafficking. 'Human trafficking is one of the most underreported and under-identified crimes,' said ISP Director Brendan F. Kelly. 'Because human trafficking can come in many forms and can happen almost anywhere, it is important to train people working in industries targeted by human traffickers to recognize the signs so they can report the crimes and help save lives.' The full wording of the new rules can be viewed here. While the Indiana Gaming Board has no such rules for its casinos, House Bill 1416 was just passed on May 6 requiring safety rest areas, gas stations, and welcome centers to display human trafficking awareness information, and permits massage establishments to display human trafficking awareness information. 'This bill is a great first step in curbing human trafficking in our state. … If having these posters on display in our gas stations and rest areas can save just one life, it's worth it,' said Rep. John Barlett (D-Indianapolis). Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
14-05-2025
- Business
- Yahoo
Bally's Chicago gets green light from Gaming Board to resume construction
The Illinois Gaming Board has given Bally's Chicago the green light to resume building its permanent casino after a two-week stop work order over an unauthorized waste hauler at the River West site. Construction is expected to start up again Thursday on the planned $1.7 billion casino complex at the former Tribune printing plant site, with a refined vendor vetting process in place, the Rhode Island-based casino company said. 'We were informed today by IGB that construction on the Bally's site will begin on Thursday, May 15th,' Bally's Chairman Soo Kim said in a statement Wednesday. 'We appreciate the collaboration and support of IGB throughout this process and look forward to delivering this project to Chicago.' Work ground to a halt May 1 after the Gaming Board discovered that the construction project was using an unauthorized subcontracted waste hauler previously alleged to have had ties to organized crime. D&P Construction, a Melrose Park company that provided dumpsters used at the 30-acre site, was hired by the Chicago Community Builders Collective, a minority-led general contracting partnership constructing the permanent casino complex. The dumpsters were removed May 2, and following an investigation, the Gaming Board said Wednesday that Bally's Chicago agreed to full vendor disclosure, satisfying the agency's concerns enough to move forward with construction. 'Presently, no vendors are working on the casino construction project without IGB approval,' the Gaming Board said in a statement. 'Bally's addressed the disclosure failures. It has disclosed, and assured the ongoing disclosure of, all proposed vendors to the IGB.' In 2005, D&P's alleged ties to organized crime were among the factors cited in a Gaming Board investigation that led to the license revocation of the proposed Emerald Casino in Rosemont, where the construction firm did work at the planned casino site. The license went instead to Rivers Casino Des Plaines, which launched in 2011 and grew to be the state's top-grossing casino. D&P's involvement in the Bally's Chicago site cost the casino company two weeks of construction time, but not the license to build what will be the largest casino in the state on the sprawling industrial site along the Chicago River. In May 2022, Rhode Island-based Bally's was selected to build the Chicago casino, besting finalists Rivers Casino and Hard Rock with a proposal that includes an exhibition hall, a 500-room hotel, a 3,000-seat theater, 10 restaurants and 4,000 gaming positions. Demolition of the Freedom Center printing plant was completed earlier this year. In February, Bally's began driving foundational caissons into the ground, with executives targeting a September 2026 opening for the permanent casino. Bally's, which has been operating a temporary casino at Medinah Temple since September 2023, was ranked fifth among the state's 16 full casinos with $11 million in adjusted gross receipts last month, according to data from the Gaming Board. Rivers Casino Des Plaines was once again the state's top casino in April with $43.9 million in adjusted gross receipts, followed by newcomer Wind Creek Chicago Southland, which hit a new high with $17.1 million in revenue, according to Gaming Board data. Wind Creek, owned by the Poarch Band of Creek Indians, launched in its permanent 70,000 square foot casino in south suburban East Hazel Crest in November. Last month, it opened a 255-room hotel. rchannick@
Chicago Tribune
14-05-2025
- Business
- Chicago Tribune
Bally's Chicago gets green light from Gaming Board to resume construction
The Illinois Gaming Board has given Bally's Chicago the green light to resume building its permanent casino after a two-week stop work order over an unauthorized waste hauler at the River West site. Construction is expected to start up again Thursday on the planned $1.7 billion casino complex at the former Tribune printing plant site, with a refined vendor vetting process in place, the Rhode Island-based casino company said. 'We were informed today by IGB that construction on the Bally's site will begin on Thursday, May 15th,' Bally's Chairman Soo Kim said in a statement Wednesday. 'We appreciate the collaboration and support of IGB throughout this process and look forward to delivering this project to Chicago.' Work ground to a halt May 1 after the Gaming Board discovered that the construction project was using an unauthorized subcontracted waste hauler previously alleged to have had ties to organized crime. D&P Construction, a Melrose Park company that provided dumpsters used at the site, was hired by the Chicago Community Builders Collective, a minority-led general contracting partnership constructing the permanent casino complex. The dumpsters were removed May 2, and following an investigation, the Gaming Board said Wednesday that Bally's Chicago agreed to full vendor disclosure, satisfied the agency's concerns enough to move forward with construction. 'Presently, no vendors are working on the casino construction project without IGB approval,' the Gaming Board said in a statement. 'Bally's addressed the disclosure failures. It has disclosed, and assured the ongoing disclosure of, all proposed vendors to the IGB.' In 2005, D&P's alleged ties to organized crime were among the factors cited in a Gaming Board investigation that led to the license revocation of the proposed Emerald Casino in Rosemont, where the construction firm did work at the planned casino site. The license went instead to Rivers Casino Des Plaines, which launched in 2011 and grew to be the state's top-grossing casino. D&P's involvement in the Bally's Chicago site cost the casino company two weeks of construction time, but not the license to build what will be the largest casino in the state on a 30-acre site along the Chicago River. In May 2022, Rhode Island-based Bally's was selected to build the Chicago casino, besting finalists Rivers Casino and Hard Rock with a proposal that includes an exhibition hall, a 500-room hotel, a 3,000-seat theater, 10 restaurants and 4,000 gaming positions. Demolition of the Freedom Center printing plant was completed earlier this year. In February, Bally's began driving foundational caissons into the ground, with executives targeting a September 2026 opening for the permanent casino. Bally's, which has been operating a temporary casino at Medinah Temple since September 2023, was ranked fifth among the state's 16 full casinos with $11 million in adjusted gross receipts last month, according to data from the Gaming Board. Rivers Casino Des Plaines was once again the state's top casino in April with $43.9 million in adjusted gross receipts, followed by newcomer Wind Creek Chicago Southland, which hit a new high with $17.1 million in revenue, according to Gaming Board data. Wind Creek, owned by the Poarch Band of Creek Indians, launched in its permanent 70,000 square foot casino in south suburban East Hazel Crest in November. Last month, it opened a 255-room hotel. rchannick@
