As the legality of whether or not Kalshi and other prediction markets can offer sports betting heads toward a final determination by the U.S. Supreme Court, the company continues to find ways to stay relevant to Las Vegas.

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Your eyes weren't deceiving you.

The logo for prediction market Kalshi was prominently displayed on the dasher boards along the ice inside T-Mobile Arena during last week's NHL playoff games with the Utah Mammoth televised on ESPN.

That image prompted an email from a reader wondering why the prediction market, recently banned by a Nevada judge from operating in the state because the company was considered an unlicensed sportsbook, was being promoted on her television screen. 

As players scrambled for control of the puck, Kalshi's name was clearly visible.

But if you were one of the 18,000-plus fans inside T-Mobile, you didn't see that image. It's a made-for-TV campaign. 

Last fall, the NHL struck multiyear agreements with Kalshi and Polymarket as the league's official prediction market partners. In the October statement, the league said the companies would have "brand exposure" visible only to television viewers through placement of the companies' logos during NHL game broadcasts, including the Stanley Cup playoffs. 

Advertising messages inside T-Mobile are controlled by the team and the venue's operators — AEG and MGM Resorts International.

It's almost certain that Nevada Gaming Control Board Chairman Mike Dreitzer — a loyal fan of the Golden Knights — would place a call to MGM Resorts and the team if Kalshi's logo appeared inside the arena. Other NHL venues, not controlled by a gaming company, can have prediction market logos inside the arenas.

On Monday night, hockey fans were treated to the Golden Knights' 5-4 overtime victory against the Mammoth. Kalshi and Polymarket were also prominently featured on the ESPN telecast from Salt Lake City's Delta Center, a venue that resides in a state that is one of two in the U.S. that has banned all forms of gambling — casinos, sports betting, lotteries and horse racing.

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Cadence Crossing isn't finished growing yet

Boyd Gaming CEO Keith Smith told me last week the company isn't going to get ahead of itself when it comes to expanding the newly opened Cadence Crossing Casino in Henderson.

The small casino is little more than six weeks old. The 16-acre site along the Boulder Highway gives Boyd Gaming plenty of land for expansion, especially after the casino's predecessor, Joker's Wild, was quickly demolished.

"It sounds a little trite, but [expansion] will be very self-evident," Smith said of the 10,000-square-foot casino with 450 slot machines, two dining options, a center bar and a lounge. "As the business grows and as the community continues to grow, it will be very obvious to us that we need to expand."

The casino sits a few miles west of Henderson's Cadence master-planned community, which was ranked third in the nation for new home sales in 2025. Smith said progress on the residential development, which will eventually include 13,000 homes, would be the determining factor for adding more slot machines, a table game pit, another restaurant and eventually a small hotel.

"[The casino is] master planned for all of that. We just have to wait for the community to continue to grow around us," Smith said. 

Boyd, which operates 10 properties throughout the Las Vegas Valley, is focused on renovating and modernizing older resorts. A few years ago, the focus was on the Fremont Hotel and Casino downtown. An extensive remodeling and modernization of the Suncoast, which began last year, is expected to last through the fall. The company will then turn its attention to a similar effort at The Orleans, which will begin in 2027.

Unlike Red Rock Resorts, its top competitor in the Las Vegas locals gaming market, Boyd isn't sitting on more than 400 acres of developable gaming sites in Southern Nevada. Instead, the company has land surrounding its existing casinos — Orleans, Suncoast and Gold Coast — that Smith said "could be repurposed to something more productive."

Outside of Nevada, Boyd has 18 properties in 10 states. It also operates and is expanding a tribal casino near Sacramento, California. Southern Nevada accounted for roughly one-fourth of the company's nearly $1 billion in revenue in the first three months of 2026.

In the last couple of years, Boyd overhauled its New Orleans-area casino and added convention space to its property near St. Louis. The company is now focused on renovating its casino in Peoria, Illinois.

"There'll be opportunities for us, once again," he said about buying land in Southern Nevada. "It's just as productive to leverage an existing asset and add to it as it is to build a brand-new asset in a brand-new part of town."

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Reno casino operator's hard-line stance against debt frustrates investors. He might be softening.

Last year, I scored an exclusive interview with Monarch Casino & Resort CEO John Farahi, who owns Reno's Atlantis Casino & Resort and Monarch Casino Resort in Black Hawk, Colorado. 

He wants to expand, either buying an existing casino or building a resort in a new market. His caveat has always been not to take on any debt or go into a state with legal online casinos.

Online gaming remains a red flag. But in discussions with analysts earlier this month, Farahi softened his hard-and-fast rule against slapping any debt on his Reno-based company. That would be a marked change from his previous stance. 

However, he told investment analysts earlier this month the company might be willing to take on a small amount of debt that could be paid back quickly through cash flow in order to finance a deal. The company said revenue grew 9 percent in the first three months of 2026, but didn't break out the totals per property.

Truist Securities gaming analyst Barry Jonas told investors that speculation around a potential $7 billion buyout of Caesars Entertainment by billionaire Tilman Fertitta could mean the sale of several properties to avoid any federal antitrust implications.

"Management reiterated that it's open to non-gaming hospitality [acquisitions] as well, [but the] guidelines for a transaction remain the same," Jonas wrote in a research note. He said Monarch is "well-positioned" to pick off any of the properties if the Fertitta-Caesars deal happens.

In the meantime, Jonas suggested Monarch would buy back stock — the company prepurchased 181,000 shares for $17.6 million in the first quarter — which has increased in value more than 18 percent since the beginning of the year.

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What I'm reading

⚽ MLS owners talk potential Vancouver relocation, with Las Vegas a top option — Paul Tenorio and Tom Bogert, The Athletic

I'm not sure this will help restore Canadian visitation to Las Vegas.

⚾ In new book, A's Lew Wolff says 'despicable' Giants to blame for Athletics relocation — Evan Drellich, The Athletic

Wolff was the most publicly visible member of the team's ownership group for 10 years before John Fisher bought out his stake in 2015. "John Fisher gets blamed for things he doesn't deserve to be blamed for," Wolff wrote.

💵 'Long overdue' anti-money laundering rules adopted by Nevada casino regulators — David Danzis, Las Vegas Review-Journal

"We heard and saw loud and clear that there were, shall we say, limitations and concerns with AML." — Mike Dreitzer, chairman, Nevada Gaming Control Board

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News, notes and quotes

🏗️ Golden CEO: 'Significant plans' considered for closed Laughlin casino site

Golden Entertainment's $1.16 billion sale and leaseback deal with real estate investment trust VICI Properties is expected to close Thursday. The Nevada Gaming Commission signed off on the deal last week. But there were questions about the Colorado Belle, one of three Laughlin casinos operated by Golden. The riverboat-themed property has been closed since 2020. Combined with the Aquarius and Edgewater resorts, Golden controls 22 acres with 1,000 feet of frontage along the Colorado River. Golden CEO Blake Sartini said the company has "significant plans for that property." He touted the potential of the Laughlin market, which grew gaming revenue 10 percent in 2025. Sartini said it "would be logical to assume" that VICI, which will receive $87 million in annual rent from Golden, could have a role in financing a project for the location.

🏟️ A's Stadium site landlord considers funding the project's entertainment district

"We and Bally's [Corp.] will be discussing what level of investment above and beyond the $125 million, if any, will be appropriate from GLPI. But unfortunately, I don't think we have [a] much different answer right now. But I do think in the next six months, that will change."

— Brandon Moore, president, Gaming and Leisure Properties, on a quarterly conference call

💲Palms owner San Manuel continues its charitable efforts

The division of Southern California's San Manuel Indian Tribe that owns the Palms Casino Resort recently awarded a $500,000 grant to support the Clark County School District's Nevada Read With Me literacy program. Since 2019, the San Manuel Gaming & Hospitality Authority (SMGHA) has awarded $18 million in grants to the Las Vegas community and nonprofit programs. "Our ancestors faced impossible odds to get us to where we are today. We are grateful for the community partners who helped us envision a better future for our people, said SMGHA Vice Chairwoman Carla Rodriguez.