Resurrecting Riches

About Resurrecting Riches

A fraudulent ad directing consumers to an unlicensed offshore operator highlights the exact issue Alberta sought to address by adopting an Ontario-style regulated iGaming model.

Dale Nally, Minister of Service Alberta and Red Tape Reduction, has repeatedly emphasized that the primary objective of launching the province’s regulated market on July 13 was to offer consumers safe alternatives to illicit offshore sites operating out of jurisdictions like Malta and Curaçao.

“Standing still was not the responsible choice,” Nally said when the market launched. “Albertans were already gambling. What we’re putting in place is a regulated market that will put player safety and player responsibility first.”

About Resurrecting Riches

In July, Fertitta’s General Counsel Steven Scheinthal told the Nevada Gaming Control Board that the company had a letter of intent from banks to finance the transaction but was waiting for better borrowing conditions. Fertitta is assuming nearly $12 billion in Caesars’ debt and is committed to a $6.6 billion financing package.

“Our hope is that in the next few months there will be a window of opportunity where the market will be hotter and [it’s] a more interest rate friendly environment where we can go raise the money and then just put it in an escrow account,” Scheinthal said at the time.

That window Scheinthal had hoped for seems to be moving further away. Caesars’ proxy filing showed that even during negotiations in the spring, Fertitta refused to go above its $31-per-share offer “due to higher financing costs and increased macroeconomic risks”. From the end of 2025 to late April of this year, higher borrowing costs had resulted in “approximately $40 million per year in additional costs from when the process started”, the filing said.

What is Resurrecting Riches?

In the old model, Grenstad says, the product owner decided what to build, the developer decided how to build it, QA tested it and operations eventually handled the release.

As discussed last month, QA has become part of the process rather than a final stage. Product engineers consider from the planning stage what can be automated and what needs manual testing, while QA specialists now strengthen automation and identify gaps in coverage.

The responsibility for a piece of work increasingly extends from identifying the problem to building, releasing and measuring the result.