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Former Taj Mahal owner seeks millions in tax refunds

April 27, 2017

Latest Casino and Gambling News, Taxation, Bankruptcy, Fines, Lawsuits & Litigation, New Jersey

Former corporate raider and activist investor Carl Icahn recently filed tax appeals in New Jersey to dispute the assessed value of his recently sold Trump Taj Mahal and the derelict Trump Plaza in Atlantic City...

Macau junket promoter declared bankrupt

Lars Jones

March 24, 2017

Latest Casino and Gambling News, Macau, Bankruptcy

In September, beleaguered Macau junket investor Iao Kun closed three VIP rooms in the special administrative region. Two of the rooms were located on Galaxy Entertainment Group (GEG) properties; one at StarWorl...

New York asks DFS operators for proof of fund segregation

Alex Lanter

February 6, 2017

Latest Casino and Gambling News, Fantasy Sports, Bankruptcy, New York

Daily Fantasy Sports operators in New York were asked by the State Gaming Commission (NYSGC) to provide evidence of segregation of player funds from the funds they use to operate their businesses. The requests ...

Court approves Caesars bankruptcy plan to emerge in 2017 with $10 billion less debt

Lars Jones

January 18, 2017

Latest Casino and Gambling News, Las Vegas, Economy/Finance, Mergers, Acquisitions & Partnerships, Bankruptcy, Illinois

In a press relief noted for its brevity compared to the gravity lifted, Caesars Entertainment Corporation (NASDAQ: CZR) has seen its operating company's bankruptcy reorganization plan finally approved allowing ...

Polish subsidiary of Olympic Entertainment Group files for bankruptcy

Adam Morgan

January 4, 2017

Latest Casino and Gambling News, Casino closures, Economy/Finance, Bankruptcy, Poland

Eastern European casino operator Olympic Entertainment Group has announced that its Polish subsidiary has filed for bankruptcy protections following a late-September decision from the Finance Ministry not to ex...

Caesar’s Operating Arm Resolves Lender Disputes Over Bankruptcy Exit

Alex Lanter

December 26, 2016

Las Vegas, Latest Casino and Gambling News, Economy/Finance, Bankruptcy, Fines, Lawsuits & Litigation

Caesars Entertainment Operating Company – the operating arm of Caesar’s Entertainment Corp (CEC)., finally resolved their lender disputes Friday, leaving the door open for the long-awaited plan to save the comp...

Idaho horse racing on the rocks, racing commission with no spending authority

Lars Jones

December 15, 2016

Latest Casino and Gambling News, Horse Racing, Casino closures, Technology, Economy/Finance, Taxation, Idaho, Bankruptcy

A legislative audit earlier this week stated that the Idaho Racing Commission ran afoul of the law when it disbursed funds from the now shuttered Les Bois Park's historical/instant racing machines. The race tra...

Caesars Entertainment Corporation unit begins process of raising new financing

Adam Morgan

November 7, 2016

Latest Casino and Gambling News, North America Casino News, Economy/Finance, Mergers, Acquisitions & Partnerships, Bankruptcy

American casino giant Caesars Entertainment Corporation has begun the process of raising up to $3.8 billion that its Caesars Entertainment Operating Company Incorporated subordinate needs in order to finally ex...

Sarkis Izmirlian tells China EXIM Bank he can make a superior offer and open Baha Mar soonest

Lars Jones

October 12, 2016

Casino proposals, Latest Casino and Gambling News, Casino project updates, Bahamas, Economy/Finance, Bankruptcy, Fines, Lawsuits & Litigation

BMD Holdings Ltd., the former developer of $3.5 billion Baha Mar notified the Export Import Bank of China today that the company, headed up by Sarkis Izmirlian, is prepared to make an offer that is superior in ...

Trump Taj Mahal officially shuts down

Sadonna Price

October 10, 2016

Latest Casino and Gambling News, Casino closures, Economy/Finance, Bankruptcy, New Jersey

As of 5:59 a.m., on October 10, 2016, the Trump Taj Mahal became the 5th casino to shut down in Atlantic City, New Jersey since 2014. Almost 3,000 individuals are without jobs after billionaire owner Carl Icah...

Bahamas Supreme Court places seven Baha Mar companies into full liquidation

Renee Kingsley

October 5, 2016

Latest Casino and Gambling News, Casino project updates, Bahamas, Bankruptcy, Fines, Lawsuits & Litigation

The $3.5 billion Baha Mar casino resort in the Bahamas has been surrounded in controversy for the last couple of years as the project came to a halt after developer Sarkis Izmirlian faced financial troubles due...

Apollo, TPG agree deal with Caesars for restructuring; Insulates top execs

Lars Jones

September 28, 2016

Las Vegas, Latest Casino and Gambling News, World Casino News, Economy/Finance, Mergers, Acquisitions & Partnerships, Bankruptcy, Fines, Lawsuits & Litigation

The two top-tier creditors agreed Tuesday to Caesars Entertainment Corporation's (CEC) terms to restructure the company's debt, leaving about US$1 billion on the table in exchange for protecting top executives...

Caesars offers junior creditors another $1.6b

Alex Lanter

September 22, 2016

U.S.A., Latest Casino and Gambling News, Gaming Industry News, Bankruptcy, Fines, Lawsuits & Litigation

Caesars Entertainment has updated its initial offer to junior bondholders for another $1.6 billion. With the latest addition to the initial $4 billion, the offer goes over $5 billion; it is, however, valid only...

Caesars mediator resigns from case of operating arm’s bankruptcy

Adam Morgan

September 12, 2016

Latest Casino and Gambling News, North America Casino News, Bankruptcy, Fines, Lawsuits & Litigation

The $18 billion bankruptcy dispute between Caesars Entertainment Operating Company Incorporated and its creditors took another complex turn on Friday after the mediator tasked with resolving the issue resigned ...

Caesars Entertainment Corp gets reprieve till October 5 from bonds amounting to $11 billion

Renee Kingsley

August 31, 2016

Latest Casino and Gambling News, Bankruptcy, Fines, Lawsuits & Litigation

Caesars Entertainment Corp has succeeded in getting a temporary reprieve till October 5 from multiple lawsuits that amount to over $11 billion in claims. U.S. District Judge Robert W. Gettleman decided on Augus...

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Former Taj Mahal owner seeks millions in tax refunds

Macau junket promoter declared bankrupt

New York asks DFS operators for proof of fund segregation

Court approves Caesars bankruptcy plan to emerge in 2017 with $10 billion less debt

Polish subsidiary of Olympic Entertainment Group files for bankruptcy

Caesar’s Operating Arm Resolves Lender Disputes Over Bankruptcy Exit

Idaho horse racing on the rocks, racing commission with no spending authority

Caesars Entertainment Corporation unit begins process of raising new financing

Sarkis Izmirlian tells China EXIM Bank he can make a superior offer and open Baha Mar soonest

Trump Taj Mahal officially shuts down

Bahamas Supreme Court places seven Baha Mar companies into full liquidation

Apollo, TPG agree deal with Caesars for restructuring; Insulates top execs

Caesars offers junior creditors another $1.6b

Caesars mediator resigns from case of operating arm’s bankruptcy

Caesars Entertainment Corp gets reprieve till October 5 from bonds amounting to $11 billion

Major Money Laundering Crackdown in Singapore Tied to Online Gambling

Marina Bay Sands Pursues $9 Billion Loan for Resort Expansion

Bally’s Corporation Stockholders Ratify Strategic Merger with The Queen Casino

Tasmanian Government Delays Implementation of Cashless Pokies Card Amidst Controversy

Michigan Online Casinos Set $220.7M Revenue Record in October