Economy/Finance

Last major hold out on Senior Caesar debt signs on

August 24, 2015

Latest Casino and Gambling News, Casino News, World Casino News, North America Casino News, Economy/Finance, Bankruptcy, Nevada, New Jersey

In a statement released Friday by Caesars Entertainment Group, an agreement for restructuring a major operating division within the company that filed bankruptcy six month ago, Caesars Entertainment Operating C...

Rank Group reports profit increase of 19 percent

Alex Lanter

August 24, 2015

Latest Casino and Gambling News, Economy/Finance, European Casino News, United Kingdom

Rank Group has increased its profit thanks to a rise in sales at both its land based bingo clubs and Internet gaming websites. The company that operates 58 casinos and 90 Mecca bingo clubs announced a pre-tax p...

Cruise ship numbers and profits rise for Genting Hong Kong

Alex Lanter

August 24, 2015

Latest Casino and Gambling News, Economy/Finance, Asian Casino News, Philippines

Genting Hong Kong Limited, a gaming operator that runs casino cruise ships as well as a casino gaming developer in the Philippines, recorded a net profit rise by 898 percent year-on-year in the first half of 20...

Rankin strengthening Crown’s position in Japan

D. Graham

August 23, 2015

Latest Casino and Gambling News, Gaming Law & Legislation, Casino News, World Casino News, Gaming Industry News, Economy/Finance, Japan, Asian Casino News, Macau

Rob Rankin, recently named Chairman of Crown Resorts Limited, has been investing significant time in Japan this summer meeting personally with political officials in a strong show of dedication and support. The...

Lower slot machine payouts hurting sales according to game makers

Sadonna Price

August 21, 2015

Latest Casino and Gambling News, U.S.A., Economy/Finance

Less betting is reportedly taking place within the United States when it comes to slot betting based on a report by the Association of Gaming Equipment Manufacturers. The report indicates that because operators...

Leisure and Resorts World Corp. reports increased first half net profit by 50%

Alex Lanter

August 21, 2015

Latest Casino and Gambling News, Economy/Finance, Asian Casino News, Philippines

Gaming company Leisure and Resorts World Corp (LRWC) reported an increased net profit by 50 percent to P454 million year-on-year in the first semester. In a press release on Tuesday, the company said that net p...

Melco Crown petitioned by Forefront of Macau Gaming to promote 1,000 employees

Renee Kingsley

August 20, 2015

Gaming Industry News, Economy/Finance, Employment & Careers, Asian Casino News, Macau, Labor Relations

The anti-corruption crackdown in Macau has caused a significant decline in casino revenue and as a result casinos have been forced to look at ways to bring down their overhead costs. A number of casinos have cu...

Delaware online revenues up, poker lowest since January

Alex Lanter

August 20, 2015

Latest Casino and Gambling News, U.S.A., Online Poker, Economy/Finance, Delaware

The Delaware Lottery announced the numbers of the US state’s online gaming revenues for the month of July 2015. The state reported a month-on-month online revenue growth for July even though the poker revenue c...

Galaxy profits fall 66% on turndown and poor luck

Alex Lanter

August 20, 2015

Latest Casino and Gambling News, Economy/Finance, Asian Casino News, Macau

Galaxy Entertainment Group reported a dramatic fall of revenues by 66% in the first half of 2015. The Macau casino operator, which was founded by billionaire Liu Che Woo, witnessed its net profit plunge by almo...

SLS Las Vegas suffers net loss of $48.6 million in second quarter of 2015

Alex Lanter

August 19, 2015

Latest Casino and Gambling News, U.S.A., Economy/Finance, Nevada

The SLS Las Vegas reported a net loss of more than $48.6 million in the second quarter of 2015. According to a securities filing, the total net loss for the first six months of the year reached $83.9 million. ...

Plainridge Park Casino generated revenue of more than $18 million in its first month

Alex Lanter

August 18, 2015

Latest Casino and Gambling News, U.S.A., World Casino News, Economy/Finance, Massachusetts

Plainridge Park Casino in Plainville, Massachusetts generated more than $18 million in gaming revenue in its first month of operation. The information was revealed in the July revenue report released by state o...

Billionaire James Packer’s Crown credit profile under pressure

D. Graham

August 18, 2015

Latest Casino and Gambling News, Australia, Casino News, World Casino News, North America Casino News, Gaming Industry News, Casino project updates, Economy/Finance, Macau, Nevada

Between the recent increase in cost to insure Crown Resort’s notes, rising net debt, widening spread of credit default swaps, significant profit decreases from Macau properties, and plans to spend billions more...

Atlantic City casinos’ revenue for July goes up for 8.1%; Taj Mahal the only loser

Alex Lanter

August 14, 2015

Latest Casino and Gambling News, U.S.A., Economy/Finance, New Jersey

The revenue of Atlantic City’s eight surviving casinos rose by 8.1% in July, compared with the same month last year. This information was released by New Jersey regulators and it revealed that NJ casinos earned...

Aspers Swansea Casino considers reopening

K Morrison

August 14, 2015

Latest Casino and Gambling News, Casino News, World Casino News, Casino openings, Casino closures, Economy/Finance, United Kingdom

The £13 million (US21.1198 million) South West Wales Aspers Swansea Casino is considering reopening after closing its doors in 2012. A decision to close the Wind Street casino was made when it was deemed to ...

Cambodian casino operator NagaCorp reports net profit growth of 49%

Alex Lanter

August 13, 2015

Latest Casino and Gambling News, Cambodia, Economy/Finance, Asian Casino News

As Macau casinos are showing continuous drop of revenue, Australian and Cambodian casinos don’t seem to have the same problem. The latest casino operator to reveal an impressive growth of net profit is NagaCorp...