Economy/Finance

MGM reconfigures credit agreement for Macau Resort

June 14, 2015

Latest Casino and Gambling News, Las Vegas, China, Gaming Industry News, Economy/Finance, Macau

MGM Resort International announced Friday June 12, 2015 that it has refinanced the credit agreement for the Macau subsidiary. The agreement is being used to complete a $2.9 billion resort currently under constr...

New Orleans smoking ban responsible for revenue drop at Harrah’s Casino

Renee Kingsley

June 10, 2015

Gaming Law & Legislation, U.S.A., Casino News, Gaming Industry News, Economy/Finance, Licenses, Louisiana

Harrah’s New Orleans Casino experienced a revenue slump based on the recent revenue report released by the Louisiana Gaming Control Board. The casino reported a 16% decrease in year on year revenue and brought ...

Queensland Tourism Industry Council backs Great Keppel casino boutique license

Renee Kingsley

June 9, 2015

Casino proposals, Australia, Casino News, Latest Casino and Gambling News, Gaming Industry News, Casino project updates, Economy/Finance, Licenses, Oceania Casino News

Tower Holdings has already received approval from the Queensland, Australia government to build its $2 billion Great Keppel Island resort but the company has made it clear to the government that construction wo...

Quebec authorities investigate Amaya Gaming CEO and CFO

Renee Kingsley

June 3, 2015

Online gambling regulation, Canada, Gaming Industry News, Money Laundering, Economy/Finance, Quebec, Online Gambling News, Tax Evasion, Mergers, Acquisitions & Partnerships, Crime, Taxes, Financial Fraud

Amaya Inc based out of Canada, was a relatively unknown company until it surprised everyone in the poker industry in June 2014, when it confirmed that it had successfully acquired PokerStars and Full Tilt Poker...

New Jersey gaming market in state of flux

Lars Jones

May 29, 2015

Technology, Economy/Finance, Licensed online casinos in USA, Conferences / Trade Shows, Indepth / Featured Articles, New Jersey

The 19th Annual East Coast Gaming Congress opened Wednesday at Borgata in Atlantic City with a panel on internet casinos. Notable take-aways include notes of much less revenue being generated than was expected,...

Atlantic City survivors; casinos post 26% increase in operating profits

Sadonna Price

May 23, 2015

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

Last year, four casinos in the Atlantic City area closed their doors for good and those that remained hoped to see a turn to profits when it comes to gambling revenues. The New Jersey Division of Gaming Enforce...

Z Capital wants Affinity Gaming sold

Sam Mitchell

May 22, 2015

Latest Casino and Gambling News, Economy/Finance, Mergers, Acquisitions & Partnerships, Nevada

May 20th 2015, an offer made by the largest shareholder in Affinity Gaming, to buy the remaining shares of the casino operator has expired. The firm that made the offer believes that the company should be sold....

Land & Buildings LLC gives up on push for MGM board seats

Renee Kingsley

May 21, 2015

Latest Casino and Gambling News, Gaming Industry News, Economy/Finance, Nevada

MGM Resorts International is one of the biggest casino operators in the world and has built a strong reputation in the market for delivering consistent results. Land & Buildings Investment Management LLC ba...

Okada’s Universal sells entire Manila land stake to local firm

Lars Jones

May 20, 2015

Latest Casino and Gambling News, Casino project updates, Economy/Finance, Mergers, Acquisitions & Partnerships, Philippines

According to a filing with the Japanese Stock Exchange, Universal Entertainment Corp has sold it's entire 40% stake in Eagle II Holdco Inc, to Filipino firm All Seasons Hotels & Resorts Corp for $2.9 millio...

Sun City opens junket rooms in Philippines–Macau policies may be reason

Sam Mitchell

May 18, 2015

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

Sun City is currently the largest junket in Macau with a historic share of the lucrative market in the 25-30% range. They recently began expanding operations in the Philippines. Analysts are worried that this m...

STDM Portugal losses increase 95%

Sam Mitchell

May 18, 2015

Latest Casino and Gambling News, Casino News, Economy/Finance, Portugal

Last week Sociedade de Turismo e Diversões de Macau (STDM) saw losses in Portugal increase by 95%. This has been put down to the heavy taxes on gaming and declining revenues. The business founded by Stanley Ho ...

Genting Singapore first quarter profits tumble 64%

Sam Mitchell

May 15, 2015

Casino News, Latest Casino and Gambling News, Economy/Finance, Singapore

On the 15th May 2015, the first quarter profits for Genting Singapore have dropped 64% as VIP gaming declined and mass market gaming has not increased. The company currently doesn't see the end of the tunnel fo...

Gaming revenue dips; Macau govt surplus down 54.8%

Sam Mitchell

May 14, 2015

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

On May 13th 2015, according to the city’s Financial Service Bureau, the surplus for the government of Macau has gone down by 54.8% to MOP20.9 billion for year on year in the last four months to April 30th. I...

Deutsche Bank says Macau mass gamblers do not bring in as much revenue as VIP gamblers

Renee Kingsley

May 14, 2015

Economy/Finance, Macau

Beijing's anti-corruption campaign against VIP gamblers in Macau over an extended period of time has been successful as these VIP gamblers have decided to stop frequenting Macau's casinos and instead take their...