Economy/Finance | World Casino News

Bloomberry chairman Razon warns of oversupply in Manila casino market

April 22, 2016

Latest Casino and Gambling News, Economy/Finance, Philippines

On Thursday, Filipino billionaire, and chairman of Bloomberry Resorts Corp, Enrique Razon Jr., warned that the opening of two additional gaming complexes within the next two years would produce an “oversupply” ...

Macau Labour groups to petition Government for casino employee benefits on May 1

Renee Kingsley

April 22, 2016

Latest Casino and Gambling News, Economy/Finance, Employment & Careers, Macau, Labor Relations

May 1 is known as International Workers Day and commonly referred to as Labor Day in Asia. Two of Macau’s labor groups have plans to submit individual petitions to the government on May 1 for increasing the ben...

Sands China misses analyst earnings predictions but Sheldon Adleson remains confident over recovery

Renee Kingsley

April 21, 2016

Las Vegas, Latest Casino and Gambling News, China, Casino project updates, Economy/Finance, Macau

The Las Vegas Sands Corp is the biggest casino enterprise in the world and derives a significant portion of its revenue from its Macau based subsidiary, the Sands China Ltd. However the collapse of the Macau ca...

Analyst says nearby construction hurting Studio City’s opening momentum

Kim M

April 20, 2016

Latest Casino and Gambling News, Economy/Finance, Macau

A note from Sterne Agee CRT on Monday stated that Melco Crown’s new Studio City is being hurt by continued disruptions going on next to the property. While the U.S.-based brokerage said it still believes tha...

New Jersey hit with $33.5 million lawsuit for failing to keep its promise to Atlantic City

Renee Kingsley

April 20, 2016

Latest Casino and Gambling News, Economy/Finance, Taxation, Fines, Lawsuits & Litigation, New Jersey

New Jersey Governor Chris Christie increased pressure for a state takeover of the nearly bankrupt Atlantic City earlier this month after instructing the commissioner of education to take Atlantic City to court,...

Possible compromise in the works as leaders discuss Atlantic City financial woes

Sadonna Price

April 19, 2016

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

Legislators in the state of New Jersey have been considering a takeover of Atlantic City for some time in the hopes that they can straighten out the financial issues that gambling town is currently facing. A ne...

Exclusive: Vernon Downs investor concerned about market share, continued impact of Oneida monopoly

Lars Jones

April 17, 2016

Tribal Gaming, Horse Racing, Latest Casino and Gambling News, Economy/Finance, New York

While Tioga Downs in the Southern Tier of Upstate New York works busily toward getting their facilities ready to open a full scale casino shortly after the state's Gaming Commission hands over a license, a mino...

Washoe County to take responsibility for back taxes; Reno Casinos avoid paying close to $5 million

Sadonna Price

April 15, 2016

Latest Casino and Gambling News, Economy/Finance, Nevada

An issue with unpaid taxes in Washoe County has now been resolved, as the county has decided to not hold casinos and gambling venues of Reno responsible for $4.8 million due to under collection of taxes. On Tue...

Atlantic City would get 130 days to avoid takeover with new plan

Kim M

April 14, 2016

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

Under a new proposal, Atlantic City has 130 days to devise a plan to fix its finances or the state takes over. Proposed by Democratic State Senate President Steve Sweeney and others on Wednesday, the measure...

MGM and Wynn Macau have stopped providing free shuttle access from March 1

Renee Kingsley

April 14, 2016

Latest Casino and Gambling News, Economy/Finance, Macau

A couple of years ago it would have been inconceivable to think that visitors to Macau would have to pay for a shuttle ride from the ferry terminal to any one of Macau’s casinos. Casinos were happy to invest in...

In first three months of 2016 Ohio casinos generate a hefty $71.2 million

Kim M

April 12, 2016

Latest Casino and Gambling News, Economy/Finance, Ohio

The first three months of 2016 recorded the highest single quarter for Ohio’s four casinos since they opened in 2012; generating $71.2 million for schools, cities and counties. An increase of approximately $...

$975m – $1.2 billion MGM (RIET) IPO set for Friday; Terms announced

Lars Jones

April 11, 2016

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

MGM Growth Properties LLC MGM Resorts International's (nyse:mgm) real estate investment trust (REIT), has announced the terms of its initial public offering (IPO). The REIT will be birthed with a portfolio con...

Indiana casino revenues slightly down in March

Sadonna Price

April 10, 2016

Latest Casino and Gambling News, Economy/Finance, Indiana

After starting off strong in 2016, the casinos of Indiana have reported a slight drop in revenues from gaming when compared to the same time frame in 2015. The casinos of the area were able to earn $89.6 millio...

Sun International drops Peermont Group acquisition

Lars Jones

April 8, 2016

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

Wednesday South Africa’s Sun International (JSE: SUI) announced that it planned to halt its R9.5 billion ($623 million) plan to take over rival Peermont Group. South Africa’s Competition Commission recommended ...

Atlantic City casinos report a 40% higher gross operating profit in 2015

Alex Lanter

April 8, 2016

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

Atlantic City had a pretty bad year in 2014 when four of its gaming properties closed their doors for customers. However, as a result, the gaming destination was left with only eight casinos and experts predict...

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Bloomberry chairman Razon warns of oversupply in Manila casino market

Macau Labour groups to petition Government for casino employee benefits on May 1

Sands China misses analyst earnings predictions but Sheldon Adleson remains confident over recovery

Analyst says nearby construction hurting Studio City’s opening momentum

New Jersey hit with $33.5 million lawsuit for failing to keep its promise to Atlantic City

Possible compromise in the works as leaders discuss Atlantic City financial woes

Exclusive: Vernon Downs investor concerned about market share, continued impact of Oneida monopoly

Washoe County to take responsibility for back taxes; Reno Casinos avoid paying close to $5 million

Atlantic City would get 130 days to avoid takeover with new plan

MGM and Wynn Macau have stopped providing free shuttle access from March 1

In first three months of 2016 Ohio casinos generate a hefty $71.2 million

$975m – $1.2 billion MGM (RIET) IPO set for Friday; Terms announced

Indiana casino revenues slightly down in March

Sun International drops Peermont Group acquisition

Atlantic City casinos report a 40% higher gross operating profit in 2015

Arizona Sports Betting Surges in September with Record Revenues

UAE Launches Its First Regulated National Lottery: A New Era in Gaming

Navajo Nation Secures Trust Land for Economic Growth and Gaming Facility

Philippines’ Intensified Battle Against POGO Evasion: A Nationwide Enforcement Challenge

Kathy Hochul Vetoes Casino Licensing Bill Amid Process Controversy