Economy/Finance | World Casino News

Red Rock Resorts IPO in the works on heels of MGM $1.05b success

April 26, 2016

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

Las Vegas-based LBO casino operator Red Rock Resorts (RRR) is scheduled to price its initial public offering (IPO) today and could raise $572.25 million, which would make it the second-largest IPO this year, tr...

MGM Resorts closes on REIT IPO and related financial transactions

Adam Morgan

April 26, 2016

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

Casino operator MGM Resorts International has established the MGM Growth Properties LLC subsidiary to handle ten of its properties including The Mirage and Mandalay Bay in Las Vegas. The new publicly traded rea...

Mississippi casino revenue declines 5% as Gulf Coast gaming slows down

Alex Lanter

April 26, 2016

Latest Casino and Gambling News, Economy/Finance, Financial Press Releases, Mississippi

Mississippi casino revenue fell from $198 million in March 2015 to $188 million in March 2016, after Gulf Coast properties such as Harrah’s Gulf Coast and Hollywood Casino Bay St. Louis recorded a slowdown of 4...

Brantford receives casino payment from OLG for $1.39 million

Sadonna Price

April 23, 2016

Latest Casino and Gambling News, Economy/Finance, Ontario

The city of Brantford has hosted the Brantford Casino since 1999 and continues to receive payments from the Ontario Lottery and Gaming Corp. for being the host area. The most recent payment comes from the fourt...

Bloomberry chairman Razon warns of oversupply in Manila casino market

Kim M

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

Latest Casino and Gambling News, Las Vegas, 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

Latest Casino and Gambling News, Tribal Gaming, Horse Racing, 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 $...

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Red Rock Resorts IPO in the works on heels of MGM $1.05b success

MGM Resorts closes on REIT IPO and related financial transactions

Mississippi casino revenue declines 5% as Gulf Coast gaming slows down

Brantford receives casino payment from OLG for $1.39 million

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

Greentube Alderney Hit with £1 Million Fine by UKGC for AML and Social Responsibility Failures

New Casino Proposal in Tysons Sparks Fresh Debate in Virginia Legislature

France Weighs Online Casino Legalization to Address Illegal Market

Cambodia’s Casino Tax Revenue Jumps 85% in 2024 to $63.1 Million

Tipico Group Expands into Austria with Admiral Acquisition