Economy/Finance

March 7, 2016

Latest Casino and Gambling News, Las Vegas, Economy/Finance

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Investment bank Macquarie Group Ltd. has been retained to explore a possible sale of the Palms Casino Resort in Las Vegas, according to people close to the matter, Bloomberg reported Friday. Numbers out of Las ...

Alberta sees huge earnings in first six months of 2015-16 fiscal year

March 7, 2016

Latest Casino and Gambling News, Alberta, Economy/Finance, Lottery

Citizens in Alberta have been very eager to wager despite the recent economic downturn, with figures showing a huge amount spent by gamblers for the first six months of the 2015-16 fiscal year. The Alberta Gami...

Steve Wynn’s compensation falls as VIP tables are ignored by Chinese gamblers

March 7, 2016

Latest Casino and Gambling News, Economy/Finance, Macau

With fewer VIP gamblers visiting Macau, the casinos in the once bustling city are now earning less money. With less earnings, pay drops are expected and Steve Wynn of Wynn Resorts is one such individual who is ...

February sees Pennsylvania slot machine revenue Up 9.26%

March 4, 2016

Latest Casino and Gambling News, Economy/Finance, Pennsylvania

Pennsylvania casinos had their second-biggest February since the opening of the first slots parlor in November 2006, as more than $200 million stayed with the 12 casinos when gamblers left for home. Every ca...

Carl Icahn not interested in investing in Trump Taj Mahal if casinos are approved up North

March 3, 2016

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

Carl Icahn, a multi-billionaire businessman, is the new owner of the Taj Mahal in Atlantic City, who was planning on investing $100m into the property. However, Icahn is now stating that he will not invest the ...

Alon Las Vegas may be delayed beyond 2018: Updated

March 2, 2016

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

The story today seems to be much as it was in December when Larry Gandler, a gaming analyst for Credit Suisse noted in a research report that Crown Resorts was trying to fund their Las Vegas Strip Alon Resort d...

Macau casino employees seeking salary increase via city government

March 2, 2016

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

Casino workers located in Macau would like to see a salary increase for their efforts. Employees are represented by various associations who have now asked the city government to help persuade operators of casi...

W. Virginia bill could hobble race track casinos

February 29, 2016

Gaming Law & Legislation, Economy/Finance, West Virginia

A bill floated on behalf of West Virginia Governor Earl Ray Tomblin would strip funding from the state's horse tracks four years earlier than planned, reaping an estimated $9 million a year for the general reve...

Sun International seeks settlement in lost Peermont bid; Hopes to save Menlyn Maine

February 28, 2016

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

Sun International announced Tuesday that they are seeking a R675 million settlement with Peermont after their bid to merge the two companies under Sun was blocked by South Africa's Competition Commission in Dec...

Clark & Champaign counties; casino taxes flat

February 28, 2016

Latest Casino and Gambling News, Economy/Finance, Taxation, Ohio

According to information from the Ohio Department of Taxation, (pdf) over the past two years casino revenue for Clark and Champaign counties has remained relatively flat. However, compared to 2013, revenue i...

Taj Mahal emerges from bankruptcy

February 27, 2016

Casino News, Latest Casino and Gambling News, Economy/Finance, Mergers, Acquisitions & Partnerships, Bankruptcy, New Jersey

Friday saw the Trump Taj Mahal Casino in Atlantic City come out of bankruptcy thanks to billionaire investor, Carl Icahn's Icahn Enterprises LP. The property had been in Chapter 11 and Icahn's buyout of the deb...

AGA responds to Pennsylvania Govenor Tom Wolf’s new casino tax proposal

February 25, 2016

Gaming Law & Legislation, Latest Casino and Gambling News, Economy/Finance, Taxation, Pennsylvania

Pennsylvania Governor Tom Wolf has proposed a tax on casinos to bring in revenues and help the state's ailing budget. The American Gaming Association (AGA) does not agree with the proposal and let the governor ...

Atlantic City mayor rejects idea of state intervention; Proposes alternative

February 23, 2016

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

On Monday, the mayor of the resort city on New Jersey's Atlantic coast known for its casinos, iconic Boardwalk, and wide beaches, did not mince words as he stood outside of City Hall and spoke about a proposed ...

New legislation seeks to revise 2013 deal with Oneida Nation