Economy/Finance | World Casino News

Duterte’s heavy hand reaching into the past to shake down Entertainment City operators

August 31, 2016

Latest Casino and Gambling News, Economy/Finance, Philippines

Four casinos at Entertainment City have been ordered by the Philippine Amusement and Gaming Corp. to restore a license fee cut that was given by the previous administration. Four gaming venues will now have to ...

Macau Jockey Club losses potentially unlawful; Plans for profitability

Martin Chua

August 29, 2016

Latest Casino and Gambling News, Horse Racing, Economy/Finance, Macau, Fines, Lawsuits & Litigation

The Macau Jockey Club (MJC) registered a loss of MOP88 million (US$11 million) for the last fiscal year, continuing to eat into corporate capital. Portuguese-language publication Hoje Macau has reportedly note...

James Packer gives up Crown Resorts shares to settle sibling debt

Sadonna Price

August 29, 2016

Latest Casino and Gambling News, Australia, Economy/Finance

After reaching a settlement with his sister Gretel, James Packer has decided to pay the debt owned via the agreement by giving up the majority of control within Crown Resorts. Consolidated Press Holdings Ltd. i...

Mactan Leisure City to break ground in Philippines January 2017

Lars Jones

August 27, 2016

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

Mactan Leisure City, to be located in Lapu-Lapu City, just off Cebu, is scheduled to break ground in January, according to a report filed by Calata Corp. (CAL) with the Philippines stock exchange Friday. The pr...

Uber’s foray into China cost investors $2 billion in 2 years, $1.27b first half 2016 alone

Martin Chua

August 27, 2016

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

Uber investors saw at least $2 billion wiped off their balance sheet over the last two years from their so-far failed China venture, according to a Bloomberg report. Reuters reported this week that the ride hai...

Analyst doesn’t see Duterte’s heavy hand as a negative for Philippine resort casinos

Lars Jones

August 26, 2016

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

The end result of president Duterte's crackdown on gambling in the country might not be a concern for the integrated resort casinos in Manila and Entertainment City. A recent report in GGRAsia quotes CLSA Ltd ...

Galaxy net profit available to shareholders $2.6 billion H1, up 26% year-on-year

Martin Chua

August 25, 2016

Latest Casino and Gambling News, Economy/Finance, Macau

Galaxy Entertainment Group (HKEx stock code: 27) seems to have mastered the difficult Macau market ahead of its competitors and was able to post impressive numbers in their Interim Results for 1H 2016. Perhaps ...

Macau casino industry employment figures highlight market slowdown

Martin Chua

August 24, 2016

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

The number of people employed in the Macau casino industry during the second quarter dropped slightly when compared with the same three-month period in 2016 although average salaries experienced a minimal incre...

July gross gaming revenues for Pennsylvania casinos top $288 million

Adam Morgan

August 24, 2016

Latest Casino and Gambling News, Technology, Economy/Finance, Pennsylvania

The twelve casino in Pennsylvania have reported an almost 3% increase year-on-year in total July gross gaming revenues to $288.45 million led by the performance of Sands Casino Resort Bethlehem following its in...

The Rank Group remains on the lookout for merger and acquisition opportunities

Adam Morgan

August 23, 2016

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

After last week failing in its joint $4 billion bid to buy competitor William Hill, British land-based casino and bingo operator The Rank Group has announced that it is still on the lookout for merger and acqui...

Atlantic City Casino revenue grows by 21 percent during the first half of 2016

Renee Kingsley

August 23, 2016

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

The casino industry in Atlantic City has struggled as gross gaming revenues have declined by as much as fifty percent in the last decade. The city which has a monopoly on New Jersey’s casino industry saw four o...

No dividend for Wynn Macau Limited investors as six-month net profit drops over 20%

Lars Jones

August 22, 2016

Latest Casino and Gambling News, Economy/Finance, Macau

Casino operator Wynn Macau Limited has released its interim financial results for the first six months of 2016 showing a 20.6% drop year-on-year in net profit to $147.15 million alongside a 5.5% decrease in tot...

Paradise Group makes first American purchase

Adam Morgan

August 22, 2016

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

South Korean casino operator Paradise Group has made its first acquisition in the United States after spending $26 million in order to purchase a 167-room hotel in downtown Orlando, Florida. Responsible for ...

Studio City Casino Macau facing loan default calamity

Adam Morgan

August 20, 2016

Latest Casino and Gambling News, Economy/Finance, Macau

As the $4.2 billion Wynn Palace Cotai casino resort from operator Wynn Resorts Limited gets set to open its doors on Monday, news has emerged that the nearby Studio City Casino Macau development could be about ...

Alabama Senate may vote after committee approves two lottery bills

Renee Kingsley

August 17, 2016

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

Alabama’s Senate Tourism and Marketing Committee met on August 16 to review the state lottery bills that were submitted as both proponents and opponents of the bills shared their views with the senate committee...

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Duterte’s heavy hand reaching into the past to shake down Entertainment City operators

Macau Jockey Club losses potentially unlawful; Plans for profitability

James Packer gives up Crown Resorts shares to settle sibling debt

Mactan Leisure City to break ground in Philippines January 2017

Analyst doesn’t see Duterte’s heavy hand as a negative for Philippine resort casinos

Galaxy net profit available to shareholders $2.6 billion H1, up 26% year-on-year

Macau casino industry employment figures highlight market slowdown

July gross gaming revenues for Pennsylvania casinos top $288 million

The Rank Group remains on the lookout for merger and acquisition opportunities

Atlantic City Casino revenue grows by 21 percent during the first half of 2016

No dividend for Wynn Macau Limited investors as six-month net profit drops over 20%

Paradise Group makes first American purchase

Studio City Casino Macau facing loan default calamity

Alabama Senate may vote after committee approves two lottery bills

Bally’s $300M Star Investment at Risk Over AUSTRAC Penalty

Regulatory Concerns Shake Philippine Online Gambling Sector; Stocks Take Hit

Evolution Expands into Rhode Island Through Bally’s Casino Deal

The Venetian Resort Settles EEOC Religious Discrimination Lawsuit

MLB Probes Guardians Pitcher Luis Ortiz Over Betting Concerns