Economy/Finance | World Casino News

Galaxy profits fall 66% on turndown and poor luck

August 20, 2015

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

Galaxy Entertainment Group reported a dramatic fall of revenues by 66% in the first half of 2015. The Macau casino operator, which was founded by billionaire Liu Che Woo, witnessed its net profit plunge by almo...

SLS Las Vegas suffers net loss of $48.6 million in second quarter of 2015

Alex Lanter

August 19, 2015

Latest Casino and Gambling News, U.S.A., Economy/Finance, Nevada

The SLS Las Vegas reported a net loss of more than $48.6 million in the second quarter of 2015. According to a securities filing, the total net loss for the first six months of the year reached $83.9 million. ...

Plainridge Park Casino generated revenue of more than $18 million in its first month

Alex Lanter

August 18, 2015

U.S.A., Latest Casino and Gambling News, World Casino News, Economy/Finance, Massachusetts

Plainridge Park Casino in Plainville, Massachusetts generated more than $18 million in gaming revenue in its first month of operation. The information was revealed in the July revenue report released by state o...

Billionaire James Packer’s Crown credit profile under pressure

D. Graham

August 18, 2015

Australia, Latest Casino and Gambling News, Casino News, North America Casino News, World Casino News, Gaming Industry News, Casino project updates, Economy/Finance, Macau, Nevada

Between the recent increase in cost to insure Crown Resort’s notes, rising net debt, widening spread of credit default swaps, significant profit decreases from Macau properties, and plans to spend billions more...

Atlantic City casinos’ revenue for July goes up for 8.1%; Taj Mahal the only loser

Alex Lanter

August 14, 2015

U.S.A., Latest Casino and Gambling News, Economy/Finance, New Jersey

The revenue of Atlantic City’s eight surviving casinos rose by 8.1% in July, compared with the same month last year. This information was released by New Jersey regulators and it revealed that NJ casinos earned...

Aspers Swansea Casino considers reopening

Kim M

August 14, 2015

Latest Casino and Gambling News, Casino News, World Casino News, Casino openings, Casino closures, Economy/Finance, United Kingdom

The £13 million (US21.1198 million) South West Wales Aspers Swansea Casino is considering reopening after closing its doors in 2012. A decision to close the Wind Street casino was made when it was deemed to ...

Cambodian casino operator NagaCorp reports net profit growth of 49%

Alex Lanter

August 13, 2015

Latest Casino and Gambling News, Cambodia, Economy/Finance, Asian Casino News

As Macau casinos are showing continuous drop of revenue, Australian and Cambodian casinos don’t seem to have the same problem. The latest casino operator to reveal an impressive growth of net profit is NagaCorp...

Macau casino operator SJM Holdings profit falls more than half

Alex Lanter

August 13, 2015

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

Macau casino operator SJM Holdings reported huge losses of more than 50% year-on-year in the first half of 2015. The profit the company made in the first six months, up to 30th of June, was around HKD1.79 billi...

Studio City default contingency plan based on table allocations

Lars Jones

August 12, 2015

Casino project updates, Economy/Finance, Licenses, Macau

In April it was widely reported that Melco Crown Entertainment (60% owner of Studio City International Holdings Ltd) could find itself in technical default with lenders by October 1, 2016 if they are operating ...

Echo Entertainment Group profit grows more than 50% thanks to Asian VIPs

Alex Lanter

August 12, 2015

Australia, Latest Casino and Gambling News, Economy/Finance, Oceania Casino News

Macau has witnessed a drop in VIP clientele that resulted in significant decline in revenue. However, the Macau struggle has proven to be an opportunity for Australian casinos to shine and take over Asian VIPs....

Increased lottery proceeds helps revenue top $1 billion in Maryland

Kim M

August 10, 2015

Latest Casino and Gambling News, Casino openings, Casino project updates, Economy/Finance, Financial Press Releases, Maryland

Topping the $1 billion mark for first time, state officials in Maryland attributed the 2.2 increase from last year to casino revenue and lottery sales. According to Gordon Medenica, the state’s new Lottery a...

Stagnant gaming business means layoffs for City Of Dreams Manila

Kim M

August 10, 2015

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

After celebrating the “Grand Launch” of its new integrated casino resort in February of this year, the $1.3 billion City of Dreams Manila, a joint venture between Macau’s Melco Crown Entertainment and the Belle...

First-ever profit reported by The Cosmopolitan in Las Vegas

Sadonna Price

August 10, 2015

Latest Casino and Gambling News, Economy/Finance, Nevada

The Cosmopolitan hotel and casino, located on the Las Vegas Strip, was first opened in 2010. The casino had yet to report a quarterly profit since opening five years ago, until now. A quarterly profit was poste...

Lottery terminals in Puerto Rico threaten tourism industry according to association

Lars Jones

August 8, 2015

Gaming Law & Legislation, Casino closures, Economy/Finance, Lottery, Unlicensed Operation, Fines, Lawsuits & Litigation, Puerto Rico

The Puerto Rican economy is in deep trouble with a public debt of $72 billion and the government is scrambling for ways to bolster revenues and avert a calamity. One move to get quick cash saw Finance Minister ...

Genting Singapore sees sharp decline in net profits

Alex Lanter

August 7, 2015

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

Genting Singapore Plc experienced the biggest fall in net profits in the past six years recently, with shares plunging more than 8 percent. The biggest reason for this situation, according to the company, is th...

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Galaxy profits fall 66% on turndown and poor luck

SLS Las Vegas suffers net loss of $48.6 million in second quarter of 2015

Plainridge Park Casino generated revenue of more than $18 million in its first month

Billionaire James Packer’s Crown credit profile under pressure

Atlantic City casinos’ revenue for July goes up for 8.1%; Taj Mahal the only loser

Aspers Swansea Casino considers reopening

Cambodian casino operator NagaCorp reports net profit growth of 49%

Macau casino operator SJM Holdings profit falls more than half

Studio City default contingency plan based on table allocations

Echo Entertainment Group profit grows more than 50% thanks to Asian VIPs

Increased lottery proceeds helps revenue top $1 billion in Maryland

Stagnant gaming business means layoffs for City Of Dreams Manila

First-ever profit reported by The Cosmopolitan in Las Vegas

Lottery terminals in Puerto Rico threaten tourism industry according to association

Genting Singapore sees sharp decline in net profits

Genting Malaysia Faces Lawsuit Over Resorts World Bimini Operations

Macau’s Surging Gaming Tax Revenue Marks Economic Upswing in 2024

Victoria Moves Forward with Carded Play and Stricter Gambling Reforms

Labour Set to Announce Mandatory Gambling Levy to Fund Harm Reduction

Wind Creek Hospitality Collaborates with Kambi for Chicago Southland Sportsbook