Economy/Finance

February 12, 2016

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

Wynn Resorts Macau published a net revenue report that reveals a drastic drop of 27% for the fourth quarter of 2015. The total amount the operator generated is $555.7 million, whereas during the same period in ...

First half of 2016 expected to see 30 percent net income hike for SkyCity

February 11, 2016

Latest Casino and Gambling News, Casino News, World Casino News, Gaming Industry News, New Zealand, Economy/Finance, Oceania Casino News

As it benefits from improved trading, first-half profits are expected to rise as much as 30 percent for New Zealand’s only listed casino company, SkyCity Entertainment Group. The company cited lower funding ...

Pennsylvania Governor Tom Wolf proposes 8% tax on free-play slot credits

February 11, 2016

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

Governor Tom Wolf of Pennsylvania unveiled his budget plans this week, for the 2016-2017 fiscal year. The plans were released even though Wolf and the legislators of the state have yet to come to an agreement o...

Decreased revenues expected in St. Lawrence County from Akwesasne Mohawk Casino

February 10, 2016

Latest Casino and Gambling News, Tribal Gaming, Casino News, North America Casino News, Gaming Industry News, Economy/Finance, New York

Officials in St. Lawrence County were expecting to collect $3 million in revenue for 2015 from the tribal-state compact agreement, but instead will fall nearly $500,000 short. Based on receipts recently rece...

Advisory board wants Niagara Falls to stop using casino proceeds for budget

February 10, 2016

Latest Casino and Gambling News, Casino News, North America Casino News, Gaming Industry News, Economy/Finance, Taxation, New York

Monday was the second time the Niagara Falls Advisory Panel met with the City Council to deliver an urgent message, to stop using casino funds to balance the city’s budget. A meeting between Advisory Panel C...

DraftKings valuation plunges 60% since DFS legal uncertainty began

February 10, 2016

Latest Casino and Gambling News, Gaming Law & Legislation, Online gambling regulation, Economy/Finance, Online Gambling News, Fantasy Sports

Ever since the legal and regulatory uncertainty in the daily fantasy sports (DFS) industry began, DraftKings, a popular DFS operator, has seen its valuation falling down by 3/5. This can be witnessed in the 10-...

Bernstein says, Genting Singapore should outperform

February 9, 2016

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

Bernstein reports, due to strong cash flow generation, resumption of sizeable share buyback, and a stabilizing Singapore gaming market Genting Singapore PLC (GENS:SP )stocks are expected to outperform. Accor...

Wildhorse Resort & Casino expands liquor sales; increases gaming age limit

February 9, 2016

Tribal Gaming, Latest Casino and Gambling News, Economy/Finance, Oregon

The Wildhorse Resort & Casino is a gaming venue located in Pendleton, Oregon that recently decided to expand their liquor sales. The owner/operator of the venue, the Confederated Tribes of the Umatilla Rese...

New betting record set during Super Bowl 50 at Nevada Sportsbooks

February 9, 2016

Latest Casino and Gambling News, NFL, Economy/Finance, Sports betting, Nevada

The sportsbooks in the state of Nevada stayed busy this past weekend as Super Bowl 50 brought in a record number of punters. On Monday, the Nevada Gaming Control Board released the figures from the 194 sportsbo...

Ohio racino revenue up 9% in January, casino revenue essentially flat

February 9, 2016

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

Compared to last year, racinos in Ohio had a strong January with increased revenue of 9%. In addition, the revenue was 7.5% up at Columbus' Scioto Downs. The casino revenue, on the other hand, remained more or ...

Cosmopolitan Las Vegas Welcomes High Bet Limits of $200,000

February 8, 2016

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

It has been 14 months since Blackstone Group LP bought the Cosmopolitan, a 3,000-room resort casino in Las Vegas. To attract more visitors to the property, Blackstone, led by Steve Schwarzman and Bill McBeath, ...

Record number of visitors in Las Vegas in 2015 but gambling loses its luster

February 8, 2016

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

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Despite the fact that the number of visitors in Las Vegas increased 2.5 percent last year compared to 2014, the gambling revenue remained almost the same. A whooping total of 42.3 million tourists visited Sin C...

OTG considering casino gaming for major U.S. airports

February 7, 2016

Latest Casino and Gambling News, Technology, Economy/Finance, New York

OTG is a company that creates top quality airline concessions for airports around the United States. The management team of the company recently filed an IPO to try and expand their business operations to more ...

Cali Group closes two VIP gaming rooms