The economic contributions of Oklahoma’s tribal nations have reached unprecedented heights, with a study revealing that these nations contributed $23.4 billion to the state’s economy in 2023. This significant figure represents the largest increase in economic activity over a four-year period, marking a $4.9 billion rise from the previous period. The findings, announced at the Oklahoma History Center, show a dramatic expansion in the state’s tribal economy from FY 2019 to FY 2023, nearly doubling the increase recorded between FY 2017 and FY 2019. The study […]

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Wynn Resorts has opted to delay a series of capital expenditure projects valued at approximately $375 million, including the highly anticipated remodel of its Encore tower in Las Vegas. CEO Craig Billings made the announcement during the company’s Q1 2025 earnings call, attributing the decision to ongoing uncertainty around U.S. tariffs, which have introduced cost unpredictability for construction-related materials. Although the operational cost effects of tariffs—particularly on food and beverage—are currently considered “low and entirely manageable,” Billings said capital expenditures pose a different challenge. “The current tariff rates have driven […]

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After the exuberance of the National Day Golden Week, Macau’s casinos witnessed a substantial decrease in daily gross gaming revenues (GGR). During the third week of October, the daily GGR plummeted to approximately MOP$514 million (US$64.1 million), marking a stark decrease from the MOP$846 million (US$106 million) reported in the earlier part of the month. This decline, while anticipated by market analysts, underscores the cyclical nature of the gaming industry in response to significant holiday periods. A significant drop in gaming revenue following Golden Week […]

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DraftKings, the Boston-based sports betting giant, has recently been fined $200,000 by the Securities and Exchange Commission (SEC) for premature disclosures made on the personal social media accounts of its CEO, Jason Robins. This incident highlights significant compliance lapses in handling sensitive financial information. Regulatory oversight and financial disclosures: On July 27, 2023, statements regarding DraftKings’ operational growth were posted on CEO Jason Robins’ personal X and LinkedIn accounts, claiming the company was experiencing “really strong growth” in active states. These posts were made public before the […]

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Star Entertainment Group, the casino operator embroiled in regulatory scrutiny, has announced the sale of its iconic Treasury Brisbane Casino building in Queensland for A$67.5 million ($45.47 million). This strategic divestment comes at a crucial time for the company, which is currently grappling with significant governance and cultural challenges. Strategic disposition amid financial review: As Star Entertainment continues to work closely with its advisors to finalize the fiscal 2024 financial results, the decision to offload the Brisbane property reflects a broader strategy aimed at financial […]

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The Atlantic City’s casinos recorded a fall in revenue during Q3 this year compared to the same period last year.  The revenue decrease: According to the gambling regulators in New Jersey, in total, both casinos and online entities earned $281.2 million, which is 7.5% less than in the third quarter of last year. The Division of Gaming Enforcement announced that the profit is higher than it was in 2019, before the collective drop down because of the COVID-19 pandemic; the […]

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The voters for Richmond haven’t decided yet if they want a new casino. However, the new events stole the spotlight when one of the companies included in this major project came under suspicion for financial reporting irregularities. Possible delisting from the stock market: If proven true, it can lead to a complete ban from the stock market. The company from Maryland, Urban One, was supposed to back the new Richmond Grand Resort and Casino along with Churchill Downs from Kentucky.  […]

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Bally’s Corporation announced the results of the fourth quarter of 2022, as well as the whole year. The company has a quarterly loss of $0.43 per share, which was unexpected. Only during the previous year, the earnings were $0.02 per share.  The hope for 2023: The earnings surprise was -304.76% during the quarter. Only a quarter ago, it was -96.43%, when it was expected to earn $0.28 per share, and the earnings per share were $0.01. During the last four […]

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Maryland sports betting report has been published, and there is some interesting financial news. A big surprise was the amount of more than $180 million in the mobile handle. That money was spent during the Thanksgiving period.   The expected numbers:   If we consider how online sports gambling is performed, these numbers are to be expected. When the new jurisdiction accepts online sports gambling, this is almost always followed by bonuses and promotions, decreasing taxable revenue and tax collections. […]

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Scientific Games, the global makers of gambling equipment and lottery products posted an official press release Thursday showing a 2.1% uptick in Q4 profits, year-on-year, to a total of $752 million, while their net loss for the same period dropped down by 13% to $111 million. Their full year revenue, on the other hand, grew by 4.5% to $2.88 billion. The company’s positive revenue growth was, in part, thanks to a 52% increase in social, or B2C (business to consumer) […]

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