Blackstone Group executive Jonathan Gray doesn’t consider himself a gambler. But the New York City-based private equity fund is wagering $1.73 billion it can make The Cosmopolitan of Las Vegas a shining jewel on the Strip.
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Casinos & Gaming
Station Casinos reports fourth quarter revenue and cash flow figures at levels not experienced since 2008.
The Las Vegas Convention and Visitors Authority on Tuesday scheduled a special board meeting for Friday to consider its acquisition of the 60-year-old Riviera for $182.5 million.
MGM Resorts International Chairman Jim Murren told analysts and investors Tuesday there were “encouraging signs” of increased customer spending at his company’s 10 Strip resorts in the past few months.
Attorney general nominee Loretta Lynch says it is unlikely she would reverse a landmark Department of Justice opinion that opened the door to legalized Internet gambling and also sparked a backlash against it.
Internet gambling supporters rejoiced when the Justice Department changed its opinion on the Federal Wire Act and opened the doors for online wagering expansion across the United States.
The proposal would let bookmakers place betting lines on Olympic sporting or athletic events sanctioned by the International Olympic Committee.
Tourism industry sources say the venerable Riviera may soon give way to convention center expansion plan.
Boyd Gaming Corp. narrowed its net loss in the fourth-quarter as results from its regional markets and Las Vegas locals properties grew in the final months of 2014.
The American Gaming Association will launch a national initiative in conjunction with the 2016 presidential campaign that will place the industry’s economic benefits in front of candidates for the nation’s highest office.
Regional casino operator Pinnacle Entertainment saw a slight decrease in profits in the fourth quarter.
By numbers alone, the merger of Golden Gaming and Lakes Entertainment doesn’t equal any one of the combined $18.5 billion in gaming equipment manufacturing buyouts that have happened in the past 18 months.
A Las Vegas judge is taking testimony to help determine what, if any, sanctions to impose on Sands China Ltd. for redacting personal information from about 2,600 documents the company produced in 2013 as part of an ongoing lawsuit.
National Hockey League Commissioner Gary Bettman said Tuesday in Las Vegas the league has not taken a position on legalizing sports wagering.
WILMINGTON, Del. — The Revel Casino Hotel in Atlantic City, New Jersey, asked a U.S. bankruptcy judge to end its agreement to sell the gambling complex to Florida developer Glenn Straub for $95.4 million, according to a Tuesday court filing.
GTECH Holdings completes $5 billion in financing needed to complete its buyout of slot machine giant International Game Technology.
The new arena on the Strip is more than a year way from opening, but it has landed its first major sponsor — a global brand name unusual for a big-time sports and entertainment facility.
CAMDEN, N.J. — A lawyer representing the buyer of the bankrupt Revel Casino in Atlantic City said his client would miss a midnight Monday deadline to complete the purchase, amid concerns over precisely what his client is buying.
Jon Jerde, who helped design Treasure Island, The Bellagio and the Fremont Street Experience, died Monday at his home in Los Angeles after a lengthy illness, a family spokeswoman said. He was 75.
Ray Marion Cuddy, convicted of kidnapping the daughter of casino mogul Steve Wynn in 1994, in halfway house pending March 11 release.
Wynn, Las Vegas Sands and others say they heed the government’s call and are moving to add non-gaming amenities to their Macau holdings
Over the last 18 months, Scientific Games Corp. spent $7.6 billion to acquire the gaming industry’s No. 2 and No. 3 slot machine manufacturers. That makes Scientific Games Corp. the new International Game Technology — minus the baggage.
After managing casinos in exotic locales such as New Zealand, the United Kingdom and Uruguay, Michael Silberling opted to become CEO of a gaming company whose flagship properties are in the Interstate 15 community of Primm at the California-Nevada border and the Denver suburb of Black Hawk, Colo. And he couldn’t be happier.