Falling gasoline prices and rising consumer confidence potentially add up to good news for regional casino operators. Whether or not this translates into more dollars in casino drop boxes is still up for debate.
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Casinos & Gaming
Christian Goode, the top executive for the planned $4 billion Resorts World Las Vegas development, is no longer with the project, sources said Wednesday.
Steve Wynn’s 37.5 percent pay cut in base salary was described by Wynn Resorts Ltd. as an adjustment that will include a performance-based equity component as part of his compensation.
Bill Boyd said a 1983 decision to take over management of the troubled Stardust at the request of the Gaming Control Board was an easy choice.
Casino operator Wynn Resorts Ltd. has slashed Chief Executive Steve Wynn’s salary to $2.5 million per year from $4 million, a regulatory filing showed.
A Chinese government official is hinting at a potential gaming tax increase ahead of license renewals for Macau’s casino operators.
MGM Resorts International has received two awards for its training and engagement of employees.
U.S. casinos must take steps to combat illegal sports gambling, the Treasury Department has told an industry group in a letter that came just weeks before the Super Bowl, one of the biggest betting events of the year.
The Gaming Control Board will consider a regulation change next month that would allow Nevada sports books to accept wagers on the Olympics.
Caesars Entertainment Corp. placed its largest operating division into bankruptcy on Thursday, taking the initial steps to eliminate almost $10 billion of debt and restructure the casino operator’s troubled balance sheet.
The American Gaming Association is expanding both in membership and influence. Last week, the AGA announced it added nine new members, including Seminole Hard Rock Gaming — the group’s first American Indian-owned casino company — and the Las Vegas Convention and Visitors Authority.
A top Malaysian government official and his ruling political party have come under fire in light of his intervention in a high-profile Las Vegas illegal sports betting case.
The initial phase of the $3.5 billion Baha Mar resort in the Bahamas will open March 27.
Illinois private equity firm Z Capital Partners, the largest shareholder in casino operator Affinity Gaming, has increased its ownership stake in the company whose holdings include the three Primm resorts and the off-Strip Silver Sevens.
Junior level creditors of Caesars Entertainment Corp. are attempting to block this week’s planned restructuring of the casino company’s primary business unit.
Back when Nevada and Atlantic City were the only places in the United States to find casinos, the law firm Lionel Sawyer & Collins ruled the legal roost.
NEW YORK — A failure by ISDA’s Credit Determinations Committee to agree whether Caesars Entertainment entered into a technical default in December has resulted in the convening of an external arbitration panel for the first time in six years, and has added to concerns that credit default swaps have begun to unduly influence lender activity.
The state’s largest casinos lost $743.7 million in the 2014 fiscal year, cutting their losses in half from the previous year.
Atlantic City has endorsed steep budget cuts but rejected the idea of a state-appointed emergency manager as part of the struggling New Jersey gambling hub’s recovery plan.
Caesars Entertainment Corp. said on Friday it has garnered enough support from key creditors to carry out its $18.4 billion debt restructuring plan for its operating unit, which will soon file for bankruptcy.
The American Gaming Association on Tuesday praised UNLV for creating a master’s degree program in gambling law and regulation.
CAMDEN, N.J. — A U.S. bankruptcy judge approved on Monday the sale of the shuttered Revel in Atlantic City to a Florida developer for $95.4 million, a price the buyer said he now doesn’t want to pay.
Shareholders of slot machine developer International Game Technology will vote Feb. 10 on the company’s $6.4 billion merger agreement with lottery provider GTECH Holdings.