CAMDEN, N.J. — A bankruptcy court judge on Monday approved a Sept. 24 auction for the failed $2.4 billion Revel in Atlantic City after a Florida developer offered $90 million cash for the closed building.
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Casinos & Gaming
BOSTON — MGM Resorts International has taken ownership of two city-owned properties in downtown Springfield as it plans to build an $800 million casino there.
HONG KONG — Casino revenue in the global gambling mecca of Macau fell for a second straight month in July as Chinese high rollers stayed away because of Beijing’s corruption crackdown.
Lottery manufacturer Scientific Games Corp. will purchase slot machine giant Bally Technologies for $5.1 billion in deal announced Friday. The transaction is the second high-profile gaming industry merger in less than a month.
Boyd Gaming Corp.’s profits and revenue declined in the second quarter because of continued weakness in many regional markets. The company’s online gaming business in New Jersey, however, was a bright spot.
The long dormant site that once housed the New Frontier and was subject of the Strip’s most expensive real estate could become active once again. Bloomberg News Service reported Thursday that Australian billionaire James Packer had acquired a portion of the loan covering the 34.5-acre site and would consider building a hotel-casino on the land.
Caesars Entertainment Corp. continued its efforts to address its gaming industry-high $23 billion in long-term debt Wednesday by installing separate management in one of the company’s operating entities with the intention for a public listing of the business.
Attendees of this year’s Global Gaming Expo in Las Vegas have the opportunity to hear from the CEOs of the gaming industry’s largest casino companies and equipment manufacturers.
Slot machine maker Multimedia Games suffered a decline in profits during the third quarter despite a slight revenue increase.
Analysts have long speculated about the coexistence of online poker and live casino poker rooms in Nevada.
Slot machine maker International Game Technology said Tuesday it grew profits in the third quarter despite a double-digit decline in revenue.
There is reason why Wynn Resorts Ltd. quarterly earnings conference calls are never boring — you never know when Company Chairman Steve Wynn is going to drop a few verbal gems.
Wynn Resorts Ltd. grew second quarter profits and revenue, but attributed much of the results to the company’s two Strip resorts, not its lucrative Macau holdings.
In a statement Monday, Affinity said the company reached agreement with its lenders over a possible default on a portion of its $382.7 million in long-term debt.
With six months in the books, the investment community has clear picture of the casino industry in 2014. And Las Vegas is on an upswing.
The acquisition of slot machine manufacturer International Game Technology by lottery provider GTECH shouldn’t have surprised anyone in gaming. “This is a dance that has been going on for 20 years,” said one gaming industry insider.
The 160,000-square-foot North Las Vegas warehouse and headquarters of Nevada Restaurant Services — parent company of the Dotty’s chain of taverns — is a cross between Costco, Home Depot, a slot machine manufacturing plant and a direct-mail house.
Imagine the dilemma in trying to market Atlantic City to the world. One casino closed in January. Three of the remaining 11 resorts could be shuttered by September. Atlantic City gaming revenue fell to $2.8 billion in 2013, the Boardwalk’s lowest total since 1989.
Nevada casinos recorded their largest single-month gaming revenue increase this year during June. For the second straight month, Strip casinos recorded a double-digit revenue jump.
A fire at a South Lake Tahoe hotel forced two people to jump to safety from a second-story balcony and caused $2 million in damage, officials said Thursday.
The Nevada Gaming Commission signed off on a $100,000 fine leveled against the Aria for preventing gaming agents from watching a high-stakes roulette game last year.
The owner of slot machine route operator said Thursday his wife sold her stake in a potential Clark County medical marijuana dispensary, which eliminated any conflict with a regulatory request that gaming license holders stay away from the business.
Pinnacle Entertainment more than doubled the company’s net revenues in the second quarter, thanks to its $2.8 billion acquisition of a rival regional casino operator.