In 2010 Wynn considered moving his corporate headquarters from Las Vegas to the Chinese Special Administrative Region before abandoning the idea. Today, Macau is in a free-fall and it’s taking Wynn Resorts along for the ride.
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It’s clear the millennial generation aren’t fond of slot machines. They prefer Angry Birds over Blazing 7s. New gaming regulations headed for Nevada that will soon let gamblers do both.
Peter Erickson worries a suggested move by the Internal Revenue Service to lower the reporting level for gambling winnings will change his casino habits.
On game days for the Real Madrid soccer team, the area surrounding Estadio Santiago Bernabéu is an outdoor festival. Located near the city’s financial district, fans of the club gather with intense passion.
During the past decade, Penn National Gaming was named as a potential buyer of nearly every Strip resort that was for sale or rumored to be on the market.
Spain houses more than 200,000 slot machines countrywide. The payouts are not life changing for the customers and the gaming revenue doesn’t move the needle for operators.
Portugal and Macau are forever connected despite a separation of more than 6,800 miles. Much of the relationship hinged on controversial Hong Kong billionaire Stanley Ho. Thanks to Portugal, Ho owned a monopoly on Macau’s casino market for nearly 40 years.
While the recession knocked the California Indian casino market down a few notches — as it also did in Nevada — signs are afoot the Golden State’s tribal gaming industry is once again firing up.
MGM Resorts International had a busy March. On March 24, MGM officials broke ground on the company’s $800 million hotel-casino development in Springfield, Mass. A day later, MGM leadership celebrated the hiring of the 1,000th construction worker for the $1.25 billion MGM National Harbor in Maryland.
A debate over religious freedom and gay rights was not what Indiana’s challenged gaming industry needed. The state’s 13 casinos experienced a 10 percent decline in gaming revenue in 2014 partly because of new competition.
On his first quarterly earnings conference call as CEO of Full House Resorts, Dan Lee compared himself to the boy who came downstairs one Christmas morning hoping to find a pony.
A policy address by Macau’s top government official this week wasn’t the uplifting and positive message the casino industry and the investment community were hoping to hear.
A year ago, the gaming investment community didn’t pay much attention to Global Cash Access. Then, Global Cash Access stole the best little slot machine manufacturer in Texas.
Caesars Entertainment Corp. can’t seem to catch a break. Next month, New Orleans will ban smoking in most public venues within Orleans Parish, including bars, hotels, sports stadiums and restaurants (where the activity has been curtailed since 2007).
If we didn’t know better, one might believe the Chinese government is trying to sabotage Macau’s already sinking gaming market. Nine straight months of casino revenue declines, including a record 49 percent drop in February, are attributable to a government imposed crackdown on corruption. Apparently, more government restrictions are on the way.
The brewing proxy fight at Wynn Resorts Ltd. might be more entertaining than “Steve Wynn’s ShowStoppers,” the production of Broadway and movie songs now playing in the Encore Theater.
By next year, at least three casino companies will have traveled the path into the real estate investment trust market. A fourth is exploring the idea, and MGM Resorts International may join them on the trail.
GTECH Holdings is paying $6.4 billion to acquire International Game Technology, but the Italy-based lottery giant is taking on more than just “Wheel of Fortune” and the company’s other slot machine titles and products. GTECH wants the name IGT.
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.
There is no debate that Station Casinos had a strong finish to 2014, giving analysts hope that recovery in the Las Vegas locals gaming market is underway. Now, the investment community may want a piece of the action.
Legalizing sports betting in the U.S. would be bad news for local street-corner bookies and the Internet’s unregulated off-shore gambling market.
If California’s Internet poker debate was an actual card game, PokerStars just doubled up. But the European online gaming giant is still short-stacked against two of the state’s largest tribal casino operators in the company’s effort to gain a piece of California’s potentially lucrative — albeit nascent — Internet poker market.
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.
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.
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.