There is a reason analysts spent about 40 minutes questioning Las Vegas Sands Corp. officials last week about the company’s results in Macau. More than half of the company’s quarterly revenue came from its Macau resorts.
Casinos & Gaming
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Bills for and against Internet gaming continue to surface in statehouses and Congress, which means more billable hours for the lobbying sector. But so far, the return on investment for casino operators hasn’t been the billion-dollar windfall some predicted.
The ink was hardly dry on lottery giant Scientific Games Corp.’s $1.5 billion buyout of slot machine manufacturer WMS Industries when the corporate management team was shaken up with a new CEO and chairman in November. An even larger transition could come later this year.
Harsh winter weatheres kept casino patrons at home in several states where companies such as Penn National Gaming, Isle of Capri Casinos, Pinnacle Entertainment and Boyd Gaming Corp. derive the bulk of their quarterly revenue.
Word is that the U.S. Treasury Department may soon require the casino industry to report the source of gambling funds used by their big spending high-rollers. The move is part of a stepped-up federal effort to crack down on money laundering.
The Salt River-Pima Indian Community has a real estate footprint in this city, 20 minutes east of downtown Phoenix, that makes the 67-acre CityCenter look like a strip mall.
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