Macau’s top gaming regulator Manuel Neves is stepping down from his post in the world’s largest casino hub, the Chinese territory’s government said, at a time when its revenues are plummeting and the growth outlook looks weak in the coming year.
Casinos & Gaming
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Statewide and Strip gaming revenue ended a three-month slide in September.
MGM Resorts International said Thursday it will place 10 of its properties — including seven on the Strip — into a real estate investment trust that will be 70 percent owned by the casino giant, but will also offer the company “strategic and financial benefits.”
When a bankrupt operating unit of Caesars Entertainment went on the market earlier this month, the package consisted of 38 casinos, including Caesars Palace on the Strip. But those watching the sale have focused more on what isn’t being offered.
Batman and Wonder Woman are just some of the superheroes casino operator Melco Crown Entertainment Ltd. is deploying at its new $3.2 billion casino in Macau, which opened Tuesday in the midst of a sharp downturn for the Asian gambling playground.
There are at least 1.3 billion reasons why the operators of DraftKings and FanDuel are beginning to sweat.
Former U.S. District Judge Philip Pro was named to the Nevada Gaming Commission on Monday to fill out the remaining term left vacant by the resignation of Pat Mulroy earlier this month.
Reno-based Eldorado Resorts said Monday it reversed a third quarter net loss despite an overall decline revenue.
Caesars Palace, which marks its 50th anniversary next year, is spending almost four times the original cost to build the Strip resort in order to remodel the property’s first hotel tower.
Boyd Gaming Corp. isn’t planning on jumping into the daily fantasy sports business, the casino operator’s CEO said Thursday.
Southwest Airlines, buoyed by low fuel costs, smashed financial records left and right Thursday, reporting profits of more than half a billion dollars in the company’s third quarter.
Regional casino operator Penn National Gaming will restate its quarterly financials going back to the November 2013 spinoff of real estate investment trust Gaming and Leisure Partners, the company said Thursday.
Las Vegas Sands Corp. said Wednesday its earnings and revenue declined in the third quarter as the company’s Macau business drove down results. Adelson, the casino operator’s billionaire chairman and CEO, called the Macau operating environment “challenging.”
Caesars Entertainment’s bankrupt operating unit can keep exclusive control over its bankruptcy until March 15, a U.S. bankruptcy judge ruled on Wednesday, giving the casino group its second extension filing for chapter 11 protection in January.
Once again, casino legislation in Japan appears dead. Union Gaming Group Managing Partner Grant Govertsen said the Japanese legislative body decided not to hold a special session this fall, meaning gaming expansion is off the table for 2015.
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