Back in 1996, when Michigan voters authorized three casinos in downtown Detroit, opponents said legal gambling would destroy the city. Detroit is now bankrupt.
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They used to joke about being twins separated at birth. Gavin Isaacs and Ramesh Srinivasan held co-chief operating officer titles at slot machine giant Bally Technologies during the company’s stunning growth in the past decade. Isaacs oversaw slot machine development and sales. Srinivasan managed the systems division.
Casino developers — including MGM Resorts International, Las Vegas Sands Corp. and Wynn Resorts Ltd. — will spend some $22 billion on massive new resorts and gambling complexes in Macau over the next four years.
The Empire put a hit on the Mafia and buried the farm. Two years after Caesars Entertainment Corp. perplexed Wall Street by acquiring social gaming operation Playtika, the casino giant has moved past rival Zynga Inc. to the top of the business model.