London-based IGT, once a slot machine manufacturing force based in Nevada, struggled along with the rest of the gaming industry with widening losses and a revenue drop.
Casinos & Gaming
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Golden Entertainment’s six-deck replica of a Mississippi River paddlewheel boat on the Colorado River will keep its doors shut when casinos are allowed to reopen soon.
The 17,000-seat, $1.66 billion, state-of-the-art entertainment venue won’t open in 2021, as originally planned.
The Reno-based regional casino operator with 23 casinos in 11 states, including Nevada, will reopen in Louisiana after closing because of the COVID-19 pandemic.
The state’s gaming tax is calculated based on a percentage of a casino’s win. Lost winnings means lost general fund tax revenue that supports government functions from schools to public safety.
Casino industry analysts expect casinos to be among the first to come back, but the product is going to look different than it did before the virus shutdown.
Betting on a stock market rebound, 16 directors and executives of MGM Resorts International acquired company shares, according to an SEC filing.
Representatives of the 300,000-member union scheduled a news conference Wednesday to call for decisive action in the wake of casino and business closures.
The proposal would add a fourth tier to the state’s gaming tax, 9.75 percent on all monthly gross revenue of more than $250,000.
While travel and tourism has experienced 120 months of economic growth, U.S. market share has fallen behind international competitors who market more vigorously.
Panelists in 2019’s final G2E education session discussed trends in nongaming amenities, from nightclubs to the prospect of hosting Los Angeles’ quirky Two Bit Circus.
The Wynn Las Vegas salon director who was a source in the Wall Street Journal’s report on alleged sexual misconduct by Steve Wynn has filed an invasion of privacy lawsuit.
When the Massachusetts Gaming Commission ordered an independent monitor to oversee Wynn Resorts issues, it didn’t consider that the problem may already have been solved.
Work crews are now on the job 24/7, pressing to complete the 1.25 million-square-foot hotel-casino project and open the doors by December 2020.
Australia-based slot machine manufacturer Aristocrat Technologies, which opened a $45 million campus in Summerlin in December, is downsizing its design and development division worldwide.