Wynn Resorts has dropped all claims against co-founder Kazuo Okada as new Chief Executive Officer Matt Maddox seeks to end a six-year lawsuit and focus his energy on company operations.
Casinos & Gaming
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The American Gaming Association believes $10 billion will be bet on the NCAA “March Madness” basketball tournament that begins this week and only 3 percent of that will be wagered legally.
Casino giant Caesars Entertainment is threatening to drop plans for building a new on-land casino in southern Indiana while arguing it shouldn’t be forced to pay a $50 million state fee for acquiring two horse track casinos near Indianapolis.
Gov. Brian Sandoval’s Gaming Policy Committee, in record time last week, approved a resolution affirming the state’s stance on the use of marijuana in gaming establishments in what was likely the last policy group assembled under his watch.
Electronic dance music and high-priced DJs continue to generate “great profits” for Las Vegas nightclubs and are not going anywhere anytime soon, said Hakksan Group Chief Executive Officer Nick McCabe.
Hakkasan Group, the Las Vegas-based lifestyle company that keeps people partying from morning to night, now wants to care for guests round the clock, too.
Lawyers for Kazao Okada on Friday said the Japanese businessman was shocked by the $2.4 billion settlement reached a day earlier between Wynn Resorts and his Universal Entertainment Corp.
Las Vegas Sands Corp. has joined other Strip operators in raising resort fees.
A convicted crook with a penchant for ripping off elderly casino patrons by distracting them at casino redemption kiosks and ATMs has been nominated to the state Gaming Control Board’s List of Excluded Persons, frequently referred to as Nevada’s “black book.”
Wynn Resorts has agreed to pay Okada the $1.94 billion principal amount on his redemption note, the company said in a statement Thursday after the market closed.
Shares of Wynn Resorts Ltd. were one of the strong gainers Thursday on Wall Street.
An Alabama Indian tribe with diverse casino holdings, including a property in Gardnerville, is buying the Sands Bethlehem in eastern Pennsylvania for $1.3 billion from Las Vegas Sands Corp.
London-based IGT rode a stronger-than-expected fourth quarter and benefits from the U.S. tax reform to top analysts’ projections and finish 2017 at the high end of the company’s cash flow guidance.
Caesars Entertainment Corp. said Wednesday that its Las Vegas revenue fell in the fourth quarter following the Oct. 1 massacre but the company gave an upbeat outlook for 2018.
The state Gaming Control Board on Wednesday recommended that the Nevada Gaming Commission enact amendments affecting club personnel and properties with at least one nightclub or dayclub.
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