8322 stories by Devin O'Connor
New Jersey Threatens Lawsuit Against Department of Justice Over 2019 Wire Act Opinion
New Jersey State Senate President Stephen Sweeney (D) is warning the US Department of Justice that a lawsuit is coming unless the agency's latest opinion on the federal Wire Act is rescinded. In a letter dated February 13 to DOJ Deputy Attorney...
Billionaire Carl Icahn Pressuring Caesars Entertainment to Sell Company
Billionaire Carl Icahn is pushing Caesars Entertainment to consider selling its casino empire to a rival in an effort to improve management and increase value for shareholders. The Wall Street Journal spoke with people close to the corporate raider who are familiar...
Michael Bloomberg Prepared to Outspend Sheldon Adelson to Block President Trump Re-Election
Billionaire Michael Bloomberg is preparing to spend $500 million to make sure President Donald Trump doesn't win re-election. That won't sit well with Las Vegas Sands CEO Sheldon Adelson, who was the top political donor on either side of the aisle during...
China Lowers Economic Growth Target, Macau Casinos Prepare for Slowdown
China has lowered its economic growth target for 2019 to 6-6.5 percent, which would be the country's lowest expansion in 29 years. As a result, Macau casinos are bracing for a slowdown. The People's Republic of China reported last month that 2018...
Showtime Announces Four-Part Sports Betting Docuseries ‘Action’
Showtime Sports Documentary Films will air a four-part docuseries next month that focuses on the world of professional sports betting. "Action" chronicles the lives of professional gamblers and sports bettors, handicappers, and oddsmakers. One of the reality series' stars is "Vegas Dave,"...
US Domestic Commercial Casinos Win Record $42.7B in 2018
Domestic commercial casinos in the United States won nearly $42.7 billion last year, a roughly four percent increase on 2017 and the gaming industry's highest total ever. The Adams Revenue Revue, prepared by Reno-based gaming analyst and consultant Ken Adams for CDC...
Osaka Prefecture Officials Say Interested IR Operators Will Need $8.5B
Officials in the Osaka prefecture and capital city say interested casino operators hoping to bid with the region for one of the three federal integrated resort (IR) licenses will need a capital investment of $8.5 billion. The "Osaka IR Fundamentals Plan," released...
Analysts Say MGM Resorts Benefiting From Higher Las Vegas Strip Room Rates
JPMorgan and Credit Suisse analysts say MGM Resorts is benefitting in 2019 from higher room rates at several Las Vegas Strip properties. The two financial services firms say in a note published Monday that room rates for the casino operator are between...
Arkansas Casinos Could Help State Highways After All, Gov. Includes Gaming Revenue in $300M Funding Plan
Four Arkansas casinos were authorized under a voter referendum that passed last fall, and now it appears some of the new forthcoming tax revenue generated by the gaming floors could be used to help repair state roads. Arkansas Governor Asa Hutchinson (R)...
Macau Visitor Arrivals Up 27 Percent During Chinese New Year, More Than 1.2M Tourists Travel to Enclave
Macau visitor arrivals and gross gambling revenue (GGR) don't necessarily go hand in hand, but a 27 percent tourism surge during the Chinese New Year is certainly good news. The Macau Government Tourism Office (MGTO) reveals that more than 1.2 million people...
