7584 stories by Devin O'Connor
GVC Holdings CEO Kenneth Alexander Slashes Salary by $188K, Base Pay Still $1M
GVC Holdings CEO Kenneth Alexander has announced a reduction in his base pay in what's being viewed as an effort to appease disgruntled investors ahead of next week's annual shareholder meeting. Alexander volunteered to have his basic salary reduced from £950,000 to...
Billionaire James Packer Selling Melco Resorts 20 Percent Stake in Crown for $1.22B
Melco Resorts has entered into an agreement to purchase a nearly 20 percent ownership stake in Australian casino giant Crown Resorts in a deal that's valued at $1.22 billion. Less than two months after Wynn Resorts withdrew an offer to buy Crown,...
Sands Bethlehem Casino Sale to Alabama Tribe Approved by Pennsylvania Gaming Regulators
The $1.3 billion sale of Sands Bethlehem to a Native American tribe based in Alabama has been approved by the Pennsylvania Gaming Control Board (PGCB). The PGCB unanimously signed off on the ownership change from Las Vegas Sands to the Poarch Band...
Japanese Officials Concerned Country Lacks Adequate Problem Gambling Safeguards Ahead of Casino Liberalization
Problem gambling is a critical concern in the minds of many in Japan, as the country inches closer to legalizing three commercial integrated casino resorts. Hundreds of people representing 34 countries are in Las Vegas this week for the four-day UNLV International...
Las Vegas Casinos Continue to Struggle, Push Statewide Gaming Revenue Down 1.8 Percent
Las Vegas casinos are struggling through the first four months of the year, and the Strip's reduced gross gaming revenue (GGR) is hurting the industry statewide. Data released this week by the Nevada Gaming Control Board (NGCB) reveals that GGR on the...
Harrah’s New Orleans Wins 30-Year Extension, Casino to Invest $325M in Upgrades
Harrah's New Orleans, the state's only land-based casino, has been granted a 30-year license extension by Louisiana lawmakers in exchange for $325 million in property upgrades. Following approval in the state House, legislation that will extend the casino's operating license until 2054...
Massachusetts Lawmakers Begin Sports Betting Discussions, State Casinos Say Sportsbooks Critical
Lawmakers in Massachusetts began two days of discussions on Tuesday to decide whether to legalize sports betting across the commonwealth. The Massachusetts legislature's Joint Committee on Economic Development and Emerging Technologies is hosting the hearings. The 20-member panel is tasked with considering...
US-China Trade War Continues Punishing Gaming Industry Stocks
The ongoing trade war between the United States and China continues to hurt gaming industry stocks, especially those companies invested in Macau. Las Vegas Sands, Wynn Resorts, and MGM Resorts are the three US-based casino operators that have properties in Macau, the...
Macau Unemployment Rate Just 1.7 Percent, as Gaming Industry Continues Hiring Spree
Macau is the world's richest gambling mecca, and the gaming industry is providing plenty of well-paying jobs for locals. Data released this week by the Special Administrative Region's (SAR) Statistics and Census Service reveals that unemployment between February through April fell 0.2...
Greece Extends Bidding Period for Athens Casino, US Gaming Operators Losing Interest
Greece announced this week that the bidding period for its lone Athens casino license is being extended by a month, with the new deadline now June 28. The delay is the latest setback for the capital city's redevelopment following the country's post-bailout...
