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Macau Gaming Regulator Conducts Casino Storm Threat Drills as Typhoon Season Looms

Macau Typhoon

Macau’s gaming regulator, DCIJ, has conducted typhoon-response exercises with each of the gambling hub’s six big licensees in an effort to gauge the industry’s readiness for the approaching tropical storm season. The news follows a forecast last month by Macau’s Meteorological and Geophysical Bureau (MGB) that the region is likely to experience four to six…Read More

Casino Owner Twin River Rapidly Becoming Hedge Fund Favorite

Twin River Worldwide Holdings, Inc. (NYSE:TRWH), the owner of four casinos in three states, became a public company through its acquisition of Dover Downs Gaming & Entertainment, launching an initial public offering (IPO) on the New York Stock Exchange in late March. In just over three months as a public company, the owner of the…Read More

Churchill Downs Stock Has Its Own Triple Crown: Insiders, Institutions Love it, Earnings Are Soaring

Up more than 45 percent year-to-date, Churchill Downs Inc. (NASDAQ:CHDN), owner of the eponymous horse racing venue, is one of 2019’s best-performing gaming stocks. Several catalysts, including rising ownership among company insiders, indicate the shares could continue rising. High-ranking executives and board members accumulate a stock for one reason: because they believe it has upside…Read More

Mohegan Gaming Announces $9B Casino Resort Bid for Athens Hellinikon Airport

Mohegan Gaming Greece Athens casino

Mohegan Gaming and Entertainment, the casino unit of the Mohegan Tribe in Connecticut, is making a $9 billion bid for a casino resort complex in Greece. Greek conglomerate GEK Terna and Mohegan are teaming up for the project. The development plans call for luxury residences, hotels, yachting marina, and casino resort. The partnership says it…Read More

Illinois Riverboat Casino Regulations Author Discusses State Expanded Gaming, Chicago Bidders

Illinois Chicago casino gaming law

The lawyer who helped write Illinois’ riverboat casino regulations back in the 1990s spoke with Casino.org to discuss the state’s massive expansion of gaming signed into law last week. Donna More, a partner at Fox Rothschild LLP’s Chicago office, served as the first general counsel to the Illinois Gaming Board (IGB) in the 1990s. She…Read More

Eldorado Enthusiasm: Analyst Forecasts Epic Move in Stock After Caesars Deal

In June, Eldorado Resorts, Inc. (NASDAQ:ERI) said it is acquiring Caesars Entertainment Corp.(NASDAQ:CZR) for $17.3 billion, a purchase that is being met mostly with enthusiasm among analysts and investors. While there has been chatter that Eldorado is overpaying for the operator of casinos under the Caesars, Harrah’s and Horseshoe brands, among others, analysts see significant…Read More

Following Las Vegas Sands Pennsylvania Sale, Expected Windfall Becomes a Trickle For Bethlehem

Bethlehem, Pennsylvania was expecting a windfall of cash when Las Vegas Sands sold its casino there earlier this year to the Poarch Band of Creek Indians. Instead, the town in the eastern part of the state will get a sprinkle, financially speaking. Sands’ $1.3 billion sale of Sands Bethlehem to the Poarch Band of Alabama,…Read More

Caesars Entertainment Shareholders Approve Carl Icahn Board Members, Vote to Review Compensation Annually

Caesars Entertainment board Carl Icahn

Caesars Entertainment investors have formally approved of several board of directors handpicked by billionaire Carl Icahn who will help lead the company through its $17.3 billion acquisition by Eldorado Resorts. In filings made with the US Securities and Exchange Commission (SEC), Caesars reveals Icahn Enterprises CEO Keith Cozza, Icahn Capital Portfolio Manager Courtney Mather, and…Read More

Illinois Gov. Vows to Beat Wisconsin’s Ho-Chunk Nation with Fast-Tracked Rockford Casino

Rockford casino

The Ho-Chunk Nation has been angling to build a casino in the City of Beloit, Wisconsin for the best part of two decades. Now, with the Nations’ casino dreams in the hands of the Department of the Interior, Illinois Gov. J.B. Pritzker hopes to beat the Ho-Chunk to the punch with a casino just across…Read More

July 4th Holiday Expected to Attract 330K Visitors to Las Vegas, Record US Travel Forecasted

July 4th Las Vegas holiday casino

Travel experts say this week’s July 4th holiday falling on a Thursday will lead to increased tourism across the country. For Las Vegas, Independence Day is expected to draw 330,000 people to town. If that number is realized, it will be a roughly one percent premium on July 4th last year. Visitation tends to increase…Read More

Judge Rules Against Harrah’s New Orleans, Casino Must Pay Hotel Comp Taxes

Harrah's New Orleans casino hotel

Harrah’s New Orleans has lost a lawsuit in Louisiana state court arguing it wasn’t legally required to pay taxes on discounted or comped hotel rooms. Judicial Court Judge William Morvant said otherwise. The judge ruled that Harrah’s and parent company Caesars Entertainment should have been paying taxes dating back to 2001 on free or reduced-rate…Read More

Analyst Trims Wynn Earnings Estimates, Price Target, But Remains Optimistic

David Katz of Jefferies, one of the most widely followed gaming and leisure analysts on Wall Street, pared earnings estimates and his price target on shares of Wynn Resorts, Ltd. (NASDAQ:WYNN), but remains bullish on the stock. In a recent note provided to Casino.org, the analyst revised his 2019 earnings per share (EPS) estimate on…Read More

AGA President Bill Miller Says Next Five Years in Gaming Industry More Complex Than Last Three Decades

casinos AGA Bill Miller gaming industry outlook

American Gaming Association (AGA) President Bill Miller says the next five years could be more important – and perhaps more exciting – for the gaming industry than the last three decades combined. It’s a big statement, and one he made while sitting down recently with the Las Vegas Sun. Gaming reporter Bryan Horwath asked the…Read More

Japan Trade Groups Step up Pressure on Yokohama Mayor as Integrated Resort Opposition Grows

The Yokohama Harbor Transport Association and the Yokohama Harbor Resort Association are intensifying pressure on the city’s mayor, Fumiko Hayashi, to oppose an integrated resort in Japan’s second-largest city. Ten months ago, Yokohama garnered at least a dozen proposals from casino operators following a request for information (RFI) round. Among the well-known gaming companies participating…Read More

Mississippi Casino Cashier Cage Ransacked by Alleged Robber, Marks Yet Another Southern Riverboat Crime

Mississippi casino riverboat robbery

Police say a Mississippi casino was targeted in a robbery on Sunday morning, but the 44-year-old man was apprehended when he rushed the cashier cage at the Ameristar riverboat. The Vicksburg Police Department says Edwin Berrell Adams of Madison has been charged with a felony for malicious mischief. Officers say the man leaped over the…Read More

Illinois to Become ‘Gambling Capital of the Midwest’ as Governor Signs Massive Expansion Package

Chicago casino

Illinois governor J.B. Pritzker on Friday signed a gambling package that will establish a huge casino in Chicago, as well as five smaller regional casinos in the southern suburbs. It’s a feat lawmakers and a succession of Chicago mayors have been trying to pull off unsuccessfully for years. Part of a broader spending package that…Read More

Wynn Resorts CEO Matt Maddox Perfectly Fine Being Watched by Massachusetts Regulators

Wynn Resorts Matt Maddox Encore Boston

Wynn Resorts CEO Matt Maddox – the longtime protégé of billionaire Steve Wynn who assumed the position following the Las Vegas casino tycoon’s alleged sexual misconduct scandal – will be monitored by a state-appointed official in Massachusetts for the next three years. And the chief executive of one of the world’s largest gaming companies is…Read More

US, China Trade Detente Sparks Rally in Shares of Macau Gaming Operators

Buoyed by a strong June gross gaming revenue (GGR) report out of Macau and news that trade tensions between the US and China are thawing, shares of US casino operators with significant China exposure rallied Monday. In midday trading, shares of Las Vegas Sands Corp. (NYSE:LVS) were up 4.54 percent, putting the stock on pace…Read More

Macau Casino Revenue Jumps Nearly Six Percent, Marks Second Monthly GGR Gain

Macau casino revenue GGR

Macau casinos reported gross gaming revenue (GGR) of MOP 23.81 billion (US$2.96 billion) in June, a 5.9 percent gain on the same month in 2018. June marked Macau’s second consecutive monthly GGR increase, and exceeded expectations among gaming analysts. Financial firms Sanford C. Bernstein and JP Morgan both said the month outpaced revenue forecasts, and…Read More

In Effort to Lure High Rollers, MGM Springfield Will Replace Starbucks With VIP Area

As part of its plan to bolster gross gaming revenue (GGR) that is falling short of expectations, MGM Springfield will replace a famous coffeehouse with a dedicated gaming area for high-rollers. Thursday, June 27 was the last day of business for the Starbucks in MGM Springfield’s lobby, which will be replaced with a lounge aimed…Read More

Macau Casinos Implement AI Technology to Identify Biggest Losers, Pinpoint VIP Gamblers

Macau casinos AI artificial intelligence

Macau casinos have been rolling out artificial intelligence (AI) technologies in order to monitor habits of patrons and quickly identify those individuals who are likely to spend, and lose, big. Make no mistake, the AI implementations aren’t tailored to protect gamblers. Instead, the technology is to aid the casino in pinpointing its VIPs and making…Read More

The 13 Macau Sells 24 Rolls-Royce Phantoms at Deep Discount, Troubled Resort Still Planning Casino

The 13 Macau casino resort Rolls-Royce

The 13 Macau, the non-gaming resort that opened last September south of the Cotai Strip, has sold 24 of its 30 cherished Rolls-Royce Phantoms at a deep discount in order to pay down a small sliver of its considerable debt. In filings with the Hong Kong Stock Exchange, parent company South Shore Holdings said the…Read More

Rolling the Dice on MGM Resorts Stock in July: Historically, It’s a Winner

MGM Resorts International (NYSE:MGM) stock surged 12.75 percent in June, beating the S&P 500 by a margin of 2.55-to-1. And if data from years past proves accurate, shares of the Mirage operator could extend their winning ways in July. Over the past decade, MGM Resorts has been one of the best-performing members of the S&P…Read More

American Gaming Association Announces Leadership Changes to Casino Lobbying Group

American Gaming Association Sara Slane

The American Gaming Association (AGA), the leading casino lobbying group in DC, has announced several changes to its organization’s leadership, most notably three new senior vice presidents. In a release, AGA President Bill Miller announced the departure of Senior VP of Public Affairs Sara Slane. The industry professional is resigning to form her own strategy…Read More

Penn National Sees More Peril, Problems Than Potential in Chicago

Penn National Gaming, Inc. (NASDAQ:PENN) probably won’t be among the casino operators vying to land a gaming license in Chicago. Earlier this month, Illinois passed wide-ranging gaming legislation, approving sports betting and slot machines at Chicago’s Midway and O’Hare International airports while paving the way for six new casinos to be opened across the state….Read More