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Credit Suisse Returns to Gaming Industry, Recommends Casino Real Estate Investment Trusts

Credit Suisse gaming casino stock

Credit Suisse, one of the world’s most important multinational financial services firms, is once again issuing guidance on the gaming industry. And despite a recent Wall Street selloff, the agency is rather bullish on several casino-related stocks. After poaching gaming analyst Cameron McKnight away from Wells Fargo, the Swiss financial services company unveiled recommendations on…Read More

Study: Regulated Sports Betting Will Attract Millennials, Increase Fan Engagement, Hurt Underground Bookies

legal sports betting millennials PASPA

A new study concludes that the expansion of regulated sports betting across the United States will increase fan engagement, grow younger demographics’ interest in pro and college events, and hurt illegal underground gambling rings. Commissioned by the American Gaming Association (AGA) and conducted by Nielsen Sports, the study found that 44 percent of current sports…Read More

Atlantic City Casinos Grow Gaming Revenue 13 Percent, But Is It Enough to Support Nine Resorts Long-Term?

Atlantic City casino revenue Hard Rock

Atlantic City casinos posted gross gambling revenue (GGR) of $302 million last month, an almost 13 percent year-over-year premium. But looking ahead, gaming industry analysts say larger growth is needed in order to support the expanded market. The nine casinos won $272.32 million on their land-based floors. Paired with online gambling ($25.89 million), the haul…Read More

Florida Gambling Amendment Turns Disney Lobbying Arm and Seminole Tribe Into Strange $10M Bedfellows

Disney casino Seminole Tribe Florida

Disney Worldwide Services and the Seminole Tribe of Florida continue to pump money towards passage of a constitutional amendment which would alter how state gambling laws are determined come November. Disney Worldwide is the lobbying arm of the mass media and entertainment conglomerate. The Seminoles are the primary gaming operators in the Sunshine State. And…Read More

Arkansas Casino Legalization Groups Accuse State Officials of Flawed Financial Analysis

Arkansas casinos

Advocates of legalizing casinos in Arkansas have accused state officials of trying to torpedo its proposed ballot measure with flawed statistics before it has even qualified for the November 6 general election. The State Department of Finance and Administration claimed this week that state coffers would be drained of $36 million in tax revenue in…Read More

Westgate SuperBook to Expand Brand Across US In Post-PASPA America

Westgate SuperBook

The Westgate SuperBook in Las Vegas is the biggest sports book in the world and it’s expanding to even greater levels thanks to the new gaming climate in the US. Westgate is planning to capitalize on opportunities from the US Supreme Court striking down the ban on state-sanctioned sports betting with a new company that…Read More

With MGM Springfield Smoke-Free, Connecticut Tribal Leaders Ponder Policy for East Windsor Casino

MGM Springfield East Windsor casino

MGM Springfield is opening August 24, but smokers will need to extinguish their flames before entering the $960 million premises. The Massachusetts Expanded Gaming Act passed in 2011 mandates that casinos maintain a smoke-free environment within the gaming establishment. For leaders of the Mohegan and Mashantucket Pequot Native American tribes, that presents them with one…Read More

Fremont Street Experience $32M Canopy Upgrade Coming in 2019, Part of Las Vegas Downtown Makeover

Fremont Street Experience canopy upgrade

The downtown Las Vegas Fremont Street Experience (FSE) will begin work on its planned $32 million upgrade to the district’s world-famous canopy in February of next year. Funding for the project comes from a $9.5 million grant from the Las Vegas Convention and Visitors Authority, and a $10.7 million tax-exempt bond issued by the Las…Read More

PokerStars Coming to Pennsylvania, Potential Major Win for American Online Poker

PokerStars Mount Airy Casino online gambling

PokerStars is on its way to Pennsylvania. The world’s busiest online poker room is partnering with the Mount Airy Casino Resort in the Pocono Mountains to enter the US’ fifth most populated state. Mount Airy’s partnership with The Stars Group, parent company to PokerStars, is also for online gambling and sports betting. Formerly known as…Read More

Kazuo Okada Claims Innocence in Corruption Investigation, Says Universal Running Smear Campaign

Kazuo Okada Manila scandal

Japanese billionaire Kazuo Okada is defending his reputation against corruption claims asserted by Universal Entertainment Corporation (UEC), the company he founded and made into one of Asia’s largest gaming groups. Following his arrest earlier this month in Hong Kong, the 75-year-old Okada is firing back at media speculation that the businessman has been charged with…Read More

Resorts World Catskills Reports $37 Million Q2 Loss

Resorts World Catskills

Resorts World Catskills opened in Upstate New York in February of this year with a promise to revitalize the area. Its launch was even heralded as “the rebirth of the Catskills.” But figures suggest the casino is struggling to make ends meet. The largest of New York State’s four commercial casinos — and the final…Read More

Crown Resorts Taking NSW Government to Court Over Views at Barangaroo Casino

Crown Resorts Barangaroo views

Crown Resorts is taking legal action against the New South Wales government, with the goal of stopping a proposed development that Crown says could disrupt the views at its Barangaroo luxury casino complex. The dispute is over developments taking place in Central Barangaroo, which were approved by the Barangaroo Delivery Authority (BDA). Crown says that allowing…Read More

Atlantic City Casinos Employ 30,000 Workers for First Time Since 2014

Atlantic City casinos Hard Rock

The nine casinos in Atlantic City collectively employed 30,217 people in July, the first time New Jersey’s gaming industry has surpassed the 30K mark in more than four years. The June openings of Hard Rock and Ocean Resort brought the town 7,741 new jobs, and took total employment in the Atlantic City gaming industry to…Read More

MGM Resorts Tacks on Mandatory 20 Percent Spa Service Charge, as Las Vegas Operators Continue Rubbing Guests Wrong Way

MGM Resorts spa service charge

MGM Resorts is no longer leaving spa tipping decisions up to patrons. Guests who wish to receive spa services will soon be forced to pay a 20 percent service fee, regardless of how good that service actually was, which is the whole idea behind an optional gratuity. The change will be implemented at all of…Read More

Arizona Mazatzal Casino Heist: Two Employees Charged with Armed Robbery at Their Own Casino Now in Federal Custody

Casino heist

Two Mazatzal Casino workers in Arizona who moved in on the cage of their own employers on July 17 shortly after midnight, brandishing firearms and shooting multiple rounds, are now in federal custody. Miraculously, no one was hurt in the attack. Men in Black The two men alleged to be involved were tracked down and…Read More

New York Lawmaker: MGM Resorts Should Withdraw October 1 Victims Lawsuit, Otherwise No Deal for Yonkers Casino

New York casino Empire City MGM lawsuit

New York State Senator Shelley Mayer (D-Yonkers) says if MGM Resorts doesn’t withdraw its lawsuit filed against victims of the October 1 mass shooting in Las Vegas, the state should block the casino company’s purchase of Empire City in Yonkers. Last month, MGM filed litigation in eight states against 1,000 victims. The lawsuit seeks to…Read More

Wedding Bells for Nevada Governor Brian Sandoval, Set to Marry Aristocrat Gaming Executive

Nevada governor Brian Sandoval will make a little bit of history when he marries Las Vegas native Lauralyn McCarthy this weekend. When the two say “I do” on Saturday, it will mark the first time in 154 years that a Nevada governor has heard wedding bells while actively sitting in office. The location is being…Read More

Stockton University Approves Atlantic Club Purchase, Demolition Expected for Boardwalk Property

Stockton University Atlantic Club campus

The Stockton University board of trustees voted unanimously in favor of giving President Harvey Kesselman the authority to negotiate a deal for the college to acquire the shuttered Atlantic Club Casino Hotel in Atlantic City. The closed Boardwalk property has sat vacant since 2014. With the board’s decision, Kesselman can now begin working with TJM…Read More

Caesars CEO Mark Frissora Buys Nearly $1M Worth of Company Shares

Mark Frissora Caesars stock

Caesars CEO Mark Frissora tried to calm investor fears last week after he revealed during the company’s second quarter conference call that Las Vegas was seeing softening demand. Though Caesars surpassed analyst expectations by reporting net income of $29 million between April through June, investors focused on Frissora’s comments that bookings were down in the…Read More

‘Loss-Making’ Fan Duel Contributes to Paddy Power Betfair’s Revised Earnings Forecast

Paddy Power Betfair CEO Peter Jackson

Paddy Power Betfair (PPB) has said that losses incurred by its US operations, the FanDuel Group, has forced it to revise its earnings outlook for the year. Meanwhile, a lucrative World Cup failed to offset higher betting taxes in Australia and disappointing revenues from horse racing. PPB said it expected its full year EBIDTA to…Read More

Steve Wynn Sexual Harassment Investigation by Wynn Resorts Wraps Up, Details Not Made Public

Wynn Resorts sexual harassment investigation

Wynn Resorts says its internal investigation into numerous sexual harassment allegations made against Steve Wynn — its founder and former CEO — has concluded, but the probe’s findings are not presently being disclosed. In filings made this week by the company with the Securities and Exchange Commission (SEC), Wynn Resorts said its internal investigation committee…Read More

Lady Gaga MGM Las Vegas Residency Shows Casino Operator A-List Entertainment Focus Expanding

Lady Gaga Las Vegas residency show

Lady Gaga will call MGM Resorts’ Las Vegas Park Theater home beginning December 28. MGM announced the deal on Tuesday, saying it has negotiated a Strip residency agreement with the pop superstar that will run for a minimum of 27 dates through to November 2019. Gaga Payday MGM didn’t say just how much Lady Gaga…Read More

New Downtown Las Vegas Sign Goes Retro, City Officials Embrace Vintage Showgirl Theme

Welcome to the City of Las Vegas sign

The entrance point to downtown Las Vegas from the Strip — just north of the Stratosphere — will be marked by a dramatic new sign welcoming visitors into the area for the first time officially on Tuesday. A pair of 26-foot-tall backlit showgirls will beckon northbound visitors into the City of Las Vegas, marking the…Read More

Stockton University Eyeing Shuttered Atlantic Club Casino for Campus Expansion

Stockton University Atlantic City campus

New Jersey’s Stockton University is reportedly considering buying the closed Atlantic City Casino Hotel in order to expand its Atlantic City campus. The Press of Atlantic City reports that the school’s board of trustees are meeting this week to discuss a potential acquisition of the Boardwalk property that closed in January of 2014. The media…Read More

Pennsylvania Casino Operator Mount Airy Announces Satellite Venue in Beaver County

Mount Airy Pittsburgh satellite casino

Pennsylvania casino operator Mount Airy says it’s building a satellite gaming venue in Beaver County some 30 miles northwest of Pittsburgh. One of four licensed gaming operators that secured Category 4 satellite venues through auctions held by the Pennsylvania Gaming Control Board (PGCB), Mount Airy is the first to announce formal plans for the facilities…Read More