World's online gaming authority since 1995

Financial News

Money makes the world go around and we take a look at how it keeps the gambling world spinning. Whether it relates to mergers, buyouts, financial disasters, or gaming companies becoming more solid, we have it in this category.

Many might think the subject a little dry, but it’s always good to know the financial status of any gambling site you are playing at. Ignore it, and you might find that withdrawing your winnings becomes difficult – because the site no longer has any cash!

Massachusetts Lottery Benefiting From Plainridge Park, But MGM Springfield Presents Concerns

Massachusetts Lottery MGM Springfield

The Massachusetts Lottery is a $5 billion a year business, and the state official responsible for counting money from the games says the expansion of commercial casino gambling hasn’t cannibalized revenues. When the state passed its Expanded Gaming Act in 2011, Massachusetts Treasurer Deborah Goldberg voiced concerns on whether the three full-fledged casinos and slots…Read More

Newest Jeju Casino Towers Over Competition Despite Dispute With China

Jeju casino

The Jeju Shinhwa World casino and resort may be the new kid on the block, but it’s already established itself as the big bully to be reckoned with. The latest figures show that the newest casino on South Korea’s Jeju Island, located about 45 miles south of the mainland, is not only off to a…Read More

MGM Springfield August 24 Opening Has Law Enforcement on High Alert

MGM Springfield casino security

MGM Springfield will officially open its $960 million doors next week on August 24 at 11 am ET. When it does, law enforcement will have a heightened presence around the property during its first week in operation. Local officials detailed security procedures on Wednesday in an effort to assure the community that safety is of…Read More

The 13 Macau Receives Hotel License, Will Open Without Casino

The 13 Macau hotel casino Cotai

The 13 Macau has finally received a license to operate as a hotel. The long-delayed project being built south of the Cotai Strip was issued its permit from the Macau Government Tourism Office (MGTO) this week after a subsequent inspection found it ready to welcome guests. The $1.6 billion resort missed yet another self-proclaimed opening…Read More

ChainXChange Las Vegas Sees Future of Cryptocurrencies Subject of Heated Debate by Advocates and Skeptics

ChainXChange conference

Whether you think Bitcoin is the future of payment processing or you believe that cryptocurrencies are a flash in the pan that will never gain wide acceptance in the real world, you were likely to hear something that you agreed with at the ChainXChange conference in Las Vegas. The first edition of ChainXChange, held from…Read More

Rank Group’s Grosvenor Casinos Squeezed by AML Clamp Down, Weird Weather, and Lucky High Rollers

Rank Group

The UK’s biggest casino operator, Rank Group, said that the tightening of financial checks on high rollers and a spate of extreme weather in the British Isles — both hot and cold — contributed to a 41 percent drop in profits in the full year to June. It also suffered from a large dose of…Read More

Nigel Eccles, Other FanDuel Founders Suing Preferred Shareholders for $120M

Nigel Eccles FanDuel lawsuit

Nigel Eccles and his fellow FanDuel founders are suing the company’s preferred shareholders for more than $120 million, saying that the daily fantasy sports firm was purposely undervalued when Paddy Power Betfair (PPB) acquired it earlier this year. Eccles is joined in the lawsuit by his wife Lesley Eccles, Tom Griffiths, and Rob Jones. All…Read More

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

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

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 Sun and Mashantucket Pequot Native American tribes, that presents them with…Read More

Macau’s Dragon Coin Linked To Finnish Millionaire’s $24 Million Loss in Bitcoin Scam

Dragon Coin crypto scam

A Finnish crypto-millionaire has been scammed out of $24 million-worth of bitcoin by a Thai gang promising investment in Dragon Coin, the casino cryptocurrency launched by Macau’s Dragon Corp. As reported first by the Bangkok Post, Aarni Otava Saarimaa, 22, claims he was approached by a group of people in June last year, offering investment…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

IMF Report: Macau Will Pass Qatar to Become Richest Jurisdiction on Earth by 2020

Macau wealth IMF

Over the past 15 years, Macau has enjoyed a meteoric rise to become the undisputed leader in casino gaming. Now, the International Monetary Fund (IMF) says that the territory is about to rise to the top of another list: the richest places on the planet. According to the IMF’s World Economic Outlook Update, Macau is…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