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!

North Las Vegas Strip Evolution Underway, Developers Moving Ahead with Major Projects

Fontainebleau becomes the Drew Las Vegas

On the North Las Vegas Strip, business may not quite be booming as of yet. But at least it’s not flatlining anymore, the way it has been for the last post-recession decade or so. New construction, enhancements, and upgrades are in the works, as developers ramp up plans to move ahead with several projects in…Read More

Gamers Loot Box, Skins Gambling Spend to Hit $50 Billion by 2022, Says Analyst

Clash Royale

A new report by Juniper Research suggests that consumer outlay on loot boxes and skins betting will rise 60 percent — to $50 billion a year by 2022 — and at least $48 billion of that will come strictly from loot boxes. Despite the backlash from the gaming community over the sudden preponderance of loot…Read More

Melco Resorts Purchases 20 Electric Buses for Macau, as Mass Market Focus Continues

Melco Resorts Macau electric buses

Melco Resorts has purchased 20 electric buses to transport guests around Macau, yet another sign that casinos in the enclave are transitioning their focus from the high-roller VIP to the mass market visitor. In a press release, the company says the purchase is in line with “sustainability” being “one of the top priorities of Melco…Read More

Cambridge Analytica Planned to Launch Own Cryptocurrency to Monetize Personal Data

Cambridge Analytica

Cambridge Analytica, the controversial firm at the center of the Facebook data harvesting scandal, planned to launch its own cryptocurrency that would enable adopters to profit from selling their own personal data. According to the The New York Times, before it became the focus of the world’s attention for all the wrong reasons, the company planned…Read More

Pennsylvania Casinos Set Monthly Record, Join Maryland, Ohio, and Michigan in Posting New Highs

Pennsylvania casinos monthly record

Pennsylvania casinos generated more than $300 million in gross gaming revenue (GGR) last month, the first time in state history that the threshold has been passed. The Pennsylvania Gaming Control Board (PGCB) released final numbers this week that showed gross table game revenue at $79.54 million in March, and slots accounting for $221.35 million. Combined,…Read More

Despite Scandal, Miss America Receives $4M Subsidy From Atlantic City’s Casino Reinvestment Development Authority

Miss America CRDA subsidy

Miss America is remaining in Atlantic City for at least another pageant. Despite a scandal that shook up the organization in December over derogatory emails sent and received by then-CEO Sam Haskell and two board members regarding former Miss America winners, the pageant was approved this week for $4.325 million in state funding. The New…Read More

Macau Gaming Analysts Like What They See, Predict ‘Sustainable’ Growth

Macau MGM Cotai Strip

Following a trip to Macau, gaming analysts at JP Morgan Securities say China’s enclave is well positioned to see continued growth throughout 2018. The financial services firm says the mass market continues to expand, and VIP play is strong. “All seems well and virtually everyone is feeling positive, across segments and across operators,” JP Morgan…Read More

Galaxy Entertainment Reportedly Searching for New Casino Site After Boracay Plans Bust

Galaxy Entertainment Boracay Island casino

Galaxy Entertainment is reportedly searching for a new spot to build its next casino resort after its $500 million plans on the Philippines’ Boracay Island recently came to a screeching halt. The Hong Kong-based casino operator led by billionaire Lui Che Woo is allegedly taking his half of a billion dollars and looking for a…Read More

Caesars Entertainment Enters Non-Gaming Space With Dubai Bluewaters Island Hotel Projects

Caesars Entertainment Dubai hotels

Caesars Entertainment has reached a deal to manage and operate two non-gaming resorts and a beach club on Dubai’s $1.6 billion man-made Bluewaters Island mixed-use retail, residential, hospitality, and entertainment space in the Persian Gulf. The project marks the company’s first foray into running a Caesars-branded hotel that isn’t accompanied by a casino floor. Like…Read More

Pro-Trump Super PAC Won’t Return $500,000 Steve Wynn Donation

Steve Wynn Donald Trump RNC

American First Action, a Super PAC supporting the reelection efforts of President Donald Trump, says it won’t be returning a $500,000 donation made by disgraced former casino owner Steve Wynn. Finance records from the Federal Election Commission (FEC) show that the political action committee received the half of a million dollars on January 23, 2018….Read More

Carl Icahn Sells Tropicana Entertainment, as Billionaire Exits Casino Business

Carl Icahn Tropicana Entertainment

Billionaire investor Carl Icahn is reportedly cashing in his casino chips and exiting the gaming business. On Monday, Icahn Enterprises announced it is selling Tropicana Entertainment and six of its eight casinos to real estate investment trust Gaming and Leisure Properties (GLP) in a transaction totaled at $1.85 billion. GLP is paying Icahn $1.21 billion,…Read More

Japanese Tourists Boost South Korean Casino Sector But China Package Tour Ban Remains in Place

South Korean casinos improved by better relations with Japan

South Korea’s casino industry has received a welcome shot in the arm from Japanese tourists who have been visiting the country in larger numbers than ever before in 2018. According to figures released on Monday by the Korea Casino Association, revenues in January and February reached $191.56 million, up 15.9 percent from the same period…Read More

Caesars to Build Harrah’s Northern California Near Sacramento

Caesars Harrah's Northern California

Caesars Entertainment has reached a deal with the Buena Vista Rancheria of Me-Wuk Indians to jointly construct a casino in California near the state capital of Sacramento under its Harrah’s brand. The Harrah’s Northern California gaming floor will measure 25,000 square feet, and offer 950 slot machines and 20 table games. The property will feature…Read More

China-Sanctioned Horseracing, Expanded Sports Lottery to Transform Hainan into Liberal Market Zone

Hainan province China gambling

In China, the promise of legal horse racing and expanded sports lotteries gave a significant boost to companies with links to the Chinese resort island of Hainan in early trading on Monday, following Beijing’s announcement over the weekend that the island would become a free trade zone. According to a set of guidelines published by…Read More

Playtech Makes Billion-Dollar Bet on Italian Market with Snaitech Acquisition

Playtech to acquire Snaitech

Playtech will establish a dominant presence in the burgeoning Italian gambling market through its biggest ever acquisition. The British online gambling software provider and financial trading group announced Wednesday it will pay $1.05 billion in cash and debt to take over the reins of Snaitech, one of Italy’s largest gambling operators. As well as its biggest,…Read More