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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!

Mega Millions Losing Tickets Earn Free Slot Play at Las Vegas Casino

Mega Millions jackpot Powerball lottery

The Mega Millions odds are strongly in the player’s favor tonight… for losing the $2 spent on the ticket. But one Las Vegas casino says gamblers can bring in their worthless lottery slips and cash in. The Plaza is downtown Las Vegas is offering up to $25 in free slot play for Mega Millions tickets…Read More

Macau Rides Golden Week Wave Again As Casinos Expect Healthy Wins In October

Gross gaming revenue in Macau for the month of October is expected to surpass the monthly total from last year, in which October was the most fruitful month of revenue for Macau casinos in 2017. It’s a sign that the Chinese territory known for its casino industry is well on its way to recovery after…Read More

Unclaimed Gambling Winnings Fund Jackie Chan Movie in Australia

gambling winnings Jackie Chan movie

Unclaimed gambling winnings in New South Wales (NSW), Australia, were used by the state government in 2016 to help fund a Jackie Chan sci-fill thriller titled “Bleeding Steel.” The Sydney Morning Herald reports that an $850,000 grant was provided by the state’s Community Development Fund (CDP), which is financed through unclaimed gambling winnings. Known as…Read More

Macau to Hong Kong Bridge Opens, New Casino Bus Service Announced

Macau bridge Hong Kong casino

The $20 billion Macau to Hong Kong bridge is officially open for traffic, and after reports suggesting otherwise, it now appears that a certain number of charter busses catering to the enclave’s widespread gaming industry will indeed be permitted to traverse the world’s longest sea-crossing structure. GGRAsia, a media outlet focused on Asian gaming, reports…Read More

Affinity Gaming Proposes $132.5M Full House Resorts Takeover, But Offer Rejected

Affinity Gaming Full House Resorts

Affinity Gaming, headquartered in Paradise, Nevada, has made Full House Resorts a $132.5 million offer to acquire its company and five regional casinos. Full House, a publicly traded gaming operator based in Summerlin, Nevada, owns two casinos in Nevada (Stockman’s in Fallon and Grand Lodge in Incline Village), and one each in Colorado, Indiana, and…Read More

Horseshoe Casino Baltimore Announces Partnership With NFL Ravens

Horseshoe Casino Baltimore Ravens

The Horseshoe Casino in Baltimore has reached a marketing partnership with the city’s NFL franchise Ravens to develop the area around the team’s M&T Bank Stadium. The deal will allow the Caesars Entertainment casino to utilize the Baltimore Ravens’ trademarks and logos. The two entities say the arrangement is part of an effort to develop…Read More

Mega Millions Now Richest Lottery Jackpot in World History

Mega Millions odds lottery jackpot

The Mega Millions jackpot is now $1.6 billion after no players selected the correct six numbers on Friday. Already the largest jackpot in Mega Millions history, the grand prize has now ventured into unchartered territory, as lottery officials say the $1.6 billion number is a new world record. “Mega Millions has already entered historic territory,…Read More

New Debt-Averse Caesars Entertainment to Reject Golden Nugget Merger Offer

Caesars

The Caesars Entertainment board is expected to unanimously reject a reverse merger proposal from Tillman Fertitta’s Golden Nugget, according to New York Post sources. Billionaire Houston Rockets owner Fertitta is understood to have approached Caesars about a possible combination of the two casino empires earlier this month. Fertitta also owns the Landry’s restaurant chain. The…Read More

Rank Group Reports Grosvenor Casinos Slump, While GVC Buoyed by World Cup

Grosvenor casinos

The UK’s biggest casino operator, The Rank Group, reported a slump in earnings as high-rollers ditched its Grosvenor Casinos chain in in the 16 weeks to October 14. In a trading update, the group blamed a reduction in handle — the volume of bets placed — as well as lower margins from high-spending customers for…Read More

DeClub Macau Plans to Build World’s First Blockchain-Based Cashless Casinos Following $1 Billion ICO

DeClub

The first blockchain-powered land-based casinos could be on the horizon, if an ambitious new venture involving Macau-based casino management company DeClub and a Malta-based investment firm called Wide Rich Global Company comes to fruition. According to an official statement from DeClub, Wide Rich is planning an initial coin offering (ICO) in an effort to raise…Read More

Legal Sports Betting Will Pump Billions Into Big Four Pro Leagues

sports betting revenue NFL MLB NHL

The NFL, MLB, NBA, and NHL stand to collectively see revenues grow by more than $4 billion thanks to the liberalization of sports betting in the United States. That’s according to a new study from Nielsen Sports commissioned by the American Gaming Association (AGA). The research analyzed revenue streams that will most benefit from the…Read More

Analysts: Proposed Caesars Entertainment and Golden Nugget Merger Would Benefit Both Companies

Caesars Entertainment Golden Nugget merger

Wall Street analysts says a Caesars Entertainment and Golden Nugget merger would be beneficial to both companies after rumors emerged that billionaire Tilman Fertitta made a reverse offer for the casino giant. Earlier this week, news broke that Fertitta had offered Caesars Entertainment $13 per share to combine his five Golden Nugget casinos with the…Read More

Stanley Ho Son Arnaldo Revives Macau Cotai Strip Resort Project

Stanley Ho Macau casino resort

Stanley Ho’s son Arnaldo Ho is reinitiating plans to build an HDK $5 billion ($638 million) integrated resort on the Macau Cotai Strip after local authorities moved in to seize the land where it is to be built. Originally envisioned as a nongaming integrated resort with a theme park known as “Hello Kitty,” Ho now…Read More

Pennsylvania Casino Revenue Stagnant, as Gaming Expansion Continues in Commonwealth

Pennsylvania casino revenue dropped nearly one percent last month at the state’s 12 casinos, and that poses problems as gaming expansion continues across the Commonwealth. Table games revenue fell 4.37 percent in September to $72.3 million, while gross gaming revenue (GGR) from slot machines increased 0.4 percent to $169.2 million. Combined, the casinos won $268.5…Read More

Studio City Macau Devoured on NASDAQ, as Melco Tries to Rebound From 2018 Stock Woes

Initial returns for Melco Resorts and Entertainment — owner of Studio City Casino in Macau — from its recently filed initial public offering (IPO) to sell shares of Studio City on the NASDAQ show the company sold $359 million worth of stock since filing with the Securities and Exchange Commission (SEC). Studio City shares sold…Read More