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!

Iowa Racing and Gaming Commission Rejects Cedar Rapids Casinos

Cedar Rapids casino vote

The Iowa Racing and Gaming Commission voted 3-2 to reject three proposed casino developments in Cedar Rapids, saying that any new gaming venues would be entering a market that is already saturated. While the regulators called it a difficult decision, and praised the quality of the applications, that wasn’t enough to convince them to authorize…Read More

Wynn Resorts Must Face Former Shareholder Kazuo Okada in Court, Judge Rules

Steve Wynn Kazuo Okada lawsuit

Wynn Resorts must have its day in court to defend actions taken by its board regarding the 2012 ouster of Japanese billionaire Kazuo Okada from its ranks and subsequent redemption of his 20 percent stake in the casino conglomerate. Through a lawsuit filed in Clark County, Nevada, Okada had demanded that Wynn reveal the specific…Read More

Caesars Entertainment Nearing $1 Billion Deal to Buy Two Indiana Racinos

Caesars Entertainment Indiana racetrack

Fresh out of bankruptcy, Caesars Entertainment is reportedly ready to go on a spending spree. The Nevada casino conglomerate is said to be in negotiations with Centaur Gaming to acquire its two Indiana racetrack casinos, Hoosier Park and Indiana Grand. The acquisitions, according to Bloomberg, are expected to cost Caesars more than $1 billion. Gaming…Read More

The 13 Still Hasn’t Submitted a Macau Gaming Application, and Permits Are Running Dry

The 13 Macau satellite casino

The 13, an ultra-luxury resort concept from flamboyant Hong Kong businessman Stephen Hung, has ran up a construction tab of over $1.6 billion. The much-delayed 200 all-villa hotel located south of the Cotai Strip in Coloane Village is finally slated to open in March, but when it does, the property presumably won’t have a casino….Read More

Online Gambling Fueling Atlantic City Rebound, Casinos Up Two Percent in October

online gambling New Jersey Atlantic City

Online gambling once again helped the seven remaining Atlantic City casinos post a positive monthly gain. The internet sites generated $20.6 million in revenue last month, a more than 23 percent increase compared to 2016. The strong month takes year-to-date internet gaming win across the $200 million threshold to $204.2 million, the first time New…Read More

Seven Cases of Legionnaires’ Disease Now Linked to Rio

Legionnaires’ disease Rio

The Southern Nevada Health District announced on Tuesday that they have confirmed seven cases of Legionnaires’ disease among guests at the Rio All-Suite Hotel and Casino in Las Vegas, all of which occurred during an outbreak that was reported five months ago. Officials also suspect 29 more cases may have occurred as a part of…Read More

MGM Resorts Done Building New Casinos, Unless Company Receives License in Japan

MGM Resorts Jim Murren development

MGM Resorts has been on a spending spree in recent years, acquiring casino resorts and building others, but that will soon come to an end. CEO Jim Murren said during the company’s third quarter conference call with investors that the development cycle is nearing completion. The $3.3 billion MGM Cotai in Macau is set to…Read More

Hard Rock Atlantic City Opening Delayed Slightly, Targets Summer 2018

Hard Rock Atlantic City opening

Hard Rock Atlantic City is pushing back its opening date by at least several weeks, a new billboard near the town revealing that the casino resort is now targeting the summer of 2018 to welcome guests. A summer inauguration is slightly delayed from earlier reports that the Hard Rock would open during the May 28…Read More

Disney and Seminoles Team Up to Fund Anti-Casino Expansion Efforts in Florida

Seminole Tribe Florida anti-casino expansion

The powerful Seminole Tribe of Florida, which is owner and operator of seven of the state’s eight tribal casinos, and the the Walt Disney Company, Florida’s largest employer, are teaming up in an effort to strip politicians of the ability to change gambling laws without voter consent. Newly released campaign finance data from the Florida…Read More

Tunica Wants to Remove Casino ‘Riverboat’ Requirement to Salvage Regional Tourism

Tunica casinos Mississippi gambling

Tunica casinos continue to struggle along the Mississippi River in the northwestern part of the state. The former Bally’s Hotel was recently demolished, and Harrah’s has sat vacant since 2014. Today, nine riverboat casinos remain, and they’re unanimously struggling for business. Mississippi legalized riverboat casinos in 1990. At the time, commercial gambling was confined to…Read More

American Gaming Association Joins Tax Reform Talks, Pushes for Full Interest Deduction Preservation

AGA Geoff Freeman US tax reform bill

The American Gaming Association (AGA), the lobbying arm of the gambling industry, has jumped on the tax reform bandwagon. One of the major goals of Republicans in Congress is to pass tax-reform legislation by the end of 2017, a move that has largely been supported by big business, due to proposed cuts to the corporate…Read More

Bloomberry Resorts’ Valuation Could Rise with Solaire Casino Land Bid, Say Morgan Stanley Analysts

Enrique Razon Bloomberry Solaire Resort land buy

Enrique Razon’s Bloomberry Resorts and Hotels, Inc. may find itself in a bidding war for the land on which its own Solaire Resort and Casino in Manila stands. Now analysts at Morgan Stanley (MS) say that if Bloomberry ultimately wins that bid, it could add significant value to the company’s stock price, once it owns both…Read More

Bet365 Founder Denise Coates Was Highest Paid CEO in UK Last Year, Earning £217 Million

Denise Coates, Bet365 CEO

Denise Coates founded Bet365 in a portable office building at a Stoke City car park in January 2000. Now, seventeen years later, she’s pulling in the largest CEO salary in Great Britain, paying herself £217 million ($284.5 million) for fiscal year 2016-17. Her annual take is more than four times than that of the previous…Read More

Richard Desmond Plans to Bid for UK National Lottery

richard desmond

Billionaire newspaper owner Richard Desmond is planning to submit a bid for the UK’s National Lottery, hoping to take over the business when an opportunity to acquire the lucrative franchise comes up again in 2019. Currently, the UK’s largest lottery is operated by a company known as Camelot, which has run the drawings since 1994….Read More

Mandalay Bay Tragedy Expected to Cost Insurance Companies $1 Billion, MGM Workers Claim Hours Cut in Wake of October 1 Shooting

Las Vegas shooting MGM Mandalay

Last month’s Mandalay Bay shooting in Las Vegas, at the Route 91 Harvest country music festival that took the lives of 58 victims and injured over 500 others, is expected to deliver a massive financial blow to the insurance industry, which is already reeling from one of the most active hurricane seasons in recent memory….Read More