Macau authorities have busted a bogus “pop-up” VIP casino racket that bilked high-rollers out of millions in allegedly crooked baccarat games, according to the South China Morning Post. The police investigation began in June after a man told authorities he had been defrauded of HK$4 million (around $500,000). Officers from the Judiciary Police raided an…Read More
The Delaware land-based casino sector has been hit hard by increased competition from new markets in neighboring states, as the newer and shinier casinos of Pennsylvania and Maryland outperform its three struggling, and highly taxed, racinos. The sector, which comprises Harrington Raceway, Dover Downs, and Delaware Park, peaked in 2006, the year Pennsylvania began issuing…Read More
Add the Golden Nugget in downtown Las Vegas to the ever-growing list of Sin City casinos which no longer want to give their customers unmonitored freebies where booze is concerned. The Nugget joins Caesars Entertainment, which instituted the policy at its Strip properties last year, which was then quickly picked up by Las Vegas Sands Corp….Read More
MGM Resorts International will become the newest member of the revered S&P 500 prior to the open of trading on Wednesday, July 26. The stock’s addition to the Standard and Poor’s index will presumably increase trading activity on the Nevada-based casino and hospitality conglomerate. The S&P 500 is a preferred US index, one that rivals…Read More
Macau casinos reported expenditures of MOP8.8 billion ($1.1 billion) from complimentary guestrooms and free food and beverage service in 2015. That represents a 12.9 percent decline from 2014, the special gaming enclave’s final year before Chinese President Xi Jinping initiated his anti-corruption crusade. Over $700 million was spent by casinos on comped hotel rooms, which…Read More
The National Indian Gaming Commission reported this week that America’s tribal gaming operators collectively generated $31.2 billion in gross gaming revenue, a 4.4 percent increase over 2015. The biggest growth, year over year, for tribal gaming nationwide was the Sacramento, California region, with an increase of 6.3 percent to $8.4 billion. Meanwhile, the Phoenix region…Read More
Las Vegas pioneer Kirk Kerkorian died at the age of 98 in 2015, and as directed by his will, Tracinda Corp, his investment firm, has since been slowly walking away from the city that made him a billionaire. In addition to recently selling down its stake in MGM Resorts, the company Kerkorian founded, Tracinda recently…Read More
Scott Tom, founder of disgraced online poker site Absolute Poker and former Black Friday fugitive, has accepted a $300,000 plea deal with federal prosecutors. Tom, who turned himself in to US authorities in February after nearly six years living in exile in Barbados, will plead guilty to a single misdemeanor charge of being an accessory…Read More
Three Russian casino land parcels reserved for gaming and hotel development are on the auction block near Vladivostok. The world’s largest country has been trying to transform the Far East port city into a bustling entertainment and gambling destination that attracts tourists and high rollers from China, South Korea, and Japan. In 2009, Russia’s federal…Read More
The Houston Rockets is for sale and restaurant and casino mogul Tilman Fertitta might be buying, if the price is right. Leslie Alexander’s decision to sell is said to have blindsided not just the rest of the NFL but everyone at the Rockets too. Alexander, a former New York lawyer and financier, bought the franchise…Read More
MGM Springfield has received approval from the city council there to push back a deadline to develop 54 units of market-rate apartments. The housing project is part of the casino company’s commitment to bringing market rate housing to the downtown area surrounding its $950 million resort. In part of its Region B (Western Massachusetts) casino…Read More
Investors folded on Macau casino stocks after Suncity Group, the region’s biggest VIP junket company, reportedly warned its employees to take extra caution when moving money to the Chinese enclave where gaming is permitted. Wynn Macau, traded on the Hong Kong Stock Exchange, lost nearly five percent of its share price on the news. Galaxy…Read More
Nevada gaming regulators failed to recommend Galaxy Gaming for a new license due to reservations about its founder, CEO, chairman and president, Robert Saucier, the Las Vegas Review-Journal reported this week. Following a two-day hearing of the Gaming Control Board, Galaxy, a Las Vegas-based developer of electronic casino table-games, withdrew its application rather than risk…Read More
TEN Atlantic City owner Glenn Straub claims he’s unaware of a $220 million offer to acquire his shuttered Boardwalk resort, despite media reports that a bid has indeed been made. The Press of Atlantic City says an unnamed private equity firm in New York City is trying to purchase the former $2.4 billion Revel Casino,…Read More
Plans to build the first Philippine casino resort outside Manila appear to be coming to fruition for businessman Dennis Uy’s Udenna Development Corp. Udenna wants to build to a 12-hectare beachfront resort on the holiday island of Mactan, in the province of Cebu, complete with luxury hotels, infinity pools and a skydiving center. Uy, the…Read More
Macau Police Bust Scam “Pop Up” VIP Casino Op
Impossible Odds? Betting Sites Offer Lines on Political, Celebrity Absurdity
Delaware Brick-and-Mortar Casino Sector Advisory Board Holds State’s Fate, While Keeping Cards Close
More Las Vegas Casinos Now Monitoring Players Before Offering ‘Free’ Cocktails
MGM Resorts Added to S&P 500, Company Should Benefit From Increased Trading
Google Opens Android’s Play Store to Real-Money Gambling Apps
Kelly Cheung Yin Sun Targeted Borgata for Revenge
Lebron James Says Steph Curry Should Be Making '400 Million' In The NBA
Poker Pro Phil Ivey Misses World Series of Poker to Have His Day in UK Court
Harry Reid Writes Letter Supporting Billy Walters, Notorious Sports Gambler Convicted of Insider Trading
