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!

British Gamblers Keep on Betting, as Casinos and Bookmakers Reap Profits

British Gambling Data

British gamblers are betting more than ever. That’s good news for the casino industry, but maybe not so good for British real-money players, who lost a record £13.8 billion ($17.7 billion) for October 2015 through September 2016. These numbers come from a report by the UK Gambling Commission, who released last week the latest “Industry…Read More

New York State Counties to Pay Price for Seneca Nation Gaming Compact Stalemate

New York counties Seneca Nation Todd Gates

New York counties are justly worried about casino revenue sharing payments from the Seneca Nation of Indians that will disappear unless the state acts quickly to reach a new gaming compact. In March, the tribal group shocked Albany when it revealed it was stopping payments to the state after 14 years of regular disbursements. Seneca…Read More

Rio Olympic Infrastructure Left in Economic Chaos, Was It Worth the Gamble?

Olympics hosting Rio gambling

The Olympics no longer have the upper hand in determining where its summer and winter games will be contested. That’s because the international sporting competitions have left a path of destruction, both in a financial and infrastructural sense, in recent decades. Cities are finally wising up that the gamble on hosting the Olympics far outweighs…Read More

Hard Rock to Roll Dice on Trump Taj Mahal, Upping Renovation Budget to $500 Million

Hard Rock Jim Allen Trump Taj Mahal

Hard Rock International doesn’t like what it sees inside the former Trump Taj Mahal in Atlantic City, which the company purchased in March for $50 million. Billionaire Carl Icahn’s bargain price selloff meant the Hard Rock was acquiring a Boardwalk property for pennies on the dollar, as former casino developer turned US President Donald Trump…Read More

Philippine Casinos Will Soon Be Forced to Abide by Anti-Money Laundering Laws

Philippine casino anti-money laundering

Philippine casinos currently operate without much financial oversight from the federal government, but the odds of that changing in the not too distant future seem strong. The Philippine Senate is expected to soon pass a measure that designates gambling venues as institutions covered by the country’s Anti-Money Laundering Act of 2001. Should the legislation pass…Read More

Aristocrat Leisure Hits Jackpot, Gaming and Slot Manufacturer Earnings Soar 53 Percent

Aristocrat Leisure earnings revenue Trevor Croker

Earnings for Aristocrat Leisure aren’t taking a leisurely stroll on the Australian Securities Exchange, but instead racing towards record profits for the Sydney-based gambling machine manufacturer. Aristocrat revealed this week through its half-year fiscal financial report that its net profits for the six months ending March 31 totaled AUD$249.6 million ($187.4 million). That calculates to a…Read More

Pennsylvania Advances Online Gambling Bill, But Don’t Get Too Excited Yet

Pennsylvania senate chamber

The Pennsylvania Senate approved landmark legislation to legalize online gambling Wednesday. And now the hard part really begins. The measure passed on a bipartisan 38-12 vote. It marked the first time the Senate had advanced any online gambling legislation. But the move that matters to so many in the online gaming industry really was a…Read More

Macau Tourism Study Pinpoints Nine Key Non-Gaming Features That Attract Visitors

Macau tourism non-gaming key factors

Macau tourism numbers are up through the first quarter of 2017, and that’s continued good news following a slight bounce in visitor arrivals during the previous year. China’s gambling friendly zone is experiencing a comeback of sorts after President Xi Jinping initiated a corruption crusade in 2014 that targeted VIP touring companies that had been…Read More

Nevada Seeks to Curb Lavish LVCVA Spending by Hiring Costly Inspector General

LVCVA spending Rossi Ralenkotter

The Las Vegas Convention and Visitors Authority (LVCVA) receives hundreds of millions of tax dollars each year, but has little financial oversight from the state on how its board members use those funds. Five Democratic lawmakers and one Republican in Carson City want to change that, by creating a new financial regulatory position that would supervise…Read More

Fourth Upstate New York Casino Changes Name to Resorts World Catskills

Montreign Resort Casino changes name to Resorts World Catskills

Upstate New York’s fourth and soon to be biggest casino will be known as Resorts World Catskills. The project, currently under construction in the Catskill Mountains just outside the town of Monticello. It was previously known under the working title of Montreign Resort Casino, until the recent change in name. The $1 billion project is…Read More

Troubled SLS Las Vegas, Former Sahara, Sold to Reno Resort Owner

SLS Las Vegas sold

SLS Las Vegas has been sending out SOS signals ever since it underwent a $415 million renovation less than three years ago. The former famed Sahara Hotel and Casino was turned into a sleek and modern resort that’s abbreviated moniker stood for “Style, Luxury, Service.” It didn’t work. This week, the Meruelo Group, a California-based…Read More

Sands Bethlehem Sale to MGM Resorts Reportedly Falls Through

Sands Bethlehem Sheldon Adelson MGM

Sands Bethlehem in Pennsylvania will remain under the Las Vegas Sands corporate umbrella for the foreseeable future after acquisition talks with MGM Resorts reportedly failed to reach a deal. The news was first reported by The Morning Call, a newspaper that covers the Allentown and Lehigh Valley area in eastern Pennsylvania. MGM was rumored to…Read More

Elvis Presley Private Jet Is for Sale, One Careful Owner, No Time-Wasters

Elvis private jet for sale

What’s the best way to get comped in Vegas? We bet turning up in Elvis Presley’s private jet may be a fast track to some real VIP treatment. In fact, we couldn’t think of a more “baller” way to arrive in town. And now you can, if you have a few million bucks lying around…Read More

Financing for Las Vegas Raiders Stadium Ahead of Schedule, No Plans to Restrict Mobile Betting

Las Vegas Raiders football stadium

The $1.9 billion Las Vegas Raiders football stadium is scheduled to begin construction later this year, but financing for the mammoth project is already flowing into city coffers. Nevada’s $750 million commitment to bring the NFL franchise to Sin City is funded through a slight increase in the Clark County hotel occupancy tax. For each…Read More

Pennsylvania Casino Tax Deadline Looms, as State Scrambles for Revenue Solution

Pennsylvania casino tax local share

The elimination of a casino tax in Pennsylvania is putting the state in a fiscal bind. With the 2017 session of the General Assembly ending this week, lawmakers must find at least a quick fix to the revenue woes they’ve known about since last fall, when the state Supreme Court ruled elements of the current casino…Read More