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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

Detroit Casinos Report Record Gross Gaming Revenue, Join Ohio and Maryland in March Success

Detroit casinos March revenue

Detroit casinos collectively won $138.6 million in gross gaming revenue (GGR) in March, their largest monthly take in history. MGM Grand Detroit led the way with $58.1 million, a 7.3 percent increase on March 2017 and the casino’s best monthly performance in its 18-year history. MotorCity was next with $49.3 million in GGR, a more…Read More

Macau ‘Founding Father’ Stanley Ho to Retire, Hand Control to Daughter Daisy

Stanley Ho retirement Macau

Stanley Ho is finally ready to retire at 96-years-old. The Macau billionaire, who is considered the enclave’s “founding father,” will step down from SJM Holdings in June and hand control of the company to his daughter Daisy. After making a small fortune smuggling luxury goods into China from Macau during World War II, Ho obtained…Read More

Las Vegas Tourists Spent Nearly $35 Billion in 2017, Conventions Set Attendance Record

Las Vegas tourists conventions

Las Vegas tourists accounted for $34.8 billion in 2017 direct spending on travel, hotel stays, dining, entertainment, and gaming. The average visitor paid $824 for their Las Vegas stay. The economic report comes from Applied Analysis, a Nevada-based hospitality and gaming consultant firm hired by the Las Vegas Convention and Visitors Authority (LVCVA). The findings…Read More

Morgan Stanley: Japanese Casino Market to Hit $15 Billion Valuation

Japanese casino market to be worth $15 billion

The Japanese casino market will be worth $15 billion per year by 2025, according to revised figures from Morgan Stanley. The new estimate is based on recent legislative agreement on the size of the market and other key issues, such as taxation. The US investment bank had previously suggested the value of the market would…Read More

Ohio Casinos Set Revenue Records as Unseasonably Warm March Brings Gamblers Out of Hibernation

Ohio casinos racino Hard Rock

Ohio’s four land-based casinos collectively won more than $81.7 million in March, the highest gross gaming revenue (GGR) in state history. Additionally, the state’s six racetrack venues generated GGR totaling $96.4 million, also a new bar. Ohio separates its four commercial brick-and-mortar casinos from its seven “racinos” in reporting revenue. The state’s Casino Control Commission…Read More

Atlantic City Casinos Report $723 Million Gross Operating Profit in 2017

Atlantic City casinos Borgata

The seven remaining Atlantic City casinos reported $723.2 million in 2017 gross operating profits from gaming, hotel, dining, and entertainment. The revenue refers to earnings before interest, taxes, depreciation and amortization (EBITDA). According to the New Jersey Division of Gaming Enforcement, all seven casino resorts were profitable, with Borgata leading the way at $292 million….Read More

Wynn Resorts CEO Matt Maddox Reportedly Fielding Boston Casino Sale Inquiries, But No Guarantee License is Safe

Wynn Resorts Boston Harbor

Wynn Resorts CEO Matt Maddox is rumored to have engaged in “informal talks” regarding a potential acquisition of the company’s $2.4 billion integrated casino resort near Boston, which is currently under construction. According to Bloomberg, a source who wished to remain anonymous said Maddox has taken calls about a sale. Wynn Resorts spokesman Michael Weaver declined…Read More

Sheldon Adelson Gets 100 Percent Raise to $26.1 Million

Adelson gets pay rise

LVS chairman and CEO Sheldon Adelson is rich, even for a casino mogul. In fact, he’s the richest casino mogul on the planet, according to Forbes’ Billionaires List, and the 21st richest man in the world, with an estimated fortune of $38.5 billion. You could argue, then, that he’s the 21st person least in need of a…Read More

Caesars Windsor Closes Amid Strike, Detroit Casinos Rejoice

Caesars Windsor strike Detroit casinos

Caesars Windsor has temporarily shut its doors after workers walked off the job at 12:01 am Friday morning. Members of the Local 444 Unifor union in Canada rejected a new contract proposed by employer Caesars Entertainment last Thursday by a vote of 59 percent to 41 percent. After union officials said they unsuccessfully reached out…Read More

UK National Lottery Profits Rising for Camelot, But Charities Fail to Benefit

National Lottery Camelot charities

Profits are soaring for the UK National Lottery, which has some British politicians wondering why the amount being given to charitable organizations has been dropping in recent years. Some MPs in the UK are asking the Gambling Commission to look into the dwindling returns for charities in the face of record profits for Camelot, the…Read More

Blockchain Committee Chair Earle Hall of Axes Network Selected for Canada Gaming Standards Association

Earle G. Hall elected as first Chairman of the GSA’s Blockchain Committee.

The Gaming Standards Association (GSA) of Canada has chosen Earle Hall, CEO of Quebec-based AXES Network, to chair the organization’s new Blockchain Committee. Hall is a global gaming leader and was appointed to usher the GSA into the new era of blockchain technology. The GSA, celebrating its 20th anniversary, created the Blockchain Committee in early February,…Read More

Lawrence Ho Gets Shared Big-Time, as Banner Year Leads to Big Bonus for Melco Resorts CEO

Melco Resorts Gives CEO $5 million bonus.

Hong Kong mega-mogul Lawrence Ho has been showered with $5.1 million in shares after playing a key role in securing record profits in 2017. Ho consistently ranks in the Forbes Top 50 Richest list, which is saying something among Asia’s uber-billionaires. Casino developer and operator Melco Resorts and Entertainment Ltd. awarded Ho the reserve shares in…Read More

Spanish Chess Grandmaster Hounded by Tax Officials Over Poker Play

Francisco Vallejo Pons poker tax

Francisco Vallejo Pons is Spain’s top chess player, a grandmaster who is ranked 36th in the world, according to the April FIDE ratings list. But he is finding it difficult to compete in top events, as he is being hounded by Spanish tax officials who say he owes more than half a million euros for his…Read More

Maryland Casinos Post Revenue Record in March, But Horseshoe Baltimore Struggles Continue

Maryland casinos revenue Live MGM

Maryland casinos have set a new monthly gross gaming revenue win record at $150,073,958. The March 2018 number represents a 6.3 percent increase on the previous year, and is nearly $9 million higher than the state’s previous all-time mark of $141.1 million. MGM National Harbor once again led the way, with the DC-area casino resort…Read More