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Online Revenues Soar for Ladbrokes Coral as Retail Profits Tumble

Ladbrokes Coral online ops soar but retail betting is down

Just as online sales for common goods have forced many brick-and-mortar retail stores to close, it seems the more “punters” in the UK bet online, the less they bet in traditional bookmaking shops. Ladbrokes Coral’s revenue from digital operations climbed 17 percent in the first half of 2017, with sports betting revenues up 25 percent,…Read More

Pennsylvania Senate Plans on Mystery Gambling Revenues to Help Plug Budget Hole

Pennsylvania State casino expansion revenue

The Pennsylvania Senate is betting on $200 million in new gambling revenues to help balance the state budget, even though they aren’t exactly sure what type of new gambling they’ll allow to generate that money. Democratic Gov. Tom Wolf allowed an underfunded $32 billion budget to pass without his signature earlier this month. Now the…Read More

Las Vegas Sands Earnings Beat Forecasts on Strong Quarter in Macau and Singapore

Las Vegas Sands earnings

Las Vegas Sands made $3.14 billion in net revenue during the third quarter of 2017, an 18.6 percent surge compared to the previous April through June period. In a financial disclosure, the corporation pointed to the recovery in Macau, paired with a record-setting performance at its Marina Bay Sands resort in Singapore, as the leading…Read More

Unions to Go After Crown Melbourne’s VIPs, Threatening ‘Social Media War’ After Layoffs

Unions blast Crown Resorts over slots sackings

James Packer’s Crown Resorts is facing a vicious backlash from Australia’s unions over its decision to sack 16 slots technicians at its flagship Crown Casino Melbourne. The chorus of anger has been amplified by the fact that Amtek, the company to which Crown has outsourced the jobs, is chaired by Jeff Kennet, the former premier…Read More

Wynn Resorts’ Strong Performance Not Strong Enough for Investors

Steve Wynn

Strong performances for Wynn Resorts in Macau and Las Vegas boosted the firm’s Q2 revenues beyond analysts’ expectations, but profits fell just short of projections. In an earnings call Wednesday, Wynn Resorts said revenue was $1.53 billion for the quarter, beating the $1.45 billion predicted by a survey of 13 Wall Street specialists. Meanwhile, profit…Read More

Caesars Bankruptcy Prevented Investment at Company’s Atlantic City Properties, Gaming Regulator Says

Caesars bankruptcy Bally's Atlantic City

Caesars shareholders voted to approve a merger of two of its operating companies this week, a step that moves the casino conglomerate closer to emerging out of Chapter 11 bankruptcy. That’s good news for two of its Atlantic City resorts, which suffered under the insolvency by receiving far less capital from its parent organization for…Read More

Big Bets on Conor McGregor Tighten Odds Against Floyd Mayweather, Fight Coming to Theater Near You

Conor McGregor Floyd Mayweather fight

UFC star Conor McGregor is being given little to no chance of winning his much-hyped boxing match against Floyd Mayweather next month by the sport’s analysts, but bettors in Las Vegas have faith that the mixed martial arts champ can pull off the upset. Lines on the August 26 clash at Las Vegas’ T-Mobile Arena…Read More

Father Sues California Lottery Over Denied $5 Million After Underage Son Bought Winning Ticket

Man Sues California lottery

An aggrieved Long Beach resident who had a $5 million lottery win whisked from under his nose on a rather glaring technicality is suing the California Lottery Commission and the gas station that sold the “winning” ticket to his 16-year-old son. That’s right, Ward Thomas sent his 16-year-old son to buy the ticket, an act…Read More

Macau Visitor Arrivals Up Over Five Percent Through First Half of 2017

Macau visitor arrivals 2017

Macau welcomed more than 15 million visitors between January and June 2017, a 5.4 percent gain compared to visitor numbers for the first half of 2016. Even better for Macau tourism interests, more than eight million stayed overnight, a 13 percent year-over-year increase. The data supplied by the Macau Statistics and Census Service provided a…Read More

Caesars Seeks Shareholder Approval to Split Company’s Gaming Ops From Real Estate Investments

Caesars shareholders bankruptcy reorganization

Shareholders of Caesars Entertainment will gather in Las Vegas this week to decide the future of the company, and ideally, bring its bankruptcy process to an end. According to the Las Vegas Review-Journal, executives will make the case that it’s in everyone’s best interest to divide the corporation’s gaming operations from its real estate holdings….Read More

Billy Walters Prosecutors Push Judge for 10-Year Sentence for Insider Trading Activities

Billy Walters Insider Trading Case

Prosecutors in the Billy Walters insider trading trial have requested that a Manhattan federal judge hand down a 10-year prison sentence to the famed sports gambler, the maximum allowed under legal guidelines. Walters was found guilty in April of profiting by up to $43 million from illegal stock trades on Dean Foods, using sensitive information…Read More

Macau Police Bust Scam ‘Pop Up’ VIP Casino Op

Chau Wai Kuong says crime rate “serious” in Macau

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

Delaware Brick-and-Mortar Casino Sector Advisory Board Holds State’s Fate, While Keeping Cards Close

Delaware racinos creak under weight of competition

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

More Las Vegas Casinos Now Monitoring Players Before Offering ‘Free’ Cocktails

Drink monitoring system gaining traction Las Vegas

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 Added to S&P 500, Company Should Benefit From Increased Trading

MGM Resorts S&P 500

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