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Macau Casinos Comped Fewer Rooms in 2015, as VIP Crackdown Blocked High Roller Arrivals

Macau casinos comp rooms food beverage

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

Tribal Gaming Growth Hurts Laughlin and Reno, But Vegas Still Bulletproof, Says Analyst

Tribal gaming growth in California, Arizona, no threat to Vegas

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

Late Kirk Kerkorian’s Investment Firm Sells Mandarin Oriental Condo at Discounted Price

Kirk Kerkorian Mandarin Oriental

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

Absolute Poker’s Scott Tom Takes $300,000 Plea Deal as DOJ Closes Books on 10th of 11 Black Friday Defendants

Scott Tom plea deal

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

Russia Casino Development Sites for Sale, Unclear If Any Companies Are Rushing In

Russia casino Primorsky Krai

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

Casino and Restaurant Mogul Tilman Fertitta to Buy Houston Rockets?

Tilman Fertitta

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 Ahead of Schedule on Casino, But Behind on Housing Development

MGM Springfield Court Square housing

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

Macau Casino Stocks Plunge with VIPJunket Ops in Beijing’s Anti-Corruption Crosshairs

Macau casino stocks Steve Wynn

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

Galaxy Gaming’s Bid for New Nevada License Fails Due to Concerns About CEO

: Galaxy Gaming’s Robert Saucier fails to capture Nevada license

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 Receives $220 Million Offer, But Owner Glenn Straub Knows Nothing About It

TEN Atlantic City Glenn Straub

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

Rodrigo Duterte Favorite To Break Ground on Philippines’ First Casino Outside Manila

Dennis Uy’s Udenna to begin work on Lapu-Lapu Leisure Mactan.

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

New Jersey’s Online Poker Market Hits Rock Bottom

New Jersey online poker hits all-time low.

New Jersey’s online casino operations continued to go from strength to strength in June, but online poker fell off a cliff. According to figures newly released by the New Jersey Division of Gaming Enforcement (DGE), while online casino winnings were up over 23 percent in comparison with June 2006, online poker raked in its worst…Read More

Gulfport Casino Workers Who Lost Jobs After Hurricane Katrina Schedule Reunion

Gulfport casino workers reunion

Former casino workers who lost more than just their homes and communities during Hurricane Katrina in 2005 are planning a reunion later this month. The gathering set for July 26 at the Biloxi Community Center will reunite former colleagues and friends that were dispersed from their jobs after the Grand Casino Gulfport was forced to…Read More

Caesars Entertainment Restructuring Approved in New Jersey, Plan Eliminates $16 Billion in Debt

Caesars Entertainment restructuring Atlantic City

Caesars Entertainment has received approval from the New Jersey Casino Control Commission (CCC) to restructure its business operations in Atlantic City. The corporate maneuvering will eliminate $16 billion from the parent company’s books and reduce its interest and lease payment liabilities by $807 million. Under the approved reorganization, Caesars Entertainment Operation Company (CEOC), owners of…Read More

Taiwan Customs Officials Intercept $380K, Suspect Macau Money Laundering Activity

Taiwan customs money laundering

Taiwan customs officials at Taipei’s international airport got a whiff of dirty laundry in the suitcases of two of its citizens returning home from Macau. Nope, it wasn’t underwear that hadn’t hit the laundromat: it was cold, hard cash. Inside the luggage, the security agents discovered $400,000 in undeclared American dollar bills. According to the…Read More