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Money Laundered in British Columbia Casinos Allegedly Funded Terrorism, Drugs

Paul “King” Jin links to British Columbia casinos

The failure of some British Columbia Casinos to enforce stricter AML procedures has facilitated the alleged laundering of drug money and financing of terrorism, according to a report by the Royal Canadian Mounted Police (RCMP). As reported by Canada’s Postmedia, the RCMP believes an illegal money transfer business in Richmond, BC, lent cash to Chinese…Read More

Revel Atlantic City Reportedly Sold, Owner Glenn Straub Again Plays Dumb

Revel Atlantic City sold Glenn Straub

Revel Atlantic City reportedly has a new owner. According to an “agreement of sale” filed with the Atlantic County Clerk’s Office, Glenn Straub is finally ready to unload the Boardwalk casino resort after months of speculation. The buyer is Colorado-based Mile High Dice MGR, LLC, presumed to be the working limited liability company that will…Read More

Las Vegas Shooter Stephen Paddock Was High-Roller Who Gambled Freely, FBI Hopes Girlfriend Can Unravel Mystery of Motive

Las Vegas shooter Stephen Paddock

What caused Las Vegas shooter Stephen Paddock to take an arsenal of modified high-powered semiautomatic weapons into his Mandalay Bay hotel suite and spray bullets onto innocent concertgoers outside below? That’s the question on everyone’s mind right now, and law enforcement agencies hope to gain some insight when they finally interrogate Paddock’s girlfriend Marilou Danley,…Read More

Caesars Entertainment Plans to Exit Chapter 11 Bankruptcy This Week

Caesars Entertainment Chapter 11

Caesars Entertainment Corporation is ready for a fresh start, announcing on Monday that the Las Vegas gaming and hospitality conglomerate will exit Chapter 11 bankruptcy by the end of the week, marking a new beginning for a company helping shape the world’s casino and gambling landscape. With all necessary approvals from state gaming regulators, vital…Read More

Casino Stocks and Firearm Shares React to Las Vegas Massacre

Stock market reacts day after Las Vegas massacre

Las Vegas casino stocks faced a turbulent day of trading on Monday. The market reacted strongly after a 64-year-old killer opened fire late Sunday night in Las Vegas from a 32nd-floor suite at Mandalay Bay, aiming an automatic weapon onto 22,000 concertgoers attending an outdoor country music festival. The massacre resulted in the loss of…Read More

Pennsylvania Budget Deal Reportedly Close, State to Authorize Rural ‘Mini-Casinos’

Pennsylvania budget gaming expansion

The $32 billion Pennsylvania budget that Governor Tom Wolf (D) allowed to pass without his signature in late June is underfunded by $2.2 billion, and it now appears the odds are fairly strong that some sort of gaming expansion measure will be used to partially cover the shortfall. State lawmakers are back in the Harrisburg…Read More

Gambler Denied $1.37 Million Jackpot, Can’t Sue Tribal Casino Due to Sovereign Immunity 

Poarch Creek Tribal Casino

An Alabama gambler’s seven-year quest to claim an illusory $1.37 million jackpot from the Poarch Creek Indians was brought to an abrupt halt on Friday by that state’s supreme court. The alarmingly named Jerry Rape has been feeding his money into the legal system in a bid to hit the jackpot ever since he figured…Read More

Study: Legalized US Sports Betting Market Could Include 32 States Within 5 Years

32 states would legalize sports betting if Supreme Court lets them

Regulated sports betting in the US will be a $6 billion market with 32 states participating within five years of legalization. That’s according to a new study from analyst Eilers & Krejcik Gaming, which predicts that 14 states will offer sports betting within two years, should New Jersey’s challenge to the federal ban prove successful…Read More

Nevada Sportsbooks See Approximately $65 Million Bet on Mayweather-McGregor Fight

Mayweather-McGregor bets

While the August 26th fight between Floyd Mayweather and Conor McGregor didn’t live up to the hype, outside the ring Nevada sportsbooks were definitely not disappointed. The Nevada Gaming Control Board estimated that $65 million was bet on the bout, shattering the previous record of $50 million in the Mayweather-Manny Pacquiao event in May 2015….Read More

Macau Extends Winning Streak to 14 Months, September Casino Earnings Jump 16 Percent

Macau casinos revenue Golden Week

Macau casinos generated $2.66 billion in gaming win during September, a 16.1 percent increase compared to the same month in 2016. Financial analysts had anticipated a gain of between 11 percent and 17 percent. The official data from the city’s gaming regulator shows that Macau casinos were able to quickly bounce back from two deadly…Read More

Macau Tourism Office Makes Bold Predictions, Non-Gaming Spend Forecasted to Double by 2025

Macau tourism office non-gaming growth

If the Macau tourism office is concerned with how ongoing regulations and oversight from China might impact its economy, the city agency certainly isn’t showing such fear in its 15-year Master Plan. Released this week after two years of studies, the Macau Government Tourism Office (MGTO) Industry Development Master Plan makes numerous eye-catching predictions on…Read More

Presidential Inaugural Committee, Funded by Casino Money, Donates $3 Million to Hurricane Relief

Trump inauguration committee hurricane relief

The Presidential Inaugural Committee is giving $3 million to help support hurricane recovery work in Texas, Florida, and the Caribbean, and few may realize the level of casino involvement in these efforts. The American Red Cross, Salvation Army, and Samaritan’s Purse will each receive $1 million. The inaugural committee, formed to help cover expenses associated with…Read More

Macau Bitcoin Ban Spells Bad News for Dragon Corp’s Planned $500 Million ICO

Macau authority Bitcoin business ban

The Macau Monetary Authority, or ACCM, has warned local financial institutions that they are banned from providing services to virtual currency-related businesses. The authority reminded the banking industry that “ … bitcoin is a type of commodity which is neither a legal tender nor a financial instrument subject to supervision.” It has also warned banks…Read More

Sands China Ends Cotai Strip DreamWorks Deal, as MGM China Delays Opening in Macau

Cotai Strip MGM Sands China Macau

Sands China, the Macau operating arm of Sheldon Adelson’s Las Vegas Sands empire, announced this week that it’s ending its five-year licensing partnership with DreamWorks Animation SKG. Since 2012, Sands Cotai Central has entertained guests of all ages in non-gaming areas with live costumed characters from DreamWorks’ catalogue of films. The main attraction has been…Read More

Massachusetts MGM Springfield Upgraded to $960 Million Resort, Northampton Gets Promotional Grant

MGM Springfield casino Massachusetts

The MGM Springfield in Massachusetts will cost $10 million more than previously expected, as officials revealed that the price tag for the integrated resort will now total $960 million. Springfield officials accepted updated design documents from MGM on Thursday, which brings the conception process to 95 percent completion. The latest plans cover everything from exterior…Read More