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Japan Looks to Curb Its Pachinko Problem

Japan to tighten pachinko controls

As the Japanese Diet prepares a framework of regulation that will pave the way for the country’s first casinos, politicians are also turning their attention to an existing gambling scene long too neglected by regulators. The country’s colorful, noisy pachinko parlors line the streets of almost every town and city in Japan. Technically, these pinball-slot…Read More

Penn National Set to Dominate Market with $44 Million Purchase of Two Tunica, Mississippi Casinos

Tunica Casinos sold

Apparently Penn National didn’t think three’s a crowd because it just closed on a $44 million deal to add two Tunica casinos to its portfolio. The Pennsylvania-based company already has Hollywood Casino Tunica and will now operate Bally’s Casino Tunica and Resorts Casino Tunica. It was all part of a transaction that included the company’s…Read More

Nevada Poker Tables Continue Folding Across Silver State, Casino Revenue Falls in February

Nevada poker tables casino revenue

The total number of Nevada poker tables will shrink once again when the Monte Carlo closes its poker room on April 25 as part of a $450 million renovation that will eliminate the card game from the resort. It’s just the latest telling sign that poker doesn’t come with the same allure it once did….Read More

Seminoles Warn Florida Legal Pre-reveal Machines Threaten Compact

Seminole chairman Marcellus Osceola warns against pre-reveal slots

The Seminole Tribe of Florida has warned that should “pre-reveal” gaming machines be permitted to proliferate throughout the state, it will consider Tallahassee to be in breach of its compact, a fact that could lead to billions in withheld revenue share payments. At issue is a judge’s ruling two weeks ago on the legality of…Read More

Carl Icahn Cited in Billy Walters Trial as Prosecution Pushes for Submission of New Evidence

Icahn’s name dragged into Walters case

As the insider trading trial of Las Vegas gambler Billy Walters swung into its second week on Monday, Carl Icahn’s name was once again dragged into proceedings. Icahn, the billionaire activist investor, owner of the Tropicana Casino and two shuttered former Trump casinos in Atlantic City, and unpaid adviser to the President of the United…Read More

Ladbrokes Coral Takes $200 Million Hit But Insists the Future’s Bright 

Ladbrokes Coral CEO reports “successful” first year

Ladbrokes Coral execs brushed off a £200 million pre-tax loss for 2016 during the enlarged company’s first earnings call since combination, citing projected cost savings of £100 million per year by 2019 as a reason to be cheerful. Ladbrokes Coral said, despite the hit, it had enjoyed a “successful start” to its £2.3 billion tie-in….Read More

Macau Casino Billionaire Lawrence Ho Pays $65 Million for NYC Pad

Lawrence Ho New York City condo

Lawrence Ho, the billionaire chairman and CEO of Melco International Development and Melco Crown Entertainment, has reportedly shelled out a staggering $65,163,580 for a top-floor unit of 432 Park Avenue, the tallest residential skyscraper in the Western Hemisphere. Melco Crown is a joint venture with Crown Resorts, and owns Studio City and Altira casino resorts…Read More

Galaxy Macau Expansion Devoted Almost Entirely to Non-Gaming

Galaxy Macau non-gaming Lui Che Woo

Galaxy Macau is readying to commence construction on the resort’s third and fourth phases, but the multibillion-dollar expansion won’t add much square footage in terms of gaming space. In its 2016 annual report, which was filed just last week, Galaxy Entertainment reveals some of the blueprints for its five-star flagship resort based on the Cotai…Read More

Phil Mickelson Would “Take the Fifth” if Called to Testify in Billy Walters Trial

Phil Mickelson would take the fifth in Billy Walters trial

Golfer Phil Mickelson would “take the fifth” if called to testify in the ongoing trial of his friend Billy Walters and will therefore not be called as a witness for the defense, according to Walters’ lawyer. The possibility of the five-time major winner making an appearance in court has been the cause of a lot…Read More

Georgia Casino Bill Resuscitated But Prognosis Not Good

Representative Ron Stephens resurrects Georgia casino bill

Supporters of casino gaming in Georgia have new, albeit slim, hope. The state’s Destination Resort Bill, which died in the Senate last month, has resurfaced in the House with a few tweaks and a new sponsor. Representative Ron Stephens (R -Savannah) presented an updated version of the bill to the House Regulated Industries Committee on…Read More

Amaya Reports Record Revenue in Q4 But Profits Fall Slightly Short

Amaya reports record revenues

PokerStars parent Amaya has reported record revenues in Q4 and across 2016, citing “proactive changes” to the online poker ecosystem, as well as better-than-expected growth of its casino operations. The Canadian company said, year-over-year, revenues rose 5.9 percent in Q4, to $310 million, and 7.8 percent for the whole of 2016, to $1.15 billion. Nevertheless,…Read More

Billy Walters Trial Star Witness Embezzled from Battered Women’s Charity to Fund Gambling, Hookers 

Billy Walters leaves court

Gambling, soliciting prostitutes, ripping off a women’s charity and leaking sensitive company information, it’s all just another day at the office, apparently, for the former chairman of one of America’s biggest milk-processing companies. Tom Davis, the former chairman of Dean Foods, of Dallas, continued his testimony in the trial of his one-time friend, the legendary gambler…Read More

Raiders Close in on Vegas Move as NFL Vote Expected Next Week

Mark Davis edges close to Vegas Raiders

Optimism is building for the Raiders’ proposed move to Las Vegas, with some sections of the press reporting that NFL owners could vote on the move as early as Monday. The owners are scheduled to begin a four-day-long series of meetings in Phoenix on Sunday night, where the issue is expected to be high on…Read More

Amaya CEO Rafi Ashkenazi Modifies Corporate Vision, Name Change Possible

Amaya CEO Rafi Ashkenazi PokerStars

Amaya CEO Rafi Ashkenazi has a different vision in mind than his predecessor, and with founder David Baazov now removed from the Canadian gaming conglomerate, the new boss is in full control. Ashkenazi is focused on finding the perfect balance of lessening the company’s volatility while maintaining a growth strategy. That’s a stark contrast from Baazov…Read More

Seneca Nation to Withhold Casino Revenue Share from New York State

Seneca witholds rev share payments to New York

The Seneca Nation, which operates three casinos in western New York State, has said it will discontinue its revenue-share payments. The Senecas pay the state around $110 million a year as part of a compact signed in 2002, but the tribal operator claims that, under the terms of the agreement, payments were only required for…Read More