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Junket Operators, Casino Boss Cleared in $101M Bangladeshi Cyber Bank Heist

Maia Deguito to be charged over Bangladeshi bank heist

Philippine prosecutors investigating last year’s notorious Bangladeshi bank heist have dismissed all charges against casino boss Kim Wong and junket operator Weikang Xu. But late last week they recommended the filing of charges against Maia Deguito, a former branch manager at Philippine bank RCBC, for her alleged role in the theft of $101 million from…Read More

Billionaire Sheldon Adelson Receives 400 Percent Salary Increase

Sheldon Adelson salary increase

Sheldon Adelson has an estimated net worth of $32.6 billion according to the Bloomberg Billionaires Index, so a $4 million annual pay raise presumably isn’t something the gambling tycoon will spend much time celebrating. However, paired with an increase to the cap on his performance-based bonus, the Las Vegas Sands founder and chairman is positioned…Read More

MGM Japan to Open in 2025, CEO Jim Murren Hints

MGM Japan CEO Jim Murren

MGM Japan, an integrated casino resort that could cost as much as $10 billion, will open sometime around 2025. That’s the word according to CEO Jim Murren, at least, who provided details on the licensing process and timeframe for his company’s resort should MGM be receive one of two available gaming licenses from the Asian…Read More

MGM National Harbor in Maryland Is Dominating DC Area Casino Landscape

MGM National Harbor Fuels Maryland Casino Growth

The MGM National Harbor in Maryland is barely nine months old. Yet it has come to dominate the region’s casino landscape. According to the latest revenue report released by state gaming authorities, MGM is leading notable growth in Maryland’s casino industry. In August, Maryland’s six casinos yielded a healthy $137.5 million return for the month. That’s…Read More

Louisiana Lawmaker Blames Parkinson’s Meds for Raiding Campaign Funds to Gamble

Jerome "Dee" Richards Lousiana lawmaker gambling

Louisiana lawmaker Jerome “Dee” Richard (I-District 55) has promised to pay back $37,000 he spent from his campaign account on gambling, actions which he has blamed on his Parkinson’s medication. On Wednesday, Richard promised to pay restitution, and indicated he’d reached an agreement with the Board of Ethics that stipulates both repayment and admitting improper…Read More

UNLV Regents Approve $16 Million Finance Plan for Fertitta Football Training Complex

UNLV Fertitta football complex funding

The UNLV football program took another step towards becoming a legitimate program when the university’s Board of Regents voted 4-2 on Thursday to approve a plan to finance a state-of-the-art training complex. The amount that was agreed upon by the six-member panel was $16 million. President Len Jessup told the group that donors have vowed…Read More

Clark County Greenlights Las Vegas Raiders Stadium Construction Plan

Future site of Las Vegas Stadium

The Raiders won’t be competing in Las Vegas until 2020, but the excitement is already in the Sin City air. On Wednesday, the Clark County Commission gave the go-ahead to the NFL franchise to begin building what will be a $1.9 billion state-of-the-art facility. County approval came a day after the FAA cleared the way…Read More

Scientific Games and IGT Announce ‘Cross-Licensing’ Pact, Patent-Sharing

Scientific Games IGT licensing agreement

Scientific Games and International Game Technology (IGT) have reached an agreement to share licenses and patents across their two companies. The casino technology and lottery services providers said in a statement that they’ve signed off on a “patent cross-licensing” contract that allows them to use “patented game features from each other’s portfolios, as well as…Read More

MGM Cotai Still Set to Open in 2017, Despite Typhoon Hato Setbacks

MGM Cotai Macau casino resort

MGM Cotai will open its doors in late 2017, despite Macau beginning the recovery process after Typhoon Hato. The storm was the most powerful recorded hurricane to hit the city in 53 years, and caused nearly $2 billion in damages and took the lives of 26 people. The Category 3 typhoon made landfall in Macau…Read More

Casino Owner Tilman Fertitta Buys NBA’s Houston Rockets for $2.2 Billion

Tilman Fertita Houston Rockets buyer

Seafood restaurant and casino magnate Tilman Fertitta agreed on Monday to shell out 2.2 billion clams for the NBA’s Houston Rockets. The purchase price set a record for professional basketball teams, exceeding the $2 billion that Steve Ballmer paid for the Los Angeles Clippers in 2014. It also showed further willingness by major professional sports…Read More

MGM Resorts Sells National Harbor to Itself, Announces Stock Buyback

MGM Resorts National Harbor

MGM Resorts International opened its $1.4 billion National Harbor property last December, and the big casino located about 10 miles from the White House across the Potomac River quickly became the top casino performer in Maryland. Now the Nevada-based casino giant is selling the place, to one of its own companies, as part of an…Read More

Brazilian Olympic Committee President Allegedly Orchestrated Millions in Bribes for Rio Summer Games

Olympic Committee corruption bribe

The head of the Brazilian Olympic Committee (BOC) is being accused by his own country, as well as federal officials in France, of buying votes in Rio de Janeiro’s successful bid to host the 2016 Summer Games. The developments this week add more disgrace to the international sporting world. FIFA, the governing body of soccer…Read More

Outside Investigation Concludes Universal Founder Kazuo Okada Committed Fraud

Kazuo Okada

Kazuo Okada has been formally accused of fraud by the company he founded five decades ago and built into Japan’s largest gambling empire. Universal Entertainment, which ousted its founder from the board on July 29, announced this week that the results of a three-month external investigation allege Okada is guilty of three instances of misappropriating…Read More

Seafood Buffet Prices Leave Gulf Coast Casino Gamblers Feeling Crabby

Gulf Coast casino seafood buffet

Gulf Coast casino floors use their well-stocked seafood buffets to lure millions of guests inside their doors each year, with the hopes that the reasonably priced smorgasbords will turn diners into gamblers. Countless guests begin their casino getaway in coastal Mississippi by downing a pound (or more) of Dungeness crab, but as harvest numbers decrease…Read More

Russian Gambling Zone Targeting Asia Yet To Blossom with Only One Casino

Lawrence Ho Tigre de Cristal

The hotel at billionaire Lawrence Ho’s $500 million Tigre de Cristal casino resort in Russia’s farthest eastward facing corner is filled to capacity on weekend nights, but that’s not necessarily a good thing. Analysts say the hotel’s limited lodging capacity is preventing the property from attracting big spenders. According to the development’s latest financial results…Read More