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Wynn Resorts Litigation Settlement Drags Scandal-Ridden Gaming Operator Down to Nine-Figure Q1 Loss

Wynn Resorts’ Matt Maddox

Wynn Resorts reported a $204 million net loss for Q1 2018 on Tuesday, as new CEO Matt Maddox delivered the company’s first quarterly report since the resignation of its founder, Steve Wynn. Wynn quit his role in the company that bears his name in February in the wake of allegations of sexual misconduct. A month…Read More

UK Bookies Lose £1.2 Billion in a Day as Investors Duck Regulatory Wrecking Ball

Philip Hammond supports FOBT crackdown on betting industry

The UK bookmaking industry once believed the country’s Chancellor Philip Hammond was its friend, fighting behind the scenes against a proposed maximum stakes reduction on fixed-odds betting terminals (FOBT) in a bid to protect government revenue. Not anymore. In the UK, a Times report published on Tuesday suggested Hammond had never opposed decreasing the stakes at all….Read More

Fertittas, Ruffin, Wynn Fueling President Trump’s Early Reelection Campaign

Las Vegas casino President Trump 2020 odds

Numerous Las Vegas billionaires including Sheldon Adelson, Frank and Lorenzo Fertitta, Phil Ruffin, and Steve Wynn gave tens of millions of dollars to then-candidate Donald Trump during the 2016 presidential election. More than two years before voters will again decide who is best fit for the Oval Office, many of those same individuals are opening…Read More

UFC Fight Night Delivers Knockout Win for Atlantic City

UFC Atlantic City casinos economy

Saturday’s UFC (Ultimate Fighting Championship) Fight Night event at Boardwalk Hall delivered a strong showing for the Atlantic City economy, as 9,541 fans packed into the arena generating a gate of $923,720. The New Jersey Casino Reinvestment Development Authority (CRDA) struck a $4 million deal with William Morris Endeavor (WME) in July 2017 to bring…Read More

Macau Visitor Arrivals Up Nine Percent in 2018 First Quarter

Macau visitor arrivals first quarter

Macau visitor arrivals totaled more than 8.5 million in the first quarter of 2018, an 8.6 percent increase on the same three-month period in 2017. March was an exceptionally strong period, as tourism traffic jumped more than nine percent due to the month having an extra Saturday in 2018 compared to the previous year. Visitor…Read More

Las Vegas Sportsbooks Reveal Liabilities on Golden Knights Stanley Cup Victory

Las Vegas sportsbooks Golden Knights

Las Vegas sportsbooks are revealing just how much money they stand to lose should the Vegas Golden Knights find a way to win the Stanley Cup Finals. The Vegas Golden Knights have already made history. They’re just the sixth team in the Big Four (NFL, MLB, NBA, NHL) since 1960 to make the playoffs in…Read More

Stars Group to Acquire Sky Betting and Gaming for $4.7 Billion

Stars Group to buy SBG

The Stars Group, formerly Amaya, has announced it will acquire UK online gambling firm Sky Betting & Gaming (SBG) for $4.7 billion, in a deal that will see the PokerStars parent become a major player in the sports betting sector just as the US stands on the verge of possibly legalizing sports books nationwide. The…Read More

Texas Gubernatorial Candidate Andrew White Wants Casinos to Fund Education

Andrew White Texas governor race

Declaring an “educational emergency,” Texas gubernatorial candidate Andrew White (D) revealed a $9 billion plan to improve the public school system throughout the Lone Star State. And under his governorship, he says casinos would help cover the increased costs. White says he’ll pay for the massive spending package by removing commercial property tax breaks, redirecting…Read More

Macau Junket Suncity Group Behind $4 Billion Vietnam Casino Resort

Suncity Group Vietnam casino resort

Suncity Group, one of Macau’s most successful junket operators, is taking some of its profits and leading a $4 billion casino resort development project in Vietnam. Along with two investment firms, Suncity is developing a two-mile stretch of coastline in central Vietnam. The 2,400-acre integrated casino resort complex is to feature retail shopping, restaurants, golf…Read More

North Las Vegas Strip Evolution Underway, Developers Moving Ahead with Major Projects

Fontainebleau becomes the Drew Las Vegas

On the North Las Vegas Strip, business may not quite be booming as of yet. But at least it’s not flatlining anymore, the way it has been for the last post-recession decade or so. New construction, enhancements, and upgrades are in the works, as developers ramp up plans to move ahead with several projects in…Read More

Gamers Loot Box, Skins Gambling Spend to Hit $50 Billion by 2022, Says Analyst

Clash Royale

A new report by Juniper Research suggests that consumer outlay on loot boxes and skins betting will rise 60 percent — to $50 billion a year by 2022 — and at least $48 billion of that will come strictly from loot boxes. Despite the backlash from the gaming community over the sudden preponderance of loot…Read More

Melco Resorts Purchases 20 Electric Buses for Macau, as Mass Market Focus Continues

Melco Resorts Macau electric buses

Melco Resorts has purchased 20 electric buses to transport guests around Macau, yet another sign that casinos in the enclave are transitioning their focus from the high-roller VIP to the mass market visitor. In a press release, the company says the purchase is in line with “sustainability” being “one of the top priorities of Melco…Read More

Cambridge Analytica Planned to Launch Own Cryptocurrency to Monetize Personal Data

Cambridge Analytica

Cambridge Analytica, the controversial firm at the center of the Facebook data harvesting scandal, planned to launch its own cryptocurrency that would enable adopters to profit from selling their own personal data. According to the The New York Times, before it became the focus of the world’s attention for all the wrong reasons, the company planned…Read More

Pennsylvania Casinos Set Monthly Record, Join Maryland, Ohio, and Michigan in Posting New Highs

Pennsylvania casinos monthly record

Pennsylvania casinos generated more than $300 million in gross gaming revenue (GGR) last month, the first time in state history that the threshold has been passed. The Pennsylvania Gaming Control Board (PGCB) released final numbers this week that showed gross table game revenue at $79.54 million in March, and slots accounting for $221.35 million. Combined,…Read More

Despite Scandal, Miss America Receives $4M Subsidy From Atlantic City’s Casino Reinvestment Development Authority

Miss America CRDA subsidy

Miss America is remaining in Atlantic City for at least another pageant. Despite a scandal that shook up the organization in December over derogatory emails sent and received by then-CEO Sam Haskell and two board members regarding former Miss America winners, the pageant was approved this week for $4.325 million in state funding. The New…Read More