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Galaxy Entertainment Looks to Invest $500 Million in Philippines Casino Resort

Galaxy Entertainment Philippines casino

Galaxy Entertainment is ready to take its show on the road and develop its first integrated casino resort outside of Macau. The Hong Kong-based gaming and hospitality conglomerate founded and owned by billionaire Lui Che Woo is reportedly seeking regulatory approval for a $300 million to $500 million project from the Philippine Amusement and Gaming…Read More

Macau Casinos Could Generate $53 Billion by 2022

Macau 2022 revenue Morgan Stanley

The Macau gaming sector is on an extended winning streak, with the territory’s resorts posting 16 consecutive months of revenue gains through November. Now, analysts are saying they don’t expect that trend to end anytime soon. According to data from Morgan Stanley, their analysts are predicting that 2017 is just the start of an upward…Read More

Former Wynn Boston Harbor Land Owners Seek Additional $40 Million in Court

Wynn Boston Harbor land lawsuit

Wynn Boston Harbor, which is actually in Everett, Massachusetts, is being built on roughly 33 acres of land that Wynn Resorts bought for $35 million in 2013. The seller was FBT Everett Reality, a group of investors who had acquired the contaminated acreage just four years earlier for $8 million. In two lawsuits filed in…Read More

Traces of Legionella Bacteria Found to Be Still Present at Parisian Macau

Parisian Macau

Despite Sands China officials insisting that it has fully cooperated with the Macau Health Bureau, its Parisian Macau casino is still battling legionella bacteria at the resort. The Sheldon Adelson-owned property was linked to three cases of Legionnaire’s Disease in April and has undergone constant inspections, but is still showing evidence of the bacteria that…Read More

NFL Commissioner Roger Goodell Signs $200 Million Contract Extension

Roger Goodell

The highest paid person in the NFL is not a star quarterback or all-pro wide receiver. It is the commissioner of the NFL, Roger Goodell. He agreed Wednesday to a five-year, $200 million contract extension. If bonuses and incentives are met it comes to $40 million annually. Goodell has not been a friend to the…Read More

UBS Buys 10 Million MGM Resorts Shares From Founder Kirk Kerkorian’s Estate

UBS MGM Resorts Jim Murren

UBS Securities has acquired 10 million shares of MGM Resorts International from the Tracinda Corporation, a private investment trust that was set up by Las Vegas pioneer Kirk Kerkorian before his 2015 death. Tracinda is selling the MGM Resorts stake to UBS for $338.8 million, which represents a one percent discount compared to the company’s…Read More

Financial Analyst Jim Cramer Says Fold on Bitcoin, Visit ‘Fabulous Las Vegas’ Instead

Jim Cramer bitcoin value price

CNBC “Mad Money” host Jim Cramer is warning bitcoin investors that the digital currency comes with a substantial amount of risk and uncertainty. That likely isn’t news to most who have bought into the cyber coinage, as bitcoin’s price has fluctuated wildly over the last few months. Fortunately for most bitcoin investors, the fluctuation has…Read More

GVC Ready to Gamble on Ladbrokes Coral in $5.2 Billion Deal, Latest in Major Year of Acquisitions and Mergers

GVC Holdings Ladbrokes acquisition

Online gambling operator GVC Holdings is reportedly nearing a deal to acquire UK bookmaker Ladbrokes Coral for $5.2 billion. The owner and sports betting behemoth has long been interested in acquiring Ladbrokes, with the most recent proposal, a $4.6 billion offer, falling through in August. This time around, GVC has apparently submitted a bid…Read More

British Columbia Casino Anti-Money Laundering Procedures Go Into High Gear

BC Attorney General David Eby British Columbia casinos anti-money laundering

Casinos in the Canadian province of British Columbia will start to roll out new anti-money laundering policies in the near future, pushing to combat what the provincial government believes is the suspicious transfer of funds through Vancouver-area gambling venues. According to BC Attorney General David Eby, the new interim recommendations will be implemented “as soon…Read More

Dover Downs Racing Towards NYSE Delisting, as Northeast Gaming Expansion Hurts Delaware Casino

Dover Downs casino stock price

Dover Downs Gaming and Entertainment (DDE), parent company to the Dover Downs Hotel & Casino and Dover Downs Raceway, has been notified by the New York Stock Exchange (NYSE) that the company is in jeopardy of being delisted due to its stock price routinely trading below the minimum $1.00. In a release to investors, Dover…Read More

MGM National Harbor Aside, Maryland Casinos Lose 13 Percent in November

MGM National Harbor Maryland casinos

The $1.4 billion MGM National Harbor integrated casino resort some 10 miles southeast of the nation’s capital continues to poach gaming revenue away from its main competitors in Maryland. According to the Maryland Lottery and Gaming report for November, MGM National Harbor was the top earner with a $50.6 million win from slot machines and…Read More

Study of Gambling in Australia: 6.8 Million Play Regularly, Losing $18 Billion Since 2016

Australian pokie machines

The Australian government last week released figures from a study that presented the most comprehensive picture of Australian gambling habits to date. The study, conducted by the Australian Gambling Research Centre, part of the Australian Institute of Family Studies, found that about 6.8 million Australians gamble regularly, about 42 percent of the country’s adult population….Read More

Crown Resorts Faces Class Action Lawsuit Over China Arrests

Crown Class Action Lawsuit

Australian gambling giant Crown Resorts is facing a class action lawsuit that claims the company failed to inform shareholders of a marketing campaign in mainland China that led to the arrest of 18 Crown employees. The lawsuit was filed by law firm Maurice Blackburn, which said that it had received hundreds of registrations from shareholders…Read More

Sportsbooks Getting Hurt by NFL Favorites Covering Spreads

NFL betting

Bettors of the NFL are learning this season it is probably smart to wager on the favorite. They have been dominating at the window, covering at a 60 percent mark against the spread and sportsbooks are taking a hit because of it. For six consecutive weeks the favorites have won and from Week 7 to…Read More

Caesars Entertainment Selling Harrah’s Las Vegas Real Estate to Generate Capital

Caesars Entertainment Harrah's Las Vegas

Caesars Entertainment is fresh out of Chapter 11 bankruptcy, and the casino conglomerate is ready to get back into the game of purchasing new assets. To accomplish that goal, the company needs cash. In a capital-generating move, Caesars has decided to sell its Harrah’s Las Vegas real estate to VICI Properties, its real estate investment…Read More