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Failed Lucky Dragon Casino Sold for $36 Million to Become Non-Gaming Hotel

Lucky Dragon Casino

Doomed off-Strip casino project Lucky Dragon was sold for $36 million Monday to a developer who wants to turn the building into a non-gaming hotel and conference space. Don Ahern – who is the chairman and CEO of Ahern Rentals, a Las Vegas-based firm that hires out heavy construction equipment – confirmed to the Las…Read More

Scientific Games Continues Focus on Sports Betting With New Portfolio of Applications

Scientific Games Corp. announced late last week the launching of a suite of products for use by sportsbooks. The company, which processes more online sports bets than any other company, said in a statement that OpenSports is a slate of products designed to help enhance the experience for the customers of their sportsbook clients. In…Read More

Australia’s Ailing VIP Segment to Rebound in 2020 Due to New Economic Sentiment in China: Analyst

VIP segment

Australia’s casino sector is in the midst of VIP meltdown, although analysts predicted this week that recovery is in sight – just not until the next financial year. The downturn in Chinese VIP spending at the country’s two top casino operators has been marked in recent months. Crown Resorts announced in February that revenues from…Read More

Las Vegas Sands Divulges Expansion Plans During Quarterly Conference Call

Las Vegas Sands casino resort Singapore

Las Vegas Sands revealed its expansion plans during its company’s 2019 first-quarter earnings call with investors, and executives say the strategy is to build instead of acquire. Chief Financial Officer Patrick Dumont explained that the company is focused on its primary operating markets: Macau and Singapore. In total, Sands has committed more than $5.3 billion…Read More

Delaware North Sues Miomni Over West Virginia Sportsbook Snafu

Delaware North iGaming, Inc. announced on Friday it filed a lawsuit against its partner on claims it lied about owning technology needed for a joint venture sports betting platform that ultimately failed in West Virginia. The hospitality company, which filed the suit in a Delaware court Thursday evening, seeks monetary damages from Miomni Gaming Ltd….Read More

LVS Likely Settled for $96 Million in Legal Battle with Hong Kong Businessman, Per Earnings Report

LVS

In March, Las Vegas Sands Corp settled a long-running legal dispute with Hong Kong businessman Richard Suen, who claimed he enabled the casino giant to win licensing in Macau back in 2001. Based on LVS’ profits in the gambling hub since, Suen was asking for $346.9 million cut, and LVS settled for an undisclosed sum…Read More

Latest Tunica Casino Closure Shows Arkansas as a Growing Power

It’s not only the bettors who can lose in the gambling industry. Sometimes, the casinos themselves end up getting beat. On Tuesday, Penn National Gaming announced it would close the Resorts Casino in Tunica, Miss. later this year. The venue is one of three the company owns in the town, and Penn National cited increased…Read More

Proposed Mississippi Casino Site Now for Sale Despite Once Getting Attention of Donald Trump’s Company

Owners of promising property in Diamondhead, Mississippi — part of which was approved for a gaming venue — have no choice but to sell some or all the approximate 400-acre parcel due to financial conditions. Diamondhead Casino Corp. President Deborah Vitale confirmed to the Sun Herald the land was for sale and explained the company…Read More

New Jersey Smashed Online Gaming Revenue Records in March, Mobile Sports Betting Proves Game Changer

New Jersey online gaming

New Jersey online gaming revenues continued their eye-popping upward trajectory in March, almost hitting the $40 million mark, according to figures newly released by the state’s Division of Gaming Enforcement (DGE). Overall revenues not including online sports betting came in at $39,134,380, a record for the sector, beating the previous best by more than $5…Read More

The Drew Las Vegas Delays Opening by Two Years, 2022 Now Targeted for Strip Casino Resort

The Drew Las Vegas casino resort

The Drew, a 67-story blue behemoth that has sat unfinished on the Las Vegas Strip for more than a decade, will need at least another three years until the casino resort welcomes its first guests. Real estate developer Steven Witkoff originally hoped to have the Strip casino open in late 2020. He now says the…Read More

Carl Icahn Ally Tony Rodio Named New Caesars Entertainment CEO

Tony Rodio

Veteran casino executive Tony Rodio was formally announced as the new CEO of Caesars Entertainment early Tuesday, confirming rumors that had been swirling since Sunday night. Rodio, who last year was appointed CEO of Affinity Gaming, is a longtime right-hand man to Carl Icahn, the billionaire activist investor who has acquired around 20 percent of…Read More

Las Vegas Strip Casinos Feel Revenue Pinch From Airbnb Growth

Las Vegas Strip casino Airbnb

Casinos on the Las Vegas Strip are estimated to have lost around $150 million in room revenues due to accommodations booking service Airbnb. In a study conducted by Telsey Group Advisory – a research firm headquartered in New York City – casino resorts missed out on $150 million due to Sin City travelers booking through…Read More

Virgin Brand to Roll Into Las Vegas Via Planes, Trains and Casino Hotel

Virgin Trains USA

Not content with an impending Las Vegas casino and transatlantic passenger planes landing daily at McCarran International, billionaire Richard Branson also wants to bring his Virgin Trains USA brand to Las Vegas, via southern California. Branson launched the brand in Florida earlier this month after investing in trainline company Brightline, which triggered the rebrand to…Read More

Federal Judge Refuses to Dismiss New Hampshire vs. DOJ Wire Act Case

Wire Act

A federal judge in New Hampshire said Thursday that the issues surrounding the Department of Justice’s new Wire Act opinion — and the New Hampshire Lottery Commission’s (NHLC) ensuing legal challenge — were some of the most complex he had encountered in 26 years of service. He added that whatever his eventual ruling may be,…Read More

Caesars Entertainment Readying for Sale, Golden Nugget Billionaire Tilman Fertitta Remains Interested

Caesars Entertainment acquisition Carl Icahn

Caesars Entertainment will soon officially put the company up for sale, sources say, and Golden Nugget billionaire Tilman Fertitta is said to be at the center of the acquisition talks. The New York Post claims sources close to Caesars reveal the company will formally announce its intentions to be acquired as early as this week….Read More