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Gaming Business News

When gaming operators play “Let’s make a deal,” it’s serious business. Find out about the latest acquisitions and mergers, and how it will impact the gambling universe at large.

Osaka Wants Integrated Resort Operator to Help Pay for Japan World Expo 2025

Osaka integrated resort World Expo

Osaka has emerged as one of the prime locations that is likely to host an integrated resort in Japan. But government officials are now saying that any operator that wants to build a casino in the city should be prepared to help pay for the 2025 World Expo as well. The Osaka government is not…Read More

Analysts Bullish on 2019 Macau Gaming Stocks, Predict 20 Percent Growth

gaming stocks Macau casino revenue

Gaming stocks for casino operators invested in Macau are positioned to grow in 2019. That’s according to research from Japanese brokerage firm Nomura, which says in a note this week that it’s bullish on the industry in the year ahead. Nomura’s note predicts that companies publicly traded in the US with casino resorts in Macau…Read More

Foxwoods Reports Slots Revenue Dips as MGM Competition Starts to Pinch, Satellite Casino Still Nowhere in Sight

Foxwoods

Connecticut’s Foxwoods Resort Casino reported a 10 percent drop in slots revenue in October, as competition from Massachusetts’ MGM Springfield begins to bite. The Mashantucket Pequot-owned casino resort said the year-on-year plunge followed a 5 percent decline in September. Connecticut’s other tribal casino, Mohegan Sun, has not yet reported but said its slots revenue fell…Read More

Atlantic City Gaming Revenue Up 16 Percent in October, But Older Casinos Paying Price

Atlantic City gaming revenue Hard Rock

Atlantic City gross gambling revenue (GGR) totaled $239 million in October, a 15.8 percent year-over-year premium, but the win largely came at the expense of older casinos. Borgata, Bally’s, Caesars, Golden Nugget, Harrah’s, and Resorts all reported lower land-based GGR in October 2018 than October 2017. Only Tropicana posted a gain, and it was modest…Read More

Controversial Saipan Casino Shut Down After Super Typhoon Yutu Causes ‘Millions’ in Damage

Typhoon Yutu

Embattled Saipan casino developer Imperial Pacific International (IPI) has announced it will close its Imperial Palace Casino “until further notice” from Friday after a super typhoon devastated the Pacific island three weeks ago. Super Typhoon Yutu struck Saipan and Tinian in the Northern Mariana Islands on the morning of October 25, killing two people and…Read More

Harrah’s Atlantic City Announces $56M Renovation, Competition Spurring Investments

Harrah's Atlantic City casino revenue

Harrah’s Resort in Atlantic City is set to undergo a major renovation, as parent company Caesars Entertainment revealed this week that it will spend $56 million to upgrade all 507 guestrooms and suites in its Harbour Tower, the property’s original hotel structure that opened in 1980. The first casino resort in Atlantic City not on…Read More

Atlantic Club Has Another Interested Buyer, Future of Long-Shuttered Atlantic City Casino Unknown

Atlantic Club Atlantic City casino

The Atlantic Club has sat vacant since shuttering in 2014, but the Boardwalk property might soon have a new owner. Advanced Consulting, a real estate firm based in New York, tells the Press of Atlantic City that it’s in “heavy negotiations” with current owners TJM Properties to acquire the former casino resort. “Work is being…Read More

Imperial Pacific Denounces ‘Fake News’ Bankruptcy Rumors

Imperial Pacific

Saipan casino developer Imperial Pacific International (IPI) says that rumors circulating on social media regarding the company’s financial status and one of its senior executives are false. In a press statement released Monday, the company categorically denied it had entered into bankruptcy proceedings, adding that it had initiated legal action against the unnamed source of…Read More

Kentucky Downs Racetrack and Gaming Parlor Sold to Thoroughbred Owner, Former Casino Executive

Kentucky Downs historical racing terminals

The Kentucky Downs horse racetrack and gaming parlor featuring 750 historical racing terminals is being sold to a thoroughbred owner and former casino executive. The undisclosed deal transfers the venue from its current owners Kentucky Downs Partners to a recently formed entity called Kentucky Racing Acquisition. The latter is owned by Ron Winchell, a prominent…Read More

NBA Signs First European Sports Betting Partnership with French State-Owned Gaming Operator Française des Jeux

NBA

The NBA is beginning to realize that opportunities arising from its new relaxed attitude to sports betting are not confined to the recently liberalized US market. On Tuesday, the league announced it had signed an exclusive partnership deal with Française des Jeux (FDJ), the government-owned French national lottery provider and the largest sports betting operator…Read More

Billionaire Dan Gilbert Sells Greektown Casino to Caesars REIT and Penn National for $1B

Dan Gilbert Greektown Casino Detroit

Dan Gilbert, the billionaire founder of Quicken Loans and owner of the NBA’s Cleveland Cavaliers, is selling his Greektown Casino-Hotel in Detroit to Caesars’ real estate investment trust (REIT) and Penn National Gaming for $1 billion. Caesars’ REIT, VICI Properties, is paying $700 million for the land and real estate assets, and Penn National is…Read More

Typhoon Mangkhut Cost Macau’s Casino Industry $119 Million

Mangkhut

September’s Typhoon Mangkhut caused an estimated $119 million worth of damage to Macau’s casino industry, according to new figures from the enclave’s Statistics and Census Service (MSCS). The total economic hit to the enclave — both directly and indirectly — across all sectors was around $192 million. But these figures are lower than some analysts…Read More

Macau Government Praises Remaining Junkets, Operators Request Tax Break

Macau government casinos junket

The Macau government says the remaining junket companies catering to China’s mainland elite are playing a vital role in the resurgence of the enclave’s gaming industry, and are doing it while better adhering to the appropriate regulations than in years past. Macau’s Gaming Inspection and Coordination Bureau Director Paulo Martins Chan said this week there’s…Read More

Wynn Resorts Forecasts Macau Slowdown, Analysts Downplay Concerns

Wynn Resorts Macau casino revenue

Wynn Resorts CEO Matt Maddox delivered investors a rather gloomy forecast for Macau during last week’s third quarter conference call, but not all analysts are sold on the idea that the gaming enclave is headed for a slowdown. Maddox revealed that since Golden Week kicked off October, the company’s three Macau casinos have struggled. We’ve…Read More

Golden Entertainment Results Far From Stratospheric, Company Posts Q3 Loss

Golden Entertainment

Stratosphere owner Golden Entertainment said during an earnings call this week it had experienced a “challenging” third quarter, as it posted a net loss of $3.1 million. Revenues for the tavern owner-turned budding casino giant nearly doubled to $210.3 million from $107.7 million, but the company failed to hit analysts’ forecasts, according to Zacks. The…Read More