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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.

Potential China Hainan Casino Won’t Steal Macau Profits, Credit Agency Fitch Opines

Hainan Island China casino expansion

Another Chinese gambling destination in the form of a Hainan casino is unlikely to shake up Macau’s gaming grip any time soon, according to a leading credit rating agency. Unless, of course, it is. As officials in Beijing contemplate whether to allow gambling on the southern tourist island of Hainan, Fitch Ratings is reporting that…Read More

Connecticut Satellite Casino Blueprint Leaves Some Locals Underwhelmed

East Windsor satellite casino Connecticut

The Connecticut satellite casino in East Windsor being jointly developed by the state’s two Native American tribes will come with 2,000 slot machines and up to 150 tables, and a five-story, 1,800-parking space garage. The Mashantucket Pequot and Mohegan Sun tribes submitted initial drawings this week to the town for the $300 million development. The…Read More

Japanese Lawmakers Propose Restricting Casino Visits For Nationals

Lawmakers propose limiting visits to Japanese casinos

Lawmakers in Japan tasked with drawing up a framework of regulation for the country’s future casino market presented a plan on Thursday designed to restrict Japanese nationals’ exposure to gambling. Under the proposal, Japanese citizens and foreigners living in the country would be limited to three visits to casinos in one week and a maximum…Read More

Public Split Over Wynn Boston Harbor Future, Poll Finds

Wynn Boston Harbor poll

The jury on Wynn Boston Harbor’s future is still out. That’s according to a new poll that suggests area residents have rather strong, yet contrasting opinions, on what to do with the $2.4 billion megaresort in the wake of billionaire Steve Wynn’s sexual allegation scandal. A poll released Friday by MassINC polling group in conjunction…Read More

River Rock VIP Manager Arranged Illegal Third-Party Cash Delivery for Gambler

River Rock Casino, British Columbia

Lisa Gao, the former director of VIP guest relations at British Columbia’s River Rock Casino, was deregistered by the Canadian province’s Gaming Policy and Enforcement Branch (GPEB) for arranging a third-party cash delivery for a high-rolling client. Gao’s actions were in direct violation of anti-money laundering laws (AML). Recent police and GPEB investigations suggest that…Read More

Party’s Over for Steve Wynn: Denied Golden Parachute, Must Vacate Wynn Resorts Suite Before Summer

In the opera known as “The Fall from Grace of Steve Wynn,” the fat lady has now hit her ultimate high note. The company he founded with his ex-wife Elaine in 2002 has now gone into full shun mode against him, with a Securities and Exchange Commission filing that was delivered to the SEC on…Read More

Okada Manila and Wynn Litigation Lead to $125.4 Million Loss for Universal Entertainment Corp

Kazuo Okada and Universal Entertainment

Japan’s Universal Entertainment Corporation posted a net loss of $125.4 million for the first three-quarters of the financial year, somewhat short of the $141 million profit it predicted in May 2017. The company cited expenses related to the completion of Okada Manila, its integrated casino resort in the Philippines’ Entertainment City, the total construction costs…Read More

Connecticut Foxwoods and Mohegan Sun Casinos Start 2018 Sluggishly

Connecticut casinos Foxwoods Mohegan Sun

Tribal Connecticut casinos Foxwoods and Mohegan Sun kicked off January with a less-than-amazing month, as slot revenue was down at both properties. After paying out winnings, Foxwoods kept $33.9 million from the gaming terminals, a 2.5 percent decrease compared to the same month in 2017. Mohegan Sun won $44.9 million, which equates to 5.3 percent…Read More

DFS Heavyweights DraftKings and FanDuel Packing Less Punch, as Sports Betting Opinions Change

DraftKings FanDuel sports betting

DraftKings and FanDuel, the two online daily fantasy sports (DFS) platforms that took 97 percent of the bets placed on the contests in 2017, are struggling to grow revenues.  That’s according to Eilers & Krejcik Gaming, a market research firm in California, that details the struggling DFS industry. A subset of fantasy sports, DFS was all the…Read More

Atlantic City Casinos Feel the Chill for January with Gaming Revenue Drops of 10 Percent, Blizzard Blamed

Atlantic City casino revenue

Atlantic City casinos saw gross gaming revenue skid 9.9 percent in January due to a severe blizzard that blanketed parts of southern New Jersey last month with up to two feet of snow shortly after the new year arrived. With travel nearly impossible after the January 4th storm, fewer gamblers made their way to the…Read More

Pennsylvania Mini-Casino Back in Picture for Harley-Davidson Maker Springettsbury, Previously Opted Out

Springettsbury Pennsylvania mini-casino

In the tiny township of Springettsbury, the prospect of a Pennsylvania mini-casino, just a few months after being rejected, is getting a second look. City supervisors have pulled an about-face since nixing the possibility as recently as December. The small town only two weeks ago finalized plans to expand its existing fabrication, paint, and assembly facility…Read More

George Soros Now One of Top Caesars Shareholders, Owns 4.9 Percent of Gaming Company in Bankruptcy Aftermath

George Soros Caesars Entertainment

Billionaire investor George Soros, through his family-controlled Soros Fund Management group, owns nearly five percent of Caesars Entertainment following the company’s Chapter 11 bankruptcy reorganization last fall. According to Bloomberg, the billionaire’s stake makes him one of Caesars’ Top 10 shareholders, with the holdings valued at $436 million. Soros also owns seven percent in VICI…Read More

GVC Ladbrokes Coral Takeover Could Cost 1,600 Jobs for Acquired Betting Company

im Mullen Ladbrokes Coral CEO job cuts

The GVC Ladbrokes Coral acquisition of one of the oldest and biggest bookmakers in Britain may be phenomenal news for the company buying it, but it could be a brutal blow for many employees of the company being bought out. The Isle of Man-based GVC Holdings, as an ever-growing gaming giant which already owns bwin,…Read More

Wynn Resorts Board, Hoping to Sidestep Liability Issues, Considers Life After Steve Wynn

Wynn Resorts board lawsuits

The board of Wynn Resorts is weighing its options, as the company looks to its future without former chairman and CEO Steve Wynn. The casino mogul stepped down a week ago Tuesday, after a decades-long sex scandal came to a head and rocked the company to its core. The steps taken by the board may…Read More

Seminoles Expected to Offer Compact Proposal Before End of Week

Seminole Gaming CEO Jim Allen discusses Seminole compact

Florida lawmakers have been locked in negotiations with the powerful Seminole tribal operator this week, as they try to thrash out a new gaming compact. Senator Bill Galvano, leading the negotiations, told The News Service of Florida he believes the Seminoles could come back with a proposed deal this week. “I believe everyone left that…Read More