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Studio City Macau Exploring IPO, But Financial Experts Are Calling Melco’s Bluff

Studio City Macau Lawrence Ho

Melco Resorts, owners of Studio City Macau, has filed paperwork with the US Securities and Exchange Commission (SEC) to explore selling shares in the property through an initial public offering (IPO), but financial experts aren’t sold that any stock issuance will come to fruition. NASDAQ-listed Melco Resorts & Entertainment, which owns a 60 percent stake…Read More

Maloof Brothers Place $880,000 on Floyd Mayweather Against Conor McGregor

Maloof brothers Floyd Mayweather fight

Gavin and Joe Maloof are thought to have recently made the largest bet on the August 26 Floyd Mayweather versus Conor McGregor fight, with two tickets placed at the South Point Casino sportsbook totaling $880,000. The Maloofs are backing the favorite and their friend Mayweather at -550, meaning they stand to make a $160,000 profit…Read More

Sands China Welcomes Back VIPs with Updates to Venetian, Plaza Casinos in Macau

Sands China VIP refurbishment

Sands China revealed in its half-year financial report plans to renovate VIP areas inside the Venetian Macau and the Plaza Macau. Slated for completion in 2018, the intent of the makeovers is to “create a new benchmark” for VIP gaming in the world’s richest gambling hub. Sands China, the operating unit of billionaire Sheldon Adelson’s…Read More

Resorts World Manila Suffers Hefty Q2 Loss in Wake of Deadly June Rampage

Kingson Sian, president and CEO of Travellers International

Resorts World Manila operator Travellers International revealed on Monday the financial damage inflicted by the deadly actions of lone gunman Jesse Javier Carlos on June 2. Travellers reported Q2 net losses of PHP311.2 million (US$6.1 million) for the three months leading up to June 30. That was more than a 50 percent drop compared to…Read More

Justin Thomas Wins First Major at PGA Championship, Sportsbooks Win, Too

Justin Thomas PGA Championship

Justin Thomas was one off the lead heading to the back nine yesterday during the final round of the 99th PGA Championship at Quail Hollow, and while his close pal Jordan Spieth was all smiles watching his friend compete for the Wanamaker Trophy, a more important person was smiling down on the 24-year-old: the golfing…Read More

Sam Nazarian’s SBE Entertainment Merger with Hakkasan Group Not a Dead Deal, SLS Sale Could Be Cause of Holdup

Sam Nazarian SLS Las Vegas

Privately held by Iranian-American businessman Sam Nazarian, SBE Entertainment had announced in March that it was partnering with Hakkasan Group, a luxury hospitality company best known in Las Vegas for its nightclub inside the MGM Grand. The merger was expected to be completed by the end of May, but here we are in August, and…Read More

Ethics Commission to Seize Maine Casino Backer’s Financial Records

Ethics Commission to Investigate Shawn Scott’s sister, Lisa

Maine’s ethics commission has voted to subpoena the personal financial records of Lisa Scott, the backer of a contentious casino project that politicians have accused of attempting to deceive the state’s voters. In the forthcoming November ballot, state residents will be asked to decide whether the proposed casino, which would be the state’s third, should…Read More

Macau Peninsula Playing Second Fiddle to Cotai Strip, Says Analyst

Macau becoming second-tier gaming market to Cotai

Macau’s downtown peninsula, the traditional gaming hub of the semi-autonomous enclave, is likely to go the way of downtown Vegas, becoming a secondary market eclipsed by the larger, grander properties of the Cotai Strip. So says says Andrew Klebanow, a senior partner of US-based consultancy Global Market Advisors. Klebanow suggested this week that downtown Macau will…Read More

Seven Years In, Cosmopolitan of Las Vegas Ready for $100 Million Overhaul

Chandelier Bar $100 million makeover Cosmopolitan of Las Vegas

As executives at the Cosmopolitan of Las Vegas get ready to spend more than $100 million in renovations to 2,895 of the property’s 3,027 rooms, they must be taking stock of how different the economic climate is in 2017. When the $3.9 billion property opened on December 15, 2010, it was at the height of…Read More

Crown Resorts Employees Set to Be Freed From Chinese Prison

Crown Resorts VIP Jason O'Connor

The last of Crown Resorts’ employees who were arrested by Chinese police more than 10 months ago are expected to leave the Shanghai jail where they were serving their sentences this weekend, bringing a close to an ill-fated trip to recruit high rollers on behalf of their Australian-based casino employer. The five remaining Crown staffers…Read More

Bloomberry Resorts Up 50 Percent from Philippines Chinese Tourism Boom, Visitors Undeterred by Manila Casino Tragedy

Enrique Razon Bloomberry Resorts Q2 2017 revenue spike

In Manila, Enrique Razon Jr.’s Bloomberry Resorts has reported record profits in the first half of the year, thanks in large part to a Chinese tourism boom in the Philippines. The company, which owns the Solaire Resort in Entertainment City, Metro Manila, saw net income rocket by 47 percent to $38.62 million in Q2 alone….Read More

Nevada Gaming Regulators Give Caesars Go-Ahead on Post-Bankruptcy Plan

Caesars Entertainment Chapter 11 bankruptcy

The Nevada Gaming Control Board (GCB) on Wednesday approved Caesars Entertainment’s corporate restructuring plans to emerge from Chapter 11 bankruptcy. While explaining the company’s future, Caesars CEO Mark Frissora promised to deliver new jobs and economic prosperity to the Silver State as part of the deal. The Caesars boss revealed that the corporation plans to…Read More

Partnership Approved for Development of Three Toronto-Area Casinos

Woodbine Racetrack and future casino

Two Canadian companies won a bidding process to expand a Toronto-area race track into a full-fledged casino, as part of a plan to modernize gambling options in Ontario. The Ontario Lottery and Gaming Corporation (OLG) has selected Great Canadian Gaming and Brookfield Business Partners to operate a trio of facilities, including the Woodbine Racetrack. OLG…Read More

Palazzo Security Guard Stabbed on Casino Floor Highlights Risks on Las Vegas Strip

A security guard at the Las Vegas Sands Palazzo resort investigating a transient man on the casino floor was stabbed in the chest early Wednesday morning. The employee, who was taken to the hospital and is in critical but stable condition, was not named, and officials at the Las Vegas Strip property had no comment….Read More

Proposed Second Philadelphia Casino Receives Blessing of State Gaming Board

Philadelphia casino Live! Pennsylvania

The long-delayed second Philadelphia casino is one step closer to breaking ground after the Pennsylvania Gaming Control Board (PGCB) voted unanimously that the financial backers behind the proposed resort are in full compliance with the state’s Gaming Act. The issue at hand is whether businessman Bob Manoukian, who owns a controlling 86 percent stake in…Read More