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MGM Resorts Announces $2B Stock Repurchase, Hints Potential Wynn Acquisition is No More

MGM Resorts Jim Murren stock repurchase

MGM Resorts says it plans to repurchase $2 billion worth of its own shares over an unspecified period of time, a motion that shows company executives are bullish on its future. The $2 billion repurchase follows a $1 billion stock buy announced last September. In a release, MGM says that buyback has been successfully completed,…Read More

NHL Stanley Cup Odds Favor Tampa Bay Lightning, Vegas Golden Knights

Stanley Cup odds Vegas Golden Knights

The Stanley Cup odds favor the Lightning and Golden Knights meeting in the NHL finals, with Tampa Bay expected to be the favorite over the first-year expansion team. Vegas advanced to the Western Conference Finals with a 3-0 shutout of the San Jose Sharks on Sunday to win the best-of-seven series 4-2. The Golden Knights…Read More

Morgan Stanley: Macau Gaming Poised for Continued Growth, Firm Raises Mass Market Forecast

Macau gaming mass market

Macau gaming should continue to see gross revenue growth “for the next few years.” That’s according to analysts at Morgan Stanley Asia, who opined this week that the enclave’s casino industry is healthy. That isn’t necessarily a surprise considering gross gaming revenue (GGR) climbed more than 19 percent in 2017 to $33.2 billion. Last year…Read More

Las Vegas Union Representing 50,000 Resort Workers Threatens Strike, Walkout Would Cripple City

Las Vegas union casino strike

The largest Las Vegas union in gaming and hospitality is threatening resort and casino operators with a strike that could see as many as 50,000 workers walk off the job. The Culinary Union, a branch of the nationwide Unite Here labor organization, will hold a vote May 22 at the Thomas & Mack Center of…Read More

Louisiana Legalizes Daily Fantasy Sports, But There’s a Catch

Louisiana DFS bill passed by legislature

The Louisiana legislature has voted to legalize daily fantasy sports. The State Senate on Wednesday approved the state’s DFS legislation by 21-15, following an overwhelming blessing from the House last month. But Louisiana DFS fans won’t be able to play with impunity just yet. Voters must decide at a November ballot whether the competitions should…Read More

NBA Odds Favor Golden State Over Houston, Cavs Finally Get Some ‘Love’

NBA odds Warriors Rockets Cavs

Las Vegas NBA odds favor the Golden State Warriors and Cleveland Cavaliers meeting for the fourth straight year in the championship series. But before Steph Curry and LeBron James once again square off, two teams will hope to block the rivalry rematch. On Tuesday night, the Warriors and Houston Rockets both capped off their semifinal…Read More

Las Vegas Lucky Dragon Casino Hoping for Bankruptcy Sale, But Main Creditor Has Other Ideas

Lucky Dragon for sale

Andrew Fonfa, owner of the Lucky Dragon Hotel & Casino, is hoping to sell the doomed venture via bankruptcy auction. According to the Las Vegas Review-Journal, bid procedures are scheduled to be considered at a court hearing on May 14, but there’s a big dispute about the valuation. Fonfa believes his property is worth $143…Read More

Pennsylvania Casino Could Save Historic Underground Railroad House

Pennsylvania casino satellite York

A Pennsylvania casino operator might come to the rescue of a historic house in York County that was part of the Underground Railroad in the 1800s. Penn National Gaming, which claimed the first satellite casino auction with a winning $50.1 million bid in January, selected a 15-mile radius centered in York County. Now, the casino…Read More

The Players Championship Odds: Spieth, McIlroy, Day Top List, Tiger, and Phil Lurk

The Players Championship odds Tiger Woods

The Players Championship tees off Thursday at TPC Sawgrass in Ponte Vedra Beach, Florida, where oddsmakers feel Jordan Spieth, Rory McIlroy, and Jason Day will battle for golf’s so-called fifth major. The Westgate SuperBook has all three superstars at 14/1 to win The Players. Spieth’s grouping with the shortest odds of the 144-man field comes…Read More

Bridgeport Casino Bill Dead for 2018 But MGM Scores Symbolic Victory in Connecticut House

Bridgeport casino bill pulled for 2018

The effort to bring a casino resort to Bridgeport, Connecticut was pulled from the State Senate on Tuesday, as the clock ticked towards the end of the legislative session. Proponents of the bill said there was simply not enough time to gather the required votes before the midnight Wednesday deadline, at a time when Senators…Read More

Las Vegas Casinos Grapple With Marijuana Legalities and Employee Testing Issues

marijuana Las Vegas casinos pot

Nevada’s new legal recreational marijuana laws have Las Vegas casinos inhaling confusion. And unlike Caesars Entertainment — which recently announced it would no longer screen most of its job applicants for pot use — most of the other major Strip operators are either keeping mum or continuing their screening for use of the drug, which…Read More

Park MGM Takes Over for Monte Carlo Casino in Las Vegas

MGM Park

The Monte Carlo Resort and Casino on the Las Vegas Strip officially rebranded as Park MGM today, Wednesday, May 9. The building’s $550 million revamp is far from complete, but on Wednesday, its website was displaying “introductory rates” on some of its rooms, offering guests a sneak peek at the Strip’s newest property at a…Read More

Caesars Drops Marijuana Testing for Prospective Employees, Multiple Factors Affect Decision

Caesars Entertainment drops marijuana testing

Caesars Entertainment has stopped testing prospective employees for marijuana use. The company told the Las Vegas Review-Journal Monday that Nevada’s recent legalization of recreational marijuana had been a major factor in revising its policy, but it was also driven by the simple need to recruit from a wider pool of talent. “A number of states…Read More

Ocean Resort Casino to Ride Hard Rock Wave, Announces Same June 28 Opening Date

Ocean Resort Casino opening Atlantic City

Ocean Resort Casino is opening June 28, the same day as Hard Rock, in what’s likely to become Atlantic City’s unofficial start to the 2018 summer. Though summer technically begins a week earlier on June 21, the opening of Ocean Resort and Hard Rock on the same day should attract a mob of visitors to…Read More

Derek Stevens’ Downtown Casino Plans Head to Las Vegas Planning Commission

Derek Stevens downtown casino

Derek Stevens, owner of the “The D” and Golden Gate in downtown Las Vegas, has submitted plans to the Las Vegas Planning Commission for his mysterious Fremont Street project, which will be the first new hotel and casino to be built from the bottom up downtown since 1980. The commission is scheduled to take a…Read More