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Travel Casinos and Gaming

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  • MANILA, Philippines— Property, retail and banking tycoon Henry Sy whose conglomerate owns the chain of SM Supermalls in his country and China has retained the title of the Philippines' richest person for the eight consecutive year, with his net worth up $1.7 billion from last year to $14.4 billion. Forbes Philippines, which puts together the list, said Thursday...

  • Paddy Power, Betfair to merge into online betting giant Wednesday, 26 Aug 2015 | 5:47 AM ET

    LONDON— Paddy Power and Betfair have agreed to merge, creating one of the world's largest online betting and gaming companies by revenue. The companies say Paddy Power shareholders would own 52 percent of the combined group and Betfair shareholders would own 48 percent. Paddy Power Chairman Gary McGann would be chairman of the combined group, with Betfair...

  • Back from death's door, Resorts casino is now profitable Wednesday, 26 Aug 2015 | 2:14 AM ET

    ATLANTIC CITY, N.J.— As recently as five years ago, Resorts Casino Hotel was near death, struggling to survive against bigger, newer Atlantic City casinos. In December 2009, Resorts' then-owners Colony Capital were within hours of handing over the keys to lenders and walking away from the casino. Months later, veteran casino executive Dennis Gomes and New York real...

  • A big win for A.C. casinos Tuesday, 25 Aug 2015 | 8:00 AM ET
    A big win for A.C. casinos

    Gross profit among Atlantic City casinos grows 28-percent with fewer left standing.

  • BOSTON— Massachusetts' top transportation official says Wynn has adequately addressed traffic and transit issues surrounding its planned $1.7 billion casino project for the Everett waterfront. She said Wynn's plan for transit-related improvements in the area, including a commitment to invest over $7 million into subway operations, will address...

  • ATLANTIC CITY, N.J.— Less competition has led to greater profits for most of the casinos that survived a painful shrinkage of Atlantic City's gambling market last year. In April, May and June of this year, Atlantic City collectively earned $132.1 million, compared with $103 million in the same period last year. Four of the city's 12 casinos shut down last year— the...

  • CZR in the red with the Feds Monday, 24 Aug 2015 | 6:00 AM ET
    CZR in the red with the Feds

    Caesars Entertainment to pay $20-million to U.S. over anti-money laundering lapses. - Reuters

  • BOSTON— Citing traffic concerns, Massachusetts Attorney General Maura Healey is calling upon state environmental officials to deny Wynn Resorts a key permit for its $1.7 billion casino project at the Everett waterfront. Healey said in a letter Friday to the state's environmental affairs secretary that Wynn should not get the permit until a plan is in place...

  • Virginia City saloon owner denied gambling license Thursday, 20 Aug 2015 | 5:04 PM ET

    LAS VEGAS— A California man who bought two saloon casinos in Virginia City will be forced to sell them after Nevada regulators said he was unfit to be involved in the state's gambling industry. The Nevada Gaming Commission unanimously denied Vincent Michael Malfitano a license on Thursday and barred him from being the casinos' landlord. He bought the Delta...

  • Hong Kong shares close at lowest level this year Thursday, 20 Aug 2015 | 4:16 AM ET

    The Hang Seng index fell 1.8 percent, to 22,757.47, while the China Enterprises Index, which tracks big Chinese companies listed in Hong Kong, lost 2.3 percent, to 10,402.72 points. Thursday's close was the lowest for the Hang Seng Index since Dec. 18. Hong Kong carrier Cathay Pacific fell 3.3 percent, following a downgrade by Credit Suisse.

  • LOS ANGELES, Aug 19- Finnish mobile gaming company Rovio Entertainment, best known for its high-flying "Angry Birds," is hoping to rebound from a tough 2014 and to expand in Asia by tailoring its games to draw local consumers. China accounts for a third of the nearly 40 million downloads of "Angry Birds 2" since July 30, making it the top market. For Birds 2, Rovio...

  • Massachusetts casino takes in $18M in first month Tuesday, 18 Aug 2015 | 7:19 AM ET

    PLAINVILLE, Mass.— State gambling regulators say Massachusetts' first casino made more than $18 million in gross gambling revenue in its first full month in business, generating $8.9 million for the state. Eric Schippers of Plainridge owner Penn National Gaming said the take was in line with expectations. Gambling experts warn that Plainridge's real test will...

  • BOSTON— A referendum which would have halted efforts by members of the Aquinnah Wampanoag tribe to bring electronic, bingo-style games to an unfinished tribal community center on Martha's Vineyard failed to win a two-thirds majority vote on Sunday. "The will of our citizens, based on the result of today's vote, is that there will be no change to present course of...

  • Weaker yuan deals Asia's casinos a losing hand Monday, 17 Aug 2015 | 12:16 AM ET
    People walk through a concourse with their luggage at Hong Kong International Airport.

    Asian travel hotspots may be counting on an ever-growing horde of Chinese tourists for growth, but the weaker yuan may choke off the flow of travelers.

  • Most big casino stocks suffering, but not this one Friday, 14 Aug 2015 | 2:33 PM ET
    Guests playing a slot machine at the Plainridge Park Casino in Massachusetts.

    Investing in gambling? Shares of PENN, a domestic casino company on the move, stand out with the rest of the industry in flux.

  • Echo's new Brisbane casino is a good idea: Pro Wednesday, 12 Aug 2015 | 11:34 PM ET
    Echo's new Brisbane casino is a good idea: Pro

    Scott Phillips, advisor at The Motley Fool Australia, says Echo Entertainment's plan for a new casino in Brisbane is a good idea. He also discusses news that James Packer has stepped down as chairman of Crown Resorts.

  • Why NagaCorp is bucking the gaming downtrend Wednesday, 12 Aug 2015 | 7:45 PM ET
    Why NagaCorp is bucking the gaming downtrend

    Timothy McNally, chairman of NagaCorp, attributes the company's 42 percent rise in gross gaming revenue to factors such as scale of operation and its focus on Southeast Asia.

  • Echo Entertainment: Profit up on local business Wednesday, 12 Aug 2015 | 6:42 PM ET
    Echo Entertainment: Profits rise on local business

    Matt Bekier, CEO of Echo Entertainment, says the company's domestic businesses such as Sydney's Star Casino underpinned the 59 percent jump in full-year net profit.

  • Aug 7- Zynga Inc reached a $23 million settlement to end litigation accusing the gaming company known for "FarmVille" of defrauding shareholders about its business prospects before and after its December 2011 initial public offering. In its quarterly report made public on Friday, Zynga said the settlement in principle was reached this week through mediation...

  • Aug 7- Zynga Inc reached a $23 million settlement to end litigation accusing the gaming company known for "FarmVille" of defrauding shareholders about its business prospects before and after its December 2011 initial public offering. In its quarterly report made public on Friday, Zynga said the settlement in principle was reached this week through mediation...