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Casinos and Gaming

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  • ATLANTIC CITY, N.J.— A professional poker player has sued a casino that claimed he won $9.6 million by cheating at baccarat, alleging it knew about defects in the cards and then destroyed evidence. Phil Ivey and his co-defendant, Cheng Yin Sun, filed a countersuit last week against the Borgata Hotel Casino& Spa, which sued the pair last year. They demand unspecified...

  • BOSTON— Lawsuits challenging Massachusetts' decision to award Wynn Resorts a gambling license have come with a hefty price tag. The state Gaming Commission and three cities involved in the legal fight— Boston, Revere and Somerville— have spent more than $1.4 million combined since the first complaints were filed in October, a review by The Associated Press has...

  • Boyd reports 2Q loss Thursday, 23 Jul 2015 | 5:18 PM ET

    LAS VEGAS _ Boyd Gaming Corp. on Thursday reported a second-quarter loss of $6.4 million, after reporting a profit in the same period a year earlier. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share. Six analysts surveyed by Zacks expected $549.9 million.

  • General Motors and SanDisk are big market movers Thursday, 23 Jul 2015 | 4:35 PM ET

    NEW YORK— Stocks that moved substantially or traded heavily Thursday on the New York Stock Exchange and the Nasdaq Stock Market:. Union Pacific Corp., down $5.56 to $92.12. Under Armour Inc., up $6.56 to $95.93.

  • LAS VEGAS— A deal involving Pinnacle Entertainment is the latest example of a casino company separating its gambling operations from its real estate to generate cash. Las Vegas- based Pinnacle announced this week it would sell most of its casino-hotels to a real estate investment trust, Pennsylvania- based Gaming and Leisure Properties Inc., in an all-stock...

  • Penn National Gaming beats 2Q profit forecasts Thursday, 23 Jul 2015 | 7:21 AM ET

    WYOMISSING, Pa.— Penn National Gaming Inc. on Thursday reported second-quarter profit of $16.9 million. For the current quarter ending in September, Penn National Gaming said it expects revenue in the range of $728.2 million. This story has been corrected to show that Penn National Gaming's per-share profit was 19 cents, which beat Wall Street estimates.

  • July 22- Casino operator Las Vegas Sands Corp's said cost cutting at its Macau properties helped it post better second-quarter earnings, compared with the first quarter, sending its shares up about 4 percent. Las Vegas Sands performed well in a tough Macau environment, Morningstar analyst Dan Wasiolek said. Las Vegas Sands said net income attributable to the...

  • Las Vegas Sands misses Street 2Q forecasts Wednesday, 22 Jul 2015 | 5:45 PM ET

    Still, Las Vegas Sands CEO and Chairman Sheldon Adelson called the quarterly results a solid set of financials considering the challenges the company has faced in Macau where a government corruption crackdown has led to a significant downturn in gambling in the Asian enclave. That train has left the station, "he said of competitors and what sets Las Vegas Sands...

  • New Bedford developer drops out of casino competition Wednesday, 22 Jul 2015 | 5:15 PM ET

    BOSTON— Developers of a planned Foxwoods casino for the New Bedford waterfront abruptly backed out of the competition for Massachusetts' final resort casino license on Wednesday, citing an inability to secure financing for the projected $650 million project. KG Urban Enterprises partner Barry Gosin said in a letter to the Massachusetts Gaming Commission...

  • Las Vegas Sands revenue falls 19.4 pct Wednesday, 22 Jul 2015 | 5:00 PM ET

    July 22- Casino operator Las Vegas Sands Corp reported a 19.4 percent fall in second-quarter revenue because of challenging conditions in Macao. The company's revenue fell to $2.92 billion from $3.62 billion a year earlier. Net income attributable to Las Vegas Sands fell to $469.2 million, or 59 cents per share, in the quarter ended June 30, from $671.4 million, or...

  • Monarch Casino beats Street 2Q forecasts Wednesday, 22 Jul 2015 | 4:57 PM ET

    RENO, Nev. _ Monarch Casino& Resort Inc. on Wednesday reported second-quarter earnings of $5.1 million. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share. Three analysts surveyed by Zacks expected $48.7 million.

  • Mohegan Sun takes gamble with online casino for NJ Wednesday, 22 Jul 2015 | 4:02 PM ET
    People play the slot machines at the Mohegan Sun in Uncasville, CT

    Mohegan Sun enters New Jersey's online casino market this week with a real-money gambling website, Mohegansun.com.

  • UPDATE 1-Caesars faces bankruptcy after losing key ruling Wednesday, 22 Jul 2015 | 3:41 PM ET

    CHICAGO/ WILMINGTON, Del., July 22- Caesars Entertainment Corp may be closer to joining its operating unit in bankruptcy after a federal judge refused to protect the casino company from creditor lawsuits seeking up to $11 billion, sending its stock plummeting. Caesars and its private equity backers Apollo Global Management LLC and TPG Capital, said staying...

  • July 20- Caesars Entertainment Corp reached an agreement with its lenders late on Monday night, hours after a New York state court judge threw out a lawsuit by the casino company against a group of creditors known as the second-lien noteholders. Caesars Entertainment will contribute an additional $200 million of Caesars Entertainment convertible notes to...

  • July 17- Employees at the Trump Taj Mahal casino, in New Jersey's struggling gambling hub Atlantic City, have voted to authorize a strike over sharp cuts in pay, benefits and other issues, their union said on Friday. About a thousand people would potentially walk out, including bartenders, cocktail waitresses, bellmen, cooks and housekeepers, according to Ben...

  • Union authorizes strike against Trump Taj Mahal Friday, 17 Jul 2015 | 10:11 AM ET

    Workers at Trump Taj Mahal have authorized a strike against the troubled Atlantic City casino as they await a federal appeals court ruling on whether the casino must restore health insurance and pension benefits that it scrapped last year. Trump Entertainment Resorts owns the property now, but lender Carl Icahn is taking ownership as it comes out of...

  • Judge keeps exhibit sealed in Las Vegas Sands case Thursday, 16 Jul 2015 | 2:13 PM ET

    LAS VEGAS— A Nevada judge on Thursday denied an attempt to unseal a private investigator's report in a wrongful termination case against casino company Las Vegas Sands Corp., Sands China Ltd. and the companies' chairman Sheldon Adelson. The ruling came after Guardian News& Media, the Campaign for Accountability and the union Unite Here argued that the public...

  • MGM to build $100M venue to lure artists to Las Vegas Wednesday, 15 Jul 2015 | 7:04 PM ET

    LAS VEGAS— MGM Resorts International plans to build a $100 million, 5,300- seat theater at its Monte Carlo casino-hotel to attract top musicians for weeks at a time. MGM also plans to overhaul and likely rename the Monte Carlo, its least recognizable property on the Las Vegas Strip. The MGM theater is expected to be about 1,000 seats larger than The Colosseum at...

  • Poker's biggest star misses final table at Series Wednesday, 15 Jul 2015 | 11:17 AM ET
    Daniel Negreanu on the floor after his elimination.

    Poker's biggest star, Daniel Negreanu, came up two places short of making the final table of the Main Event in the World Series of Poker.

  • Pro poker's biggest shark closes on tourney final Tuesday, 14 Jul 2015 | 1:14 PM ET
    Daniel Negreanu, World Series of Poker

    One of the biggest names in professional poker is just one day away from getting to the sport's biggest stage.