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Entertainment Gambling


  • TRENTON, N.J., Sept 22- Atlantic City, New Jersey's struggling gambling hub, won state approval on Tuesday to adopt a 2015 budget balanced without tax increases. The state's Local Finance Board unanimously approved the budget, which relies on at least $33 million of redirected casino revenues included in state legislation that Governor Chris Christie could...

  • SAO PAULO/ BRASILIA, Sept 22- Brazil's cash-strapped government is in talks with lawmakers over legalizing gambling to increase revenues as Congress balks at President Dilma Rousseff's efforts to overcome a budget deficit by raising other taxes. Brazil has banned casinos since 1946 and it outlawed bingo halls in 2007 amid concerns they facilitated money...

  • TOKYO, Sept 17- Japan's Universal Entertainment Corp said it has dropped demands for damages against three former employees it accused of making millions of dollars of unauthorized payments related to its Philippine casino project. Universal, controlled by billionaire pachinko gambling machine tycoon Kazuo Okada, said late on Wednesday in a filing with...

  • U.S. gambling sites start to accept PayPal Tuesday, 15 Sep 2015 | 11:58 AM ET

    PayPal quietly returned to the world of online gambling in the U.S., with CNBC's Eric Chemi.

  • Russia is building a giant casino in...Siberia! Sunday, 13 Sep 2015 | 9:48 PM ET
    Casino in Moscow, Russia.

    Russia's latest desperate attempt to develop the country's far east: a casino in Siberia, the Financial Times reports.

  • Real money in fantasy sports Thursday, 10 Sep 2015 | 2:14 PM ET
    Real money in fantasy sports

    Discussing the growth in the daily fantasy sports space, and the potential threat to sports gambling, with Christopher Jones, Union Gaming Group senior analyst, and Chad Beynon, Macquarie Capital SVP & senior analyst.

  • Caesars fined $8M for lax money-laundering controls Tuesday, 8 Sep 2015 | 2:10 PM ET
    The Forum Shops at Caesars

    The government fined casino operator Caesars Palace for repeated violations of the Bank Secrecy Act in its VIP gaming rooms.

  • BWIN accepts GVC offer Friday, 4 Sep 2015 | 3:02 AM ET
    BWIN accepts GVC offer

    Kenneth Jack Alexander, CEO of GVC, comments on the deal between GVC and BWIN and says that scale in the betting industry is ‘crucial’ to compete in the coming years.

  • Macau casino revenue plunges by over a third Tuesday, 1 Sep 2015 | 7:03 AM ET

    Gambling revenue in Macau dropped 35.5 percent in August from a year earlier, sliding for a fifteenth month in a row and providing more evidence of a deepening downturn.

  • China slowdown hits the Vegas Strip Friday, 28 Aug 2015 | 12:30 PM ET
    The Las Vegas strip.

    We know that China's slowdown has hurt Wall Street. But it's also causing problems in that other famous center of American speculation.

  • UPDATE 1-888 and GVC head into final battle for Bwin Friday, 28 Aug 2015 | 5:51 AM ET

    LONDON, Aug 28- A battle to buy online gambling firm Bwin.party is set to intensify this weekend with 888 likely to have to raise its 900 million pound offer to see off smaller rival GVC. Bwin has promised an update to the market on Tuesday after a long holiday weekend in Britain. The bid battle fits into wider consolidation in the gambling sector as firms try to bulk...

  • Playtech CEO mulls larger acquisitions Thursday, 27 Aug 2015 | 11:00 AM ET
    Playtech CEO mulls larger acquisitions

    Mor Weizer, CEO of Playtech, discusses his company and trends in the gambling industry.

  • *Paddy Power agrees merger with betting exchange Betfair. DUBLIN/ LONDON, Aug 26- Betfair and Irish rival Paddy Power have agreed in principle on a 5 billion pound merger to stake a claim to leadership of the online gambling market in Britain. "We fundamentally believe this industry is all about scale," said Betfair Chief Executive and ex- Paddy Power Chief Operating...

  • LONDON, Aug 26- Online gambling company Betfair and Irish rival Paddy Power said on Wednesday they had reached an agreement in principle on a 5 billion pound merger, marking the latest in a string of deals in the sector. Under the terms, Paddy Power shareholders would own 52 per cent of the group with Betfair shareholders owning the rest. Betfair Chief Executive...

  • 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.

  • HONG KONG, Aug 3- Gaming revenue in Macau fell 34.5 percent in July from the previous year, hovering around five-year lows as wealthy Chinese punters stayed away from the world's biggest gambling hub. Gambling revenue fell year-on-year to 18.6 billion patacas, according to data released by the Macau government on Monday. Macau is the only legal casino hub in...

  • A signing bonus for DraftKings Monday, 27 Jul 2015 | 10:00 AM ET
    A signing bonus for DraftKings

    DraftKings raises $300 million; now valued at around $1.2 billion.

  • 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.

  • 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...