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Casinos and Gaming

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  • The casino is getting $14 million from the Casino Reinvestment Development Authority toward the $15 million total cost of both projects. The projects illustrate two trends underway in what until recently was the nation's second-largest gambling market after Nevada, but which has slipped into 3rd place behind Pennsylvania. And it also lets the Borgata...

  • Caesars' operating unit files bankruptcy exit plan Tuesday, 3 Mar 2015 | 12:20 PM ET

    March 3- The operating unit of casino company Caesars Entertainment Corp unveiled its plan to cut $10 billion of debt and to exit Chapter 11 in a late Monday filing with a U.S. Bankruptcy Court. Bankruptcy Judge Benjamin Goldgar in Chicago and creditors, a process that can easily take a year or more. The plan was filed on Monday when the parent company Caesars...

  • ATLANTIC CITY, N.J.— A Los Angeles developer involved in numerous projects there has made an 11th hour bid to buy Atlantic City's former Revel Casino Hotel. He is reviving the former Rialto Theater in South Pasadena, as well as the former Sears building in downtown Los Angeles. A bankruptcy court judge is to rule Wednesday on a proposed sale of Revel to Florida...

  • HONG KONG, Mar 3- Gambling revenue in Macau, the world's biggest gaming hub, plunged by a record 49 percent in February, as wealthy players shied away from China's only legal casino hub following the economic slowdown and Beijing's crackdown on conspicuous spending. Revenue fell for the ninth consecutive month to 19.5 billion patacas in February, from 38 billion...

  • LAS VEGAS— LAS VEGAS— The gambling gods were not kind to Caesars Entertainment Corp. in the fourth quarter. The losing streak at Caesars Palace, along with the costs to start up new restaurants and properties as well as overhead expenses, was enough to offset encouraging new revenue from its properties online and on the ground, said Caesars Entertainment CEO Gary...

  • UNCASVILLE, Conn.— The parent company of the Mohegan Sun casinos in Connecticut and Pennsylvania has elevated a key official to president. The Mohegan Tribal Gaming Authority announced Monday that Robert Soper, president and CEO of the Connecticut casino, will succeed Mitchell Grossinger Etess on March 30. Mohegan Sun has come up short in bidding competitions...

  • Visitors pose for a photograph below signage for the City of Dreams Manila casino resort

    Michael Van Cleef Ault, owner of Pangaea nightclub in Sinapore is now betting that Manila's casinos will be able to draw the rich through his doors.

  • SINGAPORE/ MANILA, March 2- More than three years after opening ultra-luxe nightclub Pangaea in Singapore's glitzy Marina Bay Sands, owner Michael Van Cleef Ault is now betting that Manila's casinos will be able to draw rich punters and partygoers through his doors. The increase in the number of wealthy Chinese gamblers fleeing Macau amid Beijing's...

  • MIAMI— As Florida lawmakers appear ready to allow key portions of the state's high-stakes gambling deal with the Seminole to expire, other gambling interests are watching keenly for openings in the multi-billion dollar industry if the tribe and Gov. The tribe owns six casinos in Florida, including the highly profitable Hard Rock Casinos in South Florida and...

  • ALBUQUERQUE, N.M.— New Mexico lawmakers are facing a hard deadline as agreements that allow a handful of American Indian tribes to operate casinos approach their expiration date. However, some lawmakers say New Mexico is veering off course. Tribes that operate casinos in New Mexico reported more than $731 million in net winnings in 2014. Net winnings are the...

  • ALBANY, N.Y.— The state's casino location board on Friday moved forward with new bidding from developers for a license in New York's Southern Tier. That resulted in December recommendations for new casinos in the Catskills, Schenectady and the Finger Lakes. Tioga Downs, the racino in Nichols, was one applicant from the state's Southern Tier in the earlier bidding.

  • Graceland brings Elvis back to his Las Vegas home Thursday, 26 Feb 2015 | 2:01 PM ET

    LAS VEGAS— Graceland will always be home, but Las Vegas is set to be Elvis Presley's home away from home yet again. Officials with Elvis Presley Enterprises Inc. and the Westgate Las Vegas casino-hotel revealed details Thursday of plans for "Graceland Presents Elvis: The Exhibition- The Show- The Experience" expected to open April 23, 59 years to the day when Elvis...

  • Monarch Casino beats Street 4Q forecasts Wednesday, 25 Feb 2015 | 7:09 PM ET

    RENO, Nev. _ Monarch Casino& Resort Inc. on Wednesday reported fourth-quarter earnings of $3.8 million. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share. Analysts expected $44.6 million, according to Zacks.

  • New Jersey approves Resorts casino for Internet gambling Wednesday, 25 Feb 2015 | 6:46 PM ET

    ATLANTIC CITY, N.J.— New Jersey's fledgling Internet gambling market got a new player Wednesday as Atlantic City's Resorts Casino Hotel got the go-ahead to conduct Internet gambling in the state. "Real-time feedback will be an important aspect of our beta period as we further enhance the gaming content and features to produce the best casino experience in New...

  • Problems in paradise as Macau casinos soft  Wednesday, 25 Feb 2015 | 2:22 PM ET

    Christopher Jones, Union Gaming, outlines reasons for weakness in gaming stocks.

  • Rejected Catskill casino bidder pursues smaller resort Wednesday, 25 Feb 2015 | 1:42 PM ET

    WAWARSING, N.Y.— Developers who failed to land a casino license at the site of an old Borscht Belt hotel in the Catskills hope to build a smaller sports and gambling resort there. The group that wanted to run a Las Vegas-style casino at the shuttered Nevele Resort in Ulster County say they have asked the Cuomo administration for support for legislation to operate...

  • Isle of Capri Casinos tops Street 3Q forecasts Wednesday, 25 Feb 2015 | 8:39 AM ET

    ST. LOUIS _ Isle of Capri Casinos Inc. on Wednesday reported fiscal third-quarter earnings of $5.4 million. Analysts expected $226.3 million, according to Zacks. Isle of Capri Casinos shares have climbed 20 percent since the beginning of the year.

  • Hong Kong shares end flat amid economy concerns Wednesday, 25 Feb 2015 | 3:13 AM ET

    HONG KONG, Feb 25- Hong Kong shares erased early gains to finish flat, with investors shrugging off better-than-expected China industrial data that only partly alleviates concerns about slowing growth in the world's second-largest economy. Shares of casino operators dived, with Galaxy Entertainment and Sands China both dropping more than 5 percent.

  • NEW YORK, Feb 24- The shuttered Revel Casino Hotel in Atlantic City, New Jersey, again has a buyer- and again it's Florida developer Glenn Straub, who was lured back by a discounted price of $82 million. New Jersey's governor, Chris Christie, recently appointed an emergency manager to reinvigorate the city's finances and appointed Kevyn Orr, who put Detroit into...

  • Atlantic City's Revel casino sells for just $82M Tuesday, 24 Feb 2015 | 5:02 PM ET
    The now-closed Revel Casino in Atlantic City, New Jersey.

    A deal to sell Atlantic City's former Revel Casino Hotel to a Florida developer has been resurrected, albeit for a lower price.