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Casinos and Gaming

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  • 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.

  • NEW YORK, Feb 24- The shuttered Revel Casino Hotel in Atlantic City has struck an amended $82 million deal with Florida developer Glenn Straub's Polo North, according to a statement by its parent company. Polo North has increased its $10 million deposit to the full $82 million purchase price, the statement said. Last month, a U.S. bankruptcy judge approved the sale...

  • ATLANTIC CITY, N.J.— A Florida developer agreed to buy Atlantic City's former Revel Casino Hotel for $82 million on Tuesday, a week after a bankruptcy judge declared his former deal to buy it at a higher price dead. Glenn Straub's new contract gives him a discount from the $95.4 million his Polo North Country Club would have had to pay under the deal killed by the...

  • HONG KONG, Feb 24- A six-session winning streak for Hong Kong stocks ended on Tuesday, as HSBC Plc and casino shares sank while some investors locked in gains ahead of major 2014 earnings reports later this week. Hong Kong- listed shares of HSBC dropped 3.5 percent in their biggest fall in 18 months after the UK emerging markets-focused bank reported a...

  • *HSBC's Hong Kong shares fall 4 pct, at lowest since Sept 2012. HONG KONG, Feb 24- Hong Kong stocks fell on Tuesday, with HSBC Plc leading the slide after disappointed earnings, and casino stocks were under pressure as investors locked in gains while awaiting earnings reports from blue chips later this week. The China Enterprises Index of the top Chinese listings in...

  • Alex Bumazhny, analyst at Fitch Ratings, says the mainland's corruption crackdown is driving high rollers to the casinos in Australia, instead of Singapore.

  • ALBANY, N.Y.— New York Attorney General Eric Schneiderman is investigating the state's recent casino selection process for potential conflicts of interest, according to a developer whose bid for a license fell short. A state selection board in December recommended three winning casino proposals in the Catskills, Schenectady and the Finger Lakes.

  • HONG KONG, Feb 23- Hong Kong shares ended little changed on Monday, with gains in Tencent Holdings offsetting weakness in casino operators and oil firms and as most investors stuck to the sidelines awaiting major corporate earnings later in the week. Conglomerate Hutchison Whampoa as well as property firms including Cheung Kong, Sun Hung Kai Properties and New...

  • *HSBC to announce earnings on Monday, Cheung Kong later the week. HONG KONG, Feb 23- Hong Kong shares dipped on Monday, with oil firms and casino operators leading the slide, as investors awaited direction from major corporate earnings later the week, marking a weak start to the Year of Goat. Property group Cheung Kong and conglomerate Hutchison Whampoa are set to...

  • How casino operators can achieve sustainability  Sunday, 22 Feb 2015 | 9:30 PM ET

    Jon Oh, Research Analyst at CLSA, outlines the need for casino operators to focus on China's middle class. He later discusses his expectations for Genting Singapore's earnings.