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Casinos and Gaming

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  • TOKYO/ SEOUL, Nov 24- South Korea looks like the consolation prize as Japan's $15 billion casino dream fades, a setback for companies such as Las Vegas Sands Corp that envisioned a new gaming hub rivalling Las Vegas in 2020.. Japan is seen as the biggest unclaimed prize, a market that research firm Union Gaming estimated would generate $15 billion in annual...

  • California Indian casinos embroiled in turmoil Saturday, 22 Nov 2014 | 10:57 AM ET

    COARSEGOLD, Calif.— When it comes to controlling California's flashy Las Vegas-style casinos, the stakes are enormous for tribes who own the gambling operations that collectively generate billions of dollars a year to sustain Native Americans up and down the state. The National Indian Gaming Commission, which regulates Indian casinos, and a federal judge...

  • Regulators set deadlines for final casino license Friday, 21 Nov 2014 | 1:42 PM ET

    BOSTON— Gambling regulators have set new application deadlines for Massachusetts' third and final resort casino license. The Massachusetts Gaming Commission announced Friday that initial applications for the southeastern region, which is centered on Fall River and New Bedford, will be due Jan. 30. To date, the commission has received just one initial...

  • Mohegan Sun chief executive set to retire in 2015 Friday, 21 Nov 2014 | 5:31 AM ET

    UNCASVILLE, Conn.— Mitchell Etess, chief executive of the Mohegan Tribal Gaming Authority, says he plans to retire next year, but will stay on in a transition. He said he'll remain with the parent company of the Mohegan Sun casinos in Connecticut and Pennsylvania beyond the end of his contract on June 30, 2015. The Mohegan Sun failed to get a foothold in Massachusetts...

  • SHANGHAI, Nov 21- Hong Kong shares snapped a four-day losing streak on Friday as profit-taking pressure eased, but ended lower on the week despite the highly-touted launch of a landmark link between the Hong Kong and Shanghai exchanges. The Hang Seng Index unofficially closed up 0.4 percent at 23,437.12 points. Mainland China investors' interest in Hong Kong...

  • New York casino board meets as decision nears Friday, 21 Nov 2014 | 3:01 AM ET

    ALBANY, N.Y.— The decision on where to build casinos in upstate New York will make some developers very happy. "Sometimes silence is golden," said Michael Smith, part of a team pitching a casino at the former Nevele Resort in the Catskills. Voters last year authorized up to four upstate casinos, to be divided between three regions: the Albany- Saratoga area, the Southern...

  • Nov 20- Casino operator Wynn Resorts Ltd said it was not aware of any investigation after the Wall Street Journal reported that the company is being probed by U.S. federal authorities for possible violation of money-laundering laws. The Internal Revenue Service sent a letter to Wynn's outside lawyer Donald Campbell requesting information on the company's...

  • Nov 20- Casino operator Wynn Resorts Ltd is being probed by U.S. federal authorities for possible violation of money-laundering laws, the Wall Street Journal reported. Wynn Resorts did not immediately respond to a request for comment. Other casino operators including Las Vegas Sands Corp. and Caesars Entertainment Corp. have also faced federal...

  • Wynn investigated for possible laundering: DJ Thursday, 20 Nov 2014 | 3:41 PM ET
    Wynn Macau casino resort, operated by Wynn Resorts, in Macau, China.

    Wynn Resorts is under investigation for potential money-laundering law violations, according to a new report from Dow Jones.

  • Wynn Resorts probed on money laundering: DJ     Thursday, 20 Nov 2014 | 3:34 PM ET

    Dow Jones is reporting that Wynn Resorts is being investigated by the U.S. Attorney's office, the IRS and the DEA for possible money laundering. Insight into the investigation, with CNBC's Jane Wells.

  • Fed reviews bank examination program     Thursday, 20 Nov 2014 | 3:14 PM ET

    CNBC's Hampton Pearson reports the Federal Reserve is announcing two separate actions looking at its bank examination program.

  • Casinos push back on Massachusetts gambling limits Thursday, 20 Nov 2014 | 1:08 PM ET

    BOSTON— In a rarely used tactic meant to address gambling addiction, Massachusetts may require casinos to reward their customers for voluntarily setting limits on how much time and money they spend at slot machines under a proposal being considered by state gambling regulators. But the state's recently licensed casino companies— Wynn Resorts, MGM Resorts...

  • Mohegan Sun posts 4Q revenue slide, profit rise Thursday, 20 Nov 2014 | 12:45 PM ET

    HARTFORD, Conn.— Fourth-quarter revenue at the parent company of the Mohegan Sun casinos in Connecticut and Pennsylvania fell from the same period last year, but profit jumped significantly on cost-cutting, the casino operator announced Thursday. The Mohegan Sun in Connecticut and its neighbor, Foxwoods Resort Casino, have faced steadily falling revenue as...

  • Future dim for Taj Mahal, former Revel casinos Thursday, 20 Nov 2014 | 10:03 AM ET

    Trump Entertainment Resorts has said it will close the casino Dec. 12. Judge Kevin Gross issued an order late Wednesday scheduling the hearing on whether it's time to pull the plug on Trump Entertainment, which is about to close its last remaining casino. Gross also said that the main parties to the case— Trump Entertainment, billionaire Carl Icahn as its main...

  • Odd of sports betting     Thursday, 20 Nov 2014 | 7:44 AM ET

    NBC Sports' Dave Briggs, and Patrick Rishe, Sportsimpacts founder, discuss the likelihood of getting Federal legislation on sports gambling and the push to legalize pro sports betting.

  • Gloves off in NJ sports gambling fight     Thursday, 20 Nov 2014 | 7:42 AM ET

    The battle over sports gambling is heading to the courts, reports CNBC's Morgan Brennan.

  • Caesars reveals plan after creditor walks away Wednesday, 19 Nov 2014 | 7:10 PM ET

    LAS VEGAS— Overwhelmed with debt and seeking a way out from under it, Caesars Entertainment Corp. floated a plan that would have turned its most debt-heavy division into a real estate investment trust divided into two companies— one to own the casinos and hotels, and one to rent and manage them. The plan was first proposed to creditors Oct. 28, and after a creditor...

  • Caesars, creditors consider turning unit into REIT Wednesday, 19 Nov 2014 | 6:14 PM ET

    Caesars Entertainment proposed a restructure plan that would the debt of its largest unit into a real estate investment trust.

  • Brookfield halts plan to buy Atlantic City's Revel Wednesday, 19 Nov 2014 | 6:09 PM ET
    The Revel Casino in Atlantic City on July 30, 2014.

    Brookfield is abandoning its plan to buy the former Revel Casino Hotel in Atlantic City.

  • Pala tribe begins Internet gambling in New Jersey Wednesday, 19 Nov 2014 | 11:18 AM ET

    ATLANTIC CITY, N.J.— California's Pala Indians became the first tribe to offer Internet gambling in New Jersey on Wednesday. "Our launch in New Jersey is a huge step for the company, and we want to make sure we're rolling out one of the best, most user-friendly casino experience on the market," said Jeremy Clemons, Pala Interactive's chief marketing officer.