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Casinos and Gaming

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  • New ‘Oz’-themed casino is coming to New York Monday, 22 Dec 2014 | 7:15 AM ET

    The Oneida Indian Nation plans to open a $20 million casino with a "Wizard of Oz" theme in the village where author L. Frank Baum was born.

  • Time to be risk averse in Chinese markets?  Sunday, 21 Dec 2014 | 7:25 PM ET

    Sam Le Cornu, Senior Portfolio Manager at Macquarie Funds Group, explains why he's viewing the rally in China with caution and outlines the opportunities in Macau's gaming shares.

  • Oneida Indians plan new 'Oz'-themed NY casino Sunday, 21 Dec 2014 | 11:38 AM ET

    Ray Halbritter, chief executive officer of the Oneida Nation, said in a news release that the 67,000- square-foot casino will open in the spring in Chittenango, 14 miles east of Syracuse. The Oneidas announced plans for the Yellow Brick Road Casino four days after a state panel recommended licensing three non-Indian casinos, including a $425 million casino and...

  • Moody's: Casinos good for NY communities Friday, 19 Dec 2014 | 1:41 PM ET

    ALBANY, N.Y.— A leading rating agency says new casinos coming to upstate New York will benefit their local communities— even though the overall outlook for the gambling industry remains negative. Moody's Investors Service says Friday that this week's decision to award casino licenses to projects in Sullivan, Seneca and Schenectady counties is a "credit...

  • Construction set to start on Finger Lakes casino Friday, 19 Dec 2014 | 7:19 AM ET

    The Post-Standard of Syracuse reports that the head of Rochester- based Wilmorite says digging for the $425 million casino in the Seneca County town of Tyre is set to begin Friday. The other two will be built in the Catskills in Sullivan County and in the city of Schenectady. The Lago casino will be built near the northern end of Cayuga Lake on an 85- acre site along...

  • Saving Atlantic City: Steve Schirripa  Friday, 19 Dec 2014 | 6:53 AM ET

    Actor Steve Schirripa, shares his thoughts on Sony's decision to pull the plug on "The Interview." And Schirripa weighs in on how to revitalize Atlantic City. Make it a city instead of a slum with casinos, says Schirripa.

  • Better days for Macau gaming sector ahead?  Thursday, 18 Dec 2014 | 10:24 PM ET

    Macau will see less risk of profit declines in 2015 as mass market revenue could see an uptick, says Grant Govertsen, Principal, Analyst, Union Gaming Group.

  • Gloomy days ahead for Macau gaming shares  Thursday, 18 Dec 2014 | 7:34 PM ET

    Jon Oh, Research Analyst for Gaming and Lodging at CLSA, expects shares of casino operators to underperform for the next 1-2 quarters as Macau goes through a painful transition.

  • Is it time to pick up Macau gaming stocks?  Thursday, 18 Dec 2014 | 7:24 PM ET

    Valuations of gaming plays such as Melco Crown look interesting, but it could be a "valuation trap" amid falling casino revenues in Macau, says Tim Seymour, CIO at Triogem Asset Management.

  • China crackdown is 'healthy' for Macau casinos: Pro  Thursday, 18 Dec 2014 | 5:48 PM ET

    Beijing reportedly plans to restrict illegal money transfers from China to Macau, as part of its anti-graft drive. Jonathan Galaviz, Partner at Global Market Advisors, says the clean-up will benefit Macau's long term health.

  • Dec 18- Billionaire investor Carl Icahn offered $20 million in financing on Thursday to keep the Trump Taj Mahal from becoming the fifth casino to close this year in New Jersey's troubled Atlantic City, was once the only major destination for gamblers on the U.S. East Coast. The Taj, owned by bankrupt Trump Entertainment Resorts Inc., is slated to close on Saturday.

  • Dec 18- Billionaire investor Carl Icahn offered to lend $20 million to help bankrupt casino operator Trump Entertainment Resorts Inc keep its Trump Taj Mahal casino in Atlantic City open.

  • Icahn offers $20M to keep Taj Mahal casino open Thursday, 18 Dec 2014 | 2:18 PM ET
    Carl Icahn

    Carl Icahn will provide up to $20 million to finance the Trump Taj Mahl, he said in a letter to Trump Entertainment Resorts CEO Robert Griffin.

  • Icahn promises Taj Mahal casino $20M to stay open Thursday, 18 Dec 2014 | 1:57 PM ET

    In a letter dated Thursday, Icahn promised Trump Entertainment Resorts that he would provide enough money to keep the casino open throughout bankruptcy proceedings. "Many people would still argue that it would be a better financial decision for me to let the Taj close and wait to see whether a global settlement can be reached," Icahn wrote to Trump Entertainment...

  • Judge to rule on FBI ruse in case against Malaysians Thursday, 18 Dec 2014 | 1:43 PM ET

    LAS VEGAS— A federal judge said Thursday she'll rule soon on whether the FBI improperly entered suites at a Las Vegas Strip casino without a warrant during a probe of what prosecutors say was illegal gambling involving a Malaysian businessman and his son. They also didn't have the permission of Caesars Palace employees, although a casino technical contractor...

  • SD Supreme Court says gambling promos not taxable Thursday, 18 Dec 2014 | 11:37 AM ET

    PIERRE, S.D.— Gambling boosters lauded this week's South Dakota Supreme Court decision that Deadwood casinos will no longer have to pay gambling taxes on promotional programs that give patrons free credits to play slot machines, saying Thursday that it'll save operators big money. Deadwood Gaming Association Executive Director Mike Rodman said the...

  • Contrite Vegas hotelier wins gambling license Thursday, 18 Dec 2014 | 2:14 AM ET

    LAS VEGAS— A contrite Sam Nazarian who revamped the Sahara hotel and casino on the Strip, won a gambling license from Nevada's regulators Thursday but not without limits and a promise that the nightlife magnate would remain under heavy scrutiny. He said Thursday he had sought the medical help of a Las Vegas doctor to determine if he has a substance abuse problem.

  • China continues to put the squeeze on Macau casinos  Thursday, 18 Dec 2014 | 12:19 AM ET

    Ahead of Chinese President Xi Jinping's visit this weekend, authorities are cracking down on illicit fund flows into Macau from the mainland. CNBC's Emily Tan has more.

  • Nightlife king faces queries from gaming regulator Wednesday, 17 Dec 2014 | 8:55 PM ET

    LAS VEGAS— A Los Angeles nightlife entrepreneur who revamped Las Vegas' Sahara Hotel and Casino into a hipper, sleeker destination is getting ready to defend his past again so he can obtain a Nevada gambling license after admitting recent cocaine use and explaining his curious business dealings with felons. "What he has run into is history," said Michael Green, a...

  • Xi's visit to Macau deals cold deck to VIP gamblers Wednesday, 17 Dec 2014 | 7:18 PM ET

    Chinese President Xi Jinping arrives in Macau with a clear message: the world's biggest gambling center cannot remain a one-industry town.