PITTSBURGH— The Pennsylvania Supreme Court has ruled that a mandatory $75,000 fine imposed on a Pittsburgh casino poker dealer convicted of having stolen $200 worth of chips is unconstitutional.» Read More
With four casinos shutting down in Atlantic City by October, New Jersey is suddenly awash in plans for, well, more casinos. The NYT reports.
Atlantic City's Revel Casino Hotel is still seeking bidders in bankruptcy court.
Aug 18- Atlantic City's Revel Casino Hotel is still seeking bidders in bankruptcy court, but its ability to find a buyer will improve once it closes and stops "bleeding money," its attorney said at a hearing on Monday. The hotel is scheduled to close after guests leave on Sept. 1, with gambling operations to cease at 5 p.m. the next day.
Frank Fantini, Fantini Research, and Chris Jones, Telsey Advisory Group, discuss the current state of the gaming and casino industry.
CAMDEN, N.J.— The troubled Revel Casino Hotel in Atlantic City still hopes to auction off its property but needs to close to stop big losses, a lawyer for it said. Attorney John Cunningham said in bankruptcy court Monday that the casino is losing more than $1 million every week, The Press of Atlantic City reported.
The recently-formed political group is funded by gambling giants MGM Resorts International, Mohegan Sun and Penn National Gaming. Campaign spokesman Stephen Eisele said two dozen volunteers canvassed in the communities of Winthrop, Bourne, Lexington, East Longmeadow and Ludlow.
Before summer ends, four casinos will be shuttered, leaving Atlantic City looking for a way to avoid having dark, empty shells on its Boardwalk.
Following blow-out first-half earnings, Sands China's CEO brushed off concerns about any negative impacts from the government's anti-graft campaign.
Edward Tracy, CEO of Sands China, explains why China's anti-graft drive won't impact the firm and discusses why he thinks fears about the impact of new regulatory curbs are overblown.
ATLANTIC CITY, N.J.— If the owners of Revel Casino Hotel had their way, the $2.4 billion resort would have been shut down on Monday. Revel Entertainment had asked New Jersey casino regulators for permission to close down on Aug. 18.
ATLANTIC CITY, N.J.— Before summer ends, Revel, Trump Plaza, the Showboat and the Atlantic Club will be shuttered ex-casinos, leaving Atlantic City officials looking for a way to avoid having dark, empty shells on its signature Boardwalk.
Aug 16- When the $2.4 billion Revel Casino opened its doors in 2012, the curvy blue-glass tower was hailed as the wave of the future for Atlantic City, New Jersey.
ATLANTIC CITY, N.J.— The $2.4 billion Revel Casino Hotel that opened just over two years ago as a hoped-for savior for Atlantic City's flagging casino industry will close a week earlier than originally planned, the company announced in an email Friday.
NEW YORK, Aug 15- Large global banks are facing increased pressure from U.S. regulators to clamp down on casino money-laundering as the government pushes the industry to police not only its own transactions but customers' as well.
Grant Govertsen, Principal Analyst at Union Gaming Group, expects Macau's gaming sector to remain soft until early next year amid a weaker-than-expected VIP market.
SAN FRANCISCO, Aug 14- A group of ex-gaming industry executives say they can use their design chops to solve a major health challenge: Sick patients neglecting to take their medication and costing employers and insurance providers billions of dollars.
Jon Oh, Research Analyst for the Gaming and Lodging sectors at CLSA, says Chinese mass market gamers can spur growth in Macau's gaming sector moving ahead.
Christie and New Jersey Democrats have said Atlantic City's economy, heavily dependent on casinos, needs to be broadened.
Chris Christie vowed Thursday to do everything he can to help laid-off Atlantic City casino workers find new jobs after the hotels they work for close next month. Atlantic City started the year with 12 casinos but will have just eight remaining by fall.
Aug 13- New Jersey Governor Chris Christie said on Wednesday he would convene a bipartisan summit in September to seek ways to rescue Atlantic City from a slump in its mainstay casino business. Atlantic City has struggled with casino closures as neighboring states have lured gamblers away.