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Casinos and Gaming

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  • LAS VEGAS— Elaine Wynn failed Friday to win re-election to the board of Wynn Resort Ltd.— the casino-hotel company she co-founded with ex-husband Steve Wynn— a development that ended a feud over the issue. Shareholders who had to decide between re-electing Elaine Wynn or agreeing with a company recommendation to re-elect two other sitting board members...

  • Debate: Bet on Las Vegas Sands?   Thursday, 23 Apr 2015 | 12:30 PM ET
    Debate: Bet on Las Vegas Sands?

    Las Vegas Sands is taking a hit after weak earnings. Dr. J is a bull and would buy the stock on dips.

  • ATLANTIC CITY, N.J.— There are 1,400 jobs available right now in Atlantic City's casinos, but only 350 of them are full-time positions, according to a survey undertaken by a New Jersey casino regulator. Matt Levinson, chairman of the Casino Control Commission, told The Associated Press on Thursday that he called officials at all eight casinos to find out what jobs...

  • Penn National Gaming beats 1Q profit forecasts Thursday, 23 Apr 2015 | 8:51 AM ET

    WYOMISSING, Pa. _ Penn National Gaming Inc. on Thursday reported first-quarter profit of $11 million. For the current quarter ending in June, Penn National Gaming said it expects revenue in the range of $672.7 million. Penn National Gaming shares have risen 20 percent since the beginning of the year.

  • Pinnacle Entertainment tops Street 1Q forecasts Thursday, 23 Apr 2015 | 8:39 AM ET

    LAS VEGAS _ Pinnacle Entertainment Inc. on Thursday reported first-quarter earnings of $27.3 million. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share. Pinnacle Entertainment shares have increased 62 percent since the beginning of the year.

  • Monarch Casino tops Street 1Q forecasts Wednesday, 22 Apr 2015 | 5:09 PM ET

    RENO, Nev. _ Monarch Casino& Resort Inc. on Wednesday reported first-quarter profit of $4 million. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share. Three analysts surveyed by Zacks expected $46 million.

  • LAS VEGAS— Las Vegas Sands Corp. CEO Sheldon Adelson said he knew what question was coming: when would the steady and steep decline in the world's most lucrative gambling market hit bottom? A corruption crackdown that has shaken up the up-until-recently skyrocketing gambling business in Macau, China has sped swift drops in revenue and activity there.

  • Hassan: Market may not exist for 2 New Hampshire casinos Wednesday, 22 Apr 2015 | 12:43 PM ET

    Maggie Hassan on Wednesday questioned whether New Hampshire could sustain two casinos but didn't say if she would veto a two-casino bill currently making its way through the Legislature. Hassan, a Democrat, strongly supports authorizing one casino in New Hampshire as a means to generate new revenue. Hassan says the state is losing money when New Hampshire...

  • Job fair a hope for laid-off Atlantic City casino workers Wednesday, 22 Apr 2015 | 12:37 PM ET

    ATLANTIC CITY, N.J.— There were only about 100 jobs available, and most of them will last for only three months. But that did not discourage a large crowd of applicants looking for work Wednesday at The Chelsea, a boutique non-casino hotel in Atlantic City. Among them was Ronald Roberts, who lost his job as a cook when the Showboat casino shut down last August.

  • Senate and House budget leaders said they're looking for ways to handle a projected slowdown in the growth of state tax collections, which leaves them with about $213 million less than they expected when they began working on the two-year state spending plan. Senate Appropriations Committee Chairman Luke Kenley, R- Noblesville, said he expects "some pain" from...

  • ATLANTIC CITY, N.J.— The former owners of the Revel casino are acknowledging a long list of mistakes that helped kill the $2.4 billion resort, including an onerous energy contract that strangled it from the get-go. The filing puts much of the responsibility on Revel's initial management, led by former CEO Kevin DeSanctis. Unable to raise the money to build a power...

  • Twin River management proposes new casino in Tiverton Tuesday, 21 Apr 2015 | 11:34 AM ET

    PROVIDENCE, R.I.— A new casino in Tiverton with table games and easy access to state highways would allow Rhode Island to compete with neighboring Massachusetts for gambling revenue, state casino operators said Tuesday. Twin River Management Group has secured the rights to acquire 45 acres of land off of Route 181, along the Massachusetts state border, and the...

  • Mohegan Sun to build casino at Korean airport Tuesday, 21 Apr 2015 | 9:01 AM ET

    NEW LONDON, Conn.— The Indian tribe that operates the Mohegan Sun casino in Connecticut has reached an agreement to build and run a gaming resort on the grounds of Incheon International Airport in South Korea. The Mohegan Tribal Gaming Authority and the Incheon International Airport Corporation announced Monday they have signed a memorandum of...

  • Tracking Asia's casino gaming industry   Sunday, 19 Apr 2015 | 9:38 PM ET
    Expectations for new casino projects in Asia

    Michael Paladino, Real Estate & Leisure Team Head at Fitch Ratings, discusses the outlook for Macau's gaming sector and how new casinos in Southeast Asia are benefiting.

  • The payments range from more than $1 million to Springfield to $50,000 apiece to nearby Ludlow, Wilbraham, East Longmeadow and Holyoke. West Springfield, for example, is spending $665,000 from MGM Resorts International toward the reconstruction of Memorial Avenue, which will be a main access point to MGM's planned $800 million casino in nearby Springfield.

  • ATLANTIC CITY, N.J.— Eight years ago, Atlantic City's Tropicana casino was hanging by a thread. But now, the Tropicana has rebounded to become one of Atlantic City's more profitable casinos. "When you think back to that period of time, this place was a diamond in the rough," said Tropicana President Tony Rodio, who ran a different Atlantic City casino at the time.

  • LAS VEGAS— Elaine Wynn said Thursday she has her ex-husband Steve Wynn's endorsement in her battle to remain on the board of the casino-hotel company they co-founded. Elaine Wynn cited statements the Wynn Resorts Ltd. CEO made on Charlie Rose's interview show this week that he didn't agree with the board's decision not to re-nominate her.

  • Penn National updates plans for Plainville slot parlor Thursday, 16 Apr 2015 | 1:31 PM ET

    BOSTON— Massachusetts is inching closer to the official launch of its casino industry, as Penn National Gaming submitted revised plans Thursday for a slot parlor slated to open in June along the Rhode Island border while regulators highlighted steps the state still needs to complete before it can oversee gambling operations. Plans for Plainridge Park still...

  • ATLANTIC CITY, N.J.— Morris Bailey knows his customers, and as the owner of Atlantic City's oldest casino, he realizes some longtime patrons feel somewhat uneasy with Internet gambling. More importantly, it lets them easily fund betting accounts, a difficulty that has held back the growth of Internet gambling in New Jersey during its first year and a half.

  • Analyst: Demographic, industry problems weigh on casinos Thursday, 16 Apr 2015 | 12:14 PM ET

    Economic growth will slow as the population of older Americans outpaces younger consumers who are "less enthused" about gambling, turning instead to electronic games or watching online entertainment, Keith Foley, an analyst at Moody's Investors Service, wrote in an investors note. In contrast, Wynn Las Vegas receives more than 60 percent of gross revenue from...