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Casinos and Gaming

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  • TRENTON, N.J.— New Jersey lawmakers have introduced a bill that would let voters decide whether to allow three new casinos in the northern part of the state just outside New York City. The bill introduced Monday would schedule a referendum in which voters would be asked to approve up to three casinos in Bergen, Essex or Hudson counties. The bill comes as Hard Rock...

  • Nevada casinos win more in April, $897.9 million total Friday, 29 May 2015 | 12:49 PM ET

    LAS VEGAS— Those flashy, blinky, button-filled boxes that fill casino floors are largely why Nevada can happily count its winnings from April. Nevada's Gaming Control Board reported the latest numbers Friday that showed the state's casinos won $897.9 million overall from slots, table games and baccarat. "It didn't hurt us this month," said Gaming Control Board...

  • All bets off for this gaming stock: Analyst Friday, 29 May 2015 | 8:00 AM ET
    Trader on the floor of the New York Stock Exchange.

    The charts suggest much more downside for the worst performing stock in the Nasdaq 100, says technician Richard Ross.

  • MGM's Clark Dumont confirmed that preliminary votes showed all of the casino-hotel company's 11 incumbent directors were re-elected. Land and Buildings withdrew its election fight May 20, saying it was encouraged by steps MGM was taking. Dumont says MGM CEO Jim Murren told shareholders at the meeting that the company has been looking at the real estate...

  • Trading Nation: Wynn on losing streak   Thursday, 28 May 2015 | 2:36 PM ET
    Trading Nation: Wynn on losing streak

    The play on Wynn Resorts, with Harry Curtis, Nomura; and Richard Ross, Evercore ISI; and Brian Sullivan.

  • SPRINGFIELD, Ill.— An effort to generate much-needed revenue for Chicago and Illinois by opening a city-owned casino and expanding gambling elsewhere could be pushed into summer as lawmakers negotiate a deal that could include "satellite" casinos in central and southern Illinois. Supporters say they believe conditions are right for a deal this year, with...

  • US gambling market saturated, yet casinos keep on coming Thursday, 28 May 2015 | 10:52 AM ET

    That's the consensus of participants at a major casino conference in Atlantic City. Asked if casino closings outside New Jersey are likely, she said nothing appears imminent, but "of course it's going to happen" if expansion continues at its current pace. "Pennsylvania doesn't care what happens to New Jersey, and New York doesn't care what happens to Pennsylvania,"...

  • Huge changes, challenges about to hit NJ casino market Thursday, 28 May 2015 | 9:41 AM ET

    The issue of whether legalized gambling should be expanded beyond Atlantic City is now front and center due to a proposal for a casino at the Meadowlands Racetrack, and Gov. The proposal from Hard Rock and the Meadowlands comes as Atlantic City lost four of its 12 casinos last year. Speaking Thursday at the East Coast Gaming Congress, track owner Jeff Gural said...

  • Galaxy's new Macau resorts are positive: Pro   Wednesday, 27 May 2015 | 9:22 PM ET
    Galaxy's new Macau resorts are positive: Pro

    John Bruce, director of Operation, Macau at Hill & Associates, discusses his experience at the opening of Galaxy Entertainment Group's two new casino resorts in Macau.

  • Is diversification the answer to Macau's woes?   Wednesday, 27 May 2015 | 6:36 PM ET
    Is diversification the answer to Macau's woes?

    Casinos in Macau have "no choice but to diversify their offerings" so as to attract tourists from Greater Asia, says Jonathan Galaviz, partner at Global Market Advisors.

  • Slow start, gradual improvement for US Internet gambling Wednesday, 27 May 2015 | 6:16 PM ET

    ATLANTIC CITY, N.J.— Internet gambling is off to a slow start in the United States, with banks hesitant to handle credit card payments for online bets and some politicians and casino moguls pushing to ban it, but there remains potential for great growth, participants in a major gambling conference agreed Wednesday. Three states currently offer Internet gambling:...

  • CHICAGO, May 27- The operating unit of Caesars Entertainment Corp received court approval on Wednesday to remain in control of its bankruptcy for another six months. Bankruptcy Judge Benjamin Goldgar in Chicago allows the country's largest casino operator to pursue its plan for cutting its $18 billion debt without the threat of a rival plan from creditors.

  • May 27- A nun-turned-developer was ordered to pay nearly $1 million for lavish spending and for hiring an ex-con known as Frankie the Fish while building a Mississippi casino, a court ruled on Wednesday. Sandra Manno, a one-time mayor of Marlton, New Jersey, who had spearheaded a vote to legalize gambling in the state, was ordered by a Delaware judge to pay $970,123...

  • This will give Galaxy Entertainment a boost   Tuesday, 26 May 2015 | 10:36 PM ET
    This will give Galaxy Entertainment a boost

    Angela Han Lee, analyst at China Merchants Securities, says new resort projects will help Galaxy Entertainment to outperform its competitors in Macau's gaming sector.

  • Macau casinos eye resorts to counter slowdown Tuesday, 26 May 2015 | 8:51 PM ET

    As revenue plummets in China's only legal gambling hub, global casino operators have a new mantra: what happens in Vegas, must also happen in Macau.

  • HONG KONG, May 27- As revenue plummets at China's only legal gambling hub, global casino operators have a new mantra- what happens in Vegas, must also happen in Macau. The latter's two new resort projects, worth $3.2 billion, open in Macau later on Wednesday. As well as the mainland's crackdown, Macau's government is forcing casino firms, also including SJM Holdings...

  • New Revel owner: 'No way' casino reopens this summer Tuesday, 26 May 2015 | 11:35 AM ET

    CAMDEN, N.J.— The casino at Atlantic City's former Revel resort won't reopen this summer, the property's new owner said Tuesday, and it's doubtful whether any of the non-gambling attractions can be reopened by Labor Day. He also held out little hope of reopening some of the non-gambling components of Revel, such as restaurants or night clubs or pool clubs by Labor...

  • MACAU— Macau is doubling down even as the odds change. Macau's casino operators are undaunted. They're also optimistic Beijing's support for Macau's long term development from a seedy, vice-ridden backwater into a glitzy Asian destination will draw a growing numbers of middle class families from across the region looking for more than just gambling.

  • Marriott: 'Hotel occupancy still good in Macau'   Monday, 25 May 2015 | 9:16 PM ET
    Marriott: 'Hotel occupancy still good in Macau'

    Simon Cooper, managing director for Asia Pacific at Marriott International, says occupancy rates in Macau are unaffected by the fall in gaming revenues hence the decision to open the 1,000-room JW Marriott.

  • CARSON CITY, Nev.— The Las Vegas Metro Chamber of Commerce, a major business group that has remained neutral on tax bills for most of the legislative session, said Monday that it would offer conditional and temporary support of Republican Gov. Representatives from mining, building, casinos and telecommunications are backing the plan in the name of improving...