A bankruptcy court auction for Revel, the failed luxury casino-hotel on the Atlantic City Boardwalk, is scheduled to resume.» Read More
The Florida developer who entered the first bid in an auction for Atlantic City, New Jersey's Revel Casino Hotel says the process lacked transparency.
The billionaire investor may spend as much as $100 million to save the troubled casino, but the offer comes with considerable strings attached.
Trump Entertainment Resorts seeks to end pension contributions for unionized workers to save the Taj Mahal casino.
LAS VEGAS— The gambling industry nationwide paid out a jackpot-worthy $38 billion in federal, state and local taxes in 2013, according to a report from the American Gaming Association. The Associated Press obtained a copy of the report's tax revenue figures before its release Tuesday.
*Tokyo government downgrades casino project. TOKYO, Sept 29- Plans to open Japan's first casino in Tokyo before the 2020 Olympics are becoming increasingly unlikely, with developers facing skyrocketing building costs and a city government that no longer considers casino development an economic priority.
Fewer than 10,000 workers could get the new minimum raise adopted by the Los Angeles City Council.
Wynn, 72, and his company Wynn Resorts Ltd filed suit against Chanos, founder of New York- based hedge fund Kynikos Associates LP, in federal court in San Francisco.
LAS VEGAS— Nevada gambling revenue fell nearly 4 percent in August, bedeviled by the baccarat table game. Casinos brought in $920 million in August, down from $955 million a year ago, Nevada Gaming Control Board officials said Friday. Of the $35 million drop statewide, $24 million was due to weaker baccarat revenue.
HONG KONG, Sept 26- Hong Kong's main share index opened down on Friday following New York's fall, but losses were pared by rebounding casinos, while mainland markets were tepid. The China Enterprises Index of the top Chinese listings in Hong Kong was off 0.4 percent.
The state's Gaming Facility Location Board hopes to make its recommendation to the Gaming Commission by late October. Up to four casino licenses are authorized to be split among three areas: the Capital Region, the Finger Lakes/ Southern Tier and the Catskills/Hudson Valley.
PROVIDENCE, R.I.— The Newport City Council has rejected an agreement with developers of a proposed full-fledged casino at Newport Grand that would have provided an additional $1 million payment to the city. The community agreement would have given preference to Newport residents for hiring and to Newport vendors for purchases of goods and services.
MACAU, Sept 25- Macau's casino junket operators are feeling the squeeze as China's anti-corruption drive has blown a hole in the world's biggest gambling hub.
ATLANTIC CITY, N.J.— Games of mini-baccarat played at the Golden Nugget two years ago with unshuffled cards in which gamblers won $1.5 million did not violate any rules or laws, New Jersey casino regulators ruled.
The lawyer for a Florida developer who has offered $90 million for the former Revel Casino Hotel says multiple offers have been received for it, and an auction will be held Wednesday.
ATLANTIC CITY, N.J.— A bankruptcy court auction for Revel, the failed luxury casino-hotel on the Atlantic City Boardwalk, will resume on Tuesday. The lone bid made public thus far is $90 million from Florida developer Glenn Straub, who envisions a gathering place for "geniuses" tackling a number of problems, with or without a casino.
State officials are authorized to award up to four casino licenses among three regions: the Finger Lakes/ Southern Tier, the Capital Region and the Catskills/Hudson Valley. The Southern Tier/Finger Lakes region attracted proposals from Tioga Downs in Nichols in the Southern Tier, Traditions in Johnson City near Binghamton and Lago in Tyre in Seneca County.
ATLANTIC CITY, N.J.— The lawyer for a Florida developer who has offered $90 million for the former Revel Casino Hotel in Atlantic City says multiple offers have been received for it, and an auction will be held Wednesday.
Trump Entertainment did not immediately respond to a request for comment Tuesday. As of Sept. 9, when Trump Entertainment filed for bankruptcy, the casino company owed Tozour $251,373.
The monumental paintings, each nearly 7 feet high, have never appeared at auction before and could bring a combined total of $130 million when they go up for bid on Nov. 12. The Brando silkscreen, created three years later, shows the Hollywood actor on a motorcycle and black leather jacket, an image that's repeated four times.
Carl Icahn is mulling whether to infuse the Trump Taj Mahal with $100 million, but only with a specific set of caveats, the New York Post reports.