Casinos and Gaming


  • 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.

  • Existing gambling sites in New York state Wednesday, 17 Dec 2014 | 4:58 PM ET

    A New York panel decided to recommend only three sites for upstate gambling casinos instead of four amid an increasingly saturated gambling market. Here's a look at the other sites where gamblers already can go in New York. —Empire City Casino at Yonkers Raceway, Yonkers;.

  • MGM Resorts and FedEx are big market movers Wednesday, 17 Dec 2014 | 4:26 PM ET

    NEW YORK— Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market:. MGM Resorts International, down 84 cents to $18.01. FedEx Corp., down $6.48 to $167.78.

  • Dec 17- A U.S. judge has dismissed Steve Wynn's lawsuit accusing prominent short-seller Jim Chanos of slander over an alleged statement that the casino mogul violated a U.S. anti-bribery law. District Judge William Orrick in San Francisco ruled on Tuesday that Chanos was giving an opinion protected under the U.S. Chanos, founder of New York- based hedge fund...

  • Place your bets! Is the Queen abdicating? Wednesday, 17 Dec 2014 | 11:03 AM ET

    The Queen's Christmas speech this year could be one to watch out for, as gamblers place bets on whether she will abdicate her role.

  • 102K signatures for man trying to save home Wednesday, 17 Dec 2014 | 9:55 AM ET

    Charlie Birnbaum's Change.org petition targets the Casino Reinvestment Development Authority's plan to take the house in the shadow of the closed Revel Casino hotel, which overlooks a large swath of vacant land. Superior Court Judge Julio Mendez ruled last month that the state agency can use eminent domain to seize the house. Robert McNamara, an attorney...

  • Recommended and rejected New York casino proposals Wednesday, 17 Dec 2014 | 2:05 AM ET

    ALBANY, N.Y.— New York state has authorized up to four casino licenses to be divided among three regions: the Albany- Saratoga area, the Southern Tier-Finger Lakes region and the Catskills and mid- Hudson River Valley. —Sterling Forest Resort, Orange County. Location: Tuxedo in Orange County, which applicant boasts is 35 miles from the George Washington Bridge.

  • New York panel recommends 3 upstate resort casinos Wednesday, 17 Dec 2014 | 2:00 AM ET

    The Gaming Facility Location Board chose sites in Sullivan, Schenectady and Seneca counties and decided not to recommend a fourth license amid an increasingly saturated gambling market where consumers have more options closer to home. Voters last year authorized up to four casinos in three upstate regions: the Albany- Saratoga area, the Southern...