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Casinos and Gaming

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  • Macau on losing streak as revenues near 5-year low

    CNBC's Eunice Yoon takes a look at why the chips are down for Macau despite tens of millions of people visiting its casinos.

  • Will easier visa rules save Macau casinos? Tuesday, 30 Jun 2015 | 8:45 PM ET
    Will easier visa rules save Macau casinos?

    Jonathan Galaviz, partner at Global Market Advisors, says the relaxation of visa rules for mainland tourists visiting Macau will only be "helpful around the edges."

  • Time to bet on Macau? Tuesday, 30 Jun 2015 | 5:53 PM ET
    Time to bet on Macau?

    Macau casino stocks Melco Crown, Las Vegas Sands and MGM were higher Tuesday. The "Fast Money" traders take their positions.

  • Borgata's luck in Atlantic City Monday, 29 Jun 2015 | 8:23 AM ET
    Borgata's luck in Atlantic City

    CNBC's Morgan Brennan, and Tom Ballance, Borgata president & COO, talk about the shrinking casino business in Atlantic City and how bad policy is impacting the space. Also Ballance weighs in on how online gambling has created an additional revenue stream for Borgata.

  • ATLANTIC CITY, N.J.— The owners of Atlantic City's former Trump Plaza casino plan to keep it shut for at least 10 years as a tax-saving measure. Trump Entertainment Resorts has filed a deed restriction for the casino, which closed last September, preventing it from being used again as a casino for at least a decade. Trump Entertainment filed the deed Friday with...

  • LAS VEGAS— Huge crowds and high rollers in Las Vegas for the Floyd Mayweather-Manny Pacquiao fight helped Nevada casinos make more than $1 billion off gamblers in May, according to records released Friday. "To hit a billion, we're pretty pleased," said Nevada Gaming Control Board analyst Michael Lawton. The last time casino winnings topped $1 billion was December...

  • Former 'Survivor' star wins big in poker tourney Friday, 26 Jun 2015 | 12:05 PM ET
    Jean-Robert Bellande

    Jean-Robert Bellande took home $784,828 in the Poker Players Championship at the World Series of Poker in the early morning hours Friday.

  • Sports betting mutual fund Thursday, 25 Jun 2015 | 2:52 PM ET
    Sports betting mutual fund

    Insight to a bill which makes it legal for out-of-state residents to have access to the states licensed sports books through sports betting investment funds, with Quinton Singleton, CG Technology VP.

  • MGM asks to delay opening Massachusetts casino by a year Thursday, 25 Jun 2015 | 12:19 PM ET

    BOSTON— MGM wants to delay the opening of its planned resort casino in western Massachusetts by a year because of a major highway project taking place nearby. The Las Vegas casino giant Thursday submitted a revised project schedule Thursday to the state Gaming Commission that calls for construction to be completed in August 2018 and the casino to officially...

  • *SEC says freezes assets of Luo Haijian, CEO of 4399 Co Ltd. In a New York court filing, the SEC says 33- year old Luo, who is the chief executive of 4399 Co Ltd, bet Qihoo's stock price would rise in the short term by purchasing $700,000 of "out of the money" call options through a U.S. brokerage account prior to the buyout announcement. "The suspicious timing and size of Luo's...

  • Atlantic City rescue bills approved, sent to Christie Thursday, 25 Jun 2015 | 1:44 AM ET

    TRENTON, N.J.— New Jersey lawmakers passed a package of bills Thursday to help Atlantic City and its struggling casinos and schools, and sent it to Gov. The most important of the five bills approved by the state Senate would let Atlantic City's eight casinos make payments in lieu of taxes for 15 years, allowing the gambling halls to know exactly how much they owe...

  • Bill to permit smaller Atlantic City casinos advances Wednesday, 24 Jun 2015 | 11:31 AM ET

    ATLANTIC CITY, N.J.— New Jersey is moving forward with its plan to allow smaller casinos in Atlantic City. The changes come as Atlantic City lost four of its 12 casinos last year. "High-end casinos with a price tag of $1 billion or $2 billion have gone extinct in Atlantic City, crushing the economy and forcing thousands of workers into unemployment," said Deputy...

  • Massachusetts' first slots parlor is open for business Wednesday, 24 Jun 2015 | 2:03 AM ET

    PLAINVILLE, Mass.— Massachusetts jumped into the casino game Wednesday as the state's first slots parlor opened for business to a large and eager crowd of gamblers. state Gaming Commission Chairman Stephen Crosby declared, calling it a "momentous" day for Massachusetts, which became the 40th state to offer casino gambling. Massachusetts has been lagging way...

  • PHOENIX— A tribe in southern Arizona that wants its new Phoenix- area casino to open by the end of this year has filed a lawsuit naming Gov. Doug Ducey and other top Arizona officials. The Department of Gaming has notified vendors that they could face certification issues if they work at the tribe's proposed West Valley Resort operation.

  • New Bedford voters approve $650M casino proposal Tuesday, 23 Jun 2015 | 2:15 AM ET

    NEW BEDFORD, Mass.— A proposed $650 million Foxwoods-managed resort casino for New Bedford's waterfront cleared a crucial step Tuesday as city residents overwhelmingly approved the proposal in a special election. New Bedford casino supporters, including a political organization backed by KG Urban, had touted the potential for the development to create...

  • Justices in Ohio hear arguments in slots challenge Tuesday, 23 Jun 2015 | 2:06 AM ET

    John Kasich to legalize video lottery terminals at seven Ohio horse tracks and share proceeds with casino operators running the facilities asked the state Supreme Court Tuesday to allow a lawsuit against the move to go forward. The group argues slots aren't a constitutional form of gambling and lottery proceeds in Ohio must go to education.

  • China's correction may be a turning point: Pro Sunday, 21 Jun 2015 | 6:48 PM ET
    China's correction may be a turning point: Pro

    Henry To, partner and chief investment officer at CB Capital Advisors, says valuations underpin his bullish view on China's A-shares in the long run.

  • ATLANTIC CITY, N.J.— With proposals to expand casino gambling to other parts of New Jersey gaining momentum, Atlantic City is faced with an existential choice: fight to the end to try to keep it from happening, or accept it as inevitable and extract the most concessions it can from new, in-state competitors. Two bills that would ask voters whether to amend the state...

  • Massachusetts Gaming Commission Chairman Stephen Crosby said the Ethics Commission won't take further action into whether he acted improperly during the competition for the Boston- area casino license. The revelations came as the gaming commission voted Thursday to issue a provisional "opening certificate" to Plainridge Park Casino, the Plainville, Mass.,...

  • A poker tourney win is nice. $310K extra is better Wednesday, 17 Jun 2015 | 11:00 AM ET
    World Series of Poker

    Side bets are common among professional card sharks in the pro poker world, but they're not often talked about. Until now.