South Korea looks like the consolation prize as Japan's $15 billion casino dream fades.» Read More
Atlantic City has fallen on tough times as gaming revenues have plunged and several casinos could be closing by end of summer, reports CNBC's Morgan Brennan.
CNBC's Morgan Brennan reports on Atlantic City's 5-year revitalization plan as gaming revenues drop 45% since 2006.
*Chongqing Iron& Steel falls after it clarifies Posco partnership. HONG KONG, July 7- Hong Kong shares fell on Monday with Macau casinos under selling pressure after last week's strong rebound, while China markets were also weaker as investors await major economic data later this week.
Gambling revenue in Macau fell 3.7 percent, the first drop in over four years, with analysts saying the World Cup had diverted gamblers away.
July 1- Twitter Inc named Anthony Noto as CFO, putting the well-regarded former Goldman Sachs executive who led its successful November IPO in charge of finances. Twitter shares rose as much as 4.8 percent after the messaging service announced its latest upper-management shake-up.
Christopher Jones, MD & Senior Gaming & Lodging Analyst, Telsey Advisory Group, says Macau's gaming sector will face downside pressure in the near term but the "noise" will start to clear by 2015.
*Alibaba the king of online retail on personal computers in China. *Alibaba headed for big IPO in New York this year. BEIJING, July 1- Chinese e-commerce giant Alibaba Group Holding Ltd may have dominated online retail on personal computers, but is some way from replicating that leadership in shopping by smartphone and other mobile devices.
June 27- Debt-strapped casino operator Caesars Entertainment Corp said it will shut its Showboat Atlantic City casino in August due to falling revenue and high property tax in Atlantic City. Revenue from Atlantic City has declined by more than $3 billion since 2006 while competition has grown, Chief Executive Gary Loveman said in a statement.
June 27- Casino operator Caesars Entertainment Corp said it will shut its Showboat Atlantic City casino in August due to falling revenue and high property tax in Atlantic City.
Lui Che Woo, Founder and Chairman of Galaxy Entertainment Group, tells CNBC why he's optimistic that his gaming business will reap better profits this year despite a slowdown in China.
Lui Che Woo, founder and chairman of Galaxy Entertainment, runs six casinos in Macau but he told CNBC that gambling isn’t really his cup of tea.
NEW YORK, June 26- Wickr, a startup founded by privacy advocates, said it has raised $30 million from investors including CME Group Inc to help develop self-destructing messaging technology for use by financial services firms and gaming companies.
Gary Loveman said he believed Caesars' finances- its debt carries a speculative grade rating- would not put it at a disadvantage as it seeks a licence in Japan, where a bill to legalise casinos could be put to a vote in parliament this year.
ST. LOUIS, June 25- U.S. authorities are ramping up their investigation into money flows from gambling hotspot Macau to ensure that U.S. casinos with operations there are not used as conduits to funnel crime proceeds from Asia and elsewhere into the U.S. financial system.
Intercontinental Hotels' board rejected a merger offer in May, Sky News reports.
Why should kids have all the fun? Adults can now spend a week training to be an astronaut, pro poker player, rocker or zombie slayer.
CAMDEN, N.J., June 20- Atlantic City's bankrupt Revel Casino Hotel has received court approval to borrow $23.9 million that it said would keep the 1,400- room resort operating for the coming month as it scrambles to find a buyer.
Philips Electronics said on Friday it had won a patent infringement cases against Nintendo in the United Kingdom.
AMSTERDAM, June 20- Philips Electronics NV said on Friday it had won a patent infringement cases against Nintendo in the United Kingdom, the first of four lawsuits filed against the Japanese gaming company. Philips spokesman Bjorn Teuwsen said the patent related to motion and gesture tracking systems used in the Wii game console.
HONG KONG, June 20- Hong Kong shares snapped a four-day losing steak, as the beaten-down Macau gambling sector rebounded, but still suffered a loss for the week. The China Enterprises Index of the leading offshore Chinese listings in Hong Kong gained 0.4 percent, but had its 5- week winning streak ended with a 1.2 percent drop for the week.