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.» Read More
The IRS has its eye on casino and bingo winnings.
Somesh Agarwal, senior analyst at Macquarie Securities Group, attributes his poor outlook for Genting Singapore in the medium term to factors such as bad VIP gambling debts.
The charts suggest much more downside for the worst performing stock in the Nasdaq 100, says technician Richard Ross.
The play on Wynn Resorts, with Harry Curtis, Nomura; and Richard Ross, Evercore ISI; and Brian Sullivan.
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.
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.
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...
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.
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...
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.
ST LOUIS, May 22- A federal grand jury is probing a Los Angeles- area casino following allegations by state authorities the business allowed some players to evade transaction reporting requirements and possibly launder money, a source said. The grand jury is probing the operations of the Gardena- based Normandie Casino, the source said. Lauren Miller, general...
The downturn in Macau has been far sharper than anticipated, says billionaire gaming mogul James Packer, but he insists the party is not over yet.
Jonathan Galaviz, partner at Global Market Advisors, says the opening of a Nobu Hotel in the City of Dreams Manila is a great idea, but in the long run, the brand management of Nobu will be key.
Lawrence Ho, CEO and chairman of Melco International and James Packer, chairman of Crown Resorts, outline their expectations for when the City of Dreams Manila could become profitable.
May 18- TPG Capital LP may have helped its own campaign to go public after pulling Par Pharmaceutical Holdings Inc's IPO. TPG was preparing to begin an IPO investor roadshow for Par Pharmaceutical Holdings before it agreed to sell the generics drugmaker to Endo International Plc for around $8 billion. Founded in 1992 by David Bonderman and James Coulter, San...
CNBC's Jane Wells reports on how casinos replace carpets.
Why is casino carpet so busy, and what happens to the old carpet when it's replaced? The Pechanga Resort & Casino in California explains that it turns old carpet into new carpet padding.
CNBC looks at those busy casino carpets and the surprising thing that is under them.