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Casinos and Gaming

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  • *HSBC to announce earnings on Monday, Cheung Kong later the week. HONG KONG, Feb 23- Hong Kong shares dipped on Monday, with oil firms and casino operators leading the slide, as investors awaited direction from major corporate earnings later the week, marking a weak start to the Year of Goat. Property group Cheung Kong and conglomerate Hutchison Whampoa are set to...

  • How casino operators can achieve sustainability  Sunday, 22 Feb 2015 | 9:30 PM ET

    Jon Oh, Research Analyst at CLSA, outlines the need for casino operators to focus on China's middle class. He later discusses his expectations for Genting Singapore's earnings.

  • LAS VEGAS— Within six months, the Riviera hotel and casino on the Las Vegas Strip will be history now that the Las Vegas Convention and Visitors Authority has approved a deal to buy it and demolish it. The agency's board members voted unanimously Friday with one member absent to spend up to $191 million to buy the 26- acre property on the north end of the Strip to make...

  • Beijing's glare deepens crisis in Macau Wednesday, 18 Feb 2015 | 4:00 PM ET

    *VIPs avoid Macau during Beijing corruption crackdown. *60-70 percent of Macau casino revenues from high rollers. MACAU/ ZHUHAI, China, Feb 19- China's crackdown on corruption and conspicuous consumption is ever more visible in its impact on Macau, the world's biggest gambling hub, which makes most of its money from the high rollers who are staying away to avoid...

  • ATLANTIC CITY, N.J.— New Jersey's oldest casino is about to get in on the newest form of gambling. And PokerStars still has not been approved to operate in New Jersey, following legal trouble some of its executives encountered. Internet gambling began in New Jersey on Nov. 25, 2013, but is off to a slow start, having taken in $122 million last year.

  • Bet on casino stocks: Pro  Tuesday, 17 Feb 2015 | 2:15 PM ET

    Joseph Greff, JPMorgan, looks at MGM and whether casino stocks are worth betting on.

  • LONDON, Feb 16- Twenty-something consumers raised on video games such as Grand Theft Auto and Angry Birds are being wooed by financial trading apps, keen to build bridges with a post-crisis generation that is disinterested in financial services or plain mistrustful. While financial trading is a niche slice of the $15 billion mobile gaming industry, dominated...

  • Feb 12- The fickleness of the gaming industry was on full display in the earnings reports of "FarmVille" creator Zynga Inc and "Candy Crush" maker King Digital Entertainment Plc. Zynga's shares fell 10 percent while King Digital's soared 18 percent in extended trading on Thursday after the companies reported contrasting fortunes in a key industry metric.

  • Feb 11- The parent of Trump Taj Mahal, one of Atlantic City, New Jersey's struggling casinos, has settled U.S. government charges that it violated federal laws designed to thwart money laundering, court filings show. Trump Taj Mahal Associates LLC agreed to the assessment of a $10 million civil penalty by the Treasury Department's Financial Crimes Enforcement...

  • WILMINGTON, Del., Feb 10- The Revel Casino Hotel in Atlantic City, New Jersey, asked a U.S. bankruptcy judge to end its agreement to sell the gambling complex to Florida developer Glenn Straub for $95.4 million, according to a Tuesday court filing. The hotel's legal team also asked Judge Gloria Burns in Camden, New Jersey, for permission to keep Straub's $10 million...

  • Kaboom! Shuttered Las Vegas casino implodes  Tuesday, 10 Feb 2015 | 4:15 AM ET

    The Clarion Hotel and Casino just off of the Las Vegas strip collapses in a controlled demolition early this morning. The 202-room hotel opened in 1970, and has been known as the Debbie Reynolds, Greek Isles, Paddlewheel, Royal Americana and Royal Inn, and closed its doors to the public last year.

  • CAMDEN, N.J., Feb 9- A lawyer representing the buyer of the bankrupt Revel Casino in Atlantic City said his client would miss a midnight Monday deadline to complete the purchase, amid concerns over precisely what his client is buying. Florida developer Glen Straub wanted to buy the casino without any obligation to existing leases held by the bars, clubs and...

  • Feb 8- A federal judge in New Jersey on Sunday called a temporary halt to the pending sale of bankrupt Revel Casino in Atlantic City and scheduled a hearing on Monday on a motion to block some of the terms of the $94.5 million deal. U.S. District Court Judge Jerome B. Simandle ordered an emergency hearing for 3 p.m. in the proposed sale of the property to Florida...

  • In Macau, casino titans join China reform wagon Sunday, 8 Feb 2015 | 6:18 PM ET

    Xi Jinping warned Macau that it needs to be about more than baccarat. Now, the reform drive has new champions - the casino operators.

  • In Macau, casino titans join China reform wagon Sunday, 8 Feb 2015 | 4:00 PM ET

    HONG KONG, Feb 9- Leading China's anti-corruption campaign, President Xi Jinping warned Macau last December that the world's biggest gambling hub needs to be about more than baccarat. "When you hear the central government and the Macau government urged operators to diversify the attractions of their facilities... they are preaching to the choir.

  • BEIJING, Feb 6- China will fight attempts by foreign casinos to lure its citizens abroad, a senior police official said on Friday, which could deal a blow to the gaming firms in Macau and Asian countries that rely on these punters for most of their revenue. Chinese, among the world's most prolific gamblers, often travel to the Chinese territory of Macau, South Korea,...

  • Time to go all in on Macau gaming stocks? Thursday, 5 Feb 2015 | 5:46 PM ET
    A croupier deals a card on a blackjack table inside the Venetian Macao resort and casino, operated by Sands China, in Macau, China.

    With the prospect of a recovery increasing, some analysts say now's the time to scoop up battered Macau casino plays.

  • Macau drags Wynn Resorts 4Q earnings down Wednesday, 4 Feb 2015 | 10:56 AM ET
    Wynn Macau casino resort, operated by Wynn Resorts, in Macau, China.

    A crackdown in corruption in China that has hushed the once frenzied Macau casino business took its toll on Wynn Resorts in the fourth quarter.

  • SYDNEY, Feb 4- Record bets by Asian high rollers helped Echo Entertainment Group Ltd lift first-half net profit to a three-year high, but the Australian casino firm said the surge was tempered by the amount it paid to the junkets behind these VIP gamblers. Echo on Wednesday said turnover from VIP gamblers at its Australia casinos nearly doubled to an all-time...

  • Echo Entertainment: H1 profits are 'gratifying'  Tuesday, 3 Feb 2015 | 8:45 PM ET

    Matt Bekier, CEO of Echo Entertainment, says a robust international VIP business is the standout performer in the first-half and explains why the Australian casino firm is insulated from weak domestic consumer sentiment.