A judge said she will approve a deal that allows bankrupt Revel Casino Hotel to pay far less in property taxes to Atlantic City this year.» Read More
Few people are more eager to see the clock strike midnight on Dec. 31 than Atlantic City casino workers who still have jobs there.
WILMINGTON, Del., Dec 22- The Trump Taj Mahal, a casino hotel in New Jersey's struggling Atlantic City gambling hub, could stay open for all of 2015 with a $20 million financing package from investor Carl Icahn, lawyers for Trump Entertainment Resorts said on Monday. Atlantic City's fortunes have faded as competition from Pennsylvania and other neighboring...
The Oneida Indian Nation plans to open a $20 million casino with a "Wizard of Oz" theme in the village where author L. Frank Baum was born.
Sam Le Cornu, Senior Portfolio Manager at Macquarie Funds Group, explains why he's viewing the rally in China with caution and outlines the opportunities in Macau's gaming shares.
Actor Steve Schirripa, shares his thoughts on Sony's decision to pull the plug on "The Interview." And Schirripa weighs in on how to revitalize Atlantic City. Make it a city instead of a slum with casinos, says Schirripa.
Macau will see less risk of profit declines in 2015 as mass market revenue could see an uptick, says Grant Govertsen, Principal, Analyst, Union Gaming Group.
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.
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.
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.
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.
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.
Chinese President Xi Jinping arrives in Macau with a clear message: the world's biggest gambling center cannot remain a one-industry town.
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...
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.
Dec 11- Caesars Entertainment Corp has reached a tentative deal with senior bondholders over a debt restructuring plan for its largest unit, Caesars Entertainment Operating Co, the Wall Street Journal reported, citing people familiar with the matter. The unit has about $18.4 billion in debt, mostly held by hedge funds that buy up debt of troubled companies,...
Dan Bilzerian, the "King of Instagram," was released from jail on Wednesday after being detained at LAX.
Dan Bilzerian, the "King of Instagram," was arrested at LAX on Tuesday and is being held without bail, according to LA Weekly.
Dec 10- The new proposed buyer for the shuttered Revel Casino Hotel said Wednesday that he will not give up his legal challenge to the auction of the Atlantic City, New Jersey, complex even though the winning bidder walked away from the deal. Revel filed papers overnight seeking approval to terminate its deal with Brookfield Property Partners LP and schedule a...