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Casinos and Gaming

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  • Steve Wynn's stack on chips   Thursday, 30 Apr 2015 | 6:19 AM ET
    Steve Wynn's stack on chips

    CNBC's Eunice Yoon sits down with Steve Wynn of Wynn Resorts, to discuss the state of Macau, growth in Las Vegas, and the public dispute over the removal of his ex-wife from the board.

  • CHICAGO, April 29- A judge on Wednesday allowed the operating unit of Caesars Entertainment Corp to control its bankruptcy for another month, as creditors try to reach common ground with a court-appointed investigator probing the company's pre-bankruptcy dealings. An independent examiner has been tapped to investigate whether the company's equity...

  • US STOCKS-Wall St ends down after Fed statement, GDP data Wednesday, 29 Apr 2015 | 4:32 PM ET

    "We all know the Fed would love to start normalizing rates, but the simple fact is, the data does not warrant that action right now," said Wayne Kaufman, chief market analyst at Phoenix Financial Services in New York. Insurer Humana's shares fell 7.2 percent to $168.05, the second-biggest loser on the S&P 500, after results missed forecasts. Shares of rivals also fell,...

  • ATLANTIC CITY, N.J.— The power is back on at Atlantic City's former Revel casino, but when it will re-open— and whether it will even still be a casino— remains up in the air. New owner Glenn Straub said electricity was restored to the Boardwalk resort at 8 a.m. Tuesday. Atlantic City had been fining Straub $5,000 for each day the systems were inoperative.

  • Tropicana Las Vegas hotel and casino to be sold for $360M Wednesday, 29 Apr 2015 | 8:51 AM ET

    LAS VEGAS— Penn National Gaming spent years shopping for a Vegas Strip property and it has finally found one. The company announced Wednesday that it is buying the 58- year-old Tropicana Las Vegas, paying $360 million to shareholders including private equity firm Onex Corp.. Onex spent the past four years giving the Tropicana a $200 million face-lift after...

  • CONCORD, N.H.— The New Hampshire House once again rejected casino gambling on Wednesday, voting down a proposal that would have legalized two venues that supporters said would have provided badly needed revenue. "Casino gambling will not be an asset to New Hampshire," Democratic Rep. "All New Hampshire can expect are hometown convenience casinos that pull money...

  • Turnaround for Macau gaming sector? Not yet: Pro   Tuesday, 28 Apr 2015 | 11:35 PM ET
    Turnaround for Macau gaming sector? Not yet: Pro

    Jackson Wong, associate director at United Simsen Securities, says Macau's gaming revenue will remain in a downtrend, but investors who are holding on to related stocks should wait it out.

  • Derby tickets feeling no pain from big fight Tuesday, 28 Apr 2015 | 4:52 PM ET
    Churchill Downs

    Sharing the spotlight with other marquee sorting events, including boxing's biggest fight in years, have not hurt Kentucky Derby ticket prices.

  • Wynn reports 1Q loss Tuesday, 28 Apr 2015 | 4:27 PM ET

    LAS VEGAS _ Wynn Resorts Ltd. on Tuesday reported a first-quarter loss of $44.6 million, after reporting a profit in the same period a year earlier. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.34 per share. Eight analysts surveyed by Zacks expected $1.21 billion.

  • Mohegan Sun casinos report boost in 2nd-quarter profit Tuesday, 28 Apr 2015 | 10:02 AM ET

    HARTFORD, Conn.— The parent company of the Mohegan Sun casinos in Connecticut and Pennsylvania reported a strong second quarter Tuesday, as revenue dropped only slightly while profit jumped 56 percent on increased table game popularity and reduced expenses since Mohegan Sun no longer is seeking a Massachusetts casino license after being rebuffed.

  • ATLANTIC CITY, N.J.— On Monday, New Jersey casino regulators told a bankruptcy court it can't transfer the license of Atlantic City's former Revel casino to new owner Glenn Straub. That's because utility company ACR Energy Partners cut off service to the building on April 9— two days after Straub bought it— in the absence of a contract for future service there.

  • ATLANTIC CITY, N.J.— Another day, another difficulty for the new owner of Atlantic City's former Revel casino. New Jersey's Division of Gaming Enforcement says Glenn Straub's Polo North Country Club cannot simply assume Revel's casino license in bankruptcy court. Owners of casinos in New Jersey have to apply for a license from the state Casino Control...

  • JACKSON, Miss.— A Chicago bankruptcy judge has blessed plans to dismantle the former casino at the shuttered Harrah's complex in Mississippi's Tunica County. It's one facet of a massive bankruptcy case involving Caesars Entertainment Corp. and its attempt to restructure or shed almost $20 billion in debt. The board collects $3.65 million yearly from a port...

  • TOPEKA, Kan.— All three investor groups interested in developing a southeast Kansas casino have met the minimum financial and management requirements to move on in the selection process. Under a Kansas law adopted in 2007, four gaming zones were created for casinos, with only one casino allowed in each region. The three proposals for a casino in southeast Kansas...

  • LAS VEGAS— Elaine Wynn failed Friday to win re-election to the board of Wynn Resort Ltd.— the casino-hotel company she co-founded with ex-husband Steve Wynn— a development that ended a feud over the issue. Shareholders who had to decide between re-electing Elaine Wynn or agreeing with a company recommendation to re-elect two other sitting board members...

  • Debate: Bet on Las Vegas Sands?   Thursday, 23 Apr 2015 | 12:30 PM ET
    Debate: Bet on Las Vegas Sands?

    Las Vegas Sands is taking a hit after weak earnings. Dr. J is a bull and would buy the stock on dips.

  • ATLANTIC CITY, N.J.— There are 1,400 jobs available right now in Atlantic City's casinos, but only 350 of them are full-time positions, according to a survey undertaken by a New Jersey casino regulator. Matt Levinson, chairman of the Casino Control Commission, told The Associated Press on Thursday that he called officials at all eight casinos to find out what jobs...

  • Penn National Gaming beats 1Q profit forecasts Thursday, 23 Apr 2015 | 8:51 AM ET

    WYOMISSING, Pa. _ Penn National Gaming Inc. on Thursday reported first-quarter profit of $11 million. For the current quarter ending in June, Penn National Gaming said it expects revenue in the range of $672.7 million. Penn National Gaming shares have risen 20 percent since the beginning of the year.

  • Pinnacle Entertainment tops Street 1Q forecasts Thursday, 23 Apr 2015 | 8:39 AM ET

    LAS VEGAS _ Pinnacle Entertainment Inc. on Thursday reported first-quarter earnings of $27.3 million. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share. Pinnacle Entertainment shares have increased 62 percent since the beginning of the year.

  • Monarch Casino tops Street 1Q forecasts Wednesday, 22 Apr 2015 | 5:09 PM ET

    RENO, Nev. _ Monarch Casino& Resort Inc. on Wednesday reported first-quarter profit of $4 million. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share. Three analysts surveyed by Zacks expected $46 million.