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Casinos and Gaming

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  • Sports betting mutual fund Thursday, 25 Jun 2015 | 2:52 PM ET
    Sports betting mutual fund

    Insight to a bill which makes it legal for out-of-state residents to have access to the states licensed sports books through sports betting investment funds, with Quinton Singleton, CG Technology VP.

  • MGM asks to delay opening Massachusetts casino by a year Thursday, 25 Jun 2015 | 12:19 PM ET

    BOSTON— MGM wants to delay the opening of its planned resort casino in western Massachusetts by a year because of a major highway project taking place nearby. The Las Vegas casino giant Thursday submitted a revised project schedule Thursday to the state Gaming Commission that calls for construction to be completed in August 2018 and the casino to officially...

  • *SEC says freezes assets of Luo Haijian, CEO of 4399 Co Ltd. In a New York court filing, the SEC says 33- year old Luo, who is the chief executive of 4399 Co Ltd, bet Qihoo's stock price would rise in the short term by purchasing $700,000 of "out of the money" call options through a U.S. brokerage account prior to the buyout announcement. "The suspicious timing and size of Luo's...

  • Atlantic City rescue bills approved, sent to Christie Thursday, 25 Jun 2015 | 1:44 AM ET

    TRENTON, N.J.— New Jersey lawmakers passed a package of bills Thursday to help Atlantic City and its struggling casinos and schools, and sent it to Gov. The most important of the five bills approved by the state Senate would let Atlantic City's eight casinos make payments in lieu of taxes for 15 years, allowing the gambling halls to know exactly how much they owe...

  • Bill to permit smaller Atlantic City casinos advances Wednesday, 24 Jun 2015 | 11:31 AM ET

    ATLANTIC CITY, N.J.— New Jersey is moving forward with its plan to allow smaller casinos in Atlantic City. The changes come as Atlantic City lost four of its 12 casinos last year. "High-end casinos with a price tag of $1 billion or $2 billion have gone extinct in Atlantic City, crushing the economy and forcing thousands of workers into unemployment," said Deputy...

  • Massachusetts' first slots parlor is open for business Wednesday, 24 Jun 2015 | 2:03 AM ET

    PLAINVILLE, Mass.— Massachusetts jumped into the casino game Wednesday as the state's first slots parlor opened for business to a large and eager crowd of gamblers. state Gaming Commission Chairman Stephen Crosby declared, calling it a "momentous" day for Massachusetts, which became the 40th state to offer casino gambling. Massachusetts has been lagging way...

  • PHOENIX— A tribe in southern Arizona that wants its new Phoenix- area casino to open by the end of this year has filed a lawsuit naming Gov. Doug Ducey and other top Arizona officials. The Department of Gaming has notified vendors that they could face certification issues if they work at the tribe's proposed West Valley Resort operation.

  • New Bedford voters approve $650M casino proposal Tuesday, 23 Jun 2015 | 2:15 AM ET

    NEW BEDFORD, Mass.— A proposed $650 million Foxwoods-managed resort casino for New Bedford's waterfront cleared a crucial step Tuesday as city residents overwhelmingly approved the proposal in a special election. New Bedford casino supporters, including a political organization backed by KG Urban, had touted the potential for the development to create...

  • Justices in Ohio hear arguments in slots challenge Tuesday, 23 Jun 2015 | 2:06 AM ET

    John Kasich to legalize video lottery terminals at seven Ohio horse tracks and share proceeds with casino operators running the facilities asked the state Supreme Court Tuesday to allow a lawsuit against the move to go forward. The group argues slots aren't a constitutional form of gambling and lottery proceeds in Ohio must go to education.

  • China's correction may be a turning point: Pro Sunday, 21 Jun 2015 | 6:48 PM ET
    China's correction may be a turning point: Pro

    Henry To, partner and chief investment officer at CB Capital Advisors, says valuations underpin his bullish view on China's A-shares in the long run.

  • ATLANTIC CITY, N.J.— With proposals to expand casino gambling to other parts of New Jersey gaining momentum, Atlantic City is faced with an existential choice: fight to the end to try to keep it from happening, or accept it as inevitable and extract the most concessions it can from new, in-state competitors. Two bills that would ask voters whether to amend the state...

  • Massachusetts Gaming Commission Chairman Stephen Crosby said the Ethics Commission won't take further action into whether he acted improperly during the competition for the Boston- area casino license. The revelations came as the gaming commission voted Thursday to issue a provisional "opening certificate" to Plainridge Park Casino, the Plainville, Mass.,...

  • Caesars hit with $6B lawsuit tied to restructuring Wednesday, 17 Jun 2015 | 12:04 PM ET
    Caesars Entertainment Corp.'s Caesars Palace in Las Vegas.

    Caesars Entertainment was sued for $6.3 billion by noteholders, accusing the company of breaking the terms of the notes issued.

  • A poker tourney win is nice. $310K extra is better Wednesday, 17 Jun 2015 | 11:00 AM ET
    World Series of Poker

    Side bets are common among professional card sharks in the pro poker world, but they're not often talked about. Until now.

  • Casino union: Casino union members stage traffic sit-in Wednesday, 17 Jun 2015 | 10:45 AM ET

    ATLANTIC CITY, N.J.— Atlantic City's main casino workers' union took its battle with billionaire investor Carl Icahn to a new level Wednesday, calling him "a malignancy that needs to be cut out," and blocking traffic in front of the casino Icahn is acquiring and where employee health care and pension plans have been eliminated. "We're here to stand up to the biggest...

  • June 16- Casino company Caesars Entertainment Corp was sued for more than $6 billion by a representative for noteholders who are the lone creditors backing its plan to overhaul $18 billion in debt. The lawsuit was brought by UMB Bank, which is the indenture trustee for several issuances of first-lien notes, and not by actual noteholders, which include the...

  • June 16- Tracinda Corp, the holding company founded by Kirk Kerkorian, said the billionaire's will requires the company to dispose of its stake in casino operator MGM Resorts International. Based on MGM Resorts' 563 million shares outstanding as of May 5, the stake was worth $1.75 billion as of Monday. Kerkorian, who founded MGM Resorts and was its largest...

  • June 16- Casino company Caesars Entertainment Corp was sued for more than $6 billion by a representative for noteholders who are the lone creditors backing its controversial plan to overhaul $18 billion in debt. The lawsuit was brought by UMB Bank, which is the indenture trustee for several issuances of first-lien notes, and not by the actual noteholders, which...

  • Philippines: Asia's next gaming hotspot? Sunday, 14 Jun 2015 | 8:40 PM ET
    Philippines: Asia's next gaming hotspot?

    In this special report titled "Global Opportunities Philippines", CNBC's Pauline Chiou looks at whether the Philippines has what it takes to become Asia's next gaming hub.

  • Hard Rock plans NJ casino Wednesday, 3 Jun 2015 | 2:43 PM ET
    Hard Rock plans NJ casino

    Hard Rock and the Meadowlands racetrack are unveiling plans to develop a casino in northern New Jersey. Jim Allen, Hard Rock chairman, explains how the tax revenues from the new casino can help Atlantic City.