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Casinos and Gaming

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  • Hong Kong shares slip despite a rebound by casinos Monday, 21 Jul 2014 | 4:07 AM ET

    HONG KONG, July 21- Hong Kong shares sagged on Monday, though the Macau gambling sector regained momentum following losses last week stemming from a corruption probe and disappointing earnings. Galaxy Entertainment Group and Sands China were the standout winners on the Hang Seng, up 3.1 and 2.3 percent respectively.

  • *China railway sector rises on state support. *China airlines fall after another profit warning. HONG KONG, July 21- China shares held a soft tone on Monday, with investors preparing a sizable amount of money for upcoming initial public offerings, while Hong Kong was flat.

  • A history of casino revenue, jobs in Atlantic City Sunday, 20 Jul 2014 | 10:08 AM ET

    Here is a look at how gambling revenue and employment have changed since casinos launched in Atlantic City in 1978:. Dec. 29, 1979: Bally's Atlantic City opens. Aug. 13, 1980: Sands Casino Hotel opens.

  • Atlantic City doomed by glut of casinos in region Sunday, 20 Jul 2014 | 9:57 AM ET

    ATLANTIC CITY, N.J.— The rapid disintegration of Atlantic City's casino market might be an early indicator of what could happen in other parts of the country that have too many casinos and not enough gamblers. James Whelan, a former Atlantic City mayor.

  • Route 91 Harvest country music fest set for Vegas Thursday, 17 Jul 2014 | 9:01 AM ET

    Concert producer Live Nation and casino company MGM Resorts International announced Thursday that they're collaborating on the inaugural, three-day Route 91 Harvest festival, set to take place Oct. 3-5 in an empty lot near the Mandalay Bay resort.

  • Hong Kong shares end flat, Kunlun jumps Thursday, 17 Jul 2014 | 4:12 AM ET

    HONG KONG, July 17- Hong Kong's benchmark index ended flat on Thursday, dampened by a weak Macau gaming sector and a retreat by Internet giant Tencent. Shares of Macau casino Sands China fell 1.2 percent after the company reported weaker-than-expected earnings.

  • Will Macau's slowdown hurt Las Vegas Sands?     Wednesday, 16 Jul 2014 | 6:48 PM ET

    Alex Bumazhny, Director of Gaming, Lodging & Leisure at Fitch Ratings, says the firm's exposure to the mass market will help to offset weakness in Macau's VIP segment.

  • Las Vegas Sands 2Q profit rises 27 percent Wednesday, 16 Jul 2014 | 5:49 PM ET

    LAS VEGAS— Casino giant Las Vegas Sands Corp. said its second-quarter profit rose 27 percent due to continued growth in Macau, but earnings missed analysts' expectations and suffered in June as bettors focused more on their World Cup wagers than on the casino tables.

  • *New company will list on NYSE, delist from Milan. MILAN, July 16- Italy's GTECH will buy U.S. slot machine maker International Game Technology for $4.7 billion, shifting the lottery operator away from its struggling domestic market and making it a major player in the casino business.

  • Workers seek to keep endangered casinos open Wednesday, 16 Jul 2014 | 11:51 AM ET

    ATLANTIC CITY, N.J.— Now that the shock over the prospect of losing three Atlantic City casinos in coming months is starting to wear off, many workers and their union are mounting a growing effort to keep them open by attracting new buyers and offering flexibility in contract negotiations with a buyer.

  • After 16 hours, an exit from stalled casino boat Wednesday, 16 Jul 2014 | 8:42 AM ET

    SAVANNAH, Ga.— After more than 12 hours, passengers stranded on a casino boat that ran aground off Georgia's coast were ferried to shore Wednesday aboard two Coast Guard cutters.

  • Anti-casino group launches Springfield campaign Wednesday, 16 Jul 2014 | 4:02 AM ET

    BOSTON— Anti-casino activists on Wednesday set their sights on Springfield, which would be home to Massachusetts' first licensed casino, as they attempt to win voter support for a November ballot question to repeal the state's casino law. They said Springfield represents a key battleground since it would be home to a proposed $800 million MGM resort.

  • Boston refuses arbitration with Wynn Resorts Tuesday, 15 Jul 2014 | 11:17 AM ET

    BOSTON— State gambling regulators are weighing how to respond to Boston Mayor Marty Walsh's refusal to participate in arbitration with Wynn Resorts for a financial compensation deal. The Las Vegas- based casino giant proposes a $1.6 billion resort in neighboring Everett as it competes with Mohegan Sun for the sole state gambling license for the Boston area.

  • Wagering, revenue continue tumble at Conn. casinos Tuesday, 15 Jul 2014 | 10:51 AM ET

    Mohegan Sun said total slot machine bets in June totaled $574.9 million, down 10 percent from June 2013. Mohegan Sun said the share of wagers known as revenue was $45.3 million, down 10 percent from June 2013. Foxwoods and Mohegan Sun are looking to expand into Massachusetts to drive up revenue.

  • Correction: Connecting Online Poker Sites story Monday, 14 Jul 2014 | 2:00 PM ET

    LAS VEGAS— In a story July 10 about an online poker room network, The Associated Press reported erroneously the owner of the Treasure Island resort casino. Gaming Control Board officials said Wednesday that the network, which would be operated by Gibraltar- based 888 Holdings PLC, could be a model for a system connecting players in Nevada and Delaware.

  • July 14- The Trump Plaza Hotel is expected to close in September, making it the fourth casino to close this year in Atlantic City, the faltering New Jersey resort town. Atlantic City, which once held a lucrative East Coast gambling monopoly, has fallen hard as new casinos open in the northeastern United States.

  • July 14- Layoff notices went out on Monday for roughly 1,000 employees of Atlantic City's Trump Plaza Casino Hotel, in anticipation of a Sept. 16 closure, the company said in a statement. The seashore casino is one of the poorest performers in Atlantic City, which began the year with 12 casinos but with the Trump Plaza closing could be down to eight.

  • Trumped? Another Atlantic City casino may close Monday, 14 Jul 2014 | 9:33 AM ET

    If Trump Plaza closes, Atlantic City could lose a third of its casinos and a quarter of its casino workforce in less than nine months.

  • Investors turning cautious on Wynn Macau     Sunday, 13 Jul 2014 | 11:22 PM ET

    Jackson Wong, Vice President of Tanrich Securities, attributes its hold rating on the stock to the recent land deal probe and the bearish outlook of Macau's gaming sector.

  • July 12- The Trump Plaza Hotel in Atlantic City could shut its doors in September and lay off 1,000 workers, a local newspaper reported, in what could make it the fourth casino to close this year in the faltering New Jersey resort city.