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Casinos and Gaming

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  • Revel Casino says closure will help it find buyer Monday, 18 Aug 2014 | 5:51 PM ET

    Atlantic City's Revel Casino Hotel is still seeking bidders in bankruptcy court.

  • Aug 18- Atlantic City's Revel Casino Hotel is still seeking bidders in bankruptcy court, but its ability to find a buyer will improve once it closes and stops "bleeding money," its attorney said at a hearing on Monday. The hotel is scheduled to close after guests leave on Sept. 1, with gambling operations to cease at 5 p.m. the next day.

  • Is gambling as sick as appears?     Monday, 18 Aug 2014 | 3:35 PM ET

    Frank Fantini, Fantini Research, and Chris Jones, Telsey Advisory Group, discuss the current state of the gaming and casino industry.

  • Lawyer: Revel still seeks sale, losing $1M weekly Monday, 18 Aug 2014 | 1:40 PM ET

    CAMDEN, N.J.— The troubled Revel Casino Hotel in Atlantic City still hopes to auction off its property but needs to close to stop big losses, a lawyer for it said. Attorney John Cunningham said in bankruptcy court Monday that the casino is losing more than $1 million every week, The Press of Atlantic City reported.

  • Both sides of casino debate ready campaign moves Monday, 18 Aug 2014 | 12:41 PM ET

    The recently-formed political group is funded by gambling giants MGM Resorts International, Mohegan Sun and Penn National Gaming. Campaign spokesman Stephen Eisele said two dozen volunteers canvassed in the communities of Winthrop, Bourne, Lexington, East Longmeadow and Ludlow.

  • The new worry that's plaguing Atlantic City Monday, 18 Aug 2014 | 8:56 AM ET
    Atlantic City, New Jersey.

    Before summer ends, four casinos will be shuttered, leaving Atlantic City looking for a way to avoid having dark, empty shells on its Boardwalk.

  • Sands China CEO: Anti-graft drive doesn't worry us Monday, 18 Aug 2014 | 12:35 AM ET
    Edward Tracy, chief executive officer of Sands China

    Following blow-out first-half earnings, Sands China's CEO brushed off concerns about any negative impacts from the government's anti-graft campaign.

  • Sands China: We are mass-market centric     Sunday, 17 Aug 2014 | 9:38 PM ET

    Edward Tracy, CEO of Sands China, explains why China's anti-graft drive won't impact the firm and discusses why he thinks fears about the impact of new regulatory curbs are overblown.

  • Revel wanted to close Atlantic City casino Monday Sunday, 17 Aug 2014 | 9:13 PM ET

    ATLANTIC CITY, N.J.— If the owners of Revel Casino Hotel had their way, the $2.4 billion resort would have been shut down on Monday. Revel Entertainment had asked New Jersey casino regulators for permission to close down on Aug. 18.

  • Atlantic City fears closing casinos may be eyesore Sunday, 17 Aug 2014 | 9:47 AM ET

    ATLANTIC CITY, N.J.— Before summer ends, Revel, Trump Plaza, the Showboat and the Atlantic Club will be shuttered ex-casinos, leaving Atlantic City officials looking for a way to avoid having dark, empty shells on its signature Boardwalk.

  • Aug 16- When the $2.4 billion Revel Casino opened its doors in 2012, the curvy blue-glass tower was hailed as the wave of the future for Atlantic City, New Jersey.

  • Revel casino to close 8 days earlier than planned Friday, 15 Aug 2014 | 7:15 PM ET

    ATLANTIC CITY, N.J.— The $2.4 billion Revel Casino Hotel that opened just over two years ago as a hoped-for savior for Atlantic City's flagging casino industry will close a week earlier than originally planned, the company announced in an email Friday.

  • NEW YORK, Aug 15- Large global banks are facing increased pressure from U.S. regulators to clamp down on casino money-laundering as the government pushes the industry to police not only its own transactions but customers' as well.

  • Macau casinos to face headwinds until 2015: Pro     Thursday, 14 Aug 2014 | 10:35 PM ET

    Grant Govertsen, Principal Analyst at Union Gaming Group, expects Macau's gaming sector to remain soft until early next year amid a weaker-than-expected VIP market.

  • SAN FRANCISCO, Aug 14- A group of ex-gaming industry executives say they can use their design chops to solve a major health challenge: Sick patients neglecting to take their medication and costing employers and insurance providers billions of dollars.

  • Mass market to keep Macau casinos alive: CLSA     Thursday, 14 Aug 2014 | 6:33 PM ET

    Jon Oh, Research Analyst for the Gaming and Lodging sectors at CLSA, says Chinese mass market gamers can spur growth in Macau's gaming sector moving ahead.

  • New Jersey to hold summit to rescue Atlantic City Thursday, 14 Aug 2014 | 9:32 AM ET
    The Trump Taj Mahal, left, the Showboat Atlantic City Hotel and Casino, center, and Revel Atlantic City stand in Atlantic City, New Jersey.

    Christie and New Jersey Democrats have said Atlantic City's economy, heavily dependent on casinos, needs to be broadened.

  • Christie vows to help casino workers find new jobs Thursday, 14 Aug 2014 | 6:02 AM ET

    Chris Christie vowed Thursday to do everything he can to help laid-off Atlantic City casino workers find new jobs after the hotels they work for close next month. Atlantic City started the year with 12 casinos but will have just eight remaining by fall.

  • New Jersey to hold summit to rescue Atlantic City Wednesday, 13 Aug 2014 | 6:39 PM ET

    Aug 13- New Jersey Governor Chris Christie said on Wednesday he would convene a bipartisan summit in September to seek ways to rescue Atlantic City from a slump in its mainstay casino business. Atlantic City has struggled with casino closures as neighboring states have lured gamblers away.

  • Casinos struggle, some advocate sports gambling Wednesday, 13 Aug 2014 | 3:36 PM ET

    Most states don't allow gambling on sporting events, but some argue it's time to change that to bring in revenue and regulation.