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Casinos and Gaming

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  • Sept 30- An affiliate of Brookfield Asset Management has topped Florida real estate developer Glenn Straub's $90 million bid for the bankrupt Revel Casino Hotel in Atlantic City, the Wall Street Journal reported, citing sources.

  • Study: Gambling industry worth $240B, 1.7M jobs Tuesday, 30 Sep 2014 | 1:45 PM ET

    LAS VEGAS— U.S. casinos and the makers of the games found inside had a $240 billion economic impact and employed 1.7 million people in 2013, a study shows. The group's annual G2E Global Gaming Expo is being held this week at the Sands Expo and Convention Center in Las Vegas.

  • Gaming's impact on US economy     Tuesday, 30 Sep 2014 | 1:35 PM ET

    CNBC's Jane Wells reports on the expansion of the gaming industry in the U.S.

  • Brookfield bids for Atlantic City's Revel Casino - WSJ Tuesday, 30 Sep 2014 | 1:24 PM ET

    Sept 30- An affiliate of Brookfield Asset Management has topped Florida real estate developer Glenn Straub's $90 million bid for the bankrupt Revel Casino Hotel in Atlantic City, the Wall Street Journal reported, citing sources.

  • Vegas doubles down on different future     Tuesday, 30 Sep 2014 | 12:51 PM ET

    A new park and arena is being built as casino alternatives in Las Vegas, reports CNBC's Jane Wells.

  • Revel casino auction to resume today Tuesday, 30 Sep 2014 | 8:49 AM ET

    A bankruptcy court auction for Revel, the failed luxury casino-hotel on the Atlantic City Boardwalk, is scheduled to resume.

  • Gaming's big bet on social     Tuesday, 30 Sep 2014 | 8:31 AM ET

    CNBC's Jane Wells provides a sneak peek on how the gaming industry is changing its strategy to attract new customers into the casinos.

  • 2nd bidder named in auction of failed Revel casino Tuesday, 30 Sep 2014 | 1:58 AM ET

    ATLANTIC CITY, N.J.— A Canadian asset management firm that owns casinos in Las Vegas and the Bahamas has been identified as a second bidder in the ongoing bankruptcy auction of the failed Revel Casino Hotel in Atlantic City. That firm is vying with Florida developer Glenn Straub for the right to buy the $2.4 billion Revel for pennies on the dollar.

  • Sept 29- The Florida developer who entered the first bid in an auction for Atlantic City, New Jersey's Revel Casino Hotel, which closed its doors this month, said on Monday he plans to challenge the results if he loses, because the process lacked transparency.

  • Bidder for AC's Revel to contest auction if he loses Monday, 29 Sep 2014 | 6:11 PM ET
    The Revel Casino in Atlantic City on July 30, 2014.

    The Florida developer who entered the first bid in an auction for Atlantic City, New Jersey's Revel Casino Hotel says the process lacked transparency.

  • Icahn weighs $100M bid for Taj Mahal; refutes union Monday, 29 Sep 2014 | 5:40 PM ET

    The billionaire investor may spend as much as $100 million to save the troubled casino, but the offer comes with considerable strings attached.

  • Trump Entertainment: End union pension for casino Monday, 29 Sep 2014 | 1:20 PM ET
    The Trump Taj Mahal in Atlantic City, N.J.

    Trump Entertainment Resorts seeks to end pension contributions for unionized workers to save the Taj Mahal casino.

  • Report: Gambling industry paid out $38B in taxes Monday, 29 Sep 2014 | 12:19 PM ET

    LAS VEGAS— The gambling industry nationwide paid out a jackpot-worthy $38 billion in federal, state and local taxes in 2013, according to a report from the American Gaming Association. The Associated Press obtained a copy of the report's tax revenue figures before its release Tuesday.

  • *Tokyo government downgrades casino project. TOKYO, Sept 29- Plans to open Japan's first casino in Tokyo before the 2020 Olympics are becoming increasingly unlikely, with developers facing skyrocketing building costs and a city government that no longer considers casino development an economic priority.

  • Minimum wage battle split to the industry level Friday, 26 Sep 2014 | 12:47 PM ET

    Fewer than 10,000 workers could get the new minimum raise adopted by the Los Angeles City Council.

  • Wynn, 72, and his company Wynn Resorts Ltd filed suit against Chanos, founder of New York- based hedge fund Kynikos Associates LP, in federal court in San Francisco.

  • Nevada gambling revenue down 4 percent in August Friday, 26 Sep 2014 | 9:47 AM ET

    LAS VEGAS— Nevada gambling revenue fell nearly 4 percent in August, bedeviled by the baccarat table game. Casinos brought in $920 million in August, down from $955 million a year ago, Nevada Gaming Control Board officials said Friday. Of the $35 million drop statewide, $24 million was due to weaker baccarat revenue.

  • HONG KONG, Sept 26- Hong Kong's main share index opened down on Friday following New York's fall, but losses were pared by rebounding casinos, while mainland markets were tepid. The China Enterprises Index of the top Chinese listings in Hong Kong was off 0.4 percent.

  • NY casino panel begins deliberations on sites Thursday, 25 Sep 2014 | 4:36 PM ET

    The state's Gaming Facility Location Board hopes to make its recommendation to the Gaming Commission by late October. Up to four casino licenses are authorized to be split among three areas: the Capital Region, the Finger Lakes/ Southern Tier and the Catskills/Hudson Valley.

  • Newport rejects agreement with casino developers Thursday, 25 Sep 2014 | 7:15 AM ET

    PROVIDENCE, R.I.— The Newport City Council has rejected an agreement with developers of a proposed full-fledged casino at Newport Grand that would have provided an additional $1 million payment to the city. The community agreement would have given preference to Newport residents for hiring and to Newport vendors for purchases of goods and services.