CHITTENANGO, N.Y.— The Oneida Indian Nation has announced plans to open a $20 million casino with a "Wizard of Oz" theme in the village where Oz author L. Frank Baum was born. Ray Halbritter, chief executive officer of the Oneida Nation, tells the Syracuse Post-Standard the casino will open in the spring in Chittenango, 14 miles east of Syracuse. The Oneidas announced...» Read More
Macau will see less risk of profit declines in 2015 as mass market revenue could see an uptick, says Grant Govertsen, Principal, Analyst, Union Gaming Group.
Jon Oh, Research Analyst for Gaming and Lodging at CLSA, expects shares of casino operators to underperform for the next 1-2 quarters as Macau goes through a painful transition.
Valuations of gaming plays such as Melco Crown look interesting, but it could be a "valuation trap" amid falling casino revenues in Macau, says Tim Seymour, CIO at Triogem Asset Management.
Beijing reportedly plans to restrict illegal money transfers from China to Macau, as part of its anti-graft drive. Jonathan Galaviz, Partner at Global Market Advisors, says the clean-up will benefit Macau's long term health.
Dec 18- Billionaire investor Carl Icahn offered $20 million in financing on Thursday to keep the Trump Taj Mahal from becoming the fifth casino to close this year in New Jersey's troubled Atlantic City, was once the only major destination for gamblers on the U.S. East Coast. The Taj, owned by bankrupt Trump Entertainment Resorts Inc., is slated to close on Saturday.
Dec 18- Billionaire investor Carl Icahn offered to lend $20 million to help bankrupt casino operator Trump Entertainment Resorts Inc keep its Trump Taj Mahal casino in Atlantic City open.
Carl Icahn will provide up to $20 million to finance the Trump Taj Mahl, he said in a letter to Trump Entertainment Resorts CEO Robert Griffin.
In a letter dated Thursday, Icahn promised Trump Entertainment Resorts that he would provide enough money to keep the casino open throughout bankruptcy proceedings. "Many people would still argue that it would be a better financial decision for me to let the Taj close and wait to see whether a global settlement can be reached," Icahn wrote to Trump Entertainment...
LAS VEGAS— A federal judge said Thursday she'll rule soon on whether the FBI improperly entered suites at a Las Vegas Strip casino without a warrant during a probe of what prosecutors say was illegal gambling involving a Malaysian businessman and his son. They also didn't have the permission of Caesars Palace employees, although a casino technical contractor...
PIERRE, S.D.— Gambling boosters lauded this week's South Dakota Supreme Court decision that Deadwood casinos will no longer have to pay gambling taxes on promotional programs that give patrons free credits to play slot machines, saying Thursday that it'll save operators big money. Deadwood Gaming Association Executive Director Mike Rodman said the...
LAS VEGAS— A contrite Sam Nazarian who revamped the Sahara hotel and casino on the Strip, won a gambling license from Nevada's regulators Thursday but not without limits and a promise that the nightlife magnate would remain under heavy scrutiny. He said Thursday he had sought the medical help of a Las Vegas doctor to determine if he has a substance abuse problem.
Ahead of Chinese President Xi Jinping's visit this weekend, authorities are cracking down on illicit fund flows into Macau from the mainland. CNBC's Emily Tan has more.
LAS VEGAS— A Los Angeles nightlife entrepreneur who revamped Las Vegas' Sahara Hotel and Casino into a hipper, sleeker destination is getting ready to defend his past again so he can obtain a Nevada gambling license after admitting recent cocaine use and explaining his curious business dealings with felons. "What he has run into is history," said Michael Green, a...
Chinese President Xi Jinping arrives in Macau with a clear message: the world's biggest gambling center cannot remain a one-industry town.
A New York panel decided to recommend only three sites for upstate gambling casinos instead of four amid an increasingly saturated gambling market. Here's a look at the other sites where gamblers already can go in New York. —Empire City Casino at Yonkers Raceway, Yonkers;.
NEW YORK— Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market:. MGM Resorts International, down 84 cents to $18.01. FedEx Corp., down $6.48 to $167.78.
Dec 17- A U.S. judge has dismissed Steve Wynn's lawsuit accusing prominent short-seller Jim Chanos of slander over an alleged statement that the casino mogul violated a U.S. anti-bribery law. District Judge William Orrick in San Francisco ruled on Tuesday that Chanos was giving an opinion protected under the U.S. Chanos, founder of New York- based hedge fund...
The Queen's Christmas speech this year could be one to watch out for, as gamblers place bets on whether she will abdicate her role.
Charlie Birnbaum's Change.org petition targets the Casino Reinvestment Development Authority's plan to take the house in the shadow of the closed Revel Casino hotel, which overlooks a large swath of vacant land. Superior Court Judge Julio Mendez ruled last month that the state agency can use eminent domain to seize the house. Robert McNamara, an attorney...
ALBANY, N.Y.— New York state has authorized up to four casino licenses to be divided among three regions: the Albany- Saratoga area, the Southern Tier-Finger Lakes region and the Catskills and mid- Hudson River Valley. —Sterling Forest Resort, Orange County. Location: Tuxedo in Orange County, which applicant boasts is 35 miles from the George Washington Bridge.