With lawmakers planning to open Japan to casino gambling, several small cities are pushing to get one of the coveted licenses.» Read More
NEW YORK-- Shares of MGM Resorts International climbed Thursday after the company said its Chinese arm signed a deal for land to build a massive new casino in the world's biggest gambling market. MGM China, which signed the deal, is a joint venture between Las Vegas- based MGM Resorts International and Pansy Ho, daughter of Macau casino kingpin Stanley Ho.
HONG KONG-- The Chinese arm of U.S. casino company MGM Resorts International signed a land deal Thursday for a new $2.5 billion casino resort in Macau, the world's biggest gambling market, hoping to catch up with the rapid expansion of rival casino operators.
MGM China Holdings Ltd. said it formally accepted a land concession contract from the Macau government for a 7.2 hectare plot in the Cotai district, an area of reclaimed land that's earmarked for all new casinos in the Asian gambling haven. MGM China said it is paying $161.4 million for the land, including a $56.2 million down payment.
HONG KONG-- The Chinese arm of U.S. casino company MGM Resorts International says it has signed a long-awaited land deal to build a new casino resort in Macau, the world's biggest gambling market. MGM said it is paying $161.4 million for the land, including a down payment of $56.2 million.
FEELING LUCKY: The Chinese arm of MGM Resorts International signed a deal for a new $2.5 billion casino resort in Macau, the world's biggest gambling market. IN THE CHIPS: The company plans to build a casino resort that will include a five-star 1,600- room hotel, 500 gambling tables and 2,500 slot machines, MGM China said in a statement.
BOSTON-- Three companies seeking to develop a resort casino in Springfield submitted applications Thursday to the western Massachusetts city, and a fourth that had previously expressed interest declined to enter the competition.
Oct 11- Fitch Ratings has affirmed CityCenter Holdings, LLC's Issuer Default Rating at' B-', the secured credit facility and the first lien senior secured notes at' BB-/RR1', and the second lien secured notes at' B-/RR4'. The Rating Outlook is Stable.
Oct 11- Fitch Ratings has affirmed MGM Resorts International's. Fitch also affirms all of MGM's and MGM Grand Paradise's transaction ratings, which are listed at the end of the release. The above considerations should improve MGM's credit profile in terms of liquidity, FCF and leverage to be more consistent with a' B' IDR over the next several quarters.
This is a special report from CNBC.com.
HONG KONG, Oct 4- Gambling revenue in Macau rose a weaker-than-expected 12.3 percent in September, indicating China's slowing economy is increasingly hurting the appetite of wealthy mainland gamblers to place bets in the world's largest casino market.
HONG KONG, Oct 4- Gambling revenue in Macau, the world's largest casino market, rose 12.3 percent in September year-on-year, government data showed on Thursday. Analysts had forecast September growth in the tiny enclave on China's southern coast, to be up 15-17 percent ahead of a national holiday week starting in October.
Our biggest challenge is converting the 25 to 35 year old to becoming participants in our industry, "said Brian Gamache, chief executive of slot machine maker WMS Industries Inc at the annual Global Gaming Expo in Las Vegas.
But the chief executives of Las Vegas- based MGM Resorts International and Las Vegas Sands Corp. differed during a keynote panel discussion with four other industry leaders at the Global Gaming Expo about whether states or the federal government are best able to provide oversight.
ANNAPOLIS, Md.-- The Washington Redskins on Tuesday urged their fans to support a ballot question in Maryland to expand gambling, a high-profile endorsement for efforts to allow a casino in the Maryland county where the team plays its home games near the nation's capital.
Chad Mollman, Equity Analyst, Morningstar notes the decline among VIP gamblers in Asia's casinos, due to the tough economic environment. He says the mass market middle-class sector is driving growth in casinos.
As temperatures rise across the country, many consumers look for a cold cocktail or a frozen treat to cool off and relax. Now an California based company is giving them the chance to have both at the same time.
My head's spinning. Can't focus on one topic. Too much craziness. Here are three examples.
Cramer makes the call on viewers' favorite stocks.
Jim Murren, chairman and CEO of MGM Resorts, tells Gary Kaminsky where value is in the gaming business. Here's a hint: it's not just Macau.
Option bulls are betting on the house with MGM Resorts.