The IRS has proposed reducing the size of the slot machine winning that will trigger a tax form. That could be bad news for both gamblers and casinos.» Read More
LAS VEGAS— A deal involving Pinnacle Entertainment is the latest example of a casino company separating its gambling operations from its real estate to generate cash. Las Vegas- based Pinnacle announced this week it would sell most of its casino-hotels to a real estate investment trust, Pennsylvania- based Gaming and Leisure Properties Inc., in an all-stock...
WYOMISSING, Pa.— Penn National Gaming Inc. on Thursday reported second-quarter profit of $16.9 million. For the current quarter ending in September, Penn National Gaming said it expects revenue in the range of $728.2 million. This story has been corrected to show that Penn National Gaming's per-share profit was 19 cents, which beat Wall Street estimates.
BOSTON— Developers of a planned Foxwoods casino for the New Bedford waterfront abruptly backed out of the competition for Massachusetts' final resort casino license on Wednesday, citing an inability to secure financing for the projected $650 million project. KG Urban Enterprises partner Barry Gosin said in a letter to the Massachusetts Gaming Commission...
Shares of MGM, which operates destination resorts like the Bellagio, MGM Grand and the Mirage, rose as much as 9.9 percent in morning trading. MGM would join a pool of companies looking to spin off their real estate assets into REITs to save taxes. Land and Buildings, which declined to disclose its stake in MGM, said it intends to nominate four candidates to the...
Nguyen Van Tuon seems unconcerned that his business driving Vietnamese gamblers across the border to Cambodian casinos is under threat.
The "Fast Money" traders share their final trades of the day.
The Foreign Corrupt Practices Act is hampering U.S. business expansion abroad, especially in the gambling industry. Now bets are moving to Asia.
It's time for the Lightning Round. Cramer makes the call on viewer favorites.
It’s time for the Lightning Round. Cramer makes the call on viewer favorites.
Penn National Gaming has been trending lower, and now the bears are looking for another push to the downside.
SPRINGFIELD, Mass.-- Springfield, Mass. is moving on to the second phase of its casino selection process. They are MGM Resorts International, Penn National Gaming Inc., and Ameristar Casinos Inc.. Springfield Mayor Domenic Sarno appointed a seven-member advisory committee Thursday to help review applications.
SPRINGFIELD, Mass.-- Ameristar Casinos Inc. has unveiled plans for a $900 million- plus casino at a former industrial site in Springfield, Mass.. The Ameristar plan announced Tuesday includes 150,000 square feet of gambling space, a 500- room hotel, multiple restaurants and a spa on a former Westinghouse Electric site it owns near Interstate 291.
NEW YORK-- Stocks that moved substantially or traded heavily Thursday on the New York Stock Exchange and Nasdaq Stock Market:. Nokia Corp., down 14 cents at $2.80. Supervalu Inc., up 10 cents at $2.14.
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.
Penn National Gaming Inc. said on Thursday it was seeking to build an $807 million resort casino and hotel on a parcel that is now home to a newspaper and a bus terminal.
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.
SIOUX CITY, Iowa-- The developer of a Hard Rock-themed casino has gotten support from the nonprofit Missouri River Historical Development board to build a casino and entertainment center near the Missouri River in Sioux City, Iowa. Warner and the board must obtain a license from the Iowa Racing and Gaming Commission.
COLUMBUS, Ohio-- The $400 million Hollywood Casino Columbus opened Monday in Ohio's capital, welcoming hundreds of people who had waited on a chilly morning to be among the first placing bets at the table games and about 3,000 slot machines.
This is a special report from CNBC.com.