Philip Marcelo, Associated Press · September 15, 2014 at 6:28 pm
BOSTON (AP) - Wynn Resorts appears to have a strong advantage over Mohegan Sun in the fierce competition for the Boston-area casino license, even as the Las Vegas gambling giant pushes back against some requirements state regulators are seeking to impose if it is to win the license.
The Massachusetts Gaming Commission, which resumed deliberations Monday, has rated Wynn's $1.6 billion resort … [Read more...]
Michael Bathon, Bloomberg · September 15, 2014 at 6:27 pm
Sept. 15 (Bloomberg) -- Revel AC Inc., the bankrupt Atlantic City casino operator that closed its resort this month, is attracting new interest from potential buyers, including Los Angeles developer Richard Meruelo.
“This case has basically been a limbo contest, where bidders were hanging out to see how low the Revel will go,” John K. Cunningham, a lawyer for the casino, said at a hearing today … [Read more...]
September 15, 2014 at 5:25 pm
CAMDEN, N.J. (AP) - A bankruptcy court judge on Monday approved a Sept. 24 auction for the failed $2.4 billion Revel Casino Hotel in Atlantic City after a Florida developer offered $90 million cash for the closed building.
Developer Glenn Straub said parts of the building could reopen a couple of weeks after the sale. He told reporters that a casino likely would operate in the building at some … [Read more...]
Associated Press · September 15, 2014 at 2:06 pm
DUBAI, United Arab Emirates — Developers said Monday they will build a $1.4 billion expanse of lavish suites and residences next to the famed Atlantis resort on Dubai’s man-made palm-shaped island as part of the emirate’s drive to build up tourism revenue.
Investment Corporation of Dubai and Kerzner International Holdings, which will manage the 800-room hotel, said The Royal Atlantis Resort and … [Read more...]
Associated Press · September 15, 2014 at 11:33 am
HARTFORD, Conn. (AP) - Connecticut's Indian-run casinos have reported declines in slot machine betting and revenue for August.
Mohegan Sun said Monday total slot machine bets in August totaled $674.3 million, down 3.7 percent from $700.4 million in August 2013. The share of wagers known as revenue was $56.2 million in August, down less than half of 1 percent, from about $56.4 million in the … [Read more...]
Associated Press · September 15, 2014 at 11:01 am
BOSTON (AP) - Roman Catholic leaders in Massachusetts are urging residents to vote in favor of November's ballot question to repeal the state's casino law.
Boston Cardinal Sean O'Malley, Worcester Bishop Robert McManus, Springfield Bishop Mitchell Rozanski and Rev. George Coleman, the Apostolic Administrator of Fall River, say the gambling industry threatens local businesses, "weakens the moral … [Read more...]
Howard Stutz, Las Vegas Business Press · September 15, 2014 at 6:41 am
Eilers Research gaming analyst Adam Krejcik estimates the expanding social casino phenomenon in the U.S. will eclipse $2.7 billion in revenue this year.
That’s a pocketful of virtual gaming tokens.
The growing activity is one reason Station Casinos signed on with the myVegas social gaming site.
The casino operator views social gaming as a way to keep its current customers engaged when … [Read more...]
Philip Marcelo, Associated Press · September 15, 2014 at 2:02 am
BOSTON (AP) - State gambling regulators were to resume discussions on awarding the lucrative Boston-area casino license to either Wynn Resorts or Mohegan Sun.
In a surprise move, the Massachusetts Gaming Commission suspended last week's deliberations in order to give the two casino giants time to respond to a series of terms and conditions the panel wants to impose on the projects. Discussions … [Read more...]
Grant Schulte, Associated Press · September 14, 2014 at 9:55 am
LINCOLN, Neb. (AP) - A ballot measure to allow machine betting on previously run horse races may have died in court this year, but supporters are already looking ahead to press the issue in 2016.
Horse owners and racing groups are pondering their options now that the Nebraska Supreme Court has stripped the issue from this year's ballot. The groups met days after this month's ruling to discuss … [Read more...]
Michael Rubinkam, Associated Press · September 14, 2014 at 9:42 am
DALLAS, Pa. (AP) - In the summer of 2004, Gov. Ed Rendell and top state lawmakers promoted legalized casino gambling as a way to provide historic relief from burdensome school property taxes.
A decade later, slot-machine revenue has helped restrain the inexorable growth of a tax that homeowners love to hate, and completely eliminated it for thousands of low-income seniors.
But an Associated … [Read more...]
Associated Press · September 13, 2014 at 1:49 pm
KENOSHA, Wis. (AP) - Gov. Scott Walker still hasn't decided whether to approve a proposed off-reservation casino in Kenosha, but that hasn't stopped the team leading the project from launching a website for prospective job seekers.
The Menominee Nation and Hard Rock said Friday that they created the website to prepare for the "likelihood of approval."
"While negotiations continue on the … [Read more...]
Philip Marcelo, Associated Press · September 13, 2014 at 10:58 am
MONTGOMERY, Ala. (AP) - The attorney general's office has won court cases allowing it to destroy machines seized from gambling halls in Houston, Jefferson and Lowndes counties. The shuttered VictoryLand casino in Macon County is trying to break that winning streak.
A four-day trial over the legality of gambling machines seized from VictoryLand wrapped up Friday in Montgomery. Attorneys on both … [Read more...]
Ed Komenda, Las Vegas Review-Journal · September 13, 2014 at 8:38 am
As the northern part of the Silver State recently landed its second major economic development project this year, a bold question has been lingering in Southern Nevada: Did the south get a fair shake?
While government officials say Tesla Motors, which recently announced it would plant its forthcoming $5 billion battery Gigafactory near Reno, decided on its own to avoid Las Vegas, community … [Read more...]
Howard Stutz, Las Vegas Review-Journal · September 12, 2014 at 6:35 pm
ATLANTIC CITY — Don Guardian won election as mayor of this seaside city last year by telling voters that fixing a government budget crisis requires a three-year-to-four-year plan.
He didn’t count on a rash of casino closings on the Boardwalk before the ink was dry on his mayoral business cards.
Guardian said the timetable has been dramatically moved up.
“We have to put something on the … [Read more...]
Wayne Parry, Associated Press · September 12, 2014 at 2:46 pm
ATLANTIC CITY, N.J. (AP) - Atlantic City's casino revenue declined by 1.2 percent in August compared with a year ago as another gambling hall shut down at the end of the month.
The 11 casinos operating during August won $294.4 million from gamblers, down from $298 million a year ago. The Showboat closed on Aug. 31 but had been slowly ramping down its operations during the month.
Figures … [Read more...]
Phillip Rawls, Associated Press · September 12, 2014 at 2:38 pm
MONTGOMERY, Ala. (AP) - A judge trying to decide the legality of 1,615 gambling machines seized from VictoryLand casino in Macon County said Friday the issue would be simpler if a constitutional amendment allowing bingo in the county had used the term "electronic bingo."
Montgomery County Circuit Judge William Shashy has presided over a four-day non-jury trial focusing on the machines. The … [Read more...]
Wayne Parry, Associated Press · September 12, 2014 at 1:44 pm
ATLANTIC CITY, N.J. (AP) — The owner of the Trump Taj Mahal casino has sent notices to more than 3,100 employees warning it could be shut down in November.
Trump Entertainment Resorts told The Associated Press it filed the notices earlier this week, saying it could close Nov. 13.
The company filed for bankruptcy on Tuesday and threatened to close the Taj Majal if it doesn't get concessions … [Read more...]
Laura J. Keller, Bloomberg · September 12, 2014 at 1:29 pm
(Bloomberg) -- Caesars Entertainment Corp. is beginning talks with some senior creditors of its biggest unit to restructure a portion of the company’s $24.2 billion in long- term debt.
The company is “committed to working constructively with creditors to deleverage” its most indebted unit “and create a path toward a sustainable capital structure,” Gary Loveman, chief executive officer of Las … [Read more...]
Stacie Sherman, Bloomberg · September 12, 2014 at 12:51 pm
(Bloomberg) -- Governor Chris Christie’s plan to allow sports betting in New Jersey won’t do much to boost Atlantic City casino revenue, according to Moody’s Investors Service.
Trump Entertainment Resorts Inc.’s Sept. 9 bankruptcy filing, the potential closing of Trump Taj Mahal in November, and the possibility of lawmakers’ allowing casinos in northern New Jersey would further stress Atlantic … [Read more...]
Associated Press · September 12, 2014 at 10:00 am
ALBUQUERQUE, N.M. (AP) - A federal judge is refusing to block the federal government from negotiating and possibly approving a new gambling compact for a Native American pueblo over the objections of New Mexico Gov. Susana Martinez's administration.
Senior U.S. District Judge James A. Parker on Thursday denied the state's request for an injunction to block the proposed federal compact for the … [Read more...]
Howard Stutz, Las Vegas Review-Journal · September 12, 2014 at 9:47 am
ATLANTIC CITY — Caesars Entertainment Corp. said Friday it would begin discussions with its senior bondholders in efforts to restructure the largest portions of the company’s gaming industry-high $24.2 billion debt.
In a filing with the Securities and Exchange Commission, Caesars announced “non-disclosure agreements with certain beneficial holders” to discuss restructuring debt due in … [Read more...]
Richard N. Velotta, Las Vegas Review-Journal · September 12, 2014 at 1:52 am
Break out the party hats — 5,800 revelers are coming to Las Vegas from Mexico for the El Grito weekend and Mexican Independence Day.
Through Saturday, 42 commercial flights and 17 additional charter flights will arrive at McCarran International Airport with an influx of visitors expected to spend an average $1,073 on nongaming purchases on their international trips.
“Each September our team … [Read more...]
Christopher Palmeri, Bloomberg · September 11, 2014 at 8:31 pm
(Bloomberg) -- Glenn Straub, the Florida developer who made a $90 million offer for the shuttered Revel Casino Hotel in Atlantic City, New Jersey, is considering buying the neighboring -- and also closed -- Showboat as well.
Caesars Entertainment Corp., the largest operator of U.S. casinos, shut Showboat in August to reduce capacity in the East Coast gambling hub amid a persistent decline in … [Read more...]
Phillip Rawls, Associated Press · September 11, 2014 at 6:27 pm
MONTGOMERY, Ala. (AP) - A former executive with a major gambling machine testing company testified Thursday that the games seized from the now-closed VictoryLand casino met the bingo regulations established by the Macon County sheriff.
Richard Williamson, former executive vice president of BMM Testlabs in Las Vegas, said the company tested the machines before VictoryLand began operating them in … [Read more...]
Dara Doyle, Bloomberg · September 11, 2014 at 6:16 am
Sept. 11 (Bloomberg) -- Scotland will probably reject independence in next week’s referendum, according to gamblers placing bets at Betfair Group Plc, a London-based online betting company.
Wagers show an 80 percent chance of a no vote, with a 20 percent probability of Scots backing independence in the Sept. 18 vote, Betfair said. Some 4 million pounds ($6.5 million) has been wagered on a no … [Read more...]