Wayne Parry, Associated Press · June 18, 2014 at 3:08 pm
ATLANTIC CITY, N.J. (AP) - Atlantic City is aiming to boost its meetings and convention trade through a new nonprofit agency.
Called Meet AC, the group was created in late April and recently hired its first CEO, James Wood. He previously served as president and CEO of the Louisville Convention and Visitors Bureau in Kentucky and the Providence Warwick Convention and Visitors Bureau in Rhode … [Read more...]
Howard Stutz, Las Vegas Review-Journal · June 18, 2014 at 2:23 pm
The chief executive of European online gaming giant 888 Holdings said Wednesday that rival PokerStars should be allowed to operate in the United States now that the company is being sold for $4.9 billion to a Canadian Internet wagering firm.
The comments by 888 CEO Brian Mattingley differ dramatically from online industry rivals and various state lawmakers, who have moved to ban PokerStars from … [Read more...]
Jeff Amy, Associated Press · June 18, 2014 at 12:04 pm
TUNICA RESORTS, Miss. (AP) - It was 3:30 p.m. on a Monday in May at Harrah's Tunica Hotel & Casino in northwestern Mississippi.
Gamblers were few in number, and dealers stood ready at idle card tables.
It was easy to see why Caesars Entertainment Corp. was giving up on the 136,000 square-foot casino floor - the largest between New Jersey and Las Vegas. Harrah's closed June 2 - 18 years … [Read more...]
Kelvin Chan, Associated Press · June 18, 2014 at 8:12 am
HONG KONG (AP) - As teams battle for football glory at the World Cup in Brazil, the biggest winners from the tournament may be illegal bookmakers in Asia.
Since kickoff, Chinese officer worker Chen has already wagered 2,000-3,000 yuan ($320-$480) through black market online bookies and plans to gamble more on big upcoming games.
Chen, who started betting on sports that also include NBA games … [Read more...]
Elaine Kurtenbach, Associated Press · June 18, 2014 at 6:52 am
TOKYO (AP) - Japanese lawmakers began debate Wednesday on a bill that would allow casino resorts in an attempt to attract more foreign tourists and investment.
The ruling Liberal Democratic Party favors the plan as part of Prime Minister Shinzo Abe's strategy of boosting economic growth by doubling the number of foreign tourists visiting Japan to over 20 million by 2020.
Japan already has a … [Read more...]
Cecilia Yap and Joyce Koh, Bloomberg · June 18, 2014 at 4:25 am
June 18 (Bloomberg) -- Melco Crown Entertainment Ltd.’s Philippine unit is seeking to raise as much as $129 million selling shares after it increased the budget for its Manila casino by about a third to 37 billion pesos ($840 million).
Melco Crown (Philippines) Resorts Corp. is offering as many as 485.2 million shares at 11.30 pesos to 11.70 pesos each, according to terms for the deal obtained by … [Read more...]
Howard Stutz, Las Vegas Review-Journal · June 18, 2014 at 3:26 am
MGM Resorts International and Prince George’s County signed a community benefits agreement on Tuesday that ensures 50 percent of the jobs slated for the $925 million MGM National Harbor will go to local residents.
The agreement also has provisions for a specific percentage contracts to be awarded to area minority-owned businesses during the construction phase of the development.
“We feel … [Read more...]
Howard Stutz, Las Vegas Review-Journal · June 17, 2014 at 6:05 pm
Caesars Entertainment Corp., extended by more than a week an offer for investors to purchase $791.8 million in the company’s long-term debt.
The casino operator had previously extended the offer to end Monday. The offer now expires June 27.
The bond purchases are part of the company’s effort to restructure a portion of its gaming industry high $23 billion in long-term debt.
Contact … [Read more...]
Richard N. Velotta, Las Vegas Review-Journal · June 17, 2014 at 4:54 pm
Southern Nevada’s economy will continue to strengthen through 2014 as tourism, gaming, construction and the housing industries plod toward pre-recession levels.
Current trends indicate the region is continuing its fourth year of recovery from the economic downturn that hurt Nevada worse than any other state, said Stephen Brown, director of the Center for Business and Economic Research at the … [Read more...]
Associated Press · June 17, 2014 at 3:21 pm
BOSTON (AP) - Casino opponents said Tuesday they've collected more than double the number of signatures they need to ask voters in November to repeal the state's 2011 casino law.
Repeal the Casino Deal said in a statement it will file signature papers representing more than 26,000 registered Massachusetts voters to local city and town halls by Wednesday's deadline. The group has already … [Read more...]
Michael Hill, Associated Press · June 17, 2014 at 2:34 pm
ALBANY, N.Y. (AP) - As the field of bidders for a Catskills casino shrinks, a remaining developer said Tuesday his group's plans will not be possible if another casino is approved in a neighboring county closer to New York City.
Michael Treanor said financing for his group's proposed casino on the site of the former Nevele resort in Ulster County will be contingent on there not being a casino … [Read more...]
Michelle Rindels, Associated Press · June 17, 2014 at 1:18 pm
LAS VEGAS (AP) - The southern Nevada economy is on the rebound, and employment will return to pre-recession levels by early 2016, according to forecasters at the University of Nevada, Las Vegas.
Researchers at the university's Center for Business and Economic Research released a semiannual report Tuesday that says this year's recovery should be stronger than last year's, and 2015 should bring … [Read more...]
Jonathan Burgos and Sanat Vallikappen, Bloomberg · June 17, 2014 at 12:00 pm
June 18 (Bloomberg) -- Yeah Lee Ching recalls when a lady walked into her pawnshop in Singapore and pledged a $10,000 diamond-studded gold Rolex watch to bankroll casino spending. She never came back for her jewelry.
Pawnbrokers are proliferating across Singapore as gamblers seeking short-term loans add to demand for quick cash from people struggling to make ends meet in the world’s most … [Read more...]
Maiko Takahashi, Takashi Hirokawa and Isabel Reynolds, Bloomberg · June 17, 2014 at 12:00 pm
(Bloomberg) -- Japan will start debate today on a bill to legalize casinos, paving the way for its passage before the end of the year.
Discussions will begin in a committee of the lower house at 9 a.m., said Masahiko Shibayama of the ruling Liberal Democratic Party. The bill, which was submitted to parliament last December, will not be passed before the end of the session on June 22 and will be … [Read more...]
Associated Press · June 17, 2014 at 6:21 am
LAS VEGAS (AP) - An exhibit honoring the late Las Vegas gambling pioneer Jackie Gaughan is going up in his beloved El Cortez casino.
The display set to be unveiled Tuesday is titled "Jackie Gaughan's Downtown As Seen Through Gaming Memorabilia." It will include casino chips, tokens, dice and other artifacts from nine casinos Gaughan owned or had a stake in.
The exhibit is the first mobile … [Read more...]
Howard Stutz, Las Vegas Review-Journal · June 17, 2014 at 5:00 am
The countdown has begun.
Operators of the SLS Las Vegas said the $415 million hotel-casino will open at midnight Aug. 23. To herald the opening date, a countdown will begin Tuesday morning on the north Strip resort’s new marquee.
The 1,600-room property — a renovation of the Rat Pack-era Sahara — had been expected to open the last week of August prior to a grand opening celebration Labor Day … [Read more...]
Billy Chan and Vinicy Chan, Bloomberg · June 17, 2014 at 4:09 am
(Bloomberg) -- Macau will reduce the maximum number of days that Chinese passport holders with transit visas can stay in the city to five from seven, in an attempt to prevent them from abusing the law. Casino shares dropped.
Transit visitors from China who don’t depart for another destination within the five days will be in violation of the new rules, effective July 1, and will be penalized upon … [Read more...]
Wayne Parry, Associated Press · June 16, 2014 at 6:16 pm
ATLANTIC CITY, New Jersey (AP) - Atlantic City is planning a series of events to attract gay tourists, who are becoming an increasingly important part of the resort's growth strategy.
Mayor Don Guardian and tourism officials said Monday the goal is to reinvigorate a once-thriving gay community in the New Jersey resort city.
"Atlantic City had its heyday with the gay population on New York … [Read more...]
Associated Press · June 16, 2014 at 5:32 pm
HARRISBURG, Pa. (AP) - Pennsylvania casinos took in about $64 million from table games last month, up 2.3 percent from May 2013.
The state collected $9.2 million in taxes.
The Pennsylvania Gaming Control Board released monthly figures on Monday.
The Sands Casino Resort in Bethlehem was the biggest gainer, up 12 percent. The Meadows Racetrack and Casino in Washington lost nearly 30 … [Read more...]
Associated Press · June 16, 2014 at 3:38 pm
PHILADELPHIA (AP) - Minority investors in Philadelphia's SugarHouse Casino on Monday lost a legal round in their bid to stop Pennsylvania gambling regulators from licensing a second casino in the city.
The minority partnership group, led by Philadelphia lawyer Richard Sprague and auto dealer Robert Potamkin, argued that the Pennsylvania Gaming Control Board does not have the authority to award … [Read more...]
Howard Stutz, Las Vegas Review-Journal · June 16, 2014 at 11:39 am
Slot machine giant International Game Technology all but confirmed the company is up for sale Monday, saying in a statement it was “currently” exploring “a broad range of strategic alternatives.”
In a one-paragraph comment, IGT said its board of directors and senior management are “currently engaged” in looking at potential “changes to our capital structure and adjustments to our portfolio of … [Read more...]
Wayne Parry, Associated Press · June 16, 2014 at 3:33 am
ATLANTIC CITY, N.J. (AP) - About 12 percent of New Jersey gamblers would take their business to one or more of the four new casinos being built in New York, according to a new poll.
A Fairleigh Dickinson University PublicMind poll released on Monday finds 57 percent of New Jerseyans would stick with Atlantic City as their destination of choice. But the 12 percent who would switch to a New York … [Read more...]
Gary D. Robertson, Associated Press · June 15, 2014 at 12:14 pm
RALEIGH, N.C. (AP) - Social conservatives in the House long opposed to North Carolina's lottery had to swallow hard before voting yes and bet on a plan that contained sizeable teacher salary increases.
That's because House GOP leaders essentially offered colleagues a deal in the budget bill - let the lottery spend more to entice more people to participate in state-sponsored gambling, and … [Read more...]
David Pitt, Associated Press · June 15, 2014 at 11:05 am
DES MOINES, Iowa (AP) - Iowa gambling regulators last week narrowly voted to approve the state's first new casino in four years but sent strong signals it's likely to be the last one for some time.
By a 3-2 vote Thursday, the five-member Iowa Racing and Gaming Commission approved the $40 million project in Jefferson by Wild Rose Entertainment, which already operates casinos in Emmetsburg and … [Read more...]
Howard Stutz, Las Vegas Review-Journal · June 14, 2014 at 9:53 pm
Anton Nikodemus never visited Las Vegas until he came to town for a job interview with the MGM Grand.
That moment took place in 2005, when Nikodemus was well into his career as a hotel and hospitality executive.
We say surprisingly because Nikodemus was born and raised in the Phoenix area. He attended Arizona State University.
Even as a college student, Nikodemus and his fraternity … [Read more...]