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Financial News

Money makes the world go around and we take a look at how it keeps the gambling world spinning. Whether it relates to mergers, buyouts, financial disasters, or gaming companies becoming more solid, we have it in this category.

Many might think the subject a little dry, but it’s always good to know the financial status of any gambling site you are playing at. Ignore it, and you might find that withdrawing your winnings becomes difficult – because the site no longer has any cash!

Massachusetts Slots Casino Plainridge Park Posts Six Percent Gain in 2017

Plainridge Park Casino Massachusetts

Plainridge Park Casino, a slots and electronic tables facility, saw its gross gaming revenue jump 6.3 percent in 2017. The Massachusetts Gaming Commission (MGC) reported this week that the 1,250-machine slot parlor generated total revenue of $164.8 million over the last 12 months. That’s a $9.8 million premium on 2016. December’s take totaled $12.7 million,…Read More

Indiana’s Commercial Casinos Could Take Hit Following Opening of Tribal Venue

The Four Winds Casino South Bend

The opening of the Four Winds Casino South Bend on Tuesday was an exciting moment for the Pokagon Band of Potawatomi Indians, who now operate the first tribal casino in the state of Indiana. But it’s a moment of dread for the 13 commercial casinos currently operating in the state, who fear that the new…Read More

Lucky Dragon in Foreclosure, Asian-Themed Casino to Be Auctioned Off Next Month

Lucky Dragon Las Vegas foreclosure

After a much ballyhooed launch less than two years ago, the Lucky Dragon Hotel and Casino is facing foreclosure, and the off-Strip Asian-themed resort could have a new owner as early as next month.    After closing its casino and restaurants less than two weeks ago, with Lucky Dragon reps at the time claiming the…Read More

Atlantic City Celebrates Second Consecutive Year of Gaming Revenue Growth in 2017

Atlantic City

The numbers are in, and New Jersey casinos are back. That’s the word from gaming officials in the Garden State after gross gaming revenue increased slightly in 2017, even after modest dip in December. New Jersey’s seven casino resorts increased their annual revenues by 0.3 percent, year-on-year, to $2.41 billion, according to figures by the…Read More

Wynn Land Deal Shows Deep Connections Between Wynn, Trump, and Ruffin

Trump Wynn Ruffin land

When Wynn Resorts announced that it was purchasing 38 acres of land across from the Wynn Las Vegas last month, it was unclear what the company or developer Steve Wynn might have planned for the plot of land that was once the Alon project site. But the deal did serve as a reminder of just…Read More

MGM REIT Pushes to Take Over Caesars Real Estate Trust, Would Create Major Player Among Publicly Traded REITs

MGM Growth Properties REIT Caesars

For monster casino operators like MGM Resorts and Caesars Entertainment, subsidiaries like REITs are just part of the game. But keeping track of who owns what and understanding what they can do with those branches is about as tricky and complex as playing chess while on roller skates on a speed boat. That doesn’t stop…Read More

Hard Rock Atlantic City Looks to Rehire Former Trump Taj Mahal Workers

Hard Rock Atlantic City jobs careers

Hard Rock Atlantic City is making good on its promise to revitalize the local region by encouraging former Trump Taj Mahal workers who were laid off by billionaire Carl Icahn’s closing of the Boardwalk casino resort in October of 2016 to apply for new employment. Scheduled to open this summer as a reimagined rock ‘n’…Read More

Macau Gambler Traffic No Longer from Just Beijing and Shanghai, as ‘Lower-Tier’ Chinese Citizens Become More Mobile

China Macau visitors

The Macau casino industry has largely depended on the citizens of China for its main revenue stream. But most of those visitors have also come from a select few parts of the country, or what are termed the “tier-one” cities of Shanghai and Beijing. Now, as reported in GGRAsia, analysts are saying that could all…Read More

Moody’s Gives Upstate New York Casino Del Lago Credit Rating Cut, Warns of Debt Default Possibilities

del Lago casino credit rating

The del Lago Resort & Casino in Upstate New York has struggled over its first 11 months in operation to come anywhere close to its projected revenues. Now faced with the reality that its gross gaming intake is going to come in around $100 million short for its first year, Moody’s Investors Service is slashing…Read More

Net Income at Major Las Vegas Strip Casinos Soars 191 Percent in Latest Fiscal Year

Las Vegas Strip casino net income

Las Vegas Strip casinos that grossed at least $1 million in annual gaming revenue are coming off a very prosperous 12-month run. That’s according to the 2017 Nevada Gaming Abstract, released late last week, which shows that net incomes surged 191.4 percent between July 1, 2016, and June 30, 2017 for these gaming venues. According…Read More

20-Year-Old Shane Missler of Florida Wins $451 Million Mega Millions Lottery, Plans for Future

Shane Missler

Florida’s Shane Missler, 20, couldn’t even go into a bar and celebrate with a drink after he learned he won $451 million in the Mega Millions Lottery a week ago. Not that imbibing would have been his first inclination. The Floridian instead hired a lawyer and began charting his future after the windfall. When the…Read More

Point Place Casino Near Syracuse Threatens to Crowd Already Struggling Upstate New York Gaming Market

Upstate New York casinos

When Point Place Casino near Syracuse opens on March 1, the boutique $40 million, 65,000-square-foot casino will feature 500 slot machines and 20 table games. And while that might be great news for area gamblers, it’s not quite as welcomed by the competition. New York gambling venues have been sprouting up across the state since…Read More

Macau VIP Gambling to Slow in Second Half of 2018, Bernstein Analysts Predict

Macau VIP gaming revenue

Macau VIP gaming revenue will begin to cool off in the latter half of 2018. That’s according to analysts at Sanford C. Bernstein, who wrote this week that political and economic factors surrounding the Special Administrative Region will partially suppress the market. Fresh off a prosperous 2017 where gross gaming revenue soared 19 percent to…Read More

Philippines President Rodrigo Duterte Warns PAGCOR Officials to Avoid Graft and Corruption

Rodrigo Duterte PAGCOR Philippines

Philippines President Rodrigo Duterte warned government gaming regulators and casino operators yesterday that he would give no mercy against individuals who engage in graft or corruption. Speaking at a Philippine Gaming and Amusement Corporation (PAGCOR) event in Manila, the president said that while he appreciates the tax revenue the industry creates, he has zero patience…Read More

Cryptocurrencies Pose Regulatory Risk for Casinos in Asia, Says Ex-Police Chief 

Former Hong Kong police chief Steve Vickers

Cryptocurrencies are bad news for Asia’s casinos and gaming companies that flirt with them should expect a regulatory backlash from Beijing and other governments. That’s the lowdown from Steve Vickers, the former commander of the Royal Hong Kong Police criminal intelligence bureau, and now the head of his own specialist risk mitigation, corporate intelligence, security…Read More