Pennsylvania casino revenues drop for second year
HARRISBURG, Pa. (AP) – Pennsylvania’s casino industry has suffered its second straight year of declining revenue, a reflection of increased competition as East Coast states try to keep their own gamblers at home. Gross revenue at the state’s 12 casinos…
Connecticut casinos post rare increase in slot machine bets
HARTFORD, Conn. (AP) – Connecticut’s two Indian casinos posted increases Thursday in slot machine bets in December, a rare spike in what had been a persistent decline. Foxwoods Resort Casino, owned by the Mashantucket Pequots, still reported a decline in…
Atlantic City Mayor: At least we’re not Detroit
ATLANTIC CITY, N.J. (AP) – Leave it to Don Guardian, the feel-good mayor of ailing Atlantic City, to put his city’s woes into context. Atlantic City lost four of its 12 casinos last year, saw 8,000 jobs eliminated, and has…
All 3 Caesars Entertainment Casinos in Atlantic City open despite Bankruptcy filing
Wayne Parry, Associated Press ATLANTIC CITY, N.J. (AP) – All three Atlantic City casinos owned by Caesars Entertainment remain open, despite a Chapter 11 bankruptcy filing Thursday by a unit of the global gambling giant. Caesars Entertainment Operating Company, the…
Mississippi dropped from the third-largest to the sixth-largest casino market in the country over the last 10 years
BY MARY PEREZ GULFPORT — Mississippi dropped from the third-largest to the sixth-largest casino market in the country over the last 10 years, Allen Godfrey, executive director of the Mississippi Gaming Commission said Thursday, but survived hurricanes, floods and competition…
Macau's Casinos Just Took Another Huge Hit
Macau casinos faced new woes yesterday as it was revealed that one of the city’s top-five junket operators would close most of its VIP gaming rooms for big-spending mainlanders. Analysts at Daiwa Capital Markets said David Group would close four…
Caesars places largest operating division into bankruptcy; judge OKs routine motions (updated)
Howard Stutz, Las Vegas Review-Journal The unraveling of Caesars Entertainment Corp.’s complicated financial structure began Thursday when the casino operator placed its largest business division into bankruptcy, taking the initial steps to eliminate almost $10 billion in debt. The pre-packaged…
Caesars Letting Apollo, TPG Keep Stake Fuels Creditor Anger
Laura J. Keller and David Carey, Bloomberg If all goes according to Caesars Entertainment Corp.’s plan that started with putting its biggest unit into bankruptcy today, the casino company’s private-equity owners won’t have to give up a penny of their…
Caesars unit says it filed Chapter 11 in bid to trim debt
LAS VEGAS (AP) – A cash-strapped division of casino giant Caesars Entertainment Corp. said early Thursday that it filed for bankruptcy protection in Chicago, hoping the court agrees to its plan to get out from under $18.4 billion in debt….
Borgata hits the jackpot as most surviving Atlantic City casinos show revenue gains
By Jeff Goldman | NJ Advance Media for NJ.com It was a terrible year for the four Atlantic City casinos that shut their doors last year. But it was an encouraging year for five of the surviving eight casinos, numbers…