Caesars Credit Swaps Jump as Lenders Said to Agree on REIT Plan
(Bloomberg) — Swaps protecting Caesars Entertainment Corp. investors from default jumped to a record after the largest U.S. casino operator reached an agreement with lenders to turn its biggest unit into a real estate firm, indicating the market has priced…
Borgata undergoing $13 million facelift targeting suites, spa and buffet
By Vicki Hyman | NJ Advance Media for NJ.com As one Atlantic City casino after another folds, the Borgata has announced a $13 million facelift of its casino floor, buffet, spa and suites starting next month. The renovation of the…
Icahn: Taj Mahal ‘a bad investment for me’
ATLANTIC CITY, N.J. (AP) — Billionaire Carl Icahn says buying Atlantic City’s Trump Taj Mahal casino would be “a bad investment for me.” But in a letter Tuesday to Bob McDevitt, the president of its main union, Icahn says he’s…
Bankruptcy wrangling for ex-Trump, Revel casinos
ATLANTIC CITY, N.J. (AP) – Some of the hottest action in Atlantic City involves closed casinos in bankruptcy court, where Donald Trump is trying to recoup rent he paid on a driveway and the city is fighting to collect more…
Seminole Tribe's lucrative gambling compact with Florida could end if no action is taken
By: Emon Reiser Florida could lose about $116 million a year if an exclusive deal between the Broward-based Seminole Tribe and the state expires. The agreement signed in 2009 gave the tribe exclusive rights to conduct card games like blackjack…
1989: The Mirage, Steve Wynn and I… the beginning of a 25-year love affair with the gaming industry
By Jeffrey Compton November 1989 – Thanksgiving week. I was in Los Angeles dealing with family issues. My brother Bill had developed schizophrenia and walked out of his treatment center to who knows where. I was trying to figure out…
Navy commander linked to fake poker chips
WASHINGTON (AP) – The admiral fired last year as No. 2 commander of U.S. nuclear forces may have made his own counterfeit $500 poker chips with paint and stickers to feed a gambling habit that eventually saw him banned from…
New Jersey racetrack plans fantasy sports betting
OCEANPORT, N.J. (AP) – A New Jersey racetrack says it will soon offer fantasy sports betting. Monmouth Park officials announced their plans in a statement Saturday. It came one day after a federal judge ruled the state can’t partially lift…
NJ online gambling underwhelms in first year
ATLANTIC CITY, N.J. (AP) – Internet gambling in New Jersey has been underwhelming in the year since it began, and it is now under attack by opponents looking to shut it down, even as it provides a small bit of…
Internet poker in California shapes up as coveted prize
By Howard Stutz, Las Vegas Review-Journal California is shaping up as the nation’s Internet poker battleground in 2015. Everyone wants a piece of the potentially lucrative pie. With 38 million residents, California has an Indian casino industry that produces almost…