Sorting out Caesars: How company slid into distress, and what’s next
The financial mess consuming Caesars Entertainment has been years in the making. The casino company has struggled with more than $20 billion in debt for about six years. It’s lost money every year since 2009, largely because of its debt…
Wynn Resorts Receives U.S. Government Request for Information
Bloomberg) — Wynn Resorts Ltd. said it received a government request for information, though the company is unaware of any criminal investigation. The Internal Revenue Service sent a letter to Donald Campbell, an outside attorney representing Wynn Resorts, asking for…
Las Vegas: Ice Skating with a view of the strip
Cosmopolitan adds ice with rink’s return Ice on the Strip usually means an on-the-rocks cocktail. But not at The Cosmopolitan of Las Vegas — which, starting Friday, once again transforms its Boulevard Pool into an overlooking-the-Strip ice rink. Unlike real…
Firm cancels plan to buy closed Revel Hotel Casino
ATLANTIC CITY, N.J. (AP) – A Toronto-based company abandoned its plan to buy the former Revel Casino Hotel in Atlantic City on Wednesday, dealing another blow to a city reeling from a string of casino closures and the disappearance of…
LVRJ EDITORIAL: Congress must reverse foolish online poker policy
LAS VEGAS REVIEW-JOURNAL Businesses need customers to stay in business. And because of the federal government’s nanny-state ban on interstate Internet gambling, Nevada’s promising online poker industry doesn’t have enough customers to sustain competing companies. Ultimate Gaming, which 19 months…
America’s Casino-Saturation Problem
BY JOHN WOLFSON The New Yorker In the summer of 2010, New Jersey Governor Chris Christie travelled by helicopter to Atlantic City for what the local media described as a historic press conference. The news out of the city had…
NC appeals court upholds video gaming convictions
RALEIGH, N.C. (AP) – A North Carolina appeals court on Tuesday upheld the convictions of two people for violating a state ban on video sweepstakes games in what state Attorney General Roy Cooper’s office said was the first such ruling…
Malta: Cruise liners will now be able to operate their casinos in Maltese waters, opening up a new revenue stream for them and the Lotteries Gaming Authorit
he 2015 budget addresses the gripes of various lobby groups. Cruise liners will now be able to operate their casinos in Maltese waters, opening up a new revenue stream for them and the Lotteries & Gaming Authority. Until now cruise…
Canada: Ontario looking for ways to control offshore online gambling
ANTONELLA ARTUSO | QMI AGENCY TORONTO – Ontario is considering steps it can take to control offshore online gaming, Finance Minister Charles Sousa says. Providing a safe online alternative run by the Ontario Lottery and Gaming Corp. (OLG) is the…
Gaming industry embraces Silver’s view of sports betting
Nevada’s virtual monopoly on legalized sports wagering could be in danger. But is that bad for business? In a New York Times op-ed piece last Thursday, National Basketball Association Commissioner Adam Silver wrote the league should reconsider its stance against…