Revel Sale Remains in Limbo as Judge Weighs Creditor Challenge
Michael Bathon, Bloomberg Revel AC Inc.’s $95.4 million sale to developer Glenn Straub remains in flux as a federal judge weighs creditors’ pleas to halt a bankruptcy court’s ruling approving the deal, saying it will strip them of rights. Revel’s…
Icahn Acquisition of Trump Casinos Delayed Two Weeks: Bankruptcy
Bill Rochelle and Sherri Toub, Bloomberg Carl Icahn was delayed about two weeks in his quest to expand his gambling holdings in Atlantic City, New Jersey, by purchasing two casinos owned by bankrupt Trump Entertainment Resorts Inc. A hearing had…
Steve Wynn's 37.5 percent pay cut in base salary was described by Wynn Resorts Ltd. as an adjustment that will include a performance-based equity component as part of his compensation.
Keynote speaker Steve Wynn, CEO of Wynn Resorts, speaks during a seminar at the Global Gaming Expo at Sands Expo and Convention Center in Las Vegas Tuesday, Sept. 30, 2014. On Tuesday, Jan. 20, 2015, Wynn Resorts Ltd. said it…
More Casino Losses Seen on Chinese Corruption Crackdown
Oliver Renick, Bloomberg When it comes to the prospects for casino companies operating in China, options traders are betting against a quick recovery. Contracts to sell shares of Wynn Resorts Ltd. (WYNN) are near the most expensive levels relative to…
Old school: Takeover of Stardust an easy call for Bill Boyd
Bill Boyd, executive chairman of Boyd Gaming, speaks with employees during the grand opening of California Noodle House, at the California Hotel and Casino in Las Vegas on Friday, Jan., 16, 2015. The California Hotel and Casino will celebrate its…
Vegas Bookies: Patriots-Seahawks pick ‘em for Super Bowl
Tim Dahlberg, Associated Press LAS VEGAS (AP) – The Super Bowl looks like a tossup in this gambling city, where more than $100 million will likely be riding on the game by kickoff. A flurry of early money on the…
Caesars Bankruptcy Reorganization Dealt Setback by Federal Judge
Bill Rochelle, Bloomberg · A judge dealt Caesars Entertainment Corp. (CZR)’s bankruptcy reorganization a possible fatal blow in ruling that the company violated federal law when it shuffled assets and refinanced debt as part of an alleged scheme to protect…
Commission head: Coast ‘shining star’ of Mississippi casinos
Associated Press · GULFPORT, La. (AP) – Mississippi Gaming Commission executive director Alan Godfrey says that South Mississippi was “the shining star” of Mississippi’s casino business last year. He says the coast was the only part of the state where…
U.S. Pressures Casinos Over Sports Betting
The U.S. Treasury is telling casinos to do more to stop criminals from using their sports books to launder money in its latest warning to the industry to bolster compliance programs. The Treasury’s Financial Crimes Enforcement Network along with law…
Las Vegas gaming companies may face bigger tax bite in Macau
Howard Stutz, Las Vegas Review-Journal · January 19, 2015 at 3:11 pm A Chinese government official is hinting at a potential gaming tax increase ahead of license renewals for Macau’s casino operators. A Hong Kong-based gaming analyst said Monday the…