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…
Almost half Atlantic City’s casino revenue lost in 8 years
ATLANTIC CITY, N.J. (AP) – Atlantic City has lost nearly half its casino revenue over the past eight years as competition in nearby states cannibalized its market and drove four casinos out of business. Figures released Wednesday by the New…
Dec. 2014, full-year revenue for Atlantic City casinos
FULL-YEAR 2014 REVENUE FOR ATLANTIC CITY CASINOS: -Bally’s: $224.8 million (down 8 percent from 2013) -Borgata: $687.2 million (up 10.7 percent) -Caesars: $330.6 million (down 1.7 percent) -Golden Nugget: $185.5 (up 48.4 percent) -Harrah’s: $365.3 million (up 2.5 percent) -Resorts:…
Leo and De Niro fight it out in James Packer’s casino ad
James Packer spends big on star-studded ads promoting his Crown Casinos James Packer has spent big on one of the most ambitious pieces of branded content from an Australian company with an ad to promote his casinos in Manila and…
The Embezzler Driven by Gambling – Myth or Reality?
By Ken Adams The gaming industry is many things to many people. To the people who buy a lottery ticket, play a hand of poker, bet the ponies or go to a casino for an evening of fun, gaming is…
Nevada’s largest casinos lose $743.7 million in fiscal ‘14
The state’s largest casinos lost $743.7 million in the 2014 fiscal year, nearly cutting their losses in half from the previous year. The state Gaming Control Board’s 2014 Nevada Gaming Abstract, published Friday, said the 270 Nevada casinos that generated…