Commentaries by Commentaries 2014: Rough debut year for U.S. online gambling. 2014: Rough debut year for U.S. online gambling
By any measure, 2014 has been a humbling year for the online gaming business in the U.S. After starting with a bang in late 2013, all sorts of problems have completely halted its momentum. A quick recap: banks and payment…
New York panel picks 3 upstate resort casinos
ALBANY, N.Y. (AP) – Three economically distressed counties in upstate New York have been selected as sites for casinos, a panel announced Wednesday, bringing an end to a fierce competition among developers and job-hungry communities. The Gaming Facility Location Board…
Caesars skips $225 million interest payment
Caesars Entertainment Corp. made good on previous predictions and skipped a $225 million interest payment Monday while the casino operator continued debt reduction talks with lenders. The interest payment, due on second-tier debt covering its Caesars Entertainment Operating Co., business…
Golden Nugget drops tax suit threat
TRENTON, N.J. (AP) – Atlantic City’s Golden Nugget casino dropped a threat Monday to file a lawsuit blocking a package of tax relief for Atlantic City’s eight casinos. The casino’s general counsel, Steven Scheinthal, told The Associated Press that proposed…
FBI agent grilled on Caesars gambling case search
LAS VEGAS (AP) – An FBI agent was grilled Monday in federal court about whether investigators intentionally deceived a judge to arrest a Malaysian businessman, his son and six others who prosecutors said were operating a $13 million illegal international…
Las Vegas brings back ‘What happens here, stays here’
The Las Vegas Indie rock band Imagine Dragons has joined the parade of local entertainment celebrities boosting tourism by participating in a “What happens here, stays here” television advertisement for the Las Vegas Convention and Visitors Authority. LVCVA board members…
Wynn’s $1.6Billion casino project in Massachusetts faces new hurdles
BOSTON (AP) – New hurdles are emerging for Wynn Resorts as it prepares to build a $1.6 billion resort casino on the Everett waterfront after winning the lucrative casino license for the Boston area. Somerville filed a lawsuit last week…
Atlantic City: College finalizes purchase of ex-Showboat casino
ATLANTIC CITY, N.J. (AP) – A southern New Jersey college finalized its purchase of the former Showboat Casino Hotel in Atlantic City on Friday. Richard Stockton College of New Jersey paid $18 million for the former casino, which closed Aug….
Caesars Lenders Disclose Bankruptcy Plan as They Exit Talks
(Bloomberg) — Caesars Entertainment Corp.’s highest-ranked lenders spurned the casino company’s efforts to restructure its most indebted unit, imperiling tentative agreements reached over three months of talks with a broader group of creditors. KKR & Co. and Franklin Resources Inc….
Las Vegas: Openings set in trial over flawed casino in Vegas
Harmon hotel being taken apart bit by bit. Developers did not want to demolish hotel via implosion. LAS VEGAS (AP) – Lawyers for casino giant MGM Resorts International and contractor Tutor Perini Corp. are set to tell a jury the…