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Howard Stutz Gaming Guru - Page 31Inside Gaming: Portugal and Macau forever linked despite distance of 6,800 miles13 May 2015
ESTORIL, Portugal — Outside the primary entrance to Casino Estoril, a stone marker with colorful tiles recognizes the one-time kingpin of Macau’s gaming industry. Portugal and Macau are forever connected despite a separation of more than 6,800 miles. Much of the relationship hinged on controversial Hong Kong billionaire Stanley Ho. ... (read more)
Station Casinos upbeat about jobs from new Strip project12 May 2015
Last week’s groundbreaking for the $4 billion Resorts World Las Vegas was celebrated in the offices of Station Casinos. The locals casino operator viewed the potential 30,000 construction jobs being created by the development as an expanded customer base. “The construction sector is already the fastest ... (read more)
Caesars facing fine of up to $20 million to settle money laundering charges12 May 2015
Caesars Entertainment Corp. said it was in discussions with federal authorities to settle money laundering allegations at Caesars Palace and the casino company could pay a fine of between $12 million and $20 million. The company disclosed the talks with the Financial Crimes Enforcement Network of the U.S. ... (read more)
Union Gaming Group establishes office in Hong Kong11 May 2015
Las Vegas based casino industry advisor Union Gaming Group has opened a second office in Asia to service a potentially growing market. The company, which established an equity research office in Macau in 2011, said it formally received approval to offer investment banking services in Hong Kong by the Special Administrative Region’s Securities and Futures Commission. ... (read more)
Macau gaming revenue down 39 percent in April, 11th straight monthly dip11 May 2015
Macau gaming revenue fell for the 11th straight month during April and analysts universally believe May will mark a year of declines for the world’s largest gambling market. The Macau Gaming Inspection and Coordination Bureau said earlier this week that Macau casinos collected $2.4 billion from gamblers, a 39 percent drop from April 2014. ... (read more)
Scientific Games nearly doubles revenue and net loss11 May 2015
Gambling equipment giant Scientific Games said Thursday company revenue nearly doubled in the first quarter, its first full three-month period since buying rival Bally Technologies for $5.1 billion. However, the manufacturer, which moved its headquarters to Las Vegas in January, said its net loss for the ... (read more)
Revenue, cash flow increase for Affinity Gaming11 May 2015
Casino operator Affinity Gaming experienced a nearly 1 percent increase in the revenue in the first quarter, but saw its cash flow jump more than 30 percent. In a statement Friday, Las Vegas-based Affinity, which owns the three Primm Valley Resort and Casino resorts and the off-Strip Silver Sevens Hotel & ... (read more)
Utah native takes roundabout route to becoming gaming attorney27 April 2015
Jennifer Roberts never considered a career as a gaming attorney. She grew up in Salt Lake City and earned an undergraduate degree in criminology from the University of Utah. She briefly thought about looking into an advanced degree in some type of forensic science program. “Since I knew I could never get through organic chemistry, I chose law instead,” Roberts said. ... (read more)
California tribal gaming market regains momentum13 April 2015
Eight years ago, California’s Indian casino market was approaching $8 billion in annual gaming revenue. By comparison, Nevada casinos in 2007 brought in a single-year record $12.8 billion, of which $6.8 billion came from the Strip. The recession knocked the California casino market down a few notches, as it did in Nevada. ... (read more)
Despite high taxes, MGM National Harbor offers huge potential7 April 2015
MGM Resorts International had a busy March. And that’s without the unsolicited offer from a minor shareholder to convert the casino giant into a real estate investment trust. On March 24, MGM officials broke ground on the Las Vegas-based company’s $800 million hotel-casino development in Springfield, Mass. ... (read more)
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