Articles tagged “casinos”

Wynn Resorts Bets on Vegas-Style Glitz for New Boston-Area Hotel

Wynn Resorts Bets on Vegas-Style Glitz for New Boston-Area Hotel

Christopher Palmeri , Bloomberg

Usually casinos outside major cities lack some of the polish of Las Vegas. But with its new hotel outside Boston, Wynn is trying something different. The Encore Boston Harbor will be a Vegas-style operation. Will it work?

3 weeks ago

Wynn Resorts May Sell New Boston-Area Casino to MGM Resorts

Wynn Resorts May Sell New Boston-Area Casino to MGM Resorts

Christopher Palmeri, Bloomberg

Wynn Resorts fought hard to win the right to open this casino outside Boston. But business priorities change, and this seems less important to the company now.

1 month ago

Fortunes May Soon Improve for Macau’s Casinos

Fortunes May Soon Improve for Macau’s Casinos

Angus Whitley and Daniela Wei, Bloomberg

Since casinos in the region are so dependent on China for customers, an improving Chinese economy is bound to help with growth.

2 months ago

Japan Approves Rules for Resorts With Casinos

Japan Approves Rules for Resorts With Casinos

Emi Nobuhiro and Isabel Reynolds, Bloomberg

Looking at the new rules, Japan appears to have followed in the footsteps of Singapore in ensuring resorts that integrate casinos, entertainment shows, convention spaces, will have gambling as only a portion of the business.

3 months ago

Macau Casino Revenue Drops for First Time Since 2016

Macau Casino Revenue Drops for First Time Since 2016

Daniela Wei, Bloomberg

Macau's gaming tables are a decent indicator of how hard China's economic slowdown and trade tensions are hitting Chinese consumers. January's revenue figures show a softer-than-expected blow, reaffirming earlier views by casino resorts that China anxiety is overplayed.

5 months ago

Macau Casino CEO Claims Analysts Overreacting With Negative Forecasts

Macau Casino CEO Claims Analysts Overreacting With Negative Forecasts

Daniela Wei, Bloomberg

Either Melco Chief Executive Officer Lawrence Ho knows something most other people don't about the Macau market or he's spinning a tale.

5 months ago

China’s Slowdown Is Driving Away Some of Macau’s High Rollers

China’s Slowdown Is Driving Away Some of Macau’s High Rollers

Daniela Wei, Bloomberg

The Macau casino stock index has slumped to its lowest level in a year. No wonder. Deutsche Bank has cut its 2019 outlook for casino revenue to 4 percent, from 11 percent, as China feels the pressure of the trade war and other factors.

9 months ago

Japan Legalizes Casino Gambling in a Boon to Resort Developers

Japan Legalizes Casino Gambling in a Boon to Resort Developers

Lisa Du and Maiko Takahashi, Bloomberg

After years of debate, Japan legalized casino gambling and created a path for three casino resorts to be built. Operators are lining up for their chance to get in on the building boom.

11 months ago

Growing Chinese Tourism in Cambodia Stirs Resentment

Growing Chinese Tourism in Cambodia Stirs Resentment

Sheridan Prasso, Bloomberg

China's growing tourism has helped turn a quiet resort town in Cambodia into a gambling hotspot. Like many destinations worldwide, Sihanoukville is finding that tourism can be a mixed blessing.

12 months ago

Atlantic City’s Fortunes May Revive Thanks to a Ruling on Sports Betting

Atlantic City’s Fortunes May Revive Thanks to a Ruling on Sports Betting

Elise Young and Stacie Sherman, Bloomberg

Last year walking the Atlantic City Boardwalk in New Jersey felt like visiting a ghost town. But the city's tourism business will hopefully jump thanks to just-legalized sports betting, the Hard Rock's about-to-debut property, and a surge in fashion outlet shops.

1 year ago

Supreme Court Decision on Sports Betting Will Hurt Vegas, Right? You’ll Be Surprised

Supreme Court Decision on Sports Betting Will Hurt Vegas, Right? You’ll Be Surprised

Dan Peltier, Skift

What happens in Vegas, stays in Vegas — except now sports betting, as other states look to swoop in and take their share of the multibillion market. But guess what? Vegas will survive.

1 year ago

Wynn Resorts Is Coming Up With New Ways to Distance Itself From Former CEO

Wynn Resorts Is Coming Up With New Ways to Distance Itself From Former CEO

Christopher Palmeri, Bloomberg

Removing the founder's name from its new property, and requesting executives consult an attorney after talking to him, is a definite sign that Wynn Resorts wants to break with the past. Surely, we can't be far off a total rebrand?

1 year ago