Articles tagged “casinos”

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.

4 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.

6 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.

7 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.

8 months 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.

8 months 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?

9 months ago

Las Vegas Sands Sees Sales Rocket on Strength of New Macau Resorts

Las Vegas Sands Sees Sales Rocket on Strength of New Macau Resorts

Christopher Palmeri, Bloomberg

Sometimes gambling is a good bet. While best known in the U.S. for its Venetian hotel in Las Vegas, Sands generates most of its revenue from casinos in Macau and Singapore — which were more profitable in the first quarter of 2018 than had been forecasted.

9 months ago

Asian Casino Operator Melco Has European Ambitions in Cyprus

Asian Casino Operator Melco Has European Ambitions in Cyprus

Georgios Georgiou, Bloomberg

Melco's challenge is less about getting Asian tourists, such as the massive Chinese market, to recognize its brand in Europe than it is to convince them to take long-haul trips to casinos when they have options much closer to home.

1 year ago

Atlantic City’s Failed Revel Casino Sells for $200 Million

Atlantic City’s Failed Revel Casino Sells for $200 Million

Christopher Palmeri, Bloomberg

Atlantic City continues to be the reigning basket case of East Coast tourist towns. It seems as though the road to saving this destination isn't paved with more gambling.

1 year ago

Las Vegas Gambles It Can Attract Millennials With Instagram-Worthy Moments

Las Vegas Gambles It Can Attract Millennials With Instagram-Worthy Moments

Regina Garcia Cano, Associated Press

Can the Vegas casinos attract millennials with zip lines and bunk beds? Some of them, sure. But the casinos may have to open their marketing toolboxes anew if they think retooling slot machines will attract this sought-after target market in droves.

1 year ago

Las Vegas Casino Execs Talk Security and Recovery After Shooting

Las Vegas Casino Execs Talk Security and Recovery After Shooting

Christopher Palmeri and Lisa Du, Bloomberg

Las Vegas hotels and casinos aren't sure what the future of hotel security will look like, but they do know they move forward with growth and event strategies in wake of the tragedy.

1 year ago

Business-Friendly Parq Vancouver Hotel and Casino Avoids Vegas Cliches

Business-Friendly Parq Vancouver Hotel and Casino Avoids Vegas Cliches

Kate Krader, Bloomberg

A resort for high-end business travelers needs to cater to that population's needs, not center around a casino. The developers of Parc Vancouver were forced to scale down their gaming ambitions, and the project will likely be better for meetings and individual business travelers as a result.

2 years ago