Articles tagged “casinos”

Macau Faces Biggest Threat to Growth in 5 Years

Macau Faces Biggest Threat to Growth in 5 Years

Jinshan Hong, Bloomberg

New casino resorts in Japan and Vietnam are expected to be “stunning,” raising new questions about Macau’s future growth amid a huge dip in current performance from the trade war and Hong Kong protests.

3 days ago

MGM on Hunt for Investor to Join Las Vegas Property Venture

MGM on Hunt for Investor to Join Las Vegas Property Venture

Christopher Palmeri and Gillian Tan, Bloomberg

Like other hospitality companies, MGM is pivoting towards an asset-light model and has spent the last year or so preparing for an economic downturn. It should be in good shape if the worst happens.

1 month ago

Macau’s Gaming Revenue Falls in July Amid Hong Kong Protests

Macau’s Gaming Revenue Falls in July Amid Hong Kong Protests

Jinshan Hong, Bloomberg

An unexpected decline in Macau’s gaming revenues raises the question of whether Macau casinos can continue to hold up. Though arrivals had been strong, which helped boost mass-market betting, the Hong Kong protests seem to be a bummer going forward.

4 months ago

Caesars Landlord Provides $3.2 Billion to Help Fund Sale

Caesars Landlord Provides $3.2 Billion to Help Fund Sale

Christopher Palmeri, Bloomberg

Eldorado has turned itself into a pretty big name, after a few strategic deals. This upcoming Caesars acquisition will only emphasize its status.

6 months ago

Caesars Being Sold to Eldorado Resorts in $17.3 Billion Deal

Caesars Being Sold to Eldorado Resorts in $17.3 Billion Deal

Associated Press

After pushing for a Caesars sale earlier this year, billionaire investor Carl Icahn looks like he has gotten what he wanted.

6 months ago

Wynn Resorts Banks On International Gamblers at New Boston-Area Casino

Wynn Resorts Banks On International Gamblers at New Boston-Area Casino

Randall Williams, Bloomberg

Wynn Resorts is betting on overseas visitors, including Asian parents dropping off their children at Boston’s many colleges, to flock to its just-opened casino. Will a Vegas-style concept in the heart of New England work?

6 months ago

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?

7 months 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.

7 months 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.

7 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.

9 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.

10 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.

11 months ago