Articles tagged “casinos”

Godfather of Macau’s Rise Into a Gambling Destination, Stanley Ho, Dies at Age 98

Godfather of Macau’s Rise Into a Gambling Destination, Stanley Ho, Dies at Age 98

The Guardian, The Guardian

Stanley Ho's life was hardly a rags-to-riches story, but he nevertheless will be remembered for his enduring impact on modern gambling in China and Macau.

5 months ago

Coronavirus Closings Turn Mississippi County Dependent on Casinos Into a Ghost Town

Coronavirus Closings Turn Mississippi County Dependent on Casinos Into a Ghost Town

Adrian Sainz and Jay Reeves, Associated Press

Coronavirus heightened the vulnerabilities of tourism-based economies, but Tunica's problems were beginning well before the first outbreak.

5 months ago

Las Vegas Sands Bails on Integrated Resort Casino Plans in Japan

Las Vegas Sands Bails on Integrated Resort Casino Plans in Japan

Rocky Swift, Reuters

It looks like the high stakes that casino operators have to put into Japan's integrated resorts scene is too much of a gamble, especially in the post-pandemic climate which makes returns on tourism investment even more uncertain.

6 months ago

Blackstone Picks Up $360 Million Stake in Australia’s Crown Resorts From Melco

Blackstone Picks Up $360 Million Stake in Australia’s Crown Resorts From Melco

Rashmi Ashok, Reuters

Gaming companies are hard hit by the coronavirus pandemic, but Melco seems to be suffering more than others — if its latest money-losing deal with Blackstone goes to shows.

6 months ago

Coronavirus Takes a 80 Percent Bite Out of Macau’s Gaming Revenues in March

Coronavirus Takes a 80 Percent Bite Out of Macau’s Gaming Revenues in March

Farah Master, Reuters

Macau's casinos may have reopened but business is not as usual for these resorts. If there’s anything the coronavirus has shown, it’s that diversification is needed more than ever for the gaming enclave.

7 months ago

New Jersey May Make It Legal to Bet on Esports Events in Bid for Tourism Dollars

New Jersey May Make It Legal to Bet on Esports Events in Bid for Tourism Dollars

Wayne Parry, Associated Press

About a billion people worldwide will watch someone else play a video game this year, either online or in person. It makes sense for New Jersey and other destinations to try to cash in on the action.

8 months ago

It’s Game On Again in Macau as Casinos Reopen After Coronavirus Suspension

It’s Game On Again in Macau as Casinos Reopen After Coronavirus Suspension

Farah Master and Aleksander Solum, Reuters

With many livelihoods and millions in revenue at stake, gaming-dependent Macau can't afford to keep its casinos closed for too long. A progression of reopening casinos is probably the best the city can do now to restore normalcy.

8 months ago

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.

11 months 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.

12 months 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.

1 year 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.

1 year 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.

1 year ago