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Casino
May 13, 2020
Twin River Q1: Results Meaningfully Impacted by Casino Closures
Twin River Worldwide Holdings, Inc. issued today its first quarter financial results for 2020, with revenue significantly impacted by the shutdown of operations in mid-March, despite the excellent start of the year. Revenue Pre- and During Closure Revenue for the first two months was up 23.4%, to $90.3 million, as opposed to $73.2 million for […]
Casino
May 13, 2020
Rio 2011 Chip Heist Suspect Arrested by FBI in Los Angeles
The last of the three suspects from the famous Rio chips robbery, Steven Gao, is now arrested after fleeing to China and evading justice since 2011. Fleeing to China in 2011, Gao is Now Arrested Steven Gao, a suspect in a 2011 gambling chips robbery, was arrested in Los Angeles, FBI has announced. The Federal […]
Casino
May 12, 2020
MGM’s Seven-Point Safety Plan for Re-Opening of Its Properties
MGM Resorts International issued a comprehensive report today, outlining a list of health and safety protocols the casino operator is going to implement, in preparation for re-opening of its land-based gaming properties. The multi-layered set of mitigation measures, designed in conjunction with medical and scientific experts, is aimed at preventing the spread of the virus, […]
Casino
May 12, 2020
Eldorado CEO Says Merger on Track, Caesars Plans Reopening
Eldorado Resorts CEO Tom Reeg has expressed optimism about the pending merger between Caesars Entertainment Corp. and his company. Reeg commented that the $17.3 billion deal should be finalized by the end of June, as planned when the first was announced in 2019. The statement came during Eldorado’s earnings call on Monday, May 11, with […]
Casino
May 11, 2020
Pechanga Resort Casino Setting June 1 Target Re-Opening Date
One of the first tribal casinos that shut down operations in South California, Pechanga Resort Casino near Temecula , issued an update on its website informing its customers a target re-opening timeframe of June 1 has been set, with the actual date to restart gaming to be confirmed in the days ahead. California in Phase […]
Casino
May 11, 2020
Penn Boosts Liquidity through Common Stock and Senior Notes Public Offerings
Pennsylvania-based Penn National Gaming Inc announced today it started an underwritten public offering of common stocks, as well as an underwritten offering of convertible senior notes, to the amount of $250 million each. The new debt security the company is issuing has maturity in 2026 and can be converted into Penn’s common stock anytime until […]
Casino
May 11, 2020
Sweden’s Spelinspektionen Warns: Restrictive Rules to Strengthen Black Market
The proposed measures for deposit limits and session limits effectively restricting the Swedish market are still a hot topic. The country’s Gaming Authority tentatively takes the side of the providers. Sweden’s Proposed Restrictive Measures Faced with Contradiction Sweden’s plan for restrictive measures towards the online gambling market has proven a delicate topic. Announced back in […]
Casino
May 11, 2020
UK Gambling Suppliers Air Advertisements Instead of Social Responsibility Messages
Recent gambling adverts in the UK sparked a debate if the industry giants are not reneging on the promise to promote safer gambling messages. A Debate that Started in March Continues The saga concerning safer gambling advertisement practices began back in March. With the spread of the novel coronavirus (COVID-19) in the UK, the betting […]
Casino
May 11, 2020
LVS May be Considering the Acquisition of Wynn Resorts, Analysts Suggest
Las Vegas Sands (LVS) may be looking to acquire Wynn Resorts, an analysis by a boutique investment bank and advisory firm for the gaming industry suggests. Union Gaming LLC, in a note published Thursday overnight, cited Okada Manila in the Philippines, Australia-based Crown Resorts, and Wynn Resorts, all three as potential acquisition targets for the […]
Casino
May 11, 2020
Difficult Times for Connecticut, Foxwood Casino Announced Layoffs for Employees
The closure of Foxwood Casino and Mohegan Sun along with other businesses due to COVID-19 was a big hit for the State of Connecticut. Two months later both employees and employers are still trying to shake off the pandemic and re-start business. Foxwood Resort Casino Planning Layoffs The Foxwood Resort Casino was ordered to close […]