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Industry
January 12, 2024
Life Coach and Advisor Gambles with Investors’ Money, Goes to Jail
A person who presented himself as a financial advisor and a life coach in Las Vegas was sentenced to one year in prison after allegedly using investment money for gambling. As announced by KLAS, Rodney Buckle, 66, was sentenced this week Thursday by Clark County District Court Judge Jasmin Lilly Spells. His punishment is one […]
Industry
January 12, 2024
Congressional Leaders Aim to Combat Gambling Addiction with GRIT Act
In a landmark move to address the growing concern of gambling addiction in the United States, Sen. Richard Blumenthal of Connecticut and Rep. Andrea Salinas of Oregon introduced the Gambling Addiction Recovery, Investment, and Treatment (GRIT) Act on January 11. Rising Gambling Addiction Rates Prompt NCPG Endorsement of GRIT Act With an estimated 7 million […]
Legal
January 11, 2024
Alabama House Republicans Talk about Upcoming Gambling Bill
Earlier in the week, members of the Alabama House Republican party met for talks behind closed doors. One of the topics on their agenda was the gambling bill that GOP lawmakers are planning to introduce for the upcoming annual legislative session that will be held in less than a month. “It’s Simply the Wild West” […]
Business
January 11, 2024
GLPI Is Optimistic about M&A Opportunities in 2024, Analyst Says
Gaming and Leisure Properties Inc. (GLPI) is projecting a better environment for M&A activity in 2024. An analyst discussed the matter following a conference call with GLPI’s leadership. As reported by CDC Gaming Reports, Barry Jonas, an analyst at Truist Securities, told investors that GLPI has a balance sheet flexibility that will provide it with […]
Industry
January 11, 2024
Tribal Gambling Expansion Once Again a Hot Topic in Maine
Currently, Maine’s federally recognized tribes hold exclusive rights to sports betting. The state launched its legal betting market back in November last year, yet tribes continue their efforts toward the expansion of gambling in the state. On Wednesday this week, Maine’s Veteran’s and Legal Affairs Committee, heard details regarding three bills that propose the expansion […]
Casino
January 11, 2024
Two Eastern Shawnee Tribe Casinos Experience Data Security Incidents
Two of the Eastern Shawnee Tribe of Oklahoma’s properties, namely the Indigo Sky Casino and Resort and Outpost Casino, have experienced data security incidents in December. In relation to that, the two gambling venues are now notifying customers whose personal data might have been compromised. The issue was first discovered by Indigo Sky, which discovered […]
Business
January 11, 2024
Genting Malaysia Confirms Plans to Inject $100M into Empire Resorts
In an unexpected move, the leading leisure and hospitality business, Genting Malaysia Berhad (GENM), announced its plans to inject some $100 million into Empire Resorts, one of its US-facing subsidiaries. Details regarding the newly proposed investment emerged on Wednesday, January 10, 2024, in a filing with the Bursa Malaysia Securities by the company. Upon announcing […]
Casino
January 11, 2024
S&P Warns of Financial Risks for Bidders in New York Casino Permit Race
As the race for New York City casino permits intensifies, potential operators find themselves facing a high-stakes gamble not only for the coveted licenses but also in terms of financial risk. A recent report from financial analysts at S&P Global Ratings suggests that successful bidders may find themselves shouldering substantial debt burdens. Major Players Vie […]
Casino
January 11, 2024
Caesars Entertainment Under Analyst Scrutiny as Ratings Diverge
Caesars Entertainment has become a focal point for stock analysts as differing opinions on the company’s future trajectory emerge. JMP Securities Bullish on Caesars with a $65.00 Price Target JMP Securities initiated coverage on January 9, offering an “outperform” rating and setting a $65.00 price target on the stock, reported financial news media outlet Marketbeat. […]
Legal
January 10, 2024
IPI Loses All Hope as Supreme Court Denies Appeal
Imperial Pacific International (IPI) faced another crippling blow on Monday as the US Supreme Court rejected its petition, upholding the Ninth Circuit’s previous ruling regarding the case. This decision allows the Commonwealth Casino Commission (CCC) to proceed with the revocation hearing concerning IPI’s casino license and will likely spell the end for Imperial Palace Casino […]
