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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 […]
Industry
January 10, 2024
Detroit Casinos Post 2023 Results, Highlight a Slight Decrease in Revenue
The Michigan Gaming Control Board (MGCB) has published information about the financial performance of Detroit’s three casinos in 2023. According to the regulator, the properties reported а total monthly aggregate revenue of $116.2 million for December and а total yearly aggregate revenue of $1.237 billion for 2023. In December, $111.4 million of the total revenue […]
Industry
January 10, 2024
Atlantic City Police Union Asks for More Officers amid Rise in Homicides
Atlantic City is a casino and entertainment destination that is visited by nearly 30 million people annually. With a wide range of restaurants, hotels, casinos and entertainment options, the Boardwalk serves as the backbone of the city. Despite the available security cameras across Atlantic City, crimes are on the rise. As announced by the Press […]
Industry
January 10, 2024
Caesars May Divest Two Properties This Year, Suggests Analyst
Divestment of assets isn’t uncommon for gambling operators across the globe. If a certain digital asset is a burden or a specific property is underperforming, operators often explore a wide range of options, including potential sales or mergers. Currently, the leading gaming and entertainment company, Caesars Entertainment, has four casinos across Indiana. The list of […]
Industry
January 10, 2024
New Jersey Lawmakers Reintroduce Casino Smoking Ban
The battle over smoking in Atlantic City’s casinos continues as workers renew their efforts to secure a smoke-free workplace for themselves. For reference, New Jersey’s Smoke-Free Air Act exempts casinos from the indoor smoking ban, instead allowing them to dedicate up to a quarter of their gaming space as an indoor smoking area. While the […]
Business
January 10, 2024
Analyst Lowers Price Target on Caesars Stock Due to F1 Performance
In November, the Las Vegas Grand Prix, one of the much-anticipated events for Formula 1 fans, wrapped up. While the event attracted visitors from across the globe, its impact wasn’t as strong as initial expectations, at least for Caesars Entertainment. In a newly released report by CDC Gaming Reports, Joseph Greff, an analyst for J.P. […]
Casino
January 10, 2024
Norfolk Casino Developer Postpones Blueprint Presentation
In a recent twist for the much-anticipated HeadWaters Resort & Casino project in Norfolk, the Pamunkey Indian Tribe, along with their casino development team, has opted to delay the presentation of their latest plans until January 22. Norfolk Mayor Unaware of Latest Casino Proposal Issues Casino spokesperson Jay Smith stated in an emailed communication that […]
Casino
January 10, 2024
Altercation Over Slot Machine Leads to Senior’s Arrest in Vegas Casino
In a bizarre incident at the Orleans Hotel and Casino, a 70-year-old man named Mitchell Graham was apprehended after an altercation over a casino slot machine allegedly resulted in a stabbing with a steak knife. Graham Faces Legal Consequences After New Year’s Eve Incident The incident took place on the morning of New Year’s Eve, […]
