Industry
September 17, 2024
Weak Sports Betting Offsets New Jersey’s Strong Casino & iGaming Results in August
The New Jersey Division of Gaming Enforcement published its latest gaming revenue report, outlining the performance of the state’s gambling industry in August. The New Jersey industry’s metrics continued to grow as most verticals posted strong results. Sports betting, on the contrary, experienced a sharp decline. The Overall Revenue Increased Slightly The local casinos, racetracks […]
Industry
September 16, 2024
Brazilian Banks Call for Accelerated Ban on Credit Card Betting
Brazilian Federation of Banks president Isaac Sidney demanded that the government accelerate the ban on using credit cards to pay for online bets. He underscored growing concerns over problem gambling and increasing defaults in the coming months as the country awaits the full implementation of gambling regulations set to take effect in January 2024. The […]
Business
September 16, 2024
Playtech Revises Strategic Deal with Caliplay for Further Growth
The 1999-founded leading technology company in the gambling industry, Playtech, has announced inking a revised strategic agreement with Caliente’s subsidiary, Caliplay, a leader in the regulated Mexican online casino and sports betting market and its largest client. The news of the amended terms of the strategic agreement comes after the two parties were embroiled in […]
Business
September 13, 2024
Wynn Stock Deserves More Credit for UAE and Macau, Suggests Analyst
Amid fears about China’s weak economic outlook, some investors were quick to dismiss Macau and Chinese stocks such as Wynn Macau. The stocks of the company’s parent, Wynn Resorts, have also seen a decrease on a year-to-date basis. Stifel Analyst, Optimistic About Wynn Resorts’ Stocks Still, an expert analyst remained optimistic about Wynn Resorts, especially […]
Business
September 12, 2024
The Star Entertainment to Receive $100M from Lenders
The Star Entertainment Group is set to receive more backing from its lenders amid the financial trouble it faces. The Australian casino and hospitality giant has been offered AUD 150 million to deal with the issues and stabilize its business. The Star Entertainment Is Struggling Financially The lenders proposed providing AUD 150 million ($100 million) […]
Business
September 12, 2024
Fox Reportedly Aims for FanDuel Stake at $2.2bn Below Value
Several years ago, in 2020, the leading gaming and entertainment company, Flutter Entertainment, purchased The Stars Group. This created a connection between the former and Fox Corporation, one of the world’s leading and most valued mass media companies in America. Through this legal connection, Fox secured an option to purchase a stake in FanDuel, Flutter’s […]
Business
September 11, 2024
Wynn Issues $800M Debt to Redeem Bonds, Pay DOJ Settlement
Last week, the leading gaming and hospitality operator, Wynn Resorts, announced that it has reached a settlement with the US Department of Justice (DOJ). Under the settlement, the company’s subsidiary, Wynn Las Vegas, agreed to forfeit a record $130 million to settle alleged financial offenses. Now, Wynn announced the pricing of $800 million in senior […]
Business
September 9, 2024
Betsson May Fuel Strategic Realignment with Three €100M Bonds
Stockholm-listed operator Betsson AB announced it is considering issuing new EUR-denominated senior unsecured bonds with a three-year tenor. The potential issue, valued at EUR 100 million ($110.46 million) under a framework of EUR 250 million ($276.15 million), comes as part of the company’s broader financial strategy to refinance outstanding bonds and support general corporate purposes […]
Business
September 5, 2024
Star Entertainment’s Financial Woes Deepen despite Queens Wharf Opening
The troubles for The Star Entertainment, Australia’s leading casino operator, continue after its recent suspension from trading on the ASX, the country’s primary stock exchange. The unexpected move came after the operator missed the deadline to submit a financial report last week. The announcement came just after the company opened its new venue in Queensland, […]
Business
September 4, 2024
MGM Resorts Raises Debt Sale to $850M from $675M
The global gaming and entertainment company that offers best-in-class hotels and casinos, MGM Resorts International, announced it decided to increase its debt sale from $675 million to $850 million. In a statement on Thursday, the company confirmed that it plans to raise more money through debt than initially expected. As a result, MGM confirmed it […]
