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Business
April 11, 2025
Mohegan Takes New Refinancing Step, Issues $1.2BN Secured Notes
The owner, developer, and manager of premier entertainment resorts in the U.S. and Canada, Mohegan Tribal Gaming Authority, has taken a major step toward a more complex financial restructuring plan by issuing $1.2 billion in new secured notes. New Refinancing Efforts This move marks the beginning of a series of refinancing efforts that will include […]
Business
April 11, 2025
Publishers Clearing House Goes Bankrupt, Starts Digital Shift
Publishers Clearing House (PCH), the well-known sweepstakes company famous for its TV prize giveaways and big checks, has filed for Chapter 11 bankruptcy to change its business strategy. The Jericho, New York-based firm plans to move away from its old reliance on direct mail and catalog marketing to focus on digital ads and entertainment instead. […]
Industry
April 10, 2025
Portnoy Banked on Trump for a Stock Market Win
David Portnoy, the founder of Barstool Sports, is relieved that President Trump delivered the financial “victory” that the sports betting businessman was hoping for. Portnoy Says Trump Is Playing a “Hight-Stakes Game” David Portnoy has been an avid supporter of President Donald Trump, whose recent introduction of new tariffs has sent shockwaves across businesses in […]
Industry
April 10, 2025
Philippines Posts 2024 Industry Report, Highlights Record GGR
The Philippine Amusement and Gaming Corporation (PAGCOR) published information about the local gaming industry’s performance in 2024, outlining record-breaking gross gaming revenue for the period. Philippine Gaming Is Still Growing In its official release, the PAGCOR said that the Philippine gaming industry’s GGR for 2024 stood at PHP 372.33 billion ($6.5 million), marking a staggering […]
Business
April 10, 2025
Fertitta Doubles Down on Wynn Stake Amid New Trump Tariffs
In a move that now looks timed to perfection, billionaire Tilman Fertitta has quietly doubled down on his investment in Wynn Resorts (NASDAQ: WYNN), strengthening his position as the largest individual shareholder of the company. Ferttita Now Owns 13% of Wynn Resorts According to recent filings with the Securities and Exchange Commission (SEC), Fertitta, who […]
Business
April 10, 2025
Room Tax Revenue Expected to Decrease in Las Vegas
Amid the recently imposed tariffs by the United States that have the potential to spill into a global trade war, tourism across the country may be impacted. In particular, the recent tariffs imposed on Canada and Mexico, are raising concerns for the tourism industry in Las Vegas. Tariffs May Impact US GDP and Tourism The […]
Business
April 9, 2025
Macquarie Experts Warn of Macau Casino Market Shifts
Late in March, law enforcement in Macau raided a total of eight jewelry shops over suspicion of illegal currency exchange activities. The authorities suspected nearly a dozen people of moving massive sums of $74 million with the help of the jewelry shops that served as a front. Overall, several dozen people, suspected of being involved […]
Business
April 8, 2025
AC Casino Operators Report Dip In Revenue but Post Profits
The New Jersey Division of Gambling Enforcement (DGE), the state’s gambling regulator, released its latest financial data, highlighting the performance of casino operators for the fourth quarter and full year 2024. While licensees reported a dip in their net revenue for the year and a decrease in hotel occupancy, all operators were profitable. Net Revenue […]
Business
April 7, 2025
Star Entertainment Accepts Bally’s AU$300M Rescue Deal
Australia’s embattled casino operator, Star Entertainment Group, received a lifeline from Bally’s Corporation early last month. At the time, the latter company proposed AU$250 million ($158 million) to help the former and become a major shareholder. The announcement came after Star failed to disclose its six months results for the period ended December 31, 2024, […]
Industry
April 7, 2025
Gold Card to Replace Visa Program That Built Vegas Casinos
President Donald Trump has another immigration initiative on his table. Under the name “Gold Card,” the flashy, high-dollar program would be used to offer an alternative to the current green card system. “For $5 Million, This Could Be Yours” The big reveal was made aboard Air Force One. The former casino owner, who may get […]
