#Apollo Global Management

The Nevada Independent

Indy Gaming: Vegas set to prosper in ‘fun economy,’ UNLV experts say

Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. If a colleague or associate emailed this newsletter to you, please to sign up and receive your own copy of Indy Gaming in your inbox. - Howard Stutz The term "fun economy" might sound cheesy,…
Industry
Indy Gaming: Vegas set to prosper in ‘fun economy,’ UNLV experts say
Card Player

Mark Cuban Selling Majority Stake In NBA Mavericks To Las Vegas Sands Corp.

A major Las Vegas casino group may be getting into the basketball business. News broke on Tuesday that Mark Cuban is selling a majority ownership stake in the Dallas Mavericks to the Las Vegas Sands Corporation. The deal would still leave Cuban running basketball operations for the NBA franchise, while adding a partner that he's long sought to…
Tournaments
Mark Cuban Selling Majority Stake In NBA Mavericks To Las Vegas Sands Corp.
Wild Casino
Review Journal

Palazzo opens new high limit gaming lounge

A new high-limit gaming lounge at The Palazzo has opened, highlighting some of the resort's renovations at the same time as it is seeing increased foot traffic from the neighboring Sphere. The 15000-square-foot gaming lounge has two distinctive spaces, separating the 18 table games and 67 slot machines. "We designed our high-limit lounge with the…
Industry
Palazzo opens new high limit gaming lounge
8 News Now

Outage affecting several slot machines reported at Venetian on Las Vegas Strip, not cyber-related, officials say

LAS VEGAS (KLAS) - Guests at a Las Vegas Strip resort reported that several slot machines were out of service Friday. This comes as MGM Resorts International experiences a massive cybersecurity attack that has impacted its properties. On Friday evening, it was reported that several slot machines were out of order or requiring a cash payout at the…
Land-based
Outage affecting several slot machines reported at Venetian on Las Vegas Strip, not cyber-related, officials say
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The Nevada Independent

Indy Gaming: Aristocrat believes line of NFL slot machines will score a touchdown

Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. If a colleague or associate emailed this newsletter to you, please to sign up and receive your own copy of Indy Gaming in your inbox. - Howard Stutz One of the features on new NFL-themed slot…
Industry
Indy Gaming: Aristocrat believes line of NFL slot machines will score a touchdown
The Nevada Independent

Indy Gaming: Boyd has no interest in selling downtown, locals casinos to REITs

Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. If a colleague or associate emailed this newsletter to you, please to sign up and receive your own copy of Indy Gaming in your inbox. - Howard Stutz Boyd Gaming had a simple message to real…
Industry
Indy Gaming: Boyd has no interest in selling downtown, locals casinos to REITs
Review Journal

Las Vegas casino landlord Vici Properties owns 660 acres

After completing more than $20 billion in deals recently, casino landlord Vici Properties now owns several hundred acres along the Strip, "the most economically productive street in the world," the firm said Thursday. Vici, whose real estate holdings on Las Vegas Boulevard include megaresorts MGM Grand, Caesars Palace and The Venetian, this…
Land-based
Las Vegas casino landlord Vici Properties owns 660 acres
Review Journal

6 biggest casino deals on the Las Vegas Strip in 2022

A number of casino operators changed up their real estate portfolio this year with sales, acquisitions and leasebacks - showcasing a flurry of activity after the short but steep economic fallout caused by the COVID-19 pandemic. And a number of those deals, announced last year, have closed in 2022. Here are six of this year's major deals on the…
Industry
6 biggest casino deals on the Las Vegas Strip in 2022
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The Nevada Independent

Indy Gaming: Research gives AGA ammunition in fight with illegal gambling operations

Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. If a colleague or associate emailed this newsletter to you, please to sign up and receive your own copy of Indy Gaming in your inbox. - Howard Stutz American Gaming Association CEO Bill…
Industry
Indy Gaming: Research gives AGA ammunition in fight with illegal gambling operations
The Street

Iconic Las Vegas Strip Resort To Get $1 Billion Upgrade

Built in 1999, the Venetian Las Vegas isn't one of Sin City's oldest resorts, by any means--though it certainly is one of the biggest, as it boasts 36 stories and is more than 475 feet. It also houses the world's second-largest hotel, and a 200000-square-foot casino. So yeah, it's pretty big. But now that the Apollo Global Management (APO) has…
Land-based
Reuters

Exclusive: Inspired Entertainment in bid to buy slot machine maker PlayAGS

Aug 12 (Reuters) - Gaming equipment provider Inspired Entertainment (INSE.O) has made a $370 million offer to acquire slot machine maker PlayAGS Inc (AGS.N), people familiar with the matter said on Friday. Inspired has offered $10 per share in cash to acquire PlayAGS, the sources said. PlayAGS shares had ended trading on Thursday at $6. They jumped…
Covid
Finsmes

888 Holdings Sells Bingo Branch to Broadway Gaming

Leading British gambling operator 888 Holdings recently confirmed the sale of its bingo business to Broadway Gaming Group. After completing a strategic review of bingo, 888 agreed a $50 million deal for one of the biggest bingo sites UK including its exclusive technology, assets and consumer-facing brands. 888's bingo business currently operates on…
Bingo
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Vegas Inc

Some of Las Vegas' big gaming companies want a bite of the Big Apple

NEW YORK - With the latest edition of the New York Post in one hand and a beer in the other, George Miller fumbled for a betting slip he feared might have been blown away on a blustery day at a racetrack parking lot on the outskirts of New York City. A Long Island resident, Miller likes to come to the Aqueduct Racetrack in Queens to play the…
Gaming Authorities
Some of Las Vegas' big gaming companies want a bite of the Big Apple
Gambling Insider

Kambi signs deal with Great Canadian Entertainment

Supplier Kambi has announced a multi-year deal with Apollo Global Management-owned Great Canadian Entertainment. As per the agreement, Kambi will provide its on-property sportsbook to 10 of the operator's casinos in the recently regulated province of Ontario. The newest land-based casino, Pickering Casino Resort, is also among the casinos that will…
Industry
Kambi signs deal with Great Canadian Entertainment
Review Journal

Weeklong Macao casino shutdown affecting Sands, MGM, Wynn begins

Macao casino resorts closed their doors Monday as a weeklong government-ordered shutdown began in the region, taking a toll on properties including several operated by three Las Vegas-based companies. Because of elevated COVID-19 case numbers, Macao Secretary for Administration and Justice Andrew Cheong Weng Chun on Saturday ordered a closure of…
Covid
The Nevada Independent

Indy Gaming: Slot companies’ proposed merger briefly fires up investors

Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. If a colleague or associate emailed this newsletter to you, please to sign up and receive your own copy of Indy Gaming in your inbox. - Howard Stutz The investment community was abuzz earlier…
Finance
Indy Gaming: Slot companies’ proposed merger briefly fires up investors
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Cision

Casino negotiations likely to go down to the wire

TORONTO, July 22, 2022 /CNW/ - Most secondary issues have been resolved in productive discussions with Great Canadian Gaming Corporation (GCGC) on Thursday, but the most challenging negotiations are underway today, says Unifor. "Unifor bargaining committees for eight casinos worked hard on Thursday to finalize many outstanding issues, paving the…
Travel
Casino negotiations likely to go down to the wire
This Is Money

888 Holdings shares plummet as online gambling is hit by slowdown

888 Holdings shares plummeted on Friday after the gambling group revealed a massive drop in profits. Pre-tax profits at the Gibraltar-based business tumbled by two-thirds to £14.4million in the first half of 2022 as loosening Covid restrictions and stricter safety measures led to a decline in Britons gambling online. Profits were also dented by…
Sports
888 Holdings shares plummet as online gambling is hit by slowdown
Review Journal

Nevada’s casino industry donates to both gubernatorial candidates

The gaming industry is playing both sides in the Nevada governor's race, donating hundreds of thousands of dollars to both incumbent Democratic Gov. Steve Sisolak and his Republican challenger, Joe Lombardo, state campaign finance reports show. Between his campaign and his largest political action committee, Sisolak is taking the most from casinos…
Industry
Nevada’s casino industry donates to both gubernatorial candidates
Review Journal

Hedging their bets: Casino industry donates to both gubernatorial candidates

The gaming industry is playing both sides in the Nevada governor's race, donating hundreds of thousands of dollars to both incumbent Democratic Gov. Steve Sisolak and his Republican challenger, Joe Lombardo, state campaign finance reports show. Between his campaign and his largest political action committee, Sisolak is taking the most from casinos…
Industry
Hedging their bets: Casino industry donates to both gubernatorial candidates
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Review Journal

Sands casinos among properties that will be allowed to reopen Saturday morning

Las Vegas Sands Corp., operators of casinos in Macao and Singapore, reported tepid second-quarter revenue results Wednesday as health restrictions in Macao continued to batter resort operators there. The Las Vegas-based casino company reported a loss of $440 million, 38 cents a share, on revenue of $1.045 billion for the quarter that ended June 30.…
Covid
Sands casinos among properties that will be allowed to reopen Saturday morning
Gambling

Canadian Casino Workers Could Go On Strike Friday

Unifor members will strike across eight Great Canadian Gaming Corporations if new agreements are not negotiated by midnight on Friday, according to the union representing the workers. " employers have bounced back following the pandemic-related closures," Lana Payne, Unifor National Secretary-Treasurer, said in a statement. "Our goal at the…
Travel
Canadian Casino Workers Could Go On Strike Friday
World Casino News

Strike imminent at eight Great Canadian Gaming Corp. casinos

Great Canadian Gaming Corp. has yet to reach a new agreement deal with unionized casino workers. Employees are ready to strike if a new deal is not reached by this Friday. Over 2000 union members agreed that a strike should take place if an agreement is not made. This affects eight casinos in Ontario. Until Midnight The company has until midnight…
Covid
Strike imminent at eight Great Canadian Gaming Corp. casinos
Global News

Staff at 8 Ontario casinos set to strike if new work agreement not reached by July 22

casinos in Ontario have voted to strike if a new agreement can't be reached by Friday. According to Unifor, workers at eight casinos run by the Great Canadian Gaming Corp. will strike if a deal isn't reached by midnight. Among the issues are wages, benefits, pensions for staff working at table games, slots, security, cashiering, food and beverage,…
Travel
Staff at 8 Ontario casinos set to strike if new work agreement not reached by July 22
New Jersey Online Gambling

Macau Casinos Get $1.5 Billion in Loans from Wynn and LVS

Two Macau casinos received large loans from their US parent companies, helping them weather the latest COVID shutdown. Although, it may be US gamblers and shareholders who pay the price in the end. Last month, Wynn Resorts provided a $500 million revolving loan to Wynn Macau. Meanwhile, Las Vegas Sands loaned Sands China $1 billion. The US casino…
Gaming Authorities
Macau Casinos Get $1.5 Billion in Loans from Wynn and LVS
Review Journal

Cosmopolitan Las Vegas exec Patrick Nichols named CEO of The Venetian

An executive at The Cosmopolitan of Las Vegas is returning to The Venetian to become president and CEO, replacing longtime leader George Markantonis. Patrick Nichols, who began working at The Venetian and has been a Las Vegas hospitality executive his entire career, was named the property's top executive Thursday by New York-based investment firm…
Industry
Cosmopolitan Las Vegas exec Patrick Nichols named CEO of The Venetian
The Nevada Independent

Indy Gaming: ‘Economic challenges’ keeping five Clark County casinos closed into 2023

Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. If a colleague or associate emailed this newsletter to you, please to sign up and receive your own copy of Indy Gaming in your inbox. - Howard Stutz Five Southern Nevada casinos that never…
Lottery
Indy Gaming: ‘Economic challenges’ keeping five Clark County casinos closed into 2023
Review Journal

Macao gaming revenue slumps by 68 percent in May

On the day Chinese authorities lifted COVID-19 restrictions in Shanghai, Macao's Gaming Inspection and Coordination Bureau reported another steep decline in gross gaming revenue for the month of May. The bureau that monitors gaming revenue for Macao's 41 casinos - including several owned and operated by three Las Vegas-based companies - reported…
Finance
Macao gaming revenue slumps by 68 percent in May
Hindustan Times

Gambling Firms Face Concerns Over Kids Playing Virtual Reality Poker

During a round of poker in a virtual reality casino earlier this month, one player at the table was berated with sexually explicit language. The player, dressed in a purple top and a white anime-style haircut, was highly likely to be a child, based on their voice and their reaction to the abuse. While playing rounds of Texas hold'em, a Bloomberg…
Poker
Gambling Firms Face Concerns Over Kids Playing Virtual Reality Poker
Gambling News

Las Vegas Sands Invested into StreamLayer's VEOS Platform

US casino giant Las Vegas Sands (LVS) made a strategic investment into StreamLayer to fund ongoing efforts to improve the operator's Video Engagement Operating System (VEOS) and introduce innovative sports betting features. StreamLayer, a company founded in 2018 in Chicago, Illinois, provides an audience engagement platform on B2B basis to help…
Sports
Las Vegas Sands Invested into StreamLayer's VEOS Platform
Northern Nevada Business Weekly

Caesars spinoff VICI closes on big Vegas Strip property deal

FILE - A plane takes off from Harry Reid International Airport near casinos along the Las Vegas Strip, on Sept. 29, 2021, in Las Vegas. Caesars Entertainment spinoff VICI Properties said April 29, 2022, that it completed its $17.2 billion buyout of MGM Growth Properties, the Las Vegas Review-Journal reported. The deal was first announced last…
Travel
Caesars spinoff VICI closes on big Vegas Strip property deal
The Street

Las Vegas Strip: Unusual Opportunity to Party Hearty Returns

In Las Vegas, the party does not always wait until the sun goes down. Sin City has become a premier destination for day clubs -- nightclub-like parties held during the day -- so you can party while it's still light out. That's a concept that likely does not work anywhere else in the world. People who visit Las Vegas want to have fun, and in many…
Land-based
Las Vegas Strip: Unusual Opportunity to Party Hearty Returns
The Street

Las Vegas Strip Casinos Face a New Downtown Rival (With a Plan)

Las Vegas may seem like a city of endless parties, but it's actually driven by business. Sure, lots of people visit Sin City just for fun, but an awful lot of Vegas tourism comes from trade shows, business meetings, and other work gatherings. Those business reasons give people an excuse to go to Las Vegas, and they're huge drivers for Caesars…
Land-based
Las Vegas Strip Casinos Face a New Downtown Rival (With a Plan)
Star Advertiser

Las Vegas Advisor: New owners in place at Las Vegas strip casinos

The $6.25 billion sale of the Venetian and Palazzo by Las Vegas Sands Corp. to Apollo Global Management and VICI Properties, has closed. It marks the end of Sands' presence in Las Vegas, at least for now. The company is directing its attention toward its resorts in Macau, Singapore, and Pennsylvania, while targeting other jurisdictions in the…
Land-based
Las Vegas Advisor: New owners in place at Las Vegas strip casinos
Review Journal

Las Vegas gaming equipment manufacturer PlayAGS narrows losses in fourth quarter

PlayAGS Inc. is hoping to build on the successful conclusion of 2021 and its narrowing of losses, the company's top executive said Thursday. "If 2020 was the year of resiliency within our business, 2021 was the year of transition," said PlayAGS President and CEO David Lopez. "Supported by the foundational changes put into place over the preceding…
Finance
Las Vegas gaming equipment manufacturer PlayAGS narrows losses in fourth quarter
Review Journal

Optimism high among casino execs during Las Vegas investor forum

Nevada-based casino companies are poised for a strong 2022, judging by the upbeat comments from executives during an investment forum this week at Wynn Las Vegas. Casino executives said business is approaching or surpassing pre-COVID-19 levels, many companies are showing favorable group business calendars and leisure visitors continue to crowd…
Finance
Optimism high among casino execs during Las Vegas investor forum
The Nevada Independent

Indy Gaming: Three years later, no action in D.C. to raise jackpot tax threshold

Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. If a colleague or associate emailed this newsletter to you, please to sign up and receive your own copy of Indy Gaming in your inbox. - Howard Stutz Congressional representatives and the…
Winnings
Indy Gaming: Three years later, no action in D.C. to raise jackpot tax threshold
New Jersey Online Gambling

Casino Roundup: Crown Buyout, Wynn Leaseback and Sands Junk Rating

Crown Resorts accepted a $8.9 billion buyout bid from Blackstone, a private equity firm. Just days after the news, the Australian casino company r eported a $141 billion loss for the last six months of 2021. In other casino news, a credit agency cut Las Vegas Sands' debt rating, while Wynn Resorts negotiated its first real estate sale. It's a tough…
Gaming Authorities
Casino Roundup: Crown Buyout, Wynn Leaseback and Sands Junk Rating
The Street

Iconic Las Vegas Strip Casino Has New Owner with a Dodgy Past

Las Vegas has always been about failure and redemption. You can lose it all one night and make it back the next with a lucky roll of the dice or a magical spin of the roulette wheel. That's, of course, the idealized way to view Sin City. Everyone remembers their big wins more than they do their crushing losses. The reality, however, is that in the…
Land-based
Iconic Las Vegas Strip Casino Has New Owner with a Dodgy Past
GGRAsia

Regulator okays Apollo acquisition of LVS ops in Nevada

The Nevada Gaming Commission has approved the acquisition by private equity firm Apollo Global Management Inc of the operations of the Las Vegas Strip properties owned by casino firm Las Vegas Sands Corp. The regulator voted 4-0 to approve Apollo Global Management as the operator of the Venetian Resort Las Vegas, Palazzo and the Sands Expo and…
Industry
Regulator okays Apollo acquisition of LVS ops in Nevada
The Street

Another Iconic Las Vegas Strip Casino Close to Big Changes

Las Vegas has seen its share of scoundrels and people of questionable morality own casinos. The city more or less rose to prominence as a mafia playground where backroom leg breakers and other shady characters once held the day. That influence subsided as major players including Caesars Entertainment (CZR) - Get Caesars Entertainment Inc Report and…
Land-based
Another Iconic Las Vegas Strip Casino Close to Big Changes
Gambling News

NGCB Approves Sales of Las Vegas Sands Properties to Apollo Global

Apollo Global Management is a step closer to returning to the Las Vegas Strip. The global investment firm has been targeting the gaming industry for years, but previous access to the Las Vegas casino scene didn't go well. Apollo is working on a deal with Las Vegas Sands (LVS) to purchase three of the latter's Vegas properties and has convinced the…
Gaming Authorities
NGCB Approves Sales of Las Vegas Sands Properties to Apollo Global
SBC Americas

LVS nears Las Vegas divestment amid $315m Q4 net loss

Las Vegas Sands has reported a slight 0.7% revenue decrease through 2021's final quarter to $1.01bn, which is largely due to a 5.8% drop to $651m (2020: $689m) in the group's casino division. Operating loss through the quarter ending December 31 came in at $138m compared to a loss of $119m in the prior year quarter, with net loss widening to $315m…
Covid
LVS nears Las Vegas divestment amid $315m Q4 net loss
Review Journal

Asian pandemic downturn leads Las Vegas Sands to stay patient

Las Vegas Sands Corp. executives will stay patient with their big investments in Macao and Singapore as the company prepares for its next phase of operations: one without Las Vegas resorts. Company leaders told investors during their fourth-quarter earnings call Wednesday that they'll stay the course in Macao, where it is the market leader, and go…
Covid
Asian pandemic downturn leads Las Vegas Sands to stay patient
Review Journal

Las Vegas’ top real estate deals of 2021

Like countless other cities, Las Vegas spent the past year grappling with the pandemic and recovering from the economic disaster it unleashed in 2020. It also saw a burst of lucrative casino sales on the Strip as tourism rebounded from the public health crisis. Here is my list of Las Vegas' top 10 real estate deals of 2021. 1. The Cosmopolitan of…
Land-based
Las Vegas’ top real estate deals of 2021
Review Journal

Losses by large companies show pandemic still affects Las Vegas

The theory gaming industry analysts hypothesized months ago appears to be holding true: Companies operating on the Strip and in Macao are struggling more than their regional counterparts. Third-quarter earnings reports wrapped up late last month and the numbers show there's still a way to go before we can say the pandemic is behind us, even as…
Covid
Losses by large companies show pandemic still affects Las Vegas
The Nevada Independent

How VICI Properties is quietly becoming landlord to the biggest casinos in Vegas

In the waning days of Caesars Entertainment's two-year bankruptcy reorganization, creditors struggled with a name for a new spin-off company taking ownership of 19 casinos that would control the land and lease the properties back to the operator. Consultants suggested Senatus Populusque Romanus, or SPQR, the term used for the government of ancient…
Travel
How VICI Properties is quietly becoming landlord to the biggest casinos in Vegas
Review Journal

Las Vegas Strip landlord Vici sees revenues rise in Q3

The soon-to-be largest landlord on the Strip believes there's never been a better time to be investing in Las Vegas. That's understandable excitement for a company that has inked real estate deals for Strip properties totaling more than $21 billion this year alone. "We were very excited from the day we started the company. We're even more excited…
Land-based
Las Vegas Strip landlord Vici sees revenues rise in Q3
Forbes

Blackstone To Sell The Cosmopolitan Of Las Vegas For $5.65 Billion

MGM Resorts International will acquire the operations of The Cosmopolitan, the luxury casino and hotel on the Las Vegas Strip, for $1.625 billion from private equity giant Blackstone. Both MGM and Blackstone announced the deal on Monday. The private equity firm's Blackstone Real Estate Partners VII LP is selling the hotel and casino's real estate…
Covid
Blackstone To Sell The Cosmopolitan Of Las Vegas For $5.65 Billion
Casino News Daily

Las Vegas Sands Pours $17mn into Florida Casino Expansion Effort

Las Vegas Sands, the Nevada-based major casino operator, is understood to have donated $17 million to a Jacksonville-based political committee that is behind two initiatives seeking to expand casino gambling in Florida. Florida Voters in Charge received the generous donation before a July 1 deadline set by a new law that caps contributions to…
Law
Las Vegas Sands Pours $17mn into Florida Casino Expansion Effort
World Casino News

Tom Horn online slots deal with 888casino

Casino software supplier Tom Horn Gaming has inked a distribution agreement with Gibraltar-based gambling company 888 Holdings (888:LN) for its digital domain 888casino, with the new partnership further expanding its distribution capabilities across new regulated markets. The new alliance will allow 888casino players to enjoy a range of the…
Industry
Tom Horn online slots deal with 888casino
Business Live

Online gambling group 888 to buy William Hill’s international operations

Online gambling company 888 Holdings is buying the international operations of bookmaker William Hill after seeing off rival bids from private equity. The deal gives the businesses an enterprise value of £2.2bn, according to a statement. Las Vegas casino giant Caesars Entertainment bought William Hill in April to secure its US assets and is selling…
Mobile
Online gambling group 888 to buy William Hill’s international operations
The Real Deal

Blackstone Shops Cosmopolitan Las Vegas for $5B

Blackstone is once again seeking a high roller to purchase the Cosmopolitan of Las Vegas, this time soliciting offers in excess of $5 billion for the 11 year-old resort casino. One potential suitor exploring an offer is Apollo Global Management, according to Bloomberg. MGM Resorts International is also reportedly looking to swoop in as a potential…
Travel
Blackstone Shops Cosmopolitan Las Vegas for $5B
Yogonet

Blackstone reportedly seeking to sell Cosmopolitan Las Vegas in $5B deal

lackstone is again offering the Cosmopolitan in Las Vegas for sale, with an asking price of $5 billion or more, according to sources cited by Bloomberg. The investment company initially bought the hotel and casino for $1.73 billion in 2014 from Deutsche Bank, which gained ownership through a crisis-related loan default in 2008. Since then,…
Travel
Casino News Daily

Blackstone Reportedly Looking to Offload Strip Casino for $5bn

New York-based private equity firm Blackstone is reportedly looking to snatch $5 billion for The Cosmopolitan of Las Vegas, according to the latest round of rumors regarding the glitzy Strip property's possible sale. In an article published Friday, Bloomberg has named Apollo Global Management and MGM Resorts International as potential…
Travel
Blackstone Reportedly Looking to Offload Strip Casino for $5bn
AP News

Casino giant MGM Resorts selling land to New York-based firm

LAS VEGAS (AP) - A New York-based real estate investment firm will emerge as the largest landholder on the Las Vegas Strip under a $17.2 billion property deal between landholding affiliates of casino giants Caesars Entertainment and MGM Resorts International. Combined, VICI Properties Inc. will end up with properties in 15 states. MGM Resorts…
Travel
Casino giant MGM Resorts selling land to New York-based firm
Market Watch

Casino giant MGM Resorts sells $17.2 billion worth of land to a New York-based firm

LAS VEGAS (AP) - A New York-based real estate investment firm will emerge as the largest landholder on the Las Vegas Strip under a $17.2 billion property deal between landholding affiliates of casino giants Caesars Entertainment CZR, -2.92% and MGM Resorts International MGM, -0.74% . Combined, VICI Properties Inc. VICI, -0.63% will end up with…
Travel
Casino giant MGM Resorts sells $17.2 billion worth of land to a New York-based firm
Casino News Daily

Entain Eyes William Hill’s Non-US Gambling Arm as New Acquisition Target

Gambling powerhouse Entain is mulling making a bid for William Hill's non-US assets which the British bookmaker's new owner, Caesars Entertainment Inc., is looking to offload. In a recent interview, Entain's CEO, Jette Nygaard-Andersen, said that they plan to look at William Hill's UK and European operations and possibly table an offer for…
Industry
Entain Eyes William Hill’s Non-US Gambling Arm as New Acquisition Target
Casino News Daily

Red Tiger Online Slots Now Live with Italy’s Lottomatica

Online casino games maker Red Tiger has expanded its Italian footprint with the recent roll-out of its online slots portfolio with local leader Lottomatica. As part of a supply deal between the studio and the major online casino and sports betting operator, Lottomatica's gaming platform is now offering a selection of Red Tiger's most popular gaming…
Sports
Red Tiger Online Slots Now Live with Italy’s Lottomatica
The Nevada Independent

MGM Resorts still the Strip’s largest casino operator, just not its biggest landowner

Nearly a decade ago, MGM Resorts International owned much of the Las Vegas Strip. The company controlled more than 800 acres along the resort corridor, much of which housed 10 Strip resorts, the 67-acre CityCenter complex, a 33-acre concert venue and 23 acres that became The Park dining and retail space and T-Mobile Arena. "It's a good time to be…
Travel
MGM Resorts still the Strip’s largest casino operator, just not its biggest landowner
Review Journal

Revenue rebounds, losses narrow for Las Vegas Sands Corp.

Las Vegas Sands Corp. has begun riding the rebound from the coronavirus pandemic, reporting improved second quarter revenue and narrowed losses on Wednesday. The company reported second quarter net loss of $139 million, 30 cents per share, on revenue of $1.173 billion in the quarter that ended June 30. That compares with a net loss of $757 million,…
Finance
Revenue rebounds, losses narrow for Las Vegas Sands Corp.
Vegas Slots Online

Las Vegas Sands to Invest in Digital Gaming Technologies

As part of a new strategy, Las Vegas Sands has announced plans to create a team which will focus on investment in digital gaming technologies. [Image: Shutterstock.com] US-based casino giant Las Vegas Sands (LVS) is ready to put its weight behind digital gaming. The operator has announced that it will become a strategic investor in digital gaming…
Covid
Las Vegas Sands to Invest in Digital Gaming Technologies
Review Journal

New Las Vegas Sands digital gaming investment to be led by Davis Catlin

Las Vegas Sands Corp. is investing in digital gaming technologies focused in business-to-business transactions. The company on Monday announced it is building a digital gaming investment team to be led by Davis Catlin, joining Las Vegas Sands after spending 14 years with Sands Capital Management in Arlington, Virginia.That company is unrelated to…
Incidents
New Las Vegas Sands digital gaming investment to be led by Davis Catlin
Casino News Daily

Advent Said to Be Eyeing William Hill’s Non-US Gambling Assets

US private equity firm Advent International is understood to have joined the race for William Hill's UK and European operations and is believed to be among the leading bidders. The company is vying against buyout rival Apollo Global Management and online gambling operator 888 Holdings, among others, in the bidding war for the bookmaker's non-US…
Industry
Advent Said to Be Eyeing William Hill’s Non-US Gambling Assets
The Motley Fool

Did This Casino's Big Bet on Asia Just Go Bust?

It was a bold move by Las Vegas Sands (NYSE:LVS) to abandon its namesake city in favor of going all-in on Asia. Earlier this year, it sold the operating company behind The Venetian, The Palazzo, and the Sands Expo and Convention Convention Center to Apollo Global Management for $2.3 billion, while real estate investment trust VICI Properties bought…
Covid
Did This Casino's Big Bet on Asia Just Go Bust?
Gambling News

Retrospective: A Look at Some of This Week’s Top Gambling Stories

This week brought a number of changes to the global gaming industry, although some could argue that not all of the changes were for the better. Looking back on some of the larger stories of the week, it's apparent that industry players are working hard to advance the market. However, not all of them are going about it the same way. There was once a…
Covid
Retrospective: A Look at Some of This Week’s Top Gambling Stories
St. Thomas Times - Journal

Elements Casino prepares for reopening

Some employees at Elements Casino have returned to work in anticipation of the province allowing the facility to reopen later this month. Chuck Keeling, executive vice president of stakeholders relations and responsible gambling for the Great Canadian Gaming Company, said on Monday that "core employees" have returned to work at the Brantford casino…
Covid
Elements Casino prepares for reopening
The Motley Fool

Las Vegas Sands May Have a Longer Road to Recovery Than Expected

The gambling industry is having an uneven recovery no matter where you are in the world. The U.S. market seems to be doing best with entertainment travelers coming back, driving regional casino revenue and weekend revenue in Las Vegas. But the lucrative corporate customers who have long driven mid-week revenue have been absent. We're seeing that…
Covid
Las Vegas Sands May Have a Longer Road to Recovery Than Expected
Casino Reports

Great Canadian Gaming Acquisition Faces Criticism

Great Canadian Gaming Corporation recently made an important announcement regarding its future, but there has been strong opposition soon after the news became public. Minority shareholders recently voiced their position when it comes to the CA$2.1-billion acquisition of the casino operator by a U.S. private equity firm. Apollo Global Management…
Industry
Great Canadian Gaming Acquisition Faces Criticism
Casino Reports

Casino New Brunswick Officially Relaunches Gaming

The last 12 months have not been kind on the gaming industry, with the closing down of all brick-and-mortar casino venues in the country due to unforeseen circumstances. New Brunswick has suffered as well with the closing of its casino which is under the Great Canadian Gaming's jurisdiction. Meaning that players were unable to place bets in their…
Lottery
Casino New Brunswick Officially Relaunches Gaming
Casino News Daily

Italian Gambling Giant Sisal Enters UK National Lottery Bidding War

Italian gambling operator Sisal, which runs the country's most popular lottery, has hopped into the race to operate UK's National Lottery. The Telegraph reported over the weekend citing unnamed sources that Sisal will lead a consortium that will seek to seize control of the National Lottery from its long-time operator Camelot. The consortium will…
Lottery
Italian Gambling Giant Sisal Enters UK National Lottery Bidding War
New Jersey Online Gambling

MGM's New CFO Had a Hand in Tanking Caesars

After two failed attempts to acquire online gambling partner Entain, MGM Resorts International named Jonathan Halkyard as its new chief financial officer Thursday. Presumably, MGM, parent company of online sportsbook BetMGM, brought Halkyard on for his experience in mergers and acquisitions in the wake of the rejection of the company's $11 billion…
Industry
MGM's New CFO Had a Hand in Tanking Caesars
The Washington Post

MGM Has Strong Hand in U.K. Online Gambling Bid

Gambling has been one of the few areas of online activity where the U.S. doesn't dominate. Now it's catching up. The latest attempt comes in the form of an $11 billion bid from MGM Resorts International for the U.K. owner of the Ladbrokes and Coral betting shop chains, Entain Plc. The market wants an even bigger price. That shouldn't be too hard to…
Travel