Genting Sells Underperforming Maxims Casino in London

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CoStar

US Hotel Deals: Apple Hospitality REIT Enters Las Vegas Market

This roundup features the latest hotel transactions in the U.S. hotel industry. Rooms: 122 Location: Houston Price, Including Debt: N/A Price Per Room: N/A Buyer: Transwestern Hospitality Group Seller: James A Cummins Jr. Date of Transaction: Dec. 22, 2023 Takeaway: THG is working with hospitality renovation specialist Ring on Hook to reposition…

Travel ・ 23 January 2024

Review Journal

Gaming Control Board recommends approval of Golden Entertainment slot route transaction

The Nevada Gaming Control Board on Wednesday recommended approval of the licensing of an Illinois company to take over the distributive gaming assets of Golden Entertainment Inc. that would make it the largest slot route operator in the country. Distributed gaming involves slot machine routes on which workers install, maintain and operate slot…

Law ・ 07 December 2023

The Nevada Independent

Sibella out as CEO of Resorts World Las Vegas, replaced by the property’s CFO

The CEO was cleared by gaming regulators in February after an investigation into possible wrongdoing. Now Resorts World says Sibella violated company policies. Resorts World Las Vegas President Scott Sibella, who took the helm of the unfinished Strip property in 2019 and helped steer the long-stalled $4.3 billion project to its June 2021 opening,…

Travel ・ 16 September 2023

Asgam

Potential resurrection of New York, Massachusetts casino developments bodes well for Genting Malaysia

Maybank Investment Bank said Sunday they could raise Genting Malaysia's long-term earnings estimates by as much as 74% following news that two key potential casino developments in the United States could be back on the menu. As per local news reports, the New York State Gaming Commission has now resumed the Request for Applications (RFA) process…

Gaming Authorities ・ 10 October 2023

Wild Casino

$5,000 Welcome Bonus

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Asgam

Genting Berhad seen lifting earnings in 2H23 on higher visitation to Singapore, Las Vegas casinos

Malaysia gaming giant Genting Berhad should enjoy improved sequential earnings in the second half of 2023 as visitation to its casinos in Singapore and Las Vegas improves on seasonality and major events, according to Maybank Investment Bank. In a note, Maybank analyst Samuel Yin Shao Yang said earnings should improve for the Genting group after…

Land-based ・ 28 August 2023

Yogonet

Genting reportedly eyeing $1B+ Miami site sale to fund NYC casino bid

A prominent waterfront Miami site put up for sale by Asian multinational Genting Bhd has received five offers above $1 billion, according to the broker, potentially setting a record for such property. The 6.3ha plot was formerly home to the Miami Herald newspaper and is one of the city's largest undeveloped parcels. Genting listed the site, now…

Finance ・ 29 March 2023

World Casino News

Unexpected runner enters the Macau casino licensing race

In Macau and a company linked to the boss of prominent Asian gambling operator Genting Malaysia Berhad has reportedly applied for one of the enclave's coming ten-year casino licenses. According to a report from Inside Asian Gaming, Macau is home to almost 40 casinos run by a sextuplet that encompasses MGM China Holdings Limited, Wynn Macau…

Law ・ 18 September 2022

World Casino News

Three more English venues for Genting Casinos UK Limited

In the United Kingdom and the local Genting Casinos UK Limited arm of Asian casino giant Genting Malaysia Berhad has announced the completion of its deal to purchase smaller counterpart Casino 36 UK Limited for an undisclosed amount. The Birmingham -headquartered subordinate used an official Monday press release to detail that it was already…

Travel ・ 25 August 2022

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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 ・ 24 August 2022

Review Journal

Station Casinos buys 126 acres south of Las Vegas Strip for $172M

Station Casinos has loaded up on more land in Las Vegas, completing a big purchase just days after it unveiled plans to demolish three shuttered hotels in Southern Nevada. The locals-focused casino operator acquired roughly 126 acres at the southwest corner of Las Vegas Boulevard and Cactus Avenue for $172.4 million. The sale, by developer Larry…

Land-based ・ 21 July 2022

Yogonet

Las Vegas Union asks Macau Govt. for land transaction records involving Genting and Treasure Island failed casino project

The International Union of Operating Engineers, Local 501 - which represents over 2000 members working in Las Vegas casinos- submitted a public record request regarding the land transaction involving Genting Group and Ao Mio Leong to the Land and Urban Construction Bureau (DSSCU). According to corporate filings, Mio Leongis one of a four-person…

Politics ・ 04 June 2022

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 ・ 12 May 2022

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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 ・ 04 January 2023

Yogonet

Encore Boston's record-breaking revenue drives Massachusetts casinos' $102M mark in March

As reported by the Massachusetts Gaming Commission, the state's three gambling centers had a good month during March according to the financial results for the period. Plainridge Park Casino, MGM Springfield and Encore Boston Harbor cumulatively generated more than $102 million in gaming revenue, about $28.6 million of which will be due to the…

Finance ・ 20 April 2022

News4Jax

Hard Rock International buying The Mirage operation in Vegas

LAS VEGAS - Hard Rock International said Monday it wants to see how a guitar-shaped hotel will play at the heart of the Las Vegas Strip. In what MGM Resorts International CEO and President Bill Hornbuckle called "a significant milestone for MGM Resorts and for Las Vegas," the companies announced MGM Resorts will sell operations of The Mirage to…

Travel ・ 14 December 2021

Yogonet

Resorts World Las Vegas sees first full quarter revenue results at $175M, still hit by Nevada's restrictions

As Genting issued its financial reports for the third quarter of 2021 on Thursday, much attention went to its $4.3 billion US flagship property, Resorts World Las Vegas, which posted its financial results for its first full quarter of operations since opening on June 24. The state-of-the-art casino posted revenue of $175 million and Adjusted EBITDA…

Travel ・ 26 November 2021

Forbes

Tycoon Lim Kok Thay’s Genting Malaysia To Inject $150 Million In U.S. Casino Operator Empire Resorts

Genting Malaysia -controlled by billionaire Lim Kok Thay -has agreed to inject a further $150 million into Empire Resorts to help the U.S.-based casino operator repay its debts amid signs gaming revenues are rebounding as pandemic-induced restrictions ease. The fresh capital injection sets the stage for Empire to implement its long-term financing…

Travel ・ 13 October 2021

London Post

Ranking the Best Casinos in London

21st century London is the playground of the rich and successful. London is the most spectacular and diverse city in the world with state-of-the-art restaurants, incredible museums, inspiring art galleries and of course the very best casino clubs. Although the latest James Bond film No Time To Die featured no gambling whatsoever, we are still…

Blackjack ・ 04 October 2021

Review Journal

Cosmopolitan sale the latest billion-dollar deal on Las Vegas Strip

The multibillion-dollar sale of The Cosmopolitan of Las Vegas has not only put the flashy, once-financially troubled resort in new hands. It also marks the latest in a string of hotel deals on the Strip between two powerhouse companies and another investment on Las Vegas Boulevard from the CEOs of fast-food chain Panda Express. New York financial…

Land-based ・ 27 October 2021

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 ・ 06 September 2021

Yogonet

The Indiana Gaming Commission approves Caesars Southern Indiana $250M sale

he Indiana Gaming Commission approved Wednesday, August 18 the sale of Caesars Southern Indiana casino to ECBI Holdings, a company run by the Eastern Band of Cherokee Indians tribe. Now cleared, the deal is expected to close at some point in the upcoming month. In December 2020, Caesars agreed to sell the casino to EBCI for $250 million. Caesars…

Gaming Authorities ・ 19 August 2021

Pursuitist

The Opening of One of the Largest Casinos in Las Vegas

The $4.3 billion complex in Las Vegas in now open with more than 40 restaurants to enjoy among the Strip resorts and in one of the biggest casino cities. This casino has been in works with the planning and building for more than seven years. Attracting all legal gambling age groups, this casino is expecting to attract many gambling enthusiasts from…

Gaming Authorities ・ 18 August 2021

SW Londoner

The best casinos in south west London

Gambling has been a super popular pastime in Britain since the 16th century when horse races began regularly running at Chester. The country's betting industry generates a gross gambling yield of £14.2 billion due to 32% of its population laying down at least one wager per week. Thus, the UK ranks as Europe's top gambling market, both on the…

Travel ・ 25 July 2021

Casino News Daily

Resorts World Las Vegas Fireworks Its Way into Strip's Casino Scene

Resorts World Las Vegas, the first new hotel and casino resort built on the Las Vegas Strip from the ground up in more than a decade, is now open. The $4.3 billion complex swung open its doors to welcome its first guests at 11pm on Thursday. The launch of the newest addition to the Strip's already bustling skyline had all the bells and whistles and…

Travel ・ 25 June 2021

Casino News Daily

Caesars Sells Southern Indiana Casino to Cherokee Tribe in $250M Deal

Casino giant Caesars Entertainment Inc. has agreed to sell its Caesars Southern Indiana casino to the Eastern Band of Cherokee Indians (EBCI) for $250 million, news emerged Thursday. The Southern Indiana property is being sold to the tribal operation a year after Caesars completed its $90 million renovation and expansion. Caesars Southern Indiana…

Gaming Authorities ・ 25 June 2021