In Michigan, the city of Detroit's three casinos have collectively reported monthly revenue for July of $107.2 million. The lion’s share of revenue, $105.9 million, was generated by table games and slots, while $1.3 million was made by retail sports betting.
Bally's plans to redevelop Tropicana on the south-Strip are not likely to be realized until 2023. The team is considering two sites in the resort corridor for a new ballpark. Bally’s purchase of Tropicaana still needs approval by Nevada gaming regulators. The matter is not scheduled to come up on this month”s agenda. A's want to build a $1 billion waterfront ballpark in Oakland to replace the 57-year-old RingCentral Coliseum. They are also considering a 27-acre parcel behind Planet Hollywood and Paris Las Vegas.
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There is a boom in casino gambling in Las Vegas despite the economic downturn. Caesars Entertainment and MGM Resorts International reported record-high performances for their Las Las properties in the latest quarter. Nevada gambling revenue was about $1.3 billion in June. The Wall Street Journal reports that people are flocking to the entertainment and gambling oasis. The inflation rate is at a four-decade high.
Las Vegas Strip Casinos Have Good News for Royal Caribbean, Carnival and Norwegian Cruise Line Holdings Ltd. Report offers a cruise for guests staying in Las Vegas for a few days. Caesars Entertainment has a similar deal with a casino chain as MGM Resorts International. Since the pandemic, some customers that are important to the cruise industry and Las Las have stayed away.
Suspect was arrested early Friday after a shooting at The Mirage Hotel & Casino in Las Vegas. One person died and two people were injured in the shooting on Thursday night. The suspect was taken into custody within six hours of the incident. MGM Resorts International has agreed to sell the Las Las. Vegas Strip resort to Hard Rock International for USD 1.075 billion.
Joe Lupo will become the new President of Hard Rock Hotel & Casino Las Vegas. Lupi was the President at Seminole Hard Rink Hotel and Casino Tampa for two years. He has more than three decades of casino gaming experience. Hardrock International plans to build an iconic Guitar Hotel on the Vegas strip.
Flamingo is being sold. Caesars Entertainment is planning to shed one of its Las Vegas Strip properties. It's a bit dated and needs updating. It has an old Las Las vibe. The company's CEO gave an update on that during the second-quarter-earnings call.
Japan: potential sale of Nagasaki's theme park raises confusion on the fate of a planned casino resort at the site
H.I.S., the largest shareholder of Huis Ten Bosch theme park in Nagasaki Prefecture, Japan, is negotiating with several entities to sell the park. The theme Park went into bankruptcy in 2003 due to low attendance. Hu is Ten Bosnia's integrated resort is expected to open in the autumn of 2027.
There have been a dozen implosions on the Las Vegas Strip since the early 1990s. The implosion of the Dunes in 1993 made way for Bellagio. Landmark Hotel and Casino was destroyed in 1995 to make way to Las Las Vegas Convention Center. Hacienda was demolished in 1996 to be replaced by Mandalay Bay. Aladdin was imploded in 2000 to replace Planet Hollywood. Castaways, Bourbon Street, Boardwalk and Stardust were destroyed.
There is an increasing demand for professionals in the casino industry. New Jersey, Pennsylvania and Michigan have gained new stable sources of tax revenue. iGamingMI is a website that covers everything that has to do with Michigan’s gaming industry and offers various roles for live dealers, game developers, cybersecurity specialists and creative marketers.
The Mirage was sold late last year by MGM Resorts International to Hard Rock International. Hard Rancher plans to build a Guitar Hotel on the site. The new owner hasn't commented on closing the current hotel and casino or what will happen to the iconic Cirque du Soleil "Love" show.
The Cosmopolitan of Las Vegas is real estate’s "most profitable single asset sale ever" for Blackstone
Blackstone sold The Cosmopolitan of Las Vegas for $5.65 billion. The transaction included a $1.625 billion lease-back deal for MGM Resorts International to acquire its operations. It is the latest high-priced transaction in Las Las that did not produce any funds in real estate transfer taxes. Gov. Steve Sisolak has said lawmakers should take up the issue in the next legislative session. Blackstone posted a net loss of $29.4 million for the second quarter of 2022.
Red Rock Resorts is building a new resort casino in the Fremont Street area. The company operates resort casinos far off the Las Vegas Strip. Red Rock's smaller scale gives it an intimate connection to its customers. Redrock's plans include having large swatches of land ready for future development.
Rush Street Interactive has launched its RushBet online casino and sportsbook in Mexico. FanDuel has officially opened its doors at Audi Field and is now accepting bets. Pragmatic Play has gone live with prominent Argentinian operator Pálpitos in Tucumán to provide its award-winning Slots portfolio. Star8 Corp has signed a Letter of Intent to acquire a group of St. Vincent operating under the name Pace Developments St Vincent Inc.
Playstudios has expanded its partnership with PONG Group. Players can exchange loyalty points for dishes, sake and glasses at three Pong dining destinations. Poon Group operates KOI, Teppanyaki Mihara, and A Smoking Affair restaurants in Hong Kong. PONConnect interactive beer pong table is also available. PLAYSTUDIOS apps are available to download free on iOS, Android, Kindle and Android. The playAWARDS loyalty marketing platform connects players to globally celebrated brands. It offers unique access, experiences, rewards.
Macao extends lockdown by five days. The lockdown began on July 11 and will last until July 23. It is due to the biggest outbreak of the coronavirus in over two years. Since outbreak began June 18, the city has reported some 1,700 infections. Macao's 41 casinos include six for market leader Las Vegas Sands Corp., three for Wynn Resorts Ltd. and two for MGM Resort International.
Caesars Entertainment, MGM Resorts International and Wynn Resort are the biggest players on the Las Vegas Strip. They build big, extravagant properties to attract tourists. Red Rock Reserves, the owners of Station casinos, is trying to do something different. It's trying for a new location. It caters more to locals than tourists, and it's looking for new locations.
The Volcano at Mirage is closing and Hard Rock International will build a guitar-shaped hotel on the Las Vegas Strip. The new attraction will be permanent. The Sin City area is full of neon and attractions. It's a new addition to the Sin city. Hard Rancher will add a permanent attraction to Sin Vegas. He will create a concert hall on Las Las Vitesse Strip, which will have a stage with a different theme every night.
If you can succeed in Las Vegas, you could succeed anywhere. Las Las is a city powered by tourists. Caesars Entertainment, MGM Resorts International and Wynn Resort are big players in the market. New York has a lot of tourism, but it's not the main source of its economy. Wynns has shown it can use the lessons it learned operating just off the Las. Vegas Strip and during the pandemic to bring its business all around the country.
MGM Resorts International has approached the firm's controlling shareholder, the billionaire Lim family, to express its interest in a deal.
Caesars shares plans for revamping Las Vegas Strip Casino. New casinos, including Dream Las. Vegas and the long-delayed Fontainebleau, are on their way. Hard Rock International plans a Guitar Hotel on the site of the Mirage's volcano. Caesar's plans to sell Flamingo resort casino and rebrand Ballys under its gambler-friendly Horseshoe brand. Celebrity chef Guy Fieri gave away a key part of this plan at a July 11 event.
Macau casinos are shut down for a week. Wall Street analyst cut his price targets for U.S.-listed casino stocks with exposure to Macau.
Macau has begun a citywide lockdown to combat rising coronavirus cases. The restrictions will continue for at least a week. Wynn Resorts and Las Vegas Sands are down 7% and 9%. MGM Resort International is down 2%.
Covid has flared up and is causing problems for three Las Vegas-based companies. Caesars Entertainment and MGM Resorts International took a hit during the pandemic. The city's casinos, hotels and restaurants were closed for about two months. Trade shows were cancelled or went virtual. Consumer Electronics Show returned in January 2022. By March Madness and late-April's NFL Draft, the Strip was operating nearly normal.
Tilman Fertitta, owner of the Golden Nugget casino, has big plans for some land he has purchased on the Las Vegas Strip. He wants to build a new casino. The downtown casinos were closer to old-school Las Las than the mega-resorts owned by Caesars Entertainment, MGM Resorts International and Wynn Resort International.
New Jersey is considering a ban on smoking in Atlantic City casinos. Nevada has just two casinos that are smoke-free. The industry is the biggest employer of jobs in Nevada. Last year, Atlantic city reported $4.7 billion in gaming revenue. More than $1.36 billion came from New Jersey's regulated internet casino sites. Gaming revenue in the market has been in a 16-year freefall. It hit a low of $2.56 billion last year. In 2006, it was $5.2 billion.
The new Resorts World International's 59-story hotel tower has more than 3,000 rooms and a gaming floor that's nearly 120,00 square feet. Caesars Entertainment (CZR) and MGM Resort International (MGM) operate massive megaresorts. Wynn Reserves' (WYNN) signature property fits that category.
Caesars Entertainment Inc. is putting its Flamingo Resort Casino up for sale and rebranding Bally's Resort casino under the Horseshoe name. MGM Resorts International traded Mirage for the Cosmopolitan. Las Vegas has bounced back spectacularly after the financial crisis. The Las Las Vites Strip is the most valuable 4.2-mile stretch of land in the world.
Circa is a new resort casino on Fremont Street. It will be located on the site of a former hotel. The downtown area has a rougher reputation than the Las Vegas Strip. It's a place where you can get cheap food, live music and a photo session with street performers. Now, with the Strip exploding with new casinos, arenas and other developments, another major casino operator has set its sites on downtown for a major new project.
Covid virus outbreak in Macau has pushed back the timeline of a full recovery for the Chinese gaming hub. Citigroup predicts that a broader reopening won't begin until the first quarter of 2023. However, most investors are willing to look past the current outbreak. George Choi believes there's reason to buy the stocks now in anticipation of the reopens and later this year they could get a boost from license renewals. He reiterated Buy ratings on Las Vegas Sands, Melco Resorts & Entertainment, MGM Resort International (MGM), and Wynn Reserves(WYNN).
Digital slot games have changed the way they play. They have added bonus features and video inserts. The old-school game used to be mechanical, but now the game teases players more. Winning actual coins used for the first time in the past. Now the only way to win is to cash in a paper voucher. Las Vegas Strip casino is trying to bring back coin-based slot machines.
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Las Vegas Strip Venue Abruptly Shuts Down With No Warning. Las Vegas undergoes constant change. Once iconic names are no longer found on the famed 4.2-mile stretch of road.
Casino Association of New Jersey and the New York Division of Gaming Enforcement are hosting a job fair at the Atlantic City Convention Center on Thursday. The job hunt is for table game dealers, culinary workers, servers and hotel housekeepers. It comes a day after hundreds of Atlantic city casino workers picketed outside the Tropicana in a protest over a contract dispute. Union leaders and workers want a significant wage increase to keep pace with inflation. They are negotiating with Caesars Entertainment, which owns Caesar's, Harrah's and Tropicaana, and MGM Resorts International, who owns the Borgata.
Borgata Casino opened in July 2003 in Atlantic City, New Jersey. It is a collaboration between MGM Resorts and Entain. In 2021, the operator expanded its online casino presence, launching in Pennsylvania. Borgata Online Casino NJ is completely legal and safe. All personal data is secured by high-level encryption and firewall protection.
The pandemic led to a construction boom in Las Vegas. Fontainebleau Las Las Vegas is on track for a late-2023 opening. The new resort casino will bring a resort to an area on the Strip that has never had one. The Strip has become some of the most valuable real estate in the world.
At the last minute, thousands of Atlantic City retail casino workers reached a tentative agreement with their employers.
Las Vegas Grand Prix is added to the F1 calendar for 2023. It's the first time in 40 years that Formula 1 has brought a Grand prix to Las Vegas. The announcement has created a buzz in Las Las. Many sponsors are already trying to seal the deal. There will be 150,000 hotel rooms, fine dining, cocktails, racegoers and an electric atmosphere.
China is starting to lift its lockdown protocols. The country is reporting the lowest number of new cases since early February. This means that the Chinese economy is making up lost ground. Casino stocks are rising on the news. Several of the largest U.S. casino companies have holdings in China. MGM Resorts International is up less than 1%, Las Vegas Sands (NYSE:LVS), Wynn Resort (NASDAQ:WYNN) and Melco Resorting & Entertainment (Nasdaq:MLCO) are up more than 8%.
A's Las Vegas Strip move is more likely now. Las Las Vega is a good option for teams looking for a better stadium/arena deal. The former Oakland Raiders used Las Nevada's interest in building a stadium for the team as a way to leverage a deal from Oakland. MLB's Oakland Athletics need a new stadium and they have looked at multiple sites on and off the Strip. They might consider Oakland's offer. It's also been talked about as the potential home of an expansion team.
Game shows are popular in casinos, on cruise ships and slot machines. "Lord of the Rings" had a slot machine. The biggest slotmachine based on a TV show is "Wheel of Fortune" with Vanna White. The long-running television show will get its own casino. It will be called "The Wheel of fortune".
Caesars Entertainment, MGM Resorts International and Wynn Resort Limited are offering reports on their casinos. Las Vegas is a city built on excess and allows people to do things they might not do at home. Caesar's, Wynns and others have to balance sin with entertainment. New data suggests it's not hard to decide whether to allow smoking in casinos, as it is in the day clubs.
Playtech has launched its casino software in New Jersey. It will be available across BetMGM, Borgata Online and PartyCasino NJ. BetmGM is a joint venture created by MGM Resorts International and GVC Holdings. The deal is the first step in Playtech's expansion into further US states. They hope to expand into more states in the near future. iReport.com:
The San Manuel tribe bought the Palms Station. Cynthia Kiser Murphey is the tribe's general manager. She is a gaming veteran who worked for MGM Resorts International for 20 years. The tribe renovated the entire back-of-house area for its team members. 50% of former Palm's employees returned when the resort reopened. The resort opened in 2001. It has some of the most popular features. Its restaurants are still open. They include Scotch 80 Prime and Mabel’s BBQ by celebrity chef Michael Symon. Employees are flown out to the Yaamava” property regularly to experience other Sanmanese practices.
BetMGM has announced a lucrative agreement with Sony Pictures Television and IGT for the launch of the first full brand-themed digital casino. The casino will be based on the popular game show Wheel of Fortune.
Supreme Court ruling last week allows the Tigua Indians of El Paso to operate bingo at an El Paso entertainment center. It also benefits the Alabama-Coushatta tribe, which has been fighting with Texas officials over bingos on its reservation. Las Vegas Sands will work with the Legislature next year to put a casino referendum on the ballot in Texas. Last year, Texas lawmakers rejected a Las Las Sands-backed casino gaming proposal. WinStar World Casino and Resort is located in Thackerville, Oklahoma, on Interstate 35.
PLAYSTUDIOS ‘Summer of Slots' Returns With Coast-to-Coast In-Person Events Featuring Games, Giveaways, and More
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The Mirage Volcano is being sold to Hard Rock International. Hard Rock wants to bring the Guitar Hotel to the Las Vegas Strip. The Volcano will be removed. The sale of the Mirage is expected to be completed soon. It will bring an end to both the Volcano and the name of The Mirage. iReport.com reports. A Las Las Vegas icon is about to fall. In the past, the Dunes, The Sands, Aladdin, Bourbon Street, Boardwalk, Stardust, and New Frontier have all been removed for Las. Vegas.
PLAYSTUDIOS ‘Summer of Slots’ Returns With Coast-to-Coast In-Person Events Featuring Games, Giveaways, and More
Summer of Slots is back after a two-year hiatus. Playstudios invites players to join the VIP team for in-person parties featuring games, giveaways and more. The events are meant to be a reunion and introduction to players that haven't yet had the chance to come to the parties.
Tribal casino operators are worried about cyberattacks. They are finding it harder to obtain reasonably-priced cyber insurance.
BetMGM Announces Agreement with Sony Pictures Television, IGT to Launch Online Wheel of Fortune Casino
BetMGM and Sony Pictures Television and International Game Technology PLC will launch Wheel of Fortune Casino in 2022. It will be the first full brand-led online casino in North America. Wheel's 40th season is about to begin. iGaming is the latest gaming extension for the Wheel games.
Owning a Las Vegas Strip casino is like buying a professional sports franchise. Caesars Entertainment and MGM Resorts International own many properties on the famed 4.2 mile stretch of road. Fontainebleau Las Las has been on a nearly 20-year odyssey and is on track to open in late 2023. Resort World Las was built from the ground up and opened on North Strip during the pandemic.
Atlantic City Retail Casino Workers Vote to Strike. About 96% of them are in favor of hitting picket lines. If the strike goes ahead, it will begin with four casinos on July 1 and then more casinos may join later.
The Local 54 branch of the Unite Here trade union has voted in favor of authorizing a full-blown strike against the city's collection of nine casinos. 96% of those who voted voted to give the union's negotiating committee the right to call a strike next month if no progress on desired ‘significant’ salary increases be reached.
The construction cranes are visible on the Las Vegas skyline. New casinos are being built or upgraded along the Strip. Caesars and MGM are currently working on new projects. Circus Circus is getting an update. Plaza Hotel & Casino is undergoing changes. The long-delayed Fontainebleau has been put back on track for a late-2023 opening.
Elon Musk's plans are often ambitious. He wants to build a city on Mars and revolutionize transportation and energy on Earth. His SpaceX has brought the internet to places it has never gone before and his Boring Co. invented a new way to dig tunnels.
The National Football League draft in Las Vegas was one of the biggest crowds in the city since the covid pandemic. The pandemics had literally shut down the Las Vegans and even when it reopened, things were not normal. Now, the pandeman has flared up again and some venues in Vegas have decided to bring back indoor mask mandates.
The potential growth difference for the casino gaming market between 2020 and 2025 is USD 50.03 billion. The report predicts the market to project an accelerating growth momentum at a CAGR of 4.85% during the projected period.
There was a data breach at MGM Resorts affecting 30 million customers. The population of the United States is 332 million people. The data breaches at Home Depot and MGM are not common. Nelson Worldwide is planning a mini-casino at the Nittany Mall. He has never stayed at an MGM Resort. It's odd that almost 10% of U.S. population could be affected by a breach.
The IRS has a limit for the amount of slot machine jackpot that must be reported to the federal agency for tax purposes. The limit hasn't changed since 1977. New proposed federal bill would raise the limit and make reporting less of a burden for casinos. Caesars Entertainment, MGM Resorts International and Wynn Resort Limited are reporting on the topic. i.e. Get Caeres Entertainment Inc. Report, Wynns Res Resort Limited Report.
The coffee chain has 35 stores on the Las Vegas Strip. Starbucks has locations inside Caesars Entertainment and MGM Resorts International hotels and casinos. Before the pandemic, Starbucks had 125 locations in Sin City. Now, Caeres welcomes an upscale cafe into its most upscale location. dn Dunkin' has recently expanded its presence in the city.
4 Atlantic City casinos not cleaning rooms daily, union says. Caesars, Harrah's, Tropicana and Golden Nugget are not complying with a COVID-related requirement that hotel rooms be cleaned daily. The state health department confirmed the order remains in effect. The union is in talks with the nine Atlantic city casinos for a contract to replace the ones that expired at the end of last month. Housekeepers claim there are too few workers to clean each room daily and they are understaffed. One housekeeper at Caeres claims the workload is taking a toll on her health.
LeoVegas AB is cooperating with the Swedish Economic Crime Authority as it investigates multiple allegations of insider trading. The firm is listed on the Nasdaq Nordic bourse.
Five casinos in Southern Nevada are not going to reopen. The economic downturn is keeping the doors locked. Red Rock Resorts spends $2.1 million every three months to keep the properties operational. The Southern Nevadans produced a gaming revenue record of $1.17 billion in March. It is expected to be higher in the first four months of 2022. There are also concerns about the impact of inflation and high gas prices. For now, the three companies have written off any reopening plans. They are still required to pay state license fees and certain slot machine and table game taxes.
The Las Vegas Strip has been a hot property in the last two years. New casinos have been built, a number of pieces of land have also been purchased. The buyer of the land is unknown. The owner of Houston Rockets, Tilman Fertitta, is planning to purchase prime property on the Strip to develop a new high-end casino project. There are also plans for a possible new Major League Baseball stadium for the Oakland Athletics. It is possible that MSG will get the Madison Square Garden Sports Corp. Class A (New) Report Sphere. and a first-of-its-kind entertainment venue.
Las Vegas has recovered well from the pandemic. The city's casinos fought through restrictions and canceled conventions to build their business back to where it was before the Pandemic, and the NFL has been a big part of the comeback. NBA teams are interested in coming to Las Vegas. There are rumors that the Oakland Athletics will bring a team to the city.