Fitch Frowns on Casino REITs

While three MGM Resorts International, Caesars Entertainment, and Pinnacle Entertainment are working on putting together REIT offerings for investors, an investment analyst for Fitch says the large casino companies...

Published January 25, 2016

Showboat Sale Finalized in Atlantic City

Atlantic City’s former Showboat casino has been sold again, this time to a Philadelphia developer by Stockton University. The school announced it had finalized the $23 million sale, ending...

Published January 25, 2016

Maine Casino Promoter Accused of Misleading the Public

Shawn Scott, a Nevada-based casino developer who is pushing a plan to allow a third casino in Maine is being accused of misleading tactics in his effort to qualify...

Published January 25, 2016

Nebraska Lawmakers Refuse to Call Poker a Skill Game

The Nebraska Legislature voted 16-14 against changing the official definition of what constitutes a game of chance. The lawmakers declined to say that poker is a game of skill,...

Published January 25, 2016

Nevada Casinos Cleared for Utility Exit

Nevada casino operators no longer have to prove they are buying energy from alternative sources in order to stop buying power from the state’s largest utility, but they still...

Published January 25, 2016

Long Island Locals Oppose Belmont Park Casino

A proposed 100,000-square-foot video gaming casino along the western grandstand at Belmont Park (l.) in New York is drawing organized opposition from locals who say it would increase crime,...

Published January 25, 2016

Pinnacle Wants Looser Missouri Credit

Pinnacle Entertainment, owner of three Missouri casinos in St. Louis and Kansas City, wants the legislature to ease July 2014 rules allowing qualified customers to borrow at least $10,000...

Published January 25, 2016

Atlantic City Revel Owner Plans to Reopen Casino

Developer Glen Straub (l.), the owner of Atlantic City’s closed Revel casino, says he plans to reopen a casino at the site. The casino would be smaller than the...

Published January 25, 2016

Iowa Commission Approves Ameristar REIT

Pinnacle Entertainment will sell its Ameristar Casino property in Council Bluffs to a REIT under a plan approved by the Iowa Racing and Gaming Commission. Pinnacle will receive more...

Published January 25, 2016

Detroit Casinos Post 2015 Revenue Increases

All three Detroit casinos posted revenue gains and a composite increase of 3.3 percent over 2014, according to the Michigan Gaming Control Board. MGM Grand (l.) revenue rose 3.7...

Published January 25, 2016

Genting, Isle Still Focused On Florida

Atlanta may be the current casino development hot spot, but Genting and Isle of Capri have their eyes on Florida. Genting, which spent $500 million on the former Miami...

Published January 25, 2016

Casino at Dania Beach Debuts Renovation

The former Dania Jai Alai, closed for more than a year, recently debuted its $64 million renovation and new name, the Casino at Dania Beach. The property features a...

Published January 25, 2016

Rivers’ Revenue Remains Flat

Since it opened in 2011, Rivers Casino in Des Plaines, Illinois has posted consecutive revenue increases. But not in 2015 when it brought in $425 million, about the same...

Published January 25, 2016

Police: Insiders Swiped $420K from Mohegan Sun

A Mohegan Sun vice president, beverage server, and a third person are accused of using bogus player’s cards loaded with fake funds to steal nearly $420,000 from the casino...

Published January 25, 2016

Georgia Lawmakers Push Casino Referendum

Instead of pushing legislation allowing six destination casinos, Georgia Rep. Ron Stephens (l.) is focusing on a constitutional amendment requiring a voter referendum that would allow casino gambling to...

Published January 18, 2016

Taj Mahal Wins Union Showdown; Icahn Takeover Imminent

Trump Taj Mahal last week won an appeal that reaffirmed its ability to end benefits for its union workers. The decision should pave the way for a takeover of...

Published January 18, 2016

MGM Adds Fee to Vegas Parking

With the opening of the T-Mobile Arena in April, visitors who drive to MGM Resorts’ properties in Vegas will be required to pay for parking. MGM becomes the first...

Published January 18, 2016

Fitch Predicts Stable 2016 for Gaming Industry

The year 2016 is likely to be stable but without any spike in growth for the U.S. gaming industry according to analysts for Fitch Rating Services. However, the reliance...

Published January 18, 2016

MGM Springfield Begins Construction

With the demolition of a vacant school, MGM Resorts began to prepare the ground for the construction of its Springfield, Massachusetts casino. The official groundbreaking (l.) for the $950...

Published January 18, 2016

Miami-Bimini SuperFast Ferry Ending

Yesterday was the last day of service of Resorts World Bimini's SuperFast ferry, between Miami and Bimini. RWB President Ed Farrell said the company will start a comprehensive transportation...

Published January 18, 2016