Apr 26, 2015

Latest Casino News

Land Based Casino News (365 articles)

Riviera Casino Las Vegas Closes

It is official the Riviera Hotel Casino closes May 4th at 12:00pm according to a news release. The legendary landmark was sold to Las Vegas Convention and Visitors Authority in February for an estimated $191 million. As a result 1,000 people will be out of a job. On April 20th it will mark the 60th anniversary. “We greatly appreciate the expressions of fondnes...

Land Based Casino News

Revel Deal Finally Approved

Following several months of conflict and false starts in the bankruptcy court of New Jersey, the sale of the Revel building has been approved for $82 million to developer Glenn Straub from Florida. Revel declared a bust a mere two years after its $2.4 billion construction in Atlantic City, and has since been subject of judicial postponement and auction offers...

Land Based Casino News

Borgata Civil Case Against Phil Ivey Continues

The civil lawsuit filed by the Borgata Atlantic City against Phil Ivey will continue following federal judge Noel L Hillman’s decision not to dismiss the case. The case involves Ivey’s edge-sorting on...

Gambling Law & Society News Land Based Casino News

Who is Bwin.Party’s US Land Casino Partner?

The media has caught on to the possibility that Bwin.Party Digital Entertainment may be partnering with a land based casino in Pennsylvania but the identity of the US partner is unknown. Legislation for licensed and regulated online gambling in Pennsylvania is in the works a partnership would place Bwin.Party in a good position. The two casinos that are l...

Land Based Casino News

Galaxy Entertainment Warns Brand Thieves

Land based gambling group, Galaxy Entertainment has cautioned against imitators ripping off its brand. The company issued a public statement in response to illegal betting websites using its brand and images. "Galaxy Entertainment Group Limited and its subsidiaries and all of our properties, including Galaxy Macau, StarWorld Macau Hotel and Broadway Macau...

Gambling Law & Society News Land Based Casino News

The Latest on the Sale of Revel Atlantic City – Update

The Atlantic City bankruptcy court hearing involving Revel Casino was postponed indefinitely on Monday by Judge Gloria Burns. Reportedly, Judge Burns decided to postpone the hearing after both sides requested a brief hearing regarding professional fees. The purpose of Friday’s main hearing, also postponed, was scheduled for the judge to hear arguments to...

Land Based Casino News

The Latest on the Sale of Revel Atlantic City

The latest on the Revel Casino Resort in Atlantic City is that Judge Gloria Burns has decided not to rule on anything just yet. Florida developer Glenn Straub missed the closing date for the sale of the casino but worked out a deal with Revel’s owners, which placed them back in bankruptcy court. Los Angeles property developer Izek Shomof is willing to pay...

Land Based Casino News

American Investor Gains Control of Trump Taj Mahal

Billionaire American investor Carl Icahn has gained control of Atlantic City’s Trump Taj Mahal casino after the Chapter 11 bankruptcy for Trump Entertainment Resorts was approved in Delaware by Judge Kevin Gross. Donald Trump and Icahn made a deal that allowed Trump Entertainment to continue using the Trump name. Trump Entertainment, owner of the Trump Taj...

Gambling Law & Society News Land Based Casino News

Best and Worst of Las Vegas Casino Resorts

Customers have spoken and their votes reveal that Caesars Entertainment’s biggest rival in Las Vegas, MGM Resorts, owns the worst resorts in Sin City. Yelp ratings place MGM's Circus Circus at the top of the worst list with Flamingo Las Vegas coming in second based on Trip Advisor ratings. Other MGM properties with poor customer ratings in...

Land Based Casino News

Dutch State Gambling Monopoly to be Sold

Gambling monopoly in the Netherlands, the Holland Casino group, has been profitable for the first time in 7 years, which comes at the right time for the government's privatization of the company. The Dutch government intends to sell the casino group, which consists of 14 land based casinos. A group of ten will be sold and keep the Holland brand. The remaining...

Gambling Law & Society News Land Based Casino News

IRS Proposes Lower Tax Threshold on Land Based Casino Winnings

American land based casinos, supported by the American Gaming Association, have a new battle ahead of them as the IRS proposes to reduce the tax threshold for reporting gambling wins. All winnings of $1,200 or more must be reported and this rule has been in place for 40 years but now the IRS wants winnings on s...

Gambling Law & Society News Land Based Casino News

Tourism in Macau Under Review

Macau Social Affairs Secretary Alex Tam revealed concerns about the high volume of mainland visitors to Macau and now Chief Executive Chui Sai On advised Tan to review the situation. The review will be conducted from 2003 to the present. Macau's chief executive spoke to Beijing media saying that the outcome of the review will be turned over to China's cent...

Land Based Casino News

Revel Casino Sale Not Final

Just when we thought that the sale of Atlantic City’s Revel Casino to Glenn Straud was as good as final, Judge Gloria Burns declined the sale on Wednesday and extended the sales window an additional week. The presence of another potential buyer, Los Angeles property developer Izek Shomof, is the reason for the delay in the approval of the sale. Shomof's uno...

Land Based Casino News

Macau Revenue's Worst Plunge in History

Macau gambling revenue hits a new low in February, with a shocking 48.6 percent decline. Analysts were predicting weak numbers but not as bad as those released on Monday by the Gaming Inspection and Coordination Bureau, which are the worst on record. The revenue fall of 18.5 billion patacas has been attributed to a slowdo...

Land Based Casino News

Atlantic City’s $2.4B Revel Casino Sold for $82M

There has been some ups and downs with the sale of Revel Atlantic City but it seems that Glenn Straub has made the deal of the century having purchased the land based casino property worth $2.4 billion for the bargain price of $82 million. He initially bid $95.4 million bid when the property was auctioned but he had failed to meet the deadline to complete the...

Land Based Casino News

Glenn Straub’s Purchase of Revel Falls Through

Florida developer Glenn Straub has been the only potential buyer of Revel Atlantic City but it looks like the casino will be back on the market after bankruptcy Judge Gloria Burns ruled that the owners could back out of the sale since it was not finalized by the February 9th deadline. Straub initially bid $95.4 million for the $2.4 billion property and paid a...

Land Based Casino News

Potential Comeback for Atlantic City

It looks like there may be a light at the end of the tunnel for Atlantic City’s remaining casinos after all. In fact, the revenue in January was recorded as having an increase of 19%, in comparison to last year. More specifically, the eight casinos took in $197.5 million last month, an increase of 18.8 percent over the $166.2 million recorded in January 2014....

Land Based Casino News

Golden Nugget Wins Back $1.5M from Players

A New Jersey judge ruled in favor of the Golden Nugget in the case of the unshuffled cards. It seems that 14 players won a total of $1.5 million from the casino and State Superior Court Judge Donna Taylor has ordered them to return the money despite their argument that the shuffling, or lack of, was not their fault. The case dates back to April 2012 and a...

Land Based Casino News

Borgata Atlantic City to Host Basketball Tournament

Borgata Atlantic City is preparing to introduce a brand new skill-based tournament after receiving the approval from the New Jersey Division of Gaming Enforcement. The basketball tournament offers a buy-in of $20 in 90-second rounds where players will shoot baskets for free to win the prize pool made up of the buy-ins. The top four players will get a shar...

Land Based Casino News

Hard Rock Brand to Move into Atlantic City

The Hard Rock brand, owned by Florida’s Seminole Indians, may finally make its way to Atlantic City. An important meeting will be held on Thursday, January 28th, by the New Jersey Casino Control Commission, in order to potentially begin the process of approval for the brand to establish a casino on Atlantic City ground. Preliminary efforts have already been ma...

Land Based Casino News

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