Mar 3, 2015

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Land Based Casino News (352 articles)

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...

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New Casino Opening in Macau

Melco Crown Entertainment Ltd. has constructed a new casino complex in Macau. The complex, designed to resemble Gotham City, cost $3.2 billion to build and will offer a few unique attractions. Studio City will be a family oriented destination with the tallest Ferris wheel in Asia known as the Goldeneye. According to publicity, the Golden Eye feature was design...

Land Based Casino News

Professional Gambler Sues Caesars Entertainment

Ross Miller, a 28-year-old professional gambler from New Jersey, has filed a case against Planet Hollywood Resort in Las Vegas claiming that he was illegally detained and $5,000 in casino chips were taken from him as a resu...

Gambling Law & Society News Land Based Casino News

Judge Rules Against Revel Casino Bidder

Despite his attempts to cut corners, Atlantic City Bankruptcy Judge Gloria Burns determined that Glenn Straub’s original bid of $95.4 million for Revel Casino will stick. Revel was built for $2.4 billion two years ago but after losing to a higher bidder who backed out of the deal, Straub returned trying to chew down the price. He claimed that the auction...

Gambling Law & Society News Land Based Casino News

Macau Casino Revenue on the Decline

Since the start of Macau’s legal casino industry in 2001, revenue is on a seven month downswing for the first time. Reportedly revenue decreased 2.6% in 2014 to $44.1bn; however the most significant drop was in December with a 30.4% plummet according to figures released by Macau's Gaming Inspection and Coordination Bureau. Even with less money passing thro...

Gambling Law & Society News Land Based Casino News

Revel Resort Casino Buyer Says Original Auction was Unfair

Glenn Straub, of Florida, is interested in Revel Resort and Casino in Atlantic City and is willing to pay just $87 million for the property that is less than three years old and cost $2.4 billion to build. Straub initially bid $95.4 million earlier in the year when Revel went to auction; however was outbid by Toronto-based Brookfield Asset Management who later...

Land Based Casino News

China’s President Seeks Tighter Controls on Macau’s Gambling Industry

China’s president, Xi Jinping, briefly visited Macau this week and now seeks tougher controls on gambling in the region. He expects closer supervision and regulatory improvements in Macau, which sees millions of visitors each year. According to media, China prepares to attack the problem of billions of dollars in illegal funds moving through Macau’s casino...

Land Based Casino News

Trump Taj Mahal Gets a Brief Reprieve

Trump Taj Mahal was due to close on December 12. The broke Atlantic City land casino failed to reach an agreement with the employees’ union gaining a brief reprieve as the negotiations continue. The closure date was pushed to December 20 by owners of the Trump Entertainment Resorts with the support of its principle creditor Carl Icahn, in an attempt to buy more t...

Land Based Casino News

7 IGT New Video Poker Games

When IGT's Game Star releases new Video Poker titles players stand up and listen. As one of the highest rated, most popular software for Video Poker, it is a pretty safe bet you’re in for premium products. There are 7 Video Poker games featuring new concepts available for single-hand and multi-hand bundles. Flush Fever Poker – Introducing the Redraw feature, a...

Land Based Casino News

Trump Taj Mahal Casino Avoids November Closure

According to billionaire investor Carl Icahn unless the Local 54 Unite –HERE union contract was terminated eliminating the expense of pension and health care there was no way for the Casino to survive. On Friday a federal bankruptcy judge voided a union workers contract as part of plan that would save the Casino from closing on November 13th. Bob McDevitt,...

Land Based Casino News

Atlantic City Boardwalk New Casino in the Works

As the Boardwalk takes four steps backwards with Casino closings it moves one step forward with a new gambling playground. A federal bankruptcy judge Gloria Burns slammed her gavel down last week declaring Revel sold to Brookfield Asset Management for the bargain basement price of $110 million. Revel Casino cost 2.4 billion to build and closed on Septembe...

Land Based Casino News

Another Atlantic City Casino Partners with KGM Games and Spin Games

Atlantic City’s Golden Nugget Casino has partnered with KGM Gaming and Spin Games to launch for the New Jersey market. The two gaming companies also secured a partnership in March of this this year with Caesars Entertainment. Over the next few weeks, KGM Gaming intends to integrate Mega Ball, Slots and Video Poker.

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Sentimental Journey Back to Atlantic City Boardwalk

Having recently visited Atlantic City in June, I returned after receiving yet another free trip from Caesar’s Entertainment group. I stayed at Harrah’s Casino which still had the hustle and bustle of the crowd, feeling pretty confident they aren’t going to close anytime soon. Taking a stroll along the Boardwalk had a completely different feel this time around...

Land Based Casino News

Casino Closures Lead to an Uncertain Future for Atlantic City

The city that once held a reputation that nearly rivaled that of Las Vegas in terms of gambling, has now taken a bit of a plunge. With the recent string of casino closings, Atlantic City of New Jersey, has had its credit rating cut an entire level to BBB+ by Standard & Poor’s. Prior to this, the city had already received its fair share of negative feedback ea...

Land Based Casino News

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