In February 2025, Macau experienced a significant uptick in its gross gaming revenue (GGR), reaching MOP19.74 billion (approximately USD 2.46 billion). This marked a 6.8% increase from the previous year, driven largely by the festivities surrounding the Chinese New Year, which included the Golden Week holiday, a prime time for tourism and gaming in the region. According to Macau Business,...
BetMGM, a collaborative undertaking between MGM Resorts International and European-based gambling company Entain, has recently been authorized by the Nevada Gaming Commission to manage sportsbook operations across nine MGM properties in Las Vegas. This strategic move, confirmed on February 27, 2025, is poised to redefine the sports betting landscape in the city. Enhanced sportsbook management: Previously functioning under a license that...
The World Series of Poker (WSOP) Circuit is officially set to return to Great Canadian Casino Resort Toronto in 2025, bringing an expanded schedule and a significant increase in prize pools. Running from April 10 to 22, 2025, the tournament will feature 11 WSOP Circuit Ring Events, three more than last year. The total prize pool is projected to surpass...
DraftKings has agreed to a $10 million settlement to resolve a class action lawsuit challenging its NFT Marketplace and Reignmakers product. The lawsuit, which accused the company of offering unregistered securities, had been ongoing for nearly 18 months before both parties reached a resolution. The legal dispute, initiated by lead plaintiff Justin Dufoe in March 2023, centered on allegations that...
Rush Street Interactive (RSI) has reported significant financial growth for 2024, with total revenue reaching $924.1 million, reflecting a 34% year-over-year increase. The online casino and sports betting operator also posted $6.5 million in net income for the fourth quarter, reversing a $5.5 million loss from the previous year. For the full year, RSI reported a net income of $7.2...
Star Entertainment Group Ltd. has witnessed a significant downturn, with its shares tumbling over 15% after trading resumed following a brief halt. The company, ensnared in grave financial difficulties, is actively seeking solutions, including considering a substantial $650 million rescue proposal from Oaktree Capital Management. This effort is crucial as the company stands on the precipice of potential bankruptcy. The precipice of collapse: On...
Melco Resorts & Entertainment Limited, a prominent player in the integrated resort sector in Asia and Europe, is currently assessing various strategic alternatives for its Philippine venture, City of Dreams Manila. This review is part of a broader strategy to realign Melco’s asset portfolio in response to changing market dynamics and corporate objectives. Exploring new opportunities: As stated in the company’s...
As Macau approaches the culmination of a critical three-year transition period in 2025, the fate of its satellite casinos hangs in balance. Secretary for Security, Wong Sio Chak, during a press briefing on the city’s crime statistics for 2024, emphasized the stable security landscape within this segment but acknowledged the looming uncertainties as the transition period draws to a close. The transition’s implications: Satellite casinos in Macau,...
In a notable legal confrontation within the casino gaming industry, The Talisman Group, LLC, known for its creation of the no-commission baccarat game EZ Baccarat, achieved a pivotal victory in its ongoing legal tussle with LNW Gaming, Inc., a subsidiary of the major gaming entity Light & Wonder, Inc. This legal battle, adjudicated in the Eighth Judicial District Court of Clark County, Nevada, revolved around allegations of contractual...
The Big Fresno Fair has decided to postpone all live horse racing in 2025, citing ongoing uncertainties within California’s horse racing industry. The fair’s Board of Directors and Fair Management announced the decision, highlighting concerns over the availability of horses, increased financial risks, and the absence of a cohesive racing management structure for Northern California fairs. According to officials, this...