Chinese underground banking systems, known informally as “fei qian” or “flying money,” have become central to the operations of organized crime groups around the world. Functioning beyond the reach of regulated banking channels, these shadow financial systems facilitate the covert transfer of billions of dollars across borders. Expanding Criminal Reach Through Crypto and Casinos A recent report by blockchain intelligence firm TRM Labs, Shadow Bankers [pdf], explains...
Peoria Mayor Rita Ali has renewed demands that Boyd Gaming either construct a new land-based casino within Peoria city limits or sell its Par-A-Dice gaming license to an operator willing to do so, escalating a dispute with East Peoria that has spanned more than a year. In a sharply worded February letter to the Illinois Gaming Board (IGB)—made public this...
The slowdown in Southern Nevada tourism is rippling across the Las Vegas Strip, and even The Strat — one of its most iconic properties — has not been spared. Golden Entertainment, which operates the resort, reported a dip in both revenue and occupancy during the second quarter, reflecting a broader softening in visitor demand. Prices and Perceptions Shape Visitor Behavior In its latest earnings call, the...
Gulfstream Park Racing Association has taken its dispute over Florida’s 2021 Decoupling Act to the state’s highest court, asserting that the law unconstitutionally benefits competing slot machine operators while imposing unique restrictions on its own operations. The Hallandale Beach racetrack, owned by 1/ST Racing and Gaming, filed suit against the Florida Gaming Control Commission, arguing that the legislation represents an...
Flutter Entertainment, the global leader in online sports betting and iGaming, posted second-quarter 2025 results that comfortably outpaced analyst projections, propelled by strong performances in both the U.S. and overseas markets. The group reported adjusted earnings of $2.95 per share, handily topping the $2.08 estimate from LSEG’s analyst survey. Quarterly revenue reached $4.19 billion, exceeding consensus expectations of $4.13 billion...
Equatorial Guinea has taken a significant step toward reshaping its economy by entering the international online gaming arena. The country has issued its first official online gaming licence to Cyprus-based firm Mascott Capital Partners, laying the groundwork for a regulated digital gambling framework. This move positions Equatorial Guinea among a small but growing group of African nations seeking to tap...
Grand Korea Leisure Co. Ltd (GKL) has delivered an exceptional performance for the second quarter of 2025, posting a net profit of KRW 16.96 billion (US$12.3 million), which marks an impressive 49.7% year-on-year increase. The surge in profits is driven primarily by a solid performance in its foreigner-only casinos, particularly its flagship Gangnam Coex location in Seoul. The company, which...
The recent bankruptcy filing by Maverick Gaming, a Washington-based casino operator, has raised significant concerns about the potential role played by its financial backer, HG Vora Capital Management, in the company’s aggressive expansion and ultimate financial collapse. While the specifics of HG Vora’s influence on Maverick’s strategic decisions remain unconfirmed, industry insiders have highlighted the possibility that the investment firm’s involvement contributed to the...
Penn Entertainment, Inc. (PENN) reported a mixed financial performance for the second quarter of 2025, with solid results from its retail properties but challenges in its Interactive division. The company achieved $1.4 billion in retail revenue for the quarter, which matched expectations and was a notable increase of 6% over the same period in 2024. This performance, however, was overshadowed by an adjusted EBITDA...
Wynn Resorts Limited has released its financial results for the second quarter of 2025, showing a slight uptick in operating revenues but a decline in net income. The company reported operating revenues of $1.74 billion, marking a small increase of $4.9 million from the same period in 2024. However, net income attributable to Wynn Resorts dropped to $66.2 million, down from $111.9 million in the second...