Star Entertainment Group is weighing a $650 million debt financing offer from Oaktree Capital Management as the Australian casino operator faces serious financial uncertainty. With dwindling liquidity and ongoing restructuring efforts, the company is actively exploring solutions to stabilize its operations. The casino operator recently disclosed its financial struggles, revealing that it had only $78 million in cash reserves as...
The Henderson Planning Commission has approved an expansion plan for the Inspirada Station casino site, adding 14.1 acres to the project. The decision, reached in a unanimous 5-0 vote with two abstentions, allows Station Casinos to extend the gaming enterprise district at Via Inspirada and Bicentennial Parkway in the Seven Hills area. The additional land will primarily be used for...
Former executives of Entain PLC, a major player in the global betting market, are embroiled in a legal battle against the company and its long-standing legal advisor from the UK, Addleshaw Goddard (AG). The dispute centers around alleged unauthorized disclosures of privileged information linked to a substantial legal settlement involving Entain’s operations. Legal battle amidst corporate scrutiny: Kenny Alexander and...
In a significant move to enhance its casino and hotel services, International Entertainment Corp has announced a comprehensive PHP1.47 billion (US$25.5 million) renovation plan for its New Coast Hotel Manila, Philippines. This initiative, led by its wholly-owned subsidiary New Coast Leisure Inc, aims to modernize the facility and expand its gaming capacity, promising a boost in visitor attraction and future revenue. Contract details and renovation scope: The contract,...
La Française des Jeux (FDJ), a leading name in the European betting and gaming landscape, has reported a robust performance for the year 2024. The company’s revenue soared to €3,065 million, marking a significant 17% increase compared to the previous year. This growth includes contributions from Kindred, integrated into the company from October 11. Excluding Kindred, FDJ’s growth was 10%, with its gaming...
The Philippine government, represented by the Presidential Anti-Organized Crime Commission (PAOCC), has set a formidable goal to completely eradicate illegal Philippine Offshore Gaming Operators (POGOs) by the close of this year. This initiative is part of a broader effort to cleanse the nation of unregulated gambling activities that pose significant social risks. During a media briefing at the Saturday News Forum in Quezon City, PAOCC Executive Director...
Play’n GO has launched Crystal Hall, its latest slot game, transporting players into a realm filled with gleaming gems and otherworldly symbols set in a magnificent hall. This addition to their portfolio merges the nostalgic feel of traditional slots like Big Win 777 with contemporary gaming mechanics, promising a richly rewarding and immersive experience. Immersive visuals and engaging gameplay: The design of Crystal Hall does not seek...
The State Lottery of Rio de Janeiro (Loterj) has issued an ordinance suspending all betting operations beyond the state’s borders. This decision follows a ruling by Supreme Court Justice André Mendonça, who ordered the agency to comply with federal regulations limiting its jurisdiction. The new directive, published in the State Official Gazette on February 13, reinstates mandatory geolocation tracking to...
DraftKings has released its financial results for the fourth quarter and full year 2024, showcasing significant revenue growth alongside increased operating losses. The company reported a total annual revenue of $4.8 billion, reflecting a 30.1% year-over-year increase. However, its net loss for the fourth quarter surged by over 200%, influenced by rising expenses and customer-friendly sportsbook outcomes during the NFL...
For the third consecutive year, legislative efforts to introduce a casino in Fairfax County have failed. The latest attempt, Senate Bill 982, aimed at expanding Virginia’s casino-eligible localities to include Fairfax County, was unanimously blocked by a House subcommittee. This decision effectively removes the proposal from the 2025 legislative session. Members of the Commerce, Agriculture & Natural Resources Subcommittee voted...