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Melco Resorts & Entertainment (NASDAQ:MLCO) could see its debt burden balloon over the next 12 to 18 months. That’s as the pace of recovery in the world’s largest casino center remains lethargic. The company is one of the six concessionaires in the special administrative region (SAR) of Macau. ...
Entain CEO Shay Segev has sensationally quit his job at the online gambling giant formerly known as GVC after just six months in the role. His departure comes right in the midst of $11 billion takeover negotiations with MGM Resorts International. ...
Playtika, the Israeli mobile gaming company, updated a Form S-1 filing with the Securities and Exchange Commission (SEC) today, saying it plans to sell $1.6 billion worth of equity in a US initial public offering (IPO) valuing the firm at $8.6 billion to $9.4 billion. ...
MGM Resorts International (NYSE:MGM) is offering $11.06 billion for Entain Plc (OTC:GMVHY). But the British bookmaker says that’s not enough. A Ladbrokes betting ...
Jeff Sagansky, the Hollywood executive behind two of this year’s biggest blank-check deals in the gaming industry, revealed plans for another special purpose acquisition company (SPAC) initial public offering (IPO). ...
In Kentucky, the battle against illegal offshore internet gambling that has waged for a decade concluded on Thursday after the Kentucky Supreme Court reinstated a nearly $1.3 billion award for the southeastern state in a judgment against Irish bookmaking company Flutter Entertainment. Originally brought by the Commonwealth of Kentucky in 2010, the Franklin Circuit ...
Flutter Entertainment said it was taken aback by a ruling published Thursday by the Kentucky Supreme Court. That decision reinstated a judgment against subsidiaries of The Stars Group in a lawsuit that dates back to 2008 and case law that dates back to 1798. ...
The US$1.6 billion Crown Sydney will open on December 27, as planned, just without the casino. On Wednesday, the regulator for the state of New South Wales, ILGA, announced it had granted embattled operator Crown Resorts an interim liquor license for the property’s hotel, bars, and certain restaurants. ...
International Game Technology (NYSE:IGT) is selling its Italian digital gaming, gaming machine, and sports wagering operations to Gamenet Group S.p.A for $1.15 billion. Gamenet is a group of affiliated funds run by private equity giant Apollo Global Management. ...
Flutter Entertainment Plc (OTC:PDYPY) is shelling out $4.175 billion to acquire 37.2 percent of FanDuel controlled by Fastball Holdings LLC. The transaction will increase the Irish gaming company’s stake in the sportsbook operator to 95 percent from 57.8 percent. ...
Biloxi, Mississippi will be one of three sites to launch the first “music-based experiential” hotel property, according to a recent announcement from American global music corporation, Universal Music Group, and Florida-based impact investment group, Dakia U-Ventures. Similar projects are reportedly set to be launched in Atlanta, Georgia, and Orlando, Florida. Hotel partner: The planned ...
British online casino software company Realistic Games has added the next installment to its popular Game Changer series. Fireworks Game Changer is scheduled to launch exclusively with the GVC Group for a period of two weeks before being released network-wide. The explosive, 5-reel Fireworks Game Changer slot combines the classic Realistic Fireworks theme with ...
The lingering impacts of the coronavirus pandemic will soon reportedly prompt the six licensed casino operators in Macau to detail combined second-quarter deficits in earnings before interest, tax, depreciation and amortization of over $1 billion. According to a report from Inside Asian Gaming, this is the forecast of global brokerage and investments firm Morgan ...
Pennsylvania’s iLottery program is officially the most commercially successful to date in North America with total sales of online/mobile games reaching $1 billion in just under two years. Developed and powered by Las Vegas-based Scientific Games Corporation (NASDAQ: SGMS), the Northeastern US state’s digital lottery program has easily eclipsed any previous iLottery launch in ...
The American Gaming Association has released a report regarding sports betting on Super Bowl LIV, showing that a record number of Americans will be wagering on the event. As many as 26 million residents of the US are expected to place bets, which will be an increase of around three million when compared to ...
Surpassing its 2018 high by more than $10 million, Detroit’s three casinos reported $1.454 billion in record adjusted gross revenue last year, with MotorCity Casino Hotel and MGM Grand Detroit having contributing record years, according to the Michigan Gaming Control Board. In the lead in 2019 with 43 percent of the market share was ...
In Nevada and prominent casino operators Eldorado Resorts Incorporated and Caesars Entertainment Corporation have announced that their shareholders have approved the $17.3 billion deal that is to see the pair merge. The two companies used a joint Friday press release to detail that the envisioned agreement to create the largest casino firm in the ...
American lottery and gaming machines innovator Scientific Games Corporation has announced that its Scientific Games International Incorporated subsidiary is set to place some $1.2 billion in senior unsecured notes up for grabs. The Las Vegas-headquartered firm used an official Tuesday press release (pdf) to detail that the notes connected with this private bond placement, ...
After three years of work, the world’s first guitar-shaped hotel opened on Thursday, October 24 in South Florida. The massive 450 ft structure is part of the Seminole Hard Rock Hotel and Casino Hollywood’s $1.5 billion dollar expansion that broke ground in the summer of 2017. Owned and operated by the Seminole Tribe of ...
In the Philippines and a senior official with the nation’s state-owned casino operator has reportedly announced that he expects his organization’s cumulative annual revenues from gaming to reach almost $1.41 billion for 2020. According to a report, James Patrick Bondoc serves as Vice-President for the Philippine Amusement and Gaming Corporation (PAGCor) and made the ...
In Las Vegas and a plan has reportedly been launched that could see the site of the former Moulin Rouge Hotel transformed into a $1.6 billion mixed-use development complete with a 400-room hotel and a 25,000 sq ft casino. Diminutive deadline: According to a Friday report from the Las Vegas Review-Journal newspaper, a local ...
