Casino Economy

In the United Kingdom, sportsbetting giant Ladbrokes Coral Group has announced that it intends to begin paying a voluntary levy on all of its offshore greyhound racing turnover from the start of next year. London-based Ladbrokes Coral Group, which last week eschewed a second takeover attempt from online gambling firm GVC Holdings, explained that the commitment is unconditional and will...
In New York, privately-held gaming and entertainments operator Delaware North Companies has reportedly announced that its Jake’s 58 Hotel and Casino facility accumulated gross revenues of $199.6 million for the first 26 days of August. According to a report from Newsday, Delaware North Companies revealed that the figure for the venue was less than the near-$210 million recorded for July...
Wild Crypto (SYMBOL: WILD) have developed a lottery and eGaming platform on the Ethereum blockchain and have announced a new coin, much like Bitcoin, they intend to use to fuel the technology’s completion and deployment. These coins will not be available until September 5th when they plan to offer them in a similar fashion to an initial public offering...
Travellers International Hotel Group Inc. is seeking insurance compensation for financial losses suffered when the company’s Resorts World Manila casino shut down following a June arson attack that left 38 people dead. The company is seeking PHP721 million (~US$14.11 million) to help offset the PHP921 million (~US$18.03 million) in losses. In addition to assistance to families of those affected by...
In Wisconsin, gambling revenues at the Potawatomi Hotel and Casino for the twelve months to the end of July reportedly inched up by only about 1.5% year-on-year to hit approximately $400 million. According to a report from the local Milwaukee Journal Sentinel newspaper, the Milwaukee casino owned by the Forest County Potawatomi Community raked in net win of about $395...
The Association of Gaming Equipment Manufacturers (AGEM) has released its latest monthly report into the stock performance of major listed casino equipment suppliers reportedly showing that those involved achieved a 50.7% year-on-year improvement for August to 145.26 points. According to a report from GGRAsia, the most recent results contained in the AGEM Index report, which was prepared in partnership with...
The closure of the Trump Taj Mahal appears to have benefitted Atlantic City‘s seven remaining casinos, as a recent upswing in tourism has been seen within the last six months.  Not only are the remaining casinos taking on the Taj’s former visitors, but new visitors are coming to the region to enjoy gaming and entertainment, as well as hotel stays. According...
Australian casino operator The Star Entertainment Group Limited has released its consolidated financial results for the year to the end of June showing that its annual net profit had improved by 36% year-on-year to hit $208.8 million. Sydney-listed The Star Entertainment Group Limited is responsible for The Star Sydney, which overlooks Darling Harbour near the center of Australia’s largest city,...
In Chile, global private equity firm Advent International Corporation has announced that it has signed an agreement to spend up to $170 million in order to acquire a “significant” stake in local casino and hotel operator Enjoy SA. Advent International Corporation explained that the deal will see it partner with the founding Martinez family as well as other prominent institutional...
After completing its acquisition of Malta-based rival ComeOn Malta Limited in May, Swedish online casino operator Cherry AB has now released its financial results for the first six months of 2017 showing a 192% increase year-on-year in overall revenues to $133.61 million. Cherry AB is responsible for over a dozen online gaming domains including CherryCasino.com, SunnyPlayer.com and SveaCasino.com. The company...

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