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"Atlantic City" Tag Results

Atlantic City Casino Revenue Soars Past Pre-Pandemic Figures
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Atlantic City Casino Revenue Soars Past Pre-Pandemic Figures

On Monday, the New Jersey Division of Gaming Enforcement (DGE) presented gross operating profit data for its casino industry. According to those figures, there was a total of $155.6 million in profits on net sales of $719.8 million. For all nine Atlantic City casinos, profit margins were higher in the first quarter of this year […]
The Rule on Atlantic PILOT Bill to Come Within Weeks
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The Rule on Atlantic PILOT Bill to Come Within Weeks

State lawmakers passed a bill late last year, and Governor Phil Murphy signed it. The bill focused on changing how casinos pay property taxes. Atlantic County, which is home to Atlantic City and several casinos, had numerous issues with the bill. Therefore, they went to court. The revised PILOT (or payment-in-lieu-of-tax) law signed a few […]
Five People Charged for Using Fake Checks at AC Casinos
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Five People Charged for Using Fake Checks at AC Casinos

Five casinos lost cumulatively $1,120,000 in an elaborate scam involving fake checks. New Jersey’s Acting Attorney raised charges against five individuals allegedly involved in the scam. Five People Allegedly Lift Millions by Using Fake Checks, Face Charges The Acting Attorney General Andrew Bruck in New Jersey announced indictments against five individuals on Thursday this week. […]
Kentucky Court Reinstates $1.3bn PokerStars Penalty
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Kentucky Court Reinstates $1.3bn PokerStars Penalty

Settled in 2018 by the Kentucky Court of Appeals, the state’s Supreme Court has reinstated a ruling against PokerStars and its parent company, Flutter Entertainment, to the tune of $1.3 billion. The company will have to pay $870 million fine and a 12% compound annual interest based on the decision of Justice Samuel Wright who […]
William Hill Approves Caesars $3.7bn Takeover Bid by Caesars
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William Hill Approves Caesars $3.7bn Takeover Bid by Caesars

During an extraordinary shareholder meeting on Thursday, November 19, William Hill shareholders voted with an overwhelming majority in support of Caesars Entertainment’s $3.7 billion bid to take over the company’s U.S. assets. The meeting was the final hurdle within the company necessary for the deal to move forward notwithstanding regulatory approval from the Competitions and […]
Fitch Predicts 2024 Recovery for Las Vegas Casinos
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Fitch Predicts 2024 Recovery for Las Vegas Casinos

Fitch Ratings Service has predicted a lengthy road to recovery for Las Vegas casinos. While many jurisdictions have been recovering fairly quickly, Las Vegas seems to be struggling to fill up its 150,000 hotel rooms and bring back faithful casino players and business travelers who are not too reluctant to return, but local regulations may […]
Golden Nugget Signs a Partnership Deal for Online Launch in Michigan
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Golden Nugget Signs a Partnership Deal for Online Launch in Michigan

Golden Nugget has inked a deal with the Keweenaw Bay Indian Community, which operates two Ojibwa Casino properties in Michigan. Under the partnership, the company’s Golden Nugget Online Gaming and Ojibwa Casino will launch online gaming and sports betting in the state. Golden Nugget is effectively pushing beyond its traditional market in New Jersey where […]
Avi Resort Shuts Down and Atlantic City Reopens
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Avi Resort Shuts Down and Atlantic City Reopens

A Laughlin casino had to shut down earlier this week after a number of workers tested positive for the novel coronavirus. The Avi Resort & Casino, operated by Fort Mojave Indian Tribe, suspended all operations on Monday, with celebrations later into the week cancelled while sanitization and quarantine measures now in force. Avi Resort has […]
Slow Recovery Ahead for US Casinos
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Slow Recovery Ahead for US Casinos

Slow recovery ahead as casinos in the United States are still coping with pandemic and tentatively reopening. Michigan, Massachusetts and New Jersey are all at different stages of their reopening this week. Find out more in our weekly overview, covering the most important developments from the casino industry in the United States. Michigan Casinos to […]
Las Vegas Turns Lights On & Plans to Reopen Atlantic City
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Las Vegas Turns Lights On & Plans to Reopen Atlantic City

The casino business overview focuses on the most important news from the casino world in the United States this week, June 1 – June 5. We bring you the most important headlines from the industry this week. Las Vegas Casinos Turn on the Lights Amid Protest and COVID-19 Outbreak Some 78 days ago, Las Vegas […]