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Business
November 5, 2024
Wynn Resorts Remains Optimistic on UAE Expansion Despite Underwhelming Q3 Results
Despite an unimpressive third-quarter earnings report, Wynn Resorts is doubling down on its ambitious expansion into the UAE, specifically through its landmark Wynn Al Marjan Island project in Ras Al Khaimah. CEO Craig Billings was optimistic about the UAE project, set to launch in 2027, as the operator expects it to usher in a new […]
Industry
November 5, 2024
$3.1M Tax Refund in Nevada Reveals Regulatory Loophole
In a settlement reached on Monday, the Nevada Gaming Commission agreed to refund Nevada Restaurant Services Inc. (NRSI), the operator of 41 casinos under brands such as Dotty’s and Bourbon Street Sports, a total of $3,120,197.28 in overpaid taxes. These overpayments resulted from an accounting error, over-inflating its tax payments. NRSI Uncovered Two More Years […]
Legal
November 5, 2024
High-Profile Fugitives Laundered Millions of Dollars at LVS Properties
Years ago, fraudsters stole some $4.5 billion from Malaysia Development Berhad, an insolvent Malaysian strategic development company. An investigator in Singapore now believes that some of the money has been siphoned to Las Vegas Sands properties via a shell company. The Largest Kleptocracy Case to Date Described as one of the world’s greatest financial scandals […]
Industry
November 1, 2024
Macau October Gross Gaming Revenue Surges to New Heights
Macau’s gross gaming revenue (GGR) climbed to MOP 20.8 billion ($2.6 billion) in October, the best month the region has experienced since COVID-19 restrictions were relaxed at the beginning of last year. According to Macau’s Gaming Inspection and Coordination Bureau (DICJ), this figure surpasses the previous high of MOP 20.2 billion ($2.52 billion) set back […]
Business
November 1, 2024
RSI Posts Strong Q3 Report, Boosts FY Guidance
Leading gaming and betting operator Rush Street Interactive (RSI), published its financials for the quarter ended September 30, outlining a vast increase in revenue and income. Because of the strong performance, Rush Street Interactive updated its guidance to reflect its current forecasts. RSI Posts Strong Metrics Across the Board Rush Street Interactive reported $232.1 million […]
Business
October 31, 2024
UKGC Reports 11% GGY Boost Amid Record High Slot Revenue
The latest market overview published by the UK Gambling Commission has reported a gross gambling yield (GGY) of £1.32 billion ($1.71 billion) in the three months to 30 September. The increase was primarily triggered by a recorded 16% uptick in online slot activity among UK gamblers, which propelled slot revenue to a record high. Over […]
Business
October 31, 2024
MGM Posts Record Q3 Metrics, Reports Share-Buyback Progress
MGM Resorts International posted its Q3 report, outlining record-breaking revenue figures. The quarter also saw MGM make progress with its share buyback program. The Company’s Metrics Surged In the third quarter of the year, the international casino and hospitality powerhouse reported record-breaking results, underpinned by high hotel occupancy. Consolidated net revenues hit $4.2 billion, marking […]
Business
October 31, 2024
Lottomatica’s Q3 Results Show Strong Online Growth Amid Market Expansion
Lottomatica Group saw its numbers soar in the third quarter of 2024, with big gains in key areas even though there were some challenges in terms of profit. Lottomatica Reports 19% Revenue Surge to €1.42 Billion, Fueled by Strategic Acquisitions Italian gaming giant Lottomatica, after growing its market presence by buying other companies, showed off […]
Industry
October 30, 2024
Labour Government Decides Against Raising the Gambling Tax
Two weeks ago, reports suggested that the new Labour government might be considering a tax hike for the gambling sector. These rumors sent shockwaves across the industry, causing operators’ stock to slump. However, gaming companies can rest easy now as no tax hike is on the horizon. No Tax Hike for the Gambling Sector The […]
Business
October 30, 2024
Better Collective Cuts Team Due to Business Struggles
Jesper Søgaard, Better Collective’s co-founder and chief executive officer, announced his company’s plans to part ways with some of its team members. This difficult decision came amid the company’s recent cost base adjustment and financial targets downgrade. Emotional Days for the Company Søgaard described the past few days as “emotional,” adding that he regrets to […]
