Caesars Preps for Possible Revel-ation in Atlantic City

Caesars Preps for Possible Revel-ation in Atlantic City

Hail, Caesars Entertainment: the casino business may or may not be eyeing Atlantic City’s Revel as their acquisition that is newest

We question that the Roman emperor himself kept his name center and front since well as Caesars Entertainment Corporation does today. And despite continuing to transport the gaming industry’s debt load that is heaviest hovering at the $24 billion mark, buying and building new properties does not seem to become a issue for this casino conglomerate.

Lately, they are in talks with Japanese leaders to build a potential new casino in Osaka just as gaming is legalized in Japan, and now the latest news, according to some insider reports, is they’ve their attention on Atlantic City’s problem youngster casino, Revel.

Could Revel Be Next on Their List?

Revel officially went into bankruptcy straight back in March 2013; not even 12 months into its once-gloriously touted entrance onto the Atlantic City land gaming that is beleaguered scene. Now anyone interested in snatching the casino up has under two weeks to submit a bid, and according to Bloomberg, Caesars just isn’t a slam dunk because of this acquisition; neither is it even 100 percent particular they will also move to do so.

Other contenders are definitely in the mix; those include Orlando-based rough Rock Global, who the nyc Post last month reported as being in ‘advanced negotiations’ for the purchase. That was following a decision by Hard Roc Continue reading “Caesars Preps for Possible Revel-ation in Atlantic City”

Penn National Partners with Jamul Indian Village for California Casino

Penn National Partners with Jamul Indian Village for California Casino

Nestled in the hills of San Diego County, the Hollywood that is now under-construction Casino is going to be managed by regional operator Penn National (Image: artist’s rendering)

Penn National Gaming is getting into the California market with a casino that is new in partnership with Jamul Indian Village, about 20 miles east of hillcrest. The $360 million development still needs the blessing associated with National Indian Gaming Commission for Penn become approved as its management company, but that is mostly seen as a formality at this true point, and construction has already been underway.

Penn National operates the chi-chi M Resort on the far south end regarding the Las Vegas Strip; the very last casino, in fact, before you head off to Southern California.

Native Compact Place to utilize

To be called the Hollywood Casino Jamul, the new project will make utilization of the Native American tribe’s Ca video gaming compact, held since 1999. The new construction should be three stories and a total of 200,000 square feet once completed. Year it’s expected to open towards the end of next.

Penn National Chief Operating Officer Jay Snowden says the brand new casino will ‘bring to fruition [the Jamul’s] eyesight to revitalize their reservation and be self-sufficient, while simultaneously sharing video gaming revenue with local governments and charities.’

Going up off of San Diego’s State Route 94, one concern had Continue reading “Penn National Partners with Jamul Indian Village for California Casino”

Chinese On Line Lottery 500.com Pays Off Nicely for Investors

Chinese On Line Lottery 500.com Pays Off Nicely for Investors

Chinese online lottery 500.com has entered the New York Stock market, and is apparently winning (Image: Wan Li/China everyday)

Investors in Chinese lottery that is online 500.com Ltd. are off to a happy begin to the New Year; in the six days since its ny Stock market birth, the value associated with company has almost tripled from its initial public offering price of $13.

Winning the Lottery Lottery

As the only lottery that is chinese become listed in the United States, 500.com is one of only a handful of businesses set to enjoy the Chinese government’s whittling down of thousands of private lottery operators, as they permit and regulate the industry to just a little number of firms. Each of these will ultimately be vying for a possible market of over 400 million lottery players in the united states.

‘Over the next 5 years it is extremely clear that the Chinese market will continue steadily to grow quickly and the federal government regulatory regime can be more open and transparent,’ explained 500.com’s primary financial officer Zhengming Pan.

China’s lottery market has taken off remarkably in recent years, thanks to an increase in disposable earnings throughout the country, and a appetite that is national gambling and advancements in gaming technology. Because of this, Asia’s lottery spending reached $23 billion in 2012, while the U.S. the lottery market that is largest in the entire world was still staun Continue reading “Chinese On Line Lottery 500.com Pays Off Nicely for Investors”

Size Matters for Delaware Online Gambling Profits

Size Matters for Delaware Online Gambling Profits

Delaware’s under-a-million population base is not helping the state’s first few months of online gambling revenues

Regarding advocating for on the web gambling, there is one argument that sways states more than anything else: revenue. After hearing about how exactly money that is much potentially nowadays, everyone else wants a bit of the online gambling revenue pie. But in the instance of Delaware, this indicates as if the state will need to settle for the crumbs that are few.

Despite hopes that online gambling might help struggling Delaware land casinos fend off competition from neighboring states, it turns out that the online games have not generated interest that is much far there. During the period of November and December 2013, the sites raised just $253,000 far short of the goals that state and casino officials had set for Delaware’s online gambling projections.

Few Accounts, Fewer Players

Being such a tiny state with a population of under one million, few expected Delaware to split the financial institution when it came with their websites on the internet. But therefore far, only about 4,000 accounts have already been opened on the casino’s websites. The liquidity problem is most obvious when it comes to poker games: according to figures by PokerScout, the Delaware Poker site is only averaging about 20 players for real money cash games over the week that is past. Also at peak hours, the site seldom has a lot more Continue reading “Size Matters for Delaware Online Gambling Profits”