Delaware Brick-and-Mortar Casino Sector Advisory Board Holds State’s Fate, While Keeping Cards Close

Delaware Brick-and-Mortar Casino Sector Advisory Board Holds State’s Fate, While Keeping Cards Close

The Delaware land-based casino sector has been struck hard by increased competition from brand new areas in neighboring states, as the newer and shinier casinos of Pennsylvania and Maryland outperform its three struggling, and highly taxed, racinos.

Dover Downs is Delaware’s biggest and just publicly traded racino, but high domestic taxes and increased competition throughout the state line means hard times for the home and the state’s two other racinos.

The sector, which comprises Harrington Raceway, Dover Downs, and Delaware Park, peaked in 2006, the Pennsylvania began issuing its first casino licenses, when slot revenues hit more than $650 million year. By 2016, slots and table revenues combined had plunged to $398 million.

Meanwhile, outfall from the brand new MGM National Harbor, which exposed in Maryland late last year, stands poised to be the final nail in the coffin. That property caused other casinos in Maryland and West Virginia to ramp up their own advertising drives, drawing even more customers away from Delaware’s ailing properties.

The three racinos cannot compete simply because they spend higher state taxes than their counterparts across the edge, and they’re begging legislators for help.

Taxed From the Market

This the Delaware’s Video Lottery Advisory Council (VLAC) met to discuss the status of Diamond State’s three casinos week. The council is tasked with advi Continue reading “Delaware Brick-and-Mortar Casino Sector Advisory Board Holds State’s Fate, While Keeping Cards Close”

Macau Casino Stocks Plunge with VIPJunket Ops in Beijing’s Anti-Corruption Crosshairs

Macau Casino Stocks Plunge with VIPJunket Ops in Beijing’s Anti-Corruption Crosshairs

Investors folded on Macau casino shares after Suncity Group, the location’s VIP junket company that is biggest, reportedly warned its employees to take extra caution when moving money to the Chinese enclave where gaming is permitted.

Billionaire Steve Wynn had been one of many casino magnates whom destroyed money on Monday, as Macau casino stocks dipped on continued uncertainty about the future of VIP junket operators. (Image: Vincent Yu/Associated Press)

Wynn Macau, traded on the Hong Kong Stock Exchange, destroyed almost five per cent of its share price regarding the news. Galaxy Entertainment was down more than three percent, and MGM China, Sands Asia, and SJM Holdings all saw their valuations dip by at least two %.

According to Barron’s, a newspaper that is financial investors are fleeing on concerns that China’s anti-corruption campaign is soon to target VIP junket operations, for years a crucial part of drawing high-stakes players to various Chinese casinos. President Xi Jinping has been trying to stop the movement of money from the mainland to Macau, a former Portuguese territory that is today a tax haven where casinos routinely appeal to the Asian elite.

‘Investors are worried that the Suncity warning could preclude another crackdown on the industry,’ Barron’s columnist Daniel Shane penned.

Suncity Group warned employees recently to take extra precautions when going cash to and from Continue reading “Macau Casino Stocks Plunge with VIPJunket Ops in Beijing’s Anti-Corruption Crosshairs”

Barbara Sinatra, Frank’s Fourth Wife and Icon of Vintage Vegas, Dies at 90

Barbara Sinatra, Frank’s Fourth Wife and Icon of Vintage Vegas, Dies at 90

Barbara Sinatra, wife of iconic entertainer Frank Sinatra and one of the links that are last vintage Las Vegas, passed away Tuesday at age 90. She had been in decreasing health the last few months and died of natural reasons, surrounded by family inside her home in Rancho Mirage, Ca.

Philanthropist Barbara Sinatra, a former showgirl and Frank Sinatra’s 4th spouse, died Tuesday at age 90.

While her third husband was famous for their shows on the Strip, appearing with fellow singers Sammy Davis, Jr., and Dean Martin as part of the recognized Rat Pack, she too had a strong relationship with the Sin City and its glamorous casino image.

A model who won a beauty contest in Long Beach, California, Sinatra arrived to Sin City to work as being a showgirl during the Riviera. There she came across Zeppo Marx, who she married in 1959. The 2 would fundamentally settle down in Rancho Mirage, the toney desert town 120 kilometers east of la.

Fulfilling Ol’ Blue Eyes

With Marx’s connections, Barbara soon started socializing with many of the Hollywood elite. One of her neighbors was Sinatra. The two started a friendship after he asked her to relax and play tennis with his ex-wife, Ava Gardner.

For years, the two stayed nothing but friends, in accordance with Hollywood biographers. She was still married to Marx once they met, and the two, along side Sinatra and then-wife Mia Farrow, would travel to Las often Vegas t Continue reading “Barbara Sinatra, Frank’s Fourth Wife and Icon of Vintage Vegas, Dies at 90”

New Jersey Casino Expansion Losing Support Among Garden State Voters, Atlantic City Sues State

 New Jersey Casino Expansion Losing Support Among Garden State Voters, Atlantic City Sues State

Governor Chris Christie supports a New Jersey casino expansion referendum, but it’s not so popular with voters who will have the say that is final November.

Nj casino expansion has the backing of numerous key state lawmakers including Governor Chris Christie (R), but unless the majority of Garden State residents help bringing casinos north, Atlantic City will preserve its gambling monopoly.

A poll that is recent by the Rutgers-Eagleton Institute of Politics found that just 44 percent of voters believe gambling enterprises is allowed in jurisdictions outside of Atlantic City, while 49 percent think gambling should remain restricted to the southeastern beachfront metropolis.

That is clearly a stark contrast to earlier polling that suggested New Jerseyans favored ending Atlantic City’s gaming exclusivity.

Along with selecting a new US president in November, voters in New Jersey will also be challenged with deciding whether to amend their state constitution to allow the construction of additional gambling facilities in northern counties of the state.

AC Techniques All-In

Atlantic City is broke and in debt, yet its local government is continuing to spend as if it is the early 2000s and the neighborhood economy is nevertheless flourishing with revenues aplenty.

Christie and State Senate President Stephen Sweeney (D) have advocated for the continuing state to assume control associated Continue reading “New Jersey Casino Expansion Losing Support Among Garden State Voters, Atlantic City Sues State”

Casino News: NHL Expansion, Las Vegas Casino Revenues, MGM Grand Sale september

Casino News: NHL Expansion, Las Vegas Casino Revenues, MGM Grand Sale september

This week’s casino news starts us off by having a whole story in regards to the NHL’s newest franchises getting associated with gambling. We range from the Las Vegas casino profits for September 2019, along with an improvement regarding the sale that is impending of MGM Grand by MGM Resorts.

The expansion that is NHL for Seattle is regarding the verge of signing a handle the Muckleshoot Casino in Washington state. Seattle Hockey Partners — made up of TPG Capital’s David Bonderman, Hollywood producer Jerry Bruckheimer (Flashdance, Top Gun, Black Hawk Down, Pirates of the Caribbean), and Tod Leiweke (ex-Seattle Seahawks CEO) — has the expansion franchise. The group has no name at this time, but is anticipated to announce an official name by the 2019-2020 NHL All-Star Weekend.

Will the groundbreaking casino partnership pave the way for more casino-hockey relationships down the road?

Expansion NHL Franchise Partners With Tribal Casino In Seattle

The NHL expansion franchise that will be based in Seattle will not simply take the ice for the first time until the season that is 2021-22. However, they are currently making some company deals because the ownership group of the franchise has struck a partnership with a tribal casino in Washington. The Muckleshoot Casino in Auburn, which is found simply 40 minutes south of Seattle, will be the casino that is official of the team and the KeyArena in Seattl Continue reading “Casino News: NHL Expansion, Las Vegas Casino Revenues, MGM Grand Sale september”