Thursday, May 19, 2022

Tag: Finance

Third quarter results pose difficult questions for Atlantic City

Atlantic City Third quarter results questions finance
The third quarter results from the New Jersey Department of Gaming Enforcement have revealed that whilst two new market entrants obviously boosted year-on-year revenues the underlying strength of the market is not in the best of shape. It was supposed to be so easy. The Atlantic City market was on the up and two new market entrants were about to...

Full House Resorts sees small Q3 revenue rise

Full House Resorts, Q3, revenue, finance
Full House Resorts saw a modest improvement in its Q3 results, driven by Mississippi’s Silver Slipper Casino and Hotel. Full House Resorts hailed Q3 2018 as a solid quarter, with the company seeing a modest 0.7 percent rise in net revenues. Full House reported that net revenues for the third quarter increased to $44.0m from $43.7m in the prior-year period. Net...

Lucky Dragon fails to find a bidder

Lucky Dragon, usa, foreclosure, las vegas, finance
Following two foreclosure auctions in September and October, The Lucky Dragon has failed to attract any bidders. The off-strip foreclosed property went up for auction again on 30 October with an opening bid of $35m but while three individuals had pre-qualified to participate, in the end no one put forward a bid. Situated near the north end of the Las Vegas Strip,...

Imperial Pacific applies for second deadline extension

Imperial Hong Kon
Hong Kong-listed Imperial Pacific International (IPI) has confirmed that it is still behind schedule with construction work on its Saipan integrated resort and has formerly requested a second deadline extension. In letter to Commonwealth Casino Commissioner executive director Edward Deleon Guerrero on 23 July, IPI informed the commission that it is unable to meet the 31 August deadline to finish...

Court declares Casino di Campione bankrupt

Casino Smash Smash Festival
A tribunal has ruled that Casino de Campione d’Italia is bankrupt, the decision came after a restructuring plan presented by the casino’s management and the municipal authorities was rejected. In late July, the casino’s manager, Marco Ambrosini, requested that the court suspend its judgement until September, but this proposal was dismissed by judges. The casino - the largest in Europe -...

Widus consider IPO amid ongoing Phillipine expansion

The president and CEO of Widus International Leisure is considering an IPO amid ambitious plans to expand the company’s casino resort in the Clark Freeport Zone into a $1bn project. The operator of Widus Hotel and Casino in the Philippines' Clark Freeport Zone is considering listing its shares on the Philippine Stock Exchange. Han Daesik, president and CEO of Widus International Leisure,...

IAGA announces executive team and board for 2017-18 fiscal year

ICR - IAGA Johannesburg IAGR
The International Association of Gaming Advisors (IAGA) has named its leading officials for the 2017-18 fiscal year.   Laura McAllister Cox of Rush Street Gaming will take the president role of the IAGA, while the vice-presidency will go to MGM Resorts’ John McManus. Thanking her predecessor Michael Cohen, Cox said: “I look forward to taking the reins from Michael on November 1...

Intralot sees revenues up by 15 percent

icr intralot
Intralot, an international gaming solutions and operations provider, saw 15.1 percent revenue growth as it announced its financial results for the six month period ending 30 June, 2017.   Intralot Group CEO Antonios Kerastaris (pictured) said: “Continued double digit revenue growth and profitability improvements are directly linked to reforms implemented in the previous year and more specifically to our M&A and partnership...

Crown toasts ‘solid’ performance in 2016

Casino Review Crown Resorts
As Crown Resorts continues to iron out its global corporate structure, the company said it is well placed to tap future growth both in Australia and overseas. “Crown is in a sound financial position, our balance sheet is strong and we are well positioned to fund our current and proposed development projects,” writes Robert Rankin, chairman of Australia’s Crown Resorts,...

AGEM Index returns to growth in September

Casino Review Association of Gaming Equipment Manufacturers agem
Nine of 13 companies listed on the the Association of Gaming Equipment Manufacturers Index saw their stock price increase in September, with three up by more than 10 percent.   The AGEM Index posted a modest increase in September 2016 after relinquishing 8.29 points in August 2016. The composite index stood at 306.85 points at the close of the month, which...

Parisian Macao: fifth Sands Corp Macau casino open for business

Casino Review Parisian
The fifth Macau casino from Sands Corp is now welcoming customers – with casino mogul Sheldon Adelson hinting that more themed resorts may well be on the horizon.   Yesterday marked the official opening of the Parisian Macao – the new $2.7bn (E2.4bn) integrated resort from the Las Vegas Sands Corporation. The property boasts a half-size replica of the Eiffel Tower, a...

Another strange twist – mediator resigns in Caesars bankruptcy saga

Casino Review Caesars
Joseph Farnan has stepped down from his position of mediation between Caesars and its debtors, after recent criticism levelled by Judge A. Benjamin Goldgar.   The ongoing bankruptcy saga of Caesars Entertainment has grown even more complicated, with the surprise resignation of the man charged with mediating between the casino firm and its aggrieved bondholders. Former Delaware judge Joseph Farnan had been...

AGEM Index enjoys 11th month of like-for-like growth

Casino Review AGEM stocks golden
The collective stock value of the companies on the Association of Gaming Equipment Manufacturer’s monthly Index enjoyed another period of comparative growth in August.   The AGEM Index – the monthly performance review of the trade association’s 14 listed gaming manufacturers – posted a slight decrease in August 2016, after gaining 34.67 points in July 2016. The composite index stood at 286.40...

Macau shows signs of upsurge as recreational gamblers return

Casino Review Macau Revenues G2E May
Macau has broken a 26-month period of decline with a 1.1 percent upswing in revenues, driven in part by a spate of new resort developments.   Casino shares rallied on Thursday after Macau revealed a 1.1 percent rise in gross gambling yield for the month of August – the first signs of an upswing after a 26-month dip. According to data from...