Las Vegas Sands currently generates the majority of its EBITDA from its Macau casinos and has invested $2.7 billion in another Macau resort that is scheduled to open in 2016. Macau wants to keep the number of visitors at current levels though, while the number of hotel rooms is expected to increase by 50% by 2017.
Tag Archives: casino gaming
M&A Update: Market Pressures, Favorable Law Spur REIT Conversions and Spinoffs
Urged on by activists and institutional shareholders, a large number of companies with real estate holdings pursued real estate investment trust conversions or spinoffs in 2014. At least half a dozen companies completed REIT transactions last year, including cell tower company Crown Castle International, which converted into a REIT, and outdoor advertising REIT Outfront Media, which spun off from CBS.
The Scorpions plan to rock you like a hurricane in Las Vegas
Heavy metal rockers the Scorpions celebrate their 50th anniversary with a stop at The Joint at the Hard Rock Hotel with fellow head bangers Queensryche on Wednesday, Oct. 7. German band the Scorpions got its start when a very young Rudolf Schenker founded the band in post-war Hannover. Since, the band is known for hits such as “Rock You Like a Hurricane,” “Send Me an Angel,” “Still Loving You” and “Wind of Change.”
Chadwick Johnson steers his passion from rodeo to supper-club singing
Chadwick Johnson is shown during a team roping session in Sandy Valley. Johnson headlines the Italian American Club on March 18. Chadwick Johnson, shown with cellist Zoe Kohen Ley at Vinyl at the Hard Rock Hotel during a performance in “Mondays Dark,” is at the Italian American Club on March 18. A singer of great merit, Chadwick Johnson has long dreamed of performing in Las Vegas – in the Wrangler National Finals Rodeo.
Source: Louisiana Lottery
According to the audit, the state could get more than $27 million in unclaimed prize revenues on top of its regular share of ticket sale revenues. In order to do that, the audit stated lawmakers should lower the mandated 35 percent share the state receives in gross revenues to 25 percent.
Rascal Flatts Wrap Vegas Residency
Superstar vocal group Rascal Flatts’ Vegas residency wrapped this weekend, following a nine-show run at The Joint at Hard Rock Hotel & Casino. The first-ever country residency to take place at the intimate venue featured show-stopping performances receiving critical praise, with Las Vegas Sun touting it as a “straightforward jam session with one of country music’s biggest acts in the past decade.”
Wynn Resorts battle to oust Elaine Wynn intensifies
Elaine Wynn speaks during a Las Vegas Metro Chamber of Commerce Business Power Luncheon on Wednesday, May 8, 2013, at the Rio. Wynn Resorts today shed more light on its board’s decision to remove Elaine Wynn from its ranks, while she continued campaigning to keep her seat.
GTECH says British court clears merger with IGT
Italian gaming company GTECH said on Monday the High Court of England and Wales had cleared its merger with International Game Technology in one of the last steps before the merger becomes effective on April 7. The new company will have more than $6 billion in pro-forma revenues, GTECH said in mid-2014 when it announced the $4.7 billion acquisition of the Las Vegas-based group.
Rascal Flatts Provides Soundtrack for Bristol Palin's Vegas Engagement
The group dedicated their performance of “Bless the Broken Road” to Bristol and her war-hero boyfriend, Sergeant Dakota Meyer, during their show at the Hard Rock Hotel and Casino in Las Vegas. Dakota then asked Bristol to marry him, and she said yes.
Nasdaq 100 Movers: WYNN, AVGO
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Attention WI dog owners: Your pup can be the face of new lottery scratch-off
Anyone who thinks their pup has what it takes to featured on a statewide scratch-off ticket can submit a current photo of their furry four-legged friend by March 27 at Wisconsin Lottery’s website or Facebook page. The Wisconsin Lottery will open up voting on its Facebook page from March 30 until April 10. The five dogs with the most votes will be featured on the new Top Dog instant scratch-off tickets.
Analysts' Actions: DuPont, King Digital, Seagate and Wynn Resorts
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A look at casino developments in New England
A casino arms race is building in New England. Here’s a look at some recent developments in the region’s ever-changing gambling landscape: Leading lawmakers propose up to three new casinos in the home state of Mohegan Sun and Foxwoods.
Another Fluvanna Man Has Luck With Lottery
Another Fluvanna County man has won a large cash amount from the Virginia Lottery. Construction worker John Barlow bought a ticket that’s good for $150,000 in the Triple the Money scratch game.
Wynn Resorts executive Kim Sinatra the 2015 speaker in Faiss lecture
Wynn Resorts Ltd. General Counsel Kim Sinatra will be the 2015 speaker for the annual Robert D. Faiss Lecture on Gaming Law and Policy at the UNLV William S. Boyd School of Law.
Insider Selling: Alasdair John Scott Douglas Sells 1,600 Shares of Great Canadian Gaming Stock
Great Canadian Gaming insider Alasdair John Scott Douglas sold 1,600 shares of Great Canadian Gaming stock on the open market in a transaction dated Friday, March 13th. The stock was sold at an average price of C$22.95, for a total value of C$36,720.00.
Silicon Valley Patent Office to start hiring examiners next month
Alexandra Sepulveda, associate general counsel at Kabam, noted an increase in legal activity by non-practicing entities in the social gaming industry. The U.S. Patent and Trademark Office branch that’s preparing to open in Silicon Valley will start recruiting for up to 80 patent examiners next month.
Wall Street's Macau delusion has really gone far enough
A newly-wed couple from South Korea waves with Sheldon G. Adelson, Chairman of the Board and CEO Las Vegas Sands Corp and his wife Miriam Adelson during an opening ceremony at the Venetian in Macau August 28, 2007. President Xi has made it clear he doesn’t want Chinese mainlanders gambling, Macau gambling revenue during the Lunar New Year disappointed, and the island’s economy shrank by 17% in the Q4 2014 without the government as much as batting an eyelash.
Game developer sues IGT, alleges violation of licensing agreement
Game developer High 5 Games said slot machine giant IGT – International Game Technology violated numerous conditions of a licensing agreement and failed to pay the company royalties from gambling features used on 81 different game titles. In a lawsuit filed Tuesday in U.S. District Court in Chicago, New York-based High 5 Games said IGT used its licensed game features on some of the manufacturer’s more popular slot machines.
Friday The 13th And Lotto Millions
Today is Friday the 13th and Michigan Lottery officials say the supposedly unluckiest of days has been a particularly lucky date for Lottery players. Since 2009, 11 players and one lottery club have won more than $95.5 million in big prizes playing the multi-state Mega Millions game.