World's online gaming authority since 1995

Financial News

Money makes the world go around and we take a look at how it keeps the gambling world spinning. Whether it relates to mergers, buyouts, financial disasters, or gaming companies becoming more solid, we have it in this category.

Many might think the subject a little dry, but it’s always good to know the financial status of any gambling site you are playing at. Ignore it, and you might find that withdrawing your winnings becomes difficult – because the site no longer has any cash!

William Hill Sees Red Following Australian Regulatory Changes, Hopeful for US Sports Betting Market Expansion

William Hill Australia write-down

UK betting giant William Hill posted has a £74.6 million ($104 million) pre-tax loss for 2017, due in large part to the write-down of its Australian operations. William Hill Australia has been negatively impacted by the country’s ban on credit betting, which came into force earlier this month. This has led the group to dramatically…Read More

Seneca Nation Dispute: Niagara County Urges New York State Legislature to Resolve Compact Discord

Niagara County Seneca casino New York

The ongoing gaming compact dispute with the Seneca Nation of Indians has become problematic, and Niagara County officials are calling on the New York Legislature and Governor Andrew Cuomo (D) to swiftly find a solution to the conflict. Next month will mark one year since the tribe stopped revenue sharing payments to the state. The…Read More

Boyd Gaming Posts Record 2017 Revenues But Shares Plunge on Q4 Profits

Boyd Gaming CEO Kevin Smith

Despite posting record revenues of $2.38 billion for 2017 on Tuesday, Boyd Gaming stock had slipped 5.7 percent by the end of trading that day. Investors, it seems, are a tough bunch to please – as are analysts. The dip occurred because adjusted Q4 earnings came in lower than analysts’ expectations. Meanwhile, the company’s own…Read More

Las Vegas Sands Wins Fourth Pennsylvania Satellite Casino Auction, Selects Location Near Ohio Border

Las Vegas Sands Pennsylvania satellite

Las Vegas Sands could soon have as many gaming floors in Pennsylvania as it does in Nevada. The parent company to The Venetian and Palazzo won the fourth of 10 satellite casino auctions in Pennsylvania on Wednesday, with the winning bid totaling $9.9 million. Sands selected a 15-mile radius in Mercer County, which sits in…Read More

Showboat Atlantic City Mulling Casino Return, as Boardwalk Revitalization Continues

Showboat Atlantic City casino hotel

Showboat Atlantic City owner Bart Blatstein has taken the first step in reopening the casino floor at the Boardwalk property. One of four casinos to close in 2014, Blatstein acquired the Showboat for $23 million in January of 2016. The resort opened as a non-gaming hotel that June, with 872 guestrooms. The Press of Atlantic…Read More

Japan Casino Tax Could Hit 50 Percent, Operators Might Be Deterred by Excessive Regulatory Controls

Japan casino tax integrated resort

A Japan casino tax will be higher than gaming rates found in other parts of Asia, including Macau. It would dwarf those paid by Las Vegas casinos, where the effective rate is only 7.75 percent, and it could backfire on the country’s goals of building casinos to begin with: to expand tourism. According to The…Read More

Las Vegas in Running to Host 2020 NFL Draft, 2023 Super Bowl

Las Vegas NFL Draft Super Bowl

Las Vegas is on the shortlist to host the 2020 NFL Draft. If America’s gambling capital is selected, the event would coincide with the scheduled arrival of the Raiders franchise in Sin City. Las Vegas is one of five candidate cities for the 2019 and 2020 NFL Draft. The other nominees are Nashville, Cleveland/Canton, Kansas…Read More

Japanese Lawmakers Propose Restricting Casino Visits For Nationals

Lawmakers propose limiting visits to Japanese casinos

Lawmakers in Japan tasked with drawing up a framework of regulation for the country’s future casino market presented a plan on Thursday designed to restrict Japanese nationals’ exposure to gambling. Under the proposal, Japanese citizens and foreigners living in the country would be limited to three visits to casinos in one week and a maximum…Read More

Okada Manila and Wynn Litigation Lead to $125.4 Million Loss for Universal Entertainment Corp

Kazuo Okada and Universal Entertainment

Japan’s Universal Entertainment Corporation posted a net loss of $125.4 million for the first three-quarters of the financial year, somewhat short of the $141 million profit it predicted in May 2017. The company cited expenses related to the completion of Okada Manila, its integrated casino resort in the Philippines’ Entertainment City, the total construction costs…Read More

Connecticut Foxwoods and Mohegan Sun Casinos Start 2018 Sluggishly

Connecticut casinos Foxwoods Mohegan Sun

Tribal Connecticut casinos Foxwoods and Mohegan Sun kicked off January with a less-than-amazing month, as slot revenue was down at both properties. After paying out winnings, Foxwoods kept $33.9 million from the gaming terminals, a 2.5 percent decrease compared to the same month in 2017. Mohegan Sun won $44.9 million, which equates to 5.3 percent…Read More

DFS Heavyweights DraftKings and FanDuel Packing Less Punch, as Sports Betting Opinions Change

DraftKings FanDuel sports betting

DraftKings and FanDuel, the two online daily fantasy sports (DFS) platforms that took 97 percent of the bets placed on the contests in 2017, are struggling to grow revenues.  That’s according to Eilers & Krejcik Gaming, a market research firm in California, that details the struggling DFS industry. A subset of fantasy sports, DFS was all the…Read More

Atlantic City Casinos Feel the Chill for January with Gaming Revenue Drops of 10 Percent, Blizzard Blamed

Atlantic City casino revenue

Atlantic City casinos saw gross gaming revenue skid 9.9 percent in January due to a severe blizzard that blanketed parts of southern New Jersey last month with up to two feet of snow shortly after the new year arrived. With travel nearly impossible after the January 4th storm, fewer gamblers made their way to the…Read More

George Soros Now One of Top Caesars Shareholders, Owns 4.9 Percent of Gaming Company in Bankruptcy Aftermath

George Soros Caesars Entertainment

Billionaire investor George Soros, through his family-controlled Soros Fund Management group, owns nearly five percent of Caesars Entertainment following the company’s Chapter 11 bankruptcy reorganization last fall. According to Bloomberg, the billionaire’s stake makes him one of Caesars’ Top 10 shareholders, with the holdings valued at $436 million. Soros also owns seven percent in VICI…Read More

New Jersey Voters Favor Atlantic City Retaining Casino Monopoly, New Poll Finds

New Jersey voters casino referendum

New Jersey voters do not want to end Atlantic City’s monopoly on casinos and allow gambling resorts to come to northern parts of the state. That’s according to a new poll paid for by Trenton’s Bad Bet, an anti-gambling group. Likely voters were asked about the ways they support increasing funding for the state. By…Read More

US Gross Gaming Revenue Nearly $41.2 Billion in 2017, as Casino Expansion Continues

gross gaming revenue US casinos

Gross gaming revenue at US commercial casinos totaled roughly $41.2 billion last year, according to Reno-based market analyst Ken Adams. In his 2017 Adams Revenue Report, prepared for online gaming media outlet CDC Gaming Reports, the financial analyst says continued casino expansion across the US is responsible for the 3.7 percent year-over-year increase. Adams pointed…Read More