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Tribal Gaming Growth Hurts Laughlin and Reno, But Vegas Nevertheless Bulletproof, Says Analyst

Friday, February 28th, 2020

Tribal Gaming Growth Hurts Laughlin and Reno, But Vegas Nevertheless Bulletproof, Says Analyst

The National Indian Gaming Commission reported this week that America’s tribal gaming operators collectively generated $31.2 billion in gross gaming revenue, a 4.4 percent increase over 2015.

Harrah’s Resorts SoCal is example of a joint-venture from a operator that is tribal a Vegas casino business that supplies a flavor of Vegas over the Nevada border.

The biggest growth, year over year, for tribal gaming nationwide was the Sacramento, California region, with an increase of 6.3 percent to $8.4 billion. Meanwhile, the Phoenix region exhibited fourth-best revenue increase in the US, growing 4.4 percent to $2.9 billion.

It’s clear Indian casinos in states bordering Nevada are enjoying health that is robust but what impact is this having on the Silver State’s casino sector? Is tribal gaming a hazard to Nevada?

Tribes Thinking Big

Well, not really much to Las Vegas, gaming analysts told the Las Vegas Review-Journal this week, but it’s extremely likely having an effect that is negative the north Las Vegas sector and also the Reno and Laughlin markets in specific, forcing those cities to rethink their approach.

Bo Bernhard, executive director of UNLV’s International Gaming Institute, thinks that the Laughlin and Reno markets have certainly been adversely affected by competition from Indian gaming properties, which are actually matching their commercial counterparts outside of Las V (more…)

Casino News: Group Purchases Resorts World Catskills, Jerry Jones Gets Endorsement

Thursday, January 9th, 2020

Casino News: Group Purchases Resorts World Catskills, Jerry Jones Gets Endorsement

This week’s casino news follows up on an account from last week where in actuality the Resorts World Catskills ended up being nearing bankruptcy. Fast forward for this week in addition they’ve found a remedy for their financial woes.

Genting Group Purchases Upstate Brand New York Casino

The other day, it was stated that the Resorts World Catskills was on the brink of bankruptcy. This week, they have discovered a customer to simply help them get out of financial trouble.

The Genting Group has purchased the Resorts World Catskills from Empire Resorts. The announcement comes lower than two days after the casino’s parent business considered filing for Chapter 11 bankruptcy. Empire Resorts announced the sale with all of the remaining shares of its $1.2 billion Las Vegas-style casino in Monticello set to transfer up to the Genting Group within the deal.

The Genting Group ended up being currently the investor that is largest in this specific casino, owning 86-percent of the shares before they completed their many recent deal. According to reports, the Genting Group bought the remaining shares at about 15-percent more than their current market value. Following its latest purchase, Genting Group now has a total of 40 casinos in its portfolio. Year the expectation is that the sale is to be completed at some point before the end of the calendar.

Las Vegas Sands Corp Facing $12 Billion Lawsuit In Macau

Th (more…)