Stockbridge Capital Group is buying business partner Sam Nazarian's 10% stake in SLS Las Vegas and taking 100% ownership of the property as a result. Stockbridge director Terry Fancher says the deal will allow the hotel and casino more flexibility in terms of changing out brands and restaurants.
Operators of casinos and hotels in southern Nevada want state regulators to compel Nevada Power to offer alternatives to its proposed $965 million gas plant. The operators are among several groups concerned about the rate impact of the 707-megawatt project, which Nevada Power is currently exploring after announcing it will end its purchase agreement with an Arizona plant in 2017.
Revenues at the nation's tribal casinos increased by 116% between 2001 and 2013, dwarfing the 41% increase reported by the commercial gaming industry, according to two Casino City reports. Native American tribes in California represented a quarter of the $28.3 billion industry total in 2013, according to the 2015 Indian Gaming Industry Report, while the Las Vegas Strip and other Nevada venues generated 12% of the commercial gaming sector's $96.4 billion in 2013 revenues, according to the 2015-16 North American Gaming Almanac.
Genting UK will open its $229 million Resorts World Birmingham casino resort in the English Midlands Oct. 21. The first phase of the opening, featuring restaurants, bars and stores, will be followed by the casino opening Oct. 26 and the hotel opening Nov. 2. Genting UK is a unit of Genting Malaysia Bhd., which also operates casinos in the US, Malaysia and the Bahamas.
New versions of slot machines and other games aimed at millennials were highlighted at last month's Global Gaming Expo. New board- and video-inspired games from Gamblit Gaming and Nanotech Gaming rely more on players' skill than most current casino games, while seminars featuring popular e-sports and fantasy sports were among the expo's hottest tickets.
The Biloxi, Miss., city council agreed to extend a roadway in East Biloxi as required for financing of the planned $260 million Biloxi Pointe Casino. Developers of the casino complex, which will include a hotel and entertainment and convention center, will contribute $7 million to the estimated $22 million road project once financing is in place. The Biloxi Pointe will be the city's ninth casino.
The Philadelphia Planning Commission approved a plan for a second casino in the city. The $400 million casino proposed by Cordish Cos. and Greenwood Racing would include 125 table games and more than 2,000 slot machines. The first casino in Philadelphia, SugarHouse Casino, opened in 2010.
Chinese President Xi Jinping has implemented a crackdown on VIP gamblers in Macau, which has led to a steep drop in gaming revenue. However, the long-term benefits could be positive, columnist Andrew Browne writes. "In the long run, a cleaner business environment should lower the cost of transactions for all players, including foreign investors, and help level the playing field," Browne writes.
Foxwoods Resort Casino in Connecticut has come to an agreement with Greentube Pro for social casino games. The games, available online and on mobile devices, will feature the Foxwoods name.
The Mashantucket Pequots and the Mohegans signed a memo of understanding with the state of Connecticut over revenue sharing for keno. Each tribe will receive 12.5% of gross operating revenue from the game.
- Page 1