Casino News: Encore Boston Harbor Revenues, Vegas Casino Sues Evander Kane

Casino News: Encore Boston Harbor Revenues, Vegas Casino Sues Evander Kane

This week’s casino news includes revenue that is disappointing from Encore Boston Harbor and the Macau casino industry. Our news report also contains the Cosmopolitan Las Vegas suing an NHL player for unpaid gambling debts. When it was approved by Massachusetts voters in 2012, Encore Boston Harbor was sold to the public as a fix for the commonwealth’s revenue shortages.

There had been large amount of hype about the city of Boston getting a casino but the locals have already been tepid in terms of visiting it. We will begin with that story once we recap this week’s casino news.

Encore Boston Harbor Falls Far Short Of Expectations in 1st Year

There were massive objectives for the Encore Boston Harbor when it first started earlier this present year but as we approach the conclusion associated with calendar year, it looks like they’ll miss out on the goals.

The Encore Boston Harbor is on speed to fall nearly $100 million shy of its projections that are first-year. The casino resort, which are priced at $2.6 billion to build, still made $175.8 million during its first quarter that is full of, so that it’s not as if anyone is complaining. However, while that number is impressive, it nevertheless puts Encore Boston Harbor on pace to fall $100 million short of its projected $800 million revenue for the season. Of course, that projection doesn’t take in to account that the revenues for the company could Continue reading “Casino News: Encore Boston Harbor Revenues, Vegas Casino Sues Evander Kane”

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

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

This week’s casino news follows up on a tale from last week where the Resorts World Catskills was nearing bankruptcy. Fast forward to the week plus they’ve found a solution for their financial woes.

Genting Group Purchases Upstate Brand New York Casino

A week ago, it was stated that the Resorts World Catskills was on the brink of bankruptcy. This week, they will have discovered a buyer to aid them escape of economic trouble.

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

The Genting Group was already the largest investor in this particular casino, owning 86-percent of the shares before they completed their many recent deal. According to reports, the Genting Group purchased the remaining shares at about 15-percent more than their current market value. Following its purchase that is latest, Genting Group now has a total of 40 casinos in its portfolio. The expectation is that the sale will be completed at some point ahead of the end for the twelve months.

Las Vegas Sands Corp Facing $12 Billion Lawsuit In Macau

The nevada Sands Corporation is dealing wi Continue reading “Casino News: Group Purchases Resorts World Catskills, Jerry Jones Gets Endorsement”