The Government Tourism Office in Macao will poll visitors, travel-related businesses and residents about whether to add a tourist tax and how to spend resulting revenue. The concept is still in the early stages, with no details laid out yet.
Union Gaming Securities Asia analysts expressed concern that the region's level of economic growth cannot support the planned $65 billion in casino development. "The reality is that the current pipeline in just the existing markets (forget about Japan for now) requires EBITDA in Asia to literally double. ... The math simply doesn't work from a GDP perspective (excepting Japan)," the analysts write.
Complexity Gaming's 11,000-square-foot headquarters in Frisco, Texas, is designed to make esports participants feel like professional athletes. It features training areas that simulate competition venues, plus a lab, Mind Gym, Decompression Porch and more.
Wynn Resorts CEO Matt Maddox has been in talks with MGM Resorts CEO Jim Murren about a possible sale of Massachusetts' Encore Boston Harbor, which is slated to open next month after a long battle to retain its license in the wake of a scandal related to co-founder Steve Wynn. "Our conversations will not impact the jobs at our facilities and will not impact the opening of Encore Boston Harbor," the two companies said.
In a quarterly Securities and Exchange Commission report, MGM Resorts said it could pay as much as $800 million to settle a host of lawsuits stemming from the October 2017 mass shooting, pointing to May 2020 as a possible settlement date. However, a lawyer for the plantiffs says the two sides "have a long way to go before we have an agreement."
Foreigners who each invested more than $500,000 in Las Vegas' Lucky Dragon casino in exchange for green cards that never materialized want their money back. The casino shuttered last year and was seized after foreclosure, but investors who contributed through the EB-5 immigration program are fighting the loss of both their money and the visa promises.
After the UK Gambling Commission revealed that more than one-third of online casinos available in Britain are not protecting customers from money laundering, a leader of the Labour Party said all online operators should have to reapply for licenses. Last week the commission said it plans to fine four operators a total of $5.7 million for failing to safeguard players.
The Seminole Hard Rock Hotel & Casino in Tampa, Fla., will host a job fair June 4-5 as it seeks about 1,200 more employees as part of its $700 million expansion.
The mayor of Rockford, Ill., is eager to gain state approval for a casino project, citing a competing tribal casino project in nearby Beloit, Wis. "We cannot afford to be outflanked by our neighbors up north yet again," Rockford Mayor Tom McNamara said.
Gaming companies could benefit from expanded coverage of betting by Fox and ESPN. "We are still in the early innings in overall legal sports betting, but the market does look like it will be significant for casino operators," according to analyst Brian McGill.