Playboy to Cut More Jobs in Bid to Restructure
Playboy Enterprises is downsizing again as it continues its transition from a lifestyle and media business into a brand-management company. The company expects to save more than $3 million annually.
casino
Casino Industry Ends Its Losing Streak
The U.S. casino gaming market is finally improving, according to a recently released report from Moody's Investor Services. After more than two years of negative outlooks, Moody's has changed its view to neutral and recognizes "signs [that the] industry has bottomed out."
Does the Mohegan Tribe Need a Big Government Loan?
In spite of the fact that Connecticut's Mohegan Indian tribe's Mohegan Sun Casino ranks among the most successful gambling operations on the East Coast, the USDA granted it a $54 million loan.
Trump's Win in Atlantic City Is Far From a Victory
The battle between Donald Trump and Carl Icahn over control of the addled Trump Entertainment Resorts and its Atlantic City casinos is over, with a bankruptcy court declaring Trump's group the winner. But Trump may have gotten himself into a losing a proposition.
Steve Wynn Abruptly Exits From Philadelphia
Last week, Wynn met with Philly's mayor about the former Foxwoods Casino. By the meeting's end, he said "the deal is done." But within a matter of days, Wynn backed out of the agreement -- and no one knows exactly why.
Las Vegas Strip Has a Winning Streak in February
The Las Vegas gambling industry seems to have some fight left in it. Following a seemingly endless run of negative months, gambling revenues on the Las Vegas Strip jumped 33% in February to $568 million from $427.4 million a year ago, according to WHO TK. Casino operators have their Chinese patrons to thank for the fortunate turn of events.
Casino Mogul Wynn Raises the Stakes in Philly
When Steve Wynn first proposed taking over the stalled Foxwoods casino project in Philadelphia, he said his version would be "cute." Now he is promising a gambling hall that will be "Wynn top to bottom."
Morgan Stanley Walking Away from Revel Casino
Morgan Stanley has decided to cut its losses in Atlantic City. The investment bank is selling its stake in the Revel casino and taking a "substantial loss," one that some analysts estimate could amount to $800 million to $1 billion.
Will Casino Have to Make Good on Slot 'Error'?
While playing the slots at Fortune Valley Casino in Colorado, Louise Chavez thought she had won close to $43 million. But the casino said no, claiming the slot machine she used was broken. Does Chavez have a shot at getting her winnings back? Las Vegas lawyers are doubtful.
Las Vegas Struggles to Save the 'Whales'
Vegas casinos covet the "whale": a lucrative loser, lured by penthouse suites and transport by private jets to blow big money at the tables. But in this economy, deep-pocketed players are getting shrewd about how -- and where -- to lose a fortune.
Angry MGM Tries to Sell Casino in Poor Atlantic City Market
MGM Mirage is trying to sell the Borgata, after state officials deemed its Macau partner Pansy Ho as "unsuitable." The sale would come while Atlantic City is trapped in a downward spiral as neighboring states step up their gambling efforts. But A.C. won't go down without a fight.
