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Macau Coronavirus Outbreak Could Have Negative Credit Implications
A resurgence of coronavirus cases in Macau could weigh on the already fragile credit profiles of casino operators, says Moody’s Investors Service. On Tuesday, nine new COVID-19 cases were reported in the...
Macau Casinos Sign Contract Extensions, New COVID-19 Cases Climb to 115 Infections
Macau's six casino operators have each signed six-month extensions that allow them to continue facilitating games of fortune through December 31, 2022. Macau is finalizing its next regulatory law that will govern...
Atlantic City Officials Urge Casinos to Increase Wages, Avoid Union Strike
The Atlantic City Council this week passed a resolution calling on the town's nine casinos to adhere to the union's primary demand of higher wages for resort workers. The City Council last...
Geoff Freeman, Former American Gaming Assn. CEO, to Lead US Travel Assn.
Former American Gaming Association (AGA) CEO Geoff Freeman helped transform the US gaming industry by successfully petitioning the Supreme Court to review the longstanding federal sports betting ban in 2018. The nation's...
Kansas Eyes NFL Season for Sports Betting Launch, Governor Says Don’t Bet on Chiefs Move
The recently signed Kansas sports betting legislation goes into effect on July 1, potentially positioning the state to be ready for the start of the 2022 NFL season. Speaking of the NFL,...
NY Online Sportsbooks Petition for Lower Tax, Argue 51 Percent Far Too High
Some New York online sportsbooks are having a bit of buyer's remorse. That's after discovering the difficult regulatory conditions imposed on their mobile operations. New York's sports betting law levies the highest...
Caesars Earns Overweight Rating in New JPMorgan Coverage
Shares of Caesars Entertainment (NASDAQ:CZR) are enjoying a modest bounce today. That's after JPMorgan analyst Joseph Greff restarts coverage of the casino operator with a bullish call. In a note to clients,...
PointsBet Sells Nearly 13 Percent Stake to SIG Sports in $65.5M Transaction
Australian-based PointsBet announced on Monday (Sunday night US time) that it received a substantial investment from a division of Susquehanna International Group (SIG) of Companies that will make the US company the...
Las Vegas Sands Stripped of Investment-Grade Rating by Fitch
Amid a slower-than-expected recovery in Macau, Las Vegas Sands (NYSE:LVS) is the latest casino operator to see its investment-grade credit mark pulled by a major ratings agency. Fitch Ratings recently downgraded the...
Russell Wilson Free Play Prediction Game Gets Gaming Firm Funding
A sports technology company cofounded by NFL star quarterback Russell Wilson has closed on a $4 million round of seed funding. The money came from an online gaming-focused venture capital firm co-founded...