Niagara Falls, the New York tourist mecca caught in the middle of a $600 million casino dispute between the state and the Seneca Nation of Indians, may run out of cash as soon as November. Investors are pushing the city’s borrowing costs to a 10-month high.
Revel AC Inc., owner of an Atlantic City, New Jersey, casino, won court approval to exit bankruptcy under a deal with creditors that cuts debt and gives them ownership of the resort just 13 months after it opened.
International Game Technology Chairman Philip Satre, locked in a fight over board seats, said the world’s largest slot-machine maker has to invest online because young people don’t gamble as much as their parents.
Hard Rock International Inc., the operator of hotels, casinos and themed bars, bought an equity stake in the New Meadowlands Racetrack LLC, as it seeks to gain from the site’s expansion and possible gaming developments.
MGM China Holdings Ltd., a Macau casino venture between MGM Resorts International and casino mogul Stanley Ho’s daughter Pansy Ho, posted a 9.7 percent rise in first-quarter profit as mainland visitors spent more.
International Game Technology, the world’s largest slot-machine maker, posted a 26 percent increase in second-quarter profit, exceeding analysts’ estimates as orders picked up and social-gaming revenue grew.
John Lolley wanted to try his luck. So he made the almost hour-long drive from his home in Hagerstown, Maryland, to the Hollywood Casino in Charles Town, West Virginia, joining dozens of other residents of his state to drop coins into slot machines or wager at the card, craps and roulette tables.
Aristocrat Leisure Ltd. , the world’s second-biggest maker of slot machines, infringed patents with its Viridian WS machines, International Game Technology , the largest manufacturer, claimed in a lawsuit.