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Tribal Gaming Growth Hurts Laughlin and Reno, But Vegas Nevertheless Bulletproof, Says Analyst

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The nationwide Indian Gaming Commission reported this that America’s tribal gaming operators collectively generated $31.2 billion in gross gaming revenue, a 4.4 percent increase over 2015 week.

Harrah’s Resorts SoCal is merely exemplory case of a joint-venture between a operator that is tribal a Vegas casino business that provides a red baron slot style of Las Vegas across the Nevada border.

The growth that is biggest, year over year, for tribal gaming nationwide was the Sacramento, California region, with an increase of 6.3 percent to $8.4 billion. Meanwhile, the Phoenix region exhibited revenue that is fourth-best in america, growing 4.4 percent to $2.9 billion.

It’s clear Indian casinos in states bordering Nevada are enjoying health that is robust but what impact is this having in the Silver State’s casino sector? Is tribal gaming a danger to Nevada?

Tribes Thinking Big

Well, not so much to Vegas, gaming analysts told the Las Vegas Review-Journal this week, but it is really likely having an effect that is negative the north Las vegas, nevada sector as well as the Reno and Laughlin markets in specific, forcing those cities to rethink their approach.

Bo Bernhard, executive director of UNLV’s International Gaming Institute, thinks that the Laughlin and Reno markets have certainly been adversely affected by competition from Indian gaming properties, which are now actually matching their comm Read More

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

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

This week’s casino news follows up on a tale from a week ago in which the Resorts World Catskills was nearing bankruptcy. Fast forward to this week plus they’ve found a remedy with their financial woes.

Genting Group Purchases Upstate New York Casino

The other day, it was reported that the Resorts World Catskills was on the brink of bankruptcy. This week, they have discovered a customer to help them escape of monetary trouble.

The Genting Group has bought the Resorts World Catskills from Empire Resorts. The announcement comes lower than two days 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 over to the Genting Group in the deal.

The Genting Group ended up being currently the investor that is largest in this particular casino, owning 86-percent of the shares before they completed their most recent deal. According to reports, the Genting Group bought the remaining shares at about 15-percent a lot more than their current market value. As a result of its latest purchase, Genting Group now has a total of 40 casinos in its portfolio. The expectation is the fact that the sale is to be finished at some point ahead of the end for the season.

Las Vegas Sands Corp Facing $12 Billion Lawsuit In Macau

The Las Vegas Sands Read More