World Gaming Expo

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The last of the four new full-service casinos to open in Upstate New York has a new name: Resorts World Catskills.

The $1 billion project, under construction at the site of the former Concord Hotel in Kiamesha Lake near Monticello in Sullivan County, was initially pitched as Montreign Resort Casino. It is expected to open in early 2018.

The casino and hotel will be operated by Empire Resorts, which recently entered into a licensing agreement with Resorts World, a global casino and resort developer that is part of the Genting Group of Malaysia. Empire currently owns the Monticello Raceway, a harness track and racino in the area.
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Pennsylvania casinos pull in more total gaming revenue than Atlantic City, and nearly a third of what Nevada does each month. And April was yet another strong month for Commonwealth’s 12 gambling destinations.

The dozen casinos collected $285.25 million in April, a 1.44 percent increase compared to 2016. Table games were responsible for the bump, as they set an all-time monthly high by winning $79.5 million, their best 30-day period since the state legalized tables in 2010.

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Melco Crown Philippines Resorts Corp. is the best-performing casino stock in the world this year. To punters playing baccarat at the company’s City of Dreams venue in Manila, that’s no surprise.

“Foreign players have multiplied and they’re mostly Chinese,” said Fernando, 49, a Filipino supply manager who has been gambling at City of Dreams — which boasts gold-tinted windows and a children’s theme park — since it opened officially in 2015. He didn’t want to give his surname. “There are times that you need to wait to get a seat at the tables and when there’s a thick crowd it’s not rare that you’re playing with a Chinese tourist.”

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As the current earnings season starts to wrap up, investors will note that some of the most interesting results this round came out of the gaming and casino industry. Thanks to continued domestic strength and improvements in Macau, casino stocks are finally rolling again.

In fact, the overall gaming industry currently sits in the top 16% of the Zacks Industry Rank, and according to our industry-based data , this group of stocks has returned an average of more than 15.9% year-to-date.

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Macau, the world’s largest casino hub, is expanding into Africa. Macau Legend, led by billionaire and former Macau legislator David Chow, is building a $275 million casino complex in Cape Verde, a set of islands off Africa’s west coast.

The 152,700 square-meter (1.6 million square feet) complex, which will house a resort, casino, office buildings, and a museum in Cape Verde’s capital city of Praia, is now in its first phase of construction. So far, a seawall has been built and construction of the hotel is expected to start soon, according to a Macau Legend spokesperson. The massive complex will be partially built on reclaimed land, area that was once under the sea. It should take at least another two years.

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World-famous comedy star Kevin Hart took his first crack at a major high roller when he played the $100,000 Super High Roller at PokerStars Championship Bahamas in January.

He fired a couple of shells without any luck, but he may have at least learned something from the experience, as he improved his results already on his second try by making Day 2 with above starting stack of the same event at PokerStars Championship presented by Monte-Carlo Casino®.

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Macau-based casino operator Galaxy Entertainment Group Ltd and Monaco casino firm Société des Bains de Mer et du Cercle des Étrangers à Monaco, also known as SBM, announced the formal establishment of a strategic partnership between the two firms. “This partnership includes a mutual commitment… to work together on the development and operation of entertainment businesses including integrated resort projects in the Asia‑Pacific region,” namely in Japan, the firms said in a joint press release.

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The Florida Senate is to put a start to the new gambling legislation negotiations between the members of the House and the Senate on Thursday. The conference is set to kick off at 4 PM today. Six state senators and six state representatives are reportedly to be present at the gambling legislation conference, with the presence of state Senator Bill Galvano, Representative of Branderton, confirmed. It is exactly Galvano who is the conference chairman, considering the fact he is well-seasoned in the matters of gambling legislation. However, it is not exactly clear what would the Senate offer at the conference.

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Casino and café chain owner Hard Rock International has finalized the purchase of the shuttered Trump Taj Mahal casino, a move that allows the company to finally enter Atlantic City’s casino market. Hard Rock will host a press conference on Wednesday, April 5, to shed light on its plans for the property. The casino developer and operator has not disclosed Trump Taj Mahal’s purchase price, but it had formerly confirmed that it would invest over $300 million in the property’s complete redevelopment. Spread over 17 acres of land on Atlantic City’s Boardwalk, the complex will reopen doors for visitors and guests as Hard Rock Hotel & Casino Atlantic City.

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Casino developer and operator Galaxy Entertainment Group (GEG) is planning to complete and launch Phases 3 and 4 of its Cotai Strip property Galaxy Macau by 2018 and 2020, respectively. The company said during a Friday presentation of its annual financial results that the new phases of the massive project will mostly include family-friendly entertainment options and MICE (Meetings, Incentives, Conferences, and Events) facilities.

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