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

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

The National 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 example of a joint-venture between a operator that is tribal a Vegas casino company that provides a style of Las Vegas over the Nevada edge.

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 fourth-best revenue increase in america, growing 4.4 percent to $2.9 billion.

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

Tribes Thinking Big

Well, not so much to Vegas, gaming analysts told the Las Vegas Review-Journal this week, but it’s extremely likely having an effect that is negative the north Las Vegas sector and the Reno and Laughlin areas in particular, forcing those cities to rethink their approach.

Bo Bernhard, executive manager 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 commercial counterparts outside of Ve Weiterlesen

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

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

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

Genting Group Purchases Upstate New York Casino

The other day, it had been reported that the Resorts World Catskills was on the brink of bankruptcy. This week, they will have found a buyer to simply help them move out of economic trouble.

The Genting Group has purchased the Resorts World Catskills from Empire Resorts. The announcement comes less than two weeks after the casino’s parent business considered filing for Chapter 11 bankruptcy. Empire Resorts announced the sale along with regarding the staying shares of its $1.2 billion Las Vegas-style casino in Monticello set to transfer up to the Genting Group into the deal.

The Genting Group had been currently the investor that is largest in this specific casino, owning 86-percent of the shares before they completed their most recent deal. According to reports, the Genting Group purchased the remaining shares at about 15-percent significantly more than their current market value. After its purchase that is latest, Genting Group now has a total of 40 casinos in its portfolio. Year the expectation is that the sale is to be completed at some point before the end of the calendar.

Las Vegas Sands Corp Facing $12 Billion Lawsuit In Mac Weiterlesen