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Golden Entertainment Buys American Casino and Entertainment, Adding Stratosphere in vegas to Gaming Portfolio

Golden Entertainment Buys American Casino and Entertainment, Adding Stratosphere in vegas to Gaming Portfolio

Las Vegas-based gaming distributor and casino conglomerate Golden Entertainment is adding to its holdings, the company announced on Monday. Stratosphere owner American Casino and Entertainment is being snapped up by Golden for an $850 million cost, which includes $781 million on the dining table in money, plus four million shares of the new owner’s stocks right back to the seller.

The Stratosphere has an owner that is new after Golden Entertainment purchased the home along side three other resorts for $850 million in cash and stock.

Once the deal is completed, Golden Entertainment will own eight casino resorts in total, with the best-known coming in the sale through the Stratosphere, which stands 1,149 legs high during the north that is far of the Las Vegas Strip.

Created in Taverns and Supermarkets

The company’s other gaming properties have been in Pahrump, Nevada and Flintstone, Maryland. Also in Golden’s pre-existing portfolio are PT’s Entertainment Group and its more than 50 Nevada-based taverns with gaming, plus the profitable lock on one of the largest gaming device distribution businesses in the US, which brings slot devices to very nearly 1,000 supermarkets in Nevada and Montana.

Upon completion of the deal, Golden Entertainment will operate 15,800 slots, 114 dining table games, and over 5,100 hotel spaces in Nevada. Traded on NASDAQ, shares of Golden Continue Reading →

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Miami Beach Pushes Back Against Casinos, Approves Two Ordinances to Block Gambling

Miami Beach Pushes Back Against Casinos, Approves Two Ordinances to Block Gambling

Miami Beach will probably make it extremely difficult for a casino to take a foothold in the seaside island city. Late week that is last a special meeting, the town payment voted unanimously and only two ordinances that would ban all future efforts to get gambling into Miami Beach.

Miami Beach won’t be welcoming a casino to its shores any time soon, as new town ordinances will block gambling projects from moving ahead.

The state senate’s consideration of expanding gambling and authorizing commercial casinos in South Florida has spurred local governments towards taking their own proactive measures though politicians in Tallahassee failed to reach a new gaming compact with the powerful Seminole Tribe during the 2017 legislative calendar.

Miami Beach first voted in early May to discuss adopting new land-use regulations that bar gambling venues within town restrictions. On May 13, the payment ratified two ‘future land use element’ chapters that mandate that ‘All casino and gambling operations … are hereby prohibited in almost any land usage category inside the populous City of Miami Beach.’

No Miami (Beach) Vice

Miami Beach is famed for the Art Deco roads, scantily-attired sunbathers, and flashy nightlife. Nevertheless when it concerns gambling, it’s no dice for South Beach residents and site visitors.

In an extended report, the commission cited several reasons for voting to block future ga Continue Reading →

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PAGCOR Claims Manila Casino Mass Killing Won’t Hurt Gaming Income, or Influence Martial Law Directive

PAGCOR Claims Manila Casino Mass Killing Won’t Hurt Gaming Income, or Influence Martial Law Directive

PAGCOR, the Philippines Amusement and Gaming Corporation, is none too concerned on the long-term fiscal implications stemming from the recent terror wreaked on Resorts World Manila that left 37 innocent dead.

About that Resorts World Manila attack? Shouldn’t have negative effect on gaming revenue, therefore states PAGCOR Chairwoman Andrea Domingo.

PAGCOR CEO Andrea Domingo told reporters this week that her agency does not expect the country’s casino industry to suffer due to the tragedy.

On June 2, a man reportedly suffering from a severe gambling addiction, entered Resorts World into the money city and lit elements of the gaming flooring burning.

‘As of now, I don’t see any effect on the gaming industry,’ Domingo stated, as reported by Malaya company Insight. ‘Since January, we’re averaging P5 billion ($101 million) a month, to ensure that’s around P25 billion as of May. I think we will find a way to hit the prospective of P60 billion and above.’

The explanation for Domingo’s seemingly unwarranted optimism is that the Resorts World attack isn’t believed to possess been linked to any terroristic organization. Capital Region Police workplace Chief Oscar Albayalde stated the suspect, whom later committed suicide, was heavily indebted to the casino and that ended up being his main motive.

Unrest in Philippines

Even though many Americans feel President Donald Trump is unstabl Continue Reading →

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Singapore Casinos Find Collecting Debts from High Rollers Difficult

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