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



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

Harrah’s Resorts SoCal is just example of a joint-venture from a operator that is tribal a Vegas casino company that delivers a style of Las Vegas over the Nevada edge.

The biggest development, year over 12 months, 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 enhance in the US, 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 on the Silver State’s casino sector? Is tribal gaming a hazard to Nevada?

Tribes Thinking Big

Well, not so much to Las Vegas, gaming analysts told the Las Vegas Review-Journal this week, but it’s really likely having an effect that is negative the north Las vegas, nevada sector and the Reno and Laughlin areas in particular, 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 commercial counter Continue reading

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 ended up being bankruptcy that is nearing. Fast forward to the week and additionally they’ve found a remedy with their financial woes.

Genting Group Purchases Upstate New York Casino

A week ago, it had been stated that the Resorts World Catskills was on the brink of bankruptcy. This they’ve found a buyer to help them get out of financial trouble week.

The Genting Group has purchased the Resorts World Catskills from Empire Resorts. The announcement comes lower than two months after the casino’s parent business considered filing for Chapter 11 bankruptcy. Empire Resorts announced the sale along with associated with 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 already the investor that is largest in this specific casino, owning 86-percent of the stocks before they completed their most recent deal. According to reports, the Genting Group bought the remaining shares at about 15-percent significantly more than their current market value. Following its latest purchase, 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 Macau

The Continue reading