Casino News: Encore Boston Harbor Revenues, Vegas Casino Sues Evander Kane

Casino News: Encore Boston Harbor Revenues, Vegas Casino Sues Evander Kane

This week’s casino news includes revenue that is disappointing from Encore Boston Harbor and the Macau casino industry. Our news report also contains the Cosmopolitan Las Vegas suing an NHL player for unpaid gambling debts. When it was approved by Massachusetts voters in 2012, Encore Boston Harbor was sold to the public as a fix for the commonwealth’s revenue shortages.

There ended up being large amount of hype about the city of Boston getting a casino but the locals have been tepid with regards to visiting it. We will begin with that whole story once we recap this week’s casino news.

Year Encore Boston Harbor Falls Far Short Of Expectations in 1st

There were massive expectations for the Encore Boston Harbor when it first opened earlier this year but as we approach the finish for the calendar year, it looks like they’ll miss out on the goals.

The Encore Boston Harbor is on speed to fall nearly $100 million shy of its first-year projections. The casino resort, which cost $2.6 billion to build, still made $175.8 million during its first full quarter of operation, so it’s not as if anyone is whining. Nonetheless, while that number leo vegas online casino is impressive, it nevertheless puts Encore Boston Harbor on pace to fall $100 million short of its projected $800 million revenue for the entire year. Of course, that projection doesn’t take in to account that the revenues for the company could continue to fall short of i Читать/смотреть далее

Casino Information — Resorts World Catskills In Trouble, No Casinos For Chicago, Hard Rock Las Vegas Closing For Renos

Casino Information — Resorts World Catskills In Trouble, No Casinos For Chicago, Hard Rock Las Vegas Closing For Renos

This week’s casino news starts us of in upstate New York where among the many lavish, revolutionary casinos is on the verge of bankruptcy. Can the Resorts World Catskills still be conserved?

Resorts World Catskills On Verge Of Bankruptcy

The upstate casino that is largest in New York is reportedly on the verge of bankruptcy adhering to a year or two by which it was unable to generate profits. Based on the report, the Resorts World Catskills was hit with a $36 million loss in the final quarter. The company is seriously considering claiming bankruptcy in an effort to square away its debts.

The casino’s shareholder that is largest, the Genting Group, has placed forward a proposition to buy out the staying shares associated with company from the parent business Empire Resorts. According to an SEC filing by the company that is publicly-traded the $1 billion casino in Monticello suffered operating losses of $73.5 million through the conclusion of June. If Empire Resorts does not take the deal with the Genting Group, it could likely need certainly to declare Chapter11 bankruptcy so that you can negotiate its debts with creditors.

After projecting $300 million in revenue for 2019, the Resorts World Catskills is currently on pace to fall nearly $100 million short of that mark. It will be interesting to see what route the Genting Group decides to take continue after th Читать/смотреть далее