Business
April 16, 2020
Star Entertainment and Crown Resorts Cut Executives Pay
Australia’s largest casino operators, The Star Entertainment Group and Crown Resorts, have adopted measures to weather the COVID-19 occasioned lockdown without taking too much of a financial hit. Crown Resorts and The Star Entertainment Group Updated Securities Filings Australian casino giants have taken serious pay cuts across their executive staff to help weather the coronavirus […]
Business
April 15, 2020
888 Holdings 2019 Revenue Increased, Yet Profit Sank
888 Holdings, the Gibraltar-based online gaming operator, posted its 2019 financial report, showing an increase in revenue compared to the year before. Even the revenue increase could not offset the rise in regulatory costs and other expenses for the company, resulting into plummeting profit before tax. Revenues For the past year, 888 Holdings registered operational […]
Business
April 15, 2020
Scientific Games Strongly Positioned to Deal with Business Adversity
Closure of land-based casinos and other retail gaming outlets did not affect the gaming companies only, but their technology solutions providers, too. In a statement regarding its financial position amid the ongoing health crisis, Scientific Games /SG/ reported it had implemented during the second quarter of 2020 cost savings to the extent of $100 million. […]
Business
April 14, 2020
Tabcorp Marketing Campaign Pleads for Support, Seeks Sympathy
Marketing campaigns may serve many purposes, but they all aim at bringing the attention to one’s products. And the new marketing campaign by Tabcorp does exactly that, for all the good reasons. The betting arm of Australian gaming company Tabcorp Holdings, TAB, has recently launched an advertising pitch that is seeking to exploit on bettors’ […]
Business
April 13, 2020
Unions Speak Against Casino Layoffs as Federal Stimulus Comes to Rescue
Union leaders in New Jersey have criticized casinos’ decisions to lay off thousands of workers despite the fact most of these companies are eligible for financial stimulus and help from the government. Unions and Casino Workers Unhappy with Layoffs With the casino stock battered by the nation-wide lockdown, casino companies will be entitled to a […]
Business
April 12, 2020
Las Vegas Sands Founder Sheldon Adelson in Forbes 2020 Billionaires Top 30
The annual list of the world’s richest people, the Forbes Billionaires 2020, showed the highest ranked casino entrepreneur is still the founder and chairman of Las Vegas Sands, Sheldon Adelson. The 86-year old casino tycoon has a net worth of $26.8 billion and stands on the 28th spot in the ranking list. Las Vegas Sands […]
Business
April 10, 2020
Kindred Cuts 75 Jobs, Adapts to New Market Realities
Adapting to new market realities, Kindred Group is shedding 75 jobs across its offices in Europe. Outgoing employees will receive the support they need and deserve, the Group said. Kindred Group Announces 75 Job Redundancies in Europe Malta-headquarter provider of iGaming solutions, Kindred Group, will lay off as many as 75 employees around the world, […]
Business
April 8, 2020
Wynn Spends $3.5M a Day to Keep Employees in COVID-19 Outbreak
The novel coronavirus (COVID-19) pandemic has brought the majority of casino operations to a halt in the United States, putting unprecedented pressure on business. However, Wynn Resorts has decided to keep on paying its 15,000 employees through May 15. The company is spending $3.5 million a day to meet this pledge. Wynn Resorts Continues to […]
Business
April 7, 2020
Tabcorp Trims Costs by Temporary Layoffs, More Than 700 Employees Affected
Tabcorp, the Australian lottery and gaming provider, has introduced cost reduction measures to respond to the negative impact on its revenue due to the coronavirus spread, that included the temporary layoff of more than 700 employees. Yet, the full extent of the blow the company is taking from the ongoing health crisis on its bottom […]
Business
April 3, 2020
All US Wynn Resort’s Employees to Receive Payment till May 15
Amid the ongoing COVID-19 pandemic in the US, while Nevada extends the stay-at-home order, Wynn Resorts is taking action to help the company’s employees. Growing COVID-19 Pandemic Keeps Casinos Closed till End of April Wednesday, 1st of April – Nevada Gov. Steve Sisolak announced the extending of the stay-at-home order through April. The order being […]