Casino
April 15, 2020
Updated PPP Will Need Further Changes, Advises AGA
Bill Miller, AGA CEO comments on the most recent guidelines regarding the Paycheck Protection Program. CEO Bill Miller Comments on the Updated PPP Bill Miller CEO of American Gaming Association (AGA) commented on the release of the updated guidelines for the regulation of the Paycheck Protection Program (PPP). The CARES act (Coronavirus Aid, Relief and […]
Casino
April 13, 2020
Nomura Predicts Macau GGR Slowly Returning to 2019 Highs, Not Until 2022 Though
The casino gaming industry suffered its first major blow in February, when a major casino jurisdiction, Macau, was forced to shut down operations for 2 weeks to contain the spreading like wildfire coronavirus in mainland China. Since then, casinos started recovering but getting back to the state where they were before the virus crisis struck […]
Casino
April 13, 2020
Mohegan Gaming on Track for Their South Korean Casino Resort, Phase One Launching in 2022
Mohegan Gaming’s project in Incheon, South Korea is on track, with phase one launching in 2022 as planned despite the growing worldwide coronavirus epidemic. Mohegan’s Project in Incheon Going According to Plan Mohegan Gaming’s mind-blowing project in Incheon, South Korea is moving forward as planned. CEO Mario Kontomerkos of Mohegan Gaming commented: Work continues and […]
Casino
April 13, 2020
Yokohoma Continues with IR Bid Despite Coronavirus Emergency
Japan’s Yokohoma prefecture will continue with its IR bidding process despite a state of emergency issued by the central government last week. According to Yokohoma mayor Fumiko Hayashi, the prefecture has all it needs to apply successfully for an IR license and host the first of three such projects in Japan. Yokohama Continues with IR […]
Casino
April 10, 2020
Two-Week Casino Closure Cost Native American Tribes $1.5B
Tribal casinos lost more than $1.5 billion in gaming and non-gaming revenues for the first two weeks of the casino closure, claims a report from Meister Economic Consulting. The impact of the widely adopted measures to mitigate and contain the spread of the coronavirus has been felt deeply within the gaming and hospitality industries. Causing […]
Casino
April 10, 2020
Bloomberry Resorts Have Enough Cash to Weather the Storm
During these unprecedented times when the gambling industry is among the most impacted from the coronavirus due to the closure of land-based gaming facilities, Enrique Razon, Chairman and CEO of Manilla-based Bloomberry Resorts Corp, is one of the few that places human beings before businesses. The billionaire that ranked 565 in Forbes’ “World’s Billionaires List […]
Casino
April 9, 2020
Eldorado Resorts Paid For a Month, Now Furloughs Employees
Eldorado Resorts was among the few that committed to continue to pay to its workers for a full month during the casinos closure. That month is about to expire Friday and the Reno-based casino operator is expected to follow the example of most of its industry competitors, Boyd Gaming being the latest, and place most […]
Casino
April 9, 2020
Boyd Gaming Trims Costs, Places Nearly 25,000 on Furlough
While reports that the coronavirus is spreading like wildfire in the US are circulating through the media, another casino operator decided it is time to furlough most of its employees. Uncertainty Requires Proactive Approach Las Vegas-based gaming company, Boyd Gaming, announced yesterday additional measures to mitigate the financial impact from the closure of its brick-and-mortar […]
Casino
April 9, 2020
William Hill Executives to Forego Increase in Payment and Bonuses
William Hill is suspending payment salary increase and bonuses for the upper management, considering the predicted losses due to the coronavirus pandemic. Suspending of Bonuses and Planned Salary Increase William Hill has announced the new salary packages for chief executive Ulrik Bengtsson and new chief finance officer Matt Ashley. Due to the COVID-19 pandemic, Bengtsson […]
Casino
April 8, 2020
Donaco Implements Measures to Ensure Business Sustainability
Temporary closure of casinos around the world disrupted the core of the gaming industry and forced casino operators to take some unpopular measures to maintain the necessary operability state to be able to resume business the moment the ongoing health crisis resides. One thing is certain, though: burning cash reserves is inevitable. Donaco International, the […]