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The three companies collectively operate 75 U.S. casinos that permit indoor smoking, where state law allows. States like Nevada and New Jersey have prohibited indoor smoking more broadly, but carved out exceptions for casinos. Legislation to end indoor smoking at casinos is in various stages in several states across the country, including New Jersey, Pennsylvania and Rhode Island. Advocates for smoking bans point to research by C3 Gaming that concluded smoke-free casinos generate more revenue and outperform competitors that allow smoking. In Las Vegas, MGM Resorts opened the first casino resort on the Strip to prohibit indoor smoking and even smoking on the pool deck.

Persons: Boyd, Bally's, it's, Jan Jones Blackhurst, we've, Marc Oppenheimer, we're, it'll Organizations: Boyd Gaming, Bally's Entertainment, Caesars Entertainment, Trinity Health, Nonsmokers, Rights Foundation, Trinity, Caesars, The Securities, Exchange Commission, C3 Gaming, SBC, North, United Auto Workers, Disease Control, U.S, CNBC, Las Vegas, MGM Resorts, MGM Locations: Livonia , Michigan, Bally's, U.S, Nevada, New Jersey, New Jersey , Pennsylvania, Rhode Island, North America, United States, Pennsylvania, Bensalem, Philadelphia, Las

☆ Bally's shareholders wage battle over ownership, 'unfunded development projects'
▼ + stars: | 2024-04-02 | by ( Contessa Brewer | ) www.cnbc.com time to read: +5 min

In this article BALY Follow your favorite stocks CREATE FREE ACCOUNTAn exterior view shows the Tropicana Las Vegas at dusk on March 29, 2024 in Las Vegas, Nevada. David Becker | Getty ImagesAs the famous Tropicana in Las Vegas closes its doors Tuesday, its operator Bally's Corporation is facing its own existential battle. Standard General owns about 23% of Bally's stock, it said last month. An exterior view shows the Tropicana Las Vegas on March 29, 2024, in Las Vegas, Nevada. Bally's market cap stands at little more than half a billion dollars.

Persons: David Becker, Soo Kim, Kim, it's, Dan Fetters, Edward King, Fetters, King, Bally's, It's, George Rose, Chris Grove, Jim Murren, Jess Golden Organizations: Tropicana, Getty, Bally's, Standard, Growth Capital, Las, Trump, Tahoe, Chicago, Major League Baseball's Athletics, Leisure Properties, New, Acies, MGM Resorts International, CNBC Locations: Las Vegas , Nevada, Las Vegas, New York City, Stateline , Nevada, Seminole, Florida, Nevada, Oakland, Vegas

ATLANTIC CITY, N.J. (AP) — Internet gambling revenue continues to soar in New Jersey, where online casinos are accounting for a growing share of the betting pie: Atlantic City's casinos and their online partners won $182 million in internet bets in February. But the news was not all good: Atlantic City's nine casinos won $211.5 million from in-person gamblers, down 1.6% from a year earlier. Bally's won nearly $19 million, up nearly 5%; Harrah's won $18.7 million, down 11%; Caesars won $16.2 million, down 15.5%; and Resorts won $12.1 million, down 4.3%. In terms of in-person revenue, Borgata won $53.6 million, down 6.7%; Hard Rock won $41.1 million, up 9.6%; Ocean won over $31 million, up over 18%; Harrah's won $18.2 million, down 14.7%; and Tropicana won $16.6 million, down 3.1%. Caesars won $16.4 million, down 13.7%; Resorts won $12.2 million, down 3.6%; Golden Nugget won $11.6 million, up 4:, and Bally's won $10.6 million, down over 13%.

Persons: ”, Jane Bokunewicz, Bally's, Harrah's, Borgata, Wayne Parry Organizations: CITY, of Gaming Enforcement, Atlantic, Atlantic City, Golden, Ocean, Tropicana, Caesars, Resorts, Resorts Digital, Caesars Interactive Entertainment Locations: N.J, New Jersey, www.twitter.com

☆ Stocks making the biggest moves midday: Nvidia, Coinbase, Oracle, Bally's and more
▼ + stars: | 2024-03-11 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Oracle — Shares added 1.6% ahead of the software giant's fiscal third-quarter earnings report due after the bell. Analysts polled by FactSet are expecting earnings per share of $1.38 and revenue of $13.29 billion. New York Community Bancorp — The regional bank stock dropped 4.8%, extending losses after Friday's more than 6% drop. Moderna — The stock jumped more than 8% in midday trading, putting it on track for its biggest one-day gain since December. Duolingo — Shares rose 3.6% after JPMorgan initiated coverage of the online learning platform with an overweight rating, forecasting "premium" revenue growth that could substantially drive up Duolingo's valuation.

Persons: FactSet, Lam, Coinbase, Microstrategy, Jefferies, Eli Lilly, — CNBC's Michelle Fox, Alex Harring, Yun Li, Tanaya Macheel, Pia Singh Organizations: Oracle, Nvidia, Semiconductor, Lam Research, New York Community Bancorp, Moderna, P Biotech, Xcel Energy, Barclays, JPMorgan, PDD Holdings

In addition to the $355 million penalty — payback of what the judge deemed “ill-gotten gains” from his spurious financial statements — Trump is required to pay interest on that amount. James’ office calculates that, to date, Trump owes an additional $98.6 million in interest, bringing his total penalty to $453.5 million. Trump used $170 million of the $375 million to pay off a loan on the property. — $60 million, plus interest, from selling the rights to manage a New York City golf course in June 2023. Trump testified that regardless of what his financial statements said, banks did their own due diligence and would’ve qualified him for the loans anyway.

Persons: Donald Trump, “, ”, Arthur Engoron, Letitia James, who’s, Trump, who's, Friday's, what's, Engoron, James ’, Allen Weisselberg, Jeffrey McConney, — Trump, Eric, Donald Trump Jr, Donald Jr, untethered, ” Trump, Christopher Kise, would’ve, James, Engoron’s, Barbara Jones, Michael Cohen, Cohen, —, Forbes, Trump “, ” Engoron, Michael Cohen's Organizations: Republican, Trump, Trump Organization, longtime Trump Organization, TRUMP, New, Deutsche, Trump International Hotel, Waldorf, Bally's Corporation, Trump Organization finance, Division, Democrat Locations: New York, New, Manhattan, Lago, Florida, Miami, Chicago, Washington, New York City, Engoron’s, York, Trump

That is why the casinos consider their core business to be money won from in-person gamblers. The in-person total continues to decline, still lagging the levels seen before the COVID19 pandemic began in early 2020. Golden Nugget won $63.5 million, up over 23%; Hard Rock won $51.5 million, up 19%; Ocean won $39.1 million, up more than 13%, and Tropicana won $26.1 million, up 4.5%. Bally's won $18.9 million, up 15.3%; Harrah's won $16.5 million, down 17.5%; Caesars won $15.1 million, down 7.6%; and Resorts won $10.8 million, down less than 1%. Golden Nugget won $11.2 million from in-person gamblers, up 2.3%; Resorts won $10.9 million, down 1.4%; and Bally's won $10 million, down nearly 13%.

Persons: Jane Bokunewicz, Lloyd Levenson, “, ”, James Plousis, Bally's, Harrah's, Borgata, Ocean, Wayne Parry Organizations: CITY, of Gaming Enforcement, Atlantic, Stockton University, Atlantic City, New Jersey Casino Control, Meadowlands, Jersey Shore, Freehold Raceway, Golden Nugget, Ocean, Tropicana, Caesars, Resorts, Resorts Digital, Caesars Interactive Locations: N.J, New Jersey, East Rutherford, New York City, Monmouth, Oceanport, Jersey, www.twitter.com

LAS VEGAS (AP) — The Tropicana Las Vegas, a Sin City landmark for more than six decades, is shutting its doors in the spring to make room for a $1.5 billion Major League Baseball stadium that will be home to the relocating Oakland Athletics. All 30 MLB owners in November gave their approval for the A's to move to Las Vegas. The company's announcement came just a month after the Tropicana and the Culinary Workers Union, which represents about 500 workers there, reached an agreement for a new five-year contract. For veteran workers at the Tropicana, Pappageorge said, that totals tens of thousands of dollars. “In Las Vegas, hotels are bought and sold on a regular basis," Pappageorge said.

Persons: Tiffany, ”, George Papanier, Bally's, Ted Pappageorge, Pappageorge Organizations: LAS VEGAS, Tropicana, Major League Baseball, Oakland Athletics, Bally's Corp, Las, NFL’s Vegas Raiders, Golden Knights, Culinary Workers Union Locations: Vegas, Sin, Las Vegas, Oakland, Rhode

But only half that money came from the casinos' core business: money won on their physical premises. Collectively, the casinos surpassed 2019 levels with $2.8 billion won from in-person gamblers, but that was accomplished largely on the strength of the three newest casinos. Hard Rock won $512 million, up 4.1%, and Ocean won nearly $415 million, up 16.3%. Harrah's won $254 million in person, down 1.5%; Tropicana won $240 million, down 3.3%; Caesars won $231 million, down 1.7%; Resorts won $163 million, down 2.3%; Bally's won $155 million, up less than 1%, and Golden Nugget won $146 million, down 1.8%. Among internet-only entities, Resorts Digital won $822 million, up 50.4%, and Caesars Interactive Entertainment NJ won $90 million, down 20.7%.

Persons: Money, Ocean —, James Plousis, Jane Bokunewicz, Lloyd Levenson, ”, Borgata, Harrah's, Bally's, Wayne Parry Organizations: CITY, Atlantic, New, New Jersey Division of Gaming Enforcement, Ocean, New Jersey Casino Control Commission, Atlantic City, Stockton University, Sports, Tropicana, Caesars, Resorts, Golden Nugget, Resorts Digital, Caesars Interactive Entertainment Locations: N.J, New Jersey, Atlantic City, www.twitter.com

☆ NYC replaced the massive 'Trump Links' sign from a Bronx golf course after new management took over
▼ + stars: | 2024-01-12 | by ( Associated Press | ) www.businessinsider.com time to read: +2 min

NYC officials rebranded an 18-hole public golf course formerly managed by the Trump Organization. Last year, the Trump Organization sold the operating rights to Bally's Corporation for $60 million. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In September, the Trump Organization sold the operating rights to Bally's for $60 million. AdvertisementThe former president changed his legal residence from New York City to Palm Beach, Florida, in 2019.

Persons: —, Donald Trump, Eric Adams, Bill de Blasio, Donald Trump Jr Organizations: Trump Organization, Trump, Bally, Bally's Corporation, Service, Bally Links Locations: York, New York City, Bronx, Whitestone, New York, Palm Beach , Florida

Hard Rock posted a gross operating profit of $44.3 million in the third quarter, up less than 1% from a year earlier. Gross operating profit reflects earnings before interest, taxes, depreciation, and other expenses, and is a widely accepted measure of profitability in the Atlantic City casino industry. “In keeping with the experiences of many resort communities along the New Jersey shore, Atlantic City saw a bit of a cooling off in summer 2023 compared to the pent-up post-pandemic energy seen in 2021 and 2022, said Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, which studies the Atlantic City casino industry. ”That said, it did outperform pre-pandemic 2019 for both net revenue and gross operating profit, suggesting that this could be part of a cycle of stabilization." The Tropicana had a profit of $36.7 million, down 11.5%; Harrah's had a $30 million profit, down over 13%; Caesars had a $21.1 million profit, down nearly 18%; Golden Nugget had an $11 million profit, nearly 4%; Bally's had a $7.3 million profit, down over 32%; and Resorts had a $7.2 million profit, down nearly 43%.

Persons: Gross, Jane Bokunewicz, Lloyd Levenson, James Plousis, Harrah's, Bally's, Wayne Parry Organizations: CITY, of Gaming Enforcement, Atlantic City, Stockton University, New Jersey Casino Control, Tropicana, Caesars, Golden, Resorts, Caesars Interactive Entertainment, Resorts Digital, Twitter Locations: N.J, New Jersey, Atlantic City, www.twitter.com

ATLANTIC CITY, N.J. (AP) — Five Atlantic City casinos and a horse racing track are forfeiting over $77,000 worth of money won by underage gamblers or those who had placed themselves on a list to be excluded from gambling activities. The forfeited money will go to the state to be used for programs to treat compulsive gambling, as well as on programs benefiting senior citizens and those with disabilities. The Ocean Casino Resort forfeited over $7,500; Bally's forfeited over $5,600; Freehold Raceway forfeited over $4,400; the Golden Nugget forfeited over $4,200; and Harrah's forfeited nearly $900. Collectively, they have won more than $4.2 billion from gamblers through the first nine months of this year. But they do indicate ongoing enforcement of regulations by which all casinos and gambling operations must operate.

Persons: DraftKings, Bally's, Harrah's, Wayne Parry Organizations: CITY, Atlantic City, Rush, Interactive, of Gaming Enforcement, Resorts, Casino Resort, Freehold Raceway, Golden Nugget, Atlantic Locations: N.J, New Jersey, www.twitter.com

NEW YORK (AP) — Gaming giant Bally's paid $60 million to buy the right to operate a public golf course in New York City from Donald Trump's company, the former president's namesake son testified Thursday. Trump Jr. said the sales price was $60 million, but the Trump Organization had incurred “a lot of costs” over the years, so he wasn't sure of the net profit. The Trump Organization managed the 18-hole course, which is visible from the Whitestone Bridge and boasts views of the Manhattan skyline, from 2015 until this year. The ruling would have allowed the Trump Organization to operate the course through the expiration of its lease in 2035. “The Trump Organization is Financially Strong, Powerful, Very Liquid, AND HAS DONE NOTHING WRONG,” Trump wrote.

Persons: Donald Trump's, Trump, Donald Trump Jr, Trump Jr, It's, wasn’t, Bill de Blasio, Letitia James, Donald Jr, Eric, ”, James, Arthur Engoron, ” Trump Organizations: —, Trump Organization, U.S . Capitol, Trump, New York, Republican, Social, “ Locations: New York City, Whitestone, Manhattan

☆ Son burn: Donald Trump Jr. learns on the stand that AG wants even more fraud penalties thanks to his $60M golf-course sale
▼ + stars: | 2023-11-02 | by ( Laura Italiano | ) www.businessinsider.com time to read: +5 min

Donald Trump, Jr., completed two days of testimony in the Trump civil fraud trial in New York. AdvertisementAdvertisementNew York officials want even higher penalties from Donald Trump than the $250 million they've already said they're seeking, it was revealed during testimony Thursday by Donald Trump, Jr. It was signed by Donald Trump Jr., president of Trump Ferry Point LLC, which held the lease. There was another flurry of objections, cut short when Donald Trump, Jr. cheerfully mooted the dispute by cracking, "I didn't make any." AdvertisementAdvertisementThe AG's office has said it will ask for a total of at least $250 million in total "disgorgement" from her lawsuit's defendants: Donald Trump, Donald Trump, Jr., Eric Trump, and longtime Trump Organization executives Allen Weisselberg and Jeffrey McConney.

Persons: Donald Trump , Jr, Eric Trump, —, Donald Trump, Trump, Colleen Faherty, Letitia James, Donald Trump Jr, I'm, Faherty, It's, James, Christopher Kise, Arthur Engoron, Allen Weisselberg, Jeffrey McConney Organizations: Service, Trump, New, longtime Trump Organization, Post, Trump International Hotel Locations: New York, Bronx, York, Manhattan, Trump Ferry, Washington ,

When internet and sports betting money is included, the casinos, horse tracks that take sports bets and their online partners won over $521 million from gamblers in September. Tropicana won $21.4 million, down 8.2%; Caesars won just under $21.4 million, down 4.5%; Resorts won $14.9 million, down 10.7%; Bally's won $13.1 million, down 17.3%, and the Golden Nugget won $12.6 million, down 6.1%. Tropicana won $33.7 million, down 2.6%; Harrah's won $22.5 million, down 2.6%; Caesars won $21.3 million, down 10.7%; Bally's won $20.2 million, down 1.3%; and Resorts won nearly $15 million, down 11.6%. Of that money, about $111 million was kept as revenue after winning bets and other expenses were paid out. Among internet-only entities, Resorts Digital won $45.4 million in September, up nearly 33%, and Caesars Interactive Entertainment NJ won $5.6 million, down over 38%.

Persons: ”, Jane Bokunewicz, Lloyd Levenson, James Plousis, Harrah's, Bally's, Borgata, Wayne Parry Organizations: CITY, — Sports, Atlantic City, of Gaming, Resorts, New Jersey's Stockton University, New Jersey Casino Control, Casino, Ocean, Tropicana, Caesars, Golden, Casinos, Resorts Digital, Caesars Interactive Entertainment, Twitter Locations: N.J, New Jersey, Ocean, New, Atlantic City, www.twitter.com

RENO, Nev. (AP) — The University of Nevada’s basketball team could have a new off-campus home by 2026 under an ambitious 10-year expansion plan that Reno’s largest hotel-casino announced Wednesday. The nearly $1 billion private capital investment will be the biggest in the city's history, according to officials of the Grand Sierra Resort. Before that, the team played at the Reno-Sparks convention center south of downtown. It's been the Grand Sierra Resort since 2006. Last year, Las Vegas hosted Sweet 16 games for the NCAA basketball tournament at T-Mobile Arena on the Vegas Strip.

Persons: Alex Mereulo, Brian Sandoval, Sandoval, It's, Hillary Schieve Organizations: University, Nevada’s, Grand Sierra, Las, University of Nevada, Nevada men’s, “, Sierra Resort, Mountain West Conference, Reno, MGM, Reno Hilton, Las Vegas, Sweet, NCAA, Mobile, Vegas Locations: RENO, Nev, Las Vegas, Reno, Mereulo, Northern Nevada, Nevada, U.S, North America

☆ Judge halts Suns' bid to exit bankrupt Diamond Sports network
▼ + stars: | 2023-05-10 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +3 min

A general view during the second half in Game Two of the NBA Finals between the Milwaukee Bucks and the Phoenix Suns at Phoenix Suns Arena on July 08, 2021 in Phoenix, Arizona. The Phoenix Suns' move to exit cable TV is no slam dunk. The Suns since 2011 have aired their regular season games on the Diamond owned and Bally's-branded regional sports network, which was previously under the Fox Sports banner. He added the Suns and Diamond must come to a consensual agreement and find an appraiser to move the process forward. However, the judge found that the Suns moved too quickly to announce the deal in late April without proper communication with Diamond Sports.

☆ 9 deals that could shape US sports betting this year, as pent-up demand for M&A could bring operators like Fanatics back to the negotiating table
▼ + stars: | 2023-03-02 | by ( Ashley Rodriguez | Lucia Moses | ) www.businessinsider.com time to read: +5 min

Sports-betting insiders say there's pent-up demand for M&A in the industry after dealmaking slowed to crawl last year. That may mean fewer media and other deals that don't offer a clear return on investment or cost efficiencies.. That may mean fewer media and other deals that don't offer a clear return on investment or cost efficiencies. One thing we may see less of this year is operators looking to bring their entire tech stacks in-house, like when Bally's acquired Bet.Works and PointsBet bought Banach Technologies. Here are nine potential deals industry insiders are watching in 2023, and how they could shake up the industry:

☆ MLB Commissioner says league is prepared to step in to broadcast games — and maybe even end blackouts — as Bally Sports heads toward bankruptcy
▼ + stars: | 2023-02-17 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +4 min

MLB Commissioner Rob Manfred said the league is prepared to broadcast games itself if necessary. A restructuring or termination of the league's broadcast agreements could also end controversial "blackouts." MLB is prepared to take over broadcasting the regular season games, which start March 30, Manfred said. Sinclair Broadcasting Group, one of the largest broadcasters of local news across the country, bought the rights in 2019 to broadcast much of America's regular season games for the MLB, NBA, and NHL. Manfred said he hopes digital offerings and future broadcast deals would allow a fan to pay to stream their home team's games without worrying about "blackouts."

Sinclair acquired the portfolio of regional sports networks from Disney in 2019 for $10.6 billion, including roughly $8 billion in debt. Diamond Sports' portfolio includes Bally Sports Detroit, Bally Sports Florida and Bally Sports Southwest. Its networks are home to more than half of MLB, NHL and NBA teams in the U.S., Diamond says. As consumers flee traditional pay-TV bundles, cable networks, particularly the regional sports networks, have felt the brunt of it. Concerns that Diamond could forgo paying the rights payments while under bankruptcy protection have been discussed at the leagues, the people said.

☆ Trump wants back in the casino biz — as Bally's landlord in the Bronx. Many approvals would still be needed.
▼ + stars: | 2023-02-14 | by ( Laura Italiano | ) www.businessinsider.com time to read: +4 min

Under a deal struck in December, Trump would sub-lease 17 acres of his Bronx golf course to Bally's. Bally's bid for a new casino on the city-owned grounds of Trump Golf Links at Ferry Point was first reported on Sunday by the New York Post. Proposals must be approved by a local community advisory committee that includes the governor, the mayor, the local state senator and assembly member, the borough president, and the local city council member. "We are incredibly excited at the prospect of bringing Bally's community-centered approach to gaming and entertainment to the Bronx," a casino spokesperson told Insider. One of those leaders is local city council member Marjorie Velazquez, who applauded the prospect of bringing jobs to her neighborhood.

☆ FuboTV insiders describe how its 'doomed' sportsbook collapsed in a year — and what it means for the future of the streaming company
▼ + stars: | 2023-01-19 | by ( Colin Salao | Ashley Rodriguez | ) www.businessinsider.com time to read: +22 min

But despite the MetLife lounge remaining open throughout the 2021-22 NFL season, the Fubo Sportsbook wouldn't launch in New Jersey until the following one, in September 2022. "It was doomed from the start," one former Fubo Gaming staffer told Insider. Meanwhile, Rattner — whom the first former Fubo gaming staffer described as a "good talker" — sustained the startup's more youthful culture. The Fubo Sportsbook launched in New Jersey on September 7, days before the first Jets home game. A promotional image from when the Fubo Sportsbook went live in New Jersey in September 2022.

☆ I'm a full-time Airbnb host in the Las Vegas desert. Here's how my husband and I set up a 6-property business we love without knowing anything about Airbnb.
▼ + stars: | 2022-11-21 | by ( Jamie Killin | ) www.businessinsider.com time to read: +7 min

Sandi Croft and her husband own tiny homes, teepees, and a wagon that they rent out on Airbnb. Croft enjoys offering these unique living experiences on the Sandy Valley Ranch in Nevada. We now mange six Airbnbs on Sandy Valley Ranch in Nevada. He loved doing that, so he told me he wanted to build a tiny house. After building that second tiny house on HGTV, we put it on Airbnb.

☆ Here are Wednesday's biggest analyst calls: Tesla, Netflix, Carvana, Exxon, Meta, Apple & more
▼ + stars: | 2022-11-02 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Bernstein reiterates Tesla as underperform Bernstein said shares of Tesla remain extremely overvalued. Needham reiterates Netflix as hold Needham said the streaming giant could see "negative revenue growth near-term" due to its new ad-based product. Bank of America downgrades Twilio to underperform from buy Bank of America double downgraded the communications tools company due to rising competition. Bank of America reiterates Peloton as buy Bank of America said it's standing by shares of Peloton heading into earnings on Thursday. Bank of America reiterates Carvana as buy Bank of America said in a note on Wednesday that it's standing by shares of Carvana.

☆ Sports gambling opportunities for marketers
▼ + stars: | 2022-09-22 | by ( Paul Verna | ) www.businessinsider.com time to read: +7 min

And sports gambling, which is now legal in nearly half the US, is emerging as a market opportunity for brands and broadcasters alike. Legalized sports gambling in the US will generate $2.1 billion in revenues this year. It also tallies states with active sports gambling legislation as well as those with no legislation or dead legislation. As of May 2021, sports gambling was legal and active in 21 states plus the District of Columbia. In addition, MGM Resorts International projects that sports gambling will generate $13.5 billion by 2025, with 38 US states participating by that time.

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