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Figures released Monday by the New Jersey Division of Gaming Enforcement show the casinos and their online partners won $213.6 million in October, surpassing September's previous record of $208 million. The swing toward internet gambling and away from in-person casino gambling accelerated during the pandemic, and is becoming a more permanent feature of New Jersey's gambling landscape. He also noted that internet gambling revenue exceeded $200 million for the second straight month. In terms of in-person gambling revenue, Borgata won $53.4 million, down 6.1% from a year earlier; Hard Rock won $40.8 million, down 1%; Ocean won $32.8 million, down over 24%; Tropicana won $17.6 million, up 7.4%; Harrah's won $15.7 million, down 11.5%; Caesars won just under $15 million, up 4.1%; Resorts won $12 million, down over 9%; Bally's won $11.4 million, down 7.8%; and Golden Nugget won $9.6 million, down over 20%. When internet and sports betting money is included, Borgata won $106.1 million, up 5.8%; Resorts won $88.7 million, up nearly 19%; Golden Nugget won $76.7 million, up nearly 25%; Hard Rock won $55.1 million, up 6.2%; Ocean won $39 million, down nearly 19%; Bally's won $23.1 million, up 17.2%; Tropicana won $17.7 million, up 9.1%; Harrah's won $15.8 million, down 10.6%; and Caesars won $15.2 million, up 1.5%.
Persons: Ocean —, Jane Bokunewicz, Lloyd Levenson, , James Plousis, Borgata, Harrah's, Bally's, Wayne Parry Organizations: CITY, Atlantic, New, New Jersey Division of Gaming Enforcement, Ocean, Stockton University, New Jersey Casino Control, Tropicana, Caesars, Resorts, Golden Nugget, Golden, Associated Press Locations: N.J, Atlantic City, New Jersey
Trump made a lot of tax promises. Can he keep them?
  + stars: | 2024-11-16 | by ( Tami Luhby | ) edition.cnn.com   time to read: +7 min
Although Trump claims that his plan to raise tariffs will replace the revenue lost to these tax breaks, experts say that’s not possible. President-elect Donald Trump's tax proposals could cost trillions of dollars. In addition to eliminating taxes on certain income, Trump also floated making interest paid on car loans fully tax deductible; getting rid of the controversial cap on state and local tax deductions; ending the double taxation on Americans who live abroad; exempting police officers, firefighters, veterans and active-duty military from federal income tax; and even exploring jettisoning the federal income tax itself. Though his campaign didn’t release details on the proposal, Trump indicated that he would eliminate both federal income taxes and payroll taxes, which fund Social Security and Medicare. Virtually all tipped workers would get some tax relief if Trump also gets rid of payroll taxes on tips, the Tax Policy Center found.
Persons: Donald Trump, ” Karoline Leavitt, Trump, Marc Gerson, Miller, , Gerson, Donald Trump's, Jabin, Idaho Sen, Mike Crapo, Mandi Critchfield, Spokespeople, Jason Smith, Chris Campbell, ” Campbell, Republican Sen, Ted Cruz of, Byron Donalds, “ Sen, Brendan Duke Organizations: CNN, Social Security, Trump, GOP, , Fox News, Capitol, Washington D.C, Republicans, Washington Post, Getty, Senate, Missouri Rep, Republican, Incamera Solutions, Yale University, Center, Rep, Center for American Progress Locations: Washington, Idaho, Nevada, Ted Cruz of Texas, Florida
CNBC Pro combed through Bank of America research to find stocks the bank believes are "best-in-class." They include Carvana , ESAB, Netflix , Texas Roadhouse and Johnson Controls . Texas Roadhouse Analyst Sara Senatore is sticking with shares of the Texas-themed restaurant following earnings in late October. BofA says Texas Roadhouse benefits from low staff turnover, innovative technology and same-store sales that continue to improve. In addition, Senatore called traffic growth "best-in-class" with month-to-month improvement even as the wider industry battles numerous headwinds.
Persons: Jessica Reif Ehrlich, Reif Ehrlich, Sherif El, BofA, ESAB, Sara Senatore, Senatore, Johnson Organizations: Bank of America, CNBC, Netflix, Texas, Johnson Controls, BofA, Gaming, El, JCI Locations: Bank, El, Texas, U.S, North America
Below, I rounded up the best early Black Friday deals of 2024 from some of our favorite retailers, like Amazon, Target, Walmart, Home Depot and REI. SKIP AHEAD Best early Black Friday deals | More early Black Friday sales | How I picked the best early Black Friday deals | Why trust NBC Select? Best early Black Friday deals of 2024To find the best early Black Friday deals, I combed through dozens of discounts across retailers. Best early Black Friday salesHere are the best early Black Friday sales to know about. How I found the best early Black Friday dealsAll of my recommendations above are based on NBC Select’s previous coverage and reporting.
Persons: I’ve, I’ll, Siri, It’s, TikTok Organizations: Black, NBC, Target, Walmart, Home, Alexa, Garmin, Amazon, beechwood, Wellness, Facebook, Twitter Locations: REI, Samsonite, grippy
SKIP AHEAD How we picked the best travel tech essentials | The best travel tech gadgets on Amazon | Why trust NBC Select? As you consider travel gadgets, it’s important to evaluate their size and weight, especially if you have limited space in your carry-on or suitcase. Convenience : Whether you’re taking a car, plane, train or bus, the best travel tech gadgets provide convenience when you’re on the road, ensuring you’re comfortable and prepared for common travel issues. : Whether you’re taking a car, plane, train or bus, the best travel tech gadgets provide convenience when you’re on the road, ensuring you’re comfortable and prepared for common travel issues. The best travel tech gadgets on AmazonUsing the guidance of travel experts, I sorted through hundreds of popular travel tech gadgets on Amazon.
Persons: Tom Marchant, Marchant, , you’re, it’s, You’ll, Anker PowerCore, there’s, trimmer, TikTok Organizations: NBC, Fyy, Tile Network, Apple, AAA, Apple Watch, Bluetooth, AA, Facebook, Twitter
November Monthly Meeting: Cramer reveals the potential stock winners (and losers) under TrumpMany investors are repositioning their portfolios to profit from a sure-fire bull market continuation under the President-elect. But gaming the new administration will be hard. Join Jim and Jeff Marks as they look to navigate a new era for the stock market.
Persons: Cramer, Jim, Jeff Marks Organizations: Trump
AdvertisementLately, creative workers are increasingly chasing their Hollywood dreams in production hubs far from Hollywood. FilmLA, which issues permits for production in the region, found that Greater Los Angeles' share of US-produced TV and film projects declined from 23% in 2021 to 18% last year. Brin said Lexington had attracted 30 film and TV projects so far this year, representing more than $2 million in local spending. Actually being on a set is only one part of entertainment production. While the power of Los Angeles is dispersing, no single "new Hollywood" is coming to take its place.
Persons: Joe Gallegos Jr, he'd, Bailee Madison, Lukasiak, Pat Boone, Gallegos, JJ Abrams, HBO Max —, he's, It's, Patrick Adler, Taner Osman, couldn't, Tiffany FitzHenry, Lisa Brin, Brin, Noah Hawley, Maddy Bilder, Yorgos, Guy, Ryan Gosling, Emily Blunt, Tyler Mitchell, I've, Bilder, Adler, Otis, FitzHenry, hasn't, Keisha Perry, Cedric, I'm, She's, Lucia Moses Organizations: Netflix, HBO, of Labor Statistics, Westwood Economics, Planning Associates, Dallas, Miami, Hollywood, Bureau of Labor Statistics, Marvel, Otis, Creative, Lex Studios, Austin, Austin Film Society, Southwest, Sony, Universal Pictures, Ampere, Technology, ScreenIt, LA, Westwood, Gallegos, Business Insider's Media Locations: New Mexico, Los Angeles, Albuquerque, La La, Hollywood ., America, California, Atlanta, Hollywood, LA, Georgia, Kentucky, Lexington, New York, Ireland, Budapest, South Africa, Hungary, Australia, North America, Saudi Arabia, Miami
The Trust portfolio is what we use for the CNBC Investing Club. Back in April 2018, Trump ruled then-Twitter — now X and under the ownership of Trump efficiency czar Elon Musk . It was labeled "Trump stock" and a professional announcer, the deep-voice guy we used to use all of the time at the network, recorded it. I pushed the button whenever I was sure that a stock could somehow do well under the first Trump administration. There was no "Trump Stock," "Trump Stock" button pressing for Amazon that day.
Persons: Donald Trump, Trump, He's, Elon Musk, Lisa, Jeff Marks, Jeff, , Mark Zuckerberg, Zuckerberg, Jim Cramer's, Jim Cramer, Jim, Republican Donald Trump, Andrew Kelly Organizations: Dow Jones, Trump, CNBC, Twitter, Amazon, Facebook, Meta, New York Stock Exchange, Republican, U.S Locations: Bahamas, Butler , Pennsylvania, U.S, New York City
Billionaire Tilman Fertitta has increased his ownership stake in Wynn Resorts to 9.9%, according to a filing with the U.S. Securities and Exchange Commission. Wynn Resorts and Fertitta declined to comment on his increased stake. He is frequently outspoken about issues that affect Las Vegas, whether it is Formula One or historic union wage contracts. Wynn Las Vegas is the top-of-the-line, uber-luxurious resort on the Strip, and it owns two high-end resorts in Macao. That position gave him a 6.2% stake in the company and made him the second-largest individual shareholder in Wynn, after co-founder Elaine Wynn.
Persons: Billionaire Tilman Fertitta, Jefferies, David Katz, Wynn, Craig Billings, Ras Al Khaimah, Fertitta, Elaine Wynn, Steve Wynn Organizations: CNBC, Wynn Resorts, U.S . Securities, Exchange Commission, Hilton, Fertitta, Houston Rockets, Golden, Las, Wynn, United, United Arab Emirates, United Arab Locations: U.S, Las Vegas, Wynn Las, Macao, United Arab, Ras Al, United Arab Emirates, Wynn
AdvertisementIt was perhaps inevitable that Elon Musk — a tech titan and a prolific gamer — would try to turn government spending into a game. It's a natural move for Musk, who came up in the tech world in the early 2000s, as "gamification" took hold. "That's that kind of logic that you end up having if you're not really cautious about how it's designed." AdvertisementFor the government, that might hinge on what counts as waste and whether Musk's leaderboard can get people to agree. Otherwise, Hon said gamification might have short-term benefits but backfire in the long term as important, less-tangible factors are crowded out by overemphasizing one metric.
Persons: Elon Musk, , Elon, Musk, Jane McGonigal, McGonigal, Adrian Hon, You've, Richard Landers, it's, you've, Landers, Natalia Mehlman Petrzela, " Landers, Jill, It's, Petrzela, Musk's, gamification, he's Organizations: Service, Government Efficiency, University of Minnesota, SXSW, Netflix, Nike, New School Locations: gamification
AMD to lay off 4% of workforce, or about 1,000 employees
  + stars: | 2024-11-13 | by ( Kif Leswing | ) www.cnbc.com   time to read: +2 min
"We are committed to treating impacted employees with respect and helping them through this transition." AMD had 26,000 employees at the end of last year, according to a U.S. Securities and Exchange Commission filing. AMD stock is down 5% in 2024 while Nvidia shares are up 200%, making it the most valuable publicly traded company in the world. AMD said in October it expects $5 billion in AI chip sales this year, about a fifth of the $25.7 billion in total sales FactSet projects for AMD's 2024. AMD also makes processor chips for laptops, desktops and servers, competing primarily with Intel.
Persons: chipmaker, FactSet Organizations: AMD, Nvidia, U.S . Securities, Exchange Commission, Meta, Microsoft, Intel, Mercury Research
Chinese tech company Tencent is a gaming giant and the parent company of WeChat, the ubiquitous social messaging app in China. Cheng Xin | Getty Images News | Getty ImagesChinese social media and gaming company Tencent on Wednesday reported better-than-expected profit in the third quarter ended Sept. 30, spurred by growth in games, advertising and cloud services. Tencent reported profit attributable to shareholders surged by 47% year-on-year to 53.23 billion yuan ($7.37 billion) in the third quarter, compared with an LSEG estimate of 46.18 billion yuan for the period. The company's revenue rose by an annual 8% to 167.19 billion yuan, short of the 167.82 billion yuan analyst forecast. Marketing services revenue, previously called online advertising, surged by an annual 17% to 29.99 billion yuan, making it one of the fastest-growing categories outside gaming.
Persons: Cheng Xin, Tencent Organizations: Getty, Management, Gaming, Global Locations: WeChat, China, Weixin
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTake-Two Interactive CEO Strauss Zelnick: We're an organic growth story going forwardStrauss Zelnick, Take-Two Interactive chairman and CEO, joins 'Squawk Box' to discuss the company's quarterly earnings results, growth outlook, future of gaming, impact of AI, M&A outlook, and more.
Persons: Strauss
Chinese authorities last month announced high-level plans for subsidies and tax breaks to households with children under the age of 3. China's efforts to bolster birth rates have yet to address the core reasons for their rapid decline, according to analysts. Births in China have been on a drastic downward trend since the government implemented its "one-child policy" nationwide in 1980. An increasingly pressing factor for families in China is uncertainty about income for raising a child. After decades of rapid expansion, China's economy has slowed down, dragged down by a real estate slump.
Persons: Lauren Johnston, Harry Murphy Cruise, Austin Schumacher, Schumacher, Sheana Yue, Yue Organizations: Dongfang, China Studies Center, University of Sydney, United Nations, Moody's, Institute for Health Metrics, University of Washington, Oxford Locations: Lianyungang, China, U.S
Democrats are, meanwhile, coming to terms with the massive fallout of their failure to stop Trump’s return to power, even as they dissolve into self-recrimination. They lack a clear leader to revive their message or a platform of power if Republicans retain control of the House. Establishing dominance over Washington Republicans: Trump has been mostly behind closed doors since his victory rally last week. Trump is promising to return to the volatile foreign policy that defined his first term — and then some. The conundrum facing US allies was laid out by French President Emmanuel Macron, who rode the Trump first-term rollercoaster.
Persons: Donald Trump, Trump, , Mike Pompeo, Nikki Haley, Elise Stefanik, rouser Elon Musk, Volodymyr Zelensky —, Joe Biden —, Susie Wiles, Pompeo, Haley, Roger Stone, MAGA, , ” Trump, Tony Carrk, Elect Trump, Florida Sen, Rick Scott —, Vivek Ramaswamy —, Dakota Sen, John Thune, Texas Sen, John Cornyn, Thune, Cornyn, , Washington, trepidation, Jim Jordan, Dana Bash, Jordan, Jack Smith, Musk, Trump —, Vladimir Putin, Emmanuel Macron, Macron, ” Macron Organizations: CNN, White, Republicans, GOP, United, New York, Trump, Pentagon, Overseas, peerless, CIA, South Carolina governor’s, Washington Republicans, Republican, United States, Democrats, Union, Ohio Republican, SpaceX Locations: Florida, United Nations, Europe, Taiwan, Iran, Russia, United States, Arizona, Washington, South Carolina, New York, ., Dakota, Texas, “ State, China
The search platform is prioritizing Reddit's results. Going public, for Reddit, has entailed becoming a more welcoming place for users as well as for investors, Kessler said. "If you're public and these things come out, I mean, that could start having an impact on your market cap. Just as search engine optimization operations have gotten good at gaming Google, they can likely do it on Reddit, too. It's part social media, part search engine, part just a place for real answers, or as close to real as you're going to get on the internet today.
Persons: Reddit, It's, Steve Huffman, you've, Huffman, John Herrman, Mark Lehmann, Anita Ramaswamy, it's, Marcel Hollerbach, let's, Scott Kessler, isn't, Kessler, Jessica Melton, that's, What's, corporatization, Emily Stewart Organizations: Reddit, New Yorker, Google, Twitter, New York Magazine, Citizens JMP Securities, Meta, Facebook, Third, GameStop, WSB, PayPal, Brands, Business Locations: United States, Seattle
The US has sent Ukraine and Israel billions of dollars worth of ammunition in recent years. The wars in Ukraine and the Middle East show the US how much ammo it will need for its next big war. Beyond the ammunition, the US has also sent Ukraine a significant amount of armored vehicles, air-defense systems, drones, anti-tank weapons, small arms, and more. Given Beijing's formidable arsenal of anti-ship missiles, Navy vessels would need to be well-armed with interceptors to take down these threats and defend American assets in the Pacific. The US has transferred Patriot batteries and their associated interceptor missiles to Ukraine, where they have gotten a workout against Russian missiles.
Persons: , Bradley Martin, Biden, Dwight D, Eisenhower, Mark Cancian, Martin, Alexandra Shea, Lockheed Martin Organizations: US, Service, Factory, AP, Pentagon, Brown University, US Navy, Navy, US Marine Corps, Center for Strategic, International, RAND, US Army, Pacific . Officials, Russian, Ship Locations: Ukraine, Israel, Red, Navy, Russia, Ukrainian, Iran, Yemen, Gulf of Aden, Iranian, China
The Japanese tech giant revised its fiscal 2025 revenue target up slightly to 12.7 trillion yen. Sony also expects full-year operating profit of 1.3 trillion yen, in line with its previous forecast. That came as Sony saw strength in its game and network services division, which houses its popular PlayStation home console brand. Game and network services revenue at the company came in at 1 trillion yen, up 12% year over year. Sony's gaming division has held up well thanks to a shift to digital game purchases and the PlayStation Plus subscription service.
Persons: Organizations: Sony, PlayStation, Nintendo, VI
The Japanese tech giant revised its fiscal year 2025 revenue target up slightly to 12.7 trillion yen. Sony also expects full-year operating profit of 1.3 trillion yen, in line with its previous forecast. That came as Sony saw strength in its game and network services division, which houses its popular PlayStation home console brand. Game and network services revenue at the company came in at 1 trillion yen, up 11% year-over-year. Correction: This story has been updated to reflect that operating income jumped 73% year-over-year in the September quarter.
Persons: Organizations: Sony, PlayStation, Nintendo, VI
CNN —Pentagon officials are holding informal discussions about how the Department of Defense would respond if Donald Trump issues orders to deploy active-duty troops domestically and fire large swaths of apolitical staffers, defense officials told CNN. “Troops are compelled by law to disobey unlawful orders,” said another defense official. “But the question is what happens then – do we see resignations from senior military leaders? At the time, defense officials tried to include as few civilian employees as possible to limit the impact to the workforce, sources said. But “there are still ways a new administration could work around these protections,” a defense official said, even if it might take several months to do so.
Persons: Donald Trump, Trump, , Mark Milley, , Defense Lloyd Austin, Milley, John Kelly, Trump’s, Kelly, Hitler’s, Biden, , George Floyd, , Austin, ” CNN’s Oren Liebermann Organizations: CNN, Pentagon, Department of Defense, Joint Chiefs, Staff, , “ Troops, Trump, White, DoD, Defense, National Guard, White House, Defense Department, Customs, Reserves, Army, Congress, United States, Civilian, National Security and Intelligence, Management Locations: , , Hitler’s Nazi, United States
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AppLovin shares soared 45% on Thursday after the online gaming and advertising company issued guidance that was well above estimates and reported better-than-expected earnings and revenue. For the fourth quarter, AppLovin sees revenue of $1.24 billion to $1.26 billion, representing growth of about 31% at the middle of the range. The company said software platform revenue in the quarter increased 66% to $835 million, driven by improvements in AXON's models. Net income in the quarter increased 300% to $434.4 million, or $1.25 a share, from $108.6 million, or 30 cents a share, a year earlier. "AppLovin continues to impress with outsized revenue growth and incredible EBITDA conversion," analysts at Wedbush wrote in a report on Thursday.
Persons: It's, AppLovin, Wedbush, Adam Foroughi, it's, Foroughi, CNBC's CJ Haddad, Unity Organizations: Revenue
The 2024 election may have shown the mainstream media is losing its grip on political commentary. AdvertisementThe campaigns in this year's presidential election have shone a light on the waning influence of mainstream media. AdvertisementWhile mainstream media outlets are establishing growing audiences on apps like TikTok, young people still tend to get their news from influencers and non-legacy media accounts. Doug Eldridge, founder of Achilles PR agency, told BI that legacy media outlets will use the election to reassess their next steps. "Much like the dinosaurs, the legacy media will either adapt or become extinct."
Persons: , Brett Spencer, Harris, Trump familiarized, Joe Rogan's, Paul Reilly, Rogan, Trump, Elon Musk, Alex Cooper's, Kamala, Brandon Harris, Edison, There's, Jessica Coen, Jess Rauchberg, Doug Eldridge, Achilles, Eldridge Organizations: Service, City St, University of London, Trump, Newsweek, University of Glasgow, X, Journalism, Creative Media, University of Alabama, Pew Research Center, News Locations: City, City St George's, TikTok
Transactional, personality-based and erratic, the Trump doctrine made for a chaotic four years that left both foreign leaders and seasoned American national security aides exhausted and jittery. World leaders are open to all options, including making trips to New York or Trump’s Mar-a-Lago estate in Florida, sources said. Foreign leaders are relying on their experience with Trump during his first presidency, when flattery and personal attention paid dividends, as they approach him following his win. And that, in the end, could sum up Trump’s foreign policy doctrine in a sentence. The first clues about Trump’s policy will be the appointments he makes to senior national security positions.”CNN’s Alayna Treene contributed reporting.
Persons: Donald Trump, Trump, Trump’s, he’s, Joe Biden, , Benjamin Netanyahu, Emmanuel Macron, Macron, , Prince Mohammed bin Salman, Jamal Khashoggi, Mark Rutte, he’d, Shinzo Abe, Angela Merkel, Vladimir Putin —, , Dmitry Peskov, “ Let’s, Kim Jong Un, Xi Jinping, Xi, Putin, It’s, Mike Pompeo, Keith Kellogg, Mike Pence, Richard Grenell, Brian Hook, John Herbst, United States — Putin, ” Herbst, Alayna Treene Organizations: CNN, Trump, American, NATO, Israeli, Saudi, CIA, Biden, State Department, Republican Party, Council’s Eurasia Center Locations: Paris, Jerusalem, Riyadh, Washington, Florida, , Ukraine, North Korea, Iran, China, masse, Russia, New York, Lago, Trump, Taiwan, Beijing, Trump’s, Germany, , United States, Europe
KKR is in talks to acquire adtech firm Integral Ad Science, sources told Business Insider. AdvertisementPrivate equity firm KKR is in talks to acquire the publicly listed adtech company Integral Ad Science, three people familiar with the process said. In its second quarter, the company grew revenue by 14% to $129 million and raised its full-year guidance. A take-private deal by a private equity firm like KKR could help IAS grow further without the quarterly Wall Street scrutiny. In September, Axel Springer announced it would separate its media properties into a privately-owned company, while KKR retained the classifieds side of the business.)
Persons: Jefferies, , acquirers, Axel Springer, Ted Oberwager Organizations: KKR, Ad, Business, Service, Bloomberg, IAS, Google, Vista Equity Partners, Vista, FGS Global, Publishers
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