Las Vegas Sands Corp. has reached a definitive agreement to sell its Sands Bethlehem casino to an American Indian tribe from Alabama. It’s a move that would unload arguably Pennsylvania’s most successful casino — and one of the Lehigh Valley’s largest employment hubs — to a little-known, yet cash-flush, group looking to grow. Wind Creek Hospitality, a privately held affiliate of the Poarch Band of Creek Indians of Alabama, is acquiring the property for a total enterprise value — market capitalization plus debt — of $1.3 billion, representing one of the largest sales in the Lehigh Valley’s history. The 159,000-square-foot…

Scientific Games has reported year-on-year financial growth across all business segments for the 12 months to December 31, 2017. Revenue amounted to $3.08bn (€2.52bn), which represents an increase of 7%, or $200.2m, on the previous year. Operating income climbed from $130.6m in 2016 to $393.1m, while net loss also improved from $353.7m to $242.3m in the past 12 months. However, Scientific Games said that these improvements were partially offset by a $38.1m loss on debt financing transactions and a $139.5m decline in income tax provision “primarily related to a valuation allowance recorded against certain domestic deferred tax assets”. Elsewhere, adjusted…

Marriott International’s plan to open two luxury hotels on the north Las Vegas Strip at the long-stalled Fontainebleau site. The project could finally provide crucial energy for a stretch on the north end that has been largely dormant for the better part of a decade. Quiet since 2009 because of recession-era construction delays, the project is slated to open in 2020 as the Drew Las Vegas, a 4,000-room integrated resort that will include a JW Marriott and a hotel under Marriott’s Edition brand, as well as a third eponymous hotel, the Drew, which will be overseen in part by former…

The Pennsylvania Gaming Control Board has released an online gambling FAQ document designed to help people better understand the forthcoming online gaming industry. There’s nothing new or groundbreaking in the two-page document, but one aspect of the law that has been underreported is a prohibition on online casino and online poker at any of the 12 land-based casinos in Pennsylvania. The reason for this ban is protectionist. A false narrative was pushed during the gaming debate in the state that led to not only this strange prohibition, but also the exorbitant tax rate on online slots. The fear was that…

When you are looking for a new slot machine site the choice can appear overwhelming.  For instance, which slot games have the best jackpots and more importantly for casino players, which are the safe sites to use? With now hundreds, even thousands of casino sites available in the UK, where do you start? The important rules for new casinos players are: 1. Playing Safe Casinos that do not operate in the UK are simply a no go.  The Gambling Commission regulate and license all Casinos operating out of the UK under strict guidelines which were setup in the Gambling Act…

The Cheltenham Festival is known as being one of the biggest horse racing events in the horse racing calendar and is only second to the Grand National in race prize money in the United Kingdom. The festival hosts several Grade I races, which happen to be some of the most prestigious in horse racing. The Grade I races include the Champion Hurdle, the Stayers’ Hurdle, the Queen Mother’s Champions Chase and the Cheltenham Gold Cup. The highlight of the week is considered to be the Gold Cup, which also happens to be the most valuable non-handicap chase in Britain. The…