A "for sale" sign in front of a casino with a "sold" sign on it.

REITs -- Real Estate Investment Trusts -- have become an important part of how casinos are owned. These trusts are similar to mutual funds but instead of owning stocks, the investor develops a portfolio of residential and/or commercial properties or a portfolio of the mortgages for those online casino or brick-and-mortar properties.

the logo for Caesars Entertainment

Taking a short break from our Grande Vegas online casino news, let's look at what's new at one of the most famous land-based casinos in the world.  A summary of Nevada’s biggest casinos’ fiscal standing showed that most of the $1.2 billion casino-based losses in the state could be traced to Caesars Entertainment. The casino giant’s bankruptcy restructuring was blamed since, other than that blip, the reports show that Caesars did relatively well.

a view of Macau with Chinese new year decorations all around it.

The territorial government of Macau was pleased to host a record number of Vegas casino tourists during this month’s celebration of the Chinese New Year. The Chinese New Year is celebrated over the course of a week and officials were pleased to note a large jump in year-on-year tourism which brought the numbers of visitors to close to 38 million for the year. 

a judge's gavel about to hit a pile of casino chips

The American Gaming Association has released a report that indicates that the war against illegal sports betting may finally be over. The AGA surveyed individuals across a wide spectrum of American society and found that, if given the opportunity to engage in Vegas casino legal sports betting, 38% would be willing to use a regulated platform exclusively and 71% would use a regulated platform at least part of the time.

a baccarat table

Baccarat is generally regarded as the number one casino game in the world. Baccarat has been a staple of the Grande Vegas Casino and for many years. Since the waning years of the 20th century, the popularity of all variations of baccarat has skyrocketed, particularly in Asia and in America. In 2014 almost 91% of Macau casinos’ total income came from Punto Banco, the most popular variant of the baccarat game.

a map of New Jersey

Bet.Works will be launching a New Jersey sports betting app in the coming weeks. The Bet.Works app will be operated by the online casino sports media company theScore.

Marc Brody was named as Senior Vice President of Business Development for Bet.Works. He will be responsible for overseeing company business development as he defines opportunities for the company’s growth across the US. 

the Philippine flag with some casino chips on it

PH Resorts, a Philippine-listed firm, has received approval from the Philippines’ Securities and Exchange Commission (SEC) to move forward on plans to fund several casino-related projects. PH Resorts, owned by businessman Dennis Uy, was formerly known as Philippine H2O Ventures Corp. They plan to sell 1.786 billion common shares using  the China Banking Corp. as the domestic lead underwriter for the offering. 

a map of the United States with a big dollar sign on it

Following the introduction of sports betting in New Jersey, the state's reported $1 billion increase in gaming revenues is prompting other legislatures to look into the possibilities of bringing sports betting to their own states. 

a map of New York with sports equipment

New York Assemblyman Gary Pretlow is planning to go ahead with a new bill that would authorize retail sports betting at New York racetracks. The bill also provides for the introduction of online casino mobile sports betting.

a smiley face super-imposed on a Vegas casino building

Vegas casino operators were pleased with the November 2018 stats which, like the October numbers, show cause for hope. Many of the most important indicators are up and analysts are cautiously optimistic that the summer 2018 slowdown is just a bad memory.

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