Churchill, Boyd Complete Major Buyouts, Caesars U-Turns

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The Nevada Independent

Indy Gaming: International flights on the rise in Las Vegas

I spent the last two weeks in South America - Rio de Janeiro in Brazil, Iguazu Falls on the Brazil-Argentina border and Machu Picchu in Peru. I will simply say it was an amazing trip. Restoring direct international travel to and from Las Vegas following the pandemic was a top concern for the tourism industry. Given the numbers from March and recent…

Industry ・ 01 May 2024

The Nevada Independent

Indy Gaming: Boyd’s tribal partner planning Northern California casino expansion

The Sacramento-area property, which is managed by the Las Vegas company, could add a hotel, convention space and other non-gaming amenities. Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. If a colleague or associate emailed this…

Industry ・ 01 November 2023

Gwinnett Daily Post

Major Player Answers Las Vegas Strip Casino Sale Question

Caesars Entertainment flirted with selling one of its Las Vegas Strip properties for much of 2022. It was a public process that the company gave updates on regularly, but those updates never actually told people much. That led to all sorts of speculation as to exactly which Strip resort casino the company would sell. Logically, Planet Hollywood…

Land-based ・ 21 May 2023

The Street

Huge Las Vegas Strip Casino Deal Falls Through

Real estate on the Las Vegas Strip has become incredibly valuable. Strips of land sell for tens of millions of dollars and any parcel big enough to host a casino goes for much more than that. Actual casinos sell for billions of dollars. MGM Resorts International MGM sold Mirage to Hard Rock International for $1 billion and paid $1.625 billion to…

Land-based ・ 12 December 2022

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The Street

Caesars' Las Vegas Strip Asset Sale Has a Resolution

Real estate on the Las Vegas Strip has become incredibly valuable. Strips of land sell for tens of millions of dollars and any parcel big enough to host a casino goes for much more than that. Actual casinos sell for billions of dollars. MGM Resorts International MGM sold Mirage to Hard Rock International for $1 billion and paid $1.625 billion to…

Land-based ・ 02 November 2022

Yogonet

Boyd closes acquisition of Pala Interactive for $170M

Casino and gaming operator Boyd Gaming announced Wednesday it has closed on its previously confirmed acquisition of Pala Interactive and its subsidiaries for a total net cash consideration of $170 million. Keith Smith, President and Chief Executive Officer of Boyd Gaming, said: "Online casino gaming is an attractive growth opportunity for our…

Industry ・ 02 November 2022

The Street

Huge Las Vegas Strip Casino Deal Looks Dead

Fortunes get made and lost in Las Vegas and that's not just something that impacts gamblers. Companies including Caesars Entertainment (CZR), MGM Resorts International (MGM), Wynn Resorts (WYNN), and newcomers including Hard Rock International want a piece of the action on what has become the most lucrative (and competitive) 4.2-mile stretch of…

Land-based ・ 13 October 2022

Yogonet

Iowa: Churchill Downs' acquisition of Hard Rock Sioux City approved by gaming commissioners

Gaming company and horse racing giant Churchill Downs Incorporated (CDI) announced Thursday it is one step closer to buying Hard Rock Hotel & Casino Sioux City after being greenlighted by the Iowa Racing and Gaming Commission. The unanimous approval marks a major milestone in the company's $2.75 billion bid to buy Peninsula Pacific Entertainment…

Industry ・ 26 August 2022

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The Quad City Times

Iowa gaming commission approves Churchill Downs purchase of Hard Rock Sioux City

RIVERSIDE, Iowa - The company that owns the site of the Kentucky Derby is one step closer to purchasing the Hard Rock Hotel & Casino Sioux City after receiving approval from the state's Racing and Gaming Commission on Thursday. The unanimous approval, which came after little discussion from commissioners, marks a major milestone in the Churchill…

Gaming Authorities ・ 26 August 2022

Northern Nevada Business Weekly

Caesars spinoff VICI closes on big Vegas Strip property deal

FILE - A plane takes off from Harry Reid International Airport near casinos along the Las Vegas Strip, on Sept. 29, 2021, in Las Vegas. Caesars Entertainment spinoff VICI Properties said April 29, 2022, that it completed its $17.2 billion buyout of MGM Growth Properties, the Las Vegas Review-Journal reported. The deal was first announced last…

Travel ・ 12 May 2022

Vegas Slots Online

Caesars Looking to Offload Flamingo Casino for Over $1bn

Caesars Entertainment Inc. is looking to sell its Flamingo Casino for a price tag of over $1bn, per sources close to Bloomberg. interest has dwindled because of the necessary renovations No potential buyers have emerged from private deliberations regarding the sale. The casino has been offered to private firms and other agencies, but interest has…

Land-based ・ 06 May 2022

The Street

Caesars Closing in on Las Vegas Strip Casino Sale

Caesars Entertainment (CZR) - Get Caesars Entertainment Inc Report and MGM Resorts International (MGM) - Get MGM Resorts International Report fight for domination over the south and central Las Vegas Strip. Both companies have made recent moves to one-up the other, with the most notable being MGM essentially - though not literally - trading the…

Land-based ・ 06 May 2022

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Yogonet

Boyd to expand Fremont Las Vegas casino floor, upgrade dining offerings following record Q1 results

Boyd Gaming's Fremont Hotel & Casino in downtown Las Vegas is expanding its casino floor and replacing its former buffet with a new dining hall concept. Executives for the company made the announcement during a call with investors held on Tuesday, in which the company also reported record first-quarter revenues. The new dining hall is set to…

Land-based ・ 02 May 2022

Online Poker Report

Stardust Casino Owner Boyd Gaming Acquires Pala Interactive

Last week, Boyd Gaming announced that they'd reached a deal to buy Pala Interactive, a California online gambling software and services company. The deal is worth $170 million. Pala is largely owned by the Pala Band of Mission Indians. The group currently has business-to-business services in eight U.S. states and in Canada, and operates…

Sports ・ 01 April 2022

Vegas Slots Online

Boyd Acquiring Online Gaming Tech Company for $170m

Boyd Gaming is acquiring online gaming tech firm Pala Interactive for $170m. [Image: Shutterstock.com] Boyd Gaming has revealed that it is buying online gaming tech company Pala Interactive for $170m. a combination of cash and an existing credit agreement The casino company announced on Monday that its Boyd Interactive Gaming subsidiary will…

Industry ・ 29 March 2022

Sioux City Journal

UPDATED: Churchill Downs parent to take over Hard Rock Sioux City casino as part of $2.5B deal

SIOUX CITY -- The parent company of the iconic Kentucky Derby would gain control of the Hard Rock Hotel & Casino Sioux City as part of a blockbuster $2.485 billion deal announced Tuesday that also includes the sale of gaming properties in Virginia and New York. Under terms of its purchase agreement with Peninsula Pacific Entertainment, Churchill…

Gaming Authorities ・ 23 February 2022

Sioux City Journal

UPDATED: Churchill Downs parent to operate Hard Rock Sioux City casino as part of $2.485B deal

SIOUX CITY -- The parent company of the iconic Kentucky Derby would gain control of the Hard Rock Hotel & Casino Sioux City as part of a blockbuster $2.485 billion deal announced Tuesday that also includes gaming properties in Virginia and New York. Under terms of its purchase agreement with Peninsula Pacific Entertainment, Churchill Downs…

Gaming Authorities ・ 22 February 2022

Review Journal

Las Vegas casino investors wagering on comeback

When driving the Strip, walking its sidewalks or navigating its casinos, there is no mistaking it: America's rowdy gambling mecca is crammed with tourists again. And even though visitor volume remains below pre-pandemic levels, and the coronavirus outbreak has by no means been stamped out, casino investors are betting big that Las Vegas is back on…

Land-based ・ 23 November 2021

The Nevada Independent

A buyer’s market: Vegas Strip casinos a hot commodity

High-profile Las Vegas Strip resorts aren't put up for sale every day. Last week, however, Caesars Entertainment and MGM Resorts International, the Strip's two largest operators with a combined 17 properties, each said they wanted to part ways with a hotel-casino. In a year that has seen more than $30 billion in announced mergers and acquisition…

Covid ・ 08 November 2021

Travel Awaits

Two Major Las Vegas Strip Resorts Putting Hotels Up For Sale

Most visitors on the Las Vegas Strip know there are dozens of hotels and casinos, each with its own theme or individual aesthetic. But behind the scenes, many of the highest-profile properties are owned by two companies: MGM Resorts and Caesars Entertainment. And in the past few months, the two companies have been wheeling and dealing with their…

Travel ・ 05 November 2021

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Barron's

Las Vegas Has Been on a Roll. Here’s How to Play the Next Leg of Its Rally.

Investing in Las Vegas, like the city itself, continues to evolve. Starting last year, investors bid up Las Vegas-related stock prices and valuations, in part in anticipation of a strong economic recovery helped by pent-up demand, and in part because they look favorably on the recent rush of casino operators into the promising early days of digital…

Strategy Guide ・ 04 June 2021

Review Journal

12 Las Vegas casinos, resorts including Mirage, Palms remain closed

Las Vegas is known for being a city that never sleeps, but several of its properties have had their lights turned off for nearly five months. A total of 12 properties owned by MGM Resorts International, Caesars Entertainment Inc., Red Rock Resorts Inc. and Boyd Gaming Corp. have yet to reopen in Las Vegas, as occupancy rates hover as low as 30…

Travel ・ 07 May 2021

The Nevada Independent

Indy Gaming: Caesars pulls the plug on its three-year plan to sell a Strip casino

Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. If a colleague or associate emailed this newsletter to you, please to sign up and receive your own copy of Indy Gaming in your inbox. - Howard Stutz Caesars Entertainment CEO Tom Reeg wanted…

Sports ・ 09 November 2022