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Tribal Gaming Growth Hurts Laughlin and Reno, But Las Vegas Nevertheless Bulletproof, Says Analyst

Tribal Gaming Growth Hurts Laughlin and Reno, But Las Vegas Nevertheless Bulletproof, Says Analyst

The nationwide Indian Gaming Commission reported this that America's tribal gaming operators collectively generated $31.2 billion in gross gaming revenue, a 4.4 percent increase over 2015 week.

Harrah's Resorts SoCal is example of a joint-venture from a operator that is tribal a Vegas casino business that offers a style of Las Vegas throughout the Nevada border.

The growth that is biggest, year over 12 months, for tribal gaming nationwide was the Sacramento, California region, with an increase of 6.3 percent to $8.4 billion. Meanwhile, the Phoenix region exhibited fourth-best revenue increase in america, growing 4.4 percent to $2.9 billion.

It's clear Indian casinos in states bordering Nevada are enjoying health that is robust but what impact is this having regarding the Silver State's casino sector? Is tribal gaming a hazard to Nevada?

Tribes Thinking Big

Well, not so much to Vegas, gaming analysts told the Las Vegas Review-Journal this week, but it is really likely having an effect that is negative the north Las Vegas sector plus the Reno and Laughlin markets in specific, forcing those cities to rethink their approach.

Bo Bernhard, executive manager of UNLV's International Gaming Institute, thinks that the Laughlin and Reno markets have certainly been adversely affected by competition from Indian video gaming properties, which are now matching their commercial counterpart

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Casino News: Group Purchases Resorts World Catskills, Jerry Jones Gets Endorsement

Casino News: Group Purchases Resorts World Catskills, Jerry Jones Gets Endorsement

This week's casino news follows up on an account from the other day in which the Resorts World Catskills ended up being nearing bankruptcy. Fast forward to this week in addition they've found an answer for their woes that are financial.

Genting Group Purchases Upstate New York Casino

Last week, it had been reported that the Resorts World Catskills was on the brink of bankruptcy. This they've found a buyer to help them get out of financial trouble week.

The Genting Group has purchased the Resorts World Catskills from Empire Resorts. The announcement comes not as much as two months after the casino's parent company considered filing for Chapter 11 bankruptcy. Empire Resorts announced the sale along with of the remaining stocks of its $1.2 billion Las Vegas-style casino in Monticello set to transfer up to the Genting Group within the deal.

The Genting Group was currently the investor that is largest in this particular casino, owning 86-percent of the stocks before they completed their many recent deal. According to reports, the Genting Group purchased the remaining shares at about 15-percent more than their current market value. After its latest purchase, Genting Group now has a total of 40 gambling enterprises in its portfolio. The expectation is the sale will be finished at some point ahead of the end of the calendar year.

Las Vegas Sands Corp Facing $12 Billion Lawsuit In Macau

The Las Vegas

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