Wynn Resorts Dividends Slashed Following Macau Slump

Wynn Resorts Dividends Slashed Following Macau Slump

Wynn Resorts share dividends took a nosedive this week because of results that are poor Macau gambling.

Wynn Resorts Ltd is moving on the pain sensation of the sharp drop in Macau gambling to its shareholders by cutting dividends by 67 percent, Bloomberg reports.

The gambling chain, which owns and runs the Wynn Macau casino resort, posted its earnings for the quarter that is first of this week, and the news isn’t pretty if you are an investor.

Revenue was hovering just under $1.1 billion, a lesser figure than industry quotes of $1.12 billion.

As being a result, dividends from shares spiraled downwards to 50 cents per share. That’s a 3rd associated with $1.50 given out in February.

Wynn Resorts Ltd also posted a $17.1 billion table games turnover in the VIP sector, a drop of over 52 percent set alongside the exact same quarter year that is last. Table games return in the mass market sector ended up being also down, by 7% to $279.6 million.

After the dividends results were announced, Wynn shares dropped 9 percent to close at $130.48.

Macau Clampdowns Affecting Everyone

The continuing crackdown on corruption in China is having a huge effect regarding the Macau economy. Chinese President Xi Jinping happens to be on a crusade the year that is past so to prevent thousands of public officials taking off towards the Macau peninsula with public funds.

The amount of money allowed to be brought from the mainland to Macau, China’s s Continue reading “Wynn Resorts Dividends Slashed Following Macau Slump”

FanDuel Signs Partnerships with 15 NFL Teams

FanDuel Signs Partnerships with 15 NFL Teams

The Packers are among the many NFL teams to sign partnership agreements with FanDuel.

FanDuel and DraftKings seem to be locked into a battle over which daily fantasy sports site can find bigger and better partners because of their brand name.

This week, it absolutely was FanDuel making waves, because the larger of the two major daily fantasy heart of vegas play free casino slots brands scored a partnership with approximately half of the franchises in the National Football League, ensuring which they’ll have branding in many stadiums for the season that is coming.

The deal that is new allow FanDuel to have signage in stadiums, use radio and electronic advertising, and work on promotions with the individual groups.

However, the deal isn’t without conditions, and it’s clear that the NFL is nevertheless being slightly cautious whenever it comes down to enabling the fantasy that is daily industry to be an integral part of their league.

FanDuel is Not Official Sponsor for Teams or League

Underneath the agreement that is current NFL team logos still can not be utilized by FanDuel, either in advertising or on their website. FanDuel also will not be considered an ‘official’ sponsor of either the NFL or any team that is individual.

They are similar to the restrictions that are placed on relates to casinos as well as other gambling venues whenever they reach marketing agreements with NFL teams.

‘A group sponsor is a company that can make use of the group logo or say, ‘We are Continue reading “FanDuel Signs Partnerships with 15 NFL Teams”

Sheldon Adelson Outspent by Online Gambling Lobbying

Sheldon Adelson Outspent by Online Gambling Lobbying

Las vegas Sands CEO Sheldon Adelson has been outspent with a margin that is wide it comes down to online gambling lobbying efforts. (Image: forbes.com)

Las Vegas Sands CEO Sheldon Adelson could see on the web gambling as a threat to his land-based gambling enterprises, but on the web gambling proponents see Sheldon Adelson being a danger with their existence also. Perhaps that explains why both edges for the Internet gambling debate have experienced no trouble flashing some dough in their efforts to either protect or destroy online gambling in the United States.

Among the major battlefronts is winning over key legislators in Congress who could push through bills or stall the efforts of opponents. As you would expect, there’s been plenty spent on lobbying from all relative sides of the video gaming industry on the issue of Web gambling. That which you might not have guessed is that billionaire Sheldon Adelson is being outspent by his opponents, and by a significant margin.

Caesars Significantly Outspending Sands

According to information at OpenSecrets.org, a site that tracks all publicly available informative data on governmental contributions, the Las Vegas Sands Corp. invested $290,000 through the 2nd quarter of 2014 on the lobbying efforts to stop online gambling. That brought their total for the year to $460,000.

That is not insignificant in the world of lobbying, therefore the results have shown in the introdu Continue reading “Sheldon Adelson Outspent by Online Gambling Lobbying”

Sheldon Adelson Outspent by Online Gambling Lobbying

Sheldon Adelson Outspent by Online Gambling Lobbying

Vegas Sands CEO Sheldon Adelson has been outspent by way of a wide margin when it comes to on the web gambling lobbying efforts. (Image: forbes.com)

Las Vegas Sands CEO Sheldon Adelson could see online gambling as a threat to his casinos that are land-based but online gambling proponents see Sheldon Adelson as a hazard with their presence aswell. Perhaps which explains why both sides of the Internet gambling debate have had no trouble blinking some money in their efforts to either protect or destroy gambling that is online the United States.

One of the battlefronts that are major winning over key legislators in Congress who could push through bills or stall the efforts of opponents. As you would expect, there’s been plenty spent on lobbying from all sides of the video gaming industry on the problem of Internet gambling. What you might not have guessed is that billionaire Sheldon Adelson is actually being outspent by his opponents, and also by a significant margin.

Caesars Significantly Outspending Sands

According to information at OpenSecrets.org, a site that tracks all publicly available information on political contributions, the Las Vegas Sands Corp. invested $290,000 through the 2nd quarter of 2014 on the lobbying efforts to stop online gambling. That brought their total for the year to $460,000.

That is not insignificant in the world of lobbying, and the outcomes demonstrate within the introduction of bills s Continue reading “Sheldon Adelson Outspent by Online Gambling Lobbying”