US casino and racetrack operator Penn National Gaming has entered into a definitive agreement to acquire the Tropicana Las Vegas Casino and Hotel for $360 million (€323.5 million). Penn said that it intends to fund the acquisition of the Nevada land-based facility through an expansion of its existing credit facilities and cash in hand. Located on a 35-acre land parcel at the corner of Tropicana Boulevard and Las Vegas Boulevard, the Tropicana boasts a 50,000 square foot casino as well as more than 1,000 gaming positions and a sports book. The transaction and credit facility expansions remain subject to regulatory…

Sin City made huge successes of the casino resorts operated by companies such as Las Vegas Sands and MGM Resorts. However, for the last five years gaming in Asia, rather than U.S. operations, have lifted these companies’ profits. But with 2014 profits in Las Vegas on the rise, is Sin City on the way back? Following the 2008 financial crisis, Las Vegas profits dropped as American gamblers spent less on leisure travel and non essentials like gambling. At the same time, Macau profits started surging as the Cotai strip there opened and Las Vegas Sands dominated the Cotai Strip with the…

Analysts have been warning for months about the Macau gaming crackdown and a summer slowdown in VIP gaming after officials arrested several local lenders on charges of illegal money laundering. MGM Resorts International, Sands, Wynn Resorts and others with casinos in Macau have been impacted by weakness there. Naturally, revenue for Las Vegas Sands and other Macau-centric casinos collectively fell 3.6% in July to $3.5 billion, Macau officials said recently, led by a slide in high-roller VIP segment gaming. Telsey Advisory Group analyst Chris Jones said Monday that the mass market segment in Macau — tourists and casual middle-class visitors…

Las Vegas Review Journal – Caesars Entertainment Corp. officials were happy to discuss the company’s second quarter results Monday, including improvements in the Las Vegas market credited to the opening of The Linq and its centerpiece High Roller observation wheel. But don’t ask about Caesars’ ongoing restructuring plans to address its gaming industry-high $24.2 billion in long term debt. At the outset of the question-and-answer session with analysts and investors, Caesars Chairman Gary Loveman said the company wouldn’t provide any additional disclosures related to its capital structure. The first question concerned funding one of the company’s new affiliate divisions. “Unfortunately,…

Las Vegas Sun – With the 2014 World Series of Poker returning this week to the Rio, Las Vegas will be flush with poker fever. For those looking to try their luck at the tables just like their favorite poker professionals, there is Bravo Poker. The app helps users track and find live poker tables and tournaments at casinos throughout Las Vegas. The app features a live stream from the casinos so users can get up-to-date information about tables, and it shows which games are being played. It also lists casino deals and promotions to help users get the most…

Las Vegas Review Journal – Las Vegas continued its record pace for visitor volume in April as the Las Vegas Convention and Visitors Authority on Wednesday reported 3.5 million came to Southern Nevada, a 3.5 percent increase over April 2013. The city is now 4.8 percent ahead of 2013’s record clip with 13.7 million visitors in the first four months of the year. Nearly every measure of visitor activity except convention and convention attendance was higher in April than the previous year. Citywide occupancy was up for hotels and motels, weekend and midweek and Strip and downtown. The average daily…