News

Brendan Bussmann quoted in the Las Vegas Review Journal

Thousands of MGM Resorts workers to be laid off Monday

by Bailey Schulz

Thousands of MGM Resorts International employees across the country have received notice that they will be laid off Monday.

The layoffs, which were first made public through a legal notice published in May, affect roughly 18,000 furloughed MGM employees – about a quarter of the company’s pre-pandemic workforce.

You can read the rest of the article here

Read More

Brendan Bussmann quoted in the Las Vegas Review Journal

Golden Nugget, others with Las Vegas ties damaged by Hurricane Laura

by Nicole Raz

Several casinos in Louisiana with Las Vegas ties have been dealt another blow – this time from Hurricane Laura.

Casinos in the area – and all over the country – were already reeling from the economic toll of the pandemic, which caused hotel-casinos to shutter their doors for months and to reopen with dampened visitation.

You can read the rest of the article here

Read More

Brendan Bussmann quoted on SportsHandle.com

DraftKings CEO Rips Rush Street Over Illinois Sports Betting: ‘Corrupt Idiots’

by Jill R. Dorson

DraftKings CEO and co-founder Jason Robins on Monday morning fired off some harsh words showing that the is unappreciative – to put it mildly- of competitor Rush Street Gaming’s jockeying in the Illinois sports betting field.  This comes on the heels of Gov. J.B. Pritzker on Friday rolling back the requirement that patrons must register for sports betting accounts in person, which Rush Street, operator of the Rivers Casino BetRivers online sportsbook, had favored.

You can read the rest of the article here

Read More

Brendan Bussmann quoted in the Las Vegas Review Journal

Wynn employees to receive stock in move to keep workers

by Bailey Schulz

Wynn Resorts Ltd. is offering key employees shares of the company in order to retain them during the COVID-19 pandemic.

The company on Tuesday offered a combined 176,247 shares to roughly 240 of its “top leaders” in Las Vegas and Boston, including executive officers, according to a Thursday filing with the Securities and Exchange Commission.  Workers will be able to cash out one year after receiving the stock grant.

You can read the rest of the article here

Read More

Brendan Bussmann quoted in the Las Vegas Review Journal

Hotel owners facing ‘unprecedented wave’ of foreclosures, group says

by Mike Shoro

Hotel owners are facing an “unprecedented wave” of foreclosures, without federal help with commercial debt relief, according to a Tuesday letter from the industry to Congress.

Nearly 1 in 4 hotels were at least a month late on their mortgage loan payments as of July, the highest figure on record, according to a recent report released by analysis firm Trepp.  Just 1.34 percent of hotels were in the same boat at the end of 2019, the report said.  Industry watchers said that figure is alarming, if expected.

You can read the rest of the article here

Read More

Brendan Bussmann quoted in Gaming Today

Millennials a boon

by Buck Wargo

Casinos have seen a bright spot during their reopening that the gaming industry hopes will continue once the coronavirus pandemic ends – a greater showing of millennials at their properties.

You can read the rest of the article here

Read More

Brendan Bussmann quoted in the Las Vegas Review Journal

Las Vegas preparing for Labor Day boost

by Bailey Schulz

Foot traffic is expected to spike in Las Vegas this Labor Day weekend, a much-needed boost for a tourism-driven  city that has seen visitation rates plummet because of COVID-19.

You can read the rest of the article here

Read More

Brendan Bussmann quoted in GGB News

For Macau, Light at the End of the Tunnel

by James Rutherford

The months of battering that Macau casinos have suffered during the coronavirus pandemic may be coming to an end with announcements out of China that it will again issue visas for mainland citizens to visit the gaming hub.

You can read the rest of the article here

Read More

Brendan Bussmann quoted in the Las Vegas Review Journal

Hotel-casino investors limp to end of 2nd-quarter earnings season

by Richard N. Velotta

Mercifully, the second-quarter earnings season has come to an end for publicly traded companies and operate casinos in Southern Nevada.

And investors are breathing a sigh of relief.

You can read the rest of the article here

Read More

Brendan Bussmann quoted in the Las Vegas Review Journal

William Hill poised to purchase Nevada CG Technology sportsbooks

by Richard N. Velotta

Nevada’s largest sportsbook operator will get even bigger by the end of the month if the Nevada Gaming Commission approves a Wednesday recommendation from the State Gaming Control Board.

You can read the rest of the article here

Read More