New York’s bad bet on casinos: Have Gov. Cuomo and legislators learned their lesson? – New York Daily News

As Gov. Cuomo and the Legislature prepare this years economic development strategy, let us hear no more fanciful hopes and dreams about the supposed benefits of expanding casino gambling in New York. An ill-advised 2013 referendum that approved up to seven new full-scale gambling casinos has already proved to be a disappointment, delivering far…

Chinese ‘shadow debt’ an $18.5 TRILLION market which could COLLAPSE the banking system – Express.co.uk

Shadow debt broadly refers to a type of wealth management products (WMPs) that are sold off the books to Chinas swelling middle-class as they look for risk-free savings options preferable to the gambling culture of the stock market while offering superior returns when compared to the savings rates offered by banks. Savers are usually offered…

Gambling Stock Roundup: PENN, BYD Announce Buyouts, MLCO Launches Hotel Brand – Nasdaq

The last week saw gambling industry players Penn National Gaming Inc. PENN and Boyd Gaming Corporation BYD announcing buyouts. Melco Resorts & Entertainment Limited MLCO announced the launch of a luxury hotel brand, NUWA. Week’s Most Important Stories in Detail Penn National agreed to buy Pinnacle Entertainment Inc. (PNK) for $1.87 billion in cash and…