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Like blackjack players who have been playing for hours, powerful corporate casinos can tell whether they have good or bad shoes through stacks of chips. Two casinos in Nevada are looking for new transformations. The Regent Casino in Summerlin, Nevada, filed for bankruptcy protection on Nov. 21. The casino failed to repay $5 million in loans in September, laying off 500 employees and closing two restaurants in October. It opened in July 1999. Before the opening bell, the company reported construction delays and cost overruns were responsible for its financial problems. Regent plans to cut at least a portion of its stake in Blackjack from $5 to reorganize its finances and attract more local businesses. The newly opened $1.4 billion Aladdin casino has also started to heat up, with Wall Street losing $40.2 million compared to $4.06 million in revenue. The company says it will seek additional sources of financing through additional borrowing or debt or equity financing if needed. Aladdin will have to pay $5 million to financial institutions in December and $11.7 million in interest in January. However, management remains optimistic, citing the reconfiguration of some slot areas, the popularity of London Club casinos, room occupancy and increased convention businesses. "We recognized all of our predecessors because they experienced that we would actually be in a period of growth," said Aladdin Gaming CEO Richard Goeglane during a recent conference call with investors. He hinted at a slow start to the opening ceremonies of Venice and Paris in 1999. However, not all the skies in the gaming world are cloudy. The Mandalay Resorts Group, which owns properties in Las Vegas such as Mandalay Bay, Luxor, Excalibur, Monte Carlo, and Circus-Circus, and others in Loughlin, Reno, and Detroit recently reported a 3% increase in business from last year. Amerista Casino, which operates casinos in the Midwest and Gulf Coast, reported an 11% increase in business, while Amerista Casino, which also operates gaming facilities in the Midwest, reported a 16% increase in business.

The New Jersey Bureau of Gaming and Enforcement (DGE) has fined Bogata Casino $75,000 following an audit that found it significantly overstated the iGaming promotional game credit (PGC) on its BetMGM platform. This latest breach, identified between October 2023 and May 2024, resulted in the casino understating gross revenue by more than $4.5 million, understating gross revenue tax by $365,161. Borgata's second major breach in 18 months: This is the second time in less than 18 months that Bogata has been found to have violated DGE's regulations regarding PGC. In March 2023, DGE found a similar issue with Bogata achieving nearly $10 million in promotional credits, resulting in significant underpayment of over $787,000 in taxes. The recurrence of these significant errors has prompted DGE to take stricter action against casinos. In DGE's audit report on July 10, 2024, it was noted that PGCs were overvalued in recent cases due to software upgrades on the BetMGM platform. The upgrade allowed promotional credits to be deducted for amounts exceeding bonuses paid to players by mistake. DGE emphasized that charging PGCs in excess of actual bonus amounts is a direct violation of the New Jersey Gaming Act, specifically N.J.S.A. 5:12-38a, which stipulates that such credits can only be issued as bets by sponsors and reported if they have received them (pdf), as stated in NJDGE's move on August 15. In a letter to Borgata's senior vice president and legal adviser, Patrick Madamba, DGE's interim director, expressed serious concern about the recurring nature of the breach, as reported by SBC Americas. "The department takes this issue seriously. The original breach was an undercount of nearly $10 million in gross revenue. This second undercount of gross revenue was more than $4.5 million. This undercount resulted in an valuation of additional taxes, tax fines, and more than $1.3 million in interest. It should also be taken into account that this was repeated less than 18 months after the department warned that further violations of this type could result in civil fines," Flaherty wrote. Flaherty highlighted that while underpayments were immediately corrected in both cases, a recurrence of such errors immediately after previous breaches could lead to further regulatory action. DGE's audit results, published on July 10, 2024, made clear that further violations could result in more serious penalties, including higher fines or other sanctions. DGE's extensive enforcement actions: Borgata and iGaming partner BetMGM are not the only operators that have faced fines from DGE in recent months. In July 2024, DraftKings was fined $100,000 for a significant reporting error that led to three months of sports betting tax returns. These errors involved overstating parry bets and understating other betting categories, which resulted in inaccurate tax returns. In addition, in early August 2024, DGE issued a bet365 order to pay New Jersey Better more than $500,000. The guidance follows an investigation that found Sportsbook to have altered its odds on events without notifying DGE, affecting 199 winning bets placed between December 2020 and November 2022. DGE labeled these actions as part of a "long-term and unacceptable course of action."