Wynn Resorts is having a week that is good.

Steve Wynn’s choice to buy up one million of his own company’s stocks appears to own restored market faith in their business, and a previously delayed opening for his latest Macau venture has been once again returned to its initial opening date.

The company’s stock, which has declined steadily in unison with Macau’s fortunes over the year, rallied in the wake of this news that the mogul had spent around $63.9 million to acquire 1,003,977 shares in the market that is open at $64.44 each.

It is a extremely bullish move from Wynn, who, despite the slump in Macau, clearly has faith within the long-term profitability of Wynn Palace Macau, the $4.1 billion mega-resort currently under construction on the Cotai Strip.

The market responded accordingly, and share rates climbed, finishing up at $69.91 during the close of trading on Friday.

Placing His Money Where His Casinos Are

The market always reacts well to bullish stock purchases, especially once they come through the brass that is top. Motley Fool said this week that, despite Macau’s tumbling fortunes, Wynn Resorts remains a proposition that is strong long-term investors.

‘ In this full case, not only is Steve Wynn bullish on his company, he’s placing his money where his mouth is,’ stated The Foo Continue reading →

DraftDay Gaming Group, co-owned by Sportech and Viggle, announced plans this week to implement an ‘industry-defining consumer protection initiative’ that will mimic the regulatory safeguards utilized by online gambling markets in the usa.

After consulting aided by the National Council on Problem Gambling (NCPG), DraftDay settled for a variety of guidelines that will develop a safer, more transparent daily fantasy sports (DFS) industry.

The business-to-business DFS supplier, that also operates unique standalone platform, has partnered with GeoComply, IDology, and Paysafe to display how daily fantasy contests is properly controlled while at the same time protecting players.

‘With phone calls for stricter consumer protection by many state governments, DraftDay, with the NCPG, has generated a set of skill-based fantasy that is daily consumer-oriented policies to deal with each state’s increased demands for security and accountability,’ DraftDay CEO Rich Roberts stated in a press release.

The (Daily Fantasy) Sports Authority

The NCPG is among the leading voices in the United States when it comes to gambling that is discussing and controls, the agency could be the primary advocate in fighting for those prone to and affected by problem gambling.

In October, the council included a Continue reading →