Latest Hospitality and leisure industry News

Atlantic City casino profits declined by nearly 10% in first quarter of 2024

May. 22, 2024 15:09 PM EDT

ATLANTIC CITY, N.J. (AP) — Atlantic City's casinos saw their collective profits decline by nearly 10% in the first quarter of this year, and only two of the nine casinos were more profitable than they were a year ago, figures released Wednesday by state gambling regulators show. ...

Red Lobster closes dozens of locations across the US just months after 'endless shrimp' losses

May. 21, 2024 07:21 AM EDT

NEW YORK (AP) — Dozens of Red Lobster locations across the U.S. are on the chopping block. Restaurant liquidator TAGeX Brands announced this week that it would be auctioning off the equipment of over 50 Red Lobster locations that were recently closed as part of the seafood chain's...

Hometown of Laura Ingalls Wilder set for a growth spurt

May. 20, 2024 17:11 PM EDT

DE SMET, S.D. (AP) — A rural South Dakota county known mainly as the former home of beloved author Laura Ingalls Wilder is on the precipice of rapid growth as two record-setting agricultural processing plants are proposed for the area. If the planned projects — the state’s...

Red Lobster seeks bankruptcy protection days after closing dozens of restaurants

May. 20, 2024 15:23 PM EDT

Red Lobster, the casual dining chain that brought seafood to the masses with inventions like popcorn shrimp and “endless” seafood deals, has filed for Chapter 11 bankruptcy protection. The 56-year-old chain made the filing late Sunday, days after shuttering dozens of restaurants....

New Jersey overall gambling revenue up 10.4% in April, but in-person casino winnings were down

May. 16, 2024 15:36 PM EDT

ATLANTIC CITY, N.J. (AP) — New Jersey's casinos, horse tracks that accept sports bets and their online partners won more than half a billion dollars from gamblers in April, an increase of 10.4% from a year earlier, state gambling regulators said Thursday. But that was due in large...

The Mirage casino, which ushered in an era of Las Vegas Strip megaresorts in the '90s, is closing

May. 15, 2024 20:10 PM EDT

LAS VEGAS (AP) — The iconic Mirage hotel-casino on the Las Vegas Strip will shut its doors this summer, the end of an era for a property credited with helping transform Sin City into an ultra-luxury resort destination. The July 17 closure will clear the way for major renovations...

Here are the locations that Red Lobster is closing in the US

May. 14, 2024 13:28 PM EDT

Red Lobster says it is closing nearly 50 of its restaurants in the U.S. The locations span across more than 20 states — cutting back on Red Lobster’s presence in cities like Denver, San Antonio, Indianapolis and Sacramento. Red Lobster has been struggling for some time. With lease and labor...

Ark Restaurants: Fiscal Q2 Earnings Snapshot

May. 13, 2024 16:29 PM EDT

NEW YORK (AP) — NEW YORK (AP) — Ark Restaurants Corp. (ARKR) on Monday reported a loss of $1.4 million in its fiscal second quarter. The New York-based company said it had a loss of 40 cents per share. The restaurant and bar operator posted revenue of $42.3 million...

Despite numbers showing a healthy economy overall, lower-income spenders are showing the strain

May. 09, 2024 12:22 PM EDT

NEW YORK (AP) — Cracks are showing in one of the main pillars keeping the economy out of a recession: resilient spending by U.S. households. Consumer goods giants from PepsiCo to Kraft Heinz have described recently how the combination of high inflation and higher interest rates is...

Fans are following Taylor Swift to Europe after finding Eras Tour tickets less costly there

May. 08, 2024 19:01 PM EDT

LONDON (AP) — Thousands of ride-or-die Taylor Swift fans who missed out on her U.S. concert tour last year or didn't want to buy exorbitantly priced tickets to see her again found an out-of-the-way solution: Fly to Europe. The pop star is scheduled to kick off the 18-city Europe...