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Howard Stutz

Nevada regulators approve GTECH buyout of IGT

27 February 2015
LAS VEGAS -- Nevada gaming regulators on Thursday approved the equipment manufacturing sector’s largest-ever merger. After more than three hours of special meetings in Las Vegas, the Nevada State Gaming Control Board and Nevada Gaming Commission signed off on Italy-based lottery giant GTECH Holdings $6.4 billion buyout of Nevada-based slot machine manufacturer International Game Technology. ... (read more)

Caesars sells 20 percent interest in Ohio casinos

27 February 2015
LAS VEGAS -- Caesars Entertainment Corporation on Thursday sold its 20 percent interest in three Ohio casinos to partner Detroit-based Rock Gaming, LLC. A sale price was not disclosed. The deal was announced by Rock Gaming’s subsidiary, Rock Ohio Ventures. Caesars will continue to manage the properties, which will remain part of the company’s Total Rewards player loyalty program. ... (read more)

Gaming regulators say OK to Olympic betting in Nevada

27 February 2015
LAS VEGAS -- It didn’t take long for Nevada sports books to begin offering betting lines on the 2016 Summer Olympic Games in Rio de Janeiro. Within minutes after the Nevada Gaming Commission unanimously approved the regulation on Thursday, William Hill U.S. established Jamaica’s Usain Bolt as a -200 ... (read more)

A revived locals market could push Station Casinos to IPO

25 February 2015
LAS VEGAS -- There is no debate that Station Casinos, Inc. had a strong finish to 2014, giving analysts hope that recovery in the Las Vegas locals gaming market is underway. Now, the investment community may want a piece of the action. During the Station Casinos’ fourth-quarter earnings conference call a ... (read more)

Scientific Games says patent lawsuit against subsidiary dismissed

24 February 2015
LAS VEGAS -- Scientific Games Corporation said Monday a federal judge dismissed a more than five-year-old patent infringement lawsuit against a subsidiary the company acquired in its $5.1 billion purchase of Bally Technologies, Inc. last year. The lawsuit, filed in 2009 by Table Max Gaming against SHFL entertainment, was dismissed with prejudice by the United States District Court in Nevada. ... (read more)

Caesars denies another request from second-level bond holder

24 February 2015
LAS VEGAS -- For the second time in two weeks, the casino operator rejected a demand from an unsecured second level bondholder for payment of the obligations. In a filing with the Securities and Exchange Commission Monday, Caesars said BOKF N.A. asked for payment on $750 million in debt plus interest. ... (read more)

In historic vote, LVCVA approves purchase of Riviera

23 February 2015
LAS VEGAS -- By all accounts, it was a historic vote. In just more than an hour on Friday, the Las Vegas Convention and Visitors Authority board of directors agreed to purchase a Strip hotel that has been operating for nearly 60 years and at the same time, jump-start a project some say is bigger than the state’s Tesla Motors deal in Northern Nevada. ... (read more)

MGM Resorts plans job fair, hopes to add more than 500 workers in Las Vegas

23 February 2015
LAS VEGAS -- MGM Resorts International will hold a job fair Wednesday at the Mandalay Bay Resort & Casino Events Center to hire more than 500 permanent positions at 12 of the company’s Strip-area resorts. The job fair will take place from 10 a.m. to 7 p.m. Applicants are asked to park in the Mandalay Bay’s self-park garage. ... (read more)

Once down on its luck, Las Vegas's North Strip is coming back

23 February 2015
LAS VEGAS -- For a decade, north Strip casino operators anticipated a redevelopment of the area that would include new megaresorts and entertainment complexes rivaling projects underway on the boulevard’s southern end. The recession laid waste to those plans. Several hulking, uncompleted buildings — ... (read more)

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