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Howard Stutz

Vegas gaming companies may face bigger tax bite in Macau

21 January 2015
A Chinese government official is hinting at a potential gaming tax increase ahead of license renewals for Macau's casino operators. A Hong Kong-based gaming analyst said Monday the comments — reported by several Chinese media outlets — was the first evidence that a government review of Macau's gaming industry will be linked to any gaming concession renewal talks. ... (read more)

Gaming regulators may allow wagering on Olympics

16 January 2015
LAS VEGAS -- The Nevada State Gaming Control Board will consider a regulation change next month that would allow Nevada sports books to accept wagers on the Olympics. The only question is whether or not the betting would be allowed on all Summer and Winter Olympics events, or just a handful of popular competitions. ... (read more)

Caesars places largest operating division into bankruptcy

15 January 2015
LAS VEGAS -- Caesars Entertainment Corporation placed its largest operating division into bankruptcy Thursday, taking the initial steps to eliminate almost $10 billion of debt and restructure the casino operator's troubled balance sheet. The pre-packaged filing covering Caesars Entertainment Operating Co. ... (read more)

American Gaming Association expands in membership, influence

14 January 2015
WASHINGTON, D.C. -- Inside the American Gaming Association's new headquarters in Washington are a few slot machines to entertain policymakers and other visitors. The free-play games also serve as instructional tools to teach gambling novices about the inner-workings of the casino industry. A large poker table is on order. ... (read more)

Baha Mar resort in Bahamas opening March 27

13 January 2015
The initial phase of the $3.5 billion The Baha Mar Casino & Hotel in the Bahamas will open March 27. The project, which has been under construction for almost three years, includes the 1,000-room Baha Mar centerpiece, a 300-room SLS LUX Hotel, and a 200-room Rosewood at Baha Mar Hotel. A 700-room Grand Hyatt Hotel will open later this year. ... (read more)

Law firm steeped in Nevada gaming history relegated to history pages

12 January 2015
LAS VEGAS -- Back when Nevada and Atlantic City were the only places in the United States to find casinos, the law firm Lionel Sawyer & Collins ruled the legal roost. With the New Year’s Day addition of nearly 20 of the firm’s attorneys into the Fennemore Craig law firm, Lionel Sawyer & Collins has been ... (read more)

Creditors attempting to block Caesars planned restructuring

12 January 2015
Junior level creditors of Caesars Entertainment Corp. are attempting to block this week’s planned restructuring of the casino company’s primary business unit. The lenders, led by Appaloosa Investment LP, filed an involuntary Chapter 11 bankruptcy against Caesars Entertainment Operating Co. on Monday in Delaware. ... (read more)

Z Capital Partners boosts stake in Affinity Gaming

12 January 2015
Illinois private equity firm Z Capital Partners, the largest shareholder in casino operator Affinity Gaming, has increased its ownership stake in the company whose holdings include the three Primm resorts and the off-Strip Silver Sevens. In a filing with the Securities and Exchange Commission, Z Capital said it now owns 39.5 percent of Affinity. ... (read more)

MGM Resorts to hold a job fair for 700 Las Vegas summer positions

5 January 2015
LAS VEGAS -- Las Vegas is facing snow on New Year’s, but MGM Resorts International is already thinking about the pool season. The casino operator will hold a seasonal job fair next week to hire more than 700 summer positions at the company’s 12 Strip resorts. Seasonal employees will support the properties’ swimming pools and related hotel operations. ... (read more)

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