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Chris Sieroty Gaming Guru - Page 13The Cosmopolitan continues slow, steady climb toward profitability16 May 2013
LAS VEGAS -- Even before The Cosmopolitan of Las Vegas opened in December 2010, analysts were debating how long it would take for the most expensive casino ever built on the Strip to turn a profit. In business for a full nine financial quarters, the $3.9 billion resort is still operating in the red, ... (read more)
William Hill to operate sportsbook at Downtown Grand15 May 2013
LAS VEGAS -- Fifth Street Gaming, developer and operator of the Downtown Grand, has signed a long-term agreement with William Hill U.S. to operate a race and sportsbook at the downtown Las Vegas casino, the company said Tuesday. Financial terms of the deal were not disclosed. The deal has to be approved by Nevada gaming regulators. ... (read more)
The Cosmopolitan posts first-quarter loss; casino revenues spike13 May 2013
LAS VEGAS -- Nevada Property 1 LLC, the parent company of The Cosmopolitan of Las Vegas, might have posted its ninth consecutive quarterly loss, but casino revenue at the luxury resort posted double-digit gains, topping increases in nongaming revenues. The Strip hotel-casino on Friday reported a loss of $24.7 million for the first quarter of 2013, compared to $23.4 million last year. ... (read more)
UNLV to offer gaming innovation course6 May 2013
LAS VEGAS -- Whether it was handheld football in the early 1980s at Coleco Industries or slot machines at Bally Technologies in the 1990s or SHFL Entertainment Inc. in the early 2000s, Yoseloff has seen technology evolve over the past 30 years. Today, a trustee with the University of Nevada, Las Vegas ... (read more)
Las Vegas Sands sets first-quarter record profit of $572 million2 May 2013
LAS VEGAS -- Las Vegas Sands Corp., the gaming company controlled by billionaire Sheldon Adelson, reported first-quarter earnings Wednesday that easily surpassed analysts’ estimates as growth at its Macau properties accelerated. The casino company last year increased its share of the Macau market with the opening of Sands Cotai Central, its fourth casino in the Chinese gambling enclave. ... (read more)
Downtown redevelopment takes center stage at Smith Center1 May 2013
LAS VEGAS -- The Strip may get most of the attention, but its neighbor to the north, downtown Las Vegas, continues a major transformation as investors and developers pour hundreds of millions of dollars into redevelopment. A change that hasn’t gone unnoticed by locals and tourists drawn to the neighborhood’s unique cocktail lounges, restaurants, one-of-a-kind boutiques and renovated casinos. ... (read more)
Slot-machine sales, social gaming boost IGT earnings29 April 2013
IGT - International Game Technology, a slot machine manufacturer and social gaming company, reported a modest increase in profit for its second quarter, helped significantly by growth in machine sales and social gaming. The company Thursday posted second quarter earnings of $78.2 million, or 29 cents per share, up from $61.9 million, or 21 cents per share, in the same period last year. ... (read more)
Wynn Resorts earns $202.9 million in first quarter, tops expectations29 April 2013
LAS VEGAS -- Wynn Resorts, Limited first-quarter profit rose modestly but enough to easily beat analysts’ expectations as the gaming company reported higher occupancy and improved revenues at its casinos in Las Vegas and Macau. The company’s success has been driven by a boom in gambling in Macau, the world’s largest gambling hub located in China. ... (read more)
Cantor Gaming signs deal with Atlantis resort in the Bahamas29 April 2013
LAS VEGAS -- Cantor Gaming signed a deal Thursday with the Atlantis at Paradise Island Resort and Casino in the Bahamas to provide the resort with mobile casino gaming and mobile sports wagering, as well as a new sports book. This is the first mobile wagering deal involving the Atlantis, according to the Las Vegas-based gaming company. ... (read more)
Wynn Resorts announces casino deal in Massachusetts29 April 2013
LAS VEGAS -- Wynn Resorts, Limited would make $30 million in advance payments to the city of Everett, Mass., and more than $25 million annually once a proposed casino opens for business, according to a host community agreement released Thursday. The agreement also calls on the Las Vegas-based gaming company ... (read more)
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