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Chris Sieroty

Insiders sell Wynn Resorts shares; analysts boost expectations

13 February 2014
LAS VEGAS -- Executives with Wynn Resorts, Limited have sold thousands of shares this month as its stock is trading near a 52-week high, leading analysts to examine their ratings and price targets. Matt Maddox, chief financial officer of Las Vegas-based Wynn Resorts, topped the list of those selling stock, shedding 30,000 shares Feb. ... (read more)

CG Technology sports books win $2.32 million on Super Bowl wagers

5 February 2014
LAS VEGAS -- Their race and sports books may still say Cantor Gaming over the entrance. But the recently renamed CG Technology said Tuesday its eight sports books generated 16 percent of Nevada’s total handle and captured an 11.8 percent win on Sunday’s Super Bowl. CG Technology’s sports books took in $19.02 million in wagers, a 30 percent increase compared with 2013. ... (read more)

Wynn Resorts earnings top estimates; Macau revenues rise 25 percent

3 February 2014
LAS VEGAS -- Wynn Resorts, Limited, the casino company that expects to open its Wynn Palace resort on Macau’s Cotai Strip during the first half of 2016, reported fourth-quarter earnings Thursday that easily beat analyst expectations. And the company’s revenues from its two Macau casinos increased by double-digits. ... (read more)

Global Cash Access names Ram Chary CEO to replace David Lopez

28 January 2014
LAS VEGAS -- Ram Chary has been appointed chief executive office of Global Cash Access Holdings Inc., the Las Vegas-based cash management company said Monday. Chary replaces David Lopez, who resigned as CEO to “pursue a new career opportunity,” the company said in a statement. Chary also assumes Lopez’s seat on the company’s board of directors. ... (read more)

Fantasy Sports Trade Association hosts winter meeting in Las Vegas

28 January 2014
LAS VEGAS -- The number of Americans paying to participate in fantasy sports has grown at a 7.8 percent rate annually over five years. That growth has transformed what was once a small group of devoted players into a multibillion-dollar business. In 2013, an estimated 33.6 million players participated in basketball, football, baseball and hockey fantasy leagues. ... (read more)

Cosmopolitan of Las Vegas guests can transfer points between Identity, Marriott Rewards

24 January 2014
LAS VEGAS -- The Cosmopolitan of Las Vegas is expanding its relationship with Marriott International, Inc., John Unwin, the resort’s chief executive officer, said Thursday. Guests staying at the 2,995-room Strip resort will now be able to transfer points between the Cosmopolitan’s Identity program and the Marriott Rewards program. ... (read more)

Nevada Gaming Commission OKs record $5.5 million fine against CG Technology

24 January 2014
LAS VEGAS -- The Nevada Gaming Commission on Thursday unanimously approved a record $5.5 million fine levied against the race and sports book subsidiary of Cantor Fitzgerald L.P. related to illegal bets by a top executive. “Today is a bad day,” Commissioner Tony Alamo said. “This is an enormously large sum of money. ... (read more)

William Hill's U.S. business posts 150 percent rise in net revenues

18 January 2014
William Hill PLC on Friday said its Las Vegas-based subsidiary had a strong fourth quarter, with amounts wagered up 34 percent and net revenue up more than 150 percent over the fourth quarter of 2012. The company, William Hill U.S., also reported an 8.3 percent gross win margin, a nice recovery from the 4.2 percent figure in 2012. ... (read more)

Sports books hope to attract fantasy sports players

17 January 2014
LAS VEGAS -- Sports betting is big business in Nevada with $3.45 billion wagered in race and sports books statewide in the last reporting year. It also helps bring in millions of tourists annually to wager on the Super Bowl and NCAA basketball tournament. “Sports betting has been tremendous for us this ... (read more)

Cosmopolitan tries new effort to set itself apart

14 January 2014
LAS VEGAS -- Over the last three years, The Cosmopolitan of Las Vegas has emerged as the luxury Strip resort known for its sexy and edgy advertising — a corporate philosophy that has set the property apart in a crowded gaming landscape. Today, the $3.9 billion casino-hotel continues to move beyond the ... (read more)

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