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Chris Sieroty Gaming Guru - Page 31Positives seen in Wynn expansion plan3 May 2012
The Macau government's approval of Wynn Cotai was perceived Wednesday as a "meaningful positive" by gaming analysts who believe the company's latest multibillion-dollar resort to be built on 51 acres will help ease investor concerns over Wynn Resorts Ltd.'s growth being constrained by capacity.
... (read more)
Macau approves $3 billion Wynn Cotai resort2 May 2012
The Macau government has approved a new 51-acre casino resort on the Cotai Strip, a subsidiary of Wynn Resorts Las Vegas announced late Tuesday.
Wynn Macau Ltd. said the government of the Chinese gambling hub has published formal approval of the land concession contract, paving the way for construction to start. ... (read more)
Tropicana Entertainment posts first quarter loss of $4.8 million2 May 2012
Tropicana Entertainment LLC, the gaming company controlled by investor Carl Icahn, on Tuesday reported a first-quarter loss as its three casinos in Nevada continue to struggle to recover from the recession.
The Las Vegas-based company posted a loss of $4.8 million on net revenues of $155.2 million for the quarter ended March 31. ... (read more)
Sports betting gets a push in New Jersey1 May 2012
If you thought bipartisanship between Republicans and Democrats in Congress was gone forever, you'd be wrong.
Reps. Frank LoBiondo (R-N.J.) and Frank Pallone Jr. (D-N.J.) announced a unique partnership on Monday to lobby for legalization of sports betting.
Pallone's measure, H.R. 3081, would exempt New Jersey from current federal law banning sports wagering except in four states. ... (read more)
Bally Technologies' $228.6 million third-quarter revenues a record27 April 2012
Bally Technologies Inc.'s focus on producing video slot machines featuring pop icons such as Michael Jackson and the Beach Boys helped the game manufacturer post record quarterly earnings and revenues.
The Las Vegas-based company on Thursday reported third-quarter net income of $29.9 million, or 67 ... (read more)
Buyer says sports book application moving ahead23 April 2012
British bookmaker William Hill PLC said it is confident about its prospects for the year ahead as it reassured analysts on Friday that gaming regulators would approve the company's $53 million purchase of three sports book operators in Nevada. "The Nevada licensing application to complete (our) U.S. ... (read more)
Report: Wynn Cotai deal sealed20 April 2012
Wynn Resorts shares rose almost 5 percent Wednesday after a report that the owners of the Wynn Las Vegas and Encore casinos in Macau may sign a land contract for a proposed resort in Cotai by the end of the month.
Macaubusiness.com cited the Journal Tribuna de Macau, which attributed the report to a source with knowledge of the multibillion- dollar deal. ... (read more)
British bookmaker's push for Nevada gaming license delayed18 April 2012
Is William Hill PLC's $53 million investment in Nevada in trouble?
No. But the British bookmaker's efforts to gain a Nevada gaming license have been delayed, despite previous expectations that regulators would vote in May. The company is seeking a license after last year's announcement that it will acquire three sports betting companies in Las Vegas. ... (read more)
Poker lobbying group marks Black Friday anniversary16 April 2012
The Poker Players Alliance on Friday reminded poker players that its lobbying campaign to organize gamblers is running out of time as the one-year anniversary of Black Friday's seizure of several of the most popular online poker sites approaches. Titled "The Players Will Never Fold," the PPA is urging ... (read more)
J.P. Morgan analyst tweaks Bally Technologies earnings estimates16 April 2012
J.P. Morgan gaming analyst Joseph Greff on Wednesday revised his earnings estimates for Bally Technologies Inc., citing slot machine shipments to Ohio casinos that were expected to be realized one quarter later than expected.
For the third quarter, Greff adjusted his estimate lower to 65 cents per ... (read more)
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