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Chris Sieroty Gaming Guru - Page 34Boyd Gaming exec sees Vegas economy rebounding17 February 2012
LAS VEGAS, Nevada -- This year will be another step forward for Las Vegas' economy and the gaming industry as the region continues its long recovery from the recession, Boyd Gaming Corp. President and Chief Executive Officer Keith Smith said.
"We've been through the worst of it," Smith said. "What we experienced in 2008 and 2009 was something none of us had seen before. ... (read more)
Cosmopolitan of Las Vegas lays off 40 employees15 February 2012
LAS VEGAS, Nevada -- The Cosmopolitan of Las Vegas announced Tuesday that it has laid off more than 40 employees in its gaming operations department. "In evaluating our business needs, we have determined it was necessary to make a small reduction in staff, less than 1 percent of our total work force," the company said in a statement. ... (read more)
SEC investigating Wynn Resorts Macau dealings14 February 2012
LAS VEGAS, Nevada -- The U.S. Securities and Exchange Commission is investigating Wynn Resorts Ltd's business practices in Macau, the company disclosed in SEC filings Monday.
The SEC's probe relates to a dispute between Wynn Resorts and its largest shareholder, Kazuo Okada, which includes Okada's demand ... (read more)
Tribal gaming companies look to restructure debt13 February 2012
LAS VEGAS, Nevada -- Florida's Seminole Tribe has turned Indian gaming into a global enterprise and big returns, but not all reservation casinos are doing as well. The recession, which hit the entire casino industry hard in 2008, has forced tribes from New Mexico, California and Connecticut to either default on millions of dollars in debt or to refinance their bonds. ... (read more)
Fertittas get majority ownership of Station Casinos8 February 2012
LAS VEGAS, Nevada -- Station Casinos LLC minority owners Frank Fertitta III and Lorenzo Fertitta plan to buy out another shareholder for $73 million, giving the Fertitta family majority ownership of the gaming company founded by their father, Frank Fertitta Jr.
In a regulatory filing with the Securities ... (read more)
Ladbrokes makes move into U.S. gaming market1 February 2012
LAS VEGAS, Nevada -- Ladbrokes PLC has made its first purchase in Nevada as the company positions itself to take advantage of what it believes will be the eventually legalization of sports wagering in the United States. The United Kingdom-based sports book and online casino paid $3 million to acquire 65 ... (read more)
Regulators OK Cantor operation of Palms sportsbook27 January 2012
LAS VEGAS, Nevada -- The Nevada Gaming Commission on Thursday unanimously approved Cantor Gaming's application to take over operations of the race and sports book at The Palms Casino Resort, a deal that's part of the hotel-casino's multimillion-dollar upgrade. Cantor Gaming President and CEO Lee Amaitis told the five-member commission his company would take over the sports book on Feb. ... (read more)
Nevada company granted gaming license27 January 2012
LAS VEGAS, Nevada -- Nevada Gold & Casino Inc. on Thursday was granted its gaming license by the Nevada Gaming Commission, allowing the company to complete its acquisition of a minority stake in The Nugget in Reno. Robert Sturges, president and CEO of Nevada Gold, said the company invested $26,000 to buy a 1 percent stake in the Reno casino. ... (read more)
Gaming companies praise New Jersey's sports betting initiative23 January 2012
LAS VEGAS, Nevada -- Twenty years after New Jersey failed to meet a federal deadline to legalize sports wagering, Gov. Chris Christie is betting his signature of a bill legalizing the industry there will force Congress or the courts to overturn the federal ban.
Gaming companies in Las Vegas applauded the move. ... (read more)
New Palms president optimistic on prospects18 January 2012
LAS VEGAS, Nevada -- Joseph Magliarditi is bullish about The Palms Casino Resort. The president of the off-Strip resort said Tuesday the property has enjoyed a profitable last six months of 2011, even as the hotel finalized its new ownership structure. "We've had very good run over the last six months from a financial aspect," Magliarditi said. ... (read more)
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