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Chris Sieroty Gaming Guru - Page 41Despite strong bookings, Cosmopolitan sees quarterly loss16 May 2011
The Cosmopolitan of Las Vegas' first quarter of operations is in the books, and despite its high occupancy rate, the newest resort on the Strip reported a $56.8 million loss, the company said Friday. The Cosmopolitan, which cost Deutsche Bank AG $3.9 billion to complete, generated $104.9 million in first-quarter revenue. ... (read more)
William Hill predicts fast sports betting growth in Nevada9 May 2011
LAS VEGAS, Nevada -- Is there anything else in Nevada William Hill PLC would be interested in buying? Ask Ralph Topping, chief executive of the British bookmaker, and his immediate answer is, "No, nothing at this time." His response isn't surprising, given that the company spent more than $53 million in less than a month to purchase three sports wagering companies in Nevada. ... (read more)
AGA optimistic with increasing casino revenues6 May 2011
LAS VEGAS, Nevada -- After two years of losses because of the recession, the U.S. casino industry showed a slight uptick in revenues in 2010, the American Gaming Association reported Wednesday. The AGA annual survey found commercial casinos in 22 states collected $34.6 billion in gross gaming revenues last year, an increase from $30.74 billion in 2009 and $32.54 billion in 2008. ... (read more)
Land-based casinos focus on federal legislation4 May 2011
LAS VEGAS, Nevada -- For more than a decade, brick-and-mortar gaming companies claimed that Internet gambling would cannibalize their business by turning customers who would normally visit a casino into stay-at-home gamblers. They also pursued legislation that would make Internet gambling illegal. But with ... (read more)
Activists in Vegas want ban on casino smoking3 May 2011
LAS VEGAS, Nevada -- Faced with increased competition from gaming in other states, Las Vegas hotels and resorts have been less than enthusiastic about an outright ban of smoking in their casinos. A number of casinos on the Strip and in Las Vegas have tried to accommodate nonsmokers by setting aside smoke-free table games or slot machine areas. ... (read more)
Steve Wynn discusses online poker and Macau2 May 2011
LAS VEGAS, Nevada -- Steve Wynn remains skeptical about business opportunities available online and the role the Internet will play within the gaming industry. Even with an estimated $4 billion to $6 billion wagered in the U.S. annually on online poker, Wynn, who has opposed online gaming for many years, was a tough sell when PokerStars came calling. ... (read more)
Vegas casino apologizes for banning transgender guest29 April 2011
LAS VEGAS, Nevada -- The Cosmopolitan of Las Vegas issued a strongly worded apology Thursday after an online report of a transgender guest who reportedly was banned for life from the hotel-casino for using a women's restroom. "We apologize to the individual guest and welcome her back to the resort anytime," the statement said. ... (read more)
PPA steps up online poker legalization fight26 April 2011
LAS VEGAS, Nevada -- With three poker websites popular with U.S. players seized, their founders indicted and billions of dollars in cash locked up in cyberspace, supporters of legalizing online poker stepped up their lobbying efforts Monday for federal regulations. Those efforts have been led by a small, ... (read more)
IGT sees growth in second quarter25 April 2011
LAS VEGAS, Nevada -- International Game Technology on Thursday reported net income that surpassed Wall Street's expectations, as the company benefited from improved sales and international lease operations.
IGT reported net income of $70 million, or 23 cents per share, for its fiscal second quarter ended March 31, compared with net income of $26 million, or 8 cents a share, a year earlier. ... (read more)
Vegas poker rooms hope for boost following online indictments22 April 2011
LAS VEGAS, Nevada -- The multibillion-dollar online poker business remains in turmoil a week after the U.S. Department of Justice indicted several of the industry's top executives and seized several of the largest poker websites. But the real winner behind the crackdown could be traditional, land-based casinos in Nevada. ... (read more)
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