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Featured Articles Archive - Page 150
Articles by Howard Stutz
![]() Inside Gaming: Aristocrat No. 3 in slot industry, but CEO striving to move up15 June 2015 Australia-based Aristocrat Leisure Ltd. wasn’t left behind by the tsunami that engulfed the slot machine industry over the past 20 months.You just might not have noticed.Aristocrat, which operates its Las Vegas-based U.S. division as Aristocrat Technologies, spent $1.3 billion to buy Video Gaming Technologies, a Tennessee-based slot machine maker that provides games to the American Indian casino market.The deal got lost in the flurry of megatransactions.Eilers Research founder Todd Eilers, who follows slot machine companies, said that with the deals final, Aristocrat is the No...read moreArticles by Howard Stutz
![]() Boyd Gaming optimistic about Las Vegas locals market15 June 2015 In April, Boyd Gaming Corp. CEO Keith Smith said customer spending in Southern Nevada was on an upswing, which bodes well for the company’s three Coast Casinos properties and Sam’s Town Hotel & Gambling Halls.“There is still considerable room for improvement with the consumer and we need to see more durability,” Smith said during Boyd’s first quarter earnings conference call...read moreArticles by Howard Stutz
![]() Circus Circus has 'significant and iconic role' to play in north Strip recovery, says MGM exec11 June 2015 Before the recession sunk its claws into the Strip, the Circus Circus Hotel Casino routinely contributed $70 million to $80 million a year in cash flow to the balance sheet of MGM Resorts International.Today, that number is closer to $30 million.MGM Resorts still sees a benefit to owning the aging but familiar north Strip property the company acquired when it bought Mandalay Resort Group in 2005 for $7.9 billion.It has a loyal customer following.MGM Resorts Chairman Jim Murren said in a recent interview Circus Circus is “the most popular property” among the company’s 10 Strip resorts for Hispanic customers traveling from Southern California and other West Coast destinations.Murren said MGM Resorts “has taken a step back” concerning Circus Circus and is considering various options for the 3,800-room hotel-casino, which was opened in 1968 by the late Jay Sarno...read moreArticles by Howard Stutz
![]() Herbst family has plans to revitalize Searchlight Nugget11 June 2015 Herbst family-owned JETT Gaming was given tentative approval Wednesday by state gaming regulators to take over ownership and operation of the Searchlight Nugget, the historic gaming site in tiny Searchlight.The property, which was built in 1979 by Warren and Verlie Doing, fell on hard times over the past few years because of the recession...read moreArticles by Howard Stutz
![]() Penn National names top execs for Las Vegas properties11 June 2015 Regional casino operator Penn National Gaming, which owns M Resort and is buying the Tropicana Las Vegas, named a top executive Wednesday to oversee both operations.The move ends the stewardship of M Resort by Anthony Marnell III, who, along with his family-owned Marnell Corrao Associates, designed and built the stylish 390-room hotel-casino, which opened in 2009.Marnell, who remained as president of M Resort after Penn National took over ownership in 2011, will transition to a “new strategic consulting role for Penn National focused on community and political relations in Nevada,” according to a statement.Marnell will also consult on Penn National’s “long-term property development plans in Las Vegas.”Penn National Chief Operating Officer Jay Snowden credited Marnell and the Marnell family for the “high quality design and exquisite attention to detail” at M Resort.Marnell, he said, would be involved in long-range planning for the Tropicana, which Penn acquired in April for $360 million...read moreNew Jersey Division of Gaming Enforcement gives affiliates 150 days to comply in order to obtain license10 June 2015 The New Jersey Division of Gaming Enforcement (DGE) has given online gambling affiliates a 150-day window to clean up their acts if they wish to promote state-regulated sites to New Jersey residents in the future.A memo sent by the DGE and forwarded to the GPWA by Income Access (which has worked with the DGE on sorting out the affiliate marketplace) outlines the process with which affiliates must comply if they want to obtain – or continue to hold – an "affiliate license" and have previously promoted or currently promote sites that "illegally" take deposits from U.S...read moreArticles by Howard Stutz
![]() Inside Gaming: Despite the rumor, an MGM-Wynn merger is off-base10 June 2015 CNBC host and financial gossipmonger Jim Cramer set the gaming investment community aflutter last week.Cramer told his “Mad Money” audience there was “speculation” that Wynn Resorts Ltd. “might merge” with MGM Resorts International.The report was repeated on TheStreet.com website, where Cramer is a founder, director and the largest shareholder.There was zero substantiation, and he didn’t cite sources...read moreArticles by Howard Stutz
![]() Downtown Grand shuffles leadership; Schorr becomes chairman9 June 2015 Downtown Grand Las Vegas Hotel & Casino shuffled management at the 634-room hotel-casino Monday with CEO Seth Schorr giving up day-to-day operational duties and taking on the new title as chairman.Schorr will be replaced by Jim Simms, who joins Fifth Street Gaming after managing regional casinos in the U.S...read moreArticles by Howard Stutz
![]() Paragon Gaming's Vancouver casino project under construction after five-year wait9 June 2015 Casino operator Paragon Gaming has begun construction on a long-planned $600 million hotel-casino complex in Vancouver, British Columbia, that was scuttled in 2011 but revived nearly 2½ years later.Scott Menke, president of Las Vegas-based Paragon, said the development, called Parq Vancouver, is fully financed and will be the province’s largest private development...read moreTop 10 ways to improve the WSOP Colossus8 June 2015 I spent last week in Las Vegas covering the World Series of Poker's Colossus event. The $565 poker tournament drew 22,374 entries from 14,284 unique players; both numbers broke the record of 8,773 (players and entries) set by the 2006 WSOP Main Event.There's no doubt the tournament was a huge success...read more |
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