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Featured Articles Archive - Page 151
Colossus attracts new faces to WSOP30 May 2015 LAS VEGAS — One of the primary goals of the World Series of Poker's Colossus event, according to WSOP Executive Director Ty Stewart, was to attract new players."Seven or eight years ago, (tournament entries) were two-thirds new players and one-third returning players," said Stewart...read moreFinding fun at the WSOP's Colossus29 May 2015 LAS VEGAS — My World Series of Poker Colossus experience lasted just under three hours, during which I played well for about two hours and 45 minutes and played really, really badly for the last 10 minutes.Such is the nature of no-limit Hold’em tournaments...read moreArticles by Howard Stutz
Caesars in 'painstaking' process to restore lost retirement payments29 May 2015 The general counsel for Caesars Entertainment Corporation told the Nevada Gaming Commission and Control Board on Thursday that the casino company was going through a “painstaking” process to determine how its bankrupt division can restore lost retirement and deferred compensation payments to current and former employees.The issue came up during a routine suitability finding for one of Caesars’ executives.Caesars halted some $78.6 million in monthly payments in January when it filed a Chapter 11 bankruptcy for its largest operating unit...read moreWSOP Colossus field already exceeding expectations29 May 2015 LAS VEGAS — I knew when I registered for the World Series of Poker's "Colossus" last month that I would likely be playing in the world's largest poker tournament to date. But this is starting to get ridiculous.As of Thursday night, the two morning flights (5A and 5C) sold out of their 4,600-seat starting capacity and players were signing up to be seated in late waves, meaning they would miss the first few levels of the tournament...read moreArticles by Howard Stutz
Paragon Gaming approved to take over Westgate Las Vegas29 May 2015 The Nevada Gaming Commission and Control Board on Thursday approved casino management company Paragon Gaming to take over operations of the Westgate Las Vegas Resort & Casino.The takeover will become effective early Monday morning.Las Vegas-based Paragon is headed by Dianna Bennett, the daughter of the late Las Vegas gaming pioneer William Bennett.The company managed the Riviera Hotel and Casino for almost two years before it was acquired by the Las Vegas Convention and Visitors Authority in February and closed on May 4.In a similar presentation that was made earlier this month to the Gaming Control Board, Paragon President Scott Menke said Thursday the off-Strip resort is already benefiting from the planned association.More than 140,000 room nights that had been booked at the now-closed Riviera were transferred to the Westgate...read moreArticles by Howard Stutz
Station Casinos gets gaming license amendment, denies rumors of going public29 May 2015 State gaming regulators removed a condition Thursday from Station Casinos’ gaming license that was a holdover from when it was owned by a private equity firm. However, the company’s chief financial officer said it doesn’t mean the privately held casino operator was going public anytime soon.The change, approved unanimously approved by the Nevada Gaming Commission and Control Board, allows Station Casinos to pay financial distributions to the company’s owners without approval from gaming regulators...read moreArticles by Howard Stutz
Caesars resumes deferred compensation payments, but only for some27 May 2015 Caesars Entertainment Corporation is making payments to a portion of the company’s current and former employees who lost a combined $78.6 million in deferred compensation when the casino giant’s largest operating unit filed for Chapter 11 bankruptcy in January.In a statement Friday, Caesars spokesman Steven Cohen of New York-based Teneo Strategy said the company resumed payments this month to workers who were part of two of the five deferred compensation plans.Distributions were halted when Caesars Entertainment Operating Co...read moreArticles by Howard Stutz
Stockton University sues Caesars for fraud, breach of contract27 May 2015 A New Jersey college that bought the closed Showboat Atlantic City from Caesars Entertainment Corporation last year with plans to turn the shuttered casino into a college campus has sued the gaming company for $22 million in damages.A 1988 deed restriction that prohibits the 26-acre Boardwalk site from being used as anything but a hotel-casino was not resolved by Caesars before the company placed its largest operating unit into a bankruptcy reorganization in January.Stockton University spent $18 million to acquire the Showboat, which was closed in August...read moreArticles by Howard Stutz
Nobody likes the IRS's idea to lower the jackpot reporting threshold27 May 2015 Peter Erickson worries a suggested move by the Internal Revenue Service to lower the reporting level for gambling winnings will change his casino habits.It’s not that Erickson, who retired to South Florida 11 years ago, is considered a high roller.A few times a week, he plays the slot machines at the Isle Casino Racing Pompano Park in Pompano Beach or one of the properties owned by the Seminole Indian Tribe, such as the Seminole Casino Coconut Creek or the Seminole Hard Rock Hotel & Casino Hollywood near Fort Lauderdale.However, reducing the reporting rules for winnings on slots, keno and bingo from $1,200 to $600, could hurt seniors like Erickson...read moreArticles by Howard Stutz
Affinity Gaming rejects buyout offer from Z Capital26 May 2015 Casino operator Affinity Gaming formally rejected a buyout offer proposed by the company’s largest shareholder, saying the price was too low.In a letter to James Zenni, the CEO of Illinois-based Z Capital Partners, Affinity board member Matt Doheny said the offer of $9.75 per share “significantly undervalues” the company...read more |
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