Featured Articles Archive - Page 160

Penn National names top execs for Las Vegas properties

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 more

New Jersey Division of Gaming Enforcement gives affiliates 150 days to comply in order to obtain license

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 more

Inside Gaming: Despite the rumor, an MGM-Wynn merger is off-base

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 more

Downtown Grand shuffles leadership; Schorr becomes chairman

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 more

Paragon Gaming's Vancouver casino project under construction after five-year wait

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 more

Top 10 ways to improve the WSOP Colossus

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

Inside Gaming: Amaya poised for NASDAQ listing, but its Web gaming products still beyond reach

On Monday, American stock speculators will be able to buy shares of Internet gaming giant Amaya Inc. on NASDAQ.Meanwhile, American online poker players still can’t place wagers through the company’s most popular product.So go the trials and tribulations of Montreal-based Amaya.After spending $4.9 billion last summer to acquire Rational Group — the parent company of PokerStars.com and Full Tilt Poker — Amaya has become an important fixture in Internet gaming...read more

Caesars stock hits 52-week low as company seeks to stop bankruptcy litigation

The stock price of Caesars Entertainment Corp. sunk to a 52-week low Friday as investors worried about the outcome of legal proceedings in federal bankruptcy court, which could leave the casino operator on the hook for more than $1 billion in debt obligations.A decision against the company could force Caesars to follow its largest operating division into bankruptcy protection.Shares of Caesars closed at $6.41 on the Nasdaq Friday, down 75 cents, or 10.54 percent...read more

Perelman backs Graham's presidential bid despite proposed online gambling ban

Billionaire Ronald Perelman, who is the chairman and largest stockholder of lottery and slot machine giant Scientific Games Corp., plans to support the presidential bid of South Carolina Senator Lindsey Graham, despite the Republican candidate’s backing of legislation that would ban Internet gambling.Scientific Games, which is headquartered in Las Vegas, has a large interactive gaming division that operates online lotteries in the U.S...read more

Deal Me In: Doing dice the easy way

Dear Mark: I would like to learn how to play dice. What is the best way? Dave K.Craps with confidence, Dave, commences by reading a decent book on the game. For the dice apprentice, Henry Tamburin’s Craps: Take the Money and Run or Beat the Craps Out of the Casino by Frank Scoblete are two of my favorites for the beginner player...read more