![]() Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter! Our Strategy Experts
Gaming News
Casino City Times has the latest International Gaming News.
|
Featured Articles Archive - Page 162
Articles by Howard Stutz
![]() Company: Elaine Wynn had conflicts in Strip land deal25 March 2015 LAS VEGAS -- Wynn Resorts, Limited accused ousted board member Elaine Wynn of several conflicts of interest, including her participation in company discussions over potentially buying the vacant New Frontier site, which was subsequently acquired by a group that included her nephew.The casino operator sent a letter to shareholders Tuesday, asking them to support the company’s two board nominees and ignore Elaine Wynn, company Chairman and CEO Steve Wynn’s ex-wife, who launched a proxy fight to regain her seat.In a slide presentation for investors posted to the company’s website Tuesday, the company said Elaine Wynn “participated in board meetings in which Wynn Resorts’ plans to acquire property in Las Vegas were discussed at length.”One property the company looked at was the nearly 35-acre New Frontier site, across from Wynn Las Vegas...read moreArticles by Howard Stutz
![]() Caesars retiree bitter after flow of pension checks stops25 March 2015 LAS VEGAS -- Kenneth Houng became one the Strip’s first Asian casino hosts when he joined Caesars Palace in 1982.He never wanted to work anywhere else. He spent 32 years at the resort, retiring as an executive vice president.“Caesars was the place to work...read moreArticles by Howard Stutz
![]() Resorts World Las Vegas groundbreaking announced24 March 2015 LAS VEGAS -- Malaysia-based Genting Malaysia Berhad will break ground on the $4 billion Resorts World Las Vegas on May 5, a company spokesman said Monday.The Strip development, which has been in planning for two years, is projected to include 3,000 hotel rooms and a casino with a combined 3,500 slot machines and table games in its initial phase...read moreArticles by Howard Stutz
![]() Long-term, negative side of REITs argued24 March 2015 Not everyone associated with the casino industry has caught REIT fever.Several analysts and insiders aren’t sold on the notion that real estate investment trusts — where casinos are spun-off into a separate publicly traded company and leased by back to an operator — as being a good move for all gaming companies.The short-term gains — tax benefits, a boost in stock prices and potentially lower debt — can be overshadowed by long-term issues...read moreArticles by Howard Stutz
![]() Gaming group: Rank Las Vegas higher for security funding24 March 2015 LAS VEGAS -- The American Gaming Association (AGA) wants the Homeland Security Department to rank Las Vegas higher for the city — primarily the Strip — to better fund programs that protects the state’s $53 billion a year casino industry.During a Monday telephonic news conference, in which the Washington-based trade organization announced new members, association CEO Geoff Freeman said Homeland Security has not ranked gaming as a priority industry.“Las Vegas is a potential threat (target) and we have had productive conversations with the Nevada (congressional) delegation to ensure the unique characteristics of Las Vegas, and gaming in general, are taken into consideration,” Freeman said.Earlier this month, Freeman thanked the Nevada delegation for its efforts and asked that it continue to ensure that Las Vegas remains a priority for Homeland Security...read moreTop-10 things I learned as a charity poker tournament director23 March 2015 Last Saturday, I had the honor of serving as tournament director for a charity poker event to benefit a local non-profit organization that my wife is involved in. Everyone involved left feeling like the event was a success; players and event staff went home smiling and we raised a little money for the charity.I was surprised just how exhausted I was at the end, however...read moreArticles by Howard Stutz
![]() Inside Gaming: Global Cash Access rings up winner with small Texas manufacturer23 March 2015 LAS VEGAS -- A year ago, the gaming investment community didn’t pay much attention to Global Cash Access.The Las Vegas-based company did a quiet and exceptional job providing casinos with ATMs, point-of-sale and debit card transaction devices, slot machine ticket redemption kiosks and other payment processing equipment.Then, Global Cash Access stole the best little slot machine manufacturer in Texas.Stole is probably a misnomer.Global Cash Access paid $1.2 billion for Multimedia Games, Inc., which had its corporate headquarters, manufacturing facilities and development offices in Austin, Texas...read moreArticles by Howard Stutz
![]() MGM advises shareholders to not vote for hedge fund candidates23 March 2015 LAS VEGAS -- MGM Resorts International told shareholders Friday not to vote for any of the board of director candidates offered by a New York hedge fund that suggested this week the casino company convert its land holdings into a real estate investment trust.In a preliminary proxy filing with the Securities and Exchange Commission, MGM Resorts rejected the board candidates offered by Land and Buildings Investment Management, which owns less than 1 percent of the company’s outstanding stock.Among the candidates offered was Land and Buildings founder Jonathan Litt, who said MGM Resorts could reduce its debt by $5 billion and increase its valuation through REIT conversion.MGM Resorts asked shareholders to approve its slate of 11 current board members, including company chairman and CEO Jim Murren...read moreArticles by Howard Stutz
![]() Game on: Elaine Wynn files formal proxy to regain board seat23 March 2015 LAS VEGAS -- Ousted Wynn Resorts, Limited board member Elaine Wynn filed her formal paperwork to regain her position with the casino company Friday, but changed one item from the preliminary proxy that was released a day earlier.According to the filing with the Securities and Exchange Commission, Wynn said former Gov...read moreDeal Me In: Your chances of busting are not as great as you think20 March 2015 Dear Mark: Your reference to splitting 10s in the last round of a tournament reminds me of my favorite casino story: Dice isn’t my game (I have only one game — 21) but once I stopped by a dice table to witness the last roll in a tournament...read more |
![]() |