Featured Articles Archive - Page 176

Corporate concerns cited in not renominating Elaine Wynn to board

LAS VEGAS -- Wynn Resorts, Limited said Monday it could be forced to repurchase a portion of its corporate debt under unfavorable terms if now-ousted board member Elaine Wynn prevails in her lawsuit over a shareholders agreement with her ex-husband, company Chairman and CEO Steve Wynn.In the filing of its definitive proxy materials with the Securities and Exchange Commission, Wynn Resorts said “a change in control provision” could be triggered if Elaine Wynn was allowed to “sell, gift or otherwise dispose” of some or all of her more than 9.5 million shares in Wynn Resorts.“There can be no assurance that the company will be able to refinance the senior notes on terms as favorable as currently exist,” Wynn Resorts said...read more

Top-10 tips for betting the 2015 NCAA Tournament

The NCAA men's basketball tournament is the single biggest sports wagering event in the United States. According to the American Gaming Association (AGA), about $240 million will be wagered in Nevada alone on this year's tournament. By comparison, more than $185 million was wagered on Kentucky Derby Day...read more

Inside Gaming: Chinese government almost seems to be purposely torpedoing Macau

LAS VEGAS -- If we didn’t know better, one might believe the Chinese government is trying to sabotage Macau’s already sinking gaming market.Nine straight months of casino revenue declines, including a record 49 percent drop in February, are primarily because of a government-imposed crackdown on corruption...read more

Nevadan at work: Scion of Las Vegas gaming family paid his dues

LAS VEGAS -- He has the same name as the company’s CEO, but that doesn’t mean Blake Sartini II started at the top for slot machine route operator and tavern giant Golden Gaming, Inc.His first job was tending bar at the company’s Sierra Gold tavern on Stephanie Street and Warm Springs Road...read more

Wynn Resorts executive Kim Sinatra will deliver 2015 Faiss Lecture

LAS VEGAS -- Wynn Resorts, Limited General Counsel Kim Sinatra will be the 2015 speaker for the annual Robert D. Faiss Lecture on Gaming Law and Policy at the UNLV William S. Boyd School of Law.The event will take place Thursday from 4-5:30 p.m...read more

Strip resorts president West to retire in April

LAS VEGAS -- Luxor Hotel and Casino and Excalibur Hotel and Casino President Renée West, the first woman ever named president of a Strip resort, will retire in April, MGM Resorts International said Friday.West will be replaced by two people...read more

Sands taps executive from Bahamas to oversee Strip resorts

LAS VEGAS -- Las Vegas Sands Corp. reached into the Bahamas for the person to oversee the company’s Strip resorts.The company recently named George Markantonis as president and chief operation officer of The Venetian Resort-Hotel-Casino, The Palazzo Resort Hotel Casino and Sands Expo & Convention Center.Markantonis most recently served as the president and managing director of Brookfield Hospitality Properties, which operates the Atlantis at Paradise Island Resort and Casino in Nassau, Bahamas.He has been with the resort since 2005 when the development was operated by Kerzner International...read more

Hedge fund says bid for Pinnacle real estate too low

LAS VEGAS -- The hedge fund that initially sought to move regional casino operator Pinnacle Entertainment, Inc. into a real estate investment trust said it was encouraged by this week’s acquisition offer from rival Penn National Gaming, Inc.’s spinoff, but believes the $4.1 billion price was too low.Meanwhile, Pinnacle announced Friday that it added to its board of directors a long-time gaming company executive who is now lead trustee for a publicly traded REIT.New York-based Orange Capital, which owns 5.9 percent of Las Vegas-based Pinnacle, said this week’s offer from Gaming and Leisure Properties Inc...read more

Deal Me In: Gimmick bets are part of the game

Dear Mark: With “Fortune” Pai Gow Poker, how bad are the odds on the bonus fortune bet? Ray C.Pai Gow Poker is a hybrid of Chinese dominos, “Pai Gow” and American seven-card poker. Played with a standard 52-card deck plus a joker, it differs from the typical seven-card game in that you play against a banker, not against other players at the table.The Pai Gow house edge playing house rules against a player who does not bank (acts as the banker for other players to play against) is 2.84 percent...read more

Game developer sues IGT, alleges violation of licensing agreement

Game developer High 5 Games said slot machine giant IGT - International Game Technology violated numerous conditions of a licensing agreement and failed to pay the company royalties from gambling features used on 81 different game titles.In a lawsuit filed Tuesday in U.S...read more