Featured Articles Archive - Page 180

Caesars sells 20 percent interest in Ohio casinos

LAS VEGAS -- Caesars Entertainment Corporation on Thursday sold its 20 percent interest in three Ohio casinos to partner Detroit-based Rock Gaming, LLC.A sale price was not disclosed. The deal was announced by Rock Gaming’s subsidiary, Rock Ohio Ventures...read more

Nevada regulators approve GTECH buyout of IGT

LAS VEGAS -- Nevada gaming regulators on Thursday approved the equipment manufacturing sector’s largest-ever merger.After more than three hours of special meetings in Las Vegas, the Nevada State Gaming Control Board and Nevada Gaming Commission signed off on Italy-based lottery giant GTECH Holdings $6.4 billion buyout of Nevada-based slot machine manufacturer International Game Technology.The combined companies will be branded as IGT, and the holding company will be named International Game Technology PLC...read more

A revived locals market could push Station Casinos to IPO

LAS VEGAS -- There is no debate that Station Casinos, Inc. had a strong finish to 2014, giving analysts hope that recovery in the Las Vegas locals gaming market is underway.Now, the investment community may want a piece of the action.During the Station Casinos’ fourth-quarter earnings conference call a week ago, an analyst asked if the privately held casino company would be publicly traded once again.Station Casinos Chief Financial Officer Marc Falcone did his best to quiet the speculation...read more

Caesars denies another request from second-level bond holder

LAS VEGAS -- For the second time in two weeks, the casino operator rejected a demand from an unsecured second level bondholder for payment of the obligations.In a filing with the Securities and Exchange Commission Monday, Caesars said BOKF N.A...read more

Scientific Games says patent lawsuit against subsidiary dismissed

LAS VEGAS -- Scientific Games Corporation said Monday a federal judge dismissed a more than five-year-old patent infringement lawsuit against a subsidiary the company acquired in its $5.1 billion purchase of Bally Technologies, Inc. last year.The lawsuit, filed in 2009 by Table Max Gaming against SHFL entertainment, was dismissed with prejudice by the United States District Court in Nevada...read more

Inside Gaming: How would legalizing U.S. sports betting change Nevada's industry?

LAS VEGAS -- Legalizing sports betting in the U.S. would be bad news for local street-corner bookies and the Internet’s unregulated off-shore gambling market.But could the idea hurt the Nevada sports betting industry?If legal sports books pop up in California Indian casinos, for example, would the Strip’s high-end gambling facilities dry up? This question doesn’t need an answer today...read more

Once down on its luck, Las Vegas's North Strip is coming back

LAS VEGAS -- For a decade, north Strip casino operators anticipated a redevelopment of the area that would include new megaresorts and entertainment complexes rivaling projects underway on the boulevard’s southern end.The recession laid waste to those plans.Several hulking, uncompleted buildings — including the Fontainebleau Las Vegas and Echelon — continue to symbolize the end of that era, but after years of inactivity, there are signs the north Strip is springing back to life.About $8 billion to $10 billion of proposed development is on the table for the area defined as everything north of Convention Center Drive to Sahara Avenue...read more

MGM Resorts plans job fair, hopes to add more than 500 workers in Las Vegas

LAS VEGAS -- MGM Resorts International will hold a job fair Wednesday at the Mandalay Bay Resort & Casino Events Center to hire more than 500 permanent positions at 12 of the company’s Strip-area resorts.The job fair will take place from 10 a.m...read more

In historic vote, LVCVA approves purchase of Riviera

LAS VEGAS -- By all accounts, it was a historic vote.In just more than an hour on Friday, the Las Vegas Convention and Visitors Authority board of directors agreed to purchase a Strip hotel that has been operating for nearly 60 years and at the same time, jump-start a project some say is bigger than the state’s Tesla Motors deal in Northern Nevada.Board members unanimously agreed to spend up to $191 million, $182.5 million for the 23-story hotel and its surrounding amenities and $8.5 million to cover related acquisition costs.Approval of the transaction occurred simultaneously with authorization of a lease-back agreement that will keep operation of the hotel-casino in the hands of Paragon Gaming, a Las Vegas company that manages the property for Connecticut-based Starwood Capital Group.Paragon will be responsible for closing the property, which marks its 60th anniversary on April 20, and turning it over to the authority for demolition...read more

Deal Me In: Player questions if he is a freak of nature

Dear Mark: I am a freak of nature. Of the 50 times that I have played slots, maybe twice I left with $20 to $40. All the other times I have lost big. One time, I went with a lucky elderly teacher friend of mine and she won $300. I lost $50...read more