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Featured Articles Archive - Page 180
Articles by Howard Stutz
![]() County delays vote on changes to slot-machine regulations3 December 2014 LAS VEGAS -- Tavern owners won’t know until today if their locations comply with changes proposed for a Clark County regulation governing the operation of slot machines.The requirements are directed at a business model operated by the Dotty’s tavern chain.Following more than three hours of public testimony Tuesday, Clark County commissioners put off a vote on the regulation for 24 hours so that various amendments introduced just before the hearing could be incorporated into a final version.Tavern industry representatives complained they didn’t have enough time to review proposed amendments and called the process confusing.One of the owners of Jackpot Joanie’s — a tavern modeled after Dotty’s — told commissioners that if the ordinance passes, he would be forced to “seek legal relief.”At issue is the Dotty’s business model — which has come under fire by state gaming regulators, rival tavern operators and local elected officials — over the past few years...read moreArticles by Howard Stutz
![]() Macau facing first-ever annual gaming revenue dip2 December 2014 Macau is poised for its first-ever yearly gaming revenue decline following the market’s 19.6 percent nose dive in November.The Macau casino industry recorded its sixth straight gaming revenue drop during the month, the longest downward stretch in more than five years.Analysts are predicting another double-digit drop in December, sending gaming revenue down as much as 2 percent for all of 2014...read moreArticles by Howard Stutz
![]() Full House proxy fight ends, Lee named CEO2 December 2014 LAS VEGAS -- Veteran gaming executive Dan Lee was named CEO of regional casino operator Full House Resorts, Inc. Monday, ending a two-month proxy fight for control of the Las Vegas-based company.Lee, 58, who led an investor group that controlled 6.2 percent of Full House shares, wanted to increase the size of the board and direction of the company that operates three casinos and manages a fourth.Full House said CEO and Chairman Andre Hilliou will step down and the board will almost double to nine members.“When I got involved, I understood that shareholders were looking for a change in direction,” Lee said Monday.Lee’s group received Securities and Exchange Commission permission in October to approach other company stockholders about a special meeting to vote on a board restructuring.Lee, who spent seven years as CEO of Pinnacle Entertainment, Inc...read moreTop-10 weather bets1 December 2014 The weather plays an important role in our lives. Think about what you’re wearing right now -- odds are it was influenced by the weather. Winter coats, sweaters and sweatshirts come out during cold weather. It’s shorts and sandals during warm weather...read moreArticles by Howard Stutz
![]() Macau gaming revenue declines for sixth straight month1 December 2014 Macau’s casino industry suffered its sixth straight monthly gaming revenue decline during November with analysts predicting another double digit drop this month.The Macau Gaming Inspection and Coordination Bureau said Monday casinos in the Chinese gambling market collected $3.04 billion in gaming revenue during the month, down 19.6 percent from a year ago.In October, Macau’s casino market experienced a 23.2 percent gaming revenue decline, the largest single-month drop since American-owned casinos began operating in the Chinese enclave in 2004.November marked the third straight double-digit gaming revenue decline in Macau.Macau produced a record $45.2 billion in gaming revenue in 2013...read moreArticles by Howard Stutz
![]() Analyst: Philadelphia doesn't need another casino1 December 2014 Pennsylvania gaming regulators this month drove another nail into the coffin containing Atlantic City’s gaming market.At the same time, they unwittingly damaged their own state’s casino industry.Stadium Casino, LLP, a joint venture of The Cordish Company of Baltimore and Greenwood Gaming, was awarded the rights to build the $425 million Live! Casino & Hotel in South Philadelphia.Analysts, however, don’t believe a fifth Philadelphia-area casino can thrive in what’s becoming an over-saturated market.As for Atlantic City, which has seen four casinos cease operations this year and a fifth scheduled to close in December, more competition in Philadelphia means fewer customers on the Boardwalk...read moreArticles by Howard Stutz
![]() Regional casino markets show renewed life1 December 2014 There is life in the regional casino markets.Several states posted their best gaming revenue months in more than a year during October, fueling a boost in the stock prices of regional gaming operators.As a whole, share prices of regional casino companies — including Boyd Gaming Corporation, Pinnacle Entertainment, Inc., Penn National Gaming, Inc., and Isle of Capri Casinos, Inc...read moreDeal Me In: Husband penalized for canny play28 November 2014 Dear Mark: I play penny slots, and my husband plays $5 blackjack. If that is unavailable he will play on a $1 slot machine. We each use our own comp cards. What is interesting is that we do not equal out on comp points. I always get more points than my husband does...read moreArticles by Howard Stutz
![]() Nevada gaming revenue dips, but positive note seen in slots26 November 2014 LAS VEGAS -- Despite Nevada and the Strip’s third straight monthly gaming revenue decline — fueled by a more than 35 percent drop in baccarat totals — analysts found a bright spot in what was otherwise a dismal October.After all, it is the start of the Thanksgiving holiday.Statewide, casinos saw revenue fall almost 4.3 percent to $913.6 million during the month...read moreArticles by Howard Stutz
![]() Internet gambling bill not yet a priority26 November 2014 A congressional hearing on a bill to restore the Interstate Wire Act has lost steam in the current lame-duck session.Pro-Internet gaming folks, however, aren’t taking the silence for granted.The Justice Department ruled in December 2011 that the Wire Act applies only to sports wagering, paving the way for legal online gaming in the U.S.Online wagering proponents worry the “Restoration of the Wire Act” legislation — introduced in March and supported by rabid Internet gaming foe Sheldon Adelson — will be added to an otherwise innocuous bill just before the session adjourns.“The fight is not over,” Poker Players Alliance Executive Director John Pappas warned in a statement last week.The measure most likely won’t be taken up until Congress convenes in January.That view has online gambling proponents preparing for an all-out assault by forces backed by Adelson, chairman of Las Vegas Sands Corp...read more |
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