Featured Articles Archive - Page 189

Caesars pursues $1 billion casino in Philippines

Caesars Entertainment Corp. is angling to build a $1 billion hotel-casino development in the Philippines in an effort to break into the Asian gaming market.The Las Vegas-based company operates more than 50 resorts across the U.S., including nine on or near the Strip...read more

Casinos in Japan: Not dead yet

To paraphrase Monty Python, gaming expansion in Japan is apparently not dead yet.That’s good news to some of the world’s biggest casino operators.They view the Land of the Rising Sun as the Holy Grail.Reuters news service reported this week that a Japanese casino expansion bill wouldn’t be voted on by the time country’s legislature (or Diet) adjourns Nov...read more

Trust sides with group seeking change at Full House Resorts

LAS VEGAS -- A trust set up by the late CEO of casino operator Full House Resorts, Inc. is siding with a group of shareholders looking to remake the board of the Las Vegas-based company.In a letter to the company’s board, the co-trustees of the Allen E...read more

Top-10 World Series prop bets

The Major League Baseball playoffs have been absolutely amazing so far this season, from the Wild Card round right through the League Championship Series. The World Series gets underway Tuesday night, with the San Francisco Giants facing the Kansas City Royals...read more

The 'for sale' comes down at Sands Bethlehem

A year ago, Las Vegas Sands Corp. was looking to sell its Pennsylvania hotel-casino complex, housed on the historical site of the long-closed Bethlehem Steel Mill.Now, the company is prepared to invest $800 million in the development, now one of the top two gaming revenue producing properties among that state’s 12 casinos.In an interview with The Morning Call of Lehigh Valley earlier this month, new Sands Bethlehem President Mark Juliano outlined a two-year expansion plan that will increase the convention center and update the property’s restaurants.Juliano said Sands Casino Resort Bethlehem also would build a Bass Pro Shops to increase visitation to the property in eastern Pennsylvania...read more

Nevadan at work: 'Strategic' move by PR pro leads to his own business

LAS VEGAS -- Reggie Burton called it his “if not now, then when?” moment.In the middle of 2009, MGM Mirage Hospitality, LLC was downsizing its communications staff as the recession tightened its grip on the company, the gaming industry and the community.Burton, 47, who oversaw corporate and community affairs, decided to start his own boutique public relations and consulting business.“Our department was going through some changes, such as reducing staff size,” Burton said...read more

Caesars will talk with bank creditors to address debt

LAS VEGAS -- Caesars Entertainment Corporation said Friday it would begin talks with bank creditors to rework part of its $24.2 billion debt.The move follows a similar announcement last month in which the Las Vegas-based coasino operator said it was in discussions with its senior bond holders in efforts to restructure the largest portions of what has become the highest debt in the gaming industry.The announcement was viewed positively by stockholders, who are hopeful a settlement at the negotiating table between Caesars and its creditors would keep the company out of bankruptcy court.Shares of Caesars, traded on Nasdaq, closed at $11.71 Friday, up $1.32, or 12.7 percent.One analyst, however, believes Caesars — which operates more than 50 casinos in the United States, including nine on or near the Strip — still will have to go through a bankruptcy court-monitored reorganization to fix the company’s balance sheet.Fitch Ratings Service gaming analyst Alex Bumazhny said earlier this year Caesars’ debt was “unsustainable.”In a phone interview from New York on Friday, Bumazhny said “it was likely” that the company would have to resolve its issues through bankruptcy.He said “there were too many stakeholders” involved for the talks to be successful.“The forces are not seeing eye-to-eye,” Bumazhny said...read more

Deal Me In: Never shortchange yourself with this betting opportunity

Dear Mark: Is there an appropriate time to “double for less” at blackjack? I do it occasionally, but I am beginning to feel that it isn’t worth the hassle that I get from fellow players and sometimes even the dealer. Doug D.When players double for less, they are doubling down for under their original wager...read more

MGM Resorts sells Gold Strike to JETT Gaming

LAS VEGAS -- MGM Resorts International said Thursday it agreed to sell the Gold Strike Hotel & Gambling Hall in Jean to JETT Gaming, a company owned by members of the Herbst family.A sales price was not disclosed.The transaction, which needs approval by Nevada gaming regulators, is the second sale of a small casino by MGM Resorts this year...read more

Report: U.S. authories seeking to extradite Bodog founder Calvin Ayre

Bodog founder Calvin Ayre, who for years allowed U.S. gamblers to make online bets on sports, casino games and poker despite the fact that U.S. authorities maintained its actions were illegal, has been targeted for extradition by U.S. authorities, according to a recent story by the The Calgary Herald.Last week, the U.S...read more