Featured Articles Archive - Page 196

Possible Boyd spinoff into REIT excites investors

It’s unclear if Boyd Gaming Corporation will ultimately spin off all or a portion of the company’s casinos into a real estate investment trust.But the idea certainly piqued the interest of the investment community.Shares of Boyd jumped almost 5 percent in value on the New York Stock Exchange last Friday, the day after the company said it spent $3 million on advisers to evaluate the idea of a REIT.Analysts, however, were skeptical.Several factors work against Boyd...read more

Macau casino revenue dips record 23.2 percent in October

Macau’s casino market experienced a 23.2 percent decline in gaming revenue during October, the largest single-month drop since American-owned casinos began operating in the Chinese market in 2004.Total casino revenue was $3.5 billion in October — Macau’s fifth straight monthly decline, the Macau Gaming Inspection and Coordination Bureau said Tuesday.Analysts now expect Macau’s downward trend to continue into 2015 as high rollers skirt the market because of a government crackdown on corruption.Through October, Macau gaming revenue is still up 2.3 percent over 2013...read more

Gaming group CEO tapped for U.S. Chamber panel

American Gaming Association (AGA) CEO Geoff Freeman was one of six business executives named Tuesday by the U.S. Chamber of Commerce to its Association Committee of 100.The committee, often called the C100, meets to network, build partnerships and discuss current issues.Freeman joins the CEOs of businesses representing financial, utilities, insurance, alternative energy and auto dealers on the C100.“These new members reflect our continued dedication to naming diverse, high-profile leaders to serve on this important committee,” said Rob Engstrom, senior vice president of political affairs and federation relations at the U.S...read more

Bay State voters choose to preserve fledgling casino industry

Massachusetts voters saved the state’s fledgling casino industry Tuesday by overwhelming rejecting a ballot referendum that would have tossed a three-year-old gaming law.The question was soundly defeated with almost 60 percent of electorate voting no...read more

Top-10 worst types of people to have at your poker table

If you've been watching the 2014 World Series of Poker coverage on ESPN, you've seen a wide variety of personalities at the poker tables. Whether it was Curtis Rystadt's verbal battle with Kyle Keranen, or Bryan Devonshire's laid-back style (he told Leif Force that he was happy to play with him because he's the only person left in the tournament who's a dirtier hippie than he was), ESPN has really done a great job giving players a glimpse into who the players at this year's tournament really are.Most of the players I've been following have been a pleasure to watch...read more

Vote to reverse Bay State casinos appears losing — or will it?

By all accounts, a referendum to undo Massachusetts’ casino law should get crushed in Tuesday’s election and lose by 15 to 20 percentage points.That’s what the most recent polls say.Then again, this is Massachusetts.Nothing has been simple when its comes to the state’s nascent casino business.Caesars Entertainment Corp...read more

Scientific Games says Bally Technologies deal is on track

LAS VEGAS -- Scientific Games Corporation executives have assured the investment community the company’s $5.1 billion buyout of Bally Technologies, Inc. is on track to close by the end of the year.During the lottery giant’s third-quarter earnings call Thursday, CEO Gavin Isaacs said the company has the ability to fund the purchase...read more

Deal Me In: Is Free Bet Blackjack really a freebie?

Dear Mark: We have a casino a little north of Toronto, Ontario that has added one blackjack table with some variations. If you get a hard 9, 10 or 11, the House will double down for you. Also, if you get a split opportunity, the house will double down for you...read more

Bally Technologies sees dip in quarterly earnings

LAS VEGAS -- Slot machine manufacturer Bally Technologies, Inc. saw first-quarter earnings dip slightly while revenue increased 29 percent.The Las Vegas-based company said its net income for the quarter than ended Sept. 30 was $62.4 million, compared with $57 million in the same quarter a year ago...read more

Boyd Gaming evaluating REIT spin-off

LAS VEGAS -- Boyd Gaming Corporation is evaluating the formation of a real estate investment trust, which could spin off all or a portion of the Las Vegas-based company’s casino holdings into a separate entity.Boyd Gaming CEO Keith Smith said Thursday the company is working with advisors to understand the feasibility of the process...read more