Featured Articles Archive - Page 209

Memories still adrift, but Showboat name is gone

The opening of the Showboat Atlantic City 27 years ago carried the hoopla of a Las Vegas celebration.Legendary entertainer Bob Hope broke a champagne bottle at building’s base to christen the resort, which was designed to resemble a cruise ship.Jazz trumpeter Al Hirt performed in the Mardi Gras-themed lounge on opening night.Showboat officials were joined by Atlantic City leaders and New Jersey’s governor in welcoming the state’s newest hotel-casino to the northern end of the Boardwalk.On Sunday, the Showboat closed with much less commotion.The name, synonymous with the casinos in various gaming markets since 1954, has vanished.Current Showboat owner Caesars Entertainment Corporation shut down the property as part of an effort to shrink Atlantic City’s oversaturated casino industry...read more

Macau gaming revenue tumbles for third straight month

Macau gaming revenue took a nose dive for the third consecutive month in August, sending fears on Wall Street that the declines in the world’s largest gaming market could continue into 2015.Despite the 6.1 drop in August — the largest decline in 2014 — the Macau gaming market is up 8.1 percent for the year’s first eight months following 2013’s record $45.2 billion in gaming revenue.The last time Macau saw three straight monthly gaming revenue declines was five years ago...read more

Delano Las Vegas: Where South Beach meets Mojave Desert

LAS VEGAS -- The Delano Las Vegas is best described as South Beach meets the Mojave Desert.MGM Resorts International completed the summer-long $80 million renovation of The Hotel, an 1,100-room nongaming property on the south Strip attached to Mandalay Bay Resort & Casino.The remake resulted in redesigned entry and lobby areas with new restaurants and public spaces...read more

Fresh start for PokerStars may revitalize N.J. gambling

The online gaming community believes PokerStars’ planned entrance into New Jersey’s Internet wagering market in October is the fuel needed to kick-start the state’s stagnant gambling activity into overdrive.The tainted European betting giant — which was bought this summer in a staggering $4.9 billion transaction by Amaya Gaming Group, Inc...read more

Deal Me In: Luck or skill?

Dear Mark: Enjoy your column a lot, even though I don't regularly gamble. I am writing with a related question. My lady friend and I have been playing gin rummy for nearly a year. Games are to 200 points, and the statistics so far after 93 games are:Wins 47-46Points 16,391-16,379This strikes me as extremely close (e.g...read more

Nevada gaming revenue up slightly in July

Hey, it wasn’t a decline.Nevada gaming revenue increased less than 1 percent in July, ending fears the market might be off after a June in which the state’s casino industry reported its largest monthly spike of the year.Casinos took in $931.8 million during July, which equated to a 0.65 percent increase compared to July 2013.On the Strip, casinos collected $536.2 million in gaming revenue, an increase of 4.8 percent from a year ago.The figures were released Thursday by the Gaming Control Board.July’s totals could be viewed as a letdown following June’s 14.3 percent statewide increase, which included a 22.5 percent gaming revenue increase on the Strip.Still, July was the Strip’s fifth consecutive monthly increase.“While the comparison was relatively easy, the result squashed some fears that summer gross gaming revenue could fall,” Macquarie Securities gaming analyst Chad Beynon told investors.Beynon said he expects positive gaming growth on the Strip through the remainder of the 2014 third quarter.However, he cautioned that 2013 increases of 20 percent in August and 15 percent in September “could present challenges.”BACCARAT UP AGAINBaccarat play continued to drive Strip gaming results.Casinos collected $133.5 million in baccarat revenue, an increase of 16 percent over July 2013...read more

Top-10 casino workers to appreciate on Labor Day

With the Labor Day weekend upon us in the U.S., I thought it would be nice to honor the casino workers who make trips to Las Vegas, Foxwoods, Atlantic City and all of our other casinos special.These people work hard to make our trips to the casinos -- and the hotels many of them are attached to -- an enjoyable experience...read more

Cobalt Data Centers designated as registered hosting center

LAS VEGAS -- Las Vegas-based Cobalt Data Centers has been designated by state gaming regulators as the registered hosting center for the state’s casino industry.The approval by the Nevada Gaming Commission and Control Board allows casinos to store and secure the technology and data off-site at Cobalt’s data center...read more

Bally Technologies revenue up for quarter, fiscal year

LAS VEGAS -- Slot machine manufacturer Bally Technologies, Inc. increased its overall revenue in the fourth quarter and fiscal year, much of which was attributed to the company’s purchase of a rival gaming equipment provider last year.Bally, which announced last month it was being acquired by lottery giant Scientific Games Corporation for $5.1 billion, said Wednesday its profits in both the quarter that ended June 30 and the fiscal year fell slightly compared with its 2013 totals.Las Vegas-based Bally said its net income was $59.6 million for the quarter, or 31 cents per share...read more

Activist investors see real estate as key to Pinnacle, Boyd

LAS VEGAS -- Activist investors believe the real estate underneath casinos owned by Pinnacle Entertainment, Inc. and Boyd Gaming Corporation is key to unlocking hidden value within the Las Vegas-based regional gaming operators.Two New York-based hedge funds want Pinnacle and Boyd to spin off their casinos into real estate investment trusts, referred to as REITs.Company officials aren’t sold on the idea.Or, they’re not tipping their hands.By law, REITs don’t pay federal income taxes...read more