Featured Articles Archive - Page 209

Deal Me In: Different win amounts trigger traceable paperwork

Dear Mark: I saw your column about getting a tax form whenever you win $1,200 or more. Does that also apply to sports bets? I am thinking it is easy to win more than $1,200 on a sports bet, or a 6-team NFL parlay. It would seem wise to make sure that your bet doesn't pay more than $1,200...read more

Gaming Commission grants license to start-up gaming equipment company

Gamblit Gaming, a start-up gaming equipment company that plans to combine traditional slot machines with entertainment-style video games, was granted a license Thursday in Las Vegas by the Nevada Gaming Commission.The Glendale, Calif.-based company is a subsidiary of Hard 8 Games, which is owned by American Capital, a business development company headquartered in Bethesda, Md., and traded publicly on the Nasdaq.Gamblit CEO Eric Meyerhofer told the Gaming Commission that the company planned to display its initial slot machines at the Global Gaming Expo in Las Vegas, which runs from Sept...read more

European online chief: Shuffle up and deal PokerStars in

The chief executive of European online gaming giant 888 Holdings said Wednesday that rival PokerStars should be allowed to operate in the United States now that the company is being sold for $4.9 billion to a Canadian Internet wagering firm.The comments by 888 CEO Brian Mattingley differ dramatically from online industry rivals and various state lawmakers, who have moved to ban PokerStars from entering legal U.S...read more

Gaming Commission shuffle: Bernhard resigning, Alamo new chairman, Mulroy on board

LAS VEGAS -- Nevada Gaming Commission and Control Board Chairman Peter Bernhard, who has overseen the casino industry’s regulatory panel for nearly 13 years, was to resign following Wednesday’s meeting in Las Vegas.Las Vegas physician Tony Alamo Jr., a member of the commission since 2008, was named chairman by Gov...read more

MGM, Prince George's County sign community benefits agreement

MGM Resorts International and Prince George’s County signed a community benefits agreement on Tuesday that ensures 50 percent of the jobs slated for the $925 million MGM National Harbor will go to local residents.The agreement also has provisions for a specific percentage contracts to be awarded to...read more

Caesars extends offer to purchase $791.8 million in long-term debt

Caesars Entertainment Corp., extended by more than a week an offer for investors to purchase $791.8 million in the company’s long-term debt.The casino operator had previously extended the offer to end Monday. The offer now expires June 27.The bond purchases are part of the company’s effort to restr...read more

Inside Gaming: PokerStars deal made with eye on California

California is known for having high-priced beachfront real estate. But even $4.9 billion might not be enough of a payment to let a Canadian gaming company settle into the neighborhood.Montreal-based Amaya Gaming Group, Inc.’s agreement last week to acquire the parent company of online gaming giant PokerStars — the largest Internet gaming purchase — is all about California.Some Golden State residents, however, want to stop the moving vans at the Canadian border.Despite its best efforts — including forfeiting $731 million to federal prosecutors in 2012 — PokerStars hasn’t been able to buy into the budding U.S...read more

SLS preparing countdown to Aug. 23 grand opening

The countdown has begun.Operators of the SLS Las Vegas Hotel Casino said the $415 million hotel-casino will open at midnight Aug. 23. To herald the opening date, a countdown will begin Tuesday morning on the north Strip resort’s new marquee.The 1,600-room property — a renovation of the Rat Pack-era...read more

PokerStars acquisition not a game-changer -- yet

The bwin.party merger was big. This is bigger. On Thursday, Amaya Gaming purchased the parent company of PokerStars.com and Full Tilt Poker for $4.9 billion.According to the financials released in the statement announcing this deal, the newly combined company had pro forma combined revenue of $1.3 billion in 2013...read more

Slot machine maker IGT says in statement company is exploring 'strategic alternatives'

Slot machine giant International Game Technology all but confirmed the company is up for sale Monday, saying in a statement it was “currently” exploring “a broad range of strategic alternatives.”In a one-paragraph comment, IGT said its board of directors and senior management are “currently engaged...read more