Featured Articles Archive - Page 224

Caesars files with SEC to sell 7 million shares of stock

LAS VEGAS -- Caesars Entertainment Corporation filed paperwork with the Securities and Exchange Commission on Thursday to sell an additional 7 million shares of stock.Based on Thursday’s closing price on Nasdaq, the company would raise almost $148 million.No date was given for the proposed sale...read more

Deal Me In: Reader catches discrepancy in blackjack basic strategy

Dear Mark: I noticed on your audio that you advised standing on nines versus a dealer’s two. However, your strategy card that was included with the audio shows splitting (SP) nines against a two. Please clarify. Also, is always hitting, and never splitting fours, the appropriate play? Rita C.I believe, Rita, you are referring to a 15-second segment on my Hooked on Winning audio where I gave some simplified rules if you were not in possession of a blackjack strategy card...read more

The whispers on Harrah's were wrong

For several months now rumors have been floating around Tunica on a possible sale of the FITZ CASINO and the sale of HARRAH’S. The rumor on Fitz turned out to be real when FULL HOUSE acquired it. But two days later, the whispers on Harrah’s were wrong…the CAESARS ENTERTAINMENT’S huge property is shutting down June 2.One has to surmise that Harrah’s had sought a buyer but in a declining market who wants 2,200 acres encompassing a large casino, three hotels, a golf course and a sporting clay range...read more

Sands board member becomes online gaming company stakeholder

LAS VEGAS -- New York-based investor Jason Ader, a Las Vegas Sands Corp. board member, has become the second-largest shareholder in European online gaming giant Bwin.party, acquiring a 6 percent stake in the London Stock Exchange-listed business in February.The investment could seemingly put Ader at odds with Las Vegas Sands Chairman Sheldon Adelson.The 80-year-old billionaire opposes Internet gaming on moral grounds...read more

IGT financial woes a drag on entire gaming equipment sector

LAS VEGAS -- Slot machine giant IGT - International Game Technology took a battering from investors Wednesday and analysts worried sour financial predictions announced 24 hours earlier might taint rival companies in the gaming equipment sector.IGT on Tuesday said it is reducing its worldwide workforce by 7 percent and trimmed earnings prospects, blaming a decline in gaming revenue in U.S...read more

Caesars to close money-losing casino in Tunica, Miss.

LAS VEGAS -- Caesars Entertainment Corporation said Wednesday it would close one of its three casinos in Tunica, Miss. on June 2, saying “persistent declines in business” made the market’s largest hotel-casino unprofitable.John Payne, president of Caesars Central Markets, said the decision to close the 1,360-room Harrah's Casino Tunica was “difficult but necessary.” The casino employs about 1,300 and operates 1,340 slot machines and 70 table games.The company called it another step in ongoing efforts to increase free cash flow and improve the balance sheet.Caesars will continue to operate two casinos in the Northern Mississippi market — the 510-room Horseshoe Casino Tunica and the 130-room Tunica Roadhouse.In a statement, Caesars Entertainment said it will attempt to find new jobs for as many employees as possible...read more

March 2014 Featured Game report

As I wrote at the beginning of the year, I've decided to "spice up" my Featured Game responsibilities for Casino City. I am now keeping track of my results for each week, and will provide monthly, quarterly and a final annual report at the end of the year.As noted in my introductory story, my plan is to bet $1 of play money per line per spin, or as close to it as possible, until triggering the bonus round...read more

Caesars plan to borrow $1.3 billion for asset shift hits opposition

LAS VEGAS -- Caesars Entertainment Corporation said Wednesday a group of the company’s “unidentified note holders” want to kill off Caesars Growth Partners, the casino operator’s growth-oriented affiliate.The company revealed the matter in a filing with the Securities and Exchange Commission in which it said Caesars Growth Partners is seeking $1.3 billion in loans to fund the purchase of four casinos announced this month.Caesars said it received a letter from a law firm representing holders of existing notes who want to rescind all the transactions that created Caesars Growth Partners last year...read more

Making a disused hotel roof a striking Las Vegas pool club

LAS VEGAS -- Nightclub operator Victor Drai considered the roof of the former Barbary Coast and Bill’s Gamblin’ Hall & Saloon untapped potential.Drai, 66, a Los Angeles-based nightlife mogul, operated Drai’s After Hours in the basement of the small Strip casino...read more

IGT expands use of Wheel of Fortune brand in gaming

LAS VEGAS -- Slot machine giant International Game Technology announced a new multiyear licensing agreement with Sony Pictures Monday that allows the Las Vegas-based company to use the “Wheel of Fortune” brand on its product lines through 2024.The deal covers traditional slot machines, online games, mobile devices and free-play social games.IGT said the contract also lets IGT place the “Jeopardy!” brand on slot games on IGT’s DoubleDown online casino...read more