Featured Articles Archive - Page 228

Inside Gaming: Beware gaming equipment investing

Save for a few small companies, Wall Street has thrown in the towel on slot machine manufacturers for 2014.Without new hotel-casino openings (other than The Cromwell and SLS Las Vegas) and a slot machine replacement market that analysts term “nonexistent,” the investment community has been advised to view the gaming equipment sector with caution.Janney Capital Markets gaming analyst Brian McGill came home from this month’s Southern Gaming Summit in Biloxi, Miss., with a sour opinion of the slot machine industry...read more

Dan Lee, after bicycle accident, resigns as Palms CEO

Gaming executive Daniel Lee, who took over as CEO of The Palms Casino Resort in October, has resigned, a spokesman for the off-Strip property said Friday.Lee, a former chairman and CEO of Pinnacle Entertainment and chief financial officer of Mirage Resorts, “resigned to pursue other business opportunities,” Palms spokesman Alex Acuna said in an email.In an text message, Lee said he had “a bicycle accident last weekend, which caused me to have a lot of thinking.”Lee said he resigned Monday.“I’m OK, but I’m looking forward to spending the summer with my family at our place in Wyoming,” Lee said.Palms President Todd Greenberg, along with the rest of the executive team, “will assume his responsibilities and continue to lead the luxury resort casino,” Acuna said.Lee, 56, was credited with expanding regional casino operator Pinnacle into several markets, including St...read more

Top-10 World Series of Poker prop bets

For several years, I have written a top-10 World Series of Poker prop bets column, scouring through online sportsbooks to find the best bets they had to offer. Unfortunately this year, for some reason, there aren't very many bets available...read more

Medical pot sales by gaming licensees? Nevada commission just says no

Here’s the latest word for Nevada gaming licensees who want to plunge into the state’s new medical marijuana marketplace: The answer is still no.The Nevada Gaming Commission voted Thursday to uphold the state Gaming Control Board’s edict earlier this month that keeps anyone with a gaming license from investing in or owning a medical marijuana dispensary or growing the plant for use in the budding industry.In a May 6 industry notice, the Control Board said license holders should stay away from state-sanctioned medical pot because the federal government still views distribution, possession and sale of the drug as a crime...read more

Deal Me In: The choice between losing or losing really fast

Dear Mark: I like to play the keno machines and would like to know about the payouts. Does the machine pay out after so much money goes into the machine, or is it based on picking random numbers? I have noticed that sometimes I will play a string of numbers, and when I get off those numbers, they will start lighting up...read more

Gaming commissioners give OK to Genting; construction to begin this summer

LAS VEGAS -- The Nevada Gaming Commission and Control Board found Malaysia-based Genting Malaysia Berhad suitable to do business in the state, and company officials said Thursday construction would begin this summer on the $4 billion Resorts World Las Vegas.The development is located on the 87-acre Strip site that once was home to the Stardust and where the unfinished Echelon stands.Gaming Commissioner Tony Alamo Jr...read more

Las Vegas Sands president to retire; Adelson remains as CEO

Las Vegas Sands Corp. will have new president by the end of the year, but company Chairman Sheldon Adelson squashed media reports that he would be giving up the CEO duties any time soon.In a statement released late Wednesday night, the 80-year-old billionaire invoked author Mark Twain, saying “the rumors of my demise have been greatly exaggerated.”However, Las Vegas Sands President Michael Leven said he’ll retire at the end of 2014 when his current contract expires.A committee of the company’s board will conduct a search for a new president...read more

Pinnacle drops New York casino bid

Regional casino operator Pinnacle Entertainment withdrew from consideration for one of four gaming licenses in New York, state gaming officials announced late Tuesday.Las Vegas-based Pinnacle had been tied to a potential casino project near Albany...read more

Wynn promotes Cootey to CFO slot

LAS VEGAS -- Wynn Resorts, Limited named its head of corporate finance as the company’s chief financial officer.In a filing with Securities and Exchange Commission, the company said Stephen Cootey would replace Matt Maddox, who will continue to serve as president of Wynn Resorts.Cootey, a former Wa...read more

For revitalizing cities it's the gaming - and a lot more

BALTIMORE, Maryland -- Chad Barnhill carefully maneuvered visitors through an active construction site Monday that is quickly becoming the $442 million The Horseshoe Casino Baltimore.He paused in front of floor-to-ceiling windows on the second floor.In clear view was M&T Bank Stadium, home of the National Football League’s Baltimore Ravens, seemingly as close as a couple of Joe Flacco passes...read more