Featured Articles Archive - Page 239

Poster to appeal rejection of suitability to Nevada Gaming Commission

LAS VEGAS -- Former Golden Nugget owner Tim Poster, whose request for a preliminary finding of suitability from the Nevada State Gaming Control Board Gaming Commission was rejected two weeks ago, is appealing the recommendation to the Nevada Gaming Commission on Thursday.Poster, 45, is hoping a finding of suitability — one step below a full-fledged gaming license — will allow him to resume his position as chief operating officer of Wynn Las Vegas.According to an opinion by the Nevada Attorney General’s office, Poster will need to gain approval from a simple majority of the the commissioners in order to reverse the control board’s 3-0 vote, which rejected his application on Dec...read more

MGM plans to refinance $500 million in debt

LAS VEGAS -- MGM Resorts International said Monday it was refinancing $500 million of the company’s debt which is coming due in February.The casino operator proposed issuing new debt due in March 2020 and would use the proceeds “for general corporate purposes,” which could include repaying some of the outstanding debt that matures in February.In a statement, MGM Resorts said the debt would be guaranteed by “substantially all of the company’s wholly owned domestic subsidiaries.”MGM Resorts had a little more than $13 billion in long-term debt as of Sept...read more

Wynn Resorts, Station Casinos to join American Gaming Association

The Washington, D.C.-based American Gaming Association (AGA) announced Tuesday it would add three new members, including Wynn Resorts, Ltd. and Station Casinos, Inc.Racetrack and casino operator Churchill Downs Incorporated also will join the organization, which represents the commercial gaming industry on Capitol Hill...read more

Caesars Entertainment, Starwood Hotels link customer loyalty programs

LAS VEGAS -- Caesars Entertainment Corporation and Starwood Hotels & Resorts Worldwide Inc. announced a partnership Tuesday linking the two chains’ customer loyalty programs.The partnership between Caesars’ Total Rewards and Starwood’s Preferred Guest begins Jan...read more

Casinos hunger for Walking Dead game

LAS VEGAS -- Zombies soon will be chasing Pat Sajak and Vanna White, Dorothy and the Oompa Loompas across casino floors.Officials from Aristocrat Technologies officials said a slot machine based on the AMC cable television series “The Walking Dead” is the company’s most successful new game ever — and that is before the first wager is even placed.The slot machine contains videos and images of characters from the Emmy Award-winning drama, which follows a group of human survivors and their struggles in rural Georgia after a worldwide zombie apocalypse.Aristocrat, which is based in Australia but has an American headquarters in Las Vegas, unveiled the game at the Global Gaming Expo in September...read more

Remakes of properties, work on Resorts World expected to enliven Las Vegas Strip in 2014

LAS VEGAS -- The biggest gaming story of 2014 might be a 2016 or a 2017 event.Malaysia-based Genting Group is expected to begin construction sometime in 2014 on the $2 billion-to-$7 billion Resorts World Las Vegas, returning construction activity to the 87-acre Echelon site that has sat dormant for almost five years.It will take at least two to three years to complete the 3,500-room Resorts World, which would become the Strip’s first new megaresort opening since the 2010 unveiling of The Cosmopolitan of Las Vegas.It’s unclear, however, when work might begin.Since the company’s over-the-top project announcement last March — which included appearances by Gov...read more

Top-10 quotes from the House subcommittee hearing on online gambling

Someday, we may look back on last week's hearing on Internet gambling in the House Subcommittee on Commerce, Manufacturing and Trade as the turning point in the online gambling debate. There have been dozens of hearings on the topic over the last decade, but never has the tone of a hearing been so supportive of regulation.There were some great moments in the hearing, with both witnesses and members of Congress getting a chance to score points for their side of the issue.You can watch the entire hearing below, or scroll through the video to find the top-10 quotes from the hearing.10...read more

Las Vegas Sands cancels $30 billion EuroVegas development in Spain

LAS VEGAS -- Las Vegas Sands Corp. on Friday canceled plans for a $30 billion resort and gaming complex in Madrid, saying the EuroVegas development was no longer in the best interests of the company’s shareholders.In a statement, Las Vegas Sands said it would focus on development opportunities in Asia...read more

Gaming advisement firm disputes Caesars' assertion of suitability

A New Jersey gaming advisement firm disputed a claim raised in a lawsuit by Caesars Entertainment Corporation that it told Massachusetts regulators the casino operator should be found suitable to operate a Boston-area resort complex.Spectrum Gaming Group LLC, which conducted a suitability background investigation of Caesars Entertainment for the Massachusetts Gaming Commission, said in a statement it did not make any recommendation in its draft report.In a federal lawsuit Caesars filed this week against Massachusetts Gaming Commission Chairman Stephen Crosby, company attorneys wrote that Karen Wells, director of the state’s Investigations and Enforcement Bureau, failed to disclose to the commission that Spectrum recommended Caesars be found suitable.The bureau, relying on Spectrum’s report, told the commission in October that investigators found four areas of concern about the company’s potential suitability...read more

Inside Gaming: SLS aims to avoid Cosmo's mistakes

LAS VEGAS -- Much has been speculated about the business model for SLS Las Vegas.Los Angeles-based SBE Entertainment Group, LLC is spending $415 million to transform the Rat Pack-era Sahara into a stylish, ultramodern hotel, bringing to the Strip amenities closely associated with Hollywood and Beverly Hills, Calif.When the remade hotel-casino opens in September, SLS Las Vegas will have nearly a dozen restaurants and nightlife brands, most owned by SBE...read more