Featured Articles Archive - Page 243

Adelson faces steep odds in campaign to roll back Internet gambling

LAS VEGAS -- Earlier this summer, Sheldon Adelson told those nasty little Internet gaming punks to get off his lawn.Now, he thinks they egged his house.As payback, the chairman and CEO of Las Vegas Sands Corp. says he’ll put online gaming out of business forever in the United States.Adelson, 80, who is ranked 11th on the Forbes 400 with a net worth of $28.5 billion, is opening his wallet to fight what he once dubbed “a toxin all good people should resist.”He’s forming an advocacy group, the Coalition to Stop Internet Gambling...read more

Boyd exec readies for rollout of Web gambling in New Jersey

To Boyd Gaming Corporation Executive Vice President Bob Boughner, the Borgata in Atlantic City is handling this week’s launch of Internet gaming in New Jersey much as it would oversee the opening of a new restaurant.The expected revenue from New Jersey’s online wagering market, however, should far exceed any dinner tab.Boughner said Boyd Gaming is not taking anything for granted in conjunction with the much anticipated Internet gaming rollout...read more

Deal Me In: Can a $50 bill ruin your day?

Dear Mark: Do you know why $50 bills are unlucky in a casino? My husband will never accept them from a cashier, but can’t explain why except to say that they are jinxed. Have you ever heard of such a thing? Jackie H.The fifty-dollar bill ($50) is a denomination of United States currency that has the 18th U.S...read more

Poker Player Tweets of the Week: Sheldon Adelson is evil

In April, online poker launched in Nevada. Halloween marked the beginning of online gambling in Delaware. And on Tuesday, nine casino websites will go live in New Jersey. Americans want online gambling. But Las Vegas Sands CEO Sheldon Adelson, afraid of the business the iGaming industry could take from his land-based casinos, is staunchly staunchly against the movement...read more

Contract wins overwhelming approval of MGM Resorts International employees

LAS VEGAS -- Union employees at 10 Strip casinos operated by MGM Resorts International overwhelmingly approved a new five-year contract Wednesday that included company increases for health care costs.The contract is the first deal that Culinary Workers Local 226 and Bartenders Local 165 have reached with Las Vegas area hotel-casino operators since contracts covering some 40,000 workers expired on June 1...read more

Gaming regulators OK Bally Technologies' buyout of SHFL Entertainment

LAS VEGAS -- Nevada gaming regulators took a little more than an hour to approve Bally Technologies’ $1.3 billion buyout of gaming equipment rival SHFL entertainment Thursday during a special hearing.The transaction, in which Bally is paying SHFL shareholders $23.25 per share, is expected to create a manufacturer and technology company with seven different divisions and annual revenues of more than $1.3 billion.Stockholders approved the transaction Wednesday.Bally Technologies Chief Executive Officer Ramesh Srinivasan said the buyout was 11 times SHFL’s cash flow over the past 12 months.“It’s a complementary merger,” Srinivasan said...read more

Slot-machine jackpots rivaling multistate lotteries get gaming regulators' nod

LAS VEGAS -- Nevada could soon join with other states to offer slot machine jackpots rivaling the awards produced by multistate lotteries.The Nevada Gaming Commission unanimously approved regulation changes Thursday that allows slot machine manufacturers to increase their prize pools by linking slot machine jackpots across state lines.The changes were proposed by slot machine giants IGT - International Game Technology and Bally Technologies, Inc...read more

Federal panel raises deep concerns about gaming in Macau

A federal commission studying U.S. relations with China recommended closer examination of gaming in Macau, saying weak financial controls in the district pose “significant risk” of money laundering and terrorist financing.The report issued Wednesday by the U.S.-China Economic Security Review Commission stopped short of saying U.S...read more

Contract wins approval of MGM Resorts International employees

LAS VEGAS -- MGM Resorts International employees overwhelmingly approved a new five-year contract with the Culinary and Bartender unions in a vote Wednesday.In a joint statement between the company and the two unions, more than 97 percent of employees who participated in the vote supported the new contract, which covers some 21,000 workers at 10 Strip properties owned by MGM Resorts.The contract is the first deal that Culinary Workers Local 226 and Bartenders Local 165 have reached with Las Vegas hotel-casino operators since contracts covering some 40,000 workers expired on June 1.“MGM has taken a leadership position in the industry, forging a strong partnership for the future of both the company and the unions,” Culinary Secretary-Treasurer Geoconda Arguello-Kline said in a statement...read more

Scientific Games replaces CEO after completing $1.5 billion WMS purchase

Less than a month after buying the gaming industry’s third-largest slot machine manufacturer, lottery provider Scientific Games Corporation replaced its chief executive and named its largest shareholder as chairman.The moves Tuesday surprised some on Wall Street.Several analysts said A...read more