Featured Articles Archive - Page 258

State inquiry into Cantor Gaming creeps along slowly

LAS VEGAS -- A state investigation of sports book operator Cantor Gaming, launched after a company official was indicted for his alleged involvement in an illegal bookmaking and money laundering operation, has gone radio silent.That doesn’t mean the matter has been swept away — not by any stretch.Sources confirmed last week the Gaming Control Board’s inquiry into Cantor is moving forward, albeit at a slow pace.Agents are trying to determine to what extent Mike Colbert, Cantor’s former sports book director, had with the betting operation, which was associated with offshore Internet wagering sites.Investigators also are trying to determine if any of the illegal bookmaking allegations can be linked to Cantor...read more

In blackjack, why can you only hit aces once after a split?

Question: After splitting a pair in blackjack, you can normally play each side like a regular hand. The exception occurs when you split aces. Then you can only hit once on each side. Why is this?Answer: The casino has an edge in blackjack because players must complete their hands before the dealer acts...read more

Deal Me In: Long, long odds for multiple royals

Dear Mark: Last night, 8/9/13, I was playing the quarter progressive Double Double-Bonus Poker at Red Rock Casino, Resort & Spa here in Las Vegas. I held three cards and hit the royal for over $2k. On the very next hand, I was dealt two royal cards...read more

Poker Player Tweets of the Week: Brunson, Seidel appear to be bored

Poker players are a strange breed. It's not because they're rich, either. There are plenty of "grinders" who play poker professionally, but do so by collecting slim margins at mid-limit tables, week after week, day after day, hour by hour...read more

Four state bodies OK Penn National Gaming's plan to split

Four state regulatory bodies have signed off on Penn National Gaming, Inc.’s plans to separate the company into two publicly traded entities, including a real estate investment trust.The company, which owns M Resort, announced Thursday the Iowa Racing and Gaming Commission, Louisiana Gaming Control Board, Mississippi Gaming Commission and the Pennsylvania State Racing Commission approved the steps necessary to implement the planned separation.The Nevada Gaming Commission approved the plans last month.The company is still awaiting approval of the U.S...read more

Record sales help Bally Technologies flirt with $1 billion in revenues

LAS VEGAS -- Record sales in the company’s systems division, coupled with expansion into new gaming markets, helped slot machine manufacturer Bally Technologies, Inc. reach overall revenues of just under $1 billion in the company’s recently completed fiscal year.Bally, which announced plans last month to acquire rival equipment manufacturer SHFL Entertainment for $1.3 billion, said Thursday it grew both profits and revenues during the fourth quarter that ended June 30.“We made enormous progress in many different ways, including continued growth in wide-area progressive units, record gaming operations revenue, (and) significant success in new markets like Canada, Illinois, and South Africa,” Bally Chief Executive Officer Ramesh Srinivasan.Bally grew net income 32 percent to $64.6 million in the quarter while earnings per share increased to 95 cents per share, compared with 61 cents per share a year ago.Analysts polled by Thomson Financial Network expected Bally to report earnings per share of 94 cents.Revenues in the fourth quarter increased 8 percent to $264.4 million, which included a 32 percent increase in revenues from the company’s gaming management systems division.For the full fiscal year, Bally’s earnings per share was $3.45, based on income of $235.5 million, a 41 percent increase...read more

Pinnacle Entertainment completes $2.8 billion buyout of Ameristar Casinos

LAS VEGAS -- One down, two to go.Pinnacle Entertainment, Inc.’s completion of its $2.8 billion buyout of regional casino rival Ameristar Casinos, Inc. on Wednesday is the first of three gaming industry mergers headed toward resolution.The Las Vegas-based casino operators announced the transaction in December, taking eight months to complete the buyout, which needed approval from nine state gaming regulatory bodies, Ameristar stockholders and the Federal Trade Commission.Pinnacle’s acquisition of Ameristar was the first gaming industry merger announced in several years...read more

FTC approves Pinnacle Entertainment's $2.8 billion purchase of Ameristar

LAS VEGAS -- The Federal Trade Commission formally approved plans by Pinnacle Entertainment, Inc. to sell a St. Louis casino and Lake Charles, La., development project, allowing the Las Vegas-based regional gaming operator to move forward with its $2.8 billion acquisition of Ameristar Casinos, Inc.Pinnacle hopes to close the purchase by the end of the month...read more

Parent of Stratosphere, Arizona Charlie's reverses net loss

LAS VEGAS -- The company that owns the Stratosphere Casino Hotel and Tower and Arizona Charlie’s said Tuesday it reversed a net loss in the second quarter.American Casino & Entertainment Properties, LLC reported net income of roughly $100,000 in the quarter than ended June 30, compared with a net l...read more

Affinity Gaming posts profitable second-quarter results

LAS VEGAS -- Casino operator Affinity Gaming said Tuesday it reversed a second quarter net loss, due in part to a full quarter of results from the Las Vegas-based company’s three casinos in Colorado.Affinity, which operates 12 casinos in Nevada, Colorado, Iowa and Missouri, said its net income in the quarter that ended June 30 was $1.1 million, compared with a net loss of $1.8 million in the same quarter a year ago.The company’s total revenues declined 2.7 percent to $100.3 million.“Continued economic weakness affected our top line results, however, through our cost control initiatives, we were able to increase our property adjusted (cash flow) from the prior-year quarter,” Affinity Chief Executive Officer David Ross said in a statement.The company has publicly owned debt.Affinity operates six casinos in Nevada, including the off-Strip Silver Sevens and the three Primm resorts...read more