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Featured Articles Archive - Page 266
Articles by Howard Stutz
![]() Louisiana regulators OK Pinnacle buyout of Ameristar19 July 2013 LAS VEGAS -- Louisiana gaming regulators approved Pinnacle Entertainment, Inc.’s $2.8 billion buyout of Ameristar Casinos, Inc., Thursday, paving the way for the eventual sale of a $580 million project in the western part of the state.The approval allows Ameristar to transfer its interest in the Lake Charles development to Las Vegas-based Pinnacle, which owns four casinos in Louisiana, including L’Auberge Lake Charles.In an agreement with the Federal Trade Commission, Pinnacle agreed to sell Ameristar’s Lake Charles project and Pinnacle’s Lumiere Place in St...read moreArticles by Howard Stutz
![]() Union tactics threaten Las Vegas nursing conference18 July 2013 LAS VEGAS -- Helene Neville is a nurse and fitness coach who survived cancer four times, runs races across the country, wrote two books, and dedicated her life to promoting “health care givers providing healthy care.”But the recent Las Vegas transplant found herself smack in the middle of the bitter, long-standing labor dispute between Station Casinos, Inc...read moreArticles by Howard Stutz
![]() Bally Technologies to acquire SHFL entertainment for $1.3 billion17 July 2013 All of a sudden, it’s mergermania in the gaming industry.A third major transaction in eight months was announced Tuesday when slot machine manufacturer Bally Technologies, Inc. said it will acquire gaming equipment provider SHFL Entertainment for $1.3 billion.Bally, one of the gaming industry’s largest slot machine developers, will pay SHFL stockholders $23.25 per share, a 24 percent premium over the company’s Monday closing price.The transaction requires approval from SHFL shareholders, gaming regulatory bodies in Nevada and other states, and the Federal Trade Commission...read moreArticles by Howard Stutz
![]() Massachusetts voters approve MGM Resorts casino plan17 July 2013 Voters in Springfield, Mass., approved a plan Tuesday by MGM Resorts International to build an $800 million hotel-casino complex in the community.Voter approval was required before Las Vegas-based MGM Resorts could apply to the state Gaming Commission for a single casino license in western Massachusetts.Springfield election officials said voter turnout was “steadier” than anticipated.In the final vote total, 57.6 percent of the voters favored the casino, while 42.4 percent opposed it...read moreBarton, PPA believe time is now for federal online poker legislation16 July 2013 Despite repeated failed attempts over the past several Congressional sessions, Rep. Joe Barton (R-Texas) and the Poker Players Alliance (PPA) believe that now is the time to regulate Internet poker at the federal level.Like he did in the last Congress, Barton has introduced the Internet Poker Freedom Act, which would create a regulatory framework for the online game...read moreTop-10 WSOP Main Event story lines16 July 2013 LAS VEGAS -- Now that the World Series of Poker Main Event final table is set and play has been suspended until November, it's time to look back at this year's tournament. Here are my top 10 story lines from this year's Main Event.10. Hard workAll of the attention at the Main Event is focused on the players -- and rightly so...read moreJ.C. Tran the chip leader at the final table of the WSOP Main Event16 July 2013 LAS VEGAS -- The World Series of Poker Main Event final table is set and there are some familiar faces that will be returning to the Rio All-Suite Hotel & Casino in November to play for $8,359,531. J.C. Tran is the chip leader with 38 million...read moreArticles by Howard Stutz
![]() Pinnacle plans to raise $800 million to complete Ameristar buyout16 July 2013 LAS VEGAS -- Pinnacle Entertainment, Inc. announced plans Monday to raise up to $800 million in new debt to help the company complete its buyout of regional gaming rival Ameristar Casinos, Inc.In separate announcements, Las Vegas-based Pinnacle said it was seeking commitments for a $1.6 billion term loan and a $1 billion revolving credit agreement, along with the sale of $800 million in bonds.The new debt would be used to pay off $450 million in debt due in 2017 and also to help finance the $2.8 billion acquisition the company hopes to finalize this fall.The debt offering is scheduled to be completed prior to the sale closing.“Pinnacle is moving forward with consummating its acquisition of Ameristar,” Union Gaming Group managing director Bill Lerner said.Deutsche Bank gaming analyst Andrew Zarnett said Pinnacle’s debt will be about $4 billion once the Ameristar purchase is closed...read moreArticles by Howard Stutz
![]() Report: Las Vegas Sands could delay EuroVegas16 July 2013 LAS VEGAS -- Las Vegas Sands Corp. could delay development of a planned $22 billion resort complex in Spain unless the government lifts a ban on smoking inside casinos, a wire service reported.However, in a statement to Spanish media last week, the company said reports that the proposed development was not progressing were “inaccurate.”According to United Press International, Las Vegas Sands Chairman Sheldon Adelson said construction on EuroVegas in Madrid will not start unless Spanish Prime Minister Mariano Rajoy amends laws that ban smoking in most public places...read moreArticles by Howard Stutz
![]() Parisi named as chairman of Affinity Gaming15 July 2013 Affinity Gaming, which went through a contentious proxy battle in May, announced Friday a representative of the company’s second largest shareholder would become the casino operator’s new chairman.Richard Parisi, a senior investment professional with Connecticut-based hedge fund Silver Point Capital, was named board chairman, replacing Don Kornstein.Parisi was elected to the board when the company increased the panel’s size from five to seven...read more |
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