Featured Articles Archive - Page 271

Despite deal, lottery not coming to Nevada any time soon

LAS VEGAS -- Let’s halt one rumor before it gains traction.Scientific Games Corporation’s $1.5 billion acquisition of slot machine manufacturer WMS Industries Incorporated doesn’t mean a statewide lottery is headed to Nevada.New York-based Scientific Games provides lottery systems and equipment to U.S...read more

PokerStars chief executive agrees to $50 million forfeiture

The chief executive of online gaming giant PokerStars agreed to forfeit $50 million to federal prosecutors to rid his himself of a two-year-old complaint filed by the U.S. government.In a settlement agreement this week with the Department of Justice, the money being paid by PokerStars CEO Mark Scheinberg is based on allegations contained in the April 15, 2011, complaint filed by federal prosecutors against PokerStars as part of the government’s “Black Friday” crackdown on illegal Internet gaming operations.“The agreement is not in response to any action that had been brought against Mark and contains no admission of wrongdoing, culpability or guilt on his behalf,” PokerStars spokesman Eric Hollreiser said in an emailed statement.Last July, PokerStars accepted a $731 million forfeiture to the federal government to end the company’s legal battle with prosecutors.Three senior officers of PokerStars were charged in April 2011 with bank fraud, money laundering and running an illegal Internet gambling enterprise.The Justice Department absolved the company of any wrongdoing in accepting Internet wagers from American customers...read more

Nevadan at work: Ultimate Gaming exec has international background

LAS VEGAS -- On an early Tuesday afternoon in June, Ultimate Gaming Chief Executive Officer Tobin Prior took out his smartphone and checked up-to-the-minute operating statistics for Ultimate Poker.Sixty-five tables were in play, offering stakes from a few pennies to games with a $100 big blind...read more

Confidence in MGM Resorts future climbing

LAS VEGAS -- Clearly, MGM Resorts International’s planned $2.5 billion development on Macau’s Cotai Strip has Wall Street excited.Lately, analysts are giving the company credit for its fundamentals on the Strip.Even CityCenter.J.P. Morgan gaming analyst Joe Greff recently conducted investor meetings with MGM Resorts representatives, including Chief Financial Officer Dan D’Arrigo...read more

Matt Glantz: Poker's East Coast advocate

When you're in your 40s, you're generally not an elder statesman in your industry. But in a poker world dominated by a generation of Internet players in their 20s and early 30s, that's exactly what Matt Glantz is.Glantz discovered poker when he was working on the stock exchange and was invited to an after-hours poker game in the office...read more

Can you make a few bucks always betting on the 12 at craps?

Question: My grandfather, who's 92 and lives alone, goes to the casinos by bus every weekday. He loves craps and has a "system." He buys $31 in dollar chips and bets them one at a time on the 12. As soon as he wins, he quits. He says it's nearly impossible not to hit the 12 in 31 rolls and that he "almost always" wins a few bucks...read more

Pinnacle Entertainment lands $3 billion in financing for buyout

LAS VEGAS -- Pinnacle Entertainment, Inc. secured almost $3 billion in financing needed to complete its $2.8 buyout of rival regional gaming operator Ameristar Casinos, Inc.In a filing late Wednesday with the U.S. Securities and Exchange Commission, Las Vegas-based Pinnacle said more than a dozen investment banks and institutions have committed the financing for the buyout, which would double the company’s size.Pinnacle said the financing is expected to include a $1.94 billion term loan and a revolving credit amendment of $925 million...read more

NASCAR race to be named Boyd Gaming 300

LAS VEGAS -- Boyd Gaming Corporation, the primary sponsor of the annual NASCAR Nationwide Series race in Las Vegas, will now be reflected in the name.The Las Vegas Motor Speedway announced Thursday the race will be named the Boyd Gaming 300 beginning in 2014...read more

Deal Me In: Card down!

Dear Mark: I have a question regarding Robert's Rules of Poker. A player was playing a Texas Hold'em, 3-6 limit game. After going all in, he picked up his cards and one fell on the floor. I was the floor person and was called to the table. The dealer asked what the ruling is, and my response was, per Robert's Rules, the player must play the card...read more

Sweet delight: New York-New York to house giant candy brands

LAS VEGAS -- The Strip’s New York-New York Hotel & Casino, home to a faux Statue of Liberty and a scaled-down version of the Brooklyn Bridge, will soon house an 18-foot-tall replica of a Reese’s Peanut Butter Cup and other oversized candy brands.Hershey’s released details Tuesday of the planned Hershey’s Chocolate World that will occupy 13,000 square feet inside New York-New York.The project is part of a $100 million retail, dining and entertainment district being developed by MGM Resorts International along the Strip and between the company’s New York-New York and Monte Carlo resorts.The two-story, interactive all-things-Hershey candy attraction will be the company’s second-largest Chocolate World...read more