Featured Articles Archive - Page 273

Romance off: Caesars sells Macau land holdings for $438 million

Caesars Entertainment Inc. on Friday ended the company’s nearly six-year flirtation with Macau.The casino operator sold its 175-acre golf course near the Chinese gaming enclave’s Cotai Strip region for $438 million to an Asian developer.The deal, which was disclosed within the company’s quarterly report filing with the U.S...read more

Company owned in part by Agassi agrees to $15,000 gaming fine

LAS VEGAS -- A company owned in part by retired tennis star Andre Agassi has agreed to pay a $15,000 fine for violating state gaming regulations.The Gaming Control Board filed a three-count complaint on Wednesday against Agassi and Adam Corrigan...read more

Power restored at Flamingo after hotel construction causes outage

LAS VEGAS -- Power at portions of the Flamingo Las Vegas were out most of Friday in connection with construction of the neighboring $180 million Gansevoort Hotel.Electric power was interrupted to one of the six hotel towers at the Flamingo but restored just before 3 p.m.Caesars Entertainment Inc....read more

Rant by Adelson surprises Murren

LAS VEGAS -- Having navigated MGM Resorts International through almost four years of turbulent economic waters, Jim Murren has grown used to hearing negative comments from haters and detractors.What surprised Murren, however, were some recent vitriolic remarks directed at his company from a competing corporate office down the street.Las Vegas Sands Corp...read more

Q&A with Stacy Stagg, assistant general manager of Sunset Station

LAS VEGAS -- You can go home again.At least if you’re Stacy Stagg.A nearly 20-year employee of Station Casinos, Inc., Stagg helped open the Sunset Station Hotel and Casino in June 1997 as manager of the coffee shop.After gaining experience in other management roles with the company, including as assistant general manager at the Santa Fe Station and Red Rock Resort, Stagg returned to Sunset Station this year.“Generally, when you walk into a new role, you might be unfamiliar with the property,” said Stagg, the assistant general manager of Sunset Station...read more

What's the best strategy for doubling-down when it's offered at video poker?

Question: Some video poker machines offer "double down." If you win a hand, you can go for double-or-nothing and keep going as long as you keep winning. Are there rules about whether or not, when, and how many times to take this bet?Answer: You have a 50-50 chance, one out of two, to win even money on double down at video poker...read more

Deal Me In: Reader questions where lucky machine went

Dear Mark: I recently had the good fortune of hitting a sizable jackpot on a slot machine. It took over an hour to be paid, plus, they opened the machine, not once, but twice. Here is the funny part. I returned the following month, and the machine was gone...read more

Station Casinos sees double-digit growth in profits

Station Casinos, Inc. grew profits 11 percent in the second quarter but didn’t disclose what percentage of the company’s overall figures came from online poker.The casino operator, which has 16 large and small gaming properties in the Las Vegas Valley, said Wednesday that the quarter marked the company’s ninth consecutive three-month period of increased cash flow.Station Casinos-owned Fertitta Interactive, which includes online poker operator Ultimate Gaming, had $1.6 million in operating costs associated with the start-up of Ultimate Poker on April 30.The company’s adjusted cash flow for the quarter that ended June 30, including the loss from Fertitta Interactive, was $96.1 million, a 4.7 percent increase over the same quarter a year ago.Station Casinos’ net income was $7.3 million, compared with $6.5 million in the second quarter of 2012.Total revenues were $316.6 million, an increase of 1.4 percent.Station Casinos is not publicly traded but has publicly owned debt.Ultimate Gaming’s Ultimate Poker is the only regulated pay-to-play online gambling provider in Nevada.During the quarter, Ultimate Gaming announced a deal with the Trump Taj Mahal in Atlantic City to provide online gaming services.“Ultimate Gaming’s entrance into the New Jersey market is our next step in expanding our presence in the online gaming industry,” said Chief Financial Officer Marc Falcone.During the quarter, Ultimate Poker completed its field trial with Nevada gaming regulators on July 25...read more

MGM Resorts narrows second-quarter net loss, grows revenues

LAS VEGAS -- MGM Resorts International narrowed its second-quarter net loss but improved revenues companywide, which included a 3.4 percent hike from customer spending on the Strip.The results gave Wall Street renewed hope of a potential casino market turnaround.The casino operator, which controls 10 Strip resorts, said it lost $92.9 million, or 19 cents a share, in the quarter that ended June 30...read more

Caesars taps new regional president to oversee three Strip properties

LAS VEGAS -- Caesars Entertainment Inc. shuffled its Las Vegas and Atlantic City resort management executives Tuesday, moving a regional president from the Strip to the East Coast.The company, which has 10 properties on or near the Strip, said Eileen Moore, currently president of the company’s Mid-North Regional Division, will come to Las Vegas to oversee three casinos.Moore will be a regional president and general manager of the Flamingo Las Vegas, The Quad Resort and Casino and the $180 million Gansevoort development after receiving required regulatory approvals, said company spokesman Gary Thompson.Prior to her role in Illinois and Southern Indiana, Moore was assistant general manager at Harrah’s New Orleans...read more