Featured Articles Archive - Page 279

Pinnacle plans to raise $800 million to complete Ameristar buyout

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 more

Report: Las Vegas Sands could delay EuroVegas

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 more

Parisi named as chairman of Affinity Gaming

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

Expansion, cash, focused on the other Strip - in Cotai

Casino developers — including MGM Resorts International, Las Vegas Sands Corp. and Wynn Resorts, Limited — will spend some $22 billion on massive new resorts and gambling complexes in Macau over the next four years.On the Strip, four developments are under construction...read more

Bold move has Caesars on top

The Empire put a hit on the Mafia and buried the farm.Two years after Caesars Entertainment Corp. perplexed Wall Street by acquiring social gaming operation Playtika, the casino giant has moved past rival Zynga Inc. to the top of the business model.Social casino games are free to play on the Internet, through Facebook and other platforms...read more

Dollar, dollar bill y'all - Main Event down to 27 players

LAS VEGAS -- It's not often that the second to last day of a tournament (at least for the summer) can make one week's worth of poker a mere prologue. But that's exactly what happened Sunday at the World Series of Poker Main Event.He take his time, he counts it out, I weighs it up, that's real money -- Kanye West's "Mercy"West wasn't talking about poker...read more

What are the rules for drawing and standing at baccarat?

Question: I know that in baccarat and mini-baccarat, decisions to draw or stand are predetermined. But, what are the rules?Answer: Player and Banker each start with two cards, then stand or draw once. As you note, the rules for doing so are rigid...read more

Mixed emotions everywhere on Day 5 of WSOP Main Event

LAS VEGAS -- The base appeal of sports -- and competition in general -- is binary in nature. There are winners and losers. There's the thrill of victory and the agony of defeat. The often fine line between winning and losing -- whether it's a three pointer at the buzzer or an ace on the river -- provides compelling drama.Televised poker banks heavily on the binary nature of the game to provide entertainment value...read more

Straight cash, homey - WSOP Main Event hits the money

LAS VEGAS -- For 18 players, Friday was the worst day of the World Series of Poker Main Event. For 648 players, Friday was the best day of the Main Event.The Main Event, which began with 6,352 players, is only paying its top 648 players this year...read more

Ultimate Gaming online poker site passes regulator's test

Ultimate Gaming, which is currently operating Nevada’s only legal Internet poker website, said Thursday it has completed its state-mandated field trial.The company, majority owned by Station Casinos, launched Ultimate Poker on April 30 and then began a field trial to prove the website meets state r...read more