Featured Articles Archive - Page 290

New leadership hopes to revitalize Revel in Atlantic City

ATLANTIC CITY, New Jersey -- The opening of the $2.4 billion Revel Casino Resort on the northern end of the Boardwalk in April 2012 was one of the most anticipated events in the market since 2003, when the Borgata was unveiled.Revel, with 1,898 hotel rooms, a 130,000-square-foot casino, 14 restaurants from award-winning chefs, indoor and outdoor pools and gardens, a 32,000-square-foot spa, nightclubs, theaters, retail and a smoke-free environment, was viewed as a market game changer.The state awarded the resort a tax incentive of $261 million and tax rebates over a 20-year period.Atlantic City insiders hoped the glimmering 47-story hotel-casino would revive the community by attracting new customers to the Boardwalk and bringing back players who migrated to new casinos in other states...read more

Renovation of Golden Nugget Atlantic City spurs widespread praise

ATLANTIC CITY, New Jersey -- Landry’s Inc. paid $38 million two years ago to acquire the rundown, money-losing Trump Marina, and analysts immediately predicted the gaming market’s demise. A few years earlier Trump Marina had been valued as high as $315 million.The bargain-basement price cemented concern that Atlantic City, where citywide annual gaming revenues fell 41 percent over the past six years, was worse off than many believed.That’s no longer prevailing wisdom.Houston-based Landry’s Gaming, Inc., which owns the Golden Nugget casinos in Las Vegas, Laughlin and Biloxi, Miss., spent $150 million to transform the 740-room hotel-casino...read more

Battered Atlantic City seeks to reinvent itself as destination resort

ATLANTIC CITY, New Jersey -- The Boardwalk can’t catch a break.For the past two decades, Atlantic City’s casino industry has been under siege from gaming competition in neighboring states.The Southern New Jersey seaside resort, where saltwater taffy was created in the late 1800s, which thumbed its nose at Prohibition in the 1920s and was the inspiration for the board game Monopoly, once owned the monopoly for casinos in the East.But starting in the mid-1990s, Pennsylvania, Delaware, Maryland, Ohio, West Virginia and New York legalized gaming...read more

Derek Stevens integral to downtown Las Vegas revival

LAS VEGAS -- If Tony Hsieh is the savior of downtown Las Vegas, then Derek Stevens is at least the savior of Fremont Street.Not to take anything away from Hsieh. The Zappos CEO has a vision. Through the privately funded $350 million Downtown Project, Hsieh seeks to revitalize Las Vegas’ core community.Stevens, 45, a Michigan native, had his own vision...read more

Philadelphia's current operators appear unfazed over prospects of new competition

PHILADELPHIA, Pennsylvania -- If this city’s current casino operators are worried about the prospects of a big new competitor in the market, they aren’t saying.Pennsylvania gaming regulators by the end of the year should decide which of six proposals will be awarded the state’s final gaming license, for the Philadelphia area...read more

What are the chances of royal flushes in various games?

Question: Video poker and at least two table games have jackpots for royal flushes. What are the odds against pulling such a hand?Answer: At the tables, jackpots are paid for royal flushes in Caribbean Stud and Let It Ride. In both cases, players get five cards with no discards or draws...read more

Deal Me In: Did I really say that?

Dear Mark: I recently heard you on a radio show where you stated that your No. 1 gambling tip was "don't gamble." I took it as lighthearted advice, but really, is that your number No. 1 tip when it comes to gambling? Doug D.From time to time, talk radio stations will call and ask if can I spare a few minutes and yap about gambling...read more

Sandoval: Deals with other states on Web poker possible

LAS VEGAS -- Gov. Brian Sandoval said Thursday he has held preliminary talks with other state governors on partnering with Nevada on Internet poker.Sandoval didn’t name the states but gaming sources said Texas could be a target.Sandoval, a Republican, supported Texas Gov...read more

London casino accuses Phil Ivey of cheating at baccarat

LONDON -- (FROM STAFF AND WIRE REPORTS) -- Casino giant Genting Group is accusing poker champion Phil Ivey of amassing millions of dollars in winnings by cheating at a version of baccarat.Court papers filed in Britain’s High Court by the Malaysia-based casino operator say that Ivey and an accomplice successfully used a scam to rack up winnings of roughly 7.8 million pounds ($11.9 million) last summer.The case has rocked the world of professional poker by pitting one of its most charismatic young stars against a major resort and casino operator...read more

Dubai World official says it would be willing to sell shares in MGM Resorts

LAS VEGAS -- One of the largest shareholders in MGM Resorts International said Tuesday it would be willing to sell its stake in the hotel-casino operator for the right price.In an interview with Dow Jones News Service, a representative of Dubai World, the investment arm for the Persian Gulf emirate, said it rejected an offer for its 5.3 percent ownership as late as last year.However, Sheikh Ahmed bin Saeed al Maktoum, the chairman of Dubai’s Supreme Fiscal Committee, told Dow Jones the emirate remains open to selling its ownership stake in the company that controls 10 Strip resorts, including Bellagio, MGM Grand Las Vegas and The Mirage...read more