Featured Articles Archive - Page 299

Nevada gaming revenues fall 12.4 percent in January

LAS VEGAS -- Gaming revenues in January fell 12.4 percent statewide and 18.7 percent on the Strip based on a challenging comparison to figures produced by Nevada's resort industry a year ago.The Nevada State Gaming Control Board Gaming Commission said Friday that Nevada casinos collected $909.2 million from customers during January, down from $1.038 billion a year ago...read more

Why do some casinos make you wait until after a shuffle to enter a blackjack game?

Question: At some blackjack tables, players aren't allowed to enter the game except during the first round after the cards are shuffled. Why do the casinos do this?Answer: Casinos with "no mid-shoe entry" policies normally have this rule at some or all of their highest-limit tables...read more

MGM Resorts ends agreement to manage hotel-casino in Vietnam

LAS VEGAS -- MGM Resorts International terminated its agreement to manage a hotel-casino development in Vietnam that is partially owned by Pinnacle Entertainment, Inc.In a filing Thursday with the U.S. Securities and Exchange Commission, Pinnacle disclosed that MGM Resorts exercised its right to end the agreement because the project did not achieve certain pre-opening milestones before March 1.In an e-mailed statement, MGM Resorts spokesman Gordon Absher said the company would work with the project's developers to "ensure a smooth transition" of the resort's management.Asian Coast Development Ltd., which is 26 percent owned by Pinnacle, is the developer of the Ho Tram Strip integrated resort complex in Vietnam...read more

European online gamer recommended for Nevada interactive gaming license

The Nevada State Gaming Control Board Gaming Commission spent almost two hours Wednesday delving into the background of European online gaming operator 888 Holdings Plc, which is seeking an interactive Nevada gaming license.After recommending that Gibraltar-based 888 be approved for the state's 20th interactive license, the three control board members spent all of five minutes discussing Treasure Island's request to hold the state's 21st interactive license."I don't have any questions, unless you want me to make some up," Control Board Chairman A.G...read more

Affinity Gaming disputes lawsuit filed by shareholder

LAS VEGAS -- Affinity Gaming said Wednesday a lawsuit filed by its largest shareholder lacked merit.In a statement, the Las Vegas-based casino company said it had not received the complaint, but viewed a regulatory filing about the allegations raised by Illinois-based private equity firm Z Capital ...read more

Affinity Gaming sued by largest shareholder

LAS VEGAS -- The largest shareholder in Affinity Gaming has sued the casino operator's board of directors, saying changes in the company's governance have breached fiduciary responsibility.The lawsuit by Illinois-based private equity firm Z Capital Partners was filed Tuesday in Clark County District Court...read more

PokerStars says Caesars offered to sell Rio, World Series of Poker

Caesars Entertainment Corp. reportedly offered to sell the off-Strip Rio All-Suite Hotel & Casino and the World Series of Poker to PokerStars, a spokesman for the owner of the online gaming business claimed in an email Tuesday.The statement by Eric Hollreiser, head of corporate communications for The Rational Group, came a day after attorneys for the American Gaming Association wrote in a legal brief that PokerStars had been a "criminal enterprise for many years."The Washington, D.C.-based trade organization wants New Jersey gaming regulators to reject PokerStars' application to operate the failing Atlantic Club Casino in Atlantic City.Caesars representatives declined to comment on any "assertions" made by PokerStars.Hollreiser, who is based at The Rational Group's corporate offices in the Isle of Man, said PokerStars "declined the offer because we had no plans to acquire another casino in the near term."Hollreiser first raised the potential Rio-World Series of Poker deal with Forbes.com...read more

IGT stockholders re-elect seven board members, choose one backed by dissidents

LAS VEGAS -- IGT - International Game Technology stockholders re-elected seven of the slot machine giant's current board members but also selected one nominee proposed by a dissident group of shareholders.At the company's annual meeting in Las Vegas on Tuesday, IGT said shareholders decided to replace board member David Roberson with Daniel Silvers, the president of Ader Investment Management of New York.Ader Management led a two-month proxy fight in an attempt to earn three seats on IGT's board...read more

Top-10 poker tournament results for the good guys

Last week, I wrote a column about the worst tournament poker results that I could think of. This week's column will be much more fun to write, as I examine the opposite side of the coin.Nice guys don't always finish last. Sometimes, they win five, six or seven figures...read more

Genting buys Echelon site on Strip for $350 million, will build $2 billion Resorts World Las Vegas

LAS VEGAS -- Malaysia-based Genting Group today will announce acquisition of the Echelon site on the Strip and outline plans to build a $2 billion hotel-casino complex on the 87-acre develop­ment halted by the onset of the recession almost five years ago.Genting, which operates casinos in Singapore and New York City, will pay Boyd Gaming Corporation $350 million for Echelon...read more