Featured Articles Archive - Page 302

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

What's the difference between ties and pushes in casino gambling?

Question: What's the difference between a "tie" and a "push" in casino gambling.Answer: Ties refer to equal gambling values or scores. Pushes are "decisions" in which bets neither win nor lose. They sometimes coincide, but not always. And conditions not involving decisions aren't considered pushes, even though the bets don't win or lose.Here are a few common illustrations.In ordinary blackjack, when players and dealers have equal non-bust numerical totals, or both have natural blackjacks, hands tie and bets push...read more

Segregating poker players based on skill goes a step too far

There are a lot of online poker grinders who are none too pleased with Party Poker right now.There is evidence that the online poker room is segregating ring game players based on skill, allowing players at lower skill levels to see more tables in the client's lobby, while hiding tables with a higher percentage of new and/or losing players from those who have a long record of winning.The company responded to accusations with a post on the 2+2 message boards yesterday that read:"We are continually looking for ways to balance our poker room ecology...read more

Christie signs New Jersey online gambling bill

New Jersey Governor Chris Christie signed into a law Tuesday a bill that makes the Garden State the third state in the U.S. to license and regulate the online gambling. Christie's stamp of approval comes just 19 days after he conditionally vetoed similar legislation."This was a critical decision, and one that I did not make lightly," Christie said in a statement...read more

Leader of dissident IGT shareholder group offers to meet with management

LAS VEGAS -- The leader of a dissident group of IGT - International Game Technology shareholders has offered to meet with the slot machine manufacturer's chairman in an effort to resolve the company's heated proxy fight before next week's annual stockholders meeting.In a letter to IGT Chairman Phil Satre that was sent Monday, Ader Investment Management CEO Jason Ader said the IGT shareholders he has met with in recent weeks "indicated their respective belief that a reconstitution of the IGT board would be best accomplished through a negotiated settlement."Ader and former IGT Chairman Charles Mathewson lead a group seeking to gain election to three seats on IGT's eight-person board of directors and have been soliciting proxy support from shareholders.Ader has meetings scheduled with IGT shareholder representatives this week in New York and other parts of the country...read more