Featured Articles Archive - Page 303

N.Y. investment firm questions IGT's decision-making

A New York-based investment firm Thursday became IGT - International Game Technology's first outside shareholder to publicly question the slot machine manufacturer's management decision-making since a proxy fight surfaced last month over the company's direction.In an open letter to IGT Chairman Phil Satre, Orange Capital LLC managing partner Daniel Lewis suggested the company conduct a "Dutch auction" tender for 25 percent of IGT's outstanding shares and "reconstitute" the company's board to include former IGT Chairman Charles Mathewson and two others."IGT's valuation is near its all-time low on the basis of net income and cash flow," Lewis said in the letter...read more

Why can you write down past results at any casino game except blackjack?

Question: Casinos let you write down the results of past plays at any table games except blackjack. In fact, they even have signs showing previous winners at roulette and some baccarat tables. Why can you do this in certain games, but not blackjack?Answer: In games like roulette and craps, each round is independent of whatever happened previously...read more

Christie signals way forward to Internet gambling with conditional veto

New Jersey Governor Chris Christie issued a conditional veto to legislation that would regulate Internet Gambling in the state, sending a revised version of the bill back to the state's legislature for approval."I have concluded that now is the time for our state to move forward, again leading the way for the nation, by becoming one of the first states to permit Internet gaming," Christie wrote in his conditional veto...read more

Mesquite, clobbered by recession, works to regain footing

MESQUITE -- Don't blame Rita Perez for the economic challenges that stalled the boomtownlike growth of this Nevada border city's casino industry over the past few years.The St. George, Utah, resident travels the 40 miles between her home and Mesquite several times a week to play slot machines and enjoy the casinos' nongaming amenities.She has made the trek for 20 years to escape "the boredom" of St...read more

Top-10 moments in my poker "career"

The other day, while describing how I first started playing poker to a new acquaintance, I realized that I've now been playing the game on a fairly regular basis for more than 10 years. That's longer than I've continually engaged in any other hobby other than running, and if I were to compare the number of hours I've spent running over the last 10 years to the number of hours I've spent playing poker, I have to say I think my old high school and college track coaches would be a little disappointed.I started reflecting on all that time spent at the tables – most of it with good friends – and realized that I've had quite a few amazing moments in my poker "career." And here are the top-10.10...read more

Macau gaming revenue rises 7.3 percent, falls short of forecasts

So much for the much-anticipated double-digit increase.Macau casinos in January grew gaming revenues 7.3 percent, falling well short of Wall Street predictions that the Chinese gaming market would mirror December's single-month revenue record of $3.54 billion.Macau's Gaming Inspection and Coordination Bureau said Friday that casinos collected $3.36 billion in revenues from gamblers...read more

Gaming stock index rises in January

LAS VEGAS -- Mergers and acquisitions are good for the gaming industry.Two planned buyouts helped fuel average daily stock price increases for publicly traded casino operators and gaming equipment manufacturers during January.Pinnacle Entertainment, Inc...read more

MGM Resorts partners with Canadian real estate developer on potential Toronto casino

LAS VEGAS -- MGM Resorts International entered into a partnership with a Canadian real estate developer to bid on, build and operate a hotel-casino complex in downtown Toronto.In a statement, MGM Resorts Chairman Jim Murren said the 50/50 joint venture with The Cadillac Fairview Corporation Ltd...read more

Caesars diversity executive Tony Gladney to chair key committee for U.S. Hispanic Chamber

One of the gaming industry’s best-known diversity relations executives has been named chairman of a committee for the U.S. Hispanic Chamber of Commerce that links the organization with Fortune 1000 corporations.Tony Gladney, vice president of national diversity relations for Caesars Entertainment Inc., was named chairman the Washington, D.C.-based Hispanic Chamber’s Senior Executive Corporate Advisory Board.Gladney is a two-year member of the committee and has advised the organization on strategic partnerships, new initiatives and goal-setting."Tony is an important contributor to (the Hispanic Chamber) and brings a wealth of knowledge and experience in the executive realm to our council,” Hispanic Chamber CEO Javier Palomarez said in a statement...read more

IGT's plan for meeting curious

LAS VEGAS -- Slot machine manufacturing giant IGT - International Game Technology is trying to dissuade stockholders from attending the company's annual meeting next month in Las Vegas.There are at least two particular shareholders IGT management would like to keep on the outside looking in.How else would you explain IGT's plan for this year's event?The annual shareholder meeting will be held at 7:30 a.m...read more