Featured Articles Archive - Page 307

Jackie Gaughan, on his 92nd birthday, offers link to days of old Vegas

LAS VEGAS -- Alexandra Epstein gently held Jackie Gaughan's hand Wednesday and slowly walked the 92-year-old casino legend a short distance from the El Cortez Hotel & Casino's Parlour lounge to a seat in the downtown casino's poker room.Once there, as he does almost every afternoon, Gaughan sat down to a game of low-limit Texas Hold'em...read more

Fitch takes a "circumspect view" of Caesars' plans to remodel Bill's Gamblin' Hall

LAS VEGAS -- Fitch Ratings Service weighed in on Caesars Entertainment Inc.'s plans to spend $146 million to remodel Bill's Gamblin' Hall and Saloon, saying Friday it had a "circumspect view" of the project.Caesars, which owns 10 casinos on or near the Strip, wants to remodel Bill's, located at the corner of the Strip and Flamingo Boulevard, which includes adding a pool and nightclub - operated by Drai Management Group - on the roof of the casino."The Drai's financing is consistent with Caesars' more recent transactions of carving out assets or selling assets from Caesars Entertainment to fund (capital expenditures) aimed at revitalizing the company's Las Vegas portfolio of assets," Fitch gaming analyst Michael Paladino said in a report to investors.Caesars plans to remodel the 198 hotel rooms and the 17,200-square-foot casino at Bill's...read more

Top-10 comedians' take on gambling

Gambling can bring about a myriad of emotions, from exhilaration to depression. But the experience can also, with the right comic treatment, be downright hilarious.Some comics have their finger on the pulse of gamblers, and here are the top-10 comic routines on gambling.10...read more

How good is your total against various dealer upcards at blackjack?

Say you’ve played out your own hand at blackjack. The dealer didn’t have a blackjack (or the round would have ended before it began), and you didn’t bust. You’re therefore at a moment of truth, anticipating how the dealer will fare. If your total is 21, you’re in fine shape...read more

Nevada, N.Y. officials investigate Cantor in betting ring scheme

LAS VEGAS -- A Nevada gaming regulator said Thursday that the state's probe into illegal bookmaking and money laundering that led to the arrest of a Cantor Gaming vice president and seven others in Las Vegas includes the sports book operator itself, focusing on possible regulatory violations.Jerry Markling, chief of enforcement for the Nevada State Gaming Control Board, said Thursday that investigators in Nevada have been working with the New York City Police Department's Organized Crime Investigation Division for the past 15 months to unravel a "large-scale bookmaking operation."Gaming and legal sources on Wednesday had said the matter did not involve Cantor Gaming and was unrelated to its business in Las Vegas...read more

Revenues increase 21 percent at Bally Technologies

LAS VEGAS -- Bally Technologies, Inc. grew revenues 21 percent in the first quarter as the slot machine maker hopes to capitalize on the positive feedback it received from last month's Global Gaming Expo (G2E).Also, Las Vegas-based Bally on Thursday announced a $150 million share repurchase plan that replaced an existing program under which the company bought back approximately $127 million of common stock...read more

Pinnacle grows third-quarter revenues despite hurricane disruption and challenging markets

LAS VEGAS -- Pinnacle Entertainment, Inc. is making progress toward selling an empty land parcel the company controls in Atlantic City.The Las Vegas-based regional casino operator told investors Wednesday it hopes to enter into a definitive agreement to sell the Boardwalk site by the end of the year.The site formerly housed the since-demolished Sands Casino.Pinnacle planned to build a hotel-casino complex on the site but scrapped plans three years ago with the economy crumbled.Pinnacle told investors the company took a noncash impairment charge of $6.9 million on the Atlantic City land during the third quarter, which factored into the company's overall results.Pinnacle said it grew revenues 2.8 percent in the quarter that ended Sept...read more

A.G. Burnett promoted to chairman of Gaming Control Board

LAS VEGAS -- Gaming Control Board member A.G. Burnett was promoted to chairman of the Nevada State Gaming Control Board Wednesday by Gov. Brian Sandoval.Burnett has been a member of the three-person regulatory body since January 2011. He was the deputy chief of the control board's corporate securities division when Sandoval appointed him to the board.Burnett, 43, also served as a senior deputy attorney general in the gaming division."A.G.'s experience on the Gaming Control Board combined with his strong working relationships with gaming regulators and securities regulators in countries such as Macau and Singapore will be an invaluable asset as the board moves into the next generation of gaming," Sandoval said.On Monday, Sandoval appointed Terry Johnson, the current director of the Nevada Department of Business and Industry, as a member of the board, replacing outgoing chairman Mark Lipparelli, who stepped down in September.Lipparelli, whose term expired at the end of December, said he wanted to give the new chairman time on the panel before the Legislative session convenes in February.Burnett will take over as chairman for next week's scheduled meeting in Las Vegas...read more

Affinity Gaming's new adviser Deutsche Bank Securities

LAS VEGAS -- Affinity Gaming said Wednesday it had retained Deutsche Bank Securities Inc. to act as its financial adviser in its evaluation of future opportunities.The move comes a day after Z Capital Partners, the casino operator's largest shareholder, said it seeks regulatory approval to take control of the company.In a statement, Las Vegas-based Affinity said the board of directors in late September formed a Special Opportunities Committee to review, evaluate and determine whether opportunities should be brought to shareholders for approval.Z Capital CEO Jim Zenni complained about the board authorizing a $300,000 payment to company Chairman Don Kornstein who helped negotiate a three-way asset swap with Golden Gaming and Jett Gaming last year...read more

Executives hired by company planning Sahara rejuvenation

LAS VEGAS -- The Los Angeles-based company planning a renovation of the former Sahara site has named two corporate executives with ties to the gaming industry.SBE Entertainment Group, LLC on Tuesday named Sam Bakhshandehpour as company president and Veronica Smiley as chief marketing officer...read more