Featured Articles Archive - Page 308

Cantor Gaming sports book director arrested, faces eight charges

LAS VEGAS -- Cantor Gaming sports book director Mike Colbert was arrested Wednesday in Las Vegas by state gaming agents in connection with a warrant filed by the district attorney in Queens County, N.Y.Gaming and legal sources confirmed the charges involve Pinnacle Sports (PinnacleSports.com), one of the largest offshore sports wagering websites...read more

Affinity Gaming's largest shareholder seeks to take control of company

LAS VEGAS -- The largest shareholder in Affinity Gaming is seeking regulatory approval to take control of the Las Vegas-based casino operator.In addition, the chief executive officer of Z Capital Partners, an Illinois-based private equity group, said a $300,000 payment authorized by Affinity's board of directors to its chairman in 2011 created "an obvious, material and inappropriate risk of a conflict of interest, is an extremely poor corporate governance practice and should never have been considered, nor be permitted in the future."In a petition filed with the Missouri Gaming Commission last week, Z Capital CEO Jim Zenni said the company was seeking a "change in control" under the state's gaming regulations.Z Capital, which owns 24.97 percent of Affinity Gaming, expects to increase its ownership stake in the company above 25 percent, which would trigger change-of-control clauses under various rules .Affinity currently operates 12 casinos: nine in Nevada, two in Missouri and one in Iowa...read more

Nevada's director of Business and Industry tapped for Gaming Control Board

LAS VEGAS -- Terry Johnson, director of the Nevada Department of Business and Industry, was named on Monday to the Nevada State Gaming Control Board by Gov. Brian Sandoval.Johnson replaces Mark Lipparelli, who resigned as chairman of the three-member panel at the end of September...read more

MGM gets approval to build Cotai hotel

MGM Resorts International was approved by the Macau government Thursday to build a $2.5 billion hotel-casino on the Coati Strip region.The company, through its 51 percent-owned MGM China subsidiary, paid $56 million for the land, and government officials will arrange for publication of the land concession contract in the Official Gazette of Macau.A 36-month construction effort will begin as soon as the contract is published."This destination resort represents a significant growth opportunity for MGM China," MGM Resorts Chairman Jim Murren said in a statement...read more

Poker Hall of Fame to induct two more members

LAS VEGAS -- The Poker Hall of Fame will induct Eric Drache and the late Brian "Sailor" Roberts as the organization's 43rd and 44th members during the final table of the World Series of Poker's Main Event later this month.The pair were nominated by the public and voted in by a 36-person panel made up of existing Poker Hall of Famers and members of the media.Roberts, who died in 1995, won the World Series of Poker's $10,000 buy-in No Limit Hold'em World Championship in 1975...read more

Affinity Gaming licensed in Colorado; company will take control of three casinos

Affinity Gaming has been licensed in Colorado, allowing the Las Vegas-based casino operator to complete its acquisition of three gaming properties outside of Denver.The company announced Friday it was licensed by the Colorado Limited Gaming Control Commission...read more

Machine makers wonder if G2E buzz will yield buying

LAS VEGAS -- So who won?We're not talking about the presidential debates.Gaming equipment manufacturers annually put their best efforts -- along with millions of research and development dollars -- into the Global Gaming Expo.The sector wants to impress not only casino floor executives who make decisions on which new games to purchase, but Wall Street analysts who tell shareholders which companies are worth their investment.The recently concluded G2E at the Sands Expo and Convention Center contained a clear message.Slot machines themed after the rock band Kiss, NASCAR, entertainers, movies and television series showed that game makers had prioritized their capital budgets to focus on licensed brands.Manufacturers also want the same content to work across multiple channels, including casinos, lottery games, online wagering, mobile gaming and social gaming."For the third year in a row, suppliers have made a concerted effort to produce games focused on a younger generation," Macquarie Securities gaming Chad Beynon said.The large slot machine developers -- International Game Technology, Bally Technologies and WMS Industries -- traditionally dominate the G2E floor.Beynon and other analysts said smaller companies, such as Multimedia Games, Aruze, Spielo and Ainsworth, impressed slot machine buyers."We were encouraged by the product that was on the floor, however, the increased competition was clearly evident at the show with smaller, more nimble players having a strong presence," Beynon said...read more

Top-10 story lines at the WSOP Main Event final table

Play resumes at the World Series of Poker Main Event final table next week, with nine players vying for an $8.5 million payday. As you sit down to watch ESPN’s televised coverage of the final table –- or head to Vegas to watch it in person, here are 10 stories to keep an eye on.10...read more

A fight to the finish in Maryland

Sometimes, you know when to fold your hand.Toronto-based Clairvest Group and Great Canadian Gaming of Vancouver, British Columbia, spent roughly $6 million backing a pair of Oregon ballot questions they hoped would lead to a $300 million casino development outside of Portland.On Tuesday - three weeks before the Nov...read more

MGM gets approval to build Cotai hotel

MGM Resorts International was approved by the Macau government Thursday to build a $2.5 billion hotel-casino on the Coati Strip region.The company, through its 51 percent-owned MGM China subsidiary, paid $56 million for the land, and government officials will arrange for publication of the land concession contract in the Official Gazette of Macau.A 36-month construction effort will begin as soon as the contract is published."This destination resort represents a significant growth opportunity for MGM China," MGM Resorts Chairman Jim Murren said in a statement...read more