Featured Articles Archive - Page 317

World Series of Poker schedule set; final table determined July 16

LAS VEGAS -- The 2013 World Series of Poker will take place May 29 through July 16 at the Rio, tournament officials announced this week.The slate of individual events still is being finalized, but the tournament is expected to include at least 60 events where the winners earn gold bracelets.The $10,000 buy-in No Limit Hold'em World Championship, often referred to as the Main Event, will be contested over 10 days beginning July 7.Three starting flights will take place July 7 to 9, with the final table of nine being determined July 16...read more

Penn National plans split into two separate companies

Penn National Gaming, Inc., which saw its stock price jump to nearly a five-year high Friday after announcing plans to split the regional casino operator into two separate publicly traded companies, may be the trendsetter for the rest of the casino industry.Analysts universally praised Wyomissing, Pa.-based Penn for the move, which separates 17 of the company's 29 casinos and racetracks into a real estate investment trust, often referred to as a REIT.Penn, which began as a Pennsylvania racetrack operator, is best known for its Hollywood-branded casinos.Penn operates in 19 states and the Canadian province of Ontario...read more

Is it always best to double down in blackjack when Basic Strategy says to?

Experienced blackjack buffs know that the correct Basic Strategy choice for certain combinations of two-card totals and dealer up-cards is to double-down. That is, to match their original bets and draw one and only one additional card. Few players, however, have a clue about the rationale for this dictum – except, perhaps, in vague terms such as they win more by doing so...read more

Caesars appoints new chief financial officer

LAS VEGAS -- Caesars Entertainment Inc. went outside the gaming industry and named Donald Colvin as chief financial officer on Thursday.Colvin served in a similar position with ON Semiconductor Corp. from April 2003 until October. Before joining ON Semiconductor, he held a number of financial leadership and CFO positions with Atmel Corporation, European Silicon Structures and several financial roles at Motorola Inc.Colvin replaces Jonathan Halkyard, who left the casino operator in the summer to become CFO at NV Energy."Donald brings to Caesars more than two decades of financial leadership experience and a track record in driving financial strategy, managing complex balance sheets, executing and integrating acquisitions, and increasing shareholder value," Caesars Chairman Gary Loveman said in a statement...read more

Regulators license MGM Resorts' planned Web gambling subsidiary

LAS VEGAS -- MGM Resorts International's planned online gaming subsidiary was licensed Thursday by the Nevada Gaming Commission to operate an interactive poker website in Nevada.MGM Resorts officials told regulators the company would wait until real-money poker and casino online company Bwin.Party Digital Entertainment plc is licensed by the state before launching its website.Bwin.party, MGM Resorts and Boyd Gaming Corporation have a partnership agreement to operate the online poker in Nevada and throughout the United States if Congress legalizes the activity.Bwin.Party is licensed in Gibraltar and operates throughout Europe...read more

Bally Technologies taps new CEO

LAS VEGAS -- Bally Technologies, Inc. announced Wednesday that Ramesh Srinivasan will become chief executive officer of the Las Vegas-based slot machine manufacturer.Srinivasan, 52, who will also join the company's board, replaces Richard Haddrill, who will become Bally's chairman.The transition takes effect Dec...read more

Affinity Gaming reverses loss, grows revenues in third quarter

LAS VEGAS -- Affinity Gaming reversed a third-quarter net loss as the Las Vegas-based casino operator moved to sell its three Northern Nevada casinos and took control of its casinos in Colorado.Affinity, which operates the three Primm casinos and the off-Strip Terrible's, said its adjusted net income was $1.5 million for the quarter that ended Sept...read more

bwin.party CEO questioned by Belgian officials

bwin.party CEO Norbert Teufelberger was questioned by Belgian police after speaking at the Responsible Gaming Day conference in Brussels, according to several media reports.Belgium began licensing online gambling operators in 2012. bwin.party does not have a Belgian license but does operate in the country."In response to press reports this afternoon, the Group can confirm that Norbert Teufelberger, Co-CEO, was requested to attend an interview with the Belgium authorities," the company said in a statement...read more

Pinnacle's casino development in Vietnam in jeopardy

Pinnacle Entertainment, Inc.'s $114 million investment in a casino development in Vietnam is in jeopardy after it was disclosed the development company in charge of the project is in default.The Las Vegas-based regional casino operator disclosed the issue in the company's quarterly earnings filing Friday with the Securities and Exchange Commission.Pinnacle disclosed that Asian Coast Development Ltd., which is based in British Columbia, Canada, is currently in default of deadlines for the completion of the initial phase of the Ho Tram Strip complex near Ho Chi Minh City.Investors reacted strongly to the news...read more

Fitch affirms view of Boyd, downgrades Borgata

Fitch Ratings affirmed its view of Boyd Gaming Corporation, but downgraded the company's Borgata Hotel and Spa in Atlantic City in light of impact on the market from Hurricane Sandy and increased competition.Boyd owns 50 percent of the Borgata and operates the hotel-casino...read more