Featured Articles Archive - Page 342

Federal online poker not a good bet in 2012

LAS VEGAS, Nevada -- A Wall Street gaming analyst told investors Friday that debate over federal legislation that would legalize Internet poker has most likely been pushed into 2013 after lawmakers didn't attach an online gaming bill to the payroll tax cut extension.However, Macquarie Securities gaming analyst Chad Beynon said in a research report that Nevada stands to benefit from the inaction because it may be the only state that allows Americans to gamble online this year.Earlier this week, Nevada gaming regulators finalized the state's minimum internal control standards for interactive gaming, which could become effective in a month."We think the standards were written in a way that will allow for small adjustments as the process moves forward," Beynon told investors...read more

Is the optimum strategy the same for 9-6 and 8-5 video poker?

Video poker is a casino favorite. For many reasons. One of these is the participatory nature of the game. Players have to make decisions during the course of a round – which of the dealt cards to hold or dump. If folks were unfamiliar with poker, in general, this would be mind-boggling...read more

MGM Resorts reaches marketing deal with Ameristar Casinos

LAS VEGAS, Nevada -- A gaming expert said a strategic marketing relationship announced Wednesday between MGM Resorts International and Ameristar Casinos to share player data systems signifies the wave of the future.Under the agreement, customers of MGM Resorts, which has 10 casinos on the Strip, and customers of Ameristar, which operates regional casinos in six markets, can use their points and rewards at either companies' properties.For example, a loyal customer at Ameristar Casino - St...read more

Cleveland casino to open in May

CLEVELAND, Ohio -- A project half-owned by Caesars Entertainment Corp. will become Ohio's first casino.The Horseshoe Casino Cleveland was given permission by Ohio gaming regulators to open the week of May 14. Caesars owns the $350 million downtown Cleveland casino with Ohio developer Rock Gaming.The casino, which will have 2,100 slot machines and 65 table games, including a World Series of Poker-themed poker room, will be part of a 300,000-square-foot facility that includes several restaurants.Horseshoe Cleveland will be the first casino to open since a statewide gaming ballot measure was approved in November 2009 allowing four casinos in the state...read more

Deal Me In: Reading your way to riches

Dear Mark: Can you recommend a book or two that outlines the proper strategy on video poker? Peter E.Video poker, Peter, is one of those rare casino games that can be beaten by the knowledgeable player. The game can often have a positive expectation on select machines, and can offer the player the chance to get the best of the casino, but, Peter, you must cherry-pick the right machines and play the proper strategies on them.For the average Joe or Josephine or Peter, who is just a recreational player but wants to become serious about video poker, I recommend four straightforward, and easy-to-grasp books: Victory at Video Poker by Frank Scoblete, and either Precision Play or Optimum Play by Dan Paymar.If you are looking for a rag-to-riches success story from a top video poker professional, go with Million Dollar Video Poker by Bob Dancer...read more

bwin.party reportedly looking to unload poker network

LONDON, England -- Britain-based online poker giant bwin.party, the operators of Party Poker, is reportedly looking to unload a duplicate Internet poker network that it acquired following a recent merger. Roth Capital Markets gaming analyst Todd Eilers told investors recently that Shuffle Master might be a suitable buyer.Eilers said he wouldn't be surprised if Shuffle Master jumps into the bidding for Ongame Poker Network, which is the fifth-largest in Europe according to pokerscout.com.Shuffle Master unveiled a two-pronged effort in the interactive gaming area last year, targeting regulated Internet gaming in Europe, and the free casual-social gaming markets in the United States."We view the interactive gaming opportunity as the most underappreciated aspect of Shuffle's growth story," Eilers wrote after visiting with Shuffle Master executives...read more

Ohio could give Las Vegas gaming company a boost

LAS VEGAS, Nevada -- The opportunity to test and certify gaming equipment destined for the up-and-coming Ohio casino market could give a boost to Las Vegas-based laboratory BMM Compliance.The company was certified in January by the Ohio Casino Control Commission, which authorizes BMM to test and evaluate slot machines, electronic table games, gaming-related systems and other ancillary gaming equipment for compliance with the regulations and technical standards set by the Ohio Casino Control Commission.Ohio could soon become quite busy.Four full-scale casino projects are in development in Ohio's four largest cities...read more

CityCenter suffers $45 million loss in fourth quarter

LAS VEGAS, Nevada -- MGM Resorts International said Monday that its CityCenter development had a net operating loss of roughly $45 million in the fourth quarter, but saw revenues increase roughly 4 percent.The company, which owns the 67-acre Strip complex in a 50-50 partnership with Dubai World, preannounced quarterly earnings for CityCenter Aria Resort & Casino on Monday when it unveiled plans to refinance $240 million in debt.In a statement, MGM Resorts said it plans to refinance the debt through a private placement and said the funds, along with cash on hand, would be used to pay off $300 million of CityCenter's $2.5 billion debt.Earlier this month, MGM Resorts said it was amending its financing for portions of CityCenter debt to extend maturity dates by a year, to 2015.JP Morgan gaming analyst Joe Greff called the refinancing a "prudent, opportunistic move" given that the credit markets have seemingly loosened in recent months."In our view, this further increases MGM's financial flexibility following previously disclosed actions that, collectively, enhance equity value," Greff told investors.Union Gaming Group principal Bill Lerner said the refinancing should remove some restrictive covenants from CityCenter's debt and provide better financial flexibility to the development's balance sheet.Fitch Rating Service gaming analyst Michael Paladino was also positive on the refinancing, saying the transaction would "allow CityCenter to accumulate an additional cash cushion."MGM Resorts said CityCenter, which includes the 4,000-room Aria hotel-casino, would have net revenues of $269 million during the quarter ended Dec...read more

Top-10 sports bets that should be on your bucket list

Last week, I had the good fortune of watching the New York Giants beat the New England Patriots in the Super Bowl. Sure, it was great on a personal level, as I've been a Giants fan since I was a kid. But it was also great on a financial level, because my good friend and colleague Vin Narayanan had bought me a "New York Giants to win the Super Bowl" futures ticket as a gift during a trip to the The Venetian Resort-Hotel-Casino in Las Vegas in October...read more

Golden Nugget signs agreement with Chiligaming

LAS VEGAS, Nevada -- The operator of the Golden Nugget casinos signed an Internet gaming agreement with a European online gambling company and plans to launch a free play website later this year. In a joint statement Friday with Chiligaming, Golden Nugget Chairman Tilman Fertitta said the free play website positions the casino operator to compete in the U.S...read more