Featured Articles Archive - Page 352

Market surge boosts gaming stocks

LAS VEGAS, Nevada -- One day doesn't make a month.But Wednesday's 490-point surge by the Dow Jones industrial average -- the largest single day gain since March 2009 -- gave the stock prices of several publicly traded casino operators and slot machine manufacturers a lift on the last day of November.The month as a whole, however, was a mixed bag.Casino giant Wynn Resorts Ltd., which saw its price per share climb $10.42, or 9.46 percent, to close at $120.56 on the Nasdaq Global Select Market on Wednesday, saw its average daily price fall more than 6 percent during the month.Brian Gordon, a principal with Las Vegas-based financial consultant Applied Analysis, which charts seven casino operators and three manufacturers for its Gaming Index, said the sector surged Wednesday...read more

Deal Me In: A side bet here, a side bet there

Dear Mark: Some of the local casinos are offering a side bet called "Perfect Pair" at their blackjack tables. What are the casino odds on this bet, and is it worth playing? Richard G. We all get our share of "mixed pairs," cards of the same number, one black and one red...read more

Macau gaming revenues shatter last year's record

MACAU -- Eleven months are in the books for 2011 and Macau's casino industry has collected more than $30.5 billion in gaming revenues, blowing past the region's total for 2010, which was itself a record haul.Actually, Macau's 34 casinos surpassed last year's $23.5 billion mark during the third quarter.Investors have shifted their focus toward 2012...read more

Farewell to Barney Frank; missing my chance to vote for Internet gambling's champion

I was a big fan of Barney Frank, even before I lived in Massachusetts. The 16-term Congressman from Newton, Mass., is a fiery liberal who takes no prisoners. He points out hypocrisy wherever he sees it, and will even go after a sitting president in his own party if he disagrees with the policies of the administration.When I started writing about the gambling industry I learned a lot more about Frank...read more

Frontier site to remain empty on Las Vegas Strip

LAS VEGAS, Nevada -- The empty land on the Strip that once was the site of the New Frontier will remain empty.The Israeli company that bought the 36-acre site in May 2007 for more than $1.24 billion said Monday that it wrote off $500 million of the investment, according to a report in an Israeli financial media outlet.Elad Group planned to build a $5.7 billion version of New York's famous Plaza Hotel on the site, across from Wynn Las Vegas and adjacent to the Trump International.But the real estate market has seemingly ended those plans."It can be clearly said that the Plaza project will not go ahead," IBI Investment House analyst Shay Lipman told Globes, an Israel-based publication...read more

Deal Me In: Pirates of the Caribbean

Dear Mark: I am going on a cruise in March and was wondering should I expect the same payoffs on slots that I receive here in Biloxi? Also, how are casinos regulated on a cruise ship, and what if a dispute was to happen? Emile D.When sailing the high seas, Emile, your floating hotel casino offers the only game in town...read more

Top-10 things to note about the Massachusetts casino law

Last week, Massachusetts Governor Deval Patrick signed legislation that will establish a commission to regulate casino gambling in the commonwealth. As a resident of the state and a journalist who covers the industry, I'm excited to see how it all develops over the next few years, and can't wait to attend the opening ceremonies when the first facility opens.I've watched the developments with a bit of a closer eye, as it not only affects what I'll be doing in my job, but also because the new casinos could have a big impact on my life, and the life of every other Bay State resident.I've given the legislation signed by the governor a good read, and here are the top-10 elements of the new Massachusetts casino law that piqued my interest.10...read more

Macau gaming market still red hot

MACAU -- Any rumors that Macau's gaming market was slowing were put to rest this week.The government's secretary for the economy and finance projected the Chinese gaming enclave could provide the special administrative region roughly $10.6 billion in taxes in 2012.If the figure holds, it would exceed what the entire Nevada casino industry collected in just gaming revenues alone during 2010...read more

Who should craps buffs thank or blame for too few or too many sevens?

Craps aficionados know – or should – that the chance of a seven showing on a toss is one out of six. There’s no great mystery to this probability. It follows from the totals on the faces of two balanced dice. Here are all the possible combinations: 1-1, 1-2, 1-3, 1-4, 1-5, 1-6, 2-1, 2-2, 2-3, 2-4, 2-5, 2-6, 3-1, 3-2, 3-3, 3-4, 3-5, 3-6, 4-1, 4-2, 4-3, 4-4, 4-5, 5-6, 5-1, 5-2, 5-3, 5-4, 5-5, 5-6, 6-1, 6-2, 6-3, 6-4, 6-5, 6-6...read more

Slot machine sales slow but developing

LAS VEGAS, Nevada -- Last month's Global Gaming Expo was hardly sedate. The leading slot machine manufacturers didn't skimp on promoting their new games and technology. Celebrities, celebrity impersonators, attractive dancers and other means were deployed along the trade show floor of the Sands Expo and Convention Center with the goal of drawing potential slot machine buyers into the game developers' booths. What was subdued, however, was the industry's hope for increased slot machine sales. Over the past few years, the gaming equipment sector has experienced declining revenues...read more