Featured Articles Archive - Page 369

Macau gaming revenues hit $3 billion mark

MACAU -- Macau casino operators had a near-record month in July for gaming revenues, helped by the opening of the Galaxy Macau in May.Casino authorities in Macau said Monday that gaming revenues grew 48.4 percent in July, hitting the $3 billion mark for just the second time.Macau said the 24.2 billion patacas produced in July by the region's 34 casinos fell just below May's all-time record of 24.3 billion patacas...read more

Top-10 World Series of Poker moments

Many poker pundits predicted the World Series of Poker would suffer a major fall from grace after the Black Friday indictments of April 15. But it never happened. In fact, this year's WSOP was a smashing success with a record 75,672 entries in 58 events creating a record prize pool of $191,999,010.The WSOP is not over yet...read more

Caesars pays out $7.75 million in executive bonuses

LAS VEGAS, Nevada -- Caesars Entertainment Corp. paid out $7.75 million in bonuses to key executives for their efforts in slicing more than $100 million in company costs. The largest payment was $1 million to Caesars Chairman and Chief Executive Officer Gary Loveman. In a Thursday filing with the U.S...read more

Deal Me In: Blackjack comps 101

Dear Mark: Does the casino look at my skill level at blackjack when awarding comps, or, how much money I actually bet? Jan D. Every casino makes use of some formula to determine how much the player’s action is worth to it. To be eligible for the goodies, you must bet a certain amount, for a certain period of time, and then your RFB’s (room, food and beverage) calculation is based on what you are probably going to lose.The method typically used assumes your average bet, guesstimating your hours of play, speed of the game, and the casino advantage...read more

Wynn sets sights on Singapore

SINGAPORE -- It took awhile, but Singapore finally caught the attention of Steve Wynn.It's hard not to notice the tiny island-nation.Singapore's two casinos are poised to pass Las Vegas as the world's No. 2 gaming destination less than two years after gaming began.If you want further proof, just look at the results posted by Marina Bay Sands in the second quarter.Last week, parent company Las Vegas Sands Corp...read more

Gaming stocks up despite debt ceiling concerns

LAS VEGAS, Nevada -- What debt ceiling? Gaming industry stocks seemed to be shielded from concern about raising the federal debt ceiling, an issue that has made investors in other sectors somewhat skittish. Nine of the 10 gaming industry stocks followed by Las Vegas-based financial consultant Applied Analysis showed increases in their average daily share prices during July, including doubled-digit jumps by casino operators MGM Resorts International, Las Vegas Sands Corp...read more

Do you discount the significance of the come-out roll at craps?

Most craps aficionados bet on Pass or Don’t Pass during the come-out phase of a hand. They go through the come-out roll but give it short shrift, thinking it’s mainly means for establishing the point. Focus is on the rolls that follow, until the shooter repeats the point or sevens-out. Three primary factors account for this attitude...read more

Alderney gives Full Tilt more time

A substantive hearing regarding the future of Full Tilt Poker's gaming license has been delayed to allow Full Tilt “to further pursue advanced commercial negotiations which could lead to a more beneficial outcome for player interests,” the Alderney Gambling Control Commission (AGCC) announced Wednesday...read more

IGT posts third quarter loss

LAS VEGAS, Nevada -- Slot machine giant International Game Technology said Tuesday its net income declined slightly in the company's third quarter.For the period that ended June 30, IGT said its net income was $92 million, or 30 cents per share, compared with net income of $96 million, or 32 cents per share, in the same quarter last year.The company, which has corporate headquarters in Las Vegas and a manufacturing presence in Reno, saw revenues for the quarter grow 3 percent to $489 million, with gaming equipment sales accounting for 45 percent of IGT's total revenues.The company said 55 percent of its revenues came from slot machines where IGT shares in revenues with casinos.IGT CEO Patti Hart said in a statement the company was expanding its presence into new and existing markets outside the United States."Our third-quarter results further demonstrate the positive momentum generated by our new games, platforms and internal process improvements," Hart said.Revenue increased 7 percent in slot machine sales, to 8,900 games in the quarter...read more

Epic Poker Leagues reaches TV deal with CBS

LAS VEGAS, Nevada -- The upstart Epic Poker League, which kicks off its initial round of events next week at The Palms Casino Resort, has signed a broadcast deal with the CBS Television Network and Discovery Communications to air a combined 20 hours of programming.The agreement, which is expected to be announced today, will give the league, the brainchild of former World Series of Poker Commissioner Jeffrey Pollack and poker professional Annie Duke, prime television slots within seven hours of CBS' weekend sports television schedule.The Epic Poker League is planning four events at the Palms in August, September, December and January, each of which will have a $20,000 buy-in No Limit Hold'em Main Event.The inaugural Main Event will take place Aug...read more