Featured Articles Archive - Page 381

MGM Resorts reverses second-quarter loss

LAS VEGAS, Nevada -- MGM Resorts International used its quarterly earnings conference call to somewhat soothe the nerves of the investment community, battered by Monday's 634-point loss in the stock market.The casino giant, which operates 10 resorts on the Strip, including CityCenter Aria Resort & Casino , Bellagio and the MGM Grand Las Vegas, had scheduled its second-quarter earnings release several weeks ago...read more

Top-10 Epic Poker League observations

The Epic Poker League (EPL) officially got underway over the weekend, with its first $1,500 Pro/Am at The Palms Casino Resort. The elite poker league – and whether it can succeed – has been the subject of a great deal of debate in recent months.While the first Main Event gets underway on Tuesday, there were some good indicators of what to expect from the league based on its first tournament...read more

Sands subsidiary to open luxury hotel in Macau

MACAU -- Sands China Ltd., a subsidiary of Las Vegas Sands Corp., announced Friday that its new multibillion-dollar Macau resort would house Hilton and Intercontinental hotel brands when it opens next year.Located on Macau's Cotai strip, next to The Venetian Macao Resort-Hotel, Sands Cotai Central will feature 6,000 rooms from Conrad and Holiday Inn brands, owned by Hilton and Intercontinental respectively, as well as Sheraton and Sheraton Towers.Terms of the agreements were not disclosed."When the doors to the rooms and suites at Cotai Central start swinging open early next spring, Macau's metamorphosis from a gaming-centric regional location into an international leisure and business destination will be a step closer to completion," said Sheldon Adelson, chairman of Sands China and Las Vegas Sands, in a statement.The 636-room Conrad Macau is expected to open in the first quarter of 2012."This is a key project for us as it marks the entry of the Conrad brand .....read more

Palms goes all-in with Epic Poker League

LAS VEGAS, Nevada -- At first, The Palms Casino Resort President George Maloof wasn't completely sold on the Epic Poker League.He's glad he changed his mind.Up to 240 of the world's best poker players are invading the off-Strip casino this week for the first of four Epic Poker League events scheduled through January...read more

How do casinos decide what edge to put on the different bets?

Casinos have flexibility in setting edge or advantage over players. Edge, a function not only of probability but also of payoff, measures how much the house is fiscally favored. Depending on the details of the games, it can be altered by varying either or both of these parameters. Dice games offer simple examples...read more

Deal Me In: Trading aces

Dear Mark: Anytime you play a machine that rewards quads, like for instance, four aces, is the machine programmed to deal fewer four-ace hands? Larry F.Many video poker machines, Larry, like Double Bonus Poker and Super Aces, have larger payouts for specific big hands, such as four aces...read more

Ferris wheel plans still spinning in Vegas

LAS VEGAS, Nevada -- The question over competing giant Ferris wheel-type projects on the Strip comes down to who has all their bearings.At least, that's what developer Howard Bulloch says.Bulloch, who is behind the Skyvue development on the south end of the Strip across from Mandalay Bay Resort & Casino, said he has acquired the two giant 23,000-pound bearings needed to operate a 500-foot tall London Eye-style wheel that is the centerpiece of the project...read more

Illinois, Massachusetts mull gambling proposals

SPRINGFIELD, Illinois -- Illinois Gov. Pat Quinn has still not decided what he will do with a gaming bill that could massively expand gambling throughout the state. Meanwhile, in Massachusetts a casino developer said he’s launching a ballot initiative campaign for the 2012 election that would legalize three casinos in the state. Illinois and Massachusetts are the two most active gaming expansion markets currently in play. Quinn told media outlets in Illinois on Wednesday he hadn't made up his mind about the bill that was approved by state lawmakers in June...read more

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