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Featured Articles Archive - Page 397

  • Latest Articles     3961 - 3970

 
Articles by Howard Stutz

Questions remain over stopped-in-progress Nevada projects

7 February 2011
LAS VEGAS, Nevada -- In Laughlin, a few miles up Casino Drive from the cluster of the town's resorts, sits the hulking shell of what was to have been the Emerald River, an $800 million hotel, casino, golf and resort complex.Fourteen floors of one hotel tower and seven floors of a second were completed before the money ran out, the project went bankrupt and construction stopped.That was more than 20 years ago.The concrete and steel towers still remain near the edge of the Colorado River, rising above overgrown weeds and desert foliage.Some people wonder whether this could be the future of several land parcels along the Strip.Construction of Echelon, a $4.8 billion development by Boyd Gaming Corp...read more
 
Articles by Howard Stutz

Hawaii legislators once again explore gaming legalization

7 February 2011
HONOLULU, Hawaii -- Another effort to legalize gambling in Hawaii will most likely fade like a Honolulu sunset. Hawaii and Utah are the only two states without any form of legalized gaming. A proposal for a single casino on the island of Oahu died in the state legislature a year ago...read more
 
Articles by Alan  Krigman
Articles by Alan Krigman

How does the casino get its edge on the bets you make?

7 February 2011
Most folks you might ask, civilians you encounter in the real world as well as solid citizens you meet in the casino, think the bosses get their edge by winning more bets than they lose. Astute players can readily identify propositions they have a greater chance to win than lose, however...read more
 
Articles by Aaron  Todd
Articles by Aaron Todd

Understanding of self is key to poker success

4 February 2011
I have always been a fan of endurance sports. I was on the cross country and track teams in high school and college. And I continue to run, bike and cross country ski at every opportunity.(You're probably wondering how this relates in any way to poker or gambling right now...read more
 
Articles by Mark  Pilarski
Articles by Mark Pilarski

Deal Me In: A sort-of answer to a sort-of query

4 February 2011
Dear Mark: I play craps on a $10 minimum table. Can I play a $5 come or pass line bet on a $10 minimum table? Lee B.A Come bet, Lee, has the same rules and costs as a wager on the Pass Line, the only difference being that it is placed after the point has been established...read more
 
Articles by Howard Stutz

MGM Resorts says Egypt hotel will move forward

4 February 2011
CAIRO, Egypt -- MGM Resorts International said it is still planning to move forward with a nongaming luxury hotel near Cairo, Egypt, despite the weeklong massive unrest the country is experiencing as protesters seek the ouster of President Hosni Mubarak. The Las Vegas-based casino operator announced plans for the MGM Grand New Giza in June 2009...read more
 
Articles by Howard Stutz

Singapore resort fuels Las Vegas Sands

4 February 2011
SINGAPORE -- The Marina Bay Sands is not even a year old, but the $5.5 billion resort has quickly become a key piston in the engine driving Las Vegas Sands Corp.The casino operator said Thursday it reversed a fourth-quarter net loss from a year ago, with a chunk of the increase attributable to the company's resort in Singapore, which opened in April.Las Vegas Sands reported net income of $271 million in the quarter that ended Dec...read more
 
Articles by Howard Stutz

Las Vegas gaming industry expected to have slow recovery

3 February 2011
LAS VEGAS, Nevada -- Fitch Ratings Service tagged the American gaming industry with a stable outlook Wednesday but said it expects the economic recovery in Las Vegas to lag regional casino markets. In a report for the investment community, Fitch analysts said gaming revenue growth was resuming in many markets following a 2-year recession that reduced consumer spending at casinos throughout the country. In December, the ratings service gave the gaming industry a negative rating. Fitch senior analyst Michael Paladino said the new report "is very market specific." He said some casino jurisdictions are recovering quicker than others but the industry could turn negative again should the national economy take another dip. "Certain markets are getting better, but this is an industry that is capital intensive where there are also high leverage levels," Paladino said in an interview after the report was released...read more
 
Articles by Howard Stutz

Penn National begins M Resort promotion

3 February 2011
LAS VEGAS, Nevada -- Regional casino operator Penn National Gaming told investors Thursday it has begun marketing the M Resort to its customer database while telling Wall Street the property's results should start showing up on the company's balance sheet in the last half of the year.During the company's fourth-quarter earnings report, Penn National Chairman and Chief Executive Officer Peter Carlino said negotiations are nearly complete with M Resort's equity holders regarding a purchase agreement for the 390-room hotel-casino."We began sending offers to stay at the M to some of our highest-value players and, while it is still early, the response has been encouraging," Carlino said.Penn National Chief Operating Officer Tim Wilmott said the company mailed more than 100,000 marketing and promotional pieces on the M Resort.Wyomissing, Pa.-based Penn National spent $230.5 million in October to acquire $860 million in debt covering M Resort, which included $160 million in subordinated debt formerly held by MGM Resorts International and $700 million in debt from Bank of Scotland.M Resort opened in March 2009 and was built and operated by Anthony Marnell III and his family."We believe we are close to completing negotiations with the property's equity holders regarding ownership and future operations and are simultaneously working with Nevada gaming regulators to secure necessary approvals for the transaction," Carlino said.Penn National said revenues and cash flow from M Resort could begin showing up on the company's balance sheet in the third quarter.M Resort is one of seven development projects Penn National Gaming has on the company's books.Penn National opened a casino in Maryland in September; has expansions under way at a riverboat casino in Illinois and a racetrack casino in West Virginia, that are expected to be completed this year; is building new casinos in Toledo, Ohio and Columbus, Ohio, that have planned openings in 2012; and is building a new casino in Kansas that will open in 2012.Penn National posted higher-than-expected revenue for the fourth quarter that ended Dec...read more
 
Articles by Vin  Narayanan
Articles by Vin Narayanan

GPWA among winners at iGB awards

2 February 2011
The Gambling Portal Webmasters Association (GPWA) won the inaugural Lou Fabiano Award for Best iGaming Community at Thursday's iGB Affiliate Awards. According to the judges, the GPWA won the award because they were "impressed by their strong reputation and provision of a well-moderated community where members actively contribute to important industry topics." The judges also liked "how GPWA have increased forum participation and introduced useful tools to help both programs and affiliates." They concluded that the GPWA was "an authority community for the iGaming industry, which is well-presented and extremely useful." The award, named after the late Lou Fabiano, was one of 14 awarded at the festive, humor-filled night at The Brewery in London. James Woods from Bet365 won the award for Best Affiliate Manager...read more

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