Featured Articles Archive - Page 400

Nevada casinos opposing new fee plans

LAS VEGAS, Nevada -- A renewed interest in having Nevada's casino industry pay for regulating and enforcing state gaming laws is being met with the same reaction witnessed nearly a year ago. There isn't much support for a proposal that would raise $28.7 million annually through additional fees. "This is in effect a different way to create a new tax on the gaming industry," said Alan Feldman, senior vice president of public affairs for MGM Resorts International...read more

Analyst encouraged by positive start to 2011

LAS VEGAS, Nevada -- January is the time everyone weighs in with prognostications for the upcoming year. Wall Street is no different. MorganJoseph gaming analyst Justin Sebastiano said he was encouraged by what he heard from his casino industry contacts about the recent New Year's Eve celebration. "Despite the treacherous winter weather that buried parts of the country in December, New Year's Eve was likely strong enough for U.S...read more

World Series of Poker to halt all-nighters

LAS VEGAS, Nevada -- The idea of the all-night poker game is waning for the early events in the 2011 World Series of Poker.Caesars Entertainment Corp. announced recently that the 42nd World Series of Poker will begin May 31 and run through July 19 at the Rio.The entire schedule, including events, dates, times, and buy-ins, will be released later this month.The one change in the tournament will be the addition of hard stop times for all bracelet events.Players will compete in a maximum of 10 wagering levels per day.Once 10 levels are completed, remaining players will have their chips bagged and tagged and return the next day to continue on in the tournament...read more

Why you can't make informed choices among slot machines

Casino gambles are wholly characterized by two pieces of data – the payoff per unit bet and the probability of winning. Everything else that can be known – such as edge and expected long-term gain or loss, the kinds of bankroll swings you can expect to encounter during the action, the likelihood you have enough session money to survive normal cold spells, and the chance you'll reach a profit goal before running into a loss limit – can be determined from these two basic factors...read more

Top-10 poker players to watch in 2011

One of the best things about poker is its unpredictability. Thomas Marchese never cashed in a live event before 2010. Now he is the reigning Card Player "Player of the Year." If you say knew who Jonathan Duhamel was before this year, you are either lying or you're his cousin...read more

Gaming stocks rebound in 2010

LAS VEGAS, Nevada -- Stock prices for publicly traded casino operators and slot machine manufacturers rebounded in 2010 following a disastrous 2009. Of the 10 gaming companies followed by Las Vegas-based financial consultant Applied Analysis, only slot machine giant International Game Technology saw its average daily stock price tumble...read more

Slot makers look for turnaround in 2011

LAS VEGAS, Nevada -- Slot machine makers have had a rough few years. The recession caused casino operators to hold back on buying new gambling equipment, sending sales revenues plunging for some of Nevada's leading gaming equipment manufacturers. Companies such as International Game Technology, Bally Technologies and WMS Industries relied on other means to boost overall revenues...read more

Analysts say recovery is coming for Vegas

LAS VEGAS, Nevada -- The gaming industry is entering uncharted waters in 2011. For the first time since 1989, the Strip will not witness a new hotel-casino opening nor are any new resort developments on the horizon. The unprecedented building boom that covered parts of three decades and remade the look and image of the 4-mile-long boulevard is over. It ended Dec...read more

Atlantic City sees small piece of good news

ATLANTIC CITY, New Jersey -- In the final days of 2010, Atlantic City casino operators received a smidgen of good news. Pennsylvania lawmakers want to take a casino license designated for Philadelphia and transfer it to another part of the state. The move would eliminate competition from one of Atlantic City's top feeder markets, located about an hour's drive northwest of the Boardwalk. In reality, the troubled casino project has little chance of being completed...read more

Macau gambling revenues rise 66 percent

MACAU -- Macau gaming revenues grew 66 percent in December and almost 58 percent for all of 2010. The Macau Gaming Inspection and Coordination Bureau announced this morning the market generated gross gaming revenues of 18.9 billion Patacas, which translated into roughly $2.4 billion in U.S...read more