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Featured Articles Archive - Page 413
Articles by Howard Stutz
![]() Childhood friends finally see slot design on casino floors18 October 2010 LAS VEGAS, Nevada -- As teenagers, Terry Gold and Jeremy Zarowitz would sneak into local convenience stores to play video poker.Fast-forward two decades and the childhood friends now watch as Strip slot machine customers are playing 2nd Chance Royal, the video poker game they designed.Getting the game onto casino floors was a much more formidable challenge than the pair ever dreamed.Patenting took four years...read moreArticles by Howard Stutz
![]() Casinos selling for bargains in Nevada, Atlantic City18 October 2010 LAS VEGAS, Nevada -- Let's recap recent headlines.M Resort, which cost $1 billion, was essentially acquired by Penn National Gaming, which picked up the property's $860 million debt load for $230.5 million.MGM Resorts International's 50 percent stake in Atlantic City's Borgata was sold to a yet-to-be-named buyer for just above $250 million -- almost half the figure analysts expected.CityCenter, which had an $8.5 billion budget, has an equity value of $2.65 billion...read moreDeal Me In: Putting a pal in the sand trap15 October 2010 Dear Mark: I was going to Las Vegas and a friend gave me $265 (the cost of a driving range season pass for golf he wanted to win) for a pass line bet on the crap table. Since I was playing blackjack previous to making his bet, I used my own chips instead of his cash money...read moreArticles by Howard Stutz
![]() Station Casinos to hire 164 workers in Nevada15 October 2010 LAS VEGAS, Nevada -- In its first post-bankruptcy move, Station Casinos will hire 164 workers to staff customer service positions at the company's Las Vegas properties.
Of the jobs, more than 40 are manager-supervisor roles and the majority of the positions are full time.
Station Casinos Chief Operating Officer Kevin Kelley said Thursday its corporate financial reorganization cast a cloud over operations, even while business continued at the company's 18 area casinos.
Kelley said the company decided to fill positions that deal directly with hotel and casino guests as a way of boosting customer service...read morePoker controller lets players relax while raising13 October 2010 One of the most common mistakes made in online poker is the classic "misclick," when a player clicks on a button indicating an action that is in fact the opposite of what that player intended to do. (I made that mistake earlier this week, in fact, calling a half-pot bet in a pot-limit Omaha cash game on the river with bottom pair — it had been checked on the flop and turn — after my opponent made a full house).The makers of the hand-held controller made by PokerControls, however, believe that their product can help players avoid costly misclicks.The controller is compatible with most of the major online poker rooms, including PokerStars, Full Tilt Poker, Party Poker, UB.com, Cake Poker, Ladbrokes Poker, Paradise Poker, Everest Poker, Absolute Poker and Titan Poker...read moreArticles by Howard Stutz
![]() Pinnacle ponders sale of Nevada casino13 October 2010 LAS VEGAS, Nevada -- Las Vegas-based Pinnacle Entertainment is considering a sale of its only casino in Nevada.A spokesman for the regional casino operator said the company has asked CB Richard Ellis of Las Vegas to see whether there is interest from potential buyers for the company's Boomtown property near Reno.Richard Land, a spokesman for Pinnacle, said the company has not formally put the 318-room hotel-casino on the market, but has asked the real estate company to evaluate any possible interest."It's not a sale process," Land said...read moreArticles by Howard Stutz
![]() Two gamblers lose combined $115 million in Singapore13 October 2010 SINGAPORE -- Singapore, which opened its first casino in February, has already earned its place in gaming lore.Two gamblers lost a combined $115 million in American dollars during baccarat sessions at the island nation's two casinos, including the Marina Bay Sands, which is operated by Las Vegas Sands Corp.According to Singapore media, it was unclear how long the session lasted for the two gamblers, which included a Singapore businessman who appeared on the latest Forbes list of Singapore's 40 richest people.It was unclear how the split went between the two casinos...read moreArticles by Howard Stutz
![]() MGM hopes to raise over $500 million through stock sale13 October 2010 LAS VEGAS, Nevada -- MGM Resorts International said this morning it hopes to raise almost $517.4 million through a stock offering that was announced yesterday.
In a filing with the Securities and Exchange Commission, the casino operator said it priced the 40.9 million shares it has released to the open market at $12.65 per share on the New York Stock Exchange.
Shares of MGM Resorts opened down more than 9 percent this morning in early trading.
Los Angeles billionaire Kirk Kerkorian, the company's founder and largest shareholder, is placing almost 28 million shares of MGM Resorts that he owns through Tracinda, his private investment arm, on the open market.
Tracinda currently holds more than 163 million shares of MGM Resorts, or 37 percent of the company's outstanding shares.
Kerkorian could raise more than $351.4 million through the proposed sale.
Barclays Capital Inc...read moreArticles by Howard Stutz
![]() Analyst downgrades MGM Resorts International12 October 2010 LAS VEGAS, Nevada -- One gaming analyst wasn't buying MGM Resorts International's 15 percent increase in its stock price last Friday and is predicting troubles for the Strip casino giant.
In a research note to investors before trading opened on the New York Stock Exchange Monday, Hudson Securities gaming analyst Robert LaFleur said MGM Resorts one-day price hike was due solely to the positive August casino revenues reported by Nevada gaming regulators.
On the Strip, where MGM Resorts operates 10 hotel-casinos, gaming revenues jumped 21.1 percent in August...read moreArticles by Howard Stutz
![]() Top Harrah's executive in Asia departs11 October 2010 LAS VEGAS, Nevada -- Harrah's Entertainment's top executive in Asia left the company last week, leading some to wonder if the casino operator has given up on its hopes to operate a casino in Macau.
Michael Chen left his position as Harrah's Asia operations president and started a yearlong sabbatical last Friday.
"I was offered a position in Las Vegas at Harrah's which is great but I need some time off and they agreed to it," Chen told Macau Business newsletter at a conference in Singapore.
Chen was responsible for developing of Harrah's business in Asia.
But the company hasn't been successful in gaining a foothold in Asia.
Harrah's lost out on a bid for one of two Singapore casinos in 2006...read more |
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