Featured Articles Archive - Page 417

Golden Gaming OKs deal to manage four casinos

LAS VEGAS, Nevada -- Golden Gaming Group's slot machine route operation division has signed an agreement to manage four casinos for the Siegel Group, including the Gold Spike downtown. The change from United Coin Machine to Golden Gaming signals a more aggressive approach to casino operations, said Siegel Group founder Stephen Siegel...read more

Shuffle Master's third-quarter earnings up 14 percent

LAS VEGAS, Nevada -- The addition of table games to casinos in Delaware, Pennsylvania and the opening of gambling in Singapore, lifted Shuffle Master's third-quarter earnings. The Las Vegas-based gambling equipment provider said Wednesday its net income was $5.8 million, or 11 cents per share, in the three-month period ended July 31, up from net earnings of $5.6 million, or 10 cents per share, a year earlier. Revenue rose 14.2 percent to $51.5 million from $45.1 million. Shuffle Master told investors the sales of automated card shufflers into Delaware and Pennsylvania, which added blackjack and poker tables during June and July, increased 15 percent in the quarter. Shuffle Master said it now has 6,588 shufflers leased to casinos around the world, a 16 percent increase from a year ago...read more

Deal Me In: The price of your free lunch

Dear Mark: In general, how much money has to be gambled to earn enough points for complimentary meals and hotel rooms? I've always gotten vague responses from the casinos and gamblers. Morris R.The reason for the elusive replies, Morris, is because the formula for getting the goodies differs from casino to casino, even between contiguous casinos.For slot players, many of the players' club brochures describe your rewards by points accumulated...read more

Nevada gaming revenues drop 4.9 percent

LAS VEGAS, Nevada -- Nevada gaming revenues fell 4.9 percent in July, the state's fifth consecutive monthly decline in the money casinos collected from gamblers. On the Strip, casino gaming revenues in July all but matched the figure collected in the same month a year ago. The State Gaming Co...read more

ECJ strikes down German gambling restrictions

The European Court of Justice (ECJ), Europe's highest court, ruled Wednesday that German gambling restrictions breach European Union law. The ECJ said in three separate rulings that restrictions that limit sports betting and lotteries to state-run monopolies were "unjustifiable" in Germany because the country had "intensive advertising" of its gambling operations, according to the BBC. "The German rules on sporting bets constitute a restriction on the freedom to provide services and the freedom of establishment," the court said...read more

Casino operators try to beat the burden

LAS VEGAS, Nevada -- With the bankruptcy reorganizations of Station Casinos and Herbst Gaming winding down, analysts and industry observers have turned their focus toward other casino operators. Speculation abounds on whether companies will follow Station and Herbst into filing bankruptcy-court-administered plans of reorganization to wipe cumbersome debt loads off the books and create more manageable businesses. Others believe corporate gaming executives have done enough to restructure long-term debt...read more

Stanley Ho still king in Macau

MACAU -- Macau gaming tycoon Stanley Ho is not licensable in Nevada. The 88-year-old billionaire owns casinos that international law enforcement authorities have said are havens for Chinese organized crime triads. Ho might not even be able to get past the front doors of the Gaming Control Board offices. But in the Chinese gaming enclave, Ho is the kingpin. Despite the emergence of competition from Las Vegas Sands Corp., Wynn Resorts Ltd...read more

Deal Me In: Three speeds – three different results

Dear Mark: I'm confused as to your answer last week to George R. regarding shuffling machines. You stated "What continuous shuffling machines and non-continuous shufflers alike will do is to cause the average player to lose more, simply because more hands are dealt per hour." I always assumed that playing on an automatic shuffling machine was different than continuous shufflers and were OK to play on...read more

Gambling and the Law: Trial in Gibraltar or jail in Ohio

"If we read Ohio law as controlling the contract in question, the parties probably are guilty of a crime under Ohio law, the contract is void, and both parties could be extradited and prosecuted together in an Ohio criminal court." --- Gilbert Stroud Merritt, Jr., Concurring, in Wong v...read more

Top-10 overexposed poker pros

In my last top-10, I profiled the things you should look for in televised poker shows. In this installment of our top-10 series, I go beyond the show itself to look at the individuals who make it on the screen.Whose presence on televised poker shows outshines their performance on the felt? Ladies and gentlemen, your top-10 contenders are …10...read more