Featured Articles Archive - Page 418

Positive developments at Pearl River

CHOCTAW, Mississippi -- With the economy continuing its strangle hold on America and the casino industry severely in recession for over two years, positive news is hard to come by and thus it nice to report that the light at the end of the tunnel in Choctaw is not a train but an active and aggressive program of development. Miko (Chief) Beasley Denson, in his column in the News, credits the administration and leadership at Pearl River Resort for streamlining operations early, and pursuit of increased efficiency that allowed continuing payments against debt that and thus keep stabilization a reality. Now two programs are moving forward quickly to take the Resort to the next level: the conversion of the Golden Moon Casino floor into the Golden Moon event center and the construction of the satellite Bok Homa casino on tribal land in Jones County near Hattiesburg. The new event center that will seat over 4,500 is expected to be complete by new Year's eve and will be the largest event center in the region...read more

Isle of Capri Casinos wins 13th Missouri license

ST. LOUIS, Missouri -- Missouri gaming regulators this morning unanimously approved plans by Isle of Capri Casinos to build a casino in downtown Cape Girardeau in the southeastern part of the state. The move ends speculation over control of the state's 13th gaming license, which was returned to the Missouri Gaming Commission last summer by Pinnacle Entertainment when the company closed an aging riverboat casino in downtown St...read more

Macau gaming revenues jump 42 percent

MACAO -- Macau gaming revenues grew 42 percent during November, boosting the prospects for Nevada gaming companies operating in China. The Macau Gaming Inspection and Coordination Bureau said this morning the region's casinos collected $2.13 billion in gaming revenues during the month, the second highest month ever. Analysts thought the numbers benefited Las Vegas Sands Corp., which operates the Venetian Macau and Sands Macau, and Wynn Resorts Ltd., which owns Wynn Macau and Encore. "We believe these results are above expectations and confirm our belief that Macau gaming revenues will continue to be strong throughout 2010 from a year-over-year growth perspective, despite a modest cooling of the Chinese economy," Jefferies & Co...read more

MGM executives travel to Vietnam

LAS VEGAS, Nevada -- MGM Resorts International Chairman and Chief Executive Officer Jim Murren led a delegation of consultations, designers and construction teams to Vietnam recently to visit the site of the future MGM Grand Ho Tram.The planned project, scheduled to open in 2013, is part of a $4.2 ...read more

Nevada's Buffalo Bill's closed until Christmas Eve

LAS VEGAS, Nevada -- Herbst Gaming closed Buffalo Bill's in Primm until Christmas Eve while the company renovates the property's 1,242 rooms and portions of the casino.Only the concert series at the Star of the Desert Arena remains open.Hotel guests with reservations will be moved to the company's two other Primm resorts, Whiskey Pete's or Primm Valley.The three resorts at the California-Nevada border at Interstate 15 operate 2,643 hotel rooms.Some 250 employees who work at the three properties will be affected...read more

Deal Me In: The only game in town

Dear Mark: I know that with strict adherence to basic strategy and a 3/2 payout for blackjack, you can cut the house edge to 0.5 percent. Assuming that I continue to use "perfect" basic strategy, what does the house edge shift to when the blackjack payout is only 6/5? We're going on a cruise, and I've read that this is "the only game in town." Walt I...read more

Should you flout Basic Strategy in blackjack – and, if so, when and why?

Even blackjack players who are a mite shaky on the fine points of Basic Strategy know "you're supposed to" double on an 11 facing anything except an ace, and on a 10 against anything but an ace or 10. The reason has to do with what the gurus call "expectation." Whichever option on a hand gives a bettor the greatest positive or the least negative expectation determines the rule. Expectation is a statistical term involving probabilities of alternate draws by players and dealers, chances of those draws leading to triumph or tragedy, and the corresponding amounts...read more

Eastgate bracelet sells for $147,500

LAS VEGAS, Nevada -- The gold and diamond championship bracelet put up for auction on eBay by 2008 World Series of Poker winner Peter Eastgate sold for $147,500.The auction attracted 116 bids. The buyer was not disclosed.Eastgate said all proceeds from sale of the bracelet would be donated to the U.S...read more

Pinnacle Entertainment buys Ohio racetrack

LAS VEGAS, Nevada -- Las Vegas-base Pinnacle Entertainment acquired a racetrack in Ohio last week for $45 million on the hopes the state moves forward with plans to legalize slot machine-like video lottery terminals.The regional casino operator bought the River Down Racetrack, which is in the Cincinnati area.Ohio's outgoing governor had proposed allowing the state's racetracks to operate up to 17,500 VLTs...read more

Isle of Capri front-runner for Missouri license

ST. LOUIS, Missouri -- Isle of Capri Casinos, which has been exploring a Las Vegas casino purchase, appears on track to acquire Missouri's 13th and final gaming license. The Missouri Gaming Commission released an economic impact study that seemed to favor St...read more