Featured Articles Archive - Page 423

Bernard Lee wraps up whirlwind week

Bernard Lee had quite a schedule last week. The official spokesperson for the Foxwoods World Poker Tour Poker Room, Lee wanted, of course, to be part of the $10,000 buy-in World Poker Finals Main Event. He had a small problem, though, if you can call it that...read more

Gaming stocks rise in October

LAS VEGAS, Nevada -- It wasn't results inside casinos that drove gaming industry stock prices up robustly in October. Plans announced by several companies that are attempting to improve their balance sheets gave investors confidence in the sector as a whole. Nine of the 10 publicly traded casino operators and slot machine manufacturers followed by Las Vegas-based financial consultant Applied Analysis for the firm's gaming index saw their average daily stock prices increase during October, due in large part to announced debt refinancing plans and infusions of capital through stock sales. "For many companies, they are demonstrating that they have moved beyond the impact of the recent recession and are looking with an eye toward the future for balance sheet improvement," Applied Analysis principal Brian Gordon said Friday. The company's gaming index grew by 35 points in October as four casino operators saw double-digit increases in their average daily stock price. Las Vegas Sands recorded the largest increase during the month -- a 20 percent jump in its average daily stock price -- but the company's performance was largely due to its third-quarter earnings...read more

Lucky's to open second downtown Vegas sportsbook

LAS VEGAS, Nevada -- Sports book operator Lucky's will open its second downtown location at Fitzgeralds Casino.The location will mark Lucky's 14th facility in Nevada. Brandywine Bookmaking operates the company, which is headed by Joe Asher.The second downtown location — Lucky's currently runs the race and sports book at the Plaza — is expected to open in January, pending approval of Nevada gaming regulators.Under the agreement, Lucky's and Fitzgeralds will build out a full-service sports book on second floor adjacent to the property's Vue Bar...read more

Mizrachi, eight others ready for November Nine

LAS VEGAS, Nevada -- Some have dubbed Saturday's final table at the World Series of Poker's Main Event as "The Grinder and the Eight Unknowns."Michael Mizrachi, aka "The Grinder," thinks the analysis is a off the mark."This is a tough lineup of players...read more

Deal Me In: That skinny path on the up-and-up

Dear Mark: Since big jackpots seldom hit, when you play a three-reel mega-jackpot progressive like Megabucks, can you really be certain that each reel has the top symbol for the biggest jackpot, and if so, can it be programmed to never land on that symbol? Jenny D.Rest assured, Jenny, that if a combination is listed on the pay table, it has to be possible for you to hit it on that machine, or on any other machines wired together on a network...read more

Two Strip resorts to join InterContinental Hotels' network

LAS VEGAS, Nevada -- Las Vegas Sands Corp. announced a 10-year licensing agreement with IHG, operators of the InterContinental Hotels chain, to list The Venetian and Palazzo within the brand's portfolio.The deal allows the Strip properties to maintain their separate identities, but they become part of the company's Priority Club network, which has a database of 52 million members, according to IHG.Venetian and Palazzo guests will be able to earn points and redeem them for stays at any of IHG's 4,500 hotels worldwide...read more

Harrah's to operate Philadelphia casino development

LAS VEGAS, Nevada -- Harrah's Entertainment is the latest Las Vegas-based casino operator being brought in to try to revive a troubled casino development in Philadelphia. Philadelphia Entertainment and Development Partners struck an agreement with Harrah's to operate a planned $438 million casino in south Philadelphia along the Delaware River. Harrah's spokesman Gary Thompson confirmed Tuesday the company signed a nonbinding agreement with a group of local Philadelphia investors that has been trying to build the casino since 2006. The casino was originally going to be operated by Foxwoods Development Co., which runs the Foxwoods Casino in Connecticut...read more

Wynn Resorts to make more shares public

LAS VEGAS, Nevada -- Wynn Resorts Ltd. filed documentation with federal regulators late Friday to sell an unspecified number of shares in the casino operator. In a shelf registration and prospectus listed with the Securities and Exchange Commission, the company did not reveal how many shares it planned to release to the open market, how much it hoped to raise or what the sales price would be. Shares of Wynn closed at $104.42, up $1.18 or 1.14 percent, Friday in trading on the Nasdaq National Market...read more

WMS lawsuit could affect Bally at G2E

LAS VEGAS, Nevada -- Timing is everything. Still a patent infringement lawsuit between rival slot machine manufacturers is not an earth-shattering story. Much of the gambling equipment sector has spent the past decade in federal courtrooms arguing over intellectual property matters covering casino game technology. But what's unique about a lawsuit filed in U.S...read more

Penn National still pursuing Strip resort

LAS VEGAS, Nevada -- Penn National Gaming executives Thursday said the company's acquisition of the debt covering M Resort does not mean the casino operator is done shopping for a Strip casino.Company officials spent the first portion of their third-quarter conference call with analysts and investors lauding the 19-month-old M Resort "as a terrific property and a compelling opportunity."However, Penn National officials did not reveal many more details about M Resort's future operations, other than commending the Marnell family for their stewardship of the hotel-casino during challenging economic times.Penn National Chief Executive Officer Peter Carlino said company officials have been "in a constructive dialog" with the Marnell family, the equity holder of the 390-room M Resort, "regarding ownership and future operations."The Marnells will continue to operate M Resort in the interim...read more