Featured Articles Archive - Page 432

G2E moving to October starting next year

The Global Gaming Expo (G2E) is changing homes and dates starting in 2011. The gambling industry's largest conference will be moving from the Las Vegas Convention Center in November to the Sands Expo and Convention Center in the first week of October. The calendar shift is permanent, says American Gaming Association President Frank Fahrenkopf. "The show has been happening after companies have submitted annual budgets," Fahrenkopf said...read more

Top-10 things to look for in televised poker shows

The World Series of Poker on ESPN, High Stakes Poker on GSN, and The PokerStars.net Big Game on Fox represent just a fraction of the televised poker menu available to the viewing public. That wasn't true 10 years ago when you had to struggle to find poker on TV...read more

Judge approves Station Casinos reorganization plan

LAS VEGAS, Nevada -- A federal bankruptcy judge in Reno confirmed Station Casinos' plan of reorganization Friday after 90 percent of the company's secured and unsecured creditors signed off on the deal, which will wipe some $4 billion in debt from the company's books. The plan will give creditors an ownership stake in the reconfigured operation, with the Fertitta family remaining in control of the company. The hearing in front of U.S...read more

Atlantic City outlook stays cloudy

ATLANTIC CITY, New Jersey -- Add another nail to Atlantic City's coffin. Table games, which were operational for just part of July at Pennsylvania's nine casinos, brought in more than $17.5 million in gaming revenue during the month. The initial results led gaming analysts to believe that dire days await Atlantic City, where the city's 11 casinos are in direct competition with full-fledged gaming in a neighboring state. With Delaware's racetrack casinos also adding table games, the outlook is not promising. "In our opinion, Atlantic City revenues will continue to be cannibalized by Delaware and Pennsylvania as table games continue to be added and revenues at the properties continue to ramp up," Union Gaming Group principal Bill Lerner said. He estimated that Atlantic City's annual gaming revenues, which were $3.9 billion in 2009, could drop 8 percent to $3.6 billion in 2010. Shawn McCloud, director of analysis for New Jersey-based Spectrum Gaming Group, went a step further, telling the Press of Atlantic City that table games in Pennsylvania's casinos could develop into a $400 million annual market. Atlantic City's 11 casinos now have 1,600 blackjack, roulette, craps and other gaming tables...read more

Gomes optimistic about Resorts Atlantic City

ATLANTIC CITY, New Jersey -- Maybe they should anoint Dennis Gomes mayor of Atlantic City.Clearly, Gomes has way too much exuberance and optimism to handle just the ownership of the city's oldest hotel-casino. The Boardwalk, he said, is poised for an epic turnaround.Gomes, 65, acquired Resorts Casino Hotel last week through his privately held Gomes Gaming Inc.Resorts ushered legalized gaming into Atlantic City more three decades ago...read more

How vulnerable are blackjack dealers with fives- or sixes-up?

Most blackjack buffs breathe a sigh of relief when the dealer pulls a five- or six-up. These are, indeed, the weakest dealer upcards. If nothing else, sophisticated solid citizens know that proper Basic Strategy is to stand against them on any non-paired hard total of 12 or above, waiting out the dealer's actions and not risking a premature bust by hitting a feeble 16 or below. Many bettors, however, start counting their money when they see these cards, then find they have the short end of the stick after the dust finally settles...read more

Cosmopolitan to be part of Marriott's luxury hotels

LAS VEGAS, Nevada -- Operators of the soon-to-open Cosmopolitan of Las Vegas found a 32 million-plus answer to questions surrounding the independent Strip resort's lack of a database.Cosmopolitan operators announced a deal Wednesday with Marriott International to market the $3.9 billion hotel-casino as part of the international lodging chain's Autograph Collection, a portfolio of luxury independent hotels and resorts.The move gives the long-delayed Cosmopolitan access to Marriott's rewards program, considered one of the lodging industry's largest database of customers...read more

Deal Me In: The Standing Committee is called to order

Dear Mark: I am curious as to why casinos do not give you any $10 bills when you cash in a ticket at the cashier cage or the ticket redemption machine. What is their reasoning behind this? Stan P. Being that over 10 percent of all newly printed U.S...read more

Creditors support Station Casinos' reorganization plan

LAS VEGAS, Nevada -- Station Casinos representatives will walk into the U.S. Federal Bankruptcy Court in Reno this morning with support from nearly 90 percent of the company's secured and unsecured creditors for its two-pronged plan of reorganization. Given that Station Casinos needs 65 percent of its creditors to sign off on the reorganization, it might not take Bankruptcy Judge Gregg Zive very long to confirm the plan during the hearing. According to a filing with the bankruptcy court by an independent consultant brought in to tabulate support for the Station Casinos' plan, almost 90 percent of the 17 different classes of secured and unsecured creditors owed more than $6 billion by the company agreed to the reorganization. Last week, company representatives struck an accord with a small group who had opposed the reorganization...read more

Dubai World may sell CityCenter stake

LAS VEGAS, Nevada -- Dubai World, one of the largest investors in MGM Resorts International and a 50 percent owner of CityCenter, may be looking to sell its stake in the casino operator to pay down more than $14.4 billion of bank debt.Both Reuters and Bloomberg News reported that the investment arm of the Persian Gulf emirate believes it could raise up to $19.4 billion over the next eight years by selling assets.Dubai World spent more than $5 billion in 2008 to acquire a 50 percent stake in CityCenter and 5.9 percent of the outstanding shares in MGM Resorts...read more