Featured Articles Archive - Page 435

Israeli police order block of gambling sites

Israeli police have ordered Internet service providers (ISPs) to block access to overseas online gambling Web sites, according to Haaretz.com.ISPs in Israel were provided a list by police of sites and IP addresses to block. It is the first time in Israel that ISPs have been instructed by police to block sites, according to Haaretz...read more

Casino golf resorts buck economic trends

The Coeur d'Alene Tribe doesn't claim to have all the answers. But it does know one thing for sure. The procedures and strategies put in place before the recession at the Coeur d'Alene Casino Resort in Idaho have paid off handsomely.For proof, take a look at Circling Raven Golf Club, the highly acclaimed amenity of the resort whose tee sheet has been filled to near capacity all summer...read more

Station Casinos suffers $69.6 million net loss

LAS VEGAS, Nevada -- Station Casinos suffered a $69.6 million net loss in the second quarter as revenues in the locals gaming market continued to tumble. The company, which took a major step earlier this month toward emerging from bankruptcy with all its properties intact, said Monday the loss for the quarter that ended June 30 was a 6 percent decline compared with a $65.3 million net loss a year ago. Station Casinos' total revenues in the quarter were $233.6 million, a 12.6 percent decrease compared with $267.2 million in the same period a year ago. Gaming analysts have said the Las Vegas locals market, where Station Casinos predominately operates, will have a slower economic recovery than the Strip...read more

Nevada resort might face sale

HENDERSON, Nevada -- The future ownership of the 17-month-old M Resort is unclear after the bank controlling $700 million of the hotel-casino's debt put its stake up for a private auction sale last month.Sources confirmed that Lloyds Banking Group, which includes the Bank of Scotland, had Blackstone Group, a global investment firm, solicit bids for the ownership of the 390-room M Resort...read more

Top-10 things to do in Atlantic City

I was in Atlantic City last weekend with five friends for a bachelor party. It was just my second visit; during the first I had only spent a few hours there. We had a good time entertaining Todd (the man of honor and a regular in the Casino City Home Game), and despite some rather grim reports about the performance of the Atlantic City casinos in recent months, the places we visited were packed with people.Based on my own experience in Atlantic City, here are my top-10 things to do while visiting "America's Playground."10...read more

Analyst questions Harrah's motives for regulatory filing

LAS VEGAS, Nevada -- A regulatory filing by Harrah's Entertainment to publicly list a billionaire investor's 9.9 percent stake in the company could test the waters for the privately-held casino operator's own initial public offering. KDP Investment Advisors bond analyst Barbara Cappaert told clients Harrah's won't receive any financial proceeds from the listing for New York-based hedge fund Paulson & Co., which acquired an interest in Harrah's in exchange for $710 million in debt. The S-1 filing with the Securities and Exchange Commission late Thursday was first thought to be a much-rumored initial public offering by Harrah's, which was taken private two years ago in a $29 billion private equity buyout. "So what does this mean for Harrah's?" Cappaert wrote...read more

MGM Mirage pays more CityCenter subcontractors

LAS VEGAS, Nevada -- CityCenter developer MGM Resorts International has settled overdue payments with 77 of the 233 subcontractors left holding the bag when the casino operator and general contractor Perini Building Co. began trading charges publicly and through court documents over who was to blame for problems with the $8.5 billion Strip project.In a filing with the Clark County District Court on Friday afternoon, MGM Resorts, which owns the massive Strip complex in a 50-50 joint venture with Dubai World, said it had paid $19.1 million to 23 subcontractors who worked on the various CityCenter projects...read more

Station, Boyd feud is real and compelling

LAS VEGAS, Nevada -- The gaming industry is fraught with feuds, real and perceived. For example, Steve Wynn versus Sheldon Adelson or Sheldon Adelson versus anyone who disagrees with him. A dispute between Boyd Gaming Corp. and Station Casinos executives, however, is real. Boyd's attempt to insert itself in Station Casinos' bankruptcy inflamed the situation...read more

Which numbers at craps are better to Buy than Place?

Some craps buffs wager directly on fours, fives, sixes, eights, nines, or 10s. They win if the dice show the selected values and lose on sevens. The makes odds against winning 6-to-3 (2-to-1) on fours or 10s, 6-to-4 (3-to-2) on fives or nines, and 6-to-5 on sixes or eights...read more

Bally Technologies sees net profit increase 54 percent

LAS VEGAS, Nevada -- Slot machine maker Bally Technologies said Thursday its net profit increased 54 percent in the fourth quarter thanks to the sale of its casino in Mississippi.Las Vegas-based Bally said its net income in the three-month period that ended June 30 was $51 million, or 89 cents per share...read more