Featured Articles Archive - Page 436

Macau is booming and Vegas is glooming

LAS VEGAS, Nevada -- So what did this round of quarterly earnings reports tell us about the gaming industry's health? Macau is booming and Atlantic City is dying. The Strip has too many hotel rooms but there are slight signs of recovery...read more

Miami group envisions $2 billion Vegas product

LAS VEGAS, Nevada -- The Miami-based Peebles Corp. has acquired a majority stake in a small hotel-casino on Paradise Road that gives the company some 20 acres for future development near the Las Vegas Convention Center.R. Donahue Peebles, the chief executive officer of Peebles Corp., said the site will eventually house the Las Palmas Resort & Casino, a planned $2 billion project.But Peebles, whose business is considered one of the nation's largest African-American real estate development companies, said the project is on hold until the Las Vegas market is ready for new hotel-casinos."We have an extremely positive outlook on this market and are confident in the long-term future of Las Vegas," Peebles said...read more

Everything you really want to know about splitting nines in blackjack

Everything most blackjack buffs want to know about playing pairs of nines can be stated in a single sentence. Split 'em against a dealer's two through six, eight, or nine; otherwise stand. Players with enquiring minds, who want to know, might be interested in delving deeper, however...read more

Boyd Gaming sees second quarter profits plunge

LAS VEGAS, Nevada -- Boyd Gaming Corp. executives weren't taking the bait. With the Las Vegas-based casino operator dropping out of Friday's planned bankruptcy court auction of several Station Casinos' properties, Wall Street speculated on the next potential acquisition target for the Las Vegas-based casino operator. But company leaders didn't go along. Boyd Gaming had just explained Tuesday how the recession left consumers skittish, causing the company's second-quarter profits to fall 73 percent, when the questions started. Union Gaming Group Principal Bill Lerner asked point blank if Boyd Gaming had participated in a rumored privately held bank-back auction of M Resort...read more

MGM reports $883 million net loss

LAS VEGAS, Nevada -- CityCenter continued to be a drain on MGM Resorts International.The Las Vegas-based casino giant said this morning its second quarter net loss was $883 million, or $2 a share, compared to a loss of $212 million, or 60 cents, in the same three-month period a year ago...read more

Massachusetts gambling bill in limbo

BOSTON, Massachusetts -- The debate in Massachusetts over legalizing casinos has turned into an old fashioned game of political football. The state's house and senate approved a bill over the weekend that would allow for three casinos and two slot machine parlors. However, Gov...read more

Top-10 hurdles facing U.S. online gambling legislation

10. Moralists The universe of people in the United States who oppose gambling on moral grounds is shrinking. In 2009, 37 states had some form of legalized gambling (excluding lotteries) according to the American Gaming Association's 2010 State of the States report...read more

Shares of gaming companies dive in July

LAS VEGAS, Nevada -- The gaming industry might want to forget about July. The average daily stock prices of casino operators and slot machine manufacturers all tumbled during the month with seven of the 10 companies followed by Las Vegas-based financial consultant Applied Analysis showing double-digit declines. Las Vegas Sands Corp...read more

Is reversing Atlantic City's fate possible?

ATLANTIC CITY, New Jersey -- New Jersey Gov. Chris Christie has proposed a slate of reforms to revitalize Atlantic City.One idea is a state takeover of Atlantic City's gaming and tourism district, removing the Boardwalk and adjoining areas from city stewardship...read more

Which is preferable, big bets or small?

Say you want to win big at a casino, starting with a bankroll you consider realistic. Assume you're willing to go for broke, bag the bonanza or bust out trying. There are two basic approaches. You can strike it rich betting low at games with high payoffs, like the slots or tables with bonus side action...read more