Featured Articles Archive - Page 436

Casino industry outlook still uncertain

LAS VEGAS, Nevada -- Double-digit declines in monthly state gaming revenues have dissipated in the first half of 2010, but a national credit and bond rating service isn't ready to say the financial health of the American casino industry is on the path to recovery. In a report on U.S...read more

Wynn slams Obama adminstration again

LAS VEGAS, Nevada -- "Steve Wynn the Political Pundit" resurfaced Thursday. During the Wynn Resorts Ltd. second quarter earnings conference call, company chairman Steve Wynn said he isn't thrilled with the current direction of the U.S. economy. Wynn has been the gaming industry's most vocal critic of President Barack Obama and his administration's policies for much of the past year. "The national economy and the political environment in the country as we head up to the elections (are) very, very touchy...read more

PartyGaming and bwin announce merger

After months of speculation, bwin and PartyGaming have announced that they will merge to form the world's largest publicly traded online gambling company.Bloomberg News valued the deal at $1.76 billion.The combined entity will be owned by PartyGaming and bwin shareholders, with PartyGaming shares equaling 48.4 percent of the company and bwin shares equaling 51.6 percent of the company.The two companies have always been seen as a natural fit, with bwin's strong sportsbook fitting in nicely with PartyGaming's strong poker and casino offerings.The newly merged company will be incorporated in Gibraltar and run by bwin co-CEO Norbert Teufelberger and PartyGaming CEO Jim Ryan.The merger will have to be approved by 75 percent of both bwin and PartyGaming shareholders at shareholder meetings in the first quarter of 2011...read more

What's next for Frank's Internet gambling bill?

Now that Rep. Barney Frank's bill to license and regulate online gambling in the U.S. has been passed by the committee he chairs, the House Financial Services Committees, all sorts of questions are swirling around about what's actually in the bill, and what the future holds for the bill...read more

Online gambling regulations bill approved by House committee

In a 41-22-1 vote, the House Financial Services Committee approved a bill Wednesday that would license and regulate online gambling in the United States. The decisive vote is a sign of a how far the Democratic Congress has come since Committee Chairman Barney Frank (D-Mass.) attempted to halt the implementation of the Unlawful Internet Gambling Enforcement Act in 2008...read more

81 sites sued for copyright infringement

Copyright infringement suits involving content from the Las Vegas Review-Journal have been filed against at least 81 Web site owners and organizations over the last 11 weeks, according to multiple reports by the Las Vegas Sun. A GPWA review of the lawsuits shows at least nine of those involved are online gambling affiliate sites. According to Wired.com and Reason.com, the Las Vegas-based firm Righthaven is acquiring copyrights to newspaper content and then tracking down sites that are infringing on its copyrighted material...read more

Las Vegas Sands narrows second quarter net loss

LAS VEGAS, Nevada -- Booming business in Macau helped Las Vegas Sands Corp. shrink its second quarter net loss, the casino operator said this morning. For the three months that ended June 30, Las Vegas Sands said it lost $4.7 million, or 1 cent per share...read more

IGT profits grow despite revenue dip

RENO, Nevada -- A favorable tax benefit adjustment and slot machine sales into international markets drove gambling equipment giant International Game Technology to a rise in fiscal third-quarter profits despite a decline in company revenues. Reno-based IGT said Tuesday its net income for the quarter that ended June 30 was $94.6 million, or 32 cents per share...read more

Borgata sees revenue, profit decline

ATLANTIC CITY, New Jersey -- Boyd Gaming Corp. said Monday its Borgata resort in Atlantic City saw revenues and profits decline during the second quarter because of reduced visitation and competition from casinos in neighboring states.In a statement filed with the Securities and Exchange Commission, Boyd Gaming said the Borgata, which it owns in a 50-50 joint venture with MGM Resorts International, had a net income of $17.3 million in the second quarter that ended June 30, down from $18.3 million a year ago...read more

Top-10 moments from the WSOP Main Event

Casino City's Dan Igo, Vin Narayanan and Aaron Todd have finally recovered from their time in Las Vegas covering the World Series of Poker's Main Event. With a week to reflect on what they saw, they present a tag-team effort for the top-10 moments from this year's Main Event, from all four Day 1s to the determination of the November Nine.10...read more

Top-10 moments from the WSOP Main Event

Casino City's Dan Igo, Vin Narayanan and Aaron Todd have finally recovered from their time in Las Vegas covering the World Series of Poker's Main Event. With a week to reflect on what they saw, they present a tag-team effort for the top-10 moments from this year's Main Event, from all four Day 1s to the determination of the November Nine.10...read more

Top-10 moments from the WSOP Main Event

Casino City's Dan Igo, Vin Narayanan and Aaron Todd have finally recovered from their time in Las Vegas covering the World Series of Poker's Main Event. With a week to reflect on what they saw, they present a tag-team effort for the top-10 moments from this year's Main Event, from all four Day 1s to the determination of the November Nine.10...read more