Featured Articles Archive - Page 437

MGM Mirage invites subcontractors to meeting

LAS VEGAS, Nevada -- Subcontractors caught in the middle of the legal skirmish between MGM Mirage and Perini Building Co. have been invited to a mass meeting with the casino operator to discuss how the companies can settle some $390 million in disputed claims over work on CityCenter.The meeting will take place at 10 a.m...read more

Missouri man the latest to be charged under UIGEA

A 51-year-old Missouri man has been charged with participating in the conduct of a gambling business and conspiracy to launder the proceeds of a gambling business by the U.S. District Court of Maryland.Kenneth Wienski of O'Fallon, Mo., was charged under the Unlawful Internet Gambling Enforcement Act (UIGEA) for transferring money to and from Internet gambling operators to fund player accounts...read more

CityCenter continues to close condo sales

LAS VEGAS, Nevada -- CityCenter continues to close residential sales of its high-rise luxury condominiums, although the pace is not what developer MGM Mirage had originally desired.Through the middle of May, closings have been completed on 125 residential units inside the Mandarin Oriental and Vdara, totaling $118 million in sales, according to statistics compiled by Union Gaming Group.Of the units, 32 are at Mandarin Oriental and 93 are at Vdara, which is a condo-hotel development.The 32 Mandarin units have sold for a collective $67.7 million, which Union Gaming estimated is in excess of $1,000 per square foot.Eight of the Mandarin units had purchase prices above $3 million.At Vdara, the 93 units sold for a total of $50 million.In total, Mandarin has 227 units while Vdara holds 1,495 condo-hotel units...read more

Slot giant IGT takes server-based gaming to Europe

LAS VEGAS, Nevada -- Slot machine giant International Game Technology has rolled out its first European launch of the company's sbX server-based gaming system. The system, which links a casino's slot machines to a central server that allows for better game management, is similar to the system installed last year at Aria and recently at the Monte Carlo, only on a much smaller scale. Reno-based IGT installed the system at the Casino d'Evian in France, which has 300 slot machines and is located on Lake Geneva in an area best known for its local spring water. "We are delighted to be the first casino in Europe to install sbX and plan to take advantage of all that it has to offer," said Eric Perrin, managing director of Casino d'Evian. In addition to Aria and Monte Carlo, IGT has placed the server-based gaming system Ameristar St...read more

European Council needs to look forward, not back

Our attention was caught last week by the outcome of an EU Council 'progress report', though ironically, 'progress' is not the word we'd use if asked to describe the output. Firstly, the report championed the use of financial transaction and ISP blocking in a government's attempts to block illegal gambling sites, which besides being unrealistic and difficult to enforce, ignores the fact that the more barriers you put up, the harder consumers will try to find a way around them. Furthermore, when the legal alternative is so inferior to what is being offered 'illegally', the temptation for consumers to stray into the realms of the black market grows ever greater, and this is exactly the case in Member States where the monopoly provider is so inferior to the banned alternatives. We find it difficult to comprehend that rather than focusing on progression and ways to work together with licensed private operators, certain Member States are ploughing more time and effort into devising ways of keeping them out. The modern EU has no place for protectionist practices...read more

Top-10 players to watch in the WSOP Poker Player's Championship

The 2010 World Series of Poker starts this Friday with the $500 Casino Employees No Limit Hold'em event, and the much anticipated $50,000 Poker Player's Championship.The first four days of the $50,000 event will be played in an eight-game format (Limit Hold'em, Omaha Hi-Low, Razz, Seven Card Stud, Stud Hi-Low, No Limit Hold'em, Pot Limit Omaha, and 2-7 Triple Draw), and on the fifth day for the final table, the format will switch to just No Limit Hold'em.Previously the $50,000 H.O.R.S.E...read more

Looney Rooney off base on gambling stance

LAS VEGAS, Nevada -- After curmudgeon commentator Andy Rooney slammed the casino industry a week ago on the CBS show "60 Minutes," gaming lobbyists took a pass taking him to task for the remarks. I won't. Rooney, who sounded like the crazy uncle relegated to the family basement, reported on the American Gaming Association's annual "State of the States" survey...read more

Governor meets with Perini officials over MGM Mirage dispute

LAS VEGAS, Nevada -- In the simmering rift between casino operator MGM Mirage and general contractor Perini Building Co. over a payment dispute for CityCenter, both sides agreed on one aspect.Officials from the feuding companies want the more than 600 subcontractors and vendors caught in the middle of the legal skirmish to be paid money they are owed for work on the massive $8.5 billion Strip development.Perini recorded a lien on CityCenter's property for $490 million and filed a lawsuit seeking payment...read more

Are alternate place bets at craps as different as they seem?

Craps offers a veritable smorgasbord of alternate bets. The wealth of wagers from which players can pick is both a strength and a weakness. Strength because of the ways bettors can tailor the action to suit their personal preferences. Weakness because the diversity of features can make comparisons confusing. For the majority of solid citizens, though, the essence of the game is remarkably consistent...read more

LV Sands closes $1.75 billion in financing for Macau

LAS VEGAS, Nevada -- Las Vegas Sands Corp. took a step toward restarting the company's Cotai Strip projects in Macau today, announcing it had closed $1.75 billion in project financing through its Chinese subsidiary. Sands China Ltd. will use the funds to complete construction on the combined Shangri-La, Traders, and Sheraton resort complex on Cotai, which will add 6,000 hotel rooms to the region. Company spokesman Ron Reese said preliminary work has already begun. Las Vegas Sands halted construction of its Cotai Strip developments in November 2008 when the company ran into financial difficulties and had restructure its long-term debt...read more