Featured Articles Archive - Page 441

Rival's results bode well for Marina Bay Sands

SINGAPORE -- The Singapore subsidiary of Malaysia-based casino operator Genting reported first quarter earnings today but analysts were reading more into the figures than just the raw numbers.They believe the results from Genting's recently opened casino project on Singapore's Sentosa Island gives a glimpse into how Las Vegas Sands Corp.'s Marina Bay Sands is performing.Genting said Resorts World Sentosa, which opened Feb...read more

Garber touches on central themes at GIGSE

MONTREAL -- This year's Global iGaming Summit and Expo (GIGSE) is focusing on how, when and where brick-and-mortar casinos should enter the online gaming market. And Wednesday's keynote address came from one of the few people in the gaming industry that knows exactly what that takes -- Harrah's Interactive Entertainment CEO Mitch Garber.The Montreal resident was speaking in his hometown in the morning session of day two of GIGSE and in a 20-minute speech covered many of the conference's central themes.Garber, a former executive for PartyGaming, said the focal point of his presentation was to get operators and regulators all on the same page."I think the thing we need to focus on is getting rid of the ambiguity and having consistency in the interpretation of laws," he said...read more

Social media a major theme at GIGSE

MONTREAL -- If there's a lesson to learn from the Global iGaming Summit & Expo in Montreal, it's this: The online gaming market is enormous, and it's extremely competitive.That was evident during a presentation made by GPWA Executive Director Michael Corfman, who spoke during the afternoon session of the conference...read more

Online and land-based gambling worlds collide at GIGSE

MONTREAL -- The Global iGaming Summit & Expo (GIGSE) returned Tuesday after a two-year hiatus, gathering online and land-based gambling industry professionals for a "Pre-Conference Workshop" to discuss the future of the industry in North America.The first day of the conference drew a couple nice crowd of industry professionals to the Palais des congrès de Montreal, where delegates listened to an impressive roster of speakers who offered valuable insight into what may be in store in the future for the industry should the United States regulate the Internet gambling market at either the state or federal level.According to Michael Pollack, the managing director of the Spectrum Gaming Group and the chairman of the event, it's not a question of if, but rather when the U.S...read more

Isle of Capri interested in Missouri license

LAS VEGAS, Nevada -- Apparently there is interest in owning the soon-to-be-available St. Louis gaming license that Pinnacle Entertainment is abandoning in July. Some 15 groups and individuals, including regional gaming operator Isle of Capri Casinos, have sent letters of interest to Missouri gaming regulators. Las Vegas-based Pinnacle, which operates two St...read more

What edge does and doesn't tell you about chances of winning

House advantage or edge in casino games is related to the probability solid citizens will win or lose a round. The specific values are occasionally but not usually equal, however. To illustrate, edge on any bet at single-zero roulette is 2.70 percent...read more

Deal Me In: Pennies from heaven line the casino's pocketbook

Dear Mark: What's with all the penny machines? They seem to be everywhere. Where I play, they just took out half the table games and replaced them with penny slots. Paul M.Yes, Paul, penny machines seem to be laying claim to more and more casino real estate...read more

MGM Mirage reports net loss of $96.7 million

LAS VEGAS, Nevada -- MGM Mirage lost $96.7 million in the first quarter, news that was not a surprise to Wall Street after the company pre-announced earnings last month. The casino giant, which operates 10 Strip resorts, said this morning the net loss translated into a loss of 22 cents per share for the quarter that ended March 31...read more

IGT cuts ties with Digideal

RENO, Nevada -- International Game Technology is ending its relationship with electronic table game provider DigiDeal, allowing the smaller company to branch out on its own. The announcement Wednesday unwinds a 2007 transaction that established IGT as majority owner of DigiDeal and gave IGT exclusive rights to manufacture and distribute DigiDeal table games globally. Under the new manufacturing and distribution agreement, DigiDeal, which is based in Spokane, Wash., will now sell its products direct to customers. Within the next few months, the manufacturing and distribution agreement between the companies will be terminated and IGT will no longer hold an equity interest in DigiDeal. "We've had the benefit of working closely with IGT over the last three years, which has allowed us to mature as game designers and developers," DigiDeal Chief Executive Officer Michael Kuhn said in a statement...read more

MGM Mirage hopes for quick resolution to CityCenter feud

LAS VEGAS, Nevada -- While MGM Mirage isn't planning to publicly try its dispute with Perini Building Co. over payment of $500 million in CityCenter construction costs, company Chairman and Chief Executive Officer Jim Murren doesn't want to lose the perception battle either.Murren, during MGM Mirage's first-quarter earnings conference call with analysts and investors Thursday, briefly said he hopes the matter will be handled quickly in Clark County District Court.After the call, Murren said he understands MGM Mirage is facing the brunt of the criticism over the disputed payments, which has left dozens of small contractors and firms on the short end.Many of the firms not being paid are minority- or women-owned businesses that were brought into the CityCenter project by MGM Mirage as part of the company's diversity hiring program...read more