Featured Articles Archive - Page 443

Deal Me In: A heap of small advantages has its value

Dear Mark: I don't quite get the theory that if you are a card counter, why you would bet more on a positive count. Doesn't the dealer have the same chances of getting a good hand as you do? Ric K.True, Ric, the likelihood of both you and the dealer getting high cards increases when the count is positive, but your advantage is greater because the rules of the game are not the same for dealer as they are for you.The last I heard, you get paid 1.5 to 1 on a blackjack, yet the casino only wins even money...read more

Right2Bet makes its GPWA debut

We're delighted to have the opportunity to start blogging for the GPWA and APCW. The organization has been a fine supporter of right2bet virtually since inception, with the two of us united in the belief that those who want to gamble safely and securely online, should be able to do so freely, be they in Europe or the US. At right2bet, we're campaigning for the right of all EU citizens to be able to bet with whichever licensed and legal European operator they choose...read more

Boyd files objections to Station reorganization plans

LAS VEGAS, Nevada -- Boyd Gaming Corp., which has been seeking to purchase all or a portion of Station Casinos for the past year, filed objections to its rival's bankruptcy reorganization plans Thursday, saying the proposed concept would diminish the value of certain properties, thus eliminating offers from potential bidders. Boyd is a creditor in the Station Casinos Chapter 11 bankruptcy proceedings through the purchase of some of the casino operator's debt. The company, which operates the Coast Casinos brand, said two plans submitted in the past month by Station Casinos allows members of the Fertitta family and their lenders to "cherry-pick" certain assets while "destroying any opportunity for fair bidding or plan process .....read more

Wynn considers moving company to Macau

LAS VEGAS, Nevada -- Steve Wynn's announcements usually draw lots of raves and praise from Las Vegans, but not this time. Local gaming and government officials instead were expressing skepticism and concern after the Wynn Resorts chairman said on a cable business network Wednesday that he was considering moving his company's corporate headquarters from Las Vegas to Macau. "I would say it's just talk...read more

Gambling and the Law: PartyPoker Bets $105 Million on Return to U.S.

When the founders of PartyPoker decided to take the company public on the London Stock Exchange, they changed its name to PartyGaming, so they could offer gaming beyond their wildly successful online cardroom, PartyPoker.com. The June 2005 Initial Public Offering was, to say the least, successful: investors put a value on the company of $8.46 billion, greater than British Airways. A little over a year later, the conservative Republican leader of the U.S...read more

Regulated online gambling industry would employ thousands and raise billions in U.S.

Licensing and regulating the online gambling industry in the United States would create 32,000 jobs and generate $57.5 billion in tax revenues over the next five years, according to a study released by H2 Gambling Capital Tuesday. The study bolsters the case of Rep...read more

MGM Mirage asks shareholders for name change

LAS VEGAS, Nevada -- MGM Mirage is asking shareholders to allow the company to change its name to MGM Resorts International.But company officials were quick to point out today that the proposed name change does not mean The Mirage is on the market.The Strip casino giant told shareholders the proposed name reflects the company's current vision and future growth...read more

Nevada gaming commissioner won't return to panel

LAS VEGAS, Nevada -- Nevada Gaming Commissioner Radha Chanderraj did not seek reappointment to the five-member, part-time regulatory panel, and Gov. Jim Gibbons will select a successor when her four-year term expires at the end of the month. Chanderraj, a Las Vegas attorney and certified public accountant, is the longest-serving member of the Gaming Commission...read more

Is Steve Wynn casino shopping in St. Louis?

ST. LOUIS, Missouri -- A one-paragraph blog item on the website of the St. Louis Post-Dispatch last week detailed a visit to Pinnacle Entertainment's two properties in the market by Wynn Resorts Chairman Steve Wynn.Wynn and an entourage toured the downtown Lumiere Place and the recently opened River City in suburban St...read more

Group plans bid for Station Casinos

LAS VEGAS, Nevada -- Station Casinos' owners and some of its lenders plan to submit a $772 million opening bid to acquire a majority of the gaming company's assets in bankruptcy court through a newly formed company, according to a statement issued Monday by the gaming company. The proposal, along with a restructuring plan submitted last month, both of which require bankruptcy court approval, would have the company emerging intact from bankruptcy by the end of the year. Station Casinos executives have repeatedly said since filing for Chapter 11 in July that one of its goals was to keep the company whole. In a court filing Monday, Station Casinos said it has reached an agreement with the committee representing 60 percent of the company's OpCo secured debt to make a stalking-horse bid for several properties, including Santa Fe Station, Texas Station, both the Fiestas, and Native American projects. Locals gaming rival Boyd Gaming Corp., which offered $950 million for 14 casinos last year, and then $2.45 billion for the whole company in December, said Monday it is still interested in acquiring some or all of Station's assets. "The press release issued today regarding the OpCo assets contained very little in the way of detail about Station's efforts to reorganize its debt, a process that has now been going on for more than a year," Boyd spokesman Rob Meyne said...read more