CasinoCityTimes.com

Home
Gaming Strategy
Featured Stories
News
Newsletter
Legal News Financial News Casino Opening and Remodeling News Gaming Industry Executives Subscribe
Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter!
Our Strategy Experts
Gaming News
Casino City Times has the latest International Gaming News.

Featured Articles Archive - Page 452

  • Latest Articles     4511 - 4520

 
Articles by Howard Stutz

N.J. says Asian casino boss has mob ties

18 March 2010
LAS VEGAS, Nevada -- Nevada's top gaming regulator defended his agency's 3-year-old approval of MGM Mirage's business partner in Macau despite Wednesday's finding by his New Jersey counterparts that Hong Kong businesswoman Pansy Ho was unsuitable and under the influence of her Asian casino magnate father, who has extensive ties to Chinese organized crime triads. Gaming Control Board Chairman Dennis Neilander said Wednesday there were "sufficient" protections in the joint venture documents governing MGM Mirage's and Pansy Ho's 50-50 ownership of the MGM Grand Macau to keep a third party from influencing the operation. New Jersey's suspicions led MGM Mirage to agree last week to sell its half of Atlantic City's top casino, rather than abandon the lucrative Chinese market. Under Nevada's Foreign Gaming Act, regulators need to determine if a business relationship would be detrimental or damage the reputation of the state...read more
 
Articles by Howard Stutz

Macau may take back land promised to casino operators

17 March 2010
LAS VEGAS, Nevada -- Four of Nevada's top casino companies -- Las Vegas Sands Corp., Wynn Resorts Ltd., MGM Mirage and Harrah's Entertainment -- could be hurt by a move made Tuesday by Macau's top leader. Macau Chief Executive Fernando Chui said the Special Administrative Region of China may seek to reclaim land promised to casino operators, with the sites being used for other development purposes. Chui, who has been on the job for less than three months, made a public-policy speech and commented to the media...read more
 
Articles by Howard Stutz

Macau curtailing new casino construction

16 March 2010
MACAU -- Macau will continue to regulate the number of casinos constructed in the Special Administrative Region of China. Macau Chief Executive Fernando Chui, in a public policy address Tuesday, said the entity would only allow new casinos to be built as long as construction plans had already been approved. For some casino development projects, the government may seek to repeal the land from operators that have not submitted specific project plans. "Apart from those we have agreed in principle in the past, in construction and those already approved, we will regulate (the building of new casinos) in the future," Chui said at a news conference. Macquarie Securities gaming analyst Gary Pinge, who is based in Hong Kong, told investors the Macau government may use repossessed land to build smaller sized residential developments targeted at mid to lower end of the property market. "Other than those casino developments already approved, any further applications for casinos will be tightly controlled," Pinge said in a research note...read more
 
Articles by Gary  Trask
Articles by Gary Trask

Top-10 reasons to visit the M Resort in Las Vegas

15 March 2010
LAS VEGAS -- Making a list of New Year's resolutions is easy. Actually completing your list is where the difficulty usually comes in. But thanks to a trip to Las Vegas last week, I managed to knock off one of my 2010 "To-Do" items when I spent two nights at the M Resort. Back in January, the Casino City editorial team -- consisting of Vin Narayanan, Dan Igo and myself -- compiled our list of Must Visit Casinos in 2010...read more
 
Articles by Howard Stutz

Contractor plans liens against CityCenter owners

15 March 2010
LAS VEGAS, Nevada -- MGM Mirage and Perini Building Co. are disputing payment of almost $500 million from the total construction budget of $8.5 billion for the CityCenter development. In a filing Friday with the Securities and Exchange Commission, the casino operator said the project's primary contractor intends to file mechanic's liens to collect on $492 million in construction bills. In the filing, MGM Mirage and Dubai World, its 50-50 joint venture partner in CityCenter, said the amount owed is far less, primarily due to construction defects that halted building of the Harmon Hotel. The Harmon tower was delayed and reduced in size because county officials said reinforcing steel wasn't spaced at intervals to support it as designed. "While CityCenter's investigation into the general contractor's potential liability regarding the Harmon Hotel is continuing, there can be no assurance at this point as to the ultimate outcome of any action CityCenter may undertake," according to a company statement in the SEC filing. MGM Mirage said the amount being claimed against Perini may exceed the amount of CityCenter's estimated remaining liability to the general contractor. A message left with Perini Building Co...read more
 
Articles by Howard Stutz

Pinnacle Entertainment names new CEO

15 March 2010
LAS VEGAS, Nevada -- Former Harrah's Entertainment executive Anthony Sanfilippo has been named president and chief executive officer of regional casino operator Pinnacle Entertainment, the company announced Monday. Sanfilippo, 51, replaces interim CEO John Giovenco, who had been operating the Las Vegas-based company since November...read more
 
Articles by Howard Stutz

MGM Mirage to sell stake in Borgata

12 March 2010
ATLANTIC CITY, New Jersey -- Gaming analysts believe MGM Mirage's 50 percent stake in Atlantic City's Borgata could fetch between $400 million and $500 million when the company goes to sell its portion of the casino over the next 18 months. Market conditions, however, could drive down the price. The casino operator announced Friday it reached a settlement with New Jersey gaming regulators over its relationship with Hong Kong businesswoman Pansy Ho, MGM Mirage's joint venture partner in Macau...read more
 
Articles by Howard Stutz

Nevada may clamp relationships between casinos and Net

12 March 2010
LAS VEGAS, Nevada -- Nevada gaming regulators may clamp down on contractual relationships between the state's casino operators and nongambling arms of the Internet gaming industry. The move, which the Gaming Control Board is exploring, could shut off revenue streams for the World Series of Poker and other similar events. Several years ago, the World Series Poker, which is owned by Harrah's Entertainment, set self-imposed guidelines prohibiting online gamblers from qualifying to the tournament through the Internet...read more
 
Articles by Howard Stutz

Shuffle Master reverses net loss

12 March 2010
LAS VEGAS, Nevada -- Gaming equipment provider Shuffle Master reversed a quarterly net loss from a year ago but disappointed analysts who expected stronger profits. The Las Vegas-based company, which provides casinos with table games and casino management equipment, said Thursday its net income was $3.7 million, or 7 cents a share, in the first quarter ended Jan...read more
 
Articles by Mark  Pilarski
Articles by Mark Pilarski

Deal Me In: A negative-expectation game like craps can't be beat

12 March 2010
Dear Mark: Some time ago, you mentioned a bet on the craps table that I had never heard of. It seemed like a "no lose" proposition. Could you explain what it was? Frank H. If your question really means, is there any absolute way of beating the game of craps, the answer is, yes, DON'T PLAY...read more

< More Recent Articles | Past Articles >
 
SEARCH ARTICLES:
Search Our Archive of Gaming Articles 
Top 10 Vendors