Featured Articles Archive - Page 471

New York ties helped Navegante win Aqueduct deal

QUEENS, New York -- Longtime gaming executive Larry Woolf said there's a simple explanation why a partnership that includes his Navegante Group won the right to operate a potentially lucrative casino at New York City's Aqueduct Race Track. Except for Woolf's Las Vegas-based casino management company, all of the members of the eight-partner Aqueduct Entertainment Group were headquartered in New York. "In the end, we spent time in the community and the partners understood New York," Woolf said Monday. On Friday, New York Gov...read more

Top-10 Super Bowl betting facts and figures

History was never one of my favorite subjects in school. But one thing I've learned over the years as a sports bettor is that you have to consider what has happened in the past if you want to try and predict the future. No, past results don't always repeat themselves in the NFL, or any other sports league for that matter...read more

Effel adds flair to flourishing tournament

LAS VEGAS, Nevada -- The World Series of Poker has allowed Jack Effel to live out a lifelong ambition. Growing up in Dallas, Effel wanted to become an announcer or broadcaster. As a teenager, he would carry around a tape recorder, play his favorite songs and add commentary. "I always said I was going get into radio or television," Effel said. Instead, Effel got into poker. As tournament director of the World Series of Poker, it's Effel's responsibility to give the audience and players running commentary as to what's happening at an event's final table...read more

Northern Nevada's woes likely to expand

LAS VEGAS, Nevada -- Expansion plans by an Indian casino near Sacramento, Calif., signal another bad omen for Northern Nevada's beleaguered gaming market. Casino revenues in Reno and the Lake Tahoe area have been decimated for almost three years...read more

Gaming stocks see a January jolt

LAS VEGAS, Nevada -- Gaming stocks started off the year with a bounce as investors anticipated fourth-quarter earnings and casino watchers tried to gauge the impact of the recently opened CityCenter on Las Vegas. On a whole, seven of the 10 publicly traded casino operators and slot machine manufacturers charted by Las Vegas-based financial consultant Applied Analysis saw an increase in their average daily stock price during January compared with December. MGM Mirage had the largest increase, almost 15 percent...read more

Navegante Group wins Aqueduct bidding

QUEENS, New York -- A partnership that includes the Las Vegas-based Navegante Group won a prolonged bidding process Friday and was selected to build and operate a potentially lucrative casino at the Aqueduct Race Track in New York City. New York Gov...read more

Delaware approves table games for racetrack casinos

DOVER, Delaware -- Delaware's governor didn't waste any time signing into law a bill that allows the state's three racetrack casinos to add table games. State lawmakers approved the legislation Thursday afternoon and Gov. Jack Markell added his signature that evening. A spokesman for the governor thought table games could be in place by summer at Delaware Park, Dover Downs and Harrington Raceway, which currently only offer slot machines. Following Pennsylvania's legalization of table games earlier this month, Delaware's approval was not good news to Atlantic City. One gaming analyst told the Press of Atlantic City newspaper that Delaware and Pennsylvania could combine to drive down the Boardwalk's table game revenue by as much as 15 percent. However, he said that the revenue decline likely won't be as large because of the scheduled 2011 grand opening of the $2.5 billion Revel casino in Atlantic City and an expected uptick in the regional economy. "Atlantic City gets hit both by Pennsylvania and Delaware because they sit within the heart of our feeder markets," said Cory H...read more

Brugnara pleads guilty to filing false tax returns

LAS VEGAS, Nevada -- San Francisco real estate developer and failed Nevada gaming applicant Luke Brugnara, who emerged as a bidder for the bankrupt Fontainebleau this month, has pleaded guilty in federal court to filing false tax returns. Brugnara, 46, said he was willing to pay $200 million for the Fontainebleau despite having been denied a Nevada gaming license in 2001...read more

Bankruptcy exit near for Herbst Gaming

LAS VEGAS, Nevada -- Herbst Gaming will emerge from bankruptcy next week but it may take up to a year to determine the makeup of the Las Vegas-based casino company and slot machine route operator. In a filing with the Securities and Exchange Commission Thursday, Herbst Gaming said its Final Plan of Reorganization, which was approved by the U.S...read more

N.Y. council members endorse MGM Mirage Aqueduct bid

LAS VEGAS, Nevada -- The selection of casino operator for New York City's Aqueduct Race Track has dragged on for almost a year. Now, the three New York City Council members who represent the Southeast Queens Community where Aqueduct is located have weighed in on the matter. Deputy Majority Leader Leroy Comrie, Civil Service & Labor Committee Chairman James Sanders Jr...read more