Featured Articles Archive - Page 471

First CityCenter property opens on Strip

LAS VEGAS, Nevada -- And so it begins. When the nearly 1,500-room nongaming Vdara hotel welcomes its first paying customers late tonight, the $8.5 billion CityCenter development moves into its operation mode. Finally. The Strip project will open in phases this month after more than five years of development and construction...read more

Top-10 poker pros who would not make a good WSOP commissioner

Last week we decided to have some fun and pick 10 poker professionals who we thought would make a good commissioner for the WSOP now that Jeffrey Pollack has stepped down. We realize that the WSOP has stated that it doesn't plan on replacing Pollack...read more

Questions surround WSOP after Pollack's exit

LAS VEGAS, Nevada -- World Series of Poker Commissioner Jeffrey Pollack said he wanted to explore new challenges when he resigned this month after four successful years at the helm of the tournament. Some wondered whether a high-stakes bluff was being played out. It seemed strange that Pollack, 45, would depart following the World Series of Poker's second-most lucrative event in its 40-year history...read more

CityCenter ready for debut after months of headlines

LAS VEGAS, Nevada -- In the 61 months between the announcement MGM Mirage was creating an urban metropolis on the Strip called Project CityCenter and Tuesday's planned opening of its first hotel, Vdara, the $8.5 billion development seemed to be on constant life support. Almost as soon as MGM Mirage imploded the shuttered Boardwalk casino on May 9, 2006, to clear a major portion of the CityCenter site, the project seemed to be shrouded in bad news. The recession, which led to the collapse of the credit markets, and other outside financial factors nearly derailed CityCenter, which saw its budget more than double beyond the initially announced $3 billion to $4 billion. The project came within hours of filing bankruptcy at the end of March, which would have halted construction and shelved the jobs of 8,500 construction workers...read more

Las Vegas Sands raises $5 billion for Macau

LAS VEGAS, Nevada -- Las Vegas Sands Corp. said today it raised $5 billion in debt and equity financing in Asia and will use a portion of the proceeds to restart and complete construction of resort and casino complex on Macau's Cotai Strip. In a statement, the company said it listed 30 percent of its Macau holdings on the Hong Kong Stock Exchange in an initial public offering that raised $2.5 billion, as well as $600 million in pre-IPO financing. Shares of the company, which began trading Monday morning in Hong Kong, tumbled 10.2 percent after Dubai World's possible default hurt investor confidence. Las Vegas Sands said it would use $500 million of the IPO proceeds, along with $1.75 billion in project financing, to complete the Cotai Strip site near the Venetian Macau that will house the combined Shangri-La, Traders, and Sheraton resort complex. "Our ability to add more properties to the Cotai Strip will enhance visitation from all parts of the Asia-Pacific region and significantly increase the overall length-of-stay in Macau," Las Vegas Sands Chairman and Chief Executive Officer Sheldon Adelson said in a statement. Construction of the 13.3 million square foot complex was halted a year ago when financing dried up and Las Vegas Sands ran into financial difficulties nearly having to file bankruptcy...read more

Why playing multiple spots at blackjack differs from playing one

Blackjack buffs who wager on multiple spots experience the game differently from solid citizens who bet on single hands. With the same total exposure, the erosive effect the of edge on each round doesn't change. It's the volatility that varies...read more

Deal Me In: Reader eyewear required

Dear Mark: I've never seen this question answered regarding this winning hand in video poker, so possibly you could indulge my curiosity. Say for instance I have the following hand: Three fours and a pair of queens. I realize I have a full house, but why wouldn't I get paid separately for the three fours and the pair of queens? Bruce D. With reading glasses in hand, Bruce, you'll notice that somewhere in fine print on the face of the machine it most likely says something along these lines: "Pays only highest combination." Yes, occasionally you will come across a specialty game like Multi-Pay Poker that will reward you additionally for the trips and the jacks or better, but with almost every other machine out there, a hand that includes a grouping of more than one winning hand is paid only the highest-winning combination. Dear Mark: When playing video poker, when are the draw cards actually dealt? Immediately, and then placed behind the initial draw cards, or do they come off the top of the deck? It seems I've seen it described by experts both ways...read more

Frank schedules online gambling hearing for Dec. 3

Rep. Barney Frank (D-Mass.) has scheduled a hearing on Dec. 3 before the House Financial Services Committee to hear testimony on repealing the Unlawful Internet Gambling Enforcement Act and creating a regulated online gaming industry in the U.S...read more

Randall Sayre named Gaming Regulator of the Year

LAS VEGAS, Nevada -- Gaming Control Board member Randall Sayre has been named Gaming Regulator of the Year by the International Masters of Gaming Law. Robert Stocker II, a Michigan gaming attorney who is the group's president, said Sayre, who was appointed to the control board in 2007 by Gov...read more

Station Casinos rewards loyal customers

LAS VEGAS, Nevada -- Casino companies have seen loyal customers remain loyal, even through the worst-ever recession to strike the gaming industry. Station Casinos, zapped hardest of all the locals casino operators, wanted to do something special for its die-hard, high-end followers. Company executives realize promotions, marketing and rewards programs need to be targeted toward devoted players as Station Casinos weaves its way through Chapter 11 bankruptcy protection and reorganizes its debt structure. The company put together a special VIP weekend celebration earlier this month at Red Rock Resort, bringing together 250 high-end customers from every Station Casinos property...read more