Featured Articles Archive - Page 471

Vegas visitor tally rises once again

LAS VEGAS, Nevada -- More people have visited Las Vegas for four months in a row, spreading optimism through the offices of the Las Vegas Convention and Visitors Authority. But it is cautious optimism, Kevin Bagger, the authority's senior director of marketing, was quick to point out Tuesday. Las Vegas visitor volume fell 3 percent in 2009, with almost 36.4 million tourists coming to Southern Nevada...read more

MGM Mirage exec appointed to Shuffle Master board

LAS VEGAS, Nevada -- Former MGM Mirage executive Dan Wade has been appointed to the board of directors of Las Vegas-based gambling equipment provider Shuffle Master Gaming. Wade spent 37 years in the gaming industry and held various executive positions with MGM Mirage for 16 years, i...read more

Top-10 suggestions for Atlantic City

Atlantic City's casino and tourism industry is under assault. In the past few weeks, Pennsylvania and Delaware have added table games to their casinos, giving two Atlantic City feeder markets casinos that can compete directly with the Boardwalk...read more

Bethlehem wants Las Vegas Sands hotel timeline

BETHLEHEM, Pennsylvania -- The mayor of Bethlehem, Pa., wants Las Vegas Sands Corp. to set a construction timeline for the Sands Bethlehem's stalled hotel, mall and conference center. Mayor John Callahan asked the Pennsylvania Gaming Control Board to make the timeline part of the cas...read more

MGM to divest from Atlantic City

ATLANTIC CITY, New Jersey -- MGM Mirage announced this morning it will divest itself from its holdings in Atlantic City by placing its 50 percent ownership stake in the Borgata resort and its vacant land holdings into a trust arrangement. The move will allow MGM Mirage to sell its stake in the casino, which the company owns in a joint venture agreement with Boyd Gaming Corp. Last year, New Jersey gaming regulators ruled that Hong Kong businesswoman Pansy Ho, company's joint venture partner in Macau, was unsuitable...read more

Pinnacle to sell Atlantic City site

LAS VEGAS, Nevada -- Regional casino operator Pinnacle Entertainment is putting its vacant 19-acre Atlantic City Boardwalk casino site on the market and may look at selling other nonrevenue-producing assets. The Las Vegas-based company, which doesn't operate a casino in Southern Nevada, is also exploring additional cost-saving measures after reporting a $242 million net loss in the fourth quarter Friday. Pinnacle interim Chief Executive Officer John Giovenco said it would take about $3 billion to build a viable project in Atlantic City, where competition from gambling in nearby states and the sour economy have torpedoed gaming revenues in the market over the last two years. "That's not our cup of tea...read more

Deal Me In: Naval names for table games

Dear Mark: I play a little craps and have noticed recently that in some casinos the tables have different sizes. Is there some house edge being worked here or is it just to allow more players around a table? Jack M. Casinos offer various dimensions of crap tables, Jack, but no specific size will affect the casino's built-in advantage on any particular bet...read more

Penn National maintains interest in Strip property

LAS VEGAS, Nevada -- Penn National Gaming officials spent a small portion of the company's fourth-quarter earnings conference call Thursday giving analysts a tour of the Strip. But the regional casino and racetrack operator wasn't willing to tip its hand on where it might land. The Wyomissing, Pa.-based company, which made a short-lived, lowball bid for the bankrupt Fontainebleau project last year, still is interested in operating a Strip hotel-casino. "We'll continue to look for the right opportunities in Las Vegas," Penn National Chairman and Chief Executive Officer Peter Carlino said...read more

Slot casino at Aqueduct racetrack moving ahead

QUEENS, New York -- New York's governor told reporters Wednesday that the consortium chosen to run a 4,500-game slot machine casino at the Aqueduct Race Track had agreed to all the state's conditions, including the upfront payment of a $300 million licensing fee. However, one of the group's partners, which includes Las Vegas-based casino operator Navegante Group, said negotiations are still under way with the state to complete a memorandum of understanding. "We are committed to complying with every condition set by the state and assure the people of New York that we will be a great partner for the state and the residents of Queens for years to come," Jeffrey Levine, chief executive officer of Levine Builders and a partner in Aqueduct Entertainment Group, said Thursday in an e-mailed statement. Navegante CEO Larry Woolf referred comments to the public relations firm handling Aqueduct Entertainment. Meanwhile, the CEO of Penn National Gaming, one of the four unsuccessful bidders for the potentially lucrative casino contract, said Thursday he was "mystified" by the prolonged bidding process that ended last week when Gov...read more

Hawaii lawmakers studying casino proposal

HONOLULU, Hawaii -- One of only two states without any form of legalized gambling is taking steps to change that status. A lawmaker in Hawaii has introduced a bill that would legalize casinos in the state. The House Committee on Hawaiian Affairs passed the bill through to the entire legislative body on Wednesday. The bill amends the Hawaiian Homes Commission Act to authorize casino gambling operations on Hawaiian homelands...read more