Featured Articles Archive - Page 490

Busy Full House ready for spotlight

LAS VEGAS, Nevada –- Full House Resorts has quietly flown under the radar. But the Las Vegas-based casino operator is making enough noise that investors could soon notice. Two weeks ago, Full House opened the FireKeepers Casino in Battle Creek, Mich., which it manages for the Nottawaseppi Huron Band of Potawatomi Indians...read more

BetOnSports founder Gary Kaplan reaches plea deal

BetOnSports founder Gary Kaplan agreed to plea deal today and will be sentenced to between 41 and 51 months in prison and forfeit $43.65 million, according to a statement released by Acting United States Attorney Michael Reap. "Kaplan admitted in court today that beginning in the mid to late 1990s, he set up business entities offshore in Aruba, Antigua and eventually Costa Rica to provide sportsbook services to U.S...read more

LV Sands amends loan agreement

LAS VEGAS, Nevada –- Las Vegas Sands Corp. amended a portion of its loan agreement that covers the company's Macau casino operations Thursday. The amendment to the company's $3.3 billion Macau credit facility boosted the interest rate, but gives Las Vegas Sands 18 months of covenant relief and the ability to pursue a limited initial public offering on the Hong Kong Stock Exchange through the sale of shares in the company's Macau casinos. The news was met positively on Wall Street Thursday...read more

Lucky's will post betting lines on the UFL

LAS VEGAS, Nevada –- At least one sports book operator said he will post lines on the fledgling United Football League when play begins Oct. 8. Joe Asher, president of Brandywine Bookmaking, which operates 11 sports books under the Lucky's brand in Nevada, said a betting line will be available when the Las Vegas Locomotives host the California Redwoods at Sam Boyd Stadium in the upstart league's inaugural game. Asher said he was happy to read the comments of UFL Commissioner Michael Huyghue, who said the new league, unlike the NFL, would welcome gambling on its games. Since the four-team league's rosters are still being set, it's unclear, Asher said, when the first UFL line will be posted. Lucky's operates the sports books at the Plaza, Terrible's, and the three Primm casinos in Clark County...read more

Nevada gaming revenue at 2004 level

LAS VEGAS, Nevada –- Nevada's monthly gaming revenues have sunk to levels not seen since 2004. And analysts said there's no telling how low the bar will fall. "We're still hearing from the casino operators that weekends are doing well, but filling rooms during the middle of the week is an issue," Frank Streshley, chief of the Gaming Control Board's tax and license division, said Tuesday after the agency released gaming revenues for June...read more

Nevada gaming revenues fall 13.8 percent

LAS VEGAS, Nevada –- Nevada gaming revenues sunk in June to their lowest single month total in almost five years. State casinos collected $818.2 million from customers during the month, a 13.8 percent decline compared with $949.3 million collected in the same month a year ago according to figures released this morning by the Gaming Control Board. The total, the lowest since July 2004 when casinos won $813 million, was the 18th straight monthly slide as the gaming industry continued to be hampered by the sagging economy. On the Strip, gaming revenues fell 14.8 percent during June to $414.5 million, compared with $486.4 million last year. Frank Streshley, chief of the control board's tax and licensing division, said June is traditionally a light month for gaming revenues...read more

Playing It Smart: Should you make progressive jackpot side bets on table games?

Side bets on table games, especially those with high progressive jackpots, are popular on both sides of the great casino divide. They offer: 1) solid citizens who prefer tables to slots shots at big scores for small bets; 2) jackpots high enough to be seductive while occasionally also giving current players an edge on their action funded principally from previous players' pockets rather than the bosses' bounty; 3) fat profits for casinos without patrons going bust quickly, or at all, such that they miss out on gratifying gambling experiences, win or lose. Caribbean Stud popularized the paradigm and set a pattern others now pursue...read more

CityCenter highlights sustainable activities

LAS VEGAS, Nevada –- MGM Mirage is highlighting the sustainability aspects of its $8.5 billion CityCenter development, scheduled to open in December. The casino operator, which owns CityCenter in conjunction with Dubai World, the investment arm of the Persian Gulf emirate, believes the 18 million square foot project will be one of the world's largest sustainable developments. MGM Mirage is pursuing the U.S...read more

More details emerge in LV Sands settlement

LAS VEGAS, Nevada –- The Review-Journal reported Aug. 1 that Las Vegas Sands Corp. agreed to pay three men $42.5 million to settle a lawsuit in June. In the casino operator's quarterly submission to the Securities and Exchange Commission that was filed Friday, more detail was revealed. Clive Basset Jones, Dax Turok and Cliff Cheong sued Las Vegas Sands and several subsidiaries in January 2006, saying the company breached an agreement to pay a success fee in an amount equal to 5 percent of the ownership interest in the casino operator's Macau gaming subconcession, as well as other related claims. On June 3, Las Vegas Sands settled the matter for $42.5 million, of which $12.5 million has been paid, according to the SEC filing...read more

Top-10 most memorable gambling-movie characters

It's only been in theaters for about two months, but something tells me that "The Hangover" is going to live in the memories of Las Vegas fans for years to come. "The Hangover" – a story about a bachelor party gone bad in Sin City – enjoyed the third-best opening for an R-rated comedy back in June and if you've seen it you know exactly why it is such a big hit. When and if we update our list of the Top-10 Gambling Movies of All-Time there's probably a pretty good chance that "The Hangover" will slip in...read more