Featured Articles Archive - Page 501

Gaming stocks rise in August

LAS VEGAS, Nevada –- Gaming stocks took an upward spin in August, and the trend had nothing to do with revenues or results. Investors agreed that casino operators and slot machine makers had taken proper steps to control costs in light of the challenging economy. Publicly traded gaming companies reported second-quarter earnings during August, with many operators such as MGM Mirage, Wynn Resorts Ltd...read more

Delaware sports betting will be limited to NFL parlays

The only legal sports betting to take place in the state of Delaware this fall will be on NFL games and the only type of wager available to bettors will be parlays. That's what the 3rd U.S. Circuit Court of Appeals ultimately decided on Monday in a 23-page opinion that said the state can "institute multigame (parlay) betting on at least three NFL games" without violating federal statutes aimed at restricting the expansion of gambling...read more

Top-10 ideas to spice up your fantasy football season

As you read this, more than 27 million Americans are gearing up for their 2009 fantasy football draft. That's right, according to the Fantasy Sports Trade Association, nearly 10 percent of the U.S. population will be entered in some sort of a fantasy league this football season...read more

Aqueduct bidding fast and furious

QUEENS, New York –- The bidding for a casino at New York's Aqueduct racetrack has turned into an old-fashioned Wild West shootout. The stakes are high for gaming's biggest players. In an industry that has seen few expansion opportunities in the past 18 months sits the historic Aqueduct racetrack in Queens, less than 15 miles from Manhattan...read more

Gaming sector latest target of shareholder lawsuits

LAS VEGAS, Nevada –- Casino industry stockholders who collectively lost millions of dollars in investments when Wall Street tanked over the last 18 months are asking the courts to remedy their losses. Federal class action lawsuits have been filed in recent weeks against slot machine manufacturer International Game Technology and casino operator MGM Mirage, alleging that two of Nevada's largest publicly traded gaming companies made false statements about their financial prospects as stock prices sank to historic lows. Earlier this year, shareholders filed similar claims against Las Vegas Sands Corp. Experts wouldn't be surprised if other publicly traded casino operators and slot machine manufacturers are also targeted. The jury is still out, however, on whether the legal system will restore shareholders' bank accounts. "People have a natural tendency to say they didn't make a bad choice," said Duke University School of Law professor James Cox, who specializes in corporate and securities law...read more

Playing It Smart: The best bet at the craps table

Some solid citizens study games by comparing different wagers to be sure of putting their dough on the layout in the most propitious way. This is certainly a good idea... provided they understand the yardsticks they're using to make their judgements. Comparison across games is often a matter of apples and oranges...read more

Deal Me In: This cultist can't offer reader counsel

Dear Mark: I'm figuring you are the go-to person regarding this gambling-related question. Could you please give me some recommendations on gambling software for Windows that you have tried over the years? Nick G. In April of 1984, I walked into a computer store in Reno, NV, walked out with a Macintosh 128, then drove my newest prized possession up the hill to Lake Tahoe in a automobile worth half what the computer cost...read more

Delaware racinos still plan on offering sports betting

After further review, it appears you will indeed be able to place a bet in the state of Delaware on your favorite NFL team this football season. Despite Monday's federal appeals court ruling that said the state's plan to offer single-game wagering would violate a federal ban on sports betting, Delaware's three race tracks are proceeding with plans to open their new sportsbooks beginning next week, but it's looking more and more like the only wagers available will be NFL parlay bets. "It's not ideal, but it's better than having no sports betting at all," Dover Downs Hotel & Casino CEO Ed Sutor told Casino City on Wednesday...read more

Anaylst believes Pinnacle should build Louisiana resort

LAS VEGAS, Nevada –- Macquarie Securities gaming analyst Joel Simkins believes Pinnacle Entertainment should move forward with a planned gaming development in Lake Charles, La. Las Vegas-based Pinnacle already operates L'Auberge du Lac in Lake Charles and has proposed the $407 million Sugarcane Bay on neighboring land. Simkins believes the two resort-complex, which would surround a Tom Fazio-designed golf course, could grow the Lake Charles market into a nearly $2 billion-a-year gaming destination. The L'Auberge/Sugarcane Bay complex could give Pinnacle one of the largest commercial casino facilities in Louisiana with 1,395 hotel rooms, 3,100 slot machines and 112 table games. Houston, four hours to the west with 5.6 million residents, is the prime feeder market for Pinnacle's Lake Charles complex. "A larger, fully integrated resort with luxury hotel rooms, more meeting space, and other amenities could better attract Houstonians and other longer-range communities (such as Austin and San Antonio)," Simkins told investors. One of the keys to the project is Texas not moving forward with legalizing casinos. "We are comfortable that Pinnacle should move ahead with this project as the core Houston feeder market is underserved," Simkins said. Pinnacle also owns land in Reno, Atlantic City and Baton Rouge, La., for potential casino development...read more

Wall Street bullish on slots machines

LAS VEGAS, Nevada –- Two gaming analysts have given slot machine makers a reason to smile. Both told investors that prospects for equipment manufacturers are high going into the next few years. Potentially, 70,000 new slot machines could find their way into Ohio, Illinois, Kansas, Maryland, and Pennsylvania...read more