Featured Articles Archive - Page 513

Top-10 tidbits from the 2009 WSOP Media Guide

Believe it or not, cards go in the air for the 2009 World Series of Poker in just 31 days. And in anticipation of the biggest poker event of the calendar year, the crack WSOP media relations staff released its 45-page Media Guide last week...read more

Murren earned more than $3 million in 2008

LAS VEGAS, Nevada -- MGM Mirage Chairman and Chief Executive Officer Jim Murren earned more than $3 million in pay during 2008, roughly $5.4 million less than he was compensated in 2007, according a company filing with the Securities and Exchange Commission late Friday. Murren, who replaced Terry Lanni in those positions in November, was recently given a new employment agreement that expires in 2013 almost with a raise of $500,000...read more

Pinnacle beats analysts' expectations

LAS VEGAS, Nevada -- A day after Penn National Gaming blew away earnings projections, Pinnacle Entertainment backed up Wall Street's thesis that regional gaming markets are showing small signs of recovery. Pinnacle, which is based in Las Vegas but operates primarily in the South and Midwest, beat analysts' expectations Friday when the company announced its first-quarter earnings. The casino operator, which owns Boomtown in Reno, reported a net income of $900,000 in the quarter ended March 31, or earnings of 2 cents per share...read more

IGT forging ahead despite loss

LAS VEGAS, Nevada -- New International Game Technology Chief Executive Officer Patti Hart knew when she took over the job 23 days ago, the Reno-based slot machine giant was facing challenges. Casino customers aren't spending much money on gambling...read more

Deal Me In: Those gimmick wagers ride the range again

Dear Mark: I was playing blackjack, and this game had the Pair Plus bet. I usually don't bet these side bets, but pairs were coming up like crazy so I tried it a couple of times. Could you give me the house edge on this bet? James H. The bet you mentioned isn't called Pair Plus, as the wager of that name you will find on a three-card poker table...read more

Penn National profits beat expecations

LAS VEGAS, Nevada -- Regional casino operator Penn National Gaming posted a first-quarter profit that exceeded Wall Street's expectations, but the company's infatuation with Las Vegas was still foremost with analysts. Officials from Wyomissing, Pa.-based Penn National, which operates 19 casinos and racetracks, said the company remains interested in acquiring a Strip casino...read more

"Eat Pro Poker Players Alive!" covers much territory

Like a breath of fresh air, a new work on the game, Eat Professional Poker Players Alive! by Frank Wiese (295 pages, paperbound, $24.95), has arrived. Covering Hold'em, Razz, Stud, 2-7 Triple Draw Low Ball and H.O.R.S.E., tournament play and online poker, it's an excellent tutorial for both beginners and experienced players...read more

Playing It Smart: Why craps players take odds, but few lay them

Most craps buffs who play Pass or Come take Odds after the point is established. Technically, the extra money put at risk to do so represents a "good bet" because the house has no edge on it. The reason is that the payoff precisely mirrors the chance of success...read more

Kerkorian wants to sell The Mirage

LAS VEGAS, Nevada -- MGM Mirage founder and majority shareholder Kirk Kerkorian wants to sell The Mirage, believing the Strip casino could fetch a heftier price on the auction block than the company's casinos in Detroit and Biloxi, Miss. The New York Post, citing unnamed sources, wrote today that Kerkorian, the 91-year-old billionaire who controls about 53 percent of the Strip casino giant, thinks proceeds from a sale of The Mirage will keep the company out of bankruptcy and thwart corporate raider Carl Icahn. Icahn, it was reported last week, had bought up millions of dollars worth of MGM Mirage's corporate bonds in an effort to force the operator of nine Strip casinos to file bankruptcy. Earlier this month, MGM Mirage hired Morgan Stanley to sort through offers for MGM Grand Detroit and Beau Rivage in Biloxi...read more

WMS Industries posts increases

LAS VEGAS, Nevada -- Resurgent slot machine maker WMS Industries recorded increases in both revenues and earnings in its third quarter despite the economic downturn that has zapped sales by gaming equipment rivals. "Our operating execution is outpacing the challenging environment and is driven by the consistency of our high-return, high-earning games that are embraced by players and our casino customers worldwide," Brian Gamache, chairman and chief executive officer of the Waukegan, Ill.-based company said Tuesday in a statement. WMS, which has sales offices in Las Vegas, had net income of $24.4 million, or 43 cents a share, in the quarter ended March 30, compared with net income of $18.8 million, or 32 cents per share, a year earlier. Revenue rose 4.6 percent to $180.8 million from $172.8 million. Slot machine sales totaled $114 million with the average selling price improving 18 percent to an average of $14,854 on the 6,431 new games shipped during the quarter...read more