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Featured Articles Archive - Page 516

  • Latest Articles     5151 - 5160

 
Articles by Howard Stutz

Herbst Gaming files for Chapter 11

23 March 2009
LAS VEGAS, Nevada -- Herbst Gaming filed a prepackaged Chapter 11 bankruptcy reorganization plan Sunday that will result in the company losing ownership of its 15 casinos but retaining control of its Nevada slot machine route. Herbst Gaming Chief Executive Officer Troy Herbst said in a statement that the company previously negotiated an agreement with a majority of its secured lenders covering $847 million in total debt...read more
 
Articles by Howard Stutz

Progressive Gaming files to liquidate

23 March 2009
LAS VEGAS, Nevada -- Progressive Gaming International, which saw substantially all of its assets sold to International Game Technology in a foreclosure sale in January, formally filed for bankruptcy liquidation this week. The company, which provided gaming systems and other technology to casinos, owes more than $5.6 million to unsecured creditors, according to a Monday filing with the U.S...read more
 
Articles by Mark  Pilarski
Articles by Mark Pilarski

Deal Me In: Tutorial on casino management

20 March 2009
Dear Mark: A friend at Lake Tahoe is a dual rate dealer. Since he broke his hip skiing, he can't reach the pass line on the craps table. While he recovers, he has been working "the Pencil." He is spontaneous and multi-tasks well. Can you elaborate on this position? Randy S...read more
 
Articles by Howard Stutz

Treasure Island sale gets final OK

20 March 2009
LAS VEGAS, Nevada -- Phil Ruffin is doing MGM Mirage a favor, and it only cost him $100 million. Ruffin, 73, who was approved Thursday by the Nevada Gaming Commission to take over Treasure Island from MGM Mirage, said he altered his deal with the casino operator. Instead of paying $500 million up front in cash, Ruffin increased the amount to $600 million...read more
 
Articles by Howard  Schwartz

Getting ready to bet baseball? Here are some fact-filled books.

19 March 2009
Okay, you know how to bet baseball; you understand the money line, totals, parlays. But with the season less than a month away, how do you get a good start while linemakers are still trying to figure out who the "aces" are and who might disappoint? Luckily, there are some excellent resources to speed up your information-gathering efforts and what they contain. Baseball America Prospect Book (510 pages, paperbound, $30.95)...read more
 
Articles by Gary  Trask
Articles by Gary Trask

Gambling sites included in Aussie 'blacklist'

19 March 2009
EDITOR'S NOTE: The Web site GamblingHall.com is not on the black list that was leaked to Wikileaks as originally reported. Casino City apologizes for this reporting error. A "black list" of Web sites that the Australian government would require ISPs to block has been leaked to Wikileaks and it includes a number of online gambling sites. The list compiled by the Australian Communications and Media Authority (ACMA) was expected to contain sites that published child pornography...read more
 
Articles by Howard Stutz

MGM Mirage will need aid

19 March 2009
LAS VEGAS, Nevada -- Even with a two-month reprieve from its lenders, MGM Mirage won't be able to weave its way through its current financial situation without the help of a bankruptcy court, Wall Street believes. The Strip casino giant bought itself until May 15 to come up with a restructuring plan covering at least $7 billion of its $13.5 billion in long-term debt...read more
 
Articles by Alan  Krigman
Articles by Alan Krigman

Playing It Smart: Why try for a small jackpot, with a bigger prize down the aisle?

18 March 2009
Slot machines of the same denomination may have greatly disparate jackpots. A 3-coin-maximum quarter game might offer as little as $500, or as much as $10,000, $25,000, or more, for a $0.75 bet. A nearby dollar device could have less of a biggie, or something much more grand at $3 a pop. You see solid citizens attacking them all...read more
 
Articles by Howard Stutz

MGM Mirage gets relief from vendors

18 March 2009
LAS VEGAS, Nevada -- Lenders gave MGM Mirage some much needed financial relief through the middle of May. The casino operator, in danger of defaulting on $7 billion of its long-term debt, announced Tuesday its lenders had waived requirements that the company be in compliance of its senior credit facility covenants until May 15. However, the company said in a filing with the Securities and Exchange Commission that auditors have raised "substantial doubt" about MGM Mirage's ability to continue, Bloomberg News reported...read more
 
Articles by Howard Stutz

Professor mixes law with gaming

17 March 2009
LAS VEGAS, Nevada -- Bob Faiss has a résumé that reads like a documentary of the Nevada gaming industry. So it was logical that Faiss's oral history book, "Gaming Regulation and Gaming Law in Nevada," be part of the 50th anniversary celebration of the Nevada Gaming Commission...read more

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