Featured Articles Archive - Page 517

Companies may be hired to run sold-off properties

LAS VEGAS, Nevada –- Randall Fine is busy enough right now. He knows, however, as the financially challenged casino industry weaves its way through restructuring over the next couple of years, his life may become a little more complicated. Fine, managing director of The Fine Point Group, a Las Vegas-based casino management company, took over operations of the bankrupt Greektown Casino in Detroit in January. With several casino operators already in some form of bankruptcy restructuring, and others potentially close, Fine and his competition could be called upon to operate casinos that have been pared off by debt-laden casino corporations seeking to shed assets to satisfy creditors. Greektown, the smallest of Detroit's three casinos, is owned by the Sault Tribe of Chippewa Indians and has been in bankruptcy for more than a year, owing some $777 million to creditors and lenders. Since Fine's company took over, Greektown, with 2,600 slot machines and 21 gaming tables, has grown its market share 13 percent...read more

Playing It Smart: Passing up Basic Strategy splits at blackjack

Proficient blackjack players normally split pairs when Basic Strategy says to do so. "Normally," meaning having enough reserve to fund possible resplits and doubles-after-splits, neither sweating the outcome nor risking a bust-out if fate is frowning. Circumstances that aren't normal may pose a dilemma...read more

Illinois moves to legalize slots in bars

SPRINGFIELD, Illinois –- Illinois lawmakers gave the slot machine industry hopes for a new source of potential revenue Thursday evening. If Gov. Pat Quinn agrees, International Game Technology, Bally Technologies and Illinois-based WMS Industries could get a much-needed boost to their bottom lines. Both houses of the Illinois Legislature passed a $29 billion public works program that would be paid for by increased taxes and fees associated with the legalization of video gambling across the state. Illinois already has a healthy riverboat gambling industry...read more

New LV Sands president ready for action

LAS VEGAS, Nevada –- If he had done his job correctly, Michael Leven wouldn't be president of Las Vegas Sands Corp. Leven, a member of the casino operator's board of directors since 2004 and a 20-year friend of company Chairman Sheldon Adelson, was asked to find a replacement for Bill Weidner, whose contract was expiring at the end of the year. Insiders didn't believe the board would renew Weidner's deal...read more

Top-10 first impressions of Las Vegas

Last week I finally took my pilgrimage to gambling's Mecca: Las Vegas. I stayed for four days and three nights, and probably couldn't have lasted any longer. By my last day, running on three hours of sleep had finally caught up. My group stayed on the Strip at the Luxor, whose two "headline" acts were Carrot Top and Criss Angel...read more

Deal Me In: Spread your action around

Dear Mark: The casino where I play cut back on the perks I normally receive. Is there anything I can do about it? Tim D. I made mention a few weeks back, Tim, that it baffled me that some casinos are making wholesale changes to their video poker machines, hoping to improve their theoretical hold during these tough times...read more

A betting preview of the 2009 World Series of Poker

The verdict is in and the evidence is rather convincing. Poker is a spectator sport. Sure, there are many out there who would argue that not only is poker not a spectator sport, but that it's not even a "sport" to begin with. But try telling that to the ESPN executives who have made the game a staple of its broadcast schedule and have seen its World Series of Poker ratings rise in recent years...read more

Sands high hopes for Bethlehem casino

LAS VEGAS, Nevada –- It seemed like a strange marriage. In December 2006, Las Vegas Sands Corp. was awarded a gaming license to build a stand-alone casino on the site of the former Bethlehem Steel Mill in Pennsylvania's Lehigh Valley. The mill, closed since November 1995, operated for more than 140 years and provided steel for dozens of America's most famous bridges and landmarks...read more

Matusow's poker bio an honest, revealing read

Few ex-priests, rabbis or academic geniuses have made it big in cutthroat poker tournaments and cash games over an extended period of time. Some might have risen to the top but the nature of the game doesn't fit that mode. Mike (The Mouth) Matusow's bio clearly shows what this world is made of...read more

Pansy Ho may fight NJ ruling

LAS VEGAS, Nevada –- Hong Kong businesswoman Pansy Ho isn't happy New Jersey's Division of Gaming Enforcement believes she's an "unsuitable" business partner for MGM Mirage. In a statement released to media in Hong Kong and Macau, Ho hinted she might fight the decision. "I and my advisers wil...read more