Featured Articles Archive - Page 521

Top-10 WSOP events we'd like to see on ESPN

True poker fans received a bit of a jolt last week when ESPN announced its broadcast schedule for the 2009 World Series of Poker. The network will air 15 weeks of WSOP coverage beginning July 28, but just two bracelet events will be shown and the only game that will be seen will be No Limit Texas Hold'em...read more

Macau gaming revenues down 8.5 percent

MACAU -- As some of the biggest gaming companies prepare to release first quarter revenue reports, word came from Macau this morning that the global recession continues to impact the Chinese gambling market. Portuguese-language media is reporting that Macau gaming revenues in April decreased 8.5 percent to just above $1 billion. In March, Macau gaming revenues fell 13 percent...read more

Murren rounds bases but isn't home

LAS VEGAS, Nevada -- MGM Mirage Chairman and Chief Executive Officer Jim Murren spent months negotiating a multibillion-dollar financial rescue plan for the troubled CityCenter. He held around-the-clock talks with officials from banks located in four different time zones...read more

Colorado beckoning casino workers

LAS VEGAS, Nevada -- Mark Wexler hasn't worked as a table games dealer since November, when the tanking Southern California economy eliminated his job at the Pechanga Casino in Riverside County. Wexler, who spent 17 years dealing table games and working as a floor supervisor on the Strip, said he can't find a dealing job in Las Vegas because casinos aren't hiring...read more

List of online gambling sites banned by Minnesota released

Minnesota's Alcohol and Gambling Enforcement Division released Friday the list of 200 online gambling sites it wants blocked from Minnesota residents, and it contains quite a few surprises. On the list are several sites that don't allow American players, including PartyCasino, Everest Poker, Ladbrokes Casino, Intercasino, Virgin Games and William Hill Casino...read more

Gaming stocks show gains in April

LAS VEGAS, Nevada -- For the first time since August, gaming stocks collectively took a positive turn. The 10 casino operators and slot machine manufacturers charted by Las Vegas-based financial consultant Applied Analysis all showed double-digit increases in their average daily stock prices over their March totals. Several of the major casino operators will be reporting first-quarter earnings soon...read more

Deal Me In: Natural odds, take your bow

Dear Mark: I have been told that the best bet in a casino is to bet "natural odds" at the craps table because the house has no edge. My question is, if this is such a good bet, why do some casinos offer to let you to place bets for up to 10 times your line bet or even higher? Bob F. It's true; Bob, taking odds is distinct from all other casino wagers in that free odds carry NO house edge...read more

MGM not in the clear just yet

LAS VEGAS, Nevada -- MGM Mirage may have rescued its massive CityCenter development from a potential bankruptcy, but saving the company from a similar fate is another matter. That was the assessment of Wall Street a day after the casino operator and its joint venture partner, Dubai World, agreed to a comprehensive plan to fully fund and complete the $8.5 billion CityCenter. Analysts believe MGM Mirage still needs to sell off one or several of its nine Strip casinos or its some of its resort holdings outside of Las Vegas in order to address its liquidity issues surrounding the company's $13.5 billion in long-term debt. As part of the deal reached to finance and finish City Center, MGM Mirage received a second waiver of the company's financial covenants from its lenders...read more

Ameristar Casinos has double-dose of good news

LAS VEGAS, Nevada -- Ameristar Casinos gave investors a double-dose of good news Wednesday. The Las Vegas-based regional casino operator reversed a first-quarter loss by increasing net income and earnings per share during the three-month period that ended March 31...read more

Funding agreement reached in CityCenter project

LAS VEGAS, Nevada -- MGM Mirage and Dubai World ended a 5-week-old public feud Wednesday by agreeing to a comprehensive plan to fully fund and complete the $8.5 billion CityCenter development. The agreement between the 50-50 joint venture partners ends speculation that CityCenter, one of the largest-ever privately funded construction projects in the United States, would end up in bankruptcy...read more