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Featured Articles Archive - Page 535

  • Latest Articles     5341 - 5350

 
Articles by Howard Stutz

IGT's cost-cutting steps overshadow lower profits

31 October 2008
LAS VEGAS, Nevada -- Profits earned by slot machine giant International Game Technology were cut in half during the fourth quarter, but Wall Street wasn't focused on results. Investors had more interest in the cost-cutting measures being undertaken to right the Reno-based company's listing ship. "We expect that the fourth-quarter results will be overlooked as investors know this would be a soft quarter and will rather focus on the direction the company is heading," Stifel Nicolaus gaming analyst Steven Wieczynski wrote in a research note shortly after IGT reported earnings Thursday. During a conference call with analysts and investors, IGT Chairman and Chief Executive Officer TJ Matthews said the year had been one of the most difficult in the company's history...read more
 
Articles by Mark  Pilarski
Articles by Mark Pilarski

Deal Me In: Progressives are in no way a "Cluck-for-the-Buck" deal

31 October 2008
Dear Mark: I enjoy playing those super jackpot progressive slot machines because it gives me the greatest return for a small investment. Is this sound and sensible gambling? Oliver P. It is a mistaken belief, Oliver, shared by scores of slot players, that you are only making a small investment in an attempt to win big jackpots when you play progressive slots...read more
 
Articles by Dan  Igo
Articles by Dan Igo

Two charged with money-laundering in connection with Bodog

31 October 2008
Federal authorities have charged two men with money-laundering in connection with its ongoing investigation into Internet gambling giant Bodog. In January and February of this year, after a two-year investigation, the IRS seized about $14.2 million from JBL Services, according to court documents filed in federal court in Baltimore...read more
 
Articles by Howard  Schwartz

Blue-ribbon hoops book super resource for serious bettors going fast

30 October 2008
The 28th edition of the Blue Ribbon Basketball Yearbook (384 pages, 8x11 paperbound, $22) has arrived at Gambler's Book Shop and the stock is being snapped up like hot bagels on a cold Saturday morning. Edited by Chris Dortch and his dedicated staff around the nation, the book -- often purchased by scouts, coaches, players, bettors, talk show hosts, sports editors and sports information directors everywhere -- outstrips virtually every other basketball resource because of its freshness and depth of analysis. More than two-dozen conferences and hundreds of teams get the spotlight, with a breakdown at strengths, weaknesses, offenses and defenses. These write-ups answer a bevy of questions: How good was the recruiting or how severe were the losses? Who's back? Who can back up an injured star? Who's potential first team All-America? Who's a potential pro star and why? Who will be the Beasts of the East if not North Carolina, Connecticut, Villanova or Syracuse (all picked in the top 25)? Is any Western team a standout? (The Blue Ribbon people say keep an eye on UCLA, USC, Saint Mary's and Arizona State.) Will there be emphasis on more defense, a run and gun approach, or will a team rely on one key player to provide all the firepower? Which team is deep? Which coach's job might be in jeopardy? The book is especially good for the first 10 games of the year, when linemakers are somewhat vulnerable and upsets are possible in tournaments...read more
 
Articles by Gary  Trask
Articles by Gary Trask

'Regular guy' Suharto makes unlikely run to Main Event final table

30 October 2008
Darus Suharto tries to convince you of his poker ignorance and, quite frankly, he sounds sincere. But in the end you don't believe him. In two weeks, Suharto will be sitting on the grandest stage in poker as one of the November Nine, attempting to become the 2008 World Series of Poker Main Event champion...read more
 
Articles by Howard Stutz

Adelson gains $1.2 billion as gaming soars on Wall Street

30 October 2008
LAS VEGAS, Nevada -- Stocks within the beleaguered gaming sector scored a one-day boost Wednesday despite the markets' overall volatility. Las Vegas Sands Corp., along with Chairman and Chief Executive Officer Sheldon Adelson, were the biggest benefactors. Shares of casino operator jumped 80 percent Wednesday on the New York Stock Exchange as the stocks of publicly traded casino companies and gaming equipment manufacturers rose throughout the day. Adelson, who controls almost 70 percent of the company personally and through family trusts, saw his net worth climb more than $1.2 billion...read more
 
Articles by Howard Stutz

MGM cuts reassure investors

30 October 2008
LAS VEGAS, Nevada -- Wall Street wasn't surprised Wednesday when casino giant MGM Mirage said its third-quarter profit fell 67 percent from a year ago due to the slowing national economy and reduced customer spending. What gave investors a lift was the company's reaction to the crisis. Cost reductions, corporate restructuring and downsizing and other strategic budgetary initiatives enacted over the past few quarters gave the financial community comfort that MGM Mirage, which operates 10 Strip hotel-casinos, will successfully manage the global economic downturn. The company said it was indefinitely postponing construction of two major resorts in Las Vegas and Atlantic City...read more
 
Articles by I. Nelson Rose
Articles by I. Nelson Rose

Which Way, Asia?

29 October 2008
Macau’s gross gaming revenue is slowing. Still, the only legal casinos in China made more in the first three quarters of 2008 than they did in all of 2007 -- and that was more than all the casinos on the Las Vegas Strip. Singapore is next, with the first of two gigantic integrated resorts, or IRs, as they are called, set to open in 2009. Vietnam, which has small casinos restricted to foreigners, had a groundbreaking on its own billion-dollar IR...read more
 
Articles by Dan  Igo
Articles by Dan Igo

Chips fly and records fall at Full Tilt

29 October 2008
The record for the largest online no-limit hold'em pot was broken four times within 24 hours last weekend. The previous mark was set on September 12th by "patatino," who won a $610,000 pot against Hac Dang. According to the hand histories posted by highstakesdb.com, the record was first broken in a battle between Tom "durrrr" Dwan and "LarsLuzak." "LarsLuzak" started the action by raising $3,000 preflop...read more
 
Articles by Alan  Krigman
Articles by Alan Krigman

Playing It Smart: The elegant side of roulette

28 October 2008
Roulette has an underlying elegance few solid citizens (or casino bosses, for that matter) appreciate. Bets on combinations such as corners or columns pay the same as on the total spread uniformly over the identical numbers. It's invariably in whole dollars, and it means that the edge is consistent regardless of what's bet. This holds universally at single-zero roulette...read more

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