Featured Articles Archive - Page 575

The Strip: The day the muses died?

LAS VEGAS, Nevada -- Did the notion of culture on the Strip die today? To some, the closing of the Guggenheim Hermitage Museum at The Venetian after its 61/2-year run signals the end of nontraditional, nongambling-type resort amenities. Others pointed toward the Bellagio Gallery of Fine Arts and a planned $40 million public arts program at the under-construction CityCenter as signs that refined activities unrelated to gambling are still alive and well. "I still think we'll see these type of amenities," said David Schwartz, director of UNLV's Center for Gaming Research...read more

Statewide gambling win slips 1.52 percent in March

NEVADA -- Make it 3-for-3. Statewide gaming revenues fell for the third straight month in 2008 with casinos winning 1.52 percent less from gamblers during March than they did a year ago. Strip casinos took a nearly 5 percent hit compared with their results in March 2007...read more

Slot cheat nears Black Book status

LAS VEGAS, Nevada -- The Gaming Control Board took less than 10 minutes Thursday to nominate a convicted slot machine cheat for membership as the 36th name on the state's List of Excluded Persons, commonly referred to as the Black Book. If the nomination of William Cushing is confirmed at a later date by the Nevada Gaming Commission, Cushing will be legally barred from entering a licensed Nevada casino. Chief Deputy Attorney General Michael Somps spent about seven minutes describing Cushing's numerous convictions for attempting to cheat slot machines in Nevada casinos since 1994...read more

Ameristar Casinos reports quarterly loss

LAS VEGAS, Nevada -- Ameristar Casinos reported a loss Thursday of $77.1 million during the first quarter, blaming a noncash impairment charge of $129 million related to the company's purchase of a riverboat casino in East Chicago, Ind. The Las Vegas-based casino operator had costs of $1 million related to the rebranding of the former Resorts East Chicago and an $800,000 charge related to an expansion project at the Ameristar St...read more

Video Keno, Spanish 21, women's pro hoops books new arrivals

There's a "secret army" out there. They are playing and betting on games others know little about. The games aren't a secret but the way to take advantage may be—until now. In honor of these players, to boost skills and offer new ideas, three new titles have arrived at Gambler's Book Shop...read more

Veteran Tom McEvoy still living a dream in Vegas

In 1978, Tom McEvoy was a 34-year-old accountant in Grand Rapids, Mich. where he and his wife were raising three young children. He had been working for the same firm for five temperamental years when his boss finally reached a boiling point and called McEvoy into his office...read more

Pinnacle profits in first quarter

LAS VEGAS, Nevada -- Las Vegas-based Pinnacle Entertainment bucked a gaming industry trend, reporting first-quarter increases in revenues and earnings on Wednesday because of its newly opened casino in St. Louis and an expansion at the company's flagship resort in western Louisiana. Pinnacle said it earned $5.1 million, or 8 cents a share, in the quarter ended March 31, up from $2.9 million, or 5 cents a share, a year earlier...read more

Casinos, teachers discuss tax plan

and Howard Stutz LAS VEGAS, Nevada -- The state teachers union is in talks with gaming companies about a possible agreement to call off an initiative petition that would raise gaming taxes. Under the proposed deal being discussed, the tax on hotel rooms would be increased instead, and the new revenue collected put toward schools. The ballot initiative being circulated by the Nevada State Education Association would increase taxes on gross gaming receipts and put the money toward education needs. Dan Hart, a spokesman for the teachers union, confirmed the negotiations Wednesday but declined to go into specifics, saying the details are tentative and subject to change. "There are discussions about alternatives to raising the gaming tax going on between prominent members of the gaming community and representatives of the teachers union," he said...read more

Revenue, earnings rise for WMS Industries

WAUKEGAN, Illinois -- Resurgent slot machine maker WMS Industries said Tuesday revenues grew 27 percent in the third quarter to $173 million. The company also announced that Chairman Louis Nicastro was retiring on July 1. WMS, which is based in Waukegan, Ill., reported a net income of $18.8 million in the quarter, or 32 cents a share, up from earnings of $12.9 million, or 23 cents per share, a year earlier. WMS President and Chief Executive Brian Gamache credited the expansion of Indian gaming in California and international growth with boosting slot machine sales revenues...read more

Earnings: MGM Mirage profits slide

LAS VEGAS, Nevada -- MGM Mirage Chairman and Chief Executive Officer Terry Lanni's suggestion that the gaming company could be split in two sent the company's stock up the most in eight months despite news that its quarterly earnings were down 30 percent. The souring national economy, which kept many potential MGM Mirage customers away from the company's 10 Strip resorts, was a primary factor as the casino operator said its profits were $50 million less than a year ago...read more