Featured Articles Archive - Page 632

Pinnacle halts Indiana project

INDIANA -- Plans by Indiana lawmakers to install slot machines at two racetracks near Indianapolis didn't sit well with Las Vegas-based Pinnacle Entertainment. The casino operator announced Tuesday during its first-quarter earnings report it was indefinitely postponing construction of a $45 million, 250-room hotel expansion at its Belterra casino due to the increased competition...read more

WPT ready to gamble with Cryptologic

The World Poker Tour is moving its fledgling online poker room to the Cryptologic platform in June after more than a year of struggling on the WagerWorks network. Operational errors have slowed the WPT's progress in the online poker world...read more

It's about TIME: Tourism is a key resource to help Mich.

Michigan is a great state, with unique recreation and entertainment attractions. It also has a loyal and committed residential base that possesses Midwest values and knows how to entertain guests. Though the state's economy has been struggling of late, a struggling economy is by no means a dead economy...read more

Highlights from CAC Amsterdam 2007

I have attended quite a few online gaming conferences in my two years and two months in the online gaming industry and I have never experienced anything like this past week in Amsterdam. Each night I was out until 4 or 5am and had to get up again at 8am for a day full of 30 minute meetings and meals...read more

Macau success lifts Wynn Resorts' quarter

LAS VEGAS, Nevada -- Although quarterly earnings for Wynn Resorts Ltd. reversed a year-earlier loss, company Chairman Steve Wynn lectured investors Monday on how Las Vegas history might be used to carefully judge the growth of gambling in Macau. Booming business at Wynn Las Vegas and Wynn Macau drove the company's results for the first quarter ended March 31, fueling boosts in both profits and revenue. Wynn Resorts posted net income of $58.4 million, or 54 cents per share in the quarter...read more

Editorial: (Not Quite) Time to Regulate

Barney Frank introduced a federal regulatory bill! Did anybody see that coming? Not me. All the rumors I had been hearing indicated that his legislation would undo parts of the UIGEA, and I was very skeptical of his efforts because he was telling reporters things like, "My committee only has jurisdiction over credit cards...read more

MGM exec not concerned about getting N.J. approval

LAS VEGAS, Nevada -- MGM Mirage Chairman Terry Lanni is confident his company's joint venture in Macau with a controversial Chinese businesswoman will be approved by New Jersey gaming authorities, even though one Wall Street analyst believes the casino operator will dump its vast Atlantic City real estate holdings if the partnership is rejected. Gaming regulators in Nevada and Mississippi have approved MGM Mirage's 50-50 partnership with Pansy Ho in the $1.1 billion MGM Grand Macau, which is scheduled to open by the end of the year. New Jersey's Division of Gaming Enforcement is investigating the relationship between MGM Mirage and Ho, the daughter of 84-year-old Chinese billionaire Stanley Ho...read more

MGM Mirage exec takes swipe at NBA

LAS VEGAS, Nevada – MGM Mirage executives used the company's Thursday morning quarterly earnings conference call to deliver a broadside on Las Vegas' hosting of the NBA All-Star Game in February. MGM Mirage Chairman Terry Lanni said fans attending the game and subsequent All-Star related events did little gambling during the four-day weekend, Feb...read more

Investors punish Sands stock

LAS VEGAS, Nevada -- A day after Las Vegas Sands Corp. executives told Wall Street the company's quarterly profit took a hit because of the myriad costs related to the company's construction projects in Las Vegas and Asia, investors answered back. It wasn't a response the casino operator wanted to hear. Shares of Las Vegas Sands traded down on the New York Stock Exchange on Thursday while gaming analysts universally expressed disappointment in the company's first-quarter results...read more

The games they play: Sports leagues oppose Internet gambling regulation

The four major professional U.S. sports leagues and the NCAA have sent a letter to the House Financial Services Committee asking members to oppose the Internet Gambling Regulation and Enforcement Act, according to a report by the Stephens Washington Bureau. "Our sports organizations each have strict policies against sports betting because wagering on sports can corrupt athletic contests or create the appearance of corruption," the letter said. While the proposed legislation would allow the leagues to opt out of a licensed and regulated Internet gambling market, the leagues are worried that any expansion of Internet gambling in the United States could eventually lead to sports betting on all leagues, regardless of their desire to be excluded. "If online poker or lotteries or other forms of restrictions are legalized, a major trading partner such as the European Union may be able to get the WTO (World Trade Organization) to rule against all U.S...read more