Featured Articles Archive - Page 716

Empire Files Case Against PartyGaming in Gibraltar

Empire Online today filed the anticipated legal proceedings against PartyGaming in Gibraltar's High Court. Empire seeks substantial damages-- reportedly several hundred million dollars—as well as injunctive relief that could effectively reinstate a prior business contract between the two companies. The companies once enjoyed an amicable relationship whereby Empire served as a "skin" partner to PartyGaming and paid a royalty on its players for being allowed to use PartyGaming's poker platform...read more

Aid Over For Staff At Beau Rivage

MISSISSIPPI -- After today, MGM Mirage will no longer pay wages and benefits to the displaced employees from the company's hurricane-shuttered Beau Rivage casino in Biloxi, Miss. The 90-day program in which the Las Vegas-based casino operator agreed to pay the resort's 3,100 employees their lost paychecks expired...read more

Party Looks Strong, but Challenges Lie Ahead

PartyGaming, the world's largest online poker company, has regained its float price of 116p after a tumultuous two-month period in which its shares dropped more than 100p to 71p before slowly rising again. PartyGaming's share price began to slip after the company announced in September that revenue growth was slowing...read more

Fallout From Hurricanes: Harrah's Trims Jobs

Las Vegas-based Harrah's Entertainment laid off most of its 9,400-person Gulf Coast casino work force this week, three months after devastating hurricanes halted operations at five of the company's casinos in Louisiana and Mississippi. In letters to displaced employees, Harrah's said the workers will be given first consideration for new jobs once the storm-damaged casinos are back in operation...read more

Helping to Fill the Research Void

A recently launched private, non-profit organization has set out to fund research projects that deal with issues pertaining specifically to online gambling. The Amsterdam-based Global Remote and E-Gambling Research Institute (GREGRI) seeks to assist new remote gambling-related research projects with grant money donated by sponsors. GREGRI hopes to provide grant money for research that will explore some of the historical, economical, mathematical, legal and social aspects of online gambling or investigate the development, execution and evaluation of remote gambling around the world...read more

Rebecca's Recommendations - December 1, 2005

Welcome back! Right now I’m on a plane to Costa Rica that left- yes, left- Boston at 5:50am. Painful. It’s OK though because Bodog is based in Costa Rica and I will be picked up at the airport by the manager of the Bodog Calling Center (no, the manager is not one of the ridiculously hot "Bodog girls"- sorry)...read more

Harrah's Reveals Spanish Casino Plans

SPAIN --If it's Wednesday, then it must be Spain. Harrah's Entertainment Chairman Gary Loveman racked up the frequent flier mileage in November, concluding the month by announcing the company plans to co-develop a Caesars casino resort in the master-planned El Reino community of Ciudad Real, 118 miles south of Madrid. The announcement capped a month of international development activity for the world's largest casino operator. On Tuesday, Harrah's said it signed a memorandum of understanding with Slovenia's largest casino operator to develop a luxury casino resort in Nova Gorica, Slovenia...read more

Casino Stocks Rebound

MISSISSIPPI -- After a three-month slide gaming stocks rebounded in November, shaking off the effects of Gulf Coast hurricanes and higher fuel prices. Most of the major casino companies saw their average daily stock prices experience double-digit, month-over-month percentage increases. "From the 27th of October to the third of November, things changed for the better," said CRT Capital Group gaming analyst Steven Ruggiero...read more

Shaking Off Storm, Alliance Holds Private Peek at Games

Gulf Coast casino operators sustained a double-whammy from Hurricane Katrina. Not only did they lose most of their gaming equipment in the Aug. 29 storm, they missed the Global Gaming Expo in Las Vegas two weeks later. This week, however, the operators got their own version of the gaming expo. On Monday, Alliance Gaming Corp...read more

Icahn-Controlled Company Buys Flamingo Laughlin for $170 Million

The gaming arm of the Carl Icahn-controlled American Real Estate Partners announced Tuesday it had bought the Flamingo Laughlin from Harrah's Entertainment for $170 million. American Real Estate Partners, owners of the Stratosphere and two Arizona Charlie's casinos in Las Vegas and the Sands in Atlantic City, also bought an undeveloped 7.7-acre parcel in Atlantic City in the deal. The deal is subject to regulatory approval and isn't expected to close until the middle of next year. The Flamingo, opened in 1990, is Laughlin's largest hotel-casino, with 1,907 rooms and a 57,000-square-foot casino. "What intrigues me about the property is that in smaller gaming markets, in order to win you should have mass," American Real Estate Partners Chief Executive Officer Richard Brown said...read more