Featured Articles Archive - Page 730

Gaming Stocks Rebound in Quarter

After a rocky three months, gaming stocks closed 2005's second quarter on an uptick, a Las Vegas index showed. Both casino operators and equipment manufacturers showed increases in their average daily prices during June. The Applied Analysis Gaming Index, a weighted average of nine local gaming stocks compiled by the Las Vegas-based financial consulting firm, increased for the first time since March. The completion of Harrah's $9.4 billion buyout of Caesars Entertainment, and an announcement that April's gaming win jumped more than 6 percent statewide helped push stock prices of gaming companies higher...read more

Rebecca's Recommendations - June 30, 2005

Welcome back to Rebecca's Recommendations! First, I must apologize for the last minute change, but the Noble Poker Freeroll Poker Tournament for Casino City Members only has been moved to Sunday, July 17th, at 5pm EST, AND, the prize has been bumped up to $200! To sign up for the tournament, click here, download the software, sign up with NP, click on "tournaments" and then "schedule" and you will see "Casinocity.comFR"...read more

Downtown Las Vegas: Barrick Sells Casino Stakes

Fifteen months after announcing plans to restore and re-create the ambience of downtown Las Vegas, Barrick Gaming said Monday it would sell its minority holdings in four casinos -- once the centerpiece of casino pioneer Jackie Gaughan's real estate portfolio -- to a privately owned international investment company. No sale price was disclosed...read more

Forum Told How Wynn Structure Came to Rise so High

When it was decided that a 170-foot man-made mountain would be designed to shield Wynn Las Vegas from the noise and bustle of the Strip, landscape architect Don Brinkerhoff had all of a day to show resort developer Steve Wynn what the conceptual model would look like. Brinkerhoff, whose Newport Beach, Calif., company, Lifescapes International, designed the landscaping for The Mirage, Treasure Island and Bellagio, said the trick was making the mountain interesting for guests of Wynn Las Vegas. He told about 300 people attending Casino Design, a three-day conference that is part of a yearlong series sponsored by the producers of the Global Gaming Expo, that Wynn's mountain concept came early in the resort's development process. "It started out as something to hide the traffic," Brinkerhoff said Thursday...read more

Rebecca's Recommendations - June 24, 2005

Welcome to Rebecca’s Recommendations! I have created this weekly newsletter to share with you my favorite sites, bonuses, and special online gaming events that are out there for players like yourself. Before checking out my 3 casino recommendations of the week, I would like to leave you with 2 thoughts: 1) Noble Poker will be sponsoring a Freeroll Poker Tournament for Casino City players only on Sunday, July 3rd, at 5pm EST...read more

A Closer Look at Casino City's Appea

Casino City's primary goal in appealing its declaratory judgment case to the U.S. Court of Appeals for the Fifth Circuit is to obtain a ruling that the company does indeed present a First Amendment Issue. In February 2005 the Casino City case was dismissed by the Department of Justice at the district court level because the court declared that the company failed to present a case or controversy and that it does not have standing to present the case...read more

Study: Gambling Revenue Could Hit $100 Billion Soon

LAS VEGAS -- Revenue from legal casino gambling worldwide will top $100 billion by the end of the decade and Nevada's casino industry will continue to trump competition from American Indian tribes and regional gambling halls, PricewaterhouseCoopers projects in a study being released today. The report, "Pricewater-house Coopers' Global Enter-tainment and Media Outlook: 2005-2009," predicts that Nevada casinos will increase gaming revenue to $15.8 billion by 2009 from the $10.6 billion Nevada casinos earned in 2004. Advertisement Nationwide, the accounting firm predicts, casino gambling will flourish over the next five years, with revenue topping $64.1 billion in 2009, compared with $47.3 billion in 2004. "We don't have a crystal ball, but based on reliable resources and other statistical information, gaming revenues will continue to grow substantially," said Mary Lynn Palenik, director of development, research and analysis for PricewaterhouseCoopers' national gaming practice...read more

PartyGaming Float Still On Schedule

On June 15th Gibraltar-based PartyGaming published its 200-page flotation prospectus, which among other things revealed that the company would seek a market valuation between $8 billion and 9.2 billion (£4.4 billion and £5.1 billion). The valuation is significantly lower than the $10.5 billion (£5.8 billion) figure that the company originally indicated it would seek only a couple weeks ago...read more

Trump International Hotel Groundbreaking Set for July 12

Groundbreaking for Donald Trump's first planned Las Vegas development will be July 12, a spokesman for the New York real estate developer said Monday. The $500 million, 64-story Trump International Hotel and Tower, a nongaming complex, will be built behind the New Frontier Hotel across from the Fashion Show mall. "It will be a groundbreaking with all the festivities," said Tom Kennedy, a Las Vegas spokesman for Trump International...read more

MGM Mirage To Spend $170 Million on Video Lottery Casino

MGM Mirage will spend $170 million to build and operate a 4,500-machine video lottery casino at the Aqueduct Race Track outside New York City. Although the deal may not mean much for the gaming company's revenue, it could reduce customer traffic to Atlantic City. Deutsche Bank gaming analyst Marc Falcone predicted that MGM would generate between $10 million and $15 million a year in recurring cash flow from the management contract. While the contract's terms were not disclosed, Susquehanna Financial Group analyst Eric Hausler said in a note to investors thought the operation would be worth 2 cents per share in annual earnings based on $300 in win per unit per day. Gaming analysts said an expected 75 percent tax rate could affect MGM Mirage's earnings...read more