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Howard Stutz Gaming Guru - Page 105Power restored at Flamingo after hotel construction causes outage12 August 2013
LAS VEGAS -- Power at portions of the Flamingo Las Vegas were out most of Friday in connection with construction of the neighboring $180 million Gansevoort Hotel. Electric power was interrupted to one of the six hotel towers at the Flamingo but restored just before 3 p.m. Caesars Entertainment Inc.. ... (read more)
Company owned in part by Agassi agrees to $15,000 gaming fine12 August 2013
LAS VEGAS -- A company owned in part by retired tennis star Andre Agassi has agreed to pay a $15,000 fine for violating state gaming regulations. The Gaming Control Board filed a three-count complaint on Wednesday against Agassi and Adam Corrigan. Their company, Flamingo Investments, owns and operates the Sedona Lounge on West Flamingo Road near the Las Vegas Beltway. ... (read more)
Romance off: Caesars sells Macau land holdings for $438 million12 August 2013
Caesars Entertainment Inc. on Friday ended the company’s nearly six-year flirtation with Macau. The casino operator sold its 175-acre golf course near the Chinese gaming enclave’s Cotai Strip region for $438 million to an Asian developer. The deal, which was disclosed within the company’s quarterly report filing with the U.S. ... (read more)
Station Casinos sees double-digit growth in profits8 August 2013
Station Casinos, Inc. grew profits 11 percent in the second quarter but didn’t disclose what percentage of the company’s overall figures came from online poker. The casino operator, which has 16 large and small gaming properties in the Las Vegas Valley, said Wednesday that the quarter marked the company’s ninth consecutive three-month period of increased cash flow. ... (read more)
Hacienda ownership confirms sale to Dotty's operators7 August 2013
The ownership of the Hacienda Hotel and Casino near Boulder City confirmed Tuesday that it sold the hotel-casino to the operators of the Dotty’s statewide chain of taverns. A sales price was not disclosed by the Lakeview Company, which said the Hacienda employees were told the property and surrounding land had been sold to Nevada Restaurant Services Inc., which owns the Dotty’s brand. ... (read more)
Caesars taps new regional president to oversee three Strip properties7 August 2013
LAS VEGAS -- Caesars Entertainment Inc. shuffled its Las Vegas and Atlantic City resort management executives Tuesday, moving a regional president from the Strip to the East Coast. The company, which has 10 properties on or near the Strip, said Eileen Moore, currently president of the company’s Mid-North Regional Division, will come to Las Vegas to oversee three casinos. ... (read more)
MGM Resorts narrows second-quarter net loss, grows revenues7 August 2013
LAS VEGAS -- MGM Resorts International narrowed its second-quarter net loss but improved revenues companywide, which included a 3.4 percent hike from customer spending on the Strip. The results gave Wall Street renewed hope of a potential casino market turnaround. The casino operator, which controls 10 ... (read more)
M Resort closes 14-table poker room6 August 2013
LAS VEGAS -- M Resort closed its 14-table poker room last week to make space for additional slot machines that will be used for tournament play. Rina Foster, a spokeswoman for the casino, said employees displaced by the closure were offered other jobs, although she wasn’t sure how many were moved to new positions. ... (read more)
Slot machine maker IGT expands board by two members6 August 2013
Five months after a contentious proxy fight threatened to shake up IGT - International Game Technology’s board of directors, the company announced it has expanded the governing panel by two members. In separate statements released Friday, the slot machine giant said two new members, both with experience in the technology sector, have been appointed to the board. ... (read more)
Gambling's expansion has Multimedia Games on cusp of cracking manufacturing's upper echelon5 August 2013
It seems laughable now in hindsight. Slot machine maker Multimedia Games, Inc. was for sale in 2010 and couldn’t attract a buyer. Today, it’s the hottest commodity for the gaming industry investment community. “We’re an exciting growth story in gaming, and there aren’t too many of those, to be honest,” ... (read more)
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