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Howard Stutz Gaming Guru - Page 109Casino projects in Russian port of Vladivostok draw investment from Macau22 July 2013
The up and coming Russian casino market of Vladivostok scored its first big-name participant. Lawrence Ho, the son of Hong Kong billionaire and Macau casino giant Stanley Ho, said his two companies would spend $630 million to buy a 51 percent stake in a business building two casino resorts in the Primorye Region near China’s border. ... (read more)
Louisiana regulators OK Pinnacle buyout of Ameristar19 July 2013
LAS VEGAS -- Louisiana gaming regulators approved Pinnacle Entertainment, Inc.’s $2.8 billion buyout of Ameristar Casinos, Inc., Thursday, paving the way for the eventual sale of a $580 million project in the western part of the state. The approval allows Ameristar to transfer its interest in the Lake ... (read more)
Union tactics threaten Las Vegas nursing conference18 July 2013
LAS VEGAS -- Helene Neville is a nurse and fitness coach who survived cancer four times, runs races across the country, wrote two books, and dedicated her life to promoting “health care givers providing healthy care.” But the recent Las Vegas transplant found herself smack in the middle of the bitter, long-standing labor dispute between Station Casinos, Inc. ... (read more)
Massachusetts voters approve MGM Resorts casino plan17 July 2013
Voters in Springfield, Mass., approved a plan Tuesday by MGM Resorts International to build an $800 million hotel-casino complex in the community. Voter approval was required before Las Vegas-based MGM Resorts could apply to the state Gaming Commission for a single casino license in western Massachusetts. ... (read more)
Bally Technologies to acquire SHFL entertainment for $1.3 billion17 July 2013
All of a sudden, it’s mergermania in the gaming industry. A third major transaction in eight months was announced Tuesday when slot machine manufacturer Bally Technologies, Inc. said it will acquire gaming equipment provider SHFL Entertainment for $1.3 billion. Bally, one of the gaming industry’s largest ... (read more)
Report: Las Vegas Sands could delay EuroVegas16 July 2013
LAS VEGAS -- Las Vegas Sands Corp. could delay development of a planned $22 billion resort complex in Spain unless the government lifts a ban on smoking inside casinos, a wire service reported. However, in a statement to Spanish media last week, the company said reports that the proposed development was not ... (read more)
Pinnacle plans to raise $800 million to complete Ameristar buyout16 July 2013
LAS VEGAS -- Pinnacle Entertainment, Inc. announced plans Monday to raise up to $800 million in new debt to help the company complete its buyout of regional gaming rival Ameristar Casinos, Inc. In separate announcements, Las Vegas-based Pinnacle said it was seeking commitments for a $1.6 billion term loan and a $1 billion revolving credit agreement, along with the sale of $800 million in bonds. ... (read more)
Bold move has Caesars on top15 July 2013
The Empire put a hit on the Mafia and buried the farm. Two years after Caesars Entertainment Corp. perplexed Wall Street by acquiring social gaming operation Playtika, the casino giant has moved past rival Zynga Inc. to the top of the business model. Social casino games are free to play on the Internet, through Facebook and other platforms. ... (read more)
Expansion, cash, focused on the other Strip - in Cotai15 July 2013
Casino developers — including MGM Resorts International, Las Vegas Sands Corp. and Wynn Resorts, Limited — will spend some $22 billion on massive new resorts and gambling complexes in Macau over the next four years. On the Strip, four developments are under construction. Total cost: roughly $1.6 billion. ... (read more)
Parisi named as chairman of Affinity Gaming15 July 2013
Affinity Gaming, which went through a contentious proxy battle in May, announced Friday a representative of the company’s second largest shareholder would become the casino operator’s new chairman. Richard Parisi, a senior investment professional with Connecticut-based hedge fund Silver Point Capital, was named board chairman, replacing Don Kornstein. ... (read more)
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