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Howard Stutz Gaming Guru - Page 120Las Vegas Sands, outside auditing firm part ways30 April 2013
LAS VEGAS -- Las Vegas Sands Corp. parted ways with the company’s longtime outside auditing firm but analysts said Monday that investors shouldn’t speculate beyond the announcement. In a filing with the U.S. Securities and Exchange Commission late Friday, Las Vegas Sands said Pricewaterhouse Coopers had resigned as the company’s auditor on April 23. ... (read more)
Ameristar Casinos shareholders OK company's sale to Pinnacle Entertainment29 April 2013
Ameristar Casinos, Inc. shareholders on Thursday approved the company’s sale to rival regional gaming giant Pinnacle Entertainment, Inc. on a nearly unanimous vote. Pinnacle announced plans in December to acquire Ameristar’s eight casinos in Northern Nevada, Missouri, Iowa, Colorado, Mississippi and ... (read more)
Careful, this new job could get dangerous29 April 2013
Overseeing the American Gaming Association (AGA) is not like herding cats. It’s more like herding mountain lions. One misstep and you’ll lose body parts. I wonder if anyone informed Geoff Freeman of this job description. Last week, Freeman, 38, left a seven-year position as the No. 2 official with the U.S. ... (read more)
A battle as tough as Philly itself29 April 2013
PHILADELPHIA -- When the $550 million SugarHouse Casino opened 28 months ago on a Delaware River waterfront site in South Philadelphia, opponents of the project worried that local businesses would suffer. Kathy Smith said she hasn’t noticed one bit of difference. Smith, a tough-talking, streetwise native ... (read more)
Penn National grows quarterly revenues, but profits decline19 April 2013
M Resort owner Penn National Gaming, Inc. said Thursday it grew revenues more than 8 percent in the first quarter, but saw year-over-year declines in net income and earnings per share. The regional casino giant, which announced plans recently to build an Indian casino near San Diego, said its overall ... (read more)
MGM has grand plans with trendy plaza, sports arena18 April 2013
LAS VEGAS -- MGM Resorts International will spend $100 million to transform land along the Strip and surrounding the New York-New York and Monte Carlo resorts into an outdoor plaza and pedestrian mall with trendy shops, restaurants and a public park. The plaza will serve as a gateway into a 20,000-seat ... (read more)
American Gaming Association selects new president18 April 2013
The American Gaming Association (AGA) on Wednesday named just its second president to lead the nearly 20-year-old Washington, D.C.-based organization that serves as the industry’s voice on Capitol Hill. Geoff Freeman, 38, who has 16 years of association leadership and public affairs experience, including the past seven years with the U.S. ... (read more)
Toronto casino passes first test, but still faces uphill battle18 April 2013
A committee of Toronto City Council members Wednesday approved a single casino-resort complex to be located in Canada’s largest city, but the proposal faces an uphill battle in front of the full panel. The development, which has drawn interest from MGM Resorts International, Caesars Entertainment Corp., and Las Vegas Sands Corp., is backed by Toronto Mayor Rob Ford. ... (read more)
Chad Elie, convicted in Internet poker scheme, sues lawyer16 April 2013
LAS VEGAS -- The only Las Vegas resident charged in the federal government’s two-year-old “Black Friday” crackdown on Internet poker is suing his former attorney. Chad Elie, who is serving time in federal prison, said in a 22-page lawsuit filed in Clark County District Court that his former lawyer committed ... (read more)
Investment firm makes offer for Laughlin casino operator Archon Corp.16 April 2013
A Boston-based investment management company has proposed a $101.5 million buyout of Laughlin casino operator Archon Corporation. Esplanade Capital, which says it is the second-largest outside shareholder in Archon, proposed the buyout offer last month to Archon’s board of directors. The company offered ... (read more)
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