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Howard Stutz Gaming Guru - Page 134Atlantic City in for economic storm17 December 2012
It can't get any worse for Atlantic City. Can it? Last week's news that November gaming revenues at Atlantic City's 12 casinos suffered their worst single-month decline in the New Jersey community's 34-year history of legalized gaming had to be the low point. Or was it? Granted, Superstorm Sandy, which ... (read more)
Analyst gives MGM Resorts edge over Penn National in race for Massachusetts gaming license17 December 2012
Representatives from Penn National Gaming, Inc. and MGM Resorts International made a pitch last week to residents of Springfield, Mass., as the companies compete for the sole casino license in the western part of the state. Credit Suisse gaming analyst Joel Simkins attended the town hall-style meeting and ... (read more)
Bally's new CEO a familiar face who assures Wall Street of the company's continued success17 December 2012
Bally Technologies, Inc.’s new chief executive officer has been making the rounds with the analyst community, although Ramesh Srinivasan happens to be a familiar face in a new role. Srinivasan was named CEO last month, replacing Richard Haddrill, who will become the company’s chairman. The changes take effect Dec. ... (read more)
Caesars taps general manager for High Roller observation wheel12 December 2012
LAS VEGAS -- Caesars Entertainment Inc. named Eric Eberhart as general manager of the Las Vegas High Roller observation wheel, the centerpiece of the company's $550 million Linq development. Eberhart most recently served as principal of an Orlando, Fla., entertainment consulting firm. One of his most recent projects involved Disney's California Adventure. ... (read more)
MGM Resorts plans celebration of its workforce diversity12 December 2012
LAS VEGAS -- MGM Resorts International employees will take over the Mandalay Bay Resort & Casino Events Center later this month for a Strip-style production to celebrate the casino operator's workforce diversity. The company, which operates 10 Strip resorts and employs more than 50,000 workers at resorts in ... (read more)
Arguello-Kline becomes first female Hispanic leader of Culinary12 December 2012
LAS VEGAS -- Culinary Workers Local 226 promoted Geoconda Arguello-Kline, a former housekeeper and Nicaraguan refugee, to become the organization's secretary-treasurer. The appointment was announced Tuesday. Arguello-Kline becomes the first female and first Hispanic to lead the 60,000-member union that represents hotel and restaurant workers in Las Vegas. ... (read more)
Wolfgang Puck marks Las Vegas milestone12 December 2012
LAS VEGAS -- Twenty years ago, Wolfgang Puck would go home at night to a small apartment he rented near the Strip with a bottle of red wine to help nurse his pain. A week into the opening of his first Spago restaurant outside of Los Angeles, Puck wondered whether the naysayers had actually been correct. ... (read more)
A slow path back - Limited slate of development projects, Internet poker debate will occupy gaming in 201311 December 2012
LAS VEGAS -- The Linq won't be confused with CityCenter. Then again, analysts have said the last thing the Strip needs right now is another massive hotel-casino complex. The Las Vegas gaming market is still in economic recovery mode after the recession sent gaming figures crashing back to 2004 levels. ... (read more)
Analyst boosts view of Boyd Gaming, Peninsula purchase "strengthens" casino operator11 December 2012
Credit Suisse gaming analyst Joel Simkins reinstated coverage of Boyd Gaming Corporation following the closure last month of the company’s $1.45 billion acquisition of Peninsula Gaming Corporation. The transaction gave Boyd ownership of five casinos in three states, including the Kansas Star near Wichita, Kan. ... (read more)
PokerStars potential purchase of Atlantic City casino offers many questions10 December 2012
The idea that online gaming giant PokerStars would buy the struggling The Atlantic Club Hotel-Casino in Atlantic City brings additional intrigue into the ongoing Internet gambling legalization debate. The Wall Street Journal reported Thursday that PokerStars is negotiating to purchase the Boardwalk property from private equity group Colony Capital for less than $50 million. ... (read more)
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