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Howard Stutz Gaming Guru - Page 135Nevada gaming revenues increase 1.8 percent in October; Strip up 3.6 percent10 December 2012
LAS VEGAS -- Going into October, analysts figured casinos statewide would have a tough time matching the gaming revenue results from a year ago. In October 2011, baccarat totals broke all monthly records with revenues increasing 74.3 percent, sending the state to an 8 percent overall revenue increase. ... (read more)
MGM Resorts in battle with Penn for lone western Massachusetts casino license10 December 2012
Those hoping the next cage match between Penn National Gaming, Inc. and MGM Resorts International will play out in Springfield, Mass., are going to be disappointed. The winner of a lone casino license in Western Massachusetts will be determined on merit and awarded to the company that can best deliver on its promises. ... (read more)
Social gaming giant Zynga seeks suitability from Nevada regulators7 December 2012
Social gaming giant Zynga Inc. filed an application for a preliminary finding of suitability with Nevada gaming regulators earlier this week as the San Francisco-based company looks to break into real money online gambling. The company, which makes free-play social games such as Words with Friends, FarmVille and Mafia Wars, has been hinting at finding a way to jump into the potential U.S. ... (read more)
Caesars Entertainment seeks to raise $300 million in new debt6 December 2012
LAS VEGAS -- Caesars Entertainment Inc. announced Wednesday it plans to issue $300 million in new debt at a 9 percent rate that would mature in 2020. The notes would be issued under the same agreements for debt the company issued in August. Caesars, which has almost $20 billion in long term debt, said it ... (read more)
Co-CEO of bwin.party announces retirement6 December 2012
LAS VEGAS -- The co-chief executive of the online gaming company that has partnership agreements with MGM Resorts International and Boyd Gaming Corporation announced his plans to retire next month. Jim Ryan, co-CEO of Gibraltar-based Bwin.party Digital Entertainment, said in a statement he would leave the world's largest online poker company Jan. ... (read more)
Nevada Gaming Control Board approves Caesars group for online poker website6 December 2012
LAS VEGAS -- A World Series of Poker real-money website based in Nevada took a step forward Wednesday. The Gaming Control Board tentatively approved Caesars Interactive Entertainment to operate online poker in Nevada. The company, the interactive arm of the Caesars Entertainment Corp., manages the promotion and advertising aspects of the annual World Series of Poker. ... (read more)
Z Capital tentatively found suitable to invest in Affinity Gaming6 December 2012
LAS VEGAS -- Z Capital, an Illinois-based private equity firm, was tentatively found suitable by the Gaming Control Board on Wednesday to invest in casino operator Affinity Gaming. The Nevada Gaming Commission will rule Dec. 20 on the recommendation. Suitability is one step below actual licensing. ... (read more)
Bill Hornbuckle tapped as president of MGM Resorts5 December 2012
LAS VEGAS -- (PRESS RELEASE) -- Longtime gaming industry executive Bill Hornbuckle on Tuesday was named president of MGM Resorts International, essentially becoming the No. 2 person in the casino company's hierarchy. Hornbuckle, 54, will continue to serve as the chief marketing officer of MGM Resorts, a position he has held since 2009. ... (read more)
Macau: Cash cow for Nevada gaming companies4 December 2012
LAS VEGAS -- Despite a slowing Asian economy and changes in the Chinese government, Macau casinos continue to churn out record gaming figures, a fact for which investors in three Nevada gaming companies are forever thankful. With a month left in 2012, most gaming analysts expect Macau to post an annual ... (read more)
Tribe with Station Casinos agreement gains OK for project4 December 2012
A California Indian tribe that has a nearly decade-old management agreement for Station Casinos, Inc. to operate a proposed casino received federal approval late Friday to build the project on 305 acres near Fresno. The bureau, through the U.S. Department of Interior, agreed to transfer the land acquired by the North Fork Rancheria of Mono Indians into a trust for the planned casino. ... (read more)
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