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Howard Stutz Gaming Guru - Page 138Poker Hall of Fame inductee Eric Drache saw short future with Wynn13 November 2012
LAS VEGAS -- Eric Drache had one thought when then-Golden Nugget executive Bobby Baldwin suggested he manage the Fremont Street casino's poker room in the early 1980s. How long could he last working for Steve Wynn? Baldwin, the 1978 World Series of Poker champion, thought Drache, who was the annual tournament's director, could give Wynn's poker facility a much needed lift. ... (read more)
Fitch affirms view of Boyd, downgrades Borgata13 November 2012
Fitch Ratings affirmed its view of Boyd Gaming Corporation, but downgraded the company's Borgata Hotel and Spa in Atlantic City in light of impact on the market from Hurricane Sandy and increased competition. Boyd owns 50 percent of the Borgata and operates the hotel-casino. MGM Resorts International owns ... (read more)
Pinnacle's casino development in Vietnam in jeopardy13 November 2012
Pinnacle Entertainment, Inc.'s $114 million investment in a casino development in Vietnam is in jeopardy after it was disclosed the development company in charge of the project is in default. The Las Vegas-based regional casino operator disclosed the issue in the company's quarterly earnings filing Friday with the Securities and Exchange Commission. ... (read more)
Stratosphere, Arizona Charlie's parent reduces loss12 November 2012
LAS VEGAS -- The parent company of the Stratosphere Casino Hotel and Tower and the two Arizona Charlie's casinos lowered its net loss in the third quarter despite a slight decline in revenues. American Casino & Entertainment Properties, LOLC said Friday its net loss for the three months that ended Sept. ... (read more)
Murren signs new contract agreement with MGM Resorts International12 November 2012
LAS VEGAS -- MGM Resorts International Chairman and Chief Executive Officer Jim Murren signed a new employment agreement with the Strip casino giant that keeps him in his current position through 2016. In a filing with the Securities and Exchange Commission late Thursday, the agreement calls for Murren to ... (read more)
Observers see Toronto as next battleground for gambling companies12 November 2012
A study by UNLV's International Gaming Institute concluded a resort complex featuring a hotel, casino, convention space and other entertainment amenities in the heart of Toronto could stimulate the economy of Canada's largest city. Instead of cannibalizing the market, the complex would spur growth for any surrounding businesses. ... (read more)
Inside Gaming: Piles of cash, torrents of tweets and lots of crazy - gaming's political lunacy12 November 2012
Hard as it seems, Peter Carlino and the folks at Penn National Gaming, Inc. outdid Sheldon Adelson, Steve Wynn and Donald Trump in terms of political lunacy this year. And it only cost the regional gaming giant $42 million to embarrass itself. Adelson, chairman and chief executive officer of Las Vegas ... (read more)
Football tops baccarat as Nevada gaming revenues rise 3.3 percent9 November 2012
LAS VEGAS -- Forget about baccarat for at least one month. Football wagering revenues offset declines in baccarat results during September, propelling Nevada to a modest gaming revenue increase. Statewide, casinos collected $892.7 million in gaming revenues in September, a 3.3 percent increase compared to ... (read more)
Maryland vote dismays casino operator Penn National8 November 2012
Penn National Gaming, Inc. said Wednesday that it was "disappointed" that Maryland's Question 7 casino expansion issue was passed by voters after the company took part in funding the most costly campaign in state history. After investing more than $42 million into a failed effort to defeat Question 7, which ... (read more)
After enduring $90 million fight, Maryland voters OK new casino7 November 2012
Maryland voters approved a new casino Tuesday after the most expensive political campaign ever witnessed in the state. With 94 percent of precincts reporting, Maryland residents favored Question 7 by a vote of 51.6 percent to 48.4 percent. The measure will place a new casino in suburban Prince George's County. ... (read more)
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