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Howard Stutz Gaming Guru - Page 147Nevada gaming revenues decline 6 percent in June; Strip down 4.5 percent10 August 2012
LAS VEGAS -- For one month, Northern Nevada has bragging rights.
Casinos in Washoe County and Reno combined for large single-month gaming revenue increases during June as Clark County and Strip figures fell.
Results in the north weren't enough to push the month into the positive column. Gaming ... (read more)
South Point could be testing online poker by October9 August 2012
LAS VEGAS -- The South Point Hotel Casino and Spa could be ready to shuffle up and deal on the Internet sometime this fall. State gaming regulators Wednesday granted Michael Gaughan's Las Vegas casino tentative approval to operate an online poker website accessible only within Nevada boundaries. South ... (read more)
MGM Resorts chairman: Company strongest in three years8 August 2012
LAS VEGAS -- MGM Resorts International Chairman Jim Murren told investors Tuesday that the casino operator is in its strongest financial position at any point in the past three years, and operating trends are continuing to improve.
The timing of that comment might seem odd: MGM said it lost $145.5 ... (read more)
World Series of Poker, born in smoky poker room, now a phenomenon7 August 2012
What would Benny Binion think? The legendary downtown Las Vegas casino owner enticed some the best poker players to his family's Horseshoe Casino on Fremont Street in 1970 for several days of high-stakes cash games inside the property's dark and smoky poker room. That idea evolved into the World Series of Poker. ... (read more)
Caesars' quarterly net loss widens as customers spend less7 August 2012
Caesars Entertainment Inc. widened its second-quarter net loss as customers in Las Vegas spent less and the company's Atlantic City casinos continued to be challenged by competition from within and from neighboring markets.
Despite a disappointing three months, Caesars touted its various expansion ... (read more)
Ameristar Casinos posts quarterly gain on declining revenues6 August 2012
Regional gaming operator Ameristar Casinos, Inc. reversed 2011's second-quarter net loss, but saw a decline in revenues because of increased competition and other factors, according an earnings report released Wednesday.
The Las Vegas-based company, which has eight hotel-casinos, reported that its net income for the three months that ended June 30 was $17.6 million, or 51 cents per share. ... (read more)
Social gaming expands for slot machine maker IGT6 August 2012
The casino industry is trying to get a grasp on the growing social gaming phenomena. Slot machine giant International Game Technology (IGT) is offering its DoubleDown social gaming website to casino operators interested in exploring the process. IGT, which acquired DoubleDown in January for $500 million, ... (read more)
Caesars Palace to unveil the $17 million Bacchanal Buffet next month6 August 2012
Caesars Palace is bringing back the Bacchanal Room — sort of. The Strip casino will unveil the Bacchanal Buffet next month, a $17 million endeavor that will offer more than 500 menu items from nine kitchens with a setting that overlooks the hotel’s Garden of the Gods complex. The 25,000 square-foot Bacchanal Buffet will have seating for 600 guests. ... (read more)
Investors ask where Adelson's focus is6 August 2012
A few days after Las Vegas Sands Corp. disappointed investors with quarterly earnings declines that sent the company's share price tumbling and had analysts breaking out in a cold sweat, Chairman and CEO Sheldon Adelson jetted to Israel to watch presumptive Republican presidential nominee Mitt Romney deliver a speech in Jerusalem. ... (read more)
PokerStars, Justice Department reach settlement1 August 2012
Internet gaming giant PokerStars will forfeit $731 million to the U.S. government over the next three years to settle a criminal complaint with the Department of Justice, although the company admits no wrongdoing as alleged in the April 2011 "Black Friday" indictments.
Some of the settlement will be used to refund money owed to U.S. ... (read more)
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