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Howard Stutz Gaming Guru - Page 163Moody's: Las Vegas Strip gaining traction in recovery20 March 2012
LAS VEGAS, Nevada -- The Strip is "gaining traction" in its economic recovery, but rising fuel costs could set back any financial healing in the market, an analyst for bond rating agency Moody's Investors Service said.
In a report released Monday, Moody's gaming analyst Peggy Holloway said increased ... (read more)
Las Vegas the epicenter of madness16 March 2012
LAS VEGAS. Nevada -- There was a time when Greg Devitt of California had to wake up at 3:30 a.m. just to secure a seat in the Caesars Palace sports book to watch the opening rounds of the NCAA Tournament. One year, he didn't tell his friend, Doug Roberts of New York, that sleeping in the sports book was frowned upon, especially at that time of morning. ... (read more)
MGM Resorts raises $1 billion in unsecured 10-year bonds16 March 2012
LAS VEGAS. Nevada -- MGM Resorts International issued $1 billion in unsecured 10-year bonds Thursday at the lowest interest rate the company has seen since 2007. The transactions marked the first time since the recession the company did not have to use its casinos as collateral.
A source said the issuance was the largest unsecured bond offering accomplished in the company's history. ... (read more)
Gaming industry staying away from Las Vegas Strip13 March 2012
LAS VEGAS, Nevada -- The gaming industry has written off resort expansion along the Strip for the rest of the decade. The focus is on nongaming attractions, such as the $550 million Project Linq, which is being developed by Caesars Entertainment Corp. between the Flamingo Las Vegas and the soon-to-be-renamed Imperial Palace Hotel & Casino. ... (read more)
Parallels drawn with Epic Poker League and UFL12 March 2012
LAS VEGAS, Nevada -- There are similarities in the troubles that befell the Epic Poker League and the United Football League, both of which tanked their seasons after running into financial woes. What is also true is that neither failure had anything to do with the popularity of their particular sport or activity. ... (read more)
Nevada gaming revenues top $1 billion in January9 March 2012
LAS VEGAS, Nevada -- They're not throwing cold water on the first time in more than three years that Nevada casinos have collected more than $1 billion in gaming revenues in a single month, but analysts want to see February's gaming revenues before starting the celebration.
Thanks to a calendar change ... (read more)
Bally, Aristocrat reach online poker agreement7 March 2012
LAS VEGAS, Nevada -- Slot machine makers Bally Technologies and Aristocrat Technologies will team up to capitalize on the potential for legalized Internet gaming in the U.S.
The companies on Tuesday jointly announced a deal to offer the same third-party poker networks as part of their business-to-business Internet gaming products for U.S. ... (read more)
Indian gambling revenues jump 1.3 percent in 20106 March 2012
LAS VEGAS, Nevada -- Following a one-year slide, gaming revenues produced by the nation's Indian casino market grew 1.3 percent in 2010 to $26.73 billion, the highest single-year figure ever produced by the segment of the American gambling industry.
The increase came about despite a 2.5 percent decrease ... (read more)
Shuffle Master purchases Ongame Network6 March 2012
LAS VEGAS, Nevada -- Shuffle Master Gaming announced Monday it agreed to acquire Ongame Network Ltd., a European-based provider of online poker products, for almost $28.5 million.
The Las Vegas-based table game and gambling equipment vendor said the transaction will allow the company to expand its online product offerings in regulated online gaming markets. ... (read more)
Internet poker not in the cards for 20125 March 2012
LAS VEGAS, Nevada -- It's only March, but prospects for federal legalization of Internet poker this year have faded quicker than hopes of drawing an ace on the river card. When Congress failed to attach online gaming legislation to the payroll tax cut extension in early February, many proponents mucked their hands. ... (read more)
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