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Howard Stutz Gaming Guru - Page 182Gaming industry turns eyes to Illinois6 June 2011
SPRINGFIELD, Illinois -- Illinois traveled from afterthought to red hot on the gaming expansion scale in a matter of days last week.
Still to be answered, however, is how gaming will play out in the state.
Will Illinois become the next Pennsylvania, a case study for casino expansion where revenues ... (read more)
Pennsylvania casino targets Asian market6 June 2011
BETHLEHEM, Pennsylvania -- During a tour of Pennsylvania casinos, Credit-Suisse gaming analyst Joel Simkins called the Las Vegas Sands Corp. owned Sands Casino Resort Bethlehem a “mini Macau.” The term seemed apropos. Las Vegas Sands is the dominant U.S.-based gaming operator in Macau with three resorts and several others in various stages of development. ... (read more)
Penn National officially acquires M Resort3 June 2011
LAS VEGAS, Nevada -- Penn National Gaming officially acquired M Resort on Wednesday after Nevada gaming regulators approved the deal last month. The regional casino and racetrack operator, which is based in Wyomissing, Pa., took control of the 390-room hotel-casino after purchasing the debt covering the 2-year-old M Resort at a nearly 75 percent discount last October. ... (read more)
Macau gaming revenues hit $3 billion in May3 June 2011
MACAU -- The opening of a new resort sent Macau's gaming revenues in May, hitting $3 billion for the first time. According to figures released Wednesday by gaming authorities in the special administrative region, Macau casinos' gaming revenues jumped 42 percent over May 2010 and 19 percent above April's previous one-month record. ... (read more)
Gaming stocks show modest increases in May1 June 2011
LAS VEGAS, Nevada -- A smattering of good news coming from the gaming industry during May boosted the spirits of investors.
Gaming stocks as a whole showed modest increases in their average daily prices during May, the fourth such occurrence in the first five months of 2011.
In a report to clients, ... (read more)
Kassela hopes to repeat success in this year's WSOP31 May 2011
LAS VEGAS, Nevada -- Frank Kassela is a throwback among poker players. He didn't learn the intricacies of the game from a computer screen in the comfort of his own home, like many of today's Internet poker prodigies. Instead, Kassela, 43, picked up his poker skills at casinos in Tunica, Miss. The lessons paid off. ... (read more)
Crackdown on Internet sites could hurt WSOP31 May 2011
LAS VEGAS, Nevada -- Since Caesars Entertainment (formerly Harrah's Entertainment) acquired the World Series of Poker in 2004, participation at the annual tournament has grown almost 10-fold. The prize pool over the past five years is $861 million, more than double the total prize pool of the tournament's first 36 years. ... (read more)
MGM IPO raises $1.4 billion in Macau31 May 2011
MACAU -- A long-anticipated stock sale by MGM Resorts International on the Hong Kong Stock Exchange raised $1.4 billion in Asian markets Friday and left the Las Vegas gaming company with a controlling 51 percent stake in the MGM Grand Macau. The initial public offering, under the subsidiary MGM China, was priced at the top of its indicative range. ... (read more)
Pinnacle to develop Vietnamese resort27 May 2011
HO CHI MINH CITY, Vietnam -- Pinnacle Entertainment, known for its hotel-casinos in Louisiana and St. Louis, surprised investors Thursday by becoming involved in a resort development in Vietnam. Las Vegas-based Pinnacle said it would spend $95 million to acquire a 26 percent interest in the company developing the Ho Tram Strip project, approximately 80 miles southeast of Ho Chi Minh City. ... (read more)
Station Casinos seeks control of Nevada casino25 May 2011
LAS VEGAS, Nevada -- Station Casinos Inc. today will ask a bankruptcy court judge in Reno to sign off on its plan to take control of Green Valley Ranch Resort, Spa and Casino. The Las Vegas-based gaming company last month filed a prepackaged Chapter 11 bankruptcy reorganization plan for Green Valley Ranch ... (read more)
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