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Howard Stutz Gaming Guru - Page 189Tax ruling benefits gamblers15 March 2011
LAS VEGAS, Nevada -- Professional gamblers are now able to deduct business expenses incurred as part of their job. The catch, however, is determining what constitutes a professional gambler. A January ruling by the U.S. Tax Court changed a portion of a half-century-old opinion that equated expenses related ... (read more)
Moneymaker happy to be back in spotlight15 March 2011
LAS VEGAS, Nevada -- Without Chris Moneymaker, there wouldn't be a National Heads-Up Poker Championship. For that matter, if it wasn't for Moneymaker we might not even be talking about poker. His story has become legend. Moneymaker, an unknown Tennessee accountant, won a $39 satellite tournament on the Internet gambling site PokerStars in 2003. ... (read more)
Sahara casino to shut down in May14 March 2011
LAS VEGAS, Nevada -- Michael McClendon, a poker room supervisor at the Sahara Hotel and Casino, wasn't surprised when he was called into a meeting at 7:30 a.m. with other employees and was told the nearly 60-year-old Strip resort would cease operations in May. McClendon, who recently celebrated 25 years at the casino, said the announcement Friday shouldn't have been unexpected. ... (read more)
Former Gaming Control Board member a PokerStars consultant14 March 2011
LAS VEGAS, Nevada -- Former Gaming Control Board member Randall Sayre wasn't at the Sawyer Building last week to critique his former employer. He was there to learn. Sayre watched intently from a corner of the packed hearing room as regulators said a deal between Caesars Entertainment Corp. and online gaming provider 888 Holdings was suitable by Nevada standards. ... (read more)
Analyst says earthquake won't affect Macau, Singapore14 March 2011
LAS VEGAS, Nevada -- A Wall Street researcher attempted to temper investors’ concerns surrounding how the tragic events last week in Japan might fall over into Macau and Singapore.
Wells Fargo Securities gaming analyst Carlo Santarelli said the impact surrounding Japan’s horrific earthquake and tsunami shouldn’t be felt by gaming operations in Asia. ... (read more)
Nevada gaming revenue drops in January11 March 2011
LAS VEGAS, Nevada -- Something happened on the way to the Strip's economic recovery.
Reality set in.
Nevada gaming revenues fell less than 1 percent in January, according to figures released Thursday by the state Gaming Control Board.
But more frustrating to gaming analysts was the 2.5 percent ... (read more)
Las Vegas Sands making quiet push for Florida casinos8 March 2011
LAS VEGAS, Nevada -- A proposal that could create five Las Vegas-style casinos in Florida's largest cities could lead to a $1 billion to $2 billion investment by Las Vegas Sands Corp., which is exploring a potential resort development in Miami. The casino operator has been working behind the scenes with ... (read more)
Adelson: Sands will spend $21 billion in Spain8 March 2011
LAS VEGAS, Nevada -- Las Vegas Sands Corp. Chairman and Chief Executive Officer Sheldon Adelson put a dollar figure on what the casino operator would spend to build a gaming destination in Spain.
$21 billion.
Adelson told the El Mundo newspaper in Madrid the project would be a mini-version of the Las Vegas Strip and would include roughly a dozen hotel-casinos. ... (read more)
Caesars Palace to renovate hotel tower7 March 2011
LAS VEGAS, Nevada -- Caesars Palace will turn over one of the property's oldest hotel towers to Nobu Hospitality, which will renovate the 180-room building into a boutique hotel within the confines of the Strip resort. In a deal to be announced today, the Centurion Tower at Caesars will undergo a year-long transformation into the Nobu Hotel Las Vegas. ... (read more)
Pinnacle CFO announces resignation Friday4 March 2011
LAS VEGAS, Nevada -- The chief financial officer of Pinnacle Entertainment announced his resignation this morning and the regional casino operator said it would have a new person in place by March 31.
In a statement, Las Vegas-based Pinnacle said Stephen Capp had resigned to pursue new opportunities. ... (read more)
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