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Howard Stutz Gaming Guru - Page 190Sands shares drop after probe is revealed2 March 2011
LAS VEGAS, Nevada -- A revelation that the U.S. Securities and Exchange Commission and the Department of Justice have opened investigations into Las Vegas Sands Corp. sent shares of the casino operator tumbling more than 6 percent Tuesday.
The agencies have asked Las Vegas Sands, which operates casinos ... (read more)
Macau casinos collect $2.5 billion in February1 March 2011
MACAU -- Macau's casino industry in February, helped by the Chinese New Year holiday, collected roughly $2.5 billion in gaming revenues during month.
Macau's Gaming Inspection and Coordination Bureau reported this morning the revenues were a 48 percent increase compared with February 2010.
... (read more)
February a mixed bag for gaming stocks1 March 2011
LAS VEGAS, Nevada -- February provided a mixed bag of results for the gaming industry.
Just four of the 10 publicly traded casino operators and slot machine manufacturers charted by Las Vegas-based financial adviser Applied Analysis saw increases in their average daily stock prices during the month. ... (read more)
Survivor star debuts table game in Vegas1 March 2011
LAS VEGAS, Nevada -- Rich Lemon, casino manager of table games at the Golden Nugget, has witnessed dozens of potential gambling concepts fall by the wayside. So when a developer walked into a meeting at the downtown hotel-casino last September "looking like Grizzly Adams wearing a tie-dye T-shirt," Lemon was naturally skeptical. ... (read more)
Casinos rename their corporations for many reasons28 February 2011
LAS VEGAS, Nevada -- In the corporate world, companies that change their names are usually trying to fool consumers and investors into forgetting past misdeeds.
Tarnished accounting firm Arthur Andersen became Accenture.
Scandalized telephone carrier WorldCom is now MCI.
The public wasn't duped. ... (read more)
Pinnacle interested in move to Strip25 February 2011
LAS VEGAS, Nevada -- Regional casino operator Pinnacle Entertainment said Thursday it was considering a marketing alliance with a Strip casino company.
Las Vegas-based Pinnacle doesn't have a Strip property, so it is looking to negotiate a partnership that would have reciprocal rewards to draw visitors to its regional casinos in Louisiana, Missouri and Indiana. ... (read more)
Caesars seeking $400 million to finish tower25 February 2011
LAS VEGAS, Nevada -- Caesars Entertainment Corp. said Thursday it is seeking $400 million in financing to complete an unfinished hotel tower at Caesars Palace and develop a retail, dining and entertainment corridor on the Las Vegas Strip. In a filing with the Securities and Exchange Commission, the company ... (read more)
Galaxy Gaming acquires TableMAX Gaming25 February 2011
LAS VEGAS, Nevada -- Las Vegas-based table game provider Galaxy Gaming announced Thursday it has essentially acquired a rival company. In a statement, Galaxy said it entered an agreement with TableMAX Gaming to secure the rights to sell electronic versions of table games Caribbean Stud, Caribbean Draw, Progressive Blackjack, Texas Hold 'em Bonus and Blackjack Bullets. ... (read more)
Moody's says Strip recovery won't begin until 201225 February 2011
LAS VEGAS, Nevada -- It will take at least a year for the new supply of Las Vegas hotel rooms to be absorbed into the market, a new report Thursday from Moody's Investors Service said.
In the report to investors and backers of the debt covering much of the Strip's major gaming operators, Moody's Senior Credit Officer Peggy Holloway said an upturn toward profitability won't begin until 2012. ... (read more)
Exec thrilled to land Louisiana gaming license23 February 2011
LAS VEGAS, Nevada --On Friday, Dan Lee was awarded Louisiana's 15th and final gaming license. A day later, both his voice mail and e-mail inboxes were nearly full. Through his recently established Creative Casinos LLC, Lee proposed the $400 million Mojito Pointe hotel-casino project on a 220-acre site in the western Louisiana community of Lake Charles. ... (read more)
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