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Howard Stutz Gaming Guru - Page 194Stanley Ho gives up ownership in Macau casinos24 January 2011
MACAU -- Controversial Hong Kong billionaire Stanley Ho transferred nearly his entire ownership stake in his Macau casinos to family members, giving up control of the gaming operation.
In a filing Monday with the Hong Kong Stock Exchange, SJM Holdings said Ho, 89, the company's chairman and chief executive officer, no longer has an "attributable interest" in the casino company. ... (read more)
Las Vegas Sands has largest market cap in industry19 January 2011
LAS VEGAS, Nevada -- Las Vegas Sands Corp. has topped a list of the world's leading gaming companies based on market capitalization.
But the company's Hong Kong-based subsidiary, Sands China, which covers the company's holdings in Macau, ranked third on the list. Las Vegas Sands owns 71 percent of Sands China. ... (read more)
Illinois lawmakers kill gaming expansion14 January 2011
SPRINGFIELD, Illinois -- Illinois lawmakers, earlier this week, ended any chances of meaningful gaming expansion in the Midwest state.
A bill that would have permitted five new casinos and would have allowed for slot machines to be installed at racetracks and at the Chicago area airports, died during a special legislative session without any action being taken. ... (read more)
Pinnacle Entertainment to acquire Ohio racetrack14 January 2011
CINCINNATI, Ohio -- The Ohio State Racing Commission approved plans Thursday by Pinnacle Entertainment to acquire the River Downs Racetrack in southeast Cincinnati by the end of this month. Las Vegas-based Pinnacle, a regional casino operator, said it would fund the $45 million acquisition through available cash. ... (read more)
Shuffle Master Gaming suffers slight drop in earnings14 January 2011
LAS VEGAS, Nevada -- A one-time charge to settle a lawsuit kept table game manufacturer Shuffle Master Gaming from increasing its fourth-quarter earnings.
The Las Vegas-based company said Thursday its net income for the quarter ended Oct. 31 was $5.7 million, or 10 cents per share. A year ago, the company reported net income of $6.2 million, or 12 cents per share. ... (read more)
Nevada gaming revenues drop six percent in November12 January 2011
LAS VEGAS, Nevada -- Hope you enjoyed it while it lasted.
Statewide gaming revenues fell almost 6 percent in November, ending a three-month rally by Nevada casinos. On the Strip, gaming revenues declined 4.1 percent, which halted four straight months of either increases or flat results.
Analysts, ... (read more)
Gaming industry criticizes "60 Minutes" report11 January 2011
LAS VEGAS, Nevada -- Gaming industry proponents on Monday poked holes in a report by the CBS news program "60 Minutes" that claimed high-tech slot machines create problem gamblers while cash-strapped states prey on those individuals to provide the gambling revenues needed to close budget deficits. The segment, titled "Slot Machines: The Big Gamble," aired Sunday night. ... (read more)
Shuffle Master board member resigns11 January 2011
LAS VEGAS, Nevada -- Shuffle Master Gaming's former Interim Chief Executive Officer Phillip Peckman resigned his seat on the company's board of directors last week.
Peckman had been a member of the Las Vegas-based company's board June 2007, including serving as interim chairman. He took over as interim CEO early last year following the death of CEO Tim Parrott. ... (read more)
Analysts say Pinnacle Entertainment poised for solid year10 January 2011
LAS VEGAS, Nevada -- Pinnacle Entertainment collected its share of headlines in 2010.
Wall Street believes the Las Vegas-based regional casino operator will cultivate investor interest again in 2011.
Several analysts made Pinnacle their top stock pick this year. Another analyst downgraded his view of Pinnacle but thought there is value in the company. ... (read more)
Nevada casinos opposing new fee plans7 January 2011
LAS VEGAS, Nevada -- A renewed interest in having Nevada's casino industry pay for regulating and enforcing state gaming laws is being met with the same reaction witnessed nearly a year ago.
There isn't much support for a proposal that would raise $28.7 million annually through additional fees. ... (read more)
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