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Howard Stutz Gaming Guru - Page 195Analyst encouraged by positive start to 20115 January 2011
LAS VEGAS, Nevada -- January is the time everyone weighs in with prognostications for the upcoming year.
Wall Street is no different.
MorganJoseph gaming analyst Justin Sebastiano said he was encouraged by what he heard from his casino industry contacts about the recent New Year's Eve celebration. ... (read more)
World Series of Poker to halt all-nighters4 January 2011
LAS VEGAS, Nevada -- The idea of the all-night poker game is waning for the early events in the 2011 World Series of Poker. Caesars Entertainment Corp. announced recently that the 42nd World Series of Poker will begin May 31 and run through July 19 at the Rio. The entire schedule, including events, dates, times, and buy-ins, will be released later this month. ... (read more)
Macau gambling revenues rise 66 percent3 January 2011
MACAU -- Macau gaming revenues grew 66 percent in December and almost 58 percent for all of 2010.
The Macau Gaming Inspection and Coordination Bureau announced this morning the market generated gross gaming revenues of 18.9 billion Patacas, which translated into roughly $2.4 billion in U.S. Dollars based currency conversion rates. ... (read more)
Atlantic City sees small piece of good news3 January 2011
ATLANTIC CITY, New Jersey -- In the final days of 2010, Atlantic City casino operators received a smidgen of good news.
Pennsylvania lawmakers want to take a casino license designated for Philadelphia and transfer it to another part of the state.
The move would eliminate competition from one of Atlantic City's top feeder markets, located about an hour's drive northwest of the Boardwalk. ... (read more)
Analysts say recovery is coming for Vegas3 January 2011
LAS VEGAS, Nevada -- The gaming industry is entering uncharted waters in 2011.
For the first time since 1989, the Strip will not witness a new hotel-casino opening nor are any new resort developments on the horizon.
The unprecedented building boom that covered parts of three decades and remade the look and image of the 4-mile-long boulevard is over. ... (read more)
Slot makers look for turnaround in 20113 January 2011
LAS VEGAS, Nevada -- Slot machine makers have had a rough few years.
The recession caused casino operators to hold back on buying new gambling equipment, sending sales revenues plunging for some of Nevada's leading gaming equipment manufacturers.
Companies such as International Game Technology, Bally Technologies and WMS Industries relied on other means to boost overall revenues. ... (read more)
Gaming stocks rebound in 20103 January 2011
LAS VEGAS, Nevada -- Stock prices for publicly traded casino operators and slot machine manufacturers rebounded in 2010 following a disastrous 2009.
Of the 10 gaming companies followed by Las Vegas-based financial consultant Applied Analysis, only slot machine giant International Game Technology saw its average daily stock price tumble. ... (read more)
Business is booming for MGM in Macau29 December 2010
MACAU -- In recent quarterly earnings, MGM Resorts International has touted increased business from its half-owned MGM Grand Macau joint venture. The MacauBusiness.com website reported the casino is now operating its full allotment of 427 table games. The move comes as the Macau government has taken steps to cap the number of table games in the market. ... (read more)
Indian casino planned for Arizona29 December 2010
FLAGSTAFF, Arizona -- Las Vegas casinos may soon see competition about four hours to the east. The Bureau of Indian Affairs has signed final documents taking 405 acres of land into trust for the Navajo Nation about 20 miles outside Flagstaff, Ariz. The deal may pave way for construction of the $120 million Twin Arrows Casino, the Navajo Nation's fourth casino but the tribe's first in Arizona. ... (read more)
Penn National seen as front-runner for Louisiana license20 December 2010
HARVEY, Louisiana -- After three applicants seeking Louisiana's 15th and final riverboat casino license made presentations to state gaming regulators this week, analysts pegged Penn National Gaming as the early favorite.
The Gaming Control Board is expected to announce its choice in February, but Penn ... (read more)
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