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Howard Stutz Gaming Guru - Page 196Herbst-less Herbst reorganization approved17 December 2010
LAS VEGAS, Nevada -- Herbst Gaming is expected to emerge from bankruptcy by the end of the year -- without a Herbst at the helm.
The Nevada Gaming Commission on Thursday signed off on the court-approved reorganization plan for the casino company and slot machine route operator.
Regulators expressed ... (read more)
Ameristar Casinos cancels sales plans14 December 2010
LAS VEGAS, Nevada -- Ameristar Casinos canceled plans to consider a sale of the Las Vegas-based regional casino operator this morning, saying in a brief statement "a sale is not in the best interests of the Company and its stockholders at this time."
The company hired an investment bank and legal ... (read more)
Sports wagering has record month in Nevada13 December 2010
LAS VEGAS, Nevada -- Buried within all the good news surrounding October's statewide gaming revenue figures was the performance by the race and sport book industry.
Nevada casinos saw gaming revenues jump 11 percent in October while casinos on the Strip reported a 16 percent increase.
Sports book ... (read more)
There are $5 billion reasons to love Singapore13 December 2010
SINGAPORE -- Analysts believe Singapore's two casinos will produce gaming revenues of more than $5 billion in the island nation's first full year of legalized gambling. That would exceed the combined annual take of the 41 casinos on the Strip. That reason alone has investors embracing Las Vegas Sands Corp., which opened the Marina Bay Sands in April. ... (read more)
Nevada gaming revenues continue surge10 December 2010
LAS VEGAS, Nevada -- Gaming revenues in Nevada grew 11 percent in October, the third straight monthly increase reported by casinos statewide.
On the Strip, gaming revenues grew 16 percent, the sixth time in the last 10 months that casinos along Las Vegas Boulevard increased the figures they collected from gamblers compared with 2009. ... (read more)
Caesars Entertainment gets mixed reviews from Fitch Ratings8 December 2010
LAS VEGAS, Nevada -- Fitch Ratings service offered a mixed view of Caesars Entertainment's capital structure, calling the Las Vegas-based casino operator "highly leveraged" but also having a "solid liquidity position."
Fitch analysts said Caesars, which changed its name from Harrah's Entertainment last ... (read more)
Gaming analyst boosts MGM Resorts prospects8 December 2010
LAS VEGAS, Nevada -- Sterne Agee gaming analyst David Bain has given a boost to MGM Resorts International.
In research note to investors, Bain upped his prospects for the Strip casino giant ahead of Thursday's release of Nevada's October statewide casino revenues by the Gaming Control Board.
"Our ... (read more)
Animosity threatens to spoil Maloof/Morton alliance6 December 2010
LAS VEGAS, Nevada -- Palms owner George Maloof and N9NE Group principal Michael Morton took part in the "Legends of Gaming" during the 2009 Global Gaming Expo, a panel discussion hosted by Union Gaming Group. They sat a few seats apart at the event inside the Playboy Club atop the Palms. Their partnership ... (read more)
Macau denies Las Vegas Sands application3 December 2010
MACAU -- Investors grew concerned Thursday that Las Vegas Sands Corp.'s ambitious Asian development plans were dealt a blow by the Macau government.
The company voluntarily halted trading of shares of its Sands China subsidiary on the Hong Kong Stock Exchange after Macau authorities denied the company's application to build casinos on two Cotai Strip parcels. ... (read more)
California senator attempting to halt Indian gaming expansion3 December 2010
WASHINGTON, D.C. -- Sen. Dianne Feinstein, D-Calif., has proposed changes in federal law that would make it harder for Indian tribes without land to open casinos.
The changes proposed by Feinstein, California's senior senator, would make it tougher for tribes to take new lands into trust.
The ... (read more)
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