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Howard Stutz Gaming Guru - Page 20bwin.party investor tells online gaming rival to increase its bid28 July 2015
The second-largest shareholder in Gibraltar-based bwin.party Digital Entertainment said Monday a rival firm will have to increase an offer if it wants to out-bid online gaming giant 888 Holdings in a takeover battle. bwin.party accepted a $1.4 billion offer from 888 last week. However, online gaming company GVC Holdings upped its bid Monday to $1.6 billion, according to Bloomberg News. ... (read more)
Caesars spends $223 million to transform Strip resort into The Linq27 July 2015
This is the last name change for the former Imperial Palace and the short-lived Quad. That's what a $223 million renovation will buy. A top to bottom remodeling of The Linq Hotel & Casino was completed this month by Caesars Entertainment Corp., through its Caesars Growth Partners subsidiary. The changes scrubbed away any remnants of the Strip resort's life as the Imperial Palace and the Quad. ... (read more)
Investors show new love for regional casino markets27 July 2015
The Lake Charles, Louisiana casino market is the best example why the investment community has done a 180-degree turn on the U.S. gaming operators. Moody's Investors Service said the casino industry's cash flow prospects could climb as much as 4 percent over next 12 to 18 months. The firm's opinion was a ... (read more)
U.S. tribal casinos see fifth straight year of revenue increases27 July 2015
The U.S. Indian casino market recorded its fifth consecutive annual gaming revenue increase in fiscal year 2014, collecting more than $28.5 billion, according to figures released this week by the Washington, D.C.-based National Indian Gaming Commission. "Overall, the Indian gaming industry remains stable," commission Chairman Jonodev Chaundhuri said of the 1.5 percent increase over fiscal 2013. ... (read more)
Boyd keeping mum about REIT plans24 July 2015
The investment community knew the answer going into Boyd Gaming Corp.'s second-quarter earnings conference call. The casino operator wasn't providing additional commentary on a possible real estate investment trust or strategic corporate option. The answer has been the same since Boyd first brought up the idea last year. ... (read more)
State gaming regulators approve Golden Gaming-Lakes merger24 July 2015
State gaming regulators said Thursday they wished all mergers were this easy. Golden Gaming's $341 million combination with Minnesota-based Lakes Entertainment was approved Thursday by the Nevada Gaming Commission. The transaction, which was announced in January, is expected to be finalized by Aug. ... (read more)
Penn National plans development program for the Tropicana24 July 2015
Regional casino operator Penn National Gaming said Thursday it will launch a development plan for the Tropicana Las Vegas that would take three to five years to implement. The company announced in April it was acquiring the Strip resort for $360 million and the transaction is expected to close by the end of the year. ... (read more)
Macau market decline cuts into Las Vegas Sands' quarterly revenues23 July 2015
At least it wasn't a net loss. Las Vegas Sands Corp. said Wednesday financial issues surrounding the Macau gaming community resulted in the casino company reporting a 19.4 percent decline in revenue and 30.1 percent drop in profits during the second quarter. For the past year, visitation by gamblers to ... (read more)
Inside Gaming: MGM Resorts CEO discusses REIT plans22 July 2015
It hasn't been a quiet year for MGM Resorts International. The general belief is that it's going to get much louder. Wall Street expects MGM Resorts to announce some type of corporate initiative in the next few months, most likely spinning off a portion of its casinos into a real estate investment trust. ... (read more)
Caesars reaches restructuring agreement with second-tier creditors22 July 2015
Caesars Entertainment Corp. struck an agreement with a large group of the company's second-tier debt holders, which could smooth out the bankruptcy reorganization of the casino operator's largest business division. However, the deal would delay Caesars Entertainment Operating Co.'s exit from the process by six months. ... (read more)
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