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Howard Stutz Gaming Guru - Page 201Pinnacle ponders sale of Nevada casino13 October 2010
LAS VEGAS, Nevada -- Las Vegas-based Pinnacle Entertainment is considering a sale of its only casino in Nevada. A spokesman for the regional casino operator said the company has asked CB Richard Ellis of Las Vegas to see whether there is interest from potential buyers for the company's Boomtown property near Reno. ... (read more)
Analyst downgrades MGM Resorts International12 October 2010
LAS VEGAS, Nevada -- One gaming analyst wasn't buying MGM Resorts International's 15 percent increase in its stock price last Friday and is predicting troubles for the Strip casino giant.
In a research note to investors before trading opened on the New York Stock Exchange Monday, Hudson Securities ... (read more)
Wynn softens stance on iGaming11 October 2010
LAS VEGAS, Nevada -- Maybe Harrah's Entertainment won't have to go at it alone.
There seems to be a thawing in the ice-cold reception the casino industry once gave toward the notion of legalizing forms of Internet gaming.
Harrah's is online wagering's most vocal proponent within the gaming industry. ... (read more)
Nevada regulators recommend Cosmopolitan for license approval11 October 2010
LAS VEGAS, Nevada -- The $3.9 billion Cosmopolitan of Las Vegas won't be looking to compete for high-end gamblers with Wynn Las Vegas, The Venetian or MGM Grand when it opens to the public on Dec. 15. But state gaming regulators were told Thursday the once troubled property, which will finally be unveiled ... (read more)
Top Harrah's executive in Asia departs11 October 2010
LAS VEGAS, Nevada -- Harrah's Entertainment's top executive in Asia left the company last week, leading some to wonder if the casino operator has given up on its hopes to operate a casino in Macau.
Michael Chen left his position as Harrah's Asia operations president and started a yearlong sabbatical last Friday. ... (read more)
Penn National buys M Resort for $230.5 million8 October 2010
LAS VEGAS, Nevada -- Regional casino operator Penn National Gaming has acquired the 19-month-old M Resort for $230.5 million, the Wyomissing, Pa.,-based company announced this morning. In a statement, Penn National said it purchased all of the M Resort bank debt, plus $160 million of subordinated debt ... (read more)
Nevada gaming revenues jump 11.5 percent in August8 October 2010
LAS VEGAS, Nevada -- Nevada gaming revenues jumped 11.5 percent in August, reversing a five-month slide and giving Las Vegas' largest casino operators a boost on Wall Street.
The statewide increase was fueled by a 21.1 percent jump on the Strip, the fourth time in eight months Strip casinos either had a gaming revenue increase or were flat in comparison to the same month a year ago. ... (read more)
Former Pinnacle exec sees potential in Louisiana4 October 2010
LAS VEGAS, Nevada -- If you believe former Pinnacle Entertainment chief executive Dan Lee wants to acquire Louisiana's last available gaming license as a way of getting back at the company that forced his resignation nearly a year ago, think again.
For Lee, it's simply an opportunity to make what he ... (read more)
MGM Resorts aims to pay off debt4 October 2010
LAS VEGAS, Nevada -- The chief executive of gaming giant MGM Resorts International said Friday signs are pointing toward an economic turnaround for its Las Vegas hotel-casinos, but any profits will go toward eliminating the $13 billion in long-term debt the company accumulated during the downturn.
MGM ... (read more)
Gaming stocks see gains in September4 October 2010
LAS VEGAS, Nevada -- With two exceptions, the gaming sector had an upward bounce during September.
Eight of the 10 publicly traded casino operators and slot machine manufacturers that financial consultant Applied Analysis follows for its gaming index experienced increases in their average daily stock prices during the month. ... (read more)
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