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Howard Stutz Gaming Guru - Page 208Wynn net income improves thanks to Macau30 July 2010
LAS VEGAS, Nevada -- Wynn Resorts Ltd. benefited from a robust second quarter at the company's casinos in Macau to offset losses on the Strip.
The Las Vegas-based casino operator reported net income of $52.4 million, or 42 cents per share, for the three month-period that ended June 30. A year ago, Wynn earned $25.5 million, or 25 cents a share. ... (read more)
Pinnacle reports $49 million loss in second quarter30 July 2010
LAS VEGAS, Nevada -- Pinnacle Entertainment lost $49.3 million in the second quarter despite a jump in revenues following the opening of a suburban casino in St. Louis. The Las Vegas-based company, which primarily operates in regional markets, said its results for the three months that ended June 30 were hurt by write-downs and other charges of $31.5 million. ... (read more)
IGT profits grow despite revenue dip28 July 2010
RENO, Nevada -- A favorable tax benefit adjustment and slot machine sales into international markets drove gambling equipment giant International Game Technology to a rise in fiscal third-quarter profits despite a decline in company revenues.
Reno-based IGT said Tuesday its net income for the quarter that ended June 30 was $94.6 million, or 32 cents per share. ... (read more)
Las Vegas Sands narrows second quarter net loss28 July 2010
LAS VEGAS, Nevada -- Booming business in Macau helped Las Vegas Sands Corp. shrink its second quarter net loss, the casino operator said this morning.
For the three months that ended June 30, Las Vegas Sands said it lost $4.7 million, or 1 cent per share. A year ago, the company lost $222.2 million, or 34 cents per share. ... (read more)
Borgata sees revenue, profit decline27 July 2010
ATLANTIC CITY, New Jersey -- Boyd Gaming Corp. said Monday its Borgata resort in Atlantic City saw revenues and profits decline during the second quarter because of reduced visitation and competition from casinos in neighboring states. In a statement filed with the Securities and Exchange Commission, Boyd ... (read more)
Wynn, Encore lose $17.2 million in second quarter26 July 2010
LAS VEGAS, Nevada -- Wynn Resorts Ltd. said Wednesday its two Strip resorts had an operating loss of $17.2 million in the second quarter, more than doubling the loss reported in the same quarter a year ago. But investors somewhat shrugged off the news. Shares of Wynn Resorts traded up for most of the day ... (read more)
WSOP champs start famous but have faded out26 July 2010
LAS VEGAS, Nevada -- The countdown toward crowning the next World Series of Poker champion has begun. By the early morning hours of Nov. 9, when the final hand is dealt, poker fans will know all there is to know about the final of table of nine players. The champion will have outlasted a field of 7,319 in the $10,000 buy-in No Limit Hold 'em World Championship to earn more than $8.9 million. ... (read more)
Stations Casinos' Michigan project moves forward22 July 2010
GRAND RAPIDS, Michigan -- Construction of an American Indian casino near Grand Rapids, Mich., is back on track. The Gun Lake Band of Pottawatomi Indians said it has obtained a $165 million loan arranged by Goldman Sachs, which will have a five-year term at 12 percent interest. Work on the 83,000-square-foot project slowed after financing dried up. ... (read more)
Analyst worries Senate campaign tone will hurt Vegas21 July 2010
LAS VEGAS, Nevada -- Could the toxic rhetoric of Nevada's U.S. Senate campaign be a detriment to how much Las Vegas residents might spend with local casino operators?
Deutsche Bank gaming analyst Andrew Zarnett believes this to be true.
He told investors Tuesday the negative tone from the campaigns ... (read more)
MGM Mirage closing sales at CityCenter's Veer Towers20 July 2010
LAS VEGAS, Nevada -- When award-winning architect Helmet Jahn was handed a site within the 67-acre City Center complex that would house the project's only all-residential building, the designer decided a building should be created that would fit what he considered to be the heart of the development. ... (read more)
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