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Howard Stutz Gaming Guru - Page 216Bally Technologies reports lower earnings30 April 2010
LAS VEGAS, Nevada -- Slot machine maker Bally Technologies, which told Wall Street earlier this month its third-quarter earnings would be off due to slower-than-expected slot machine sales, confirmed those predictions Thursday.
Las Vegas-based Bally reported net income of $23 million, or 39 cents per ... (read more)
Sands opens first phase of Singapore complex27 April 2010
SINGAPORE -- At 165,000 square feet, the casino inside Singapore's Marina Bay Sands resort isn't the project's overwhelming feature. In fact, the casino makes up about 1 percent of the building's total square footage. When government leaders for the island nation in 2005 approved two casinos for Singapore ... (read more)
Pinnacle posts first quarter profit27 April 2010
LAS VEGAS, Nevada -- Regional casino operator Pinnacle Entertainment posted a profit for the first quarter, surprising Wall Street, which had predicted a net loss after the company's upheaval following a management shake-up and direction changes.
The Las Vegas-based company, which operates casinos in ... (read more)
Merger binge could return to gaming26 April 2010
LAS VEGAS, Nevada -- The seemingly uncontrolled merger-and- acquisition activity that permeated the gaming industry a few years ago could soon return, although the purchase figures that resulted in ridiculously high cash flow-to-price multiples are a thing of the past.
In a report to investors, Deutsche ... (read more)
Penn National profits down 11 percent23 April 2010
LAS VEGAS, Nevada -- Regional casino and racetrack operator Penn National Gaming said Thursday its first-quarter profit declined 11 percent from a year ago because of reduced consumer spending on gambling.
The company reported net income of $36.2 million, or 34 cents per share, for the quarter ended March 31. ... (read more)
IGT's profit jumps 7 percent23 April 2010
LAS VEGAS, Nevada -- International Game Technology would have reported net profits for the second quarter that would have shocked Wall Street -- if only you subtract restructuring charges and the costs to close its Japanese operations.
Instead, the Reno-based slot machine giant had to settle for a 7 percent increase in net income and a nearly 5 percent jump in quarterly revenues. ... (read more)
Wynn considers moving company to Macau22 April 2010
LAS VEGAS, Nevada -- Steve Wynn's announcements usually draw lots of raves and praise from Las Vegans, but not this time.
Local gaming and government officials instead were expressing skepticism and concern after the Wynn Resorts chairman said on a cable business network Wednesday that he was considering moving his company's corporate headquarters from Las Vegas to Macau. ... (read more)
Boyd files objections to Station reorganization plans22 April 2010
LAS VEGAS, Nevada -- Boyd Gaming Corp., which has been seeking to purchase all or a portion of Station Casinos for the past year, filed objections to its rival's bankruptcy reorganization plans Thursday, saying the proposed concept would diminish the value of certain properties, thus eliminating offers from potential bidders. ... (read more)
Vegas makes room for stranded visitors20 April 2010
LAS VEGAS, Nevada -- The Strip picked up a few extra visitors over the weekend, and it had nothing to do with rodeo fans and country western music aficionados. Trans-Atlantic flights canceled because of a massive volcanic ash cloud have paralyzed air travel throughout Europe. At McCarran International ... (read more)
Group plans bid for Station Casinos20 April 2010
LAS VEGAS, Nevada -- Station Casinos' owners and some of its lenders plan to submit a $772 million opening bid to acquire a majority of the gaming company's assets in bankruptcy court through a newly formed company, according to a statement issued Monday by the gaming company.
The proposal, along with a ... (read more)
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