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Howard Stutz Gaming Guru - Page 23Inside Gaming: At SLS Las Vegas, things may get worse before they get better6 July 2015
We shouldn’t be surprised if things get worse for the SLS Las Vegas Hotel & Casino before they get better. A $35.3 million net loss in the first quarter might be just the beginning. The SLS will mark its first full year of operation in August, and it’s clear the hotel-casino is having trouble finding its niche in the resurgent Strip market. ... (read more)
Rep. Barton continues push to legalize online poker6 July 2015
At the World Series of Poker, Rep. Joe Barton, R-Texas, is a celebrity. In the last five sessions of Congress, Barton has either been the primary sponsor or signed on to a bill that would legalize Internet poker in the U.S. His most reason version of the measure was introduced on June 25. A few days later, ... (read more)
Mark Frissora takes over as CEO of Caesars Entertainment2 July 2015
For the first time in 12 years, a new person is at the top of Caesars Entertainment Corp. Mark Frissora took over as CEO of the casino giant Wednesday, replacing Gary Loveman, who remains as the company’s chairman. Loveman will continue to oversee the bankruptcy restructuring of Caesars largest operating division. ... (read more)
Chinese government eases visitation rules as Macau gaming revenues decline2 July 2015
There was actually a glimmer of good news coming from Macau at the end of June. But to find it, you need to look past the Chinese gaming market’s 13th straight monthly gaming revenue decline and the region’s lowest single monthly figure since November 2010. The good news came in the form of a change in visitation rules and one reported uptick in gaming revenue toward the end of the month. ... (read more)
Boyd Gaming announces $45 million expansion at Delta Downs1 July 2015
Boyd Gaming Corp. said Tuesday it will spend $45 million to add a hotel tower and other amenities to its western Louisiana race track casino. The company said in a statement it hopes to complete the project in 2016 that will add 167 hotel rooms to the Delta Downs Racetrack Casino & Hotel in Vinton. ... (read more)
Inside Gaming: Even after death, Kerkorian's legacy through Tracinda will wield influence1 July 2015
At some point, the estate of Kirk Kerkorian will no longer have ownership in MGM Resorts International. But disposing of more than 91.2 million shares in the casino giant won’t happen overnight. Kerkorian, who died June 16 at age 98, left instructions that Tracinda Corp. — his Los Angeles-based holding company — “execute an orderly disposition” of the company’s MGM shares. ... (read more)
Z Capital raises offer for Affinity Gaming30 June 2015
Illinois-based investment group Z Capital, which has twice failed to acquire casino operator Affinity Gaming, has made another cash offer to purchase the Las Vegas-based company. In a letter filed Monday with the Securities and Exchange Commission, Z Capital CEO James Zenni said he would pay $11.50 per ... (read more)
Caesars Entertainment Operating Co. sees net revenue of $53 million for May30 June 2015
Caesars Entertainment Corp. said its bankrupt operating division had a net income of $53 million in April, according to a securities filing. The division, Caesars Entertainment Operating Co., said its total revenue during the month was $327.8 million, including $239.1 million in casino revenue. Caesars filed the results late Friday with the Securities and Exchange Commission. ... (read more)
Inside Gaming: Will multiplayer tables save the slots industry?29 June 2015
Tables resembling giant smartphones have grown so popular inside The Mirage, Bellagio and MGM Grand Las Vegas that content providers are clamoring to put their free-to-play gambling products on the devices. Recently, Reno-based Spin Games added its slot machine, video poker and bingo games to the tables, ... (read more)
Details emerge for Alon Las Vegas project29 June 2015
Nearly a year after a partnership acquired a long-dormant 35-acre site on the Strip, preliminary details emerged this week concerning Alon Las Vegas, a hotel-casino project led by Australian billionaire James Packer and former Wynn Resorts executive Andrew Pascal. Alon Leisure Management, LLC, which ... (read more)
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