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Howard Stutz Gaming Guru - Page 267Inside gaming: Herbst Gaming exploring all options25 August 2008
LAS VEGAS, Nevada --- The clock is ticking on Herbst Gaming.
The Las Vegas-based casino and slot machine-route operator is facing a Sept. 30 deadline to come up with a financial restructuring plan covering nearly $1.2 billion in debt. In March, Herbst said it was looking at a possible bankruptcy ... (read more)
Herbst Gaming to cede bookmaking duties22 August 2008
LAS VEGAS, Nevada -- Herbst Gaming is turning over its Southern Nevada sports book operations to Brandywine Bookmaking.
The agreement would give Brandywine, which operates as Lucky's, control of the race and sports books at Terrible's on East Flamingo Road, Herbst's three Primm casinos and the ... (read more)
Sands exec calms Macao fears21 August 2008
LAS VEGAS, Nevada -- A week before the opening of Las Vegas Sands' newest $1 billion addition to Macau's Cotai Strip, company President Bill Weidner downplayed Chinese media reports that the government wants to slow visitation into the gambling enclave.
During a conference call Wednesday to discuss the Aug. ... (read more)
Consolidation of suppliers urged21 August 2008
LAS VEGAS, Nevada -- Bally Technologies ended its fiscal year with a 380 percent increase in profits and a 32 percent increase in total revenues -- in other words, the perfect time to consolidate operations with another rival slot machine company, said analysts for one Wall Street investment ... (read more)
Tribal casinos feeling pinch19 August 2008
LAS VEGAS, Nevada -- American Indian casinos continued to churn out record gaming revenues in 2007 but not at the same annual growth rate seen over the past two decades.
According to Casino City's Indian Gaming Industry Report, American Indian casinos generated $26.5 billion in gaming revenue last year, a 4.9 percent increase compared with $25.3 billion generated during 2006. ... (read more)
No cards ... only computers19 August 2008
LAS VEGAS, Nevada -- Can you play poker with no cards, no chips and no dealers?
Poker players at Excalibur are about to find out. When they wander in the casino's poker room on Friday, they will find a fully automated poker room.
Resort officials have decided to equip the casino's poker room with electronic poker tables to boost interest in the game. ... (read more)
Quarterly loss widens for Herbst Gaming19 August 2008
LAS VEGAS, Nevada -- Financially strapped Herbst Gaming had another challenging quarter, losing $62.3 million while suffering revenue declines in both its slot machine route operations and casinos.
The Las Vegas-based company, which said in March it might be forced to file for bankruptcy, said the loss covered the quarter that ended June 30. ... (read more)
Over from Down Under, former lawyer helps Bally Technologies thrive18 August 2008
LAS VEGAS, Nevada -- Gavin Isaacs has seen far more of the United States than his native Australia.
With roughly 85 percent of Australia's population inhabiting about 1 percent of the total country, travel in the land Down Under is somewhat easier.
"You're effectively talking about a portion of ... (read more)
Harrah's making some slots disappear18 August 2008
LAS VEGAS, Nevada -- A rift may be growing between two gaming industry giants.
Some observers, however, downplayed any conflict involving casino operator Harrah's Entertainment and slot machine maker International Game Technology.
"It's more about money than anything," one analyst said.
The ... (read more)
Caesars addition still on track11 August 2008
LAS VEGAS, Nevada -- Harrah's Entertainment is moving ahead with a $1 billion expansion at Caesars Palace, company officials said Friday, despite reporting a net loss in the second quarter and even as competitors slow or halt construction of several Strip projects.
Privately held Harrah's said it ... (read more)
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