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Howard Stutz Gaming Guru - Page 3Golden Entertainment sells promissory note to Penn National Gaming11 December 2015
Golden Entertainment said Thursday it sold a subordinated promissory note the company held for the Jamul Indian Village in San Diego to a subsidiary of Penn National Gaming for $24 million. Penn is developing the $390 million Hollywood Casino Jamul for the tribe. The company will manage the casino, located 20 miles outside downtown San Diego, when the property opens next year. ... (read more)
Analyst: Investor interest in Strip's Alon project may be 'diminishing'11 December 2015
An Australian gaming analyst said one of the developers of the proposed Alon project on the Strip is having trouble raising the financing that is needed to help build the planned hotel-casino complex. In a research report Thursday, Credit Suisse gaming analyst Larry Gandler said Crown Resorts, the ... (read more)
Wynn stock purchase spurs 13% jump in share price10 December 2015
Steve Wynn spent roughly $63.8 million in an effort to boost the stock price of Wynn Resorts Ltd. The decision worked, albeit, at least for one day. Shares of Wynn Resorts jumped more than 13% on the Nasdaq on Wednesday, a day after the company announced its chairman and CEO acquired more than 1 million outstanding shares of the casino company on the open market. ... (read more)
Steve Wynn buys 1 million shares of his company's stock9 December 2015
Wynn Resorts Ltd. said Tuesday that Chairman and CEO Steve Wynn spent roughly $63.8 million to acquire more than 1 million shares of his company's stock on the open market. In a filing with the Securities and Exchange Commission, the company said Wynn, 73, bought 1,003,977 shares on the Nasdaq open market between Friday and Tuesday at prices that ranged from $62.41 per share to $64.44 per share. ... (read more)
Sports betting pioneer Salerno applies for Nevada gaming license for DFS9 December 2015
Race and sportsbook pioneer Vic Salerno has applied for a Nevada gaming license to manage a daily fantasy sports business that operates off a platform similar to pari-mutuel wagering. The system would allow his Nevada-based company to accept daily fantasy sports wagers from Nevada and other states that have similar laws in place. ... (read more)
Inside Gaming: Nevada AG describes 'nuances' in his position on RAWA9 December 2015
Nevada Attorney General Adam Laxalt didn't back away from adding his name to a letter circulated by an attorneys general group offering support for federal efforts to restore the Interstate Wire Act back to its pre-2011 interpretation. But the state's top prosecutor Tuesday outlined "some nuances in my own ... (read more)
Culinary union calls for contract talks after Trump workers vote for union8 December 2015
A majority of workers at the Trump International Hotel Las Vegas voted for union representation, setting up potential contract talks between the nongaming hotel owned by billionaire Donald Trump and Las Vegas's largest labor group. Culinary Local 226 said Monday a majority of the hotel's 500 employees ... (read more)
Caesars' bankrupt operating division reports $23.1 million profit in October8 December 2015
Caesars Entertainment Corp.'s bankrupt operating division reported a net income of $23.1 million during October, according to a securities filing Monday. Because its Chapter 11 bankruptcy filing in January, Caesars Entertainment Operating Co. is required to file monthly revenue reports for the division, ... (read more)
Inside Gaming: Acquisition boosts prospects for slot machine maker6 December 2015
It's hard to miss Ainsworth Game Technology's new North American headquarters. The 291,000-square-foot building, currently under construction in the southwest valley along the 215 Beltway near South Jones Boulevard, is already emblazoned with the red Ainsworth "A" logo. The Australian-based slot machine ... (read more)
Boyd announces plans to redesign California Hotel4 December 2015
Boyd Gaming Corp. on Thursday announced an extensive redesign of its downtown California Hotel & Casino that will give the resort that caters predominantly to a Hawaiian customer base a new look to its public areas and hotel rooms. The company did not reveal a price for the remodel, call it a "multi-million-dollar" renovation. ... (read more)
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