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Howard Stutz Gaming Guru - Page 30Analyst sees no 'silver bullets' to Macau turnaround19 May 2015
A Wall Street investment house downgraded the prospects for the three Nevada-based casino operators with expanding developments in the cratering Macau gaming market. In a research report to investors Monday, Goldman Sachs gaming analyst Steven Kent said Macau’s downturn, which has seen 11 straight monthly ... (read more)
Inside Gaming: Payouts from Spanish slots no threat to Megabucks18 May 2015
MADRID — Hidden among the hundreds of retail shops, bars and tapas restaurants that surround La Puerta del Sol is the small Luckia slot machine parlor. Other than the store’s bright orange signs, the casino is unnoticed by the thousands of daily visitors to Madrid’s famous central square. Many come to the plaza to take in the festive atmosphere of Spain’s largest city. ... (read more)
MGM Resorts selects general manager for Bellagio18 May 2015
MGM Resorts International on Friday selected Olivia Brown as general manager of Bellagio. Brown has more than 25 years experience in the hospitality industry, most recently serving as general manager of the Ritz-Carlton Boston Commons. Brown will report to Bellagio President Randy Morton and provide strategic direction across all operations of the hotel-casino. ... (read more)
Bill approving slots with skill factor heads to governor15 May 2015
A bill backed by Nevada’s gambling equipment manufacturers that would allow slot machines to add a skill-based, arcade-style element to the game has been approved by both legislative chambers and awaits the governor’s signature. Senate Bill 9 was proposed by the Association of Gaming Equipment Manufacturers ... (read more)
Longtime gaming attorney Silver joining Dickinson Wright15 May 2015
Longtime Las Vegas gaming attorney Jeff Silver announced Thursday he was departing the law firm that still carries his name to join Dickinson Wright. Silver, 69, who has represented and worked for several casino companies during his 40-year career, gave up his role as senior partner in the Gordon Silver law firm in 2013. ... (read more)
Paragon Gaming gets tentative nod to take over Westgate Las Vegas operations14 May 2015
Casino management company Paragon Gaming hopes to take over operations of Westgate Las Vegas Resort & Casino on June 1, but the off-Strip resort is already benefiting from the planned association. Paragon President Scott Menke told the Gaming Control Board on Wednesday that 150,000 room nights for this year that had been booked at the now-closed Riviera were transferred to the Westgate. ... (read more)
Station Casinos gains tentative OK to be treated like other casino companies14 May 2015
Station Casinos gained tentative approval Wednesday from Nevada gaming regulators to be treated by like any other casino company. The locals casino operator asked the Gaming Control Board to remove a condition to the company’s gaming license that was a holdover from when its was owned by a private equity firm. ... (read more)
IGT reports net loss before finalizing merger with GTECH14 May 2015
Slot machine giant International Game Technology lost $13 million and saw total revenue decline 22 percent in its final quarter before completing a $6.4 billion merger with lottery provider GTECH Holdings. The combined company — now called IGT — released results for the quarter that ended March 31 for each company. ... (read more)
Cosmopolitan of Las Vegas halves net loss in latest quarter14 May 2015
The Cosmopolitan of Las Vegas reduced its net loss by more than half in the first quarter, its first full three-month period under the ownership of the Blackstone Group. The hotel-casino, which was sold to the real estate investment conglomerate in December, said Wednesday it lost $5.39 million in the ... (read more)
Full House Resorts sees net revenues dip slightly14 May 2015
Full House Resorts saw net revenues decline slightly in the first quarter as new management takes control of the Las Vegas-based casino operator. Full House, which operates casinos in Indiana, Mississippi and Northern Nevada, said its net loss was $1.8 million, or 9 cents per share for the quarter that ended March 31. ... (read more)
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