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Howard Stutz Gaming Guru - Page 32Private equity firm offers to buy remaining stake in Affinity Gaming6 April 2015
Illinois private equity firm Z Capital Partners, which already owns 39.5 percent of Affinity Gaming, has offered to buy the rest of the Las Vegas-based casino company for $9.75 per share. In letter to the company board Friday, Z Capital CEO James Zenni — who is also a member of Affinity’s board — said a ... (read more)
Millions owed top Caesars execs may be lost forever3 April 2015
Caesars Entertainment Corp. owes Chairman Gary Loveman a lot of money he may never collect. Loveman is one of 279 current and former Caesars executives and directors owed more than $78.6 million through a deferred compensation program now classified as unsecured debt in the Chapter 11 reorganization of Caesars Entertainment Operating Co. ... (read more)
Earnings potential for Web gaming in U.S. downgraded3 April 2015
Wall Street investment house Morgan Stanley has downgraded the future earning potential for the U.S. Internet gaming market, primarily because there has been little movement toward legalizing the activity in many states. In a report to investors this week, Morgan Stanley gaming analyst Thomas Allen said the ... (read more)
Macau casino revenue declines 39 percent in March2 April 2015
At least it wasn’t another record decline. Macau’s troubled casino market saw gaming revenue fall 39 percent in March, the region’s 10th straight monthly decrease, according to the Macau Gaming Inspection and Coordination Bureau. The three dozen large and small casinos in Macau — including resorts operated ... (read more)
Scientific Games to provide 5,000 video lottery terminals to Greece1 April 2015
Las Vegas-based Scientific Games Corp. said Tuesday it signed a deal with the company that manages the lottery in Greece and will provide 5,000 slot machinelike video lottery terminals to the country’s gaming market. The games — which operate through a central server — are part of 16,500 video lottery terminals operated throughout Greece. ... (read more)
Interblock Gaming selects president for North American division1 April 2015
Slovenia-based gaming equipment provider Interblock Gaming has named Rob Bone as president of the company’s North America division where he will oversee sales and strategies in the U.S. and Canada. Interblock has its North America offices in Las Vegas. Bone has nearly 20 years of experience in the gaming industry, working in both the gaming equipment and casino operations sides of the business. ... (read more)
Amaya Gaming hopes to launch PokerStars site in New Jersey1 April 2015
Canada-based Amaya Gaming, which spent $4.9 billion to acquire PokerStars last year, said Tuesday it hopes to launch an American-based PokerStars site in New Jersey by the fall. During a conference call to discuss the company’s fourth quarter earnings, Amaya CEO David Baazov said the company, which is ... (read more)
Nevada and Strip gaming revenues decline in February1 April 2015
Maybe it was baccarat. Maybe the calendar was to blame. In other words, analysts looked to make sense out of February’s gaming revenue results in Nevada where Strip casinos declined 4.4 percent and every reporting market in the state saw either a gaming revenue increase or flat results. The Strip’s down ... (read more)
High Roller marks year of revolution1 April 2015
The High Roller — Caesars Entertainment Corp.’s observation wheel at the center of the Strip — marked its one-year anniversary Tuesday evening with company officials calling the attraction a success despite the attraction falling below the original ridership projections. The 550-foot-tall wheel, which ... (read more)
Inside Gaming: Controversial law last thing Indiana casinos needed1 April 2015
A heated debate over religious freedom and gay rights was not what Indiana’s challenged gaming industry needed. The state’s 13 casinos experienced a 10 percent decline in gaming revenue in 2014 due in large part to new competition in neighboring Ohio and Illinois siphoning away gambling customers. Possible ... (read more)
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