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Howard Stutz Gaming Guru - Page 331Pelican State's Gaming Win Up18 January 2006
LOUISIANA -- Not even hurricanes couldn't stop casino revenue from growing in Louisiana in 2005.
Despite the continued closure of four hurricane-devastated casinos and three months in which Louisiana's storm-ravaged riverboats and racinos reported significant revenue decreases, the state's gaming industry ... (read more)
Offering Expected to Raise $164.1 Million for Pinnacle16 January 2006
Las Vegas-based Pinnacle Entertainment said Friday its recently announced stock offering will result in $164.1 million in gross proceeds to the company, money that will be used to add hotel rooms to three of its casinos.
Pinnacle is expected to close the public offering on Thursday. Six million shares of newly issued common stock was priced at $27.35 per share. ... (read more)
Castaways Sinks into History12 January 2006
LAS VEGAS -- It took two separate construction phases and a little more than four years for the builders of the Showboat to complete the casino's 19-story, 450-room hotel tower during the mid-1970s.
"Station Casinos and its demolition partners took all of 18 seconds to bring the building down early ... (read more)
Nevada November Win Results Up12 January 2006
NEVADA -- Nevada casinos have already surpassed the state's all-time annual gaming win record with one more month left to collect numbers, the Gaming Control Board reported Wednesday.
Through November 2005, the state's gambling halls have won more than $10.7 billion from casino customers, almost 11 ... (read more)
Implosion Slated for Tower at Castaways10 January 2006
LAS VEGAS, Nevada -- The stripped and gutted tower from the shuttered Castaways will be imploded Wednesday morning, wiping away the last remnants of the casino formerly known as the Showboat.
Station Casinos bought the 26-acre site on Boulder Highway 14 months ago in a three-way transaction for $33.7 million. ... (read more)
Bye Bye, Boardwalk10 January 2006
LAS VEGAS, Nevada -- As security guards and gaming agents cleaned out and locked down the Boardwalk's slot machines and gaming tables in advance of the Strip casino's Monday closing, longtime customers and employees hugged, posed for pictures and said their sad goodbyes.
Meanwhile, Boston ... (read more)
Nevada Casinos Post Record Income6 January 2006
NEVADA -- Nevada's major hotel-casinos posted their highest net income ever in a fiscal year, generating more than $1.8 billion on revenue of $21.4 billion in 2005, a new report released by the Nevada Gaming Control Board Thursday shows.
The total revenue figure, which included the net income from 268 ... (read more)
Investors Make Play for Shares of Riviera30 December 2005
LAS VEGAS, Nevada -- A group of investors, including former Starwood Hotels' chairman Barry Sternlicht and Las Vegas real estate developer Brett Torino, have agreed to buy a portion of Riviera Holdings Corp., the parent company of the 50-year-old Riviera.
In a filing Wednesday with the Securities and Exchange Commission, the investors said they had entered into an agreement Dec. ... (read more)
Harrah's Unloads Gulfport Casino21 December 2005
Harrah's Entertainment reduced its losses in the hurricane-ravaged Mississippi Gulf Coast, agreeing on Tuesday to sell what's left of the Grand Casino Gulfport to owners of another destroyed casino.
In announcing the deal, Harrah's said it would concentrate on rebuilding the Grand Casino Biloxi, which was also destroyed by Hurricane Katrina on Aug. ... (read more)
Caesars Now Primed for Poker21 December 2005
Hoping to ride the current wave of poker popularity, Caesars Palace will open a $12 million poker room today, the casino's first poker room in 16 years.
Caesars Palace, now operated by World Series of Poker owner Harrah's Entertainment, will offer a permanent 30-table poker room next to the resort's ... (read more)
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