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Howard Stutz Gaming Guru - Page 339Pinnacle Boosts Budget for St. Louis Project30 August 2005
Pinnacle Entertainment on Monday said the price of its planned riverboat casino near the Gateway Arch in downtown St. Louis has doubled due to additional commitments and an increase in the project's scope.
The Las Vegas-based casino operator said it will spend $400 million on the planned hotel-casino complex, up from the original cost of $208 million. ... (read more)
Station Casinos Expands Land Buy in Reno23 August 2005
Station Casinos on Monday said it increased the size of a Reno land parcel acquisition from 50 acres to 83. The extra land will give the company more room to develop a hotel-casino adjacent to a planned open-air retail complex.
In just the past year, Station, a Las Vegas-based casino operator, has become a potentially significant player in the Reno gaming market. ... (read more)
L'Auberge du Lac Fuels Louisiana's Casino Numbers18 August 2005
LOUISIANA – Without the nearly $20 million in gaming revenues contributed by Las Vegas-based Pinnacle Entertainment's new Louisiana resort during July, casinos in the Southern state would have collectively seen their monthly gaming figures decrease year-over-year.
One gaming analyst added that it ... (read more)
New Resort Boosts Pinnacle3 August 2005
The Memorial Day weekend opening of the $365 million L'Auberge du Lac resort in Lake Charles, La., propelled Las Vegas-based Pinnacle Entertainment to one of the company's strongest-ever quarterly financial reports.
But pre-opening costs of $16 million in the quarter and more than $28 million ... (read more)
Progressive's Earnings Still Improving3 August 2005
Was it the name change?
Late last year, Progressive Gaming shed its previous designation and several business units to concentrate on becoming a gaming technology and content provider.
Late Monday, the Las Vegas-based company reported a fourth straight quarter of positive net income, earning 7 cents a share on $1.9 million for the period that ended June 30. ... (read more)
Bourbon Street Casino Closing2 August 2005
A small off-Strip casino that had entertainer Wayne Newton among its original investment group will close at the end of October to make way for future development by the gaming industry's largest company.
In March, Harrah's Entertainment purchased the 166-room Bourbon Street and several surrounding ... (read more)
Casino Stock Index Increases for Second Straight Month2 August 2005
The average daily stock prices of the gaming industry's major players rose collectively during July, giving the casino sector its second straight month of increases, according to a Las Vegas index.
As gaming companies report their second quarter earnings -- Boyd Gaming Corp., Station Casinos and MGM Mirage this past week; Las Vegas Sands Corp. ... (read more)
Casino Earnings: Wynn Loses $35.2 Million2 August 2005
Wynn Las Vegas earned $8.2 million during the Strip resort's first 64 days, the company announced Monday.
But when $43.4 million in pre-opening expenses for the $2.7 billion resort are factored into the equation, Wynn Resorts Ltd. said, the company's net loss was $35.2 million for the second quarter ... (read more)
IGT Spends $90 Million to Enter Online Gaming28 July 2005
International Game Technology spent $90 million Wednesday to buy a privately owned Internet gaming provider, presenting the Reno-based slot machine manufacturer its first access to the expanding online gambling market.
The transaction, which is expected to close in August, gives IGT Internet gaming ... (read more)
Boyd Finds Downtown to Liking27 July 2005
While some downtown casinos had their struggles over the past few months, Boyd Gaming's three properties centered around Fremont Street flourished during the second quarter, the company announced Tuesday.
Net income rose to $48.6 million, or 54 cents per share, for the three-month period ended ... (read more)
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