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Howard Stutz Gaming Guru - Page 35IGT signs deal with $3.5 billion Baha Mar resort20 March 2015
Slot machine giant IGT - International Game Technology signed a deal with the $3.5 billion Baha Mar resort in the Bahamas to provide games to half of the casino’s slot machine floor. IGT will install more than 500 of the company’s slot machines and deploy its management system in the casino, which is set to open later this month. ... (read more)
Full House reports wider net loss, decline in revenue19 March 2015
LAS VEGAS -- Full House Resorts, Inc.’s first quarterly earnings report under new management saw an increased net loss and a decline in revenue, but officials with the Las Vegas-based company said it will take much of 2015 to change the casino operator’s direction. CEO Dan Lee, who has been on the job since ... (read more)
Hedge fund proposes REIT split for MGM Resorts18 March 2015
LAS VEGAS -- A New York hedge fund proposed Tuesday that MGM Resorts International convert its casinos and land holdings into a real estate investment trust, a move that would allow the Strip gaming giant to cut its debt by $5 billion and increase the company’s valuation. The move was proposed by Land and Buildings Investment Management, an investment firm headed by Jonathan Litt. ... (read more)
Caesars says lawsuits raise 'going concern' doubts18 March 2015
LAS VEGAS -- Caesars Entertainment Corporation said in a securities filing late Monday the numerous lawsuits filed by bondholders over the bankruptcy restructuring of its largest operating division could “raise substantial doubt about (the company’s) ability to continue as a going concern.” In the company’s ... (read more)
Inside Gaming: New Orleans readies smoking ban, but it won't happen here18 March 2015
LAS VEGAS -- Caesars Entertainment Corporation can’t seem to catch a break. Next month, New Orleans will ban smoking in most public venues within Orleans Parish, including bars, hotels, sports stadiums and restaurants (where the activity has been curtailed since 2007). Harrah’s New Orleans Casino is also on the no-smoking list. ... (read more)
Corporate concerns cited in not renominating Elaine Wynn to board17 March 2015
LAS VEGAS -- Wynn Resorts, Limited said Monday it could be forced to repurchase a portion of its corporate debt under unfavorable terms if now-ousted board member Elaine Wynn prevails in her lawsuit over a shareholders agreement with her ex-husband, company Chairman and CEO Steve Wynn. In the filing of its ... (read more)
Hedge fund says bid for Pinnacle real estate too low16 March 2015
LAS VEGAS -- The hedge fund that initially sought to move regional casino operator Pinnacle Entertainment, Inc. into a real estate investment trust said it was encouraged by this week’s acquisition offer from rival Penn National Gaming, Inc.’s spinoff, but believes the $4.1 billion price was too low. ... (read more)
Sands taps executive from Bahamas to oversee Strip resorts16 March 2015
LAS VEGAS -- Las Vegas Sands Corp. reached into the Bahamas for the person to oversee the company’s Strip resorts. The company recently named George Markantonis as president and chief operation officer of The Venetian Resort-Hotel-Casino, The Palazzo Resort Hotel Casino and Sands Expo & Convention Center. ... (read more)
Strip resorts president West to retire in April16 March 2015
LAS VEGAS -- Luxor Hotel and Casino and Excalibur Hotel and Casino President Renée West, the first woman ever named president of a Strip resort, will retire in April, MGM Resorts International said Friday. West will be replaced by two people. Nik Rytterstrom was named general manager of Luxor on Friday. ... (read more)
Wynn Resorts executive Kim Sinatra will deliver 2015 Faiss Lecture16 March 2015
LAS VEGAS -- Wynn Resorts, Limited General Counsel Kim Sinatra will be the 2015 speaker for the annual Robert D. Faiss Lecture on Gaming Law and Policy at the UNLV William S. Boyd School of Law. The event will take place Thursday from 4-5:30 p.m. at the Thomas & Mack Moot Court. Sinatra’s address is titled ... (read more)
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