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Howard Stutz Gaming Guru - Page 36Nevadan at work: Scion of Las Vegas gaming family paid his dues16 March 2015
LAS VEGAS -- He has the same name as the company’s CEO, but that doesn’t mean Blake Sartini II started at the top for slot machine route operator and tavern giant Golden Gaming, Inc. His first job was tending bar at the company’s Sierra Gold tavern on Stephanie Street and Warm Springs Road. That was at night. ... (read more)
Inside Gaming: Chinese government almost seems to be purposely torpedoing Macau16 March 2015
LAS VEGAS -- If we didn’t know better, one might believe the Chinese government is trying to sabotage Macau’s already sinking gaming market. Nine straight months of casino revenue declines, including a record 49 percent drop in February, are primarily because of a government-imposed crackdown on corruption. ... (read more)
Lower trigger for jackpots seen as costly for casinos13 March 2015
A Wall Street gaming analyst calculated that individual casinos could lose roughly $530,000 per year under a proposed Internal Revenue Service change that would lower the reporting rules for casino customer winnings. The suggested move to reduce the trigger from $1,200 to $600 on jackpots for slot machines, ... (read more)
Golden Nugget to mark $6.5 million convention center upgrade13 March 2015
LAS VEGAS -- Golden Nugget Las Vegas will hold a ceremony Friday to mark its $6.5 million upgrade of 20,000 square feet of convention space. Renovations included new flooring, lighting and wall coverings along with upgraded technology and a state-of-the-art digital signage system, officials said in a statement. ... (read more)
Game developer sues IGT, alleges violation of licensing agreement13 March 2015
Game developer High 5 Games said slot machine giant IGT - International Game Technology violated numerous conditions of a licensing agreement and failed to pay the company royalties from gambling features used on 81 different game titles. In a lawsuit filed Tuesday in U.S. District Court in Chicago, New ... (read more)
Caesars attorney says company 'looking seriously' at lost pension payments12 March 2015
LAS VEGAS -- An attorney for a bankrupt division of Caesars Entertainment Corporation told the Nevada State Gaming Control Board on Wednesday that the casino operator was “looking seriously” at the issue surrounding retired company employees who lost their pension checks because of the Chapter 11 filing. ... (read more)
Bally transaction plays a part in Scientific Games net loss12 March 2015
LAS VEGAS -- The last three months of 2014 gave the investment community a partial look at the financial potential of gaming equipment giant Scientific Games Corporation. Company CEO Gavin Isaacs said Wednesday it will take a few more quarters to get a better handle on the operation, which purchased slot machine giant Bally Technologies, Inc. ... (read more)
Global Cash Access's deal for Multimedia Games affects quarterly results11 March 2015
LAS VEGAS -- Global Cash Access owned slot machine maker Multimedia Games, Inc. for just 13 days in December, but the business had an impact on the company’s fourth-quarter results. The Las Vegas-based provider of payment processing products to casinos said its net loss of $5.7 million in the quarter that ended Dec. ... (read more)
Gloves set to come off in Wynn proxy fight11 March 2015
LAS VEGAS -- The brewing proxy fight at Wynn Resorts, Limited might be more entertaining than “Steve Wynn’s ShowStoppers,” the production of Broadway and movie songs now playing in the Encore Theater. The boardroom extravaganza is a Las Vegas version of “The First Wives Club,” with Steve Wynn as one of the co-stars. ... (read more)
Some ex-Caesars employees lose retirement income because of bankruptcy10 March 2015
LAS VEGAS -- An undisclosed number of former Caesars Entertainment Corporation employees have lost their retirement income because of the casino company’s bankruptcy restructuring of its largest operating division. The retired employees were notified by the company through a form letter/memorandum that was sent Jan. ... (read more)
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