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Howard Stutz Gaming Guru - Page 37REIT offers to buy real estate of Pinnacle Entertainment10 March 2015
LAS VEGAS -- A real estate investment trust spun off from Penn National Gaming, Inc. on Monday offered to buy the real estate owned by rival regional operator Pinnacle Entertainment, Inc. of Las Vegas for $4.1 billion. Gaming and Leisure Properties Inc. said in a statement the proposed transaction would create the third-largest triple-net REIT by enterprise value. ... (read more)
Macau gaming revenues fall a record 49 percent in February9 March 2015
Macau casinos suffered their worst single month gaming revenue decline on record in February, marking the region’s ninth straight monthly dip. The Macau Gaming and Inspection Bureau said Monday night — Tuesday in China — that casinos collected $2.44 billion from gamblers during the month, a drop of 49 percent. ... (read more)
Caesars narrows loss, offers little details on bankruptcy9 March 2015
LAS VEGAS -- Anyone hoping for extensive details Monday on the bankruptcy efforts covering Caesars Entertainment Corporation’s largest operating division was disappointed. Caesars Chairman and CEO Gary Loveman, at the outset of the casino operator’s fourth-quarter earnings call, said he wouldn’t answer questions regarding the status of the restructuring of Caesars Entertainment Operating Co. ... (read more)
Elaine Wynn: Removal from company's board 'extraordinarily disappointing'9 March 2015
LAS VEGAS -- Wynn Resorts, Limited director Elaine Wynn called a decision by the company to remove her from the board “extraordinarily disappointing,” and said she was considering her next move. In a proxy filing with the Securities and Exchange Commission on Friday, Wynn Resorts said it was reducing its ... (read more)
Feb. decline marks Macau's worst gaming revenue month since 20119 March 2015
Maybe February was rock bottom in Macau. Macau casinos suffered a 49 percent decline in gaming revenue during February — the market’s single-worst monthly decline on record. Despite what is normally a lucrative time period, the annual Chinese New Year, the region reported an overall gaming revenue total of $2.44 billion, a figure not seen since 2011. ... (read more)
Century Gaming wary of proposed new Nevada slot machine tax9 March 2015
LAS VEGAS -- Nevada slot machine route operator Century Gaming, Inc. doesn’t own the bars, taverns, restaurants or convenience stores where it manages more than 3,000 games. That might seem a bit unusual for the state’s second-largest slot route company. Most of Century’s main rivals provide slot machines to their own businesses, as well as distributing games and systems to the competition. ... (read more)
Wynn Resorts adding two more acres to Boston-area casino site9 March 2015
Wynn Resorts, Limited added nearly 2 more acres to its planned casino site outside Boston where the company is planning to build a $1.6 billion hotel-casino. The company said Tuesday it closed on a 1.75-acre site that was purchased from the Massachusetts Bay Transportation Authority for $6 million.The land ... (read more)
Fahrenkopf joins San Jose, Calif., company as strategic adviser9 March 2015
Former American Gaming Association (AGA) CEO Frank Fahrenkopf Jr. has joined San Jose, Calif.-based Joingo as a strategic adviser to the mobile gaming company. Fahrenkopf, who retired from the Washington, D.C., trade organization after 19 years at the helm, will advise Joingo’s leadership as the technology company gains further inroads into the convergence of mobile technology and casino gaming. ... (read more)
Inside Gaming: IGT name among valued assets being acquired by GTECH9 March 2015
LAS VEGAS -- GTECH Holdings is paying $6.4 billion to acquire IGT - International Game Technology, but the Italy-based lottery giant is taking on more than just “Wheel of Fortune” and the company’s other slot machine titles and products. GTECH wants the name IGT. At last week’s Nevada gaming regulatory ... (read more)
Wynn Resorts to rake in $511 million dividend from Macau subsidiary9 March 2015
LAS VEGAS -- The Chinese subsidiary of Wynn Resorts, Limited plans to issue a special stock dividend this month, which will result in the parent company collecting $511 million. The move comes as Macau’s casino market is in an unprecedented gaming revenue nosedive. February marked the region’s ninth straight monthly decrease, with the 49 percent decline an all-time single-month record. ... (read more)
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