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Howard Stutz Gaming Guru - Page 38IRS suggests dropping casino winnings threshold to $6009 March 2015
The Internal Revenue Service may lower the reporting level for casino customers who win at slot machines, keno and bingo, a change that gaming and legal advocates say is not needed and only adds more paperwork to an overly regulated industry. The proposal, released this week by the IRS, suggests the ... (read more)
Elaine Wynn files paperwork seeking to regain board position9 March 2015
LAS VEGAS -- Ousted Wynn Resorts, Limited board member Elaine Wynn isn’t giving up without a fight. The ex-wife of Wynn Resorts Chairman and CEO Steve Wynn — and the casino operator’s third-largest shareholder — filed paperwork with the Securities and Exchange Commission on Thursday, seeking to regain her seat less than a week after fellow board members chose not to renominate her. ... (read more)
Inside Gaming: Real estate investment trust concept could happen for MGM Resorts9 March 2015
LAS VEGAS -- By next year, at least three casino companies will have traveled the path into the real estate investment trust market. Now, a fourth may join them on the trail. Last month, MGM Resorts International CEO Jim Murren said his company had no plans to split some or all of its nearly two dozen U.S.-based casinos and resorts into a REIT. ... (read more)
Gaming Insider: Adding Buffalo a runaway hit for bar-top gaming9 March 2015
LAS VEGAS -- One game could change the landscape of Nevada’s slot machine route business. At least, that’s the hope of Century Gaming, Inc. The company struck a deal with Australian slot machine manufacturer Aristocrat Technologies to place three of its popular game titles within Century’s multigame bar-top slot machines. ... (read more)
Repeal of sports wagering handle tax reintroduced by Titus2 March 2015
LAS VEGAS -- Legislation that would repeal a federal handle tax on Nevada sports books was reintroduced in Congress on Friday by Rep. Dina Titus, D-Nev., who said the levy places an undue burden on the state’s sports book industry. Titus introduced the measure last year, but it was not acted upon. Titus ... (read more)
Gaming revenue shifts trend, rises 7.75 percent in Nevada, 15.4 percent on Las Vegas Strip2 March 2015
LAS VEGAS -- Nevada casinos turned the corner in January. Gaming revenue increased 7.75 percent statewide while Strip casinos grew totals by 15.4 percent during the first month of 2015, the Gaming Control Board said Friday. The January results ended five straight declining months of gaming revenue on the Strip. ... (read more)
Inside Gaming: Blackstone executive ready to bet big on Cosmopolitan of Las Vegas2 March 2015
LAS VEGAS -- Blackstone Group executive Jonathan Gray never will be mistaken for Nick the Greek. The company’s head of global real estate considers himself just a gambling novice. Yet, the head of the New York-based private equity fund is wagering $1.73 billion it can make The Cosmopolitan of Las Vegas a shining jewel on the Strip. ... (read more)
Wynn Resorts seeks to oust Elaine Wynn from board of directors2 March 2015
LAS VEGAS -- Wynn Resorts, Limited plans to remove longtime director Elaine Wynn from the casino operator’s board of directors, primarily due to a 2012 lawsuit she filed against her ex-husband, company Chairman and CEO Steve Wynn. In a proxy filing with the U.S. Securities and Exchange Commission Friday, Wynn Resorts said it will reduce its Class I board members from three to two. ... (read more)
Nevada regulators approve GTECH buyout of IGT27 February 2015
LAS VEGAS -- Nevada gaming regulators on Thursday approved the equipment manufacturing sector’s largest-ever merger. After more than three hours of special meetings in Las Vegas, the Nevada State Gaming Control Board and Nevada Gaming Commission signed off on Italy-based lottery giant GTECH Holdings $6.4 billion buyout of Nevada-based slot machine manufacturer International Game Technology. ... (read more)
Caesars sells 20 percent interest in Ohio casinos27 February 2015
LAS VEGAS -- Caesars Entertainment Corporation on Thursday sold its 20 percent interest in three Ohio casinos to partner Detroit-based Rock Gaming, LLC. A sale price was not disclosed. The deal was announced by Rock Gaming’s subsidiary, Rock Ohio Ventures. Caesars will continue to manage the properties, which will remain part of the company’s Total Rewards player loyalty program. ... (read more)
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