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Howard Stutz Gaming Guru - Page 45American Gaming Association expands in membership, influence14 January 2015
WASHINGTON, D.C. -- Inside the American Gaming Association's new headquarters in Washington are a few slot machines to entertain policymakers and other visitors. The free-play games also serve as instructional tools to teach gambling novices about the inner-workings of the casino industry. A large poker table is on order. ... (read more)
Baha Mar resort in Bahamas opening March 2713 January 2015
The initial phase of the $3.5 billion The Baha Mar Casino & Hotel in the Bahamas will open March 27. The project, which has been under construction for almost three years, includes the 1,000-room Baha Mar centerpiece, a 300-room SLS LUX Hotel, and a 200-room Rosewood at Baha Mar Hotel. A 700-room Grand Hyatt Hotel will open later this year. ... (read more)
Law firm steeped in Nevada gaming history relegated to history pages12 January 2015
LAS VEGAS -- Back when Nevada and Atlantic City were the only places in the United States to find casinos, the law firm Lionel Sawyer & Collins ruled the legal roost. With the New Year’s Day addition of nearly 20 of the firm’s attorneys into the Fennemore Craig law firm, Lionel Sawyer & Collins has been ... (read more)
Creditors attempting to block Caesars planned restructuring12 January 2015
Junior level creditors of Caesars Entertainment Corp. are attempting to block this week’s planned restructuring of the casino company’s primary business unit. The lenders, led by Appaloosa Investment LP, filed an involuntary Chapter 11 bankruptcy against Caesars Entertainment Operating Co. on Monday in Delaware. ... (read more)
Z Capital Partners boosts stake in Affinity Gaming12 January 2015
Illinois private equity firm Z Capital Partners, the largest shareholder in casino operator Affinity Gaming, has increased its ownership stake in the company whose holdings include the three Primm resorts and the off-Strip Silver Sevens. In a filing with the Securities and Exchange Commission, Z Capital said it now owns 39.5 percent of Affinity. ... (read more)
MGM Resorts to hold a job fair for 700 Las Vegas summer positions5 January 2015
LAS VEGAS -- Las Vegas is facing snow on New Year’s, but MGM Resorts International is already thinking about the pool season. The casino operator will hold a seasonal job fair next week to hire more than 700 summer positions at the company’s 12 Strip resorts. Seasonal employees will support the properties’ swimming pools and related hotel operations. ... (read more)
Culinary extends olive branch to new owners of Cosmopolitan Las Vegas5 January 2015
LAS VEGAS -- More than a year ago, Culinary union members stood outside The Cosmopolitan of Las Vegas and called visitors to the Strip resort names such as “scabs,” “beached whales,” and “losers.” What a difference 14 months can make. The 2,995-room Cosmopolitan is under new ownership following the resort’s $1.73 billion sale to Blackstone Real Estate Partners VII. ... (read more)
Shareholders to vote Feb. 10 on GTECH-IGT merger5 January 2015
LAS VEGAS -- Shareholders of slot machine developer IGT - International Game Technology will vote Feb. 10 on the company’s $6.4 billion merger agreement with lottery provider GTECH Holdings. IGT agreed last summer to be acquired by Italy-based GTECH for $4.7 billion in cash and stock, and assumption of $1.7 billion of the Nevada-based slot maker’s debt. ... (read more)
Analysts thought Macau's first-ever annual dip could have been worse5 January 2015
Macau’s first-ever annual gaming revenue decline wasn’t a surprise although analysts worried for months the market would suffer an even larger decrease than its 2.6 percent dip in 2014. The worry is now about 2015 and what effect continued softness in the world’s largest gambling enclave will have on Nevada casino operators. ... (read more)
Nevada statewide gaming revenue up, but Strip numbers fall again31 December 2014
LAS VEGAS -- Nevada ended three straight months of gaming revenue declines in November. Strip casinos weren’t so lucky. A hefty drop in table game revenue — which included a 1.1 percent dip in baccarat results — sent Strip resorts to their fourth straight monthly gaming decrease in 2014. The Nevada State Gaming Control Board released the results Tuesday. ... (read more)
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