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Howard Stutz Gaming Guru - Page 50Internet gambling bill not yet a priority26 November 2014
A congressional hearing on a bill to restore the Interstate Wire Act has lost steam in the current lame-duck session. Pro-Internet gaming folks, however, aren’t taking the silence for granted. The Justice Department ruled in December 2011 that the Wire Act applies only to sports wagering, paving the way for legal online gaming in the U.S. ... (read more)
Nevada gaming revenue dips, but positive note seen in slots26 November 2014
LAS VEGAS -- Despite Nevada and the Strip’s third straight monthly gaming revenue decline — fueled by a more than 35 percent drop in baccarat totals — analysts found a bright spot in what was otherwise a dismal October. After all, it is the start of the Thanksgiving holiday. Statewide, casinos saw revenue fall almost 4.3 percent to $913.6 million during the month. ... (read more)
Caesars calls latest default notice 'meritless'25 November 2014
LAS VEGAS -- Caesars Entertainment Corporation, which has been embroiled in debt reduction talks with its lenders, said Monday one of its banks filed a notice of default against the casino operator. In a filing with the Securities and Exchange Commission, Caesars called the default notice, “meritless.” The ... (read more)
Scientific Games completes $5.1 billion acquisition of Bally24 November 2014
LAS VEGAS -- Scientific Games Corporation completed its $5.1 billion acquisition of slot machine giant Bally Technologies, Inc. on Friday, finalizing the buyout is less than four months. Las Vegas-based Bally, now considered the gaming industry’s largest gaming equipment provider based on market share, will ... (read more)
Wynn Resorts: No federal investigation despite published reports24 November 2014
LAS VEGAS -- Wynn Resorts, Limited said it doesn’t believe it is under federal investigation despite published reports the casino operator is being targeted for potential money-laundering violations. The Wall Street Journal reported Thursday that Las Vegas attorney Donald Campbell, who represents Wynn as an ... (read more)
Nevadan at work: Konami exec, others relay message: Nothing has changed24 November 2014
LAS VEGAS -- Konami Gaming, Inc. isn’t a party in the multibillion-dollar buyouts involving Nevada’s two largest slot machine manufacturers. That doesn’t mean Konami Senior Vice President Thomas Jingoli hasn’t felt effects of the mergers. Konami, which is headquartered in Japan but houses its North ... (read more)
Inside Gaming: Internet poker in California shapes up as coveted prize24 November 2014
California is shaping up as the nation’s Internet poker battleground in 2015. Everyone wants a piece of the potentially lucrative pie. With 38 million residents, California has an Indian casino industry that produces almost $7 billion in annual gaming revenue — one-fourth of the nation’s total. Internet ... (read more)
Analysts favor Caesars move to put key unit into REIT24 November 2014
LAS VEGAS -- Two analysts support Caesars Entertainment Corporation placing its largest operating division into a real estate investment trust to deal with its gaming industry-high debt load, though the company might have backed away from the concept. Fitch Ratings Service said in a report, however, the ... (read more)
Regulators approve Scientific Games $5.1 billion buyout of Bally21 November 2014
LAS VEGAS -- A year ago, New York financier Ronald Perelman was adding a slot machine division to his Scientific Games Corporation, one the top lottery providers in the U.S. As early as Friday, Scientific Games will become the gaming industry’s most diversified global business with 10 different components ... (read more)
MGM Resorts seeking to raise $1 billion in new debt21 November 2014
LAS VEGAS -- MGM Resorts International said Thursday it hopes to raise $1 billion in new debt to help pay for some of the development costs surrounding the company’s hotel-casino projects in Massachusetts and Maryland. The company, which already carries $11.7 billion in long-term debt, said the new debt would come due in 2023. ... (read more)
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