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Howard Stutz Gaming Guru - Page 53Full House Resorts narrows loss, still pursuing sale7 November 2014
Regional casino operator Full House Resorts, Inc. reduced a quarterly net loss from a year ago while telling investors it would continue to pursue a sale of the Las Vegas-based company. During a conference call Thursday, Full House Chairman and CEO Andre Hilliou asked stockholders to ignore overtures from a ... (read more)
IGT sees profits rise despite revenue dip7 November 2014
Slot machine giant IGT - International Game Technology grew profits in the fourth quarter, despite a decline in revenue, the company announced Thursday. IGT, which is being bought by Italian lottery provider GTECH Holdings for $6.4 billion, said net income for the quarter that ended Sept. 30 was $70.9 million, compared with $64.5 million in the same quarter of 2013. ... (read more)
Pinnacle Entertainment plans to split off casinos into a REIT7 November 2014
Pinnacle Entertainment, Inc. ended gaming industry speculation Thursday by announcing plans to split off the regional casino company’s properties into a real estate investment trust. If successful — Las Vegas-based Pinnacle said the process could take up to a year to complete — the company will become two publicly traded entities. ... (read more)
Web gaming backers face bleak prospects after election, analysts say6 November 2014
Supporters of federal legalization of Internet gaming could be the biggest losers following the 2014 midterm elections, according to analysts. The issue is not expected to gain traction in Washington, D.C., come January, after the new Congress is seated. With Republicans taking control of the U.S. ... (read more)
Indian tribe backed by Station Casinos loses referendum6 November 2014
A Station Casinos, Inc.-backed Indian tribe lost its California ballot referendum Tuesday, leaving a casino project on a site near Fresno in limbo. Proposition 48 asked statewide voters to approve the North Fork Rancheria of Mono Indians’ casino project that was OK’d by lawmakers and Gov. Jerry Brown. ... (read more)
MGM officially awarded Massachusetts gaming license6 November 2014
Massachusetts gaming regulators officially awarded MGM Resorts International a gaming license Thursday to develop an $800 million hotel-casino complex in Springfield. The process was been put hold until a ballot question that sought to repeal the state’s casino law was decided. On Tuesday, Massachusetts voters overwhelmingly rejected the referendum. ... (read more)
Bay State voters choose to preserve fledgling casino industry5 November 2014
Massachusetts voters saved the state’s fledgling casino industry Tuesday by overwhelming rejecting a ballot referendum that would have tossed a three-year-old gaming law. The question was soundly defeated with almost 60 percent of electorate voting no. The move paves the way for multi-billion dollar casinos to be built by MGM Resorts International and Wynn Resorts, Limited. ... (read more)
Gaming group CEO tapped for U.S. Chamber panel5 November 2014
American Gaming Association (AGA) CEO Geoff Freeman was one of six business executives named Tuesday by the U.S. Chamber of Commerce to its Association Committee of 100. The committee, often called the C100, meets to network, build partnerships and discuss current issues. Freeman joins the CEOs of ... (read more)
Macau casino revenue dips record 23.2 percent in October5 November 2014
Macau’s casino market experienced a 23.2 percent decline in gaming revenue during October, the largest single-month drop since American-owned casinos began operating in the Chinese market in 2004. Total casino revenue was $3.5 billion in October — Macau’s fifth straight monthly decline, the Macau Gaming Inspection and Coordination Bureau said Tuesday. ... (read more)
Possible Boyd spinoff into REIT excites investors5 November 2014
It’s unclear if Boyd Gaming Corporation will ultimately spin off all or a portion of the company’s casinos into a real estate investment trust. But the idea certainly piqued the interest of the investment community. Shares of Boyd jumped almost 5 percent in value on the New York Stock Exchange last Friday, ... (read more)
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