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Howard Stutz Gaming Guru - Page 54Scientific Games says Bally Technologies deal is on track3 November 2014
LAS VEGAS -- Scientific Games Corporation executives have assured the investment community the company’s $5.1 billion buyout of Bally Technologies, Inc. is on track to close by the end of the year. During the lottery giant’s third-quarter earnings call Thursday, CEO Gavin Isaacs said the company has the ability to fund the purchase. ... (read more)
Vote to reverse Bay State casinos appears losing — or will it?3 November 2014
By all accounts, a referendum to undo Massachusetts’ casino law should get crushed in Tuesday’s election and lose by 15 to 20 percentage points. That’s what the most recent polls say. Then again, this is Massachusetts. Nothing has been simple when its comes to the state’s nascent casino business. ... (read more)
MGM Resorts reduces third-quarter net loss31 October 2014
LAS VEGAS -- MGM Resorts International narrowed its third-quarter net loss, but said the company’s results on the Strip were somewhat tempered by construction activity related to its various renovation projects. MGM’s Strip properties as a whole suffered from a lower year-over-year table games hold on wagers. ... (read more)
MGM in 'preliminary' talks to bring NHL to Vegas31 October 2014
LAS VEGAS -- The chief financial officer for MGM Resorts International said Thursday the company has held discussions with a group looking to bring a National Hockey League team to Las Vegas, but the talks were preliminary. The casino operator is building a $350 million sports arena and event center behind New York-New York Hotel & Casino on the Strip. ... (read more)
Boyd Gaming evaluating REIT spin-off31 October 2014
LAS VEGAS -- Boyd Gaming Corporation is evaluating the formation of a real estate investment trust, which could spin off all or a portion of the Las Vegas-based company’s casino holdings into a separate entity. Boyd Gaming CEO Keith Smith said Thursday the company is working with advisors to understand the feasibility of the process. ... (read more)
Bally Technologies sees dip in quarterly earnings31 October 2014
LAS VEGAS -- Slot machine manufacturer Bally Technologies, Inc. saw first-quarter earnings dip slightly while revenue increased 29 percent. The Las Vegas-based company said its net income for the quarter than ended Sept. 30 was $62.4 million, compared with $57 million in the same quarter a year ago. ... (read more)
Creditor walks away from restructuring talks with Caesars30 October 2014
LAS VEGAS -- One of Caesars Entertainment Corporation’s main creditors has walked away from talks on restructuring a large portion of the casino company’s $24.2 billion debt. In a filing with the Securities and Exchange Commission on Wednesday, Caesars said the creditor declined to extend a nondisclosure agreement to gain access to private information about the company’s operating units. ... (read more)
REIT sues Cannery Casino Resorts over racetrack casino purchase29 October 2014
LAS VEGAS -- The company buying a Pittsburgh area racetrack casino owned by Cannery Casino Resorts has sued the Las Vegas-based casino operator for allegedly breaching the $465 million purchase agreement. Gaming and Leisure Properties, the real estate investment trust spin-off from Penn National Gaming, ... (read more)
SEC approves Full House shareholder solicitation29 October 2014
A group of Full House Resorts, Inc. shareholders were given the go-ahead by the Securities and Exchange Commission Tuesday to solicit other stockholders of the casino operator on holding a special vote to remake the company’s board. The five-person group, headed by gaming executive Dan Lee, controls 6.2 percent of the Las Vegas-based company’s shares. ... (read more)
Wynn revenues dip, but profits up in Q329 October 2014
LAS VEGAS -- Wynn Resorts, Limited said Tuesday the company had a 1.4 percent dip in revenue in the third quarter, but results from the casino operator’s Strip properties boosted profits. Wynn said its net income for the quarter that ended Sept. 30 was $191.4 million, or $1.88 per share. A year ago, the company reported net income of $182 million, or $1.79 per share. ... (read more)
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