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Howard Stutz Gaming Guru - Page 6Inside Gaming: Let's call daily fantasy sports what it is — gambling18 November 2015
The debate that DraftKings and FanDuel never wanted is taking place. At this juncture, the winning argument is that daily fantasy sports is gambling and not a game of skill. Nevada gaming regulators, based on an attorney general's opinion, said in October daily fantasy was sports wagering under the state's gambling laws. ... (read more)
Z Capital makes fourth attempt to acquire Affinity Gaming17 November 2015
Illinois-based investment group Z Capital, the largest shareholder in casino operator Affinity Gaming, has made its fourth offer in the past two years to acquire the Las Vegas-headquartered company in a deal valued at $700 million. Z Capital CEO James Zenni said Monday he would pay $13 a share to acquire ... (read more)
Stratosphere owner reports third quarter loss despite increases in revenue17 November 2015
Stratosphere Casino Hotel and Tower owner American Casino & Entertainment Properties lost money in the third quarter despite a 6.6% increase in revenue across the company's Southern Nevada casinos. American Casino, which also owns the two Arizona Charlie's properties (Arizona Charlie's Boulder and Arizona ... (read more)
Scientific Games CFO announces retirement17 November 2015
Scientific Games Corp. Chief Financial Officer Scott Schweinfurth will retire at the end to the year, the slot machine and lottery giant announced Monday. Schweinfurth, 61, was CFO at WMS Industries when Scientific Games acquired the slot machine manufacturer in 2013 for $1.5 billion. He spent more than a decade with WMS. ... (read more)
Penn National receives noncompliance notice from Nasdaq17 November 2015
Casino operator Penn National Gaming said it received notice from the Nasdaq that it is not in compliance with listing rules, an announcement the company anticipated. Penn National, which owns the Tropicana Las Vegas and M Resort, said last month it had delayed filing its third quarter financial statement ... (read more)
Inside Gaming: Pieces falling into place for Scientific Games15 November 2015
A year ago, Gavin Isaacs was the dog who actually caught the car he'd been chasing. Scientific Games Corp. spent almost $8 billion in corporate acquisitions to create a gaming equipment provider and manufacturer with 10 divisions touching all aspects of the legalized gambling industry. It was Isaac's job to make all the pieces fit. ... (read more)
SLS Las Vegas loses $38.7 million in third quarter14 November 2015
SLS Las Vegas Hotel & Casino lost $38.7 million in the third quarter and has lost more than $122.7 million in the first nine months of the year, according to a securities filing Friday. There was a bright spot from the raw financial numbers for the Strip resort, which is owned by Stockbridge Capital Partners. ... (read more)
Cosmopolitan makes $4.7 million in third quarter14 November 2015
The Cosmopolitan of Las Vegas on Friday reported its second straight quarterly profit, reversing a net loss from a year ago. The Strip resort, which was purchased late last year by an affiliate of the New York-based Blackstone Group for $1.73 billion, said its net income for the quarter that ended Sept. ... (read more)
IGT reports net profit in third quarter13 November 2015
Slot machine giant International Game Technology, which merged with lottery provider GTECH earlier this year, said Thursday the combined company recorded a net profit of $7.1 million in the third quarter. IGT, which is now headquartered in London but maintains a separate corporate office in Las Vegas, said the combined company grew revenue 30% to $1.22 billion in the quarter that ended Sept. ... (read more)
Full House Resorts reverses third quarter net loss12 November 2015
Regional casino operator Full House Resort reversed a third quarter net loss while cash flow jumped 20.5% for the Las Vegas-based company. Full House, which operates casinos in Northern Nevada, Mississippi, Indiana, said Wednesday net income for the quarter than ended Sept. 30 was $2 million, or 11 cents per share. ... (read more)
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