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Howard Stutz Gaming Guru - Page 60Atlantic City looks to define its gaming future22 September 2014
ATLANTIC CITY, N.J. -- Four years ago, the obituaries for Resorts Atlantic City were being written. The city’s oldest hotel-casino — the first U.S. gaming hall ever licensed outside of Nevada — was in disrepair. The aging resort was bleeding money. Management of the 1920s-era art deco building was troubled. ... (read more)
Instead of boom, a whimper from New Jersey Internet gambling22 September 2014
ATLANTIC CITY, N.J. -- Internet gaming hasn’t provided the windfall New Jersey officials had hoped would come and that analysts had predicted. Through August, online wagering revenue was $83.6 million for the six casinos operating the state’s websites, less than half once imagined for the market. PokerStars could change the outlook. ... (read more)
Inside Gaming: MGM Resorts puts New Jersey regulators' nerves to rest22 September 2014
ATLANTIC CITY - New Jersey Division of Gaming Enforcement Director David Rebuck had one fear in restoring MGM Resorts International’s gaming license for its 50 percent interest in the Borgata. He worried that the Las Vegas-based casino giant was going to take its $86 million from a trust account and flee the state. ... (read more)
WSOP.com claims market leadership in Nevada18 September 2014
Analysts have been disappointed by the numbers produced from Nevada’s 17-month-old online poker network. Caesars Interactive Entertainment doesn’t share that view. The company, a division of Caesars Entertainment Corp., launched WSOP.com - Nevada a year ago Friday. While it didn’t provide revenue figures, ... (read more)
Inside Gaming: Once ignored, Multimedia Games now may see other suitors17 September 2014
Four years ago, Multimedia Games was all but kaput. CEO Anthony Sanfilippo fled for a similar role with casino operator Pinnacle Entertainment and the slot machine manufacturer was headed for the scrap heap. Austin, Texas-based Multimedia put itself up for sale but couldn’t attract a buyer. Six months later, the company changed direction. ... (read more)
Boyd Gaming COO Chakmak leaving the company17 September 2014
Boyd Gaming Corp. said Tuesday chief operating officer Paul Chakmak was leaving the casino company. Chakmak had been with Boyd since 2004. Company CEO Keith Smith said he would assume Chakmak’s responsibilities with the Las Vegas-based regional casino operator. In a statement, Smith said Boyd has been looking for ways to improve its operational performance. ... (read more)
Atlantic City mayor has a mess on his hands15 September 2014
ATLANTIC CITY, N.J. -- Don Guardian won election as mayor of this seaside city last year by telling voters that fixing a government budget crisis requires a three-year-to-four-year plan. He didn’t count on a rash of casino closings on the Boardwalk before the ink was dry on his mayoral business cards. ... (read more)
Caesars moves to restructure $24 billion debt15 September 2014
ATLANTIC CITY, N.J. -- Caesars Entertainment Corporation said Friday it would begin discussions with its senior bondholders in efforts to restructure the largest portions of the company’s gaming industry-high $24.2 billion debt. In a filing with the Securities and Exchange Commission, Caesars announced ... (read more)
Inside Gaming: Industry is not facing slots of fun15 September 2014
LAS VEGAS -- The outlook for U.S. slot machine industry continues to be bleak. Analysts said this month the replacement market — in which slot machine manufacturers sell casinos newer games to change out older products — has fallen from previous estimates. Eilers Research founder Todd Eilers said slow ... (read more)
Gaming Insider: Social casino revenue headed above $2.7 billion15 September 2014
LAS VEGAS -- Eilers Research gaming analyst Adam Krejcik estimates the expanding social casino phenomenon in the U.S. will eclipse $2.7 billion in revenue this year. That’s a pocketful of virtual gaming tokens. The growing activity is one reason Station Casinos, Inc. signed on with the myVegas social gaming site. ... (read more)
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