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Howard Stutz Gaming Guru - Page 65SLS Las Vegas operators recommended for Nevada gaming license7 August 2014
LAS VEGAS -- It took more than three-and-a-half hours Wednesday for Nevada gaming regulators to gain a level of comfort with the ownership structure, management and financing for the $415 million SLS Las Vegas Hotel Casino. In the end, operators of the north Strip hotel-casino were recommended for licensing approval by the Gaming Control Board. ... (read more)
Strip properties power MGM earnings6 August 2014
LAS VEGAS -- MGM Resorts International’s single casino in Macau has carried in the company in recent quarterly reporting periods. But not for the three-month reporting period that ended June 30. Backed by healthy gains from 10 Strip developments, MGM Resorts reversed a second-quarter net loss, the company said Tuesday. ... (read more)
Gaming group, child safety nonprofit team up6 August 2014
American Gaming Association (AGA) CEO Geoff Freeman said the organization has partnered with a children’s advocacy group to end a recent trend that has found casino patrons leaving their children in cars while they go inside to gamble. For example, an Oakland, California, woman is facing felony child abuse ... (read more)
Caesars Entertainment files lawsuit against bond holders6 August 2014
LAS VEGAS -- Caesars Entertainment Corporation filed a lawsuit Tuesday in New York against a group of the company’s institutional investors, claiming the bond holders are trying to block the casino operator’s debt restructuring efforts. Caesars named more than two dozen investment firms, hedge funds, and management groups in the lawsuit, which was filed in the Supreme Court of New York. ... (read more)
Isaacs goes from unemployed to CEO of four companies6 August 2014
LAS VEGAS -- Less than 10 months ago, Gavin Isaacs was jobless. By early next year, Isaacs expects to be CEO of a company that controls two of the world’s top three slot machine manufacturers, the casino industry’s largest supplier of table games and casino management products, and the biggest U.S.-based provider of lottery systems. ... (read more)
Australian billionaire buys New Frontier site4 August 2014
LAS VEGAS -- Australian billionaire James Packer said he has acquired controlling interest in a nearly 35-acre Strip land parcel and will form a company to build a hotel-casino on the site with former Wynn Las Vegas President Andrew Pascal and investment firm Oaktree Capital Management. In a statement ... (read more)
Aussie outfit makes U.S. inroads4 August 2014
LAS VEGAS -- While a photographer adjusted lighting equipment, Aristocrat Leisure Limited CEO Jamie Odell relaxed in the Australian gaming equipment manufacturer’s south Las Vegas showroom and played a few free spins on a “Batman” slot machine. Dressed casually in jeans, a dress shirt minus the tie and a sports coat, Odell, 55, was anticipating a 14-hour plane flight that evening. ... (read more)
Scientific Games to buy Bally in $5.1 billion deal4 August 2014
LAS VEGAS -- Lottery manufacturer Scientific Games Corporation will purchase slot machine giant Bally Technologies, Inc. for $5.1 billion in a deal announced Friday. The transaction is the second high-profile gaming industry merger in less than a month. In July, Italian lottery company GTECH Holdings said it was buying slot machine maker IGT - International Game Technology for $6.4 billion. ... (read more)
Boyd Gaming Corp. profits, revenues decline1 August 2014
LAS VEGAS -- Boyd Gaming Corporation’s profits and revenue declined in the second quarter because of continued weakness in many regional markets. The Las Vegas-based company said Thursday its net income for the quarter that ended June 30 was $700,000, or earnings of 1 cent per share. A year ago, the company ... (read more)
Billionaire Packer linked to key Strip parcel1 August 2014
LAS VEGAS -- The long dormant site that once housed the New Frontier and was subject of the Strip’s most expensive real estate could become active once again. Bloomberg News Service reported Thursday that Australian billionaire James Packer had acquired a portion of the loan covering the 34.5-acre site and would consider building a hotel-casino on the land. ... (read more)
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