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Howard Stutz Gaming Guru - Page 7American Gaming Association to investigate 'rational alternative' to sports betting laws12 November 2015
The gaming industry's largest trade group said Wednesday it will spend 2016 determining if "a rational alternative" exists to the nation's current sports wagering laws, which legally allows the activity to take place in just four states. In a statement, the Washington, D.C.-based American Gaming Association ... (read more)
Inside Gaming: North Strip needs a face lift11 November 2015
Recent events surrounding the Strip's troubled northern end are short-term fixes to a problem that can only be resolved with a pair of implosions and a construction effort not witnessed in more than a half-decade. The Strip's line of demarcation seems to be Encore Resort at Wynn Las Vegas. Other than SLS ... (read more)
New York Attorney General tells daily fantasy sites to stop taking bets in state11 November 2015
New York's attorney general said Tuesday daily fantasy sports was illegal gambling and ordered the popular websites DraftKings and FanDuel to immediately stop accepting wagers in the state. The decision by Attorney General Eric Schneiderman dealt a significant blow the multi-billion dollar industry that has come under fire despite being defined as a game of skill by its operators. ... (read more)
Affinity Gaming reverses third-quarter loss11 November 2015
Las Vegas-based Affinity Gaming reversed a net loss in the third quarter, due in part to increased cash flow at the company's Nevada properties. Affinity, which owns 11 casinos in four states, said Tuesday it had profits of $1.99 million in the quarter that ended Sept. 30, reversing a net loss of $3.6 million from a year ago. ... (read more)
Treasure Island owner's $1.3 billion bid for The Mirage rejected11 November 2015
Treasure Island owner Phil Ruffin said Tuesday he offered $1.3 billion last month to buy The Mirage, but the neighboring casino's owner, MGM Resorts International, rejected the deal. Ruffin, 80, who acquired the 2,885-room Treasure Island from MGM in 2009 for $775 million, has long been interested in the resort. ... (read more)
Caesars execs remain upbeat despite net loss10 November 2015
Caesars Entertainment Corp. took a net loss in the third quarter due to accumulation of nearly $1 billion in commitments from bond holders concerning its bankrupt operating division, but said overall revenue increased over the three month period. Caesars CEO Mark Frissora was upbeat Monday during a ... (read more)
Scientific Games not worried about quarterly loss10 November 2015
Scientific Games Corp. CEO Gavin Isaacs said Monday the Las Vegas-based company is in a stronger place within the gaming equipment sector than it was a year ago despite a third-quarter loss. The slot machine and lottery giant said its net loss for the quarter that ended Sept. 30 was $678.2 million, or $7.99 a share, because of non-cash impairment charges. ... (read more)
SLS partners with Starwood to remake hotel tower as W Las Vegas9 November 2015
Lodging giant Starwood Resorts Worldwide has a deal with the SLS Las Vegas Hotel & Casino to land its first W branded hotel on the Strip, a move that could help lift the financial profile of both the resort and its North Strip neighborhood. The hotel company will take over the Lux tower, one of three hotel ... (read more)
Inside Gaming: MGM's REIT won't send the industry into a frenzy8 November 2015
Don't look for the floodgates to open now that MGM Resorts International has unveiled its plans for a real estate investment trust. Two years ago, Penn National Gaming spun off Gaming and Leisure Partners as the first — and only — casino industry REIT. Since then, Pinnacle Entertainment struck a deal to sell its casino holdings to GLPI, and Caesars Entertainment Corp. ... (read more)
Station Casinos has strong third quarter, but won't discuss pending IPO6 November 2015
Those hoping to hear a little more color on Station Casinos planned $100 million initial public offering Thursday were sorely disappointed. At the outset of the company's third quarter conference call with analysts and investors, Chief Financial Officer Marc Falcone said any conversation surrounding the ... (read more)
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