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Howard Stutz Gaming Guru - Page 71Inside Gaming: PokerStars deal made with eye on California18 June 2014
California is known for having high-priced beachfront real estate. But even $4.9 billion might not be enough of a payment to let a Canadian gaming company settle into the neighborhood. Montreal-based Amaya Gaming Group, Inc.’s agreement last week to acquire the parent company of online gaming giant PokerStars — the largest Internet gaming purchase — is all about California. ... (read more)
Caesars extends offer to purchase $791.8 million in long-term debt18 June 2014
Caesars Entertainment Corp., extended by more than a week an offer for investors to purchase $791.8 million in the company’s long-term debt. The casino operator had previously extended the offer to end Monday. The offer now expires June 27. The bond purchases are part of the company’s effort to restructure ... (read more)
MGM, Prince George's County sign community benefits agreement18 June 2014
MGM Resorts International and Prince George’s County signed a community benefits agreement on Tuesday that ensures 50 percent of the jobs slated for the $925 million MGM National Harbor will go to local residents. The agreement also has provisions for a specific percentage contracts to be awarded to area minority-owned businesses during the construction phase of the development. ... (read more)
SLS preparing countdown to Aug. 23 grand opening17 June 2014
The countdown has begun. Operators of the SLS Las Vegas Hotel Casino said the $415 million hotel-casino will open at midnight Aug. 23. To herald the opening date, a countdown will begin Tuesday morning on the north Strip resort’s new marquee. The 1,600-room property — a renovation of the Rat Pack-era ... (read more)
Slot machine maker IGT says in statement company is exploring 'strategic alternatives'16 June 2014
Slot machine giant International Game Technology all but confirmed the company is up for sale Monday, saying in a statement it was “currently” exploring “a broad range of strategic alternatives.” In a one-paragraph comment, IGT said its board of directors and senior management are “currently engaged” in ... (read more)
Inside Gaming: Gaming techies reaching for more15 June 2014
Lawmakers spent all of 15 seconds discussing technology at the final three-hour session of the Committee to Conduct an Interim Study Concerning the Impact of Technology Upon Gaming. The panel’s focus over four meetings seemed to be a renewed effort to kill off tavern operator Dotty’s. That idea failed — again. ... (read more)
Nevadan at Work: Executive's first Las Vegas visit came late in life14 June 2014
Anton Nikodemus never visited Las Vegas until he came to town for a job interview with the MGM Grand. That moment took place in 2005, when Nikodemus was well into his career as a hotel and hospitality executive. We say surprisingly because Nikodemus was born and raised in the Phoenix area. He attended Arizona State University. ... (read more)
PokerStars parent company acquired by Canadian firm in $4.9 billion transaction13 June 2014
A Canadian online gaming company has agreed to acquire the parent firm of PokerStars in a $4.9 billion transaction, but there are several hurdles to climb before Nevada gamblers could see the popular Internet wagering site on their computer screens. Amaya Gaming Group Inc. of Montreal said Friday it will ... (read more)
Speaker: Casino industry can take steps to trace high roller's bankroll12 June 2014
The head of the federal agency assigned to investigate money laundering crimes told a Las Vegas audience Thursday the casino industry can discover the origins of a high roller’s bankroll in the same way a casino host determines that customer’s favorite wine or music preferences. Jennifer Shasky Calvery, ... (read more)
Upset of Cantor topples one of Adelson's closest Capitol Hill allies11 June 2014
The stunning primary election defeat of House Majority Leader Eric Cantor, R- Va., Tuesday removed one of Sheldon Adelson’s closest Capitol Hill allies from office. Gaming and political analysts speculated Wednesday on the magnitude of Cantor’s defeat to a tea party-backed Republican and what it might mean for Adelson’s agenda in Washington, D.C. ... (read more)
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