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Howard Stutz Gaming Guru - Page 73Caesars fires back after bondholders file notice of default6 June 2014
Caesars Entertainment Corp. struck back Friday against a group of 13 bondholders that filed a notice of default against the casino giant, calling the claims “baseless” and vowing to defend itself. The company, which controls 10 Strip resorts and carries a gaming industry-high $23 billion in long-term debt, revealed the default notice in a filing with the Securities and Exchange Commission. ... (read more)
Bally Technologies to buy social gaming company for $100 million5 June 2014
Better late than never. Slot machine giant Bally Technologies joined its rivals in the rapidly growing social gaming business, saying Thursday it would pay up to $100 million to acquire Dragonplay, an Israel-based social gaming business. Dragonplay, which generated more than $10 million in cash flow over ... (read more)
Widely respected gaming attorney Bob Faiss dies at 795 June 2014
The word “retirement” never entered the vocabulary of gaming attorney Bob Faiss. A few years back, however, he told his wife, Linda, that maybe he would take two weeks away from the offices of Lionel Sawyer &Collins just to explore what the concept of being retired was like. “I said, ‘Honey, that’s what people call a vacation,’?” Linda Faiss said Thursday. ... (read more)
Gaming manufacturer with 'game changing' ideas wins preliminary OK4 June 2014
A gaming equipment manufacturer, that has the idea of combining traditional slot machines with entertainment-style video games, received preliminary approval to operate in Nevada from state gaming regulators Wednesday. During a more-than-90-minute hearing in Carson City, the Gaming Control Board recommended ... (read more)
Downtown Las Vegas workers faced no chance of striking3 June 2014
There was never going to be a strike by downtown Las Vegas hotel workers. Despite the headlines and saber rattling, the leadership of Culinary Local 226 and Bartenders Local 165 wasn’t going to force union members to walk-off their jobs at properties that hadn’t finalized new contracts by 5 a.m. Sunday. ... (read more)
SLS Las Vegas joins independently operated Hilton hotels chain3 June 2014
LAS VEGAS -- The SLS Las Vegas Hotel Casino, which is scheduled to open in late August, will become part of a new chain of independently operated Hilton Worldwide hotels. The announcement Monday places the $415 million SLS into Hilton’s Curio brand. Among the hotels in the collection are the SLS Las Vegas, ... (read more)
Inside Gaming: Macau bans smoking on floors2 June 2014
The special administrative region government last month told its resort operators that smoking will be banned on mass-market gaming floors starting Oct. 6. Here’s the surprise: Macau’s six casino operators — including MGM Resorts International, Wynn Resorts Ltd. and Las Vegas Sands Corp. — asked for the prohibition. ... (read more)
Neither Strip nor Pacquiao can rescue state gaming figures in April30 May 2014
The Strip and Manny Pacquiao couldn’t bail out Nevada in April. Statewide gaming revenue fell less than 1 percent during the month, the third time in the first four months on 2014 that Nevada has reported a decline in results. The Strip, however, saw revenue grow almost 3.2 percent, thanks in large part of high-end baccarat play. ... (read more)
El Cortez reaches deal with Culinary, Bartenders unions30 May 2014
The El Cortez Hotel & Casino became the third downtown Las Vegas casino in two days to reach a tentative agreement on a five-year contract with two unions, averting a strike planned for this weekend. In a statement Wednesday, Culinary Local 226 and Bartenders Local 165 said the contract, which must be ratified by the El Cortez’ non-gaming employees, is retroactive to June 1 last year. ... (read more)
Push for bill draft to define restricted gaming locations fails28 May 2014
LAS VEGAS -- A legislative committee looking at technology and gaming spent roughly 95 percent of its final hearing Tuesday debating taverns and other restricted slot machine businesses and whether or not a litmus test was needed to determine whether gambling revenue was “incidental” to a location’s success. ... (read more)
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