 Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter! Howard Stutz Archives
More Strategy Experts
|
Howard Stutz Gaming Guru - Page 75Wynn promotes Cootey to CFO slot22 May 2014
LAS VEGAS -- Wynn Resorts, Limited named its head of corporate finance as the company’s chief financial officer. In a filing with Securities and Exchange Commission, the company said Stephen Cootey would replace Matt Maddox, who will continue to serve as president of Wynn Resorts. Cootey, a former Wall ... (read more)
Pinnacle drops New York casino bid22 May 2014
Regional casino operator Pinnacle Entertainment withdrew from consideration for one of four gaming licenses in New York, state gaming officials announced late Tuesday. Las Vegas-based Pinnacle had been tied to a potential casino project near Albany. The New York Gaming Facility Location Board said Pinnacle asked for a refund of its $1 million license application deposit. ... (read more)
Las Vegas Sands president to retire; Adelson remains as CEO22 May 2014
Las Vegas Sands Corp. will have new president by the end of the year, but company Chairman Sheldon Adelson squashed media reports that he would be giving up the CEO duties any time soon. In a statement released late Wednesday night, the 80-year-old billionaire invoked author Mark Twain, saying “the rumors ... (read more)
Inside Gaming: Revival not fueled by gaming21 May 2014
LAS VEGAS -- Just as the recession began to grip Las Vegas in 2008, gaming executive Terry Lanni made a prediction. During an interview at his offices in the Bellagio, Lanni said a Las Vegas market recovery was not going to be like any other time tourism and gaming businesses experienced a downturn. ... (read more)
Cannery Casino Resorts sells Pennsylvania racetrack casino16 May 2014
LAS VEGAS -- Las Vegas-based Cannery Casino Resorts, LLC has sold its Pennsylvania racetrack casino for $465 million to Penn National Gaming, Inc.’s real estate investment trust spin-off. The transaction, announced Wednesday, is subject to regulatory approval and expected to close by the end of the year. ... (read more)
Bally Technologies ousts CEO, taps former CEO for post16 May 2014
LAS VEGAS -- Bally Technologies, Inc. Chairman Richard Haddrill returned to the slot machine manufacturer’s CEO position Thursday, replacing Ramesh Srinivasan in a move that surprised the investment community. In a statement released shortly after the stock markets closed, Bally said Haddrill would cede the chairman’s role but would remain on the company’s board of directors. ... (read more)
Cosmopolitan of Las Vegas sold to Blackstone Group for $1.73 billion16 May 2014
LAS VEGAS -- After nearly six years, Deutsche Bank announced Thursday it was parting ways with The Cosmopolitan of Las Vegas, the stylish — but unprofitable — Strip hotel-casino and the last megaresort to open after the recession tore apart the gaming industry. Germany’s largest bank, which took ownership ... (read more)
Weather issues tied to Affinity Gaming's revenue slide15 May 2014
Weather issues that have played havoc with regional gaming markets were blamed for Affinity Gaming’s revenue decline during the first quarter. The Las Vegas-based company said Wednesday its revenue for the three months ended March 31 fell 4.4 percent to $96.6 million. Cash flow declined 22.9 percent. ... (read more)
Don't bet against more growth in Macau gaming15 May 2014
Anytime the investment community gets downwind of a potential hiccup in the Macau gaming market, a slash-and-burn mentality sets in. The victims are often MGM Resorts International, Las Vegas Sands Corp. and Wynn Resorts Ltd. The Las Vegas-based companies have subsidiaries listed on the Hong Kong Stock Exchange and those stock prices usually take a beating. ... (read more)
Removal of Fontainebleau construction crane signals doom for ill-fated Strip hotel15 May 2014
LAS VEGAS -- Construction workers this week began dismantling a large crane that has sat unused atop the mothballed Fontainebleau on the north end of Strip for more than five years. The activity is the latest chapter in the sad history of the shuttered Fontainebleau, which was to have been a 3,889-room hotel-casino with a price tag of $3 billion before the development went bankrupt. ... (read more)
< Previous 10 Articles | Next 10 Articles > |