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Howard Stutz Gaming Guru - Page 8Gaming Control Board OK's Eldorado's purchase of MGM's Reno casinos6 November 2015
Eldorado Resorts' $72.5 million purchase of Circus Circus Hotel Casino - Reno and the remaining half of the Silver Legacy Resort Casino from MGM Resorts International drew praise from Nevada gaming regulators Thursday as the perfect transaction for the resurgent Northern Nevada casino market. The Gaming ... (read more)
Nevada Gold's purchase of Club Fortune passes first step6 November 2015
The Nevada Gaming Control Board granted a preliminary approval to Nevada Gold's purchase of the Club Fortune Casino in Henderson. The deal was announced in May in which Nevada Gold bought the small casino for $14.2 million in cash and 1.2 million shares of Nevada Gold's company stock. Nevada Gold CEO ... (read more)
Golden Entertainment reports profit in first quarter as public company5 November 2015
Las Vegas-based Golden Entertainment, in its first two months as a public company, hopes its initial quarterly results foreshadowed the business's potential for investors. The company — the result of a $341 million merger between Lakes Entertainment and Golden Gaming — said Wednesday its net income for the third quarter was $3 million, or 16 cents per share. ... (read more)
Golden Gate majority owner to acquire remaining 35%5 November 2015
Golden Gate Hotel & Casino majority owner Derek Stevens was approved Wednesday to acquire the remaining 35 percent of the downtown Las Vegas landmark from Mark Brandenburg, whose family founded the casino. Stevens told the Gaming Control Board the deal was a transfer of interest and didn't disclose a sales price. ... (read more)
Nazarian gets temporary OK to sell stake in SLS Las Vegas5 November 2015
Nevada gaming regulators granted temporary approval Wednesday for SLS Las Vegas visionary Sam Nazarian to sell his company's 10% stake in the Strip resort to majority owner Stockbridge Capital Partners. Nazarian, who was granted a one-year limited gaming license last December for the SLS but wasn't allowed ... (read more)
Caesars' bankrupt operating division makes $29.4 million in September5 November 2015
The casinos managed by Caesars Entertainment Corp.'s bankrupt operating division reported a net profit of $29.4 million in September, the casino company said in securities filing Wednesday. Caesars Entertainment Operating Co., which filed for Chapter 11 bankruptcy reorganization in January, is required to file monthly financial reports covering the division's nearly two dozen casinos. ... (read more)
Pinnacle to move stock listing to NASDAQ5 November 2015
Regional casino operator Pinnacle Entertainment said Wednesday it will move its stock listing from the New York Stock Exchange to the NASDAQ on Nov. 17. The Las Vegas-based company did not provide a reason for the switch. Pinnacle will continue to trade on the New York market until the change and the company's stock symbol will continue to be PNK. ... (read more)
Station Casinos looking to sell Strip land parcel for $40 million4 November 2015
Station Casinos is trying to sell nearly 57 acres of undeveloped land on the far south end of the Strip for $40 million although one of the sale requirements is that the land not be used for gaming. The casino operator listed the 56.63-acre site with CBRE Las Vegas. The land fronts Las Vegas Boulevard, ... (read more)
Political watchdog group wants Sheldon Adelson investigated4 November 2015
A progressive political watchdog group wants Congress and the Federal Election Commission to investigate alleged ties between Las Vegas Sands Corp. Chairman Sheldon Adelson and reputed Chinese organized crime figures. A spokesman for Las Vegas Sands immediately dismissed the initiative by the Washington ... (read more)
Merger costs send Everi Holdings to quarterly loss4 November 2015
The effects of last year's $1.2 billion buyout of slot machine maker Multimedia Games is still being felt by Everi Holdings. The Las Vegas-based company — formerly known as Global Cash Access — reported a net loss of $6.1 million in the third quarter Tuesday, due primarily to merger costs. The figure translated into a 9 cents per share net loss. ... (read more)
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