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Howard Stutz Gaming Guru - Page 82Inside Gaming: Internet gaming giant tries again31 March 2014
You have to hand it to online gaming giant PokerStars. Despite setback after setback, the Europe-based company won’t give up on its quixotic quest to break into the fledgling U.S. Internet gaming market. After failing in Nevada and New Jersey, the new target is California. But odds are PokerStars is once again drawing dead. ... (read more)
Caesars to close money-losing casino in Tunica, Miss.28 March 2014
LAS VEGAS -- Caesars Entertainment Corporation said Wednesday it would close one of its three casinos in Tunica, Miss. on June 2, saying “persistent declines in business” made the market’s largest hotel-casino unprofitable. John Payne, president of Caesars Central Markets, said the decision to close the ... (read more)
IGT financial woes a drag on entire gaming equipment sector28 March 2014
LAS VEGAS -- Slot machine giant IGT - International Game Technology took a battering from investors Wednesday and analysts worried sour financial predictions announced 24 hours earlier might taint rival companies in the gaming equipment sector. IGT on Tuesday said it is reducing its worldwide workforce by 7 percent and trimmed earnings prospects, blaming a decline in gaming revenue in U.S. ... (read more)
Sands board member becomes online gaming company stakeholder28 March 2014
LAS VEGAS -- New York-based investor Jason Ader, a Las Vegas Sands Corp. board member, has become the second-largest shareholder in European online gaming giant Bwin.party, acquiring a 6 percent stake in the London Stock Exchange-listed business in February. The investment could seemingly put Ader at odds with Las Vegas Sands Chairman Sheldon Adelson. ... (read more)
Caesars plan to borrow $1.3 billion for asset shift hits opposition27 March 2014
LAS VEGAS -- Caesars Entertainment Corporation said Wednesday a group of the company’s “unidentified note holders” want to kill off Caesars Growth Partners, the casino operator’s growth-oriented affiliate. The company revealed the matter in a filing with the Securities and Exchange Commission in which it ... (read more)
Indian casinos set new revenue record, topping $28.13 billion26 March 2014
Three years after the nation’s Indian casino industry experienced its only annual gaming revenue decline in the 24 years since figures have been kept, the market is on an upswing. For the second straight year, Indian casinos nationwide combined for a new annual gaming revenue record, topping $28.13 billion in 2012. ... (read more)
IGT expands use of Wheel of Fortune brand in gaming26 March 2014
LAS VEGAS -- Slot machine giant International Game Technology announced a new multiyear licensing agreement with Sony Pictures Monday that allows the Las Vegas-based company to use the “Wheel of Fortune” brand on its product lines through 2024. The deal covers traditional slot machines, online games, mobile devices and free-play social games. ... (read more)
Making a disused hotel roof a striking Las Vegas pool club26 March 2014
LAS VEGAS -- Nightclub operator Victor Drai considered the roof of the former Barbary Coast and Bill’s Gamblin’ Hall & Saloon untapped potential. Drai, 66, a Los Angeles-based nightlife mogul, operated Drai’s After Hours in the basement of the small Strip casino. On New Year’s Eve he would venture to the roof of the 11-story property to watch the annual fireworks show. ... (read more)
Time helps change perspective of analysts on MGM Resorts25 March 2014
LAS VEGAS -- Earlier this month, MGM Resorts International Chairman and CEO Jim Murren participated in the annual J.P. Morgan Gaming, Lodging, Restaurant and Leisure Management Access Forum at the Mandarin Oriental. Murren spent roughly 40 minutes answering questions from clients of the international investment firm concerning MGM Resorts’ development projects in the U.S. ... (read more)
Inside Gaming: Fattest fines have come in a flurry25 March 2014
LAS VEGAS -- Million-dollar fines for violating Nevada gaming law used to be rare. But in the past 15 months, state casino regulators have accepted three separate seven-figure payments from gaming companies to settle Nevada State Gaming Control Board Gaming Commission disciplinary complaints. That’s the same number of seven-figure fines the state had issued in all of the previous 28 years. ... (read more)
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