Howard Stutz, Las Vegas Review-Journal · August 11, 2014 at 7:30 pm
Caesars Entertainment Corp. officials were happy to discuss the company’s second quarter results Monday, including improvements in the Las Vegas market credited to the opening of The Linq and its centerpiece High Roller observation wheel.
But don’t ask about Caesars’ ongoing restructuring plans to address its gaming industry-high $24.2 billion in long term debt.
At the outset of the … [Read more...]
Wayne Parry, Associated Press · August 11, 2014 at 6:56 pm
ATLANTIC CITY, N.J. (AP) - The outlook for two endangered Atlantic City casinos dimmed further on Monday as a state agency said it cannot force their owners to keep them open past this summer, and the owner of one indicated it was moving forward with shutdown plans.
Three Atlantic City-area state lawmakers last month asked the New Jersey Casino Control Commission to require the Showboat and … [Read more...]
Rob Golum, Bloomberg · August 11, 2014 at 6:02 pm
(Bloomberg) -- Caesars Entertainment Corp., the casino operator that’s battling creditors in court over debt restructuring, said its second-quarter loss more than doubled, in part because of higher interest expenses.
The net loss widened to $466.4 million, or $3.24 a share, from $212.2 million, or $1.69, a year earlier, the company said today in a statement. Revenue grew 3 percent to $2.19 … [Read more...]
Associated Press · August 11, 2014 at 5:12 pm
RALEIGH, N.C. (AP) - The North Carolina Education Lottery is starting next month its first numbers game in more than four years.
Lottery officials announced Monday the twice-daily "All or Nothing" game begins Sept. 7.
Players pick 12 numbers - one to 24. There's a $250,000 top prize if all or none of the 12 numbers match those drawn. Four lower prize amounts are possible for other … [Read more...]
Howard Stutz, Las Vegas Review-Journal · August 11, 2014 at 2:22 pm
GTECH Holdings’ $6.4 billion buyout of slot machine giant International Game Technology met one of the conditions required for the transaction to be completed, the companies announced Monday.
The deal received federal antitrust approval through early termination of the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.
The transaction is still subject to … [Read more...]
Brian Witte, Associated Press · August 11, 2014 at 1:00 pm
ANNAPOLIS, Md. (AP) - Maryland's lottery and four casinos made $849.2 million for the state in the last fiscal year, a 2.4 percent increase over the previous fiscal year, the agency that oversees gambling in Maryland reported Monday.
The increase comes as lottery sales dropped about 1.7 percent to $1.7 billion, contributing $521.1 million in revenue to the state's general fund. Stephen Martino, … [Read more...]
Katia Dmitrieva and Donal Griffin, Bloomberg · August 11, 2014 at 12:05 pm
(Bloomberg) -- Jason Ferguson said the job was straightforward: buy a gambling company’s client data and flip it to a rival who could use the information to win new customers.
Instead, the story ended last month with a fleet of cars arriving outside his home in a cul-de-sac in a suburb of Brockville, a town three-and-a-half hours drive northeast of Toronto. The convoy included forensics experts … [Read more...]
David N. Goodman, Associated Press · August 10, 2014 at 7:23 pm
DETROIT (AP) - Operators of Las Vegas-style charitable gambling events are claiming a "significant win" after a judge barred Michigan from enforcing rules that significantly restrict the activities.
Michigan Court of Claims Judge Pat Donofrio issued a permanent injunction Thursday against enforcing the May 14 order by the Michigan Gaming Control Board. Donofrio's decision confirms a temporary … [Read more...]
Philip Marcelo, Associated Press · August 10, 2014 at 9:15 am
PLAINVILLE, Mass. (AP) - Plans to open the state's first slot parlor are moving forward at a harness racing track near the Rhode Island state line despite a vote in three months on whether to repeal Massachusetts' 2011 casino law, which made the project possible.
Penn National Gaming won the state's first gambling license for a proposed slot parlor at the Plainridge Racecourse in February and … [Read more...]
Rachel Crosby, Las Vegas Review-Journal · August 9, 2014 at 10:05 pm
Jubreal Chahine, one of Nevada’s seven-most-wanted cheats, was recently taken into custody at the Sands Resort in Bethlehem, Pa. Chahine, 40, held 21 felony charges and seven warrants when casino employees spotted him on July 19 and called police.
Bright red letters spelling “CAPTURED” now cross out Chahine’s mug shot on the most-wanted list of the Nevada Gaming Control Board, which alerted … [Read more...]
Jill Colvin, Associated Press · August 8, 2014 at 9:08 pm
HOBOKEN, N.J. (AP) - Gov. Chris Christie has vetoed legislation that would have paved the way for sports wagering at New Jersey's casinos and racetracks.
Christie on Friday rejected a bill that would have pushed New Jersey to circumvent a federal law banning gambling on professional and college sports in the state. The U.S. Supreme Court recently declined to take up the state's case, which … [Read more...]
Alan Snel, Las Vegas Review-Journal · August 8, 2014 at 5:46 pm
With all the stadium, arena and ballpark proposals floating around Las Vegas, it’s a challenge to keep track of them all. Here’s the rundown for those keeping score:
The Sure Bet
Arena proposals on the Strip have come and gone through the years, but this $375 million, 20,000-seat arena being built by the high-profile team of Las Vegas-based MGM Resorts International and Los Angeles-based … [Read more...]
Associated Press · August 8, 2014 at 4:00 pm
MADISON, Wis. (AP) - The Wisconsin Lottery has broken its ticket sales record for the third consecutive year.
Wisconsin Lottery Director Mike Edmonds announced Friday that sales for the fiscal year ending on June 30 topped out at nearly $569 million. The previous record set in 2013 was nearly $566 million.
Edmonds says the record marks another good year for taxpayers, business owners and … [Read more...]
Barry Massey, Associated Press · August 8, 2014 at 3:02 pm
SANTA FE, N.M. (AP) - Gov. Susana Martinez's administration has sued the federal government to stop the Interior Department from approving a new gambling compact for Pojoaque Pueblo and imposing it on New Mexico.
The governor's office filed the lawsuit Thursday in federal district court in Albuquerque contending the Interior secretary doesn't have the authority to implement a compact under … [Read more...]
Joshua Fellman and Vinicy Chan, Bloomberg · August 8, 2014 at 5:16 am
(Bloomberg) -- Melco Crown Entertainment Ltd. fell to an 11-month low in Hong Kong trading after posting earnings that missed analyst estimates and saying its Taiwan branch was indicted on foreign-exchange violations.
Melco Crown, a Macau casino operator controlled by Lawrence Ho and Australian billionaire James Packer, dropped 3.9 percent to HK$75.55, the lowest level since September. American … [Read more...]
Associated Press · August 8, 2014 at 2:45 am
CDC Comment (Jeffrey Compton): None of my friends would be surprised but when I read this story I immediately thought of "Fiddler on the Roof."
From the 1971 Tony Awards Zero Mostel performs "If I were a Rich Man!"
CHARLESTON, W.Va. (AP) - West Virginia lottery players can now share their dreams of a jackpot, and get some money to achieve them.
The West Virginia lottery is rolling out the campaign on Friday. Called "Random Acts of Lottery," it invites players of any West Virginia Lottery online game to publicly share the good things they would do for others if they hit it big.
The lottery will randomly … [Read more...]
Richard N. Velotta and Keith Rogers, Las Vegas Review-Journal · August 8, 2014 at 12:10 am
An error during construction of McCarran International Airport’s $99 million, 352-foot Federal Aviation Administration tower will delay the opening of the facility by at least a year and could cost millions of dollars to fix.
Workers on the job site say a chemical coating to prevent the spread of toxic fungus was improperly applied and is ineffective. That means workers might have to cut … [Read more...]
Alex Duff, Bloomberg · August 7, 2014 at 6:00 pm
(Bloomberg) -- Perform Group Plc’s RunningBall unit, which supplies real-time soccer match data, is investigating false information it relayed to bookmakers amid concern reporters could be induced to help commit betting fraud.
Huenenberg, Switzerland-based RunningBall, which says it employs 1,000 observers in 70 countries, said in a statement two days ago that it was “aware of irregularities” … [Read more...]
Associated Press · August 7, 2014 at 5:52 pm
COLUMBUS, Ohio (AP) - A monthly update shows Ohio's casino revenue increased nearly 7 percent in July compared with the previous month but fell short of the totals from a year earlier.
The Ohio Casino Control Commission released the latest revenue figures Thursday. In July, the casinos in Cincinnati, Cleveland, Columbus and Toledo totaled nearly $68 million in revenue. That's down 5.6 percent … [Read more...]
Christopher Palmeri, Bloomberg · August 7, 2014 at 3:47 pm
(Bloomberg) -- MGM Resorts International said it expects to be allowed to operate in New Jersey within the next two months, four years after the casino operator agreed to leave the state amid questions over its business in Macau.
Regulatory approval could allow the company to participate more in the running of the Borgata Hotel Casino & Spa in Atlantic City, which it co-owns with Boyd Gaming … [Read more...]
Sean Whaley, Las Vegas Review-Journal · August 7, 2014 at 1:25 pm
CARSON CITY – The Nevada Supreme Court on Thursday upheld a lower court ruling requiring Las Vegas Sands Corp. turn over documents in the company’s ongoing legal dispute with Steve Jacobs, who served as head of the company’s Macau operations until he was let go in 2010.
Attorneys for Sands argued that turning over the documents without redacting personal information would violate Macau … [Read more...]
Associated Press · August 7, 2014 at 6:00 am
GLENDALE, Ariz. (AP) - The Glendale City Council will consider an agreement next week with the Tohono O'odham Nation over its plan to build a casino resort near the city's sports and entertainment district.
City officials posted a draft agreement of the deal Wednesday. The council is scheduled to vote on the project Tuesday night.
The southern Arizona tribe bought the casino site in 2003 to … [Read more...]
Vinicy Chan, Bloomberg · August 7, 2014 at 5:43 am
(Bloomberg) -- Wynn Macau Ltd. and Galaxy Entertainment Group Ltd. led declines in Macau casino stocks after the world’s largest gambling hub posted the weakest monthly growth in mass market revenues since 2010.
Wynn Macau, a unit of Wynn Resorts Ltd., fell to almost a three-year low before ending down 7.6 percent at HK$29.35 at the close of trading in Hong Kong. Galaxy Entertainment, founded by … [Read more...]
Associated Press · August 7, 2014 at 5:00 am
KANSAS CITY, Kan. (AP) - Five Kansas residents are accused of trafficking in marijuana and laundering the profits through slot machines at a Kansas City, Kansas, casino.
U.S. Attorney Barry Grissom says a federal indictment handed down on Wednesday alleges the defendants laundered more than $200,000 in cash by depositing the money into slot machines and then cashing out without playing.
The … [Read more...]
Associated Press · August 7, 2014 at 3:00 am
COLUMBUS, Ohio (AP) - The latest monthly revenue totals for Ohio's four voter-approved casinos are due to be released by a regulatory panel.
The Ohio Casino Control Commission was scheduled to share the July revenue figures on Thursday afternoon.
In June, the casinos in Cincinnati, Cleveland, Columbus and Toledo saw a revenue slump similar to colder months this year. Revenues that month … [Read more...]
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