Ameristar Casinos say earnings hurt by fresh competition February 7, 2013 at 5:43 pm Howard Stutz, LAS VEGAS REVIEW-JOURNAL Ameristar Casinos said Thursday new competition in several regional markets caused a decline in fourth-quarter revenues and profits. The Las Vegas-based casino operator, which is being bought by rival Pinnacle Entertainment for an enterprise value of $2.8 billion, released results for the quarter that ended Dec. 31. The company did not hold an … [Read more...]
N.Y. investment firm questions IGT’s decision-making February 7, 2013 at 4:42 pm Howard Stutz, LAS VEGAS REVIEW-JOURNAL A New York-based investment firm Thursday became International Game Technology's first outside shareholder to publicly question the slot machine manufacturer's management decision-making since a proxy fight surfaced last month over the company's direction. In an open letter to IGT Chairman Phil Satre, Orange Capital LLC Managing Director Daniel Lewis … [Read more...]
Casino revenue up in Columbus, down in Cleveland February 7, 2013 at 4:36 pm COLUMBUS, Ohio (AP) - Casinos in Columbus and Toledo saw their numbers increase slightly in January while the take at Cleveland's casino in January fell from December. The Ohio Casino Control Commission released its revenue reports Thursday for the state's three casinos. Revenue at the casino in Columbus was $18.2 million last month. The Toledo casino pulled in just under $14.3 … [Read more...]
$217M Powerball ticket sold at Richmond airport February 7, 2013 at 2:25 pm Steve Szkotak, ASSOCIATED PRESS RICHMOND, Va. (AP) - Virginia Lottery officials awaited word Thursday from the holder of a winning $217 million Powerball ticket that could have some air miles on it: It was purchased at Richmond International Airport. Up to 10,000 travelers pass through the suburban airport daily, and all go by the self-service machine where the winning numbers were played. … [Read more...]
Christie decision expected on Internet gambling February 7, 2013 at 7:29 am Wayne Parry, ASSOCIATED PRESS ATLANTIC CITY, N.J. (AP) - Gov. Chris Christie is expected to decide whether to sign or veto a bill that would make New Jersey the third state in the nation to allow gambling over the Internet. Thursday is the deadline for the governor to act on the bill, which was passed by the Legislature in December. Christie vetoed a similar bill in March 2011, voicing … [Read more...]
Analyst says price to buy WMS Industries too high February 7, 2013 at 5:06 am Howard Stutz, LAS VEGAS REVIEW-JOURNAL A Wall Street analyst told investors this week that a lottery equipment manufacturer is paying too much in its $1.5 billion buyout of slot machine developer WMS Industries. Deutsche Bank gaming analyst Kelly Knybel took a negative view of the deal announced last week. New York-based Scientific Games Corp. said it will pay $26 per share for WMS, a … [Read more...]
Gaming stock values drop in Macau February 7, 2013 at 5:06 am Chris Sieroty, LAS VEGAS REVIEW-JOURNAL Share prices of most Las Vegas gaming companies with ties to Macau fell Wednesday after the Times of London reported China may be preparing to target junket operators with links to organized crime. China's government is expected to clamp down later this month on the operators, who bring gamblers from the mainland to Macau, the Times reported. By … [Read more...]
Mass. forum to discuss Internet gambling February 7, 2013 at 4:00 am BOSTON (AP) - The Massachusetts Council on Compulsive Gambling will host a public forum on Internet gambling. State Treasurer Steven Grossman said in December that he plans to ask the state Legislature to eliminate existing barriers in state law that prevent the lottery from selling tickets and other games online. Speakers at the forum will discuss how Internet gambling will affect people … [Read more...]
Ohio regulators to report monthly casino revenue February 7, 2013 at 3:01 am COLUMBUS, Ohio (AP) - Ohio regulators are set to release the latest monthly revenue report for the state's three casinos. The report due Thursday from the Ohio Casino Control Commission covers January revenue from gambling sites in Cleveland, Columbus and Toledo. Last month's report showed bettors put more money into slot machines and table games at the two northern Ohio facilities in … [Read more...]
Tribe and DiamondJacks owner sue each other February 6, 2013 at 8:16 pm Jeff Amy, ASSOCIATED PRESS JACKSON, Miss. (AP) - An Oklahoma Indian tribe and the bankrupt owner of two DiamondJacks casinos are suing each other over the collapse of the tribe's plan to buy the gambling halls. Global Gaming Solutions, a unit of the Chickasaw Nation of Oklahoma, wants a federal bankruptcy judge to declare that it didn't break its agreement to buy gambling halls in Bossier … [Read more...]
Measure means raffles could become legal in SC February 6, 2013 at 7:58 pm Seanna Adox, ASSOCIATED PRESS COLUMBIA, S.C. (AP) - Church cake walks and quilt raffles may finally become legal in South Carolina, as gambling opponents who've long blocked raffle-enabling legislation are giving a thumbs-up to the latest version. Schools, churches and other nonprofits could hold a limited number of regulated raffles yearly under legislation advanced Wednesday by a Senate … [Read more...]
Philly casino applicant teams with Mohegan Sun February 6, 2013 at 5:00 pm PHILADELPHIA (AP) - One of the applicants for the second Philadelphia casino license has announced that Mohegan Sun will be a partner and operator for the proposed Center City casino. Market East Associates is one of six applicants for the license. Mohegan Sun, owned by the Mohegan Tribal Gaming Authority, operates a flagship casino in Uncasville, Conn., and a racetrack casino in … [Read more...]
Iowa’s Warren County could be casino site February 6, 2013 at 6:30 am DES MOINES, Iowa (AP) - Economic development leaders are exploring the idea of developing a casino in Warren County, which sits just south of Des Moines. Jason White is executive director of Warren County Economic Development Corp. He says the economic group is talking to industry leaders and surveying residents on whether they would support a casino in northwest Warren County. There are … [Read more...]
Beshear: Horse industry split on casino amendment February 5, 2013 at 5:05 pm Roger Alford, ASSOCIATED PRESS FRANKFORT, Ky. (AP) - Disagreement within the horse racing industry has made it questionable whether the Legislature can pass a constitutional amendment on casinos this year, Gov. Steve Beshear said Tuesday. Beshear told reporters that Kentucky's horse racing industry is divided on how to proceed, which has weakened the chances of passing an … [Read more...]
Cab company staffs up in anticipation of a strike February 5, 2013 at 4:22 pm Tim O'Reiley, LAS VEGAS REVIEW-JOURNAL With most of its taxi drivers positioned to go on strike at any time, Yellow Checker Star Transportation has launched a recruiting campaign promising an "exceptional opportunity for career-minded individuals." In both print and online ads, the city's second-largest cab company began seeking people with a "good DMV printout" interested in "average … [Read more...]
Bill on sweepstakes machines advances in SC House February 5, 2013 at 3:35 pm COLUMBIA, S.C. (AP) - A bill specifying that sweepstakes machines are illegal gambling is advancing in the South Carolina House. The Judiciary Committee voted Tuesday to move the bill to the House floor. The Senate approved the measure last month. The bill is designed to close any loophole business owners cite to operate so-called sweepstakes cafes. State Law Enforcement Division Chief … [Read more...]
Caesars may offer minority stakes to raise $1.5 billion in debt February 5, 2013 at 1:58 pm Howard Stutz, LAS VEGAS REVIEW-JOURNAL Caesars Entertainment Corp. said it might sell minority stakes in the Planet Hollywood casino and its interactive gaming business as part of its effort to raise an additional $1.5 billion in debt. In a filing with the Securities and Exchange Commission, Caesars said it would retain majority ownership and operational aspects of the assets. "We are … [Read more...]
Overheated motor prompted Excalibur evacuation February 5, 2013 at 11:59 am LAS VEGAS (AP) - Officials are blaming an overheated ventilation motor in Las Vegas' Excalibur casino for a smoky smell and an evacuation in the wee hours of the morning. MGM resorts spokesman Gordon Absher says one of the Las Vegas Strip casino's four towers was evacuated after alarms went off about 2 a.m. Tuesday. KTNV reports guests were allowed back in about 4 a.m. Absher says there was … [Read more...]
Philly developer seeking casino pays unpaid taxes February 5, 2013 at 7:22 am PHILADELPHIA (AP) - Officials say a Philadelphia developer seeking a casino license in the city had owed more than $120,000 in taxes to the city before settling his bill last month. Developer Bart Blatstein tells The Philadelphia Daily News and WHYY radio's NewsWorks (http://bit.ly/UUup0X ) he learned about the tax issue late last month. He settled the bill on Jan. 25. Revenue Commissioner … [Read more...]
Fans bet record $98.9M in Nevada on Super Bowl February 5, 2013 at 6:56 am Hannah Dreier, ASSOCIATED PRESS LAS VEGAS (AP) - Sports fans bet a record $98.9 million at Nevada casinos on the Super Bowl, the Nevada Gaming Control Board said Monday. Unaudited tallies show 183 sports books made $7.2 million on the football action. The San Francisco 49ers started out as a 5-point favorite but the Baltimore Ravens won 34-31. Odds makers say California fans drove the … [Read more...]
Tribe no longer plans to buy La., Miss. casinos February 4, 2013 at 7:15 pm Jeff Amy, ASSOCIATED PRESS JACKSON, Miss. (AP) - An Oklahoma Indian tribe is no longer planning to spend $125 million to buy the bankrupt DiamondJacks casinos in Bossier City, La., and Vicksburg, Miss., from Legends Gaming. Global Gaming Solutions, a unit of the Chickasaw Nation of Oklahoma, wrote in court papers filed Jan. 25 that the DiamondJacks operations had run further downhill since … [Read more...]
Fans bet record $98.9M in Nevada on Super Bowl February 4, 2013 at 6:56 pm Hannah Dreier, ASSOICATED PRESS LAS VEGAS (AP) - Sports fans bet a record $98.9 million at Nevada casinos on the Super Bowl, the Nevada Gaming Control Board said Monday. Unaudited tallies show 183 sports books made $7.2 million on the football action. The San Francisco 49ers started out as a 5-point favorite but the Baltimore Ravens won 34-31. Odds makers say California fans drove the … [Read more...]
Ravens’ Super Bowl win sets likely ratings record February 4, 2013 at 5:42 pm David Bauder, ASSOCIATED PRESS NEW YORK -- With a partial power outage, an overly excited quarterback and a game that suddenly turned from snoozer to sizzler, CBS had its hands full at the Super Bowl. The game fell short of setting a viewership record, but it stands as the third most-watched program in U.S. television history. The Nielsen Co. said an estimated 108.4 million people watched … [Read more...]
Caesars seeks $1.5 billion in new debt February 4, 2013 at 5:38 pm Howard Stutz, LAS VEGAS REVIEW-JOURNAL Caesars Entertainment Corp. Monday announced plans to issue $1.5 billion in new debt to pay down other loans while pushing due dates to 2020. In a filing with the Securities and Exchange Commission, Caesars said the proceeds also would cover related fees and expenses. Caesars Entertainment, which operates 10 resorts on or near the Strip and more than … [Read more...]
Vegas sports books project modest Super Bowl win February 4, 2013 at 3:51 pm (Updated) Hannah Dreier, ASSOCIATED PRESS LAS VEGAS (AP) - The Baltimore Ravens won the game but the question in Las Vegas is how much was bet and won on the Super Bowl. Bookmakers are projecting a moderate profit, despite losing big on proposition bets, including a long-shot on whether there would be a safety. Ravens punter Sam Koch took a safety for the final score with 4 seconds … [Read more...]
