October 20, 2012 at 3:21 am
Chris Sieroty, LAS VEGAS REVIEW-JOURNAL
The owner of the Silver Legacy Resort Casino will go before the U.S. Bankruptcy Court in Reno on Monday seeking approval of an agreement to settle its $142.8 million debt with creditors, allowing it to emerge from five months of bankruptcy protection.
Details of the plan were limited Friday. An executive with Circus and Eldorado Joint Venture said in a … [Read more...]
October 20, 2012 at 3:20 am
Tim O'Reiley, LAS VEGAS REVIEW-JOURNAL
Kazuo Okada folded his campaign to elect two hand-picked directors to the Wynn Resorts Ltd. board Friday after acknowledging that his legal position made it impossible to win.
Simultaneously, he appealed to the Nevada Supreme Court an Oct. 2 lower court ruling turning down his request to vote the 19.6 percent stake in Wynn Resorts, held by his … [Read more...]
Laura Carroll, LAS VEGAS REVIEW-JOURNAL
This is the closest you may ever get to being able to walk inside of a Chanel handbag.
Just inside the hotel suite inside Four Seasons Las Vegas, a shiny, black quilting pattern graces the front of a credenza. Beyond that, rich cream-colored chairs are accessorized with silver studded edges. Silver interlocking C's cover the bar mirror and the snack … [Read more...]
October 20, 2012 at 2:31 am
HONG KONG (AP) - Casino operator SJM Holdings says it has signed a deal to buy land for a new casino in Macau, the world's biggest gambling market, giving it a chance to catch up with its rivals' rapid expansion.
The company founded by billionaire Stanley Ho said late Friday that it has accepted a contract to buy a plot of land in Cotai, the district earmarked for all future … [Read more...]
October 19, 2012 at 4:49 pm
(Updated) Jack Gillum, Associated Press
WASHINGTON (AP) - Who are the biggest donors to the campaigns of President Barack Obama and Republican challenger Mitt Romney? The Associated Press examined more than 2.3 million campaign contributions and ranked the top five financial supporters for each.
Those donors and others are funding a presidential election on track to cost nearly $2 billion, … [Read more...]
October 19, 2012 at 12:36 pm
Chris Sieroty, Las Vegas Review Journal
British bookmaker William Hill Plc said Friday it has requested a valuation for the 29 percent minority stake held by partner Playtech Ltd., a first step in assuming full control of its fast-growing and profitable online joint venture.
William Hill, owner of William Hill U.S. and 159 sports books and kiosks in Nevada, said its operating profit rose 26 … [Read more...]
October 19, 2012 at 10:05 am
BOSTON (AP) - What promises to be a lengthy vetting process for would-be Massachusetts casino developers has officially begun.
The state's gaming commission planned on Friday to make available on its web site Phase 1 applications for developers seeking one of the three licenses for destination resort casinos permitted under the nearly one-year-old gambling law.
The … [Read more...]
October 19, 2012 at 9:45 am
Howard Stutz, LAS VEGAS REVIEW-JOURNAL
Affinity Gaming has been licensed in Colorado, allowing the Las Vegas-based casino operator to complete its acquisition of three gaming properties outside of Denver.
The company announced Friday it was licensed by the Colorado Limited Gaming Control Commission. The company plans to take control of the Mardi Gras Casino, Golden Gates Casino and Golden … [Read more...]
October 19, 2012 at 3:26 am
Howard Stutz, LAS VEGAS REVIEW-JOURNAL
Three companies were granted interactive gaming licenses by the Nevada Gaming Commission on Thursday as the lineup for the state's potential online poker market grew more crowded.
Commissioners licensed Boyd Gaming Corp. the Golden Nugget ownership and Fertitta Interactive - which includes the owners of Station Casinos and operators of Ultimate Fighting … [Read more...]
Howard Stutz, LAS VEGAS REVIEW-JOURNAL
The regional casino operator, which owns the M Resort, has been the funding force behind the defeat of Maryland's Question 7, which would allow a Las Vegas-style casino to be built in suburban Prince George's County.
Carlino reiterated on a conference call with analysts that Penn is not opposed to the casino. However, the company believes its Rosecroft … [Read more...]
October 18, 2012 at 5:29 pm
NEW ORLEANS (AP) - Gamblers lost nearly $199.7 million at Louisiana's state licensed casinos in September, up from $188 million for August and $196.6 million for September of last year.
Most of the money was dropped at the state's 13 riverboat casinos. Total revenue climbed to $141.8 million for September, up from $132.7 in August and $134.1 a year earlier, a boost … [Read more...]
October 18, 2012 at 11:05 am
(Updated) Kelvin Chan, Associated Press
HONG KONG (AP) - The Chinese arm of U.S. casino company MGM Resorts International signed a land deal Thursday for a new $2.5 billion casino resort in Macau, the world's biggest gambling market, hoping to catch up with the rapid expansion of rival casino operators.
MGM China Holdings Ltd. said it formally accepted a long-awaited land concession contract … [Read more...]
October 17, 2012 at 6:00 pm
Bruce Schreiner, Associated Press
LEXINGTON, Ky. — Churchill Downs cleared a key hurdle Wednesday in pursuit of September racing that would give the famed track a third live meet next year.
A panel of state racing regulators recommended that the Louisville track, home of the Kentucky Derby, pick up September racing dates that traditionally have gone to Turfway Park in northern Kentucky. … [Read more...]
October 17, 2012 at 2:30 pm
Emery P. Dalesio, Associated Press
RALEIGH, N.C. (AP) - North Carolina's highest court began grappling Wednesday with whether the state can label video sweepstakes parlors as gambling halls and outlaw the businesses multiplying statewide, or whether the video screens give the owners constitutional free-speech rights.
The state Supreme Court heard arguments in two cases in which amusement … [Read more...]
October 17, 2012 at 10:32 am
(Updated) Associated Press
SYRACUSE, N.Y. (AP) - Two brothers from central New York have claimed a winning $5 million lottery scratch-off ticket they bought at their parents' Syracuse store six years ago, state lottery officials said.
Andy Ashkar, 34, of Camillus, and Nayel Ashkar, 36, of Cicero, came forward March 1, just 11 days before the top prize in the "$500,000,000 Extravaganza" … [Read more...]
October 17, 2012 at 2:30 am
BOSTON (AP) - Another step on the long road to casino gambling in Massachusetts is being taken as a 90-day window opens for developers to submit preliminary applications to the state.
The Massachusetts Gaming Commission plans to make applications available on Wednesday to companies interested in bidding for the sole license to operate a slot parlor. Initial applications for … [Read more...]
October 16, 2012 at 8:09 pm
Jonathan J. Cooper, Associated Press
PORTLAND, Ore. (AP) - After betting more than $5 million they could persuade voters to approve Oregon's first privately owned casino, the Canadian developers folded their hand Tuesday, saying they would suspend their campaign because there isn't enough support from voters.
Two Canadian companies have spent millions on television commercials promoting a … [Read more...]
October 16, 2012 at 5:05 pm
Wayne Parry, Associated Press
ATLANTIC CITY, N.J. (AP) - More people who view AC are willing to "Do AC."
The Atlantic City Alliance, the new marketing arm of the casinos, says its multimillion-dollar advertising campaign shows people in New Jersey, New York, Pennsylvania and Baltimore, Md., are improving their perceptions of Atlantic City. A survey found that 39 percent of people who saw the … [Read more...]
October 16, 2012 at 9:54 am
DAVENPORT, Iowa (AP) - Davenport officials say they are negotiating to buy the Rhythm City Casino for $46 million but won't require any taxpayer money to pay for it.
City officials are expected to announce their intentions on Tuesday.
A council vote is expected on Oct. 24 on whether the city should continue negotiating with Isle of Capri, which owns the casino, and begin … [Read more...]
October 16, 2012 at 9:34 am
CHARLESTON, W.Va. (AP) - West Virginia Lottery officials are questioning The Greenbrier resort's practice of giving bus day-tour groups' access to its casino.
Lottery Director John Musgrave tells the Charleston Gazette (http://bit.ly/V48a5c ) that the West Virginia Lottery Commission will need to clarify The Greenbrier casino gambling regulations.
The commission plans to … [Read more...]
October 16, 2012 at 5:02 am
OKLAHOMA CITY (AP) - Oklahoma Lottery officials say the program has reached a milestone by raising more than $500 million for education in the state.
The lottery's executive director, Rollo Redburn, said Monday the lottery has contributed more than $500 million to state education since it was launched in 2005. A transfer of revenue on Oct. 9 pushed contributions over the $500 million … [Read more...]
October 16, 2012 at 4:01 am
CHICAGO (AP) - A member of the 1985 Chicago Bears Super Bowl championship team will serve as chairman of the Illinois Lottery Control Board.
Gov. Pat Quinn named former player Gary Fencik to the five-member lottery board in August.
In a statement Monday, lottery officials said board members elected Fencik to be their chairman.
Fencik was a safety and captain of the … [Read more...]
October 16, 2012 at 1:25 am
Editorial: The Topeka Capital-Journal
The demands of crafting a government budget - at the federal, state or local level - often requires some creative thinking and deft management. But still, the public generally expects government revenue generated for a specific purpose to be spent for that purpose.
In Kansas, that isn't always the way it works with our state government, although it … [Read more...]
October 15, 2012 at 10:04 pm
Wayne Parry, Associated Press
ATLANTIC CITY, N.J. (AP) - New Jersey is charging ahead in its effort to offer legalized sports betting despite the presence of some hefty opposition standing between the state and the goal line.
The state said Monday that it could begin issuing licenses for sports betting on Jan. 9, assuming a federal lawsuit filed by the major professional sports leagues and … [Read more...]
October 15, 2012 at 4:06 pm
(Updated) Patrick Walters, Associated Press
PHILADELPHIA (AP) - Gross revenue from table games rose 15.4 percent last month compared to the same period a year ago, state gambling regulators reported Monday.
The state's 11 casinos generated $59.3 million in gross revenue from table games in September, an increase from $51.4 million during the same period a year ago, according to Pennsylvania … [Read more...]
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