Blackstone Group executive Jonathan Gray doesn’t consider himself a gambler. But the New York City-based private equity fund is wagering $1.73 billion it can make The Cosmopolitan of Las Vegas a shining jewel on the Strip.
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There is no debate that Station Casinos had a strong finish to 2014, giving analysts hope that recovery in the Las Vegas locals gaming market is underway. Now, the investment community may want a piece of the action.
Legalizing sports betting in the U.S. would be bad news for local street-corner bookies and the Internet’s unregulated off-shore gambling market.
If California’s Internet poker debate was an actual card game, PokerStars just doubled up. But the European online gaming giant is still short-stacked against two of the state’s largest tribal casino operators in the company’s effort to gain a piece of California’s potentially lucrative — albeit nascent — Internet poker market.
Internet gambling supporters rejoiced when the Justice Department changed its opinion on the Federal Wire Act and opened the doors for online wagering expansion across the United States.
By numbers alone, the merger of Golden Gaming and Lakes Entertainment doesn’t equal any one of the combined $18.5 billion in gaming equipment manufacturing buyouts that have happened in the past 18 months.
Over the last 18 months, Scientific Games Corp. spent $7.6 billion to acquire the gaming industry’s No. 2 and No. 3 slot machine manufacturers. That makes Scientific Games Corp. the new International Game Technology — minus the baggage.
Out of the fire and into the furnace? After implementing a partial casino smoking ban in October, Macau is now contemplating a total prohibition on smoking in all areas of the region’s gaming market.
Falling gasoline prices and rising consumer confidence potentially add up to good news for regional casino operators. Whether or not this translates into more dollars in casino drop boxes is still up for debate.
Imagine for a moment that Las Vegas-style sports wagering was legal in other states.
Gaming industry predictions are not exact science.
Bill Boyd said a 1983 decision to take over management of the troubled Stardust at the request of the Gaming Control Board was an easy choice.
The American Gaming Association is expanding both in membership and influence. Last week, the AGA announced it added nine new members, including Seminole Hard Rock Gaming — the group’s first American Indian-owned casino company — and the Las Vegas Convention and Visitors Authority.
Back when Nevada and Atlantic City were the only places in the United States to find casinos, the law firm Lionel Sawyer & Collins ruled the legal roost.
It’s abundantly clear Caesars Growth Partners is key to the planned bankruptcy restructuring of overly-leveraged affiliate Caesars Entertainment Operating Co., which intends to shed almost $10 billion of the parent company’s industry-leading $22.8 billion debt through reorganization.
On paper, it appeared MGM Resorts International lost the construction defect lawsuit over CityCenter’s mistake-riddled Harmon Hotel.
The most recent publicity stunt in the ongoing skirmish between Culinary Local 226 and Station Casinos had a holiday street party feel combined with an arts and crafts project. But when it was over, the union came off looking like an inept comedy team.
In Macau, there are spectacular images of the city’s downtown Peninsula skyline from the Ruins of St. Paul. Above the church site is Mount Fortress, built by Jesuits to protect the Portuguese colony. The crumbled buildings and cannons serve as a metaphor for the current state of the Chinese gaming enclave.
When he appears at the Nevada Gaming Commission Thursday, Sam Nazarian — the visionary behind SLS Las Vegas — should accept the Dec. 3 recommendation by the Gaming Control Board for a one-year limited gaming license.
California’s latest effort to legalize online poker would sideline PokerStars, shut out the racetrack industry, and offer a twist that makes traditional casinos and card rooms part of the game.
The irony was not lost on Gavin Isaacs. On Nov. 21, 2013, Gavin Isaacs watched as SHFL entertainment, where he was CEO for 32 months, was sold to slot machine giant Bally Technologies — his former employer — for $1.3 billion. The next day, Isaacs was out of work.
Caesars Entertainment, the nation’s largest casino operator with almost 40 properties in 14 U.S. states and the Canadian province of Ontario, is under attack as it struggles to restructure its gaming industry-high debt load of $22.8 billion.
Pennsylvania gaming regulators this month drove another nail into the coffin containing Atlantic City’s gaming market. At the same time, they unwittingly damaged their own state’s casino industry.
A congressional hearing on a bill to restore the Interstate Wire Act has lost steam in the current lame-duck session.
California is shaping up as the nation’s Internet poker battleground in 2015. Everyone wants a piece of the Golden State’s potentially lucrative pie.
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