At some point, the estate of Kirk Kerkorian will no longer have ownership in MGM Resorts International. But disposing of more than 91.2 million shares in the casino giant won’t happen overnight.
Subscribe to Inside Gaming RSS feed
Tables resembling giant smart phones have grown so popular inside The Mirage, Bellagio and MGM Grand that content providers are clamoring to put their free-to-play gambling products on the devices.
At some point — if we’re reading the signs correctly — regional casino operator Pinnacle Entertainment will marry itself to real estate investment trust Gaming and Leisure Properties Inc. Wall Street hopes this isn’t a shotgun wedding.
The building currently housing the UNLV Harrah College of Hotel Administration is outdated. But because of Gov. Brian Sandoval’s signature, Hospitality Hall will soon rise at the center of the UNLV campus.
Kirk Kerkorian, who died Monday at 98, was never comfortable in the spotlight. Despite his status as one of America’s most successful billionaires, Kerkorian was reserved, unpretentious and media-shy.
Australia-based Aristocrat Leisure Ltd. wasn’t left behind by the tsunami that engulfed the slot machine industry over the past 20 months — you just might not have noticed.
CNBC host and financial gossip monger Jim Cramer set the gaming investment community abuzz last week. Cramer told his “Mad Money” audience there was “speculation” that Wynn Resorts Ltd. “might merge” with MGM Resorts International. But the notion of a MGM-Wynn merger is ludicrous.
On Monday, American stock speculators will be able to buy shares of Internet gaming giant Amaya Inc. on the Nasdaq. Meanwhile, American online poker players still can’t place wagers through the company’s most popular product.
In 2010 Wynn considered moving his corporate headquarters from Las Vegas to the Chinese Special Administrative Region before abandoning the idea. Today, Macau is in a free-fall and it’s taking Wynn Resorts along for the ride.
It’s clear the millennial generation aren’t fond of slot machines. They prefer Angry Birds over Blazing 7s. New gaming regulations headed for Nevada that will soon let gamblers do both.
Peter Erickson worries a suggested move by the Internal Revenue Service to lower the reporting level for gambling winnings will change his casino habits.
On game days for the Real Madrid soccer team, the area surrounding Estadio Santiago Bernabéu is an outdoor festival. Located near the city’s financial district, fans of the club gather with intense passion.
During the past decade, Penn National Gaming was named as a potential buyer of nearly every Strip resort that was for sale or rumored to be on the market.
Spain houses more than 200,000 slot machines countrywide. The payouts are not life changing for the customers and the gaming revenue doesn’t move the needle for operators.
Portugal and Macau are forever connected despite a separation of more than 6,800 miles. Much of the relationship hinged on controversial Hong Kong billionaire Stanley Ho. Thanks to Portugal, Ho owned a monopoly on Macau’s casino market for nearly 40 years.
While the recession knocked the California Indian casino market down a few notches — as it also did in Nevada — signs are afoot the Golden State’s tribal gaming industry is once again firing up.
MGM Resorts International had a busy March. On March 24, MGM officials broke ground on the company’s $800 million hotel-casino development in Springfield, Mass. A day later, MGM leadership celebrated the hiring of the 1,000th construction worker for the $1.25 billion MGM National Harbor in Maryland.
A debate over religious freedom and gay rights was not what Indiana’s challenged gaming industry needed. The state’s 13 casinos experienced a 10 percent decline in gaming revenue in 2014 partly because of new competition.
On his first quarterly earnings conference call as CEO of Full House Resorts, Dan Lee compared himself to the boy who came downstairs one Christmas morning hoping to find a pony.
A policy address by Macau’s top government official this week wasn’t the uplifting and positive message the casino industry and the investment community were hoping to hear.
A year ago, the gaming investment community didn’t pay much attention to Global Cash Access. Then, Global Cash Access stole the best little slot machine manufacturer in Texas.
Caesars Entertainment Corp. can’t seem to catch a break. Next month, New Orleans will ban smoking in most public venues within Orleans Parish, including bars, hotels, sports stadiums and restaurants (where the activity has been curtailed since 2007).
If we didn’t know better, one might believe the Chinese government is trying to sabotage Macau’s already sinking gaming market. Nine straight months of casino revenue declines, including a record 49 percent drop in February, are attributable to a government imposed crackdown on corruption. Apparently, more government restrictions are on the way.
The brewing proxy fight at Wynn Resorts Ltd. might be more entertaining than “Steve Wynn’s ShowStoppers,” the production of Broadway and movie songs now playing in the Encore Theater.
By next year, at least three casino companies will have traveled the path into the real estate investment trust market. A fourth is exploring the idea, and MGM Resorts International may join them on the trail.
- Page 1