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Spintek Gaming
appoints executive
Las Vegas-based Spintek Gaming Technologies has appointed Robert Guinn to the
position of vice president of research, development and manufacturing.
Guinn comes to Spintek with 10 years of slot accounting system experience with Bally Gaming Systems and Casino Data Systems.
&#
160; Guinn was employed as southern region manager of Bally Systems from 1987 to 1992 and developed system upgrades for casinos in Las Vegas and Atlantic City, N.J.
In 1992, he joined Casino Data Systems as vice p
resident of engineering, supervising the development, installation and system support for 30 major casino properties in five states and international venues.
Spintek Gaming markets proprietary gaming technology offering
a new standard of operational coin control.
PSC eliminates
phone regulations
<
/b>The Nevada Public Service Commission on Monday eliminated regulations on local calls at pay telephones as required by the Federal Communications Commission.
Pay telephone companies, which include local telephone comp
anies and independent firms, now may set their own rates at pay phones, which may be more or less than 25 cents.
"I think it's a terrible regulation," said Fred Schmidt, state consumer advocate for utilities. "I think
consumers will be significantly confused and upset."
The National Association of State Utility Consumer Advocates and others have appealed the FCC decision to federal court in Washington, D.C.
0;
Club Med nominates
marketing executive
PARIS -- Club Mediterranee nominated Yves Martin, a Casino SA
executive, to succeed Henri de Bodinat as a director in charge of marketing and sales as the leisure group overhauls its top management, according to a Bloomberg news report.
The U.S.-born, Harvard-educated Martin will
hold the title of assistant director general, in charge of sales and marketing, if his nomination is approved by shareholders at a meeting April 23.
Martin's nomination at Club Med is part of a plan by Philippe Bourguignon, who was appointed chairman and chief executive officer February, to revive the holiday company whose earnings have suffered amid fierce competit
ion and waning popularity at some vacation villages.
Casmyn confirms
securities compliance
&
#160; Casmyn Corp. confirmed that, as a matter of routine procedure, it files financial statements in full compliance with the British Columbia Securities Commission.
The Vancouver, British Columbia-based min
ing company, which has an office in Reno, became obligated to report to the commission when it merged with Auromar Development, a British Columbia corporation, in August. The company is looking into the requirements of being a nonreporting issuer in Brit
ish Columbia.
Short-term rates
for T-bills rise
WASHINGTON -- Interest rat
es on short-term Treasury securities rose in Monday's auction, with the six-month rate climbing to its highest level in 20 months.
The Treasury Department sold $6.03 billion in three-month bills at an average discount ra
te of 5.15 percent, up from 5.14 percent last week. An additional $6.03 billion was sold in six-month bills at an average rate of 5.42 percent, up from 5.30 percent.
The three-month bill rate was the highest since they s
old for 5.18 percent on March 31. The six-month bill rate was the highest since they averaged 5.43 percent on Aug. 21, 1995.
The new discount rates understate the actual return to investors -- 5.29 percent for three-mont
h bills, with a $10,000 bill selling for $9,869.80, and 5.65 percent for a six-month bill selling for $9,726.00.
In a separate report, the Federal Reserve said Monday that the average yield for one-year Treasury bills, t
he most popular index for making changes in adjustable rate mortgages, was 5.99 percent last week, unchanged from the previous week.
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