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Casinos & Gaming

California casino proposals approved

SAN FRANCISCO — The Obama administration has approved casino proposals from two California tribes under a rarely granted exception to the federal law that prohibits gaming on reservations established after 1988.

Laughlin looks to halt decade of tourism declines

LAUGHLIN — For much of the past year, several resort operators have pointed to the mess on Casino Drive as a prime culprit for their anemic finances.

Judge delays unsealing Adelson security lawsuit

A federal judge said he needs more information before deciding whether to unseal documents in a case filed by a security team that protects the family of Las Vegas Sands Corp. Chairman Sheldon Adelson.

Creditor opposes Hooters’ plans to spend more to avoid bankruptcy

Can the Hooters Hotel on Tropicana Avenue be considered a failure? If you ask the resort’s main creditor, the answer is yes. Canpartners Realty Holding Co. IV filed a complaint late Wednesday in U.S. Bankruptcy Court in Las Vegas opposing plans by Hooters casino to spend more money looking for new investors, a sale, or a merger.

Culinary asks FTC to investigate Ultimate Fighting Championship

Culinary Local 226 wants the Federal Trade Commission to investigate Las Vegas-based Ultimate Fighting Championship, claiming the world’s largest promoter of mixed martial arts events is violating U.S. antitrust laws.
Zuffa LLC, which operates the UFC, is majority-owned by Frank Fertitta III and Lorenzo Fertitta, the principals in Fertitta Gaming and operators of Station Casinos. The Culinary is trying to organize many of the company’s 13,000 employees.

Macau gaming revenues hit record $3.1 billion in August

Macau’s booming casino market shows no signs of slowing. The Chinese special administrative region’s 34 casinos shattered single-month gaming revenue figures in August, collecting $3.09 billion from gamblers during the month. The figure was a 57 percent increase over August 2010 and 2 percent higher than July.

Shuffle Master’s profits increase

Shuffle Master grew net income by 56 percent in the third quarter primarily by placing electronic table games in new markets and leasing nontraditional casino table games. Gavin Isaacs, the firm’s chief executive officer, said Wednesday that leasing revenues grew 11 percent in the quarter.

Gaming stocks punished during August

All 10 of the publicly traded casino operators and slot machine manufacturers charted by Applied Analysis saw their average daily stock prices during August decline when compared with July. Eight of the companies experienced double-digit declines, including a 31 percent drop by Boyd Gaming Corp.

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