Three casino industry buyouts were approved Thursday by the Nevada Gaming Commission, including Eldorado Resort’s $72.5 million acquisition of MGM Resorts International’s holdings in Reno.
Casinos & Gaming
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Las Vegas leaders on Wednesday approved half a gaming license sought by tavern operator Dotty’s for a location.
Wynn Resorts Ltd. said Wednesday it will move the opening of its $4.1 billion Wynn Palace development in Macau back by three months.
The Lucky Dragon Hotel & Casino might have to make its own luck. Las Vegas City Council members, sitting as the heads of the city’s redevelopment agency, on Wednesday shot down some $25 million in subsidies sought by developers behind the partially built nine-story, 200-room project at Sahara Avenue and Las Vegas Boulevard.
Treasure Island will turn over the second and third floors of its recently completed 40,000 square-foot retail area along the Strip to an exhibition company that will create attractions based on Marvel Comics’ The Avengers and Hasbro’s Transformers, offering customers interactive, theme parklike experiences.
In a gaming pantheon bejeweled with mega-resorts, the Lucky Dragon Hotel & Casino won’t set records. But it remains an important development for the city of Las Vegas.
Illinois-based investment group Z Capital, the largest shareholder in casino operator Affinity Gaming, has made its fourth offer in the past two years to acquire the Las Vegas-headquartered company in a deal valued at $700 million.
Casino operator Penn National Gaming said it received notice from the Nasdaq that it is not in compliance with listing rules, an announcement the company anticipated.
Scientific Games Corp. Chief Financial Officer Scott Schweinfurth will retire at the end to the year, the slot machine and lottery giant announced Monday.
Stratosphere owner American Casino & Entertainment Properties lost money in the third quarter despite a 6.6 percent increase in revenue across the company’s Southern Nevada casinos.
SLS Las Vegas lost $38.7 million in the third quarter and has lost more than $122.7 million in the first nine months of the year, according to a securities filing Friday.
The Cosmopolitan of Las Vegas on Friday reported its second straight quarterly profit, reversing a net loss from a year ago.
Slot machine giant International Game Technology, which merged with lottery provider GTECH earlier this year, said Thursday the combined company recorded a net profit of $7.1 million in the third quarter.
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The gaming industry’s largest trade group said Wednesday it will spend 2016 determining if “a rational alternative” exists to the nation’s current sports wagering laws, which legally allows the activity to take place in just four states.
