Gaming - VEGAS INC

Caesars warns creditor lawsuits imperil going-concern status

Caesars Entertainment Corp., the casino company whose largest unit is in bankruptcy, warned that lawsuits stemming from its restructuring efforts could endanger its ability to ...

17 March 2015

By Laura J. Keller, Bloomberg

Caesars dissolves deals with Kansas City Chiefs, others

An arm of casino giant Caesars Entertainment Corp. can tear up contracts it had with the Kansas City Chiefs, a Springhill Suites in Louisiana and audio company Monster Inc. that says ...

17 March 2015

By Kimberly Pierceall, Associated Press

Wynn Resorts battle to oust Elaine Wynn intensifies

Elaine Wynn speaks during a Las Vegas Metro Chamber of Commerce Business Power Luncheon on Wednesday, May 8, 2013, at the Rio.

Wynn Resorts today shed more light on its board’s decision to remove Elaine Wynn from its ranks, while she continued campaigning to keep her seat. In a proxy statement ...

16 March 2015

By J.D. Morris

Even when dealing free games, the house finds a way to win

A view of the “Sex and the City”-themed slots in Zynga’s Hit it Rich! game.

It sounds paradoxical, but it’s true. Social casino games essentially are free versions of table games and slots that anyone can download on a mobile phone or computer. Typically, users are given free tokens to start, and win or lose tokens as they play. Developers make money when players buy additional tokens. Consider Caesars Interactive’s social poker game as an example: Players receive ...

16 March 2015

By J.D. Morris

Group predicts March Madness wagers will hit $9 billion

Bettors stand in line to make their wagers at the LVH sports book during the second round of the NCAA basketball tournament Thursday, March 20, 2014.

The American Gaming Association is again using a major athletic event to draw attention to sports betting, this time estimating that Americans will wager upwards of $2 billion through more than 70 million brackets on this year’s March Madness college basketball tournament. The Washington, D.C.-based trade group for the casino industry announced its predictions in ...

12 March 2015

By J.D. Morris

Kentucky’s unbeaten season makes Las Vegas squirm

Kentucky's Marcus Lee, left, and Michigan's Jordan Morgan go after a rebound during the first half of an NCAA Midwest Regional final college basketball tournament game Sunday, March 30, 2014, in Indianapolis.

The University of Kentucky’s undefeated regular season has Nick Bogdanovich sweating. If the Wildcats don’t lose this year ...

11 March 2015

BloombergBusiness

Judge insists Sands China hand over documents to former CEO

A Las Vegas Sands subsidiary has been ordered, again, to hand over documents without redactions in an ongoing wrongful termination lawsuit against the company. After an evidentiary hearing that ...

10 March 2015

By Kimberly Pierceall, Associated Press

World’s tallest observation wheel falls short on riders

The 550-foot-tall High Roller observation wheel, the tallest in the world, is shown Wednesday, April 9, 2014. The wheel is the centerpiece of the $550 million Linq project, a retail, dining and entertainment district by Caesars Entertainment Corp.

The world's tallest observation wheel hasn't quite reached the elevated expectations of its owner. Caesars Entertainment officials have said the High Roller was just shy of ...

9 March 2015

By Kimberly Pierceall, Associated Press

Caesars seeks to demolish part of former Harrah’s in Tunica

In this May 12, 2014, photo, a few vehicles are parked in front of Harrah's Tunica casino in Robinsonville, Miss., before its closure in June 2014.

A division of Caesars Entertainment Corp. is asking a federal bankruptcy judge for permission to "dismantle and liquidate" part of its shuttered Harrah's casino complex in Mississippi's Tunica County. A Wednesday court filing said Caesars wants to remove five barges that hold a 136,000-square-foot casino in Buck Lake, an oxbow lake of the Mississippi River about 30 miles south of Memphis, Tennessee. Caesars didn't ...

6 March 2015

By Jeff Amy, Associated Press

Bitcoin bust: Poker site prompts raid, investigation by Nevada gaming authorities

The promoter of an unlicensed online poker site where players gambled in Bitcoin says he was doing nothing wrong. But the Nevada gaming authorities ...

6 March 2015

By J.D. Morris

Elaine Wynn moves to renominate herself to Wynn Resorts board

Elaine Wynn pushed back at a decision to remove her from the board of her ex-husband’s resort company today, filing preliminary ...

5 March 2015

By J.D. Morris

MGM sets March 24 groundbreaking on $800M Massachusetts casino

A rendering shows the $800 million MGM Springfield in Massachusetts.

MGM outlined its construction schedule for an $800 million resort casino in Springfield on Thursday, starting with a March 24 groundbreaking. At a rare Springfield meeting for ...

5 March 2015

By Philip Marcelo, Associated Press

Bankrupt Caesars unit gets court’s approval to use cash, for now

The Forum Shops at Caesars Palace on Friday, May 18, 2012.

A federal judge in Chicago ruled Wednesday that a bankrupt division of Caesars Entertainment Corp. can tap some of the $847 million in cash it has on hand for ...

4 March 2015

Associated Press

New president at Venetian, Palazzo starts this month

John Caparella, who’s been president of the Venetian and Palazzo since 2011, is departing next month. He will be replaced by George Markantonis, who was most recently ...

3 March 2015

By J.D. Morris

Wynn Resorts CEO Steve Wynn earned $25 million in 2014

Steve Wynn answers a question from the audience during his keynote speech at the Global Gaming Expo, G2E, about the Sands Expo on Tuesday, September 30, 2014. .

Steve Wynn may have recently taken a pay cut as CEO of Wynn Resorts Ltd. but no need for sympathy for the casino-hotel mogul. Wynn earned $25.3 million in 2014. That was nearly ...