Gaming

Wynn Resorts official disputes report of money-laundering probe

Wynn Resorts spokesman Michael Weaver disputes a report the company is under investigation for breaking money-laundering laws. Weaver issued a statement Thursday after ...

20 November 2014
Associated Press

MGM, Wynn to take on $1 billion in debt each for projects

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

Two Las Vegas-based casino companies say they each plan to take on at least $1 billion in debt to help pay for new casino-hotel developments in Massachusetts among other things. MGM Resorts and Wynn Resorts both ...

20 November 2014
Associated Press

Regulators OK $5.1 billion merger of gaming technology companies

In this June 6, 2007, file photo, Bally Technologies slot machines are showcased at the Palms hotel-casino in Las Vegas.

Nevada regulators today approved the merger of Scientific Games and Bally Technologies, paving the way for two of the biggest gaming technology companies to become an even larger combined entity. The state Gaming Commission ...

20 November 2014
By J.D. Morris

Casinos push back on Massachusetts gambling limits

In a rarely used tactic meant to address gambling addiction, Massachusetts may require casinos to reward their customers for voluntarily setting limits on how much time and money they spend at slot machines under a proposal being considered by ...

20 November 2014
By Philip Marcelo, Associated Press

Caesars reveals plan after creditor walks away

An exterior view of Caesars Palace.

Overwhelmed with debt and seeking a way out from under it, Caesars Entertainment Corp. floated a plan that would have turned its most debt-heavy division into a ...

19 November 2014
Associated Press

Firm cancels plan to buy closed Revel resort

The Revel resort, right, is shown next to the closed Showboat on Monday, Sept. 1, 2014, in Atlantic City.

A Toronto-based company abandoned its plan to buy the former Revel Casino Hotel in Atlantic City on Wednesday, dealing another blow to a city reeling from ...

19 November 2014
By Wayne Parry, Associated Press

A Quick Stop loses slot machine license over stolen cigarettes

A food mart in Las Vegas, caught selling stolen cigarettes to customers, has agreed to have its state gaming license revoked. The Nevada Gaming Control Board and Quick Stop Food Mart filed ...

18 November 2014
By Cy Ryan

Revenue, profit up for Stratosphere parent company

A view of the main entryway at the Stratosphere on Thursday, April 5, 2012.

The Stratosphere’s parent company, which also owns Arizona Charlie’s and the Aquarius in Laughlin, reported its third-quarter earnings today. As with last quarter, nongaming revenue was key to ...

14 November 2014
By J.D. Morris

Nevada online poker company Ultimate Gaming shutting down

Ultimate Gaming began offering Internet gambling in Nevada in early 2013, but announced in November 2014 it planned to cease operations in Nevada.

Ultimate Gaming, one of Nevada’s three legal online poker providers, announced today that it’s ending operations in the state. The move comes about two months after Ultimate Gaming withdrew from New Jersey. In a news release, the company referenced some of the online poker industry’s overall struggles as ...

14 November 2014
By J.D. Morris

Slot parlors among host of gaming issues legislators will tackle

The Nevada State Legislature building is shown in Carson City, Nev., Thursday, March 31, 2005.

Slot parlors, the role of technology in gambling and illegal sports betting are among the casino-related issues that the Nevada Legislature could take up when it convenes ...

14 November 2014
By J.D. Morris

Caesars layoffs to be ‘spread out evenly’ among properties, won’t exceed 680 workers

An exterior view of Caesars Palace.

Debt-saddled Caesars Entertainment confirmed today that it’s laying off less than 1 percent of its total workforce amid ongoing attempts to improve the company’s financial situation. Caesars employs about ...

13 November 2014
By J.D. Morris

Station reports modest revenue growth for 3rd quarter

The Red Rock Casino Resort is shown in the western Las Vegas Valley.

ocals gaming giant Station Casinos, whose properties include Palace Station, Green Valley Ranch and Red Rock Resort, reported its third quarter earnings today. Station’s adjusted earnings before interest, income taxes, depreciation, amortization and management fees — its cash flow — was ...

12 November 2014
By J.D. Morris

Caesars said to be lining up creditors for January bankruptcy

An exterior view of Caesars Palace.

Caesars Entertainment Corp. reached an agreement with key senior creditors on the outline of a debt restructuring plan that includes a prearranged bankruptcy for ...

11 November 2014
Bloomberg

Caesars CEO encouraged by Las Vegas tourism indicators

Gary Loveman, president, CEO and chairman of Caesars Entertainment, delivers a keynote address during the Global Gaming Expo at the Las Vegas Convention Center on Wednesday, Nov. 17, 2010.

Caesars Entertainment, the debt-saddled operator of many of the Strip’s most iconic resorts, reported its third quarter earnings today. Caesars has begun formal discussions with some creditors as ...

10 November 2014
By J.D. Morris

Medical marijuana a recurring theme at gaming law conference

Medical marijuana and the Nevada casino industry don’t mix, gaming officials said at a conference today, and that’s not likely to change anytime soon.

7 November 2014
By J.D. Morris
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