Casino News - Page 9

Rhode Island Voters May Pass Gambling ExpansionShould Rhode Island voters have a chance to say yea or nay to full-scale casino gambling at Twin River and Newport Grand? That question will be up for debate Wednesday when the Senate Committee on Constitutional & Regulatory Issues holds a public hearing on a bill to put that question on the ballot during the next statewide general election.

World Series of Slots Crowns First ChampionThe first-ever World Series of Slots™ tournament, held in April at the Golden Nugget Hotel & Casino, welcomed 280 competitors battling head-to-head through eight exciting rounds, and gave away a total of $262,000 in prize money.

MGM Mirage Profits are on the RiseNo one was surprised that MGM Mirage reported a decline in net earnings during the first quarter. That was old news. Wall Street wanted to know Monday if business at MGM Mirage's nine Strip resorts was picking up.

European Poker Tour Crowns Monte Carlo Event ChampionThe PokerStars.com European Poker Tour has a new Grand Final champion. Pieter de Korver, 26, from Leeuwarden, Holland, a member of the new Team PokerStars Pro Netherlands, has won €2.3million at the richest poker tournament ever held outside Las Vegas.

Tropicana Sale Approved by New Jersey PanelNew Jersey's Casino Control Commission yesterday unanimously approved an agreement of sale reached by the trustee for Tropicana Casino Resort and a group of lenders that includes billionaire developer Carl Icahn.

Mohegan Sun Second-quarter Revenues Fall 16%Revenues at Mohegan Sun fell more than 16 percent in January, February and March, but the losses were partially offset by a cost-containment program that reduced the casino's operating expenses by more than 18 percent.

April Produces Stock Increases for Gaming IndustryFor the first time since August, gaming stocks collectively took a positive turn. The 10 casino operators and slot machine manufacturers charted by Las Vegas-based financial consultant Applied Analysis all showed double-digit increases in their average daily stock prices over their March totals.

Philadelphia Poll Shows Favor Toward SlotsIn a new poll of Philadelphians, slightly more than half favored bringing slots gambling to the city, and most liked the idea of a casino on the waterfront but not downtown.

Florida House Responds to Gambling Initiative with Counteroffer counteroffer on casino gambling from the House on Friday has nothing about blackjack and slots for Palm Beach County but a second dog track could be in the cards.

Casino Construction in Atlantic City Effected by Credit CrunchCredit markets are key to funding new casino projects in Atlantic City. With the nation in a credit crunch Atlantic City casino developers are unsure when projects will be complete, if ever.

CityCenter Finally Reaches Funding Agreement with InvestorsMGM Mirage and Dubai World ended a 5-week-old public feud Wednesday by agreeing to a comprehensive plan to fully fund and complete the $8.5 billion CityCenter development.

Florida Lawmakers Likely to Reject Gambling DealThough they're raising fees and taxes to fill a budget hole, state lawmakers appear likely to reject at least $355 million from gambling interests because they're struggling to find common ground.

Caesars Windsor Unveils 50 New Slot MachinesCaesars Windsor displayed 50 new slot machines Wednesday -- including some making a world debut -- by letting customers take them for a spin.

After Long Battle, Bonomo Wins World Series of Poker Circuit EventAfter several circuit losses, Justin Bonomo earned his first career gold ring and $227,692 in prize money.

Steve Wynn Looking to Buy Back BellagioNine years after selling Mirage Resorts to MGM Grand Corp., Steve Wynn may be looking to buy back some of the Strip properties he originally designed and built. Wynn, now chairman of the company that owns Wynn Las Vegas and Encore, told Bloomberg News on Tuesday he would be interested in acquiring casinos owned by debt-strapped MGM Mirage if the Strip casino giant is forced to sell some of its assets to pay down debt.

Swine Flu May Effect Las Vegas TourismMexico appears to be ground zero for the swine flu outbreak, but the biggest fallout for Las Vegas could come from a response that shuts down travel.

Will Ohio Casino Initiative Effect Michigan?Forget the football rivalry. The Buckeye State is suiting up to challenge Michigan in an even bigger game: casino gambling.

Tropicana in Atlantic City May Go On the Auction BlockThe Tropicana Casino & Resort is expected to go on the auction block today. The New Jersey Casino Control Commission will vote on a deal between Tropicana trustee Gary Stein and the casino's senior lenders at a hearing here this morning.

Pinnacle May Close Boomtown in Reno, NevadaPinnacle Entertainment might close its Reno-area casino unless the property starts turning a profit. During the company's first-quarter earnings conference call Friday, Pinnacle Chairman and Chief Executive Officer Dan Lee, in response to a question about a quarterly loss at Boomtown Reno, said he would rather close the property than lose money on an annual basis.

Casino Empires are not Built on CreditPhil Ruffin, owner of Treasure Island and 11 other casinos and hotels, explains how casino empires are built on assets - not credit.

Inspectors Note Unresolved Deficiencies at CityCenter ConstructionIt is five months until the first tower is set to open at CityCenter, one of the largest private construction projects in U.S. history, but general contractor Perini Building Co. has not yet resolved numerous construction deficiencies cited by inspectors.

'Hollywood Dave' Takes Home World Series of Poker Circuit TitleFantasy became reality today as "Hollywood Dave" became the King of Vegas, at least until the next tournament is dealt. "Hollywood" is actually 35-year-old Dave Stann, the winner of the most recent World Series of Poker Circuit tournament held at Ceasars Palace Las Vegas. Stann, who is originally from Cleveland, topped one of the largest fields at this year's Caesars series.

Sullivan County in New York Approves Casino ProjectThe Sullivan County Legislature today approved an agreement with the Seneca Nation of Indians, a federally recognized sovereign Indian Nation, the Seneca Catskills Gaming Corporation, a wholly-owned corporate entity of the Nation, and Sullivan County to develop a Class III Gaming casino on 63 acres of land at exit 107 off of Route 17 (Interstate 86) in the Town of Thompson.

Officials Shut Down 560 Rooms at Las Vegas TropicanaOfficials at the Tropicana have closed 560 rooms that apparently have renovations that don't comply with building codes. On Thursday hotel managers decided to close the rooms in the Paradise Tower to deal with a discovery that plumbing renovations to the rooms are out of compliance, general manager Ron Thacker said.

Penn National Profits Above Wall Street's ExpectationsRegional casino operator Penn National Gaming posted a first-quarter profit that exceeded Wall Street's expectations, but the company's infatuation with Las Vegas was still foremost with analysts.