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Updated: 18 min 51 sec ago
The recent acquisition by Italy's GTECH of International Game Technology almost happened more than a decade ago -- with the twist that IGT was interested in buying GTECH. In 2000, a deal fell through between the two companies, according to former IGT Chairman Charles Mathewson; the same thing happened five years later. Las Vegas Review-Journal (7/27)
This week, Dr. Mark Yoseloff, director of the Gaming Innovation Center at UNLV, joins the GGB Podcast to discuss his efforts to promote creativity in the gaming industry.
The Wyandotte Nation is adding several amenities to its casino in Wyandotte, Okla., including a bowling alley, billiards and a deli cafe. "We wanted innovate, not duplicate. So this is our attempt to bring something new to the market," said Gary Johnson, Wyandotte Nation Casino general manager. The $13 million expansion also includes the addition of 300 gaming machines. KSNF-TV/KODE-TV (Joplin, Mo.) (7/24)
Macau casinos allow bettors to place baccarat bets over the phone, and a junket operator estimates that phone bets amount to around 10% of VIP revenue. Also known as telebetting or proxy betting, the practice requires bettors to have a private table in a VIP room. Forbes (7/27)
Evgenios Giannakopoulos, the president of Greece's Gaming Commission, said illegal gaming in the country reached 6 billion euros in 2013. He also estimated that up to 100,000 illegal gaming machines are operating in Greece. While 24 operators offer legal gaming, 438 illegal operations have shut down. Greek Reporter blog (7/25)
Register today for your free Exhibit Hall Pass to G2E 2014 (a $299 value), taking place Sept. 30 - Oct. 2 using this link: www.globalgamingexpo.com/SB to get access to 450+ exhibitors, daily keynotes and the Welcome Reception at G2E.
Francois de La Rochefoucauld, French writer
Mississippi should pay closer attention to the state's casinos, experts say. According to the American Gaming Association, the 30 casinos in Mississippi provide employment to 22,770 full-time employees -- placing it third in gaming employment nationwide -- and contributed almost $258 million in tax revenue to the state. "Mississippi has never truly acknowledged the gaming industry. Leadership has never done anything to hurt it, but they haven't done anything to help it either," said Webster Franklin, president and CEO of the Tunica Convention and Visitors Bureau. American City Business Journals (subscription required) (7/25)
The Illinois Gaming Board approved a $1.75 billion refinancing deal for Caesars Entertainment Corp. despite objections from some bondholders. The Las Vegas-based firm operates two casinos in Illinois. Gary Loveman, chairman and CEO of Caesars, said the refinancing was approved by all jurisdictions and the company can proceed with improving its capital structure. Bloomberg Businessweek (7/24)
The Massachusetts Gaming Commission has instructed the city of Boston to negotiate a surrounding community agreement with Wynn Resorts. The company has proposed a casino in Everett, Mass., but Boston earlier broke off talks with the developer. The state gaming board said it would appoint a negotiator if Boston and Wynn come to an impasse again. Boston Herald (7/25)
Penn National Gaming posted net income of $2.8 million for the second quarter, compared to a loss of $11.3 million in the second quarter of last year. Penn National has five casinos under construction, including a racino in Massachusetts slated to open in 2015. Penn National has also partnered with the Cordish Cos. for a proposed $750 million casino in upstate New York. Las Vegas Review-Journal (7/24)
Pinnacle Entertainment narrowed its loss to $2.3 million in the second quarter, compared to a loss of $5.2 million in the same quarter last year, and grew its net revenue 108%. The company acquired Ameristar last year and implemented $58 million in cost savings from the merger. Las Vegas Review-Journal (7/24)
Las Vegas Review-Journal (7/24)
Reno Gazette-Journal (Nev.) (tiered subscription model) (7/24)
Casino Rama in Canada offers a variety of table games,
including Pai Gow poker, which combines American poker, baccarat, and the Chinese game of Pai Gow. It also recently launched a five-card hand bonus progressive game that enables players to bet electronically using a personal wager module. "In some of these games, you can also bet on the dealer to win, which is new," said gaming operations manager Angus Walker. "And, there are three mystery prizes -- lucky player, lucky dealer and magic card -- that will reward random customers. People are really excited about this." Orillia Packet & Times (Ontario) (7/23)
The Choctaw Casino is embarking on a $275 million expansion in Durant, Okla. James Dry, guest services director for the casino, said the expansion will also create up to 500 new jobs. KXII-TV (Ardmore, Okla.) (7/23)
Two decades ago, poker machines were introduced in South Australia, and proponents say the machines have helped boost the economy. Ian Horne of the Australian Hotels Association said the poker machines help the government "pay for police, hospitals, health and any other public services, so there is a significant positive return to the community." ABC (Australia) (7/24)
Orange Capital, a New York hedge fund that owns a 4.5% stake in Pinnacle Entertainment, again called for the company to spin off its real estate holdings into a real estate investment trust (REIT.) REITs can lower tax liabilities for companies because REITs are not required to pay federal income taxes. Last year, Penn National Gaming created a REIT with 21 of its 29 properties. Las Vegas Review-Journal (7/24)
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