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Category Archives: IGT
More Trop turmoil; Adelson’s new enforcer; Hart vindicated
That Alex Yemenidjian! He just can’t keep the Tropicana Las Vegas out of the headlines — and not in a good way. It’s kicking The One Group out, taking over Bagatelle Beach Club and converting into a by-invitation-only venue for … Continue reading
Posted in Alex Yemenidjian, Entertainment, IGT, International, MGM Mirage, Regulation, Sheldon Adelson, Technology, The Strip
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Hail, Caesars; Some roads lead to Foxwoods; Bluhm disappoints
It’s not every day that Caesars Entertainment CEO Gary Loveman has a good idea. But when he does, it’s a real brainwave. Such has proven to be the case with Caesars’ purchase of social-gaming Web firm Playtika. The latter has … Continue reading
Posted in Hard Rock International, Harrah's, IGT, Illinois, Internet gambling, Macau, Maryland, Massachusetts, MGM Mirage, Neil Bluhm, Pansy Ho, Penn National, Pennsylvania, Politics, Regulation, Stanley Ho, Station Casinos, Taxes, The Mob, Transportation, Tribal
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The rest of the story: Boyd, IGT & Bally
While in Vegas, Deutsche Bank’s Carlo Santarelli dropped in on Boyd Gaming and … well, the news wasn’t as good there as on the Strip. He predicts a “tempered recovery,” adding that “expectations for an inflection in the LV locals … Continue reading
Posted in Boyd Gaming, Current, IGT, Illinois, Internet gambling, Louisiana, Mississippi, Slot routes, The Strip, Tribal, Wall Street
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The wrath of PokerStars; Hart’s win; NV Internet poker: Too soon to tell?
That “thud” you just heard was the price of an Atlantic City casino hitting its lowest level ever. In litigation filed against Colony Capital, spurned buyer Rational Group said it was to have paid only $15 million for the Atlantic … Continue reading
Ader vs. IGT: Hart wins, Adelson loses
This just in … the long-awaited showdown at the International Game Technology shareholder meeting has taken place and seven of the eight incumbents were re-elected, including two heavyweight allies of beleaguered CEO Patti Hart: former Harrah’s Entertainment CEO Phil Satre … Continue reading
Posted in Current, IGT, Internet gambling, Sheldon Adelson, Technology, Wall Street
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Quote of the Day
“IGT’s valuation is near its all-time low on the basis of net income and cash flow. We believe this reflects the investment community’s lack of faith in the operating strategy and capital allocation decisions of IGT management and the board.” … Continue reading
Posted in Current, IGT, Wall Street
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Case Bets: Super Bowl, WMS, Bally, Wynn, Penn vs. MGM
“The twilight’s last reaming”?!?!? Christina Aguilera said it, I didn’t. Of all the proposition bets being made on Sunday’s “Big Game” (the favored Vegas euphemism), my favorite is how long it will take Alicia Keys to crawl through the National … Continue reading
Posted in Architecture, Bally Technologies, Current, Economy, Entertainment, IGT, International, Macau, Maryland, Massachusetts, MGM Mirage, Penn National, Pennsylvania, Scientific Games, Slot routes, Sports, Steve Wynn, Tourism, Wall Street, WMS Industries
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Merger of the Nerds; Cosmo picketed
With 2013 shaping up as a good year for slot sales, Scientific Games has chosen this moment to pounce upon WMS Industries, one of the oldest, biggest and most-respected firms in the industry. SGMS shares promptly leapfrogged from $8.93 to … Continue reading
Hart’s war; Cramer lurves Adelson; Penn’s good deed
As the clock ticks toward a shareholder fight over International Game Technology, CEO Patti Hart tried to rally her troops with a bit of good news. IGT has inked a pact to sell 1,375 VLTs to Saskatchewan, representing one-third of … Continue reading
Posted in Economy, IGT, Illinois, International, M Resort, Penn National, Sheldon Adelson, Slot routes, Technology, TV, Wall Street
4 Comments
Ader strikes at IGT; Government bailout for Trump rejected
Rumbles of mutiny against International Game Technology CEO Patti Hart have been growing in volume for quite some time. Those growls rose to a shout today with an e-mail blast from The Ader Group, soliciting shareholder proxies for the March … Continue reading
Posted in Current, Donald Trump, Economy, Harrah's, IGT, Illinois, International, Slot routes, Taxes, Technology, Wall Street
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He shoots, he scores!; Zynga zinged; Hill puts leg before wicket
Monday’s interview with Interblock global sales supremo Tom O’Brien (right) yielded some passing observations that are probably too peripheral for my upcoming Casino Life piece … but perfect for S&G. Interblock maintains field offices in Las Vegas (soon to become … Continue reading
Posted in Australia, Boyd Gaming, Current, Election, Genting, IGT, International, Internet gambling, James Packer, Macau, Regulation, Singapore, Technology, TV
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The biggest losers; The Facebook factor
There’s a new power player in gaming and it’s … Brookfield Asset Management? The Canadian lender is already calling the shots (along with Warner Gaming) at the Hard Rock Hotel & Casino, a $1.5 billion quagmire into which Morgans Hotel … Continue reading
Investor Week: The slot makers speak; More Ohio expansion
Themes! Themes! Themes! That was the promise made by WMS Industries, which plans to introduce no fewer than 55 of them between now and year’s end. I’d thought we were past the era in which slot manufacturers indiscriminately licensed every … Continue reading
Posted in Atlantic City, Bally Technologies, Cordish Co., Current, Economy, Election, Entertainment, Harrah's, IGT, Illinois, International, Internet gambling, Macau, Maryland, Ohio, Penn National, Racinos, Regulation, Sheldon Adelson, Shuffle Master, Slot routes, Technology, Wall Street, WMS Industries
1 Comment
Lee, Nazarian go to market; IGT goes Disney
An S&G source says Creative Casinos CEO Dan Lee has arranged mezzanine financing and may soon go to the bond market to raise capital, presumably for Mojito Pointe for potentially for ventures elsewhere. The Lake Charles market draws heavy play … Continue reading
Pennsylvania gives thanks; Aqueduct, superstar
This has been a terrible fortnight for S&G but, hey, we’ve got some good news from Pennsylvania. Last month’s gambling revenues were reported this morning and they’re up 12%, thanks mostly to the growing popularity of table games. (Atlantic City, … Continue reading
Breakthrough in Massachusetts
This just in … the Massachusetts state Senate voted 24-14 to send casino legalization on to a conference committee, where the House’s version — passed with a crushing majority — already reposes. Differences between the two versions, obviously, will have … Continue reading
Posted in Bally Technologies, Current, Economy, Florida, Genting, Harrah's, Horseracing, IGT, Internet gambling, Movies, Penn National, Pennsylvania, Politics, Racinos, Regulation, Sheldon Adelson, Slot routes, Sports, Steve Wynn, Taxes, Tribal, Wall Street, WMS Industries
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As the foreclosure turns …
Although its cash flow improved 47% this year to date, Hooters Casino Hotel continues to dribble red ink — losses incurred, in part, by its ongoing bankruptcy soap opera. And although it has close to $10 million in the till, … Continue reading
Posted in Colony Capital, Goldman Sachs, IGT, The Strip, Wall Street
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The great riverboat robbery; Pusateri’s revenge; Gaming’s top 12
Increased funding for education is always the big selling point whenever gambling laws in Missouri are liberalized. This week, schools are finding out what sort of Indian givers their casino benefactors are. Schools are among the public services that stand … Continue reading
Posted in Ameristar, Bally Technologies, Boyd Gaming, Current, George Maloof, Harrah's, IGT, Isle of Capri, Macau, MGM Mirage, Missouri, Morgans Hotel Group, Penn National, Pinnacle Entertainment, Regulation, Sheldon Adelson, Steve Wynn, Taxes, The Strip, Tourism, Wall Street, Warner Gaming, WMS Industries
3 Comments
Thaw in Massachusetts? Hilton has left the building
After screwing the pooch in the previous legislature, it looks as though Gov. Deval Patrick (D-MA) and state lawmakers are finally on the same page regarding casino expansion in the Bay State. Analyst Joseph Greff rates the solons’ chances of … Continue reading