The preliminary price for MGM Mirage to buy Mandalay Resort Group has edged up to 8.1 billion USD in the two months since the deal was announced in June, but Wall Street analysts on Friday said the merger still makes sense for investors and the combined company.
Another day, another multibillion-dollar merger... Wall Street's 2004 push toward consolidation reprised itself again early Friday, and once again the latest corporate megadeal had multiple Las Vegas connections. General Growth Properties' 12.6 billion USD bid for The Rouse Co. would give the 50-year-old mall developer control of four of this city's largest and most successful shopping centers, as well as the rights to build two more in ultra-prime Southern Nevada locations.
An Internet company that publishes information about online gambling has asked a federal district court in Louisiana to decide whether advertisements for Internet casinos are protected forms of speech. The lawsuit, filed on Aug. 9 by Casino City Inc., which operates CasinoCity.com, an online casino directory, charges that the Justice Department violated the Constitution by threatening American publishers with criminal penalties if they broadcast, print or display advertisements for gambling Web sites.
The smoking ban - which comes into effect on December 10 - looms as the next cloud on the horizon for casino operator Sky City, which reports its annual result this week. Consensus forecast among analysts is for a 115.1 million NZD net profit, 7 per cent up on the previous year. But this time last year Sky City reported a near doubling of net profit from 57m NZD to 107m NZD.
While Trump endured some typical "you're fired" headlines when he allowed his casino company to fall into bankruptcy early this month, analysts say The Don pulled off a shrewd deal. The buyout is part of a long-term strategy to get out of a sputtering Atlantic City, walking away scot free while bondholders and shareholders take a hit.
Sacramento - Going on the defensive Thursday, Gov. Arnold Schwarzenegger announced he would sign a deal Monday for a controversial Indian gambling mega-casino in the East Bay, but said he was required by federal law to forge the agreement. Administration officials conceded, however, that nothing required the governor to allow up to 5,000 slot machines, making the site in San Pablo, north of Oakland, one of the world's largest casinos.
For at least the second time in his topsy-turvy career, Donald Trump is taunted by whispers that his status as a symbol of the American dream is based on marketing hype as much as business savvy. Last week his Trump Hotels and Casino Resorts Inc agreed to slip into bankruptcy protection - temporarily, he insists, in an attempt to salvage the company.
A lawsuit pitting a Reno casino against a gambling industry powerhouse has been delayed until March. Washoe District Judge Brent Adams continued the civil case filed by the Siena Hotel-Casino against Acres Gaming, which has since been acquired by International Game Technology.
The 15th European Poker Championship in Casino Baden brings top players from around the world together for four thrilling days of competition and celebration.
Two people with Las Vegas connections are poised to become part of a management team that is expected to run one of the world's largest casinos in the densely populated San Francisco Bay Area.
ATLANTIC CITY – As reported by the Press of Atlantic City: "The number of casino bus passengers heading to Atlantic City will likely drop again this year, and the pace of decline could accelerate when a major gaming hall motor coach company leaves the market next
Stanley Leisure appointed a new finance director yesterday after the shock departure of the head of its casino division forced a shake-up of the board
