Administration and Finance News

Cosmopolitan of Las Vegas sold to Blackstone Group for $1.73 billion
16 May 2014

The deal is subject to approval of Nevada gaming regulators.

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Inside Gaming: Weight of debt will not go away
13 May 2014

Last Tuesday, Caesars announced a five-step plan for eliminating the company’s 2015 financial obligations and reduce the upcoming debts due in 2016 and 2017.

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Caesars sees quarterly net loss increase 78 percent
9 May 2014

Caesars Entertainment Corp. grew its net loss nearly 78 percent in the first quarter of 2014.

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Kobetron, GLI announce strategic global support relationship
7 May 2014

Kobetron, LLC (“Kobetron”) has entered into a strategic global support relationship with Gaming Laboratories International, LLC (“GLI”) to deliver enhanced customer support capabilities to the gaming industry’s regulators, operators and suppliers.

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Downtown Las Vegas events help drive Boyd Gaming properties to best quarter since 2009
2 May 2014

The Las Vegas-based company said Wednesday it had its best first quarter in five years from Main Street Station, Fremont and California Club, all of which benefited from a cavalcade of market-changing events downtown.

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Q&A with Paul Chakmak, executive vice president and chief operating officer at Boyd Gaming Corp.
29 Apr 2014

Chakmak's pre-Boyd banking experience — which focused on debt and leverage financing — comes in handy for discussions at board meetings.

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JCM Global wins 100 percent of Cromwell Las Vegas business
29 Apr 2014

The Cromwell Las Vegas is the Strip’s newest, dazzling property, and JCM Global has won 100 percent of the casino’s business. The Strip’s first luxury standalone boutique hotel is now open and protected by JCM’s award-winning iVIZION and UBA bill validators.

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What is Strip land worth? Echelon deal offers ideas
28 Apr 2014

The sale by Boyd Gaming Corp. of the 87-acre Echelon site to the Genting Group for $350 million gave analysts an idea of what property on the Strip might be worth in today’s market.

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Penn National Gaming again views expansion on Strip
25 Apr 2014

Penn National Gaming, which owns M Resort, is again looking at the Strip for possible expansion opportunities.

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N.Y. investment fund proposes REIT for Pinnacle casino holdings
22 Apr 2014

Orange Capital said it believes Pinnacle could be more valuable to shareholders by splitting the company into a trust.

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IGT announces first multistate progressive jackpot network
14 Apr 2014

The initial networks involve casinos operated Caesars Entertainment Corp. and Boyd Gaming Corp.

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Regional gaming operators hope end of winter will nurture warmer financial figures
14 Apr 2014

Weather issues kept casino patrons at home in several states where companies such as Penn National Gaming, Isle of Capri Casinos, Pinnacle Entertainment and Boyd Gaming Corp. derive the bulk of their quarterly revenue.

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Macau casinos again top $4 billion in monthly gaming revenues
4 Apr 2014

Macau’s gaming market grew revenue 13.1 percent during March with $4.4 billion collected in gaming revenue, according to figures released Tuesday by the Gaming Inspection and Coordination Bureau.

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As megaresort trend fades, companies focus on luxury in 'small' settings
2 Apr 2014

By the end of the year, Las Vegas will have about a half-dozen hotel-casinos that operators classify as “boutique,” “luxury” or “lifestyle” in their marketing efforts.

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Sands board member becomes online gaming company stakeholder
28 Mar 2014

A member of the Sands board of directors, Jason Ader, has become the second-largest shareholder in European gaming giant Bwin.party, a position seemingly at odds with Adelson's anti-online gaming stance.

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