ALBANY, N.Y.-- Closed-door negotiations to expand casinos in New York call for five upstate casinos, including up to three in the Catskills and two video slot machine sites on Long Island, according to the bill released Thursday by Senate Republicans.» Read More
ALBANY, N.Y.-- Closed-door negotiations to expand casinos in New York call for five upstate casinos, including up to three in the Catskills and two video slot machine sites on Long Island, according to the bill released Thursday by Senate Republicans.
A sustained slowdown in China would rattle the sector with double-digit gaming revenue from Macau. Macau, an hour from Hong Kong by high-speed hydrofoil ferry, is a key market for casino operators such as Las Vegas Sands Corp., Wynn Resorts Ltd. and MGM Resorts International, which are investing heavily in new casino resorts.
PHOENIX-- A ruling that allows the Tohono O'odham Nation to build a sprawling, Las Vegas-style casino in suburban Phoenix is improper because it is based on an objective interpretation of Arizona's gambling compact, state officials said in a court filing submitted Wednesday.
NEW YORK, May 22- New Hampshire's House of Representatives rejected a bill on Wednesday that would have authorized the construction of the state's first casino, bucking a regional trend toward easing restrictions on gaming in New England.
ATLANTIC CITY, N.J.-- Atlantic City's casinos saw their gross operating profits plunge by more than 63 percent in the first three months of this year.
NEW ORLEANS-- Louisiana's state-regulated casinos all won less money in April than in March. April winnings totaled $196.4 million, up $4.9 million from April 2012 _ before the L'Auberge of Baton Rouge opened. Harrah's New Orleans took in $25.8 million, 18.3 percent below March and 3.9 percent below April 2012.
The U.S. Interior Department must consider anew whether a federal law on land acquisitions by the Tohono O'odham Nation prohibits adding its planned casino site to the tribe's reservation because the site is surrounded by the city of Glendale, a 9th U.S. Circuit Court of Appeals panel said in a 2-1 ruling Monday.
*Google expects Glass etiquette to evolve. SAN FRANCISCO, May 18- Google staged four discussions expounding on the finer points of its "Glass" wearable computer during this week's developer conference.
*Microsoft set to unveil new Xbox Tuesday. *Xbox key to Microsoft's broader push into consumers' lives. SAN FRANCISCO/ SEATTLE, May 18- Microsoft Corp is set to make a splash this week with the eagerly awaited unveiling of its new Xbox game console, eight years after the last version, as it seeks a larger share of the $65 billion a year global computer gaming industry.
LAS VEGAS-- Nevada regulators have approved Pinnacle Entertainment Inc.' s buyout of rival Ameristar Casinos Inc.. Pinnacle Entertainment Inc. has said the acquisition would save it at least $40 million a year and boost earnings. Ameristar's holdings include casinos in Missouri, Iowa, Colorado, Mississippi, Indiana and Nevada.
BOSTON-- Developers who are unsuccessful in their pursuit of casinos in the eastern or western regions of Massachusetts could compete in the newly opened southeastern region under a plan approved by the state's gaming commission on Thursday.
NEW YORK, May 15- Barry Rosenstein's JANA Partners liked grocery chain Supervalu Inc in a big way in the first quarter, while Philippe Laffont's Coatue Management lost its stomach for the company's shares. Regulatory filings revealed that JANA, a hedge fund with $5.5 billion in assets, picked up some 14 million shares of Supervalu in the quarter ended March 31.
Shares of Zynga Inc. and Groupon Inc. jumped Wednesday after activist shareholder Jana Partners disclosed that it has claimed a stake in both. THE BIG PICTURE: Zynga and Groupon have struggled with changing business models since going public less than 2 years ago, and their stock price has suffered, making the potential for change more appealing to investors.
Jana, which oversees more than $4 billion in U.S. stock holdings, disclosed stakes of 24.6 million Zynga Inc class A shares and 21.9 million Groupon Inc class A shares in regulatory filings on Wednesday. The Groupon stake was worth $134 million as of the end of March, while the Zynga holding was worth $86 million, according to the filings.
BOSTON, May 15- Zynga Inc. shares jumped 7.6 percent to $3.57 in morning trading Wednesday, shortly after hedge fund manager Barry Rosenstein said his Jana Partners had taken a new stake in the online games developer earlier this year.
*Li& Fung lifted by UBS upgrade, chairman's comments. HONG KONG, May 15- Hong Kong and China shares rebounded from a one-week low on Wednesday in weak volume, with investors mainly focused on a handful of stocks on hopes of an earnings turnaround.
*Li& Fung lifted by UBS upgrade, chairman's comments. HONG KONG, May 15- Hong Kong stocks rebounded from a one-week low on Wednesday with a 7 percent surge in shares of top supply chain manager Li& Fung after its chairman said he expected earnings to rise to 2011 levels while UBS upgraded the stock.
LOS ANGELES, May 14- The Las Vegas Sands Corp said a Nevada state court had awarded Hong Kong businessman Richard Suen $70 million after he sued the company claiming it had failed to make good on a promise to pay him for helping it get permission to operate a Macau casino. Sands has said it won the Macau license without Suen's assistance.
Melco Crown Entertainment earnings missed expectations. David Bain, Sterne Agee, explains why the stock remains his top pick.
HONG KONG, May 7- Hong Kong and China shares lingered at multi-week highs in choppy trade on Tuesday as investors brace for a slew of April Chinese data that could offer clues on the recovery in the world's second-largest economy. The Hang Seng Index ended up 0.6 percent at 23,047.1 points, stymied by chart resistance at the March 11 closing high at about 23,090.8.