Casinos and Gaming
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*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.
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*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.
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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.
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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.
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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.
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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.
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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.
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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.
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*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.
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*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.
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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.
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DOVER, Del.-- A Democratic state lawmaker is reintroducing legislation to allow more casinos in Delaware. Dennis Williams of Wilmington calls for two new casinos, one in New Castle County and one in Sussex County.
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CONCORD, N.H.-- A special House panel said Thursday it would want a bigger profit for New Hampshire if a casino is approved. The joint panel is considering a Senate bill that legalizes one casino with up to 5,000 video slot machines and 150 table games.
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ALBANY, N.Y.-- New York Gov. Andrew Cuomo wants any future new casinos to provide revenue to several counties surrounding each one, not just the county that's host to the facility. New York traditionally provides a cut of profits only to the county where a casino is located to offset the cost of additional police and fire protection and other services.
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Melco Crown Entertainment earnings missed expectations. David Bain, Sterne Agee, explains why the stock remains his top pick.
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Four years after his death, the pop star's estate has delivered another first: Jackson is now the only person, place or thing to have inspired two Cirque du Soleil shows. The Montreal- based acrobatic-theater company presented a sneak peak of its new Jackson tribute show, "One," at the Mandalay Bay hotel-casino in Las Vegas on Tuesday.
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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.
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HONG KONG, May 7- Hong Kong shares ended at multi-week highs in choppy trade on Tuesday as investors braced for a slew of economic data from China that could offer fresh clues on the recovery in the world's second-largest economy. The Hang Seng Index closed up 0.6 percent at 23,047.1, its highest closing level since March 11.
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HONG KONG, May 7- Hong Kong shares ended at multi-week highs in choppy trade on Tuesday as investors braced for a slew of economic data from China that could offer fresh clues on the recovery in the world's second-largest economy. The Hang Seng Index closed up 0.6 percent at 23,047.1, its highest closing level since March 11.
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HONG KONG, May 7- Hong Kong shares ended at multi-week highs in choppy trade on Tuesday as investors braced for a slew of economic data from China that could offer fresh clues on the recovery in the world's second-largest economy. The Hang Seng Index closed up 0.6 percent at 23,047.1, its highest closing level since March 11.