Tag Archives: casinobiz

The fight over the Wynn casino, explained

Wynn Resorts announced this week that construction of its planned Everett casino and hotel was “effectively on hold,” and that a spring groundbreaking would be delayed. The company blames Somerville Mayor Joe Curtatone for the delay because Curtatone’s administration filed an appeal of an environmental permit for the $1.7 billion resort.

Scientific Games grows quarterly revenue but suffers net loss

Slot machine giant Scientific Games Corp. said Thursday it closed out 2015 with a 10 percent increase in fourth quarter revenue while the company sliced $231 million from the bottom line after completing the $5.1 billion acquisition of rival Bally Technologies. Accounting and financial activities surrounding the Bally merger caused Las Vegas-based Scientific Games to suffer a net loss of $128 million in the quarter that ended Dec. 31, which included noncash impairment charges totaling $130 million.

Scientific Games grows quarterly revenue but suffers net loss

Slot machine giant Scientific Games Corp. said Thursday it closed out 2015 with a 10 percent increase in fourth quarter revenue while the company sliced $231 million from the bottom line after completing the $5.1 billion acquisition of rival Bally Technologies. Accounting and financial activities surrounding the Bally merger caused Las Vegas-based Scientific Games to suffer a net loss of $128 million in the quarter that ended Dec. 31, which included noncash impairment charges totaling $130 million.

Future of Las Vegas' Wynn Golf Club in doubt, according to…Siegfried & Roy?

Are these the end times for golf on a parcel of Las Vegas land on which golf has been played since the Desert Inn Golf Course opened there in 1952 and now is the site of the Wynn Golf Club? They were the source of a Wednesday story by Las Vegas Review-Journal’s renowned gossip columnist Norm Clarke , who reported that Steve Wynn, CEO of Wynn Resorts, has design plans for another hotel, as well as a convention center and a 40-acre lake for the property. “He never stops thinking about something new,” Siegfried Fischbacher told Clarke, meanwhile revealing that Wynn gave the illusionists “a sneak preview of the plans a few days ago.”

Las Vegas Sands Is Still Crazily Mispriced

“They ran their heads very hard against wrong ideas, and persisted in trying to fit the circumstances to the idea instead of trying to extract the idea from the circumstancesa ” Gaming shares have participated in the recent market rally across the board. Its message we believe was that the sector had been long hammered by negative news both here and in Macau and that signs of recovery were too numerous to ignore.

Las Vegas Sands Is Still Crazily Mispriced

“They ran their heads very hard against wrong ideas, and persisted in trying to fit the circumstances to the idea instead of trying to extract the idea from the circumstancesa ” Gaming shares have participated in the recent market rally across the board. Its message we believe was that the sector had been long hammered by negative news both here and in Macau and that signs of recovery were too numerous to ignore.

Space projects lured $1.8 bln in venture capital last year – report

Feb 24 Venture capital groups invested $1.8 billion in commercial space startups in 2015, more than in the last 15 years combined, a report by aerospace consultants the Tauri Group shows. The lion’s share of the 2015 space investments was a $1 billion round of financing for Space Exploration Technologies, or SpaceX, founded and overseen by technology entrepreneur Elon Musk, who also runs Tesla Motors Inc. “The year 2015 was a record-setting year for space ventures, with investment and debt financing of $2.7 billion,” according to the Tauri Group’s “Start-Up Space” report, which was released on Monday.

Wynn official: Everett casino construction is 'effectively on hold'

Wynn Resorts, with plans to build a $1.7 billion resort casino in Everett, announced Wednesday that a planned spring groundbreaking for the project will be delayed, that upcoming job fairs will be canceled, and that a project-related hiring freeze will go into effect. The company said the moves are a result of Somerville Mayor Joseph Curtatone’s appeal of an environmental permit for waterside construction projects.

Wynn official: Everett casino construction is 'effectively on hold'

Wynn Resorts, with plans to build a $1.7 billion resort casino in Everett, announced Wednesday that a planned spring groundbreaking for the project will be delayed, that upcoming job fairs will be canceled, and that a project-related hiring freeze will go into effect. The company said the moves are a result of Somerville Mayor Joseph Curtatone’s appeal of an environmental permit for waterside construction projects.