16, Mar, 2015

A U.S. bankruptcy judge ordered an independent examiner to investigate transactions by the operating unit of Caesars Entertainment Corp, which it is alleged is unable to pay its debts.
Judge Benjamin Goldgar told the examiner, to be appointed by the U.S. Trustee, to investigate "any apparent self-dealing or conflicts of interest involving the debtors or their affiliates," Reuters reported.
Creditors allege that the casino operator, which filed for Chapter 11 bankruptcy this year, illegally moved assets to avoid them being claimed by creditors and looted its operating unit

13, Mar, 2015

Scientific Games CEO Gavin Isaacs says it’s still too early in the integration process to venture financial projections for the $5.1 billion mega-marriage that united Bally Technologies to the company, but he assured investors this week that plenty of offspring are on the way and they will be dazzling.

11, Mar, 2015

A month ahead of completing its acquisition of International Game Technology, Rome-based lottery and gaming equipment and services giant GTECH reported a 4 percent increase in EBITDA for 2014 to €1.08 billion (US$1.16 billion) on revenue that was up €100 million year on year to €3.07 billion.
CEO Marco Sala attributed the results in part to a “robust” fourth quarter marked by “strong product sales in the Americas and internationally, and steady services revenue overall.”

10, Mar, 2015

Gambling mogul Paul Phua remains the last defendant in a case in which he is accused of running an illegal World Cup betting operation in Las Vegas, after his son entered a guilty plea to a lesser misdemeanor charge.
Malaysian national Darren Phua, 23, who decided to enter the plea because he said he was feeling homesick, has handed five-years of unsupervised probation by a US court and leaves his father, an alleged member of the Hong Kong 14K triad, to face the charges alone.

09, Mar, 2015

The US casino industry and its national lobbying arm are joining forces to head off a change in the tax code that could lower the reporting requirements for players who win at slot machines, keno and bingo.
The proposal, released by the Internal Revenue Service, would reduce the reporting threshold from $1,200, where it has stood for almost 40 years, to $600, a change the casinos and the Washington, D.C.-based American Gaming Association say is not needed and will add to the bureaucratic burdens of an industry they say is already over-regulated.

06, Mar, 2015

The AGEM Index of shares in gaming suppliers rose 5.9 percent to 192.71 in February from January, marking the highest month-to-month gain since June to July 2013.
However, year-over-year the index was still lower, down 0.2 percent from February 2014.
In February 2015, 11 of the 14 global gaming suppliers reported month-to-month gains in stock price. Of the companies reporting gains, all but one were up by more than five percent, with Intralot S.A.and Scientific Games Corporation reporting the greatest gains of 36.6 percent and 14.4 percent, respectively.

06, Mar, 2015

Las Vegas Sands has won an intellectual property case against more than 50 mainly Asian websites for unauthorized use of its registered brands and trademarks.
LVS, headed by billionaire Sheldon Adelson, filed charges in a US District Court against 54 website owners and the Philippines-based First Cagayan Leisure & Resort Corporation licensing and registration jurisdiction, for infringing on the company’s brand.

05, Mar, 2015

The sister of former Atlantic City casino mogul Donald Trump will be one of the three federal judges who will hear arguments to legalize sports betting at casinos and racetracks in New Jersey.
Maryanne Trump Barry, whose brother Donald at one time owned three casinos in Atlantic City and was a staunch advocate of legalized sports betting in New Jersey in the early 1990s, did not pose a conflict of interest, said State Senator Raymond Lesniak, who has led New Jersey's fight for sports wagering.

04, Mar, 2015

The International Association of Gaming Regulators announced that its 2015 annual conference will take place in Lima, Peru, in October.
The conference will run from October 13 to 15 and will explore issues affecting gaming regulators, policymakers and industry executives in gambling markets around the world, the organization said in a media release.

04, Mar, 2015

Wynn Resorts Ltd. plans to oust director Elaine Wynn, ex-wife of CEO Steve Wynn, due to her filing a lawsuit against him in 2012.
In a proxy filing, Wynn Resorts said it will reduce its Class I board members from three to two and in doing so will not re-nominate Ms. Wynn to serve as a director.

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