Fox Business is reporting that ESPN has signed a new seven-year broadcast contract with the World Series of Poker. The agreement will go into effect after the expiration of their current deal, which concludes with the 2010 WSOP and will keep new…
Though most gambling-related financial reports coming out of Las Vegas have been grim this year, on Thursday the Las Vegas Sands Corporation (LVS) delivered some much-needed good news. The casino operator’s lenders accepted a plan that will allow the company to pay down a significant portion of its $3.3 billion in loans
Wednesday, August 12, 2009
Billionaire Andy Beal may have sworn off poker after taking a multi-million dollar beating from The Corporation in 2006, but his recent $100 million bid for three bankrupt Trump Entertainment casinos suggests that the eccentric banker still enjoys big gambles. This is the second time that Beal has backed a big Donald Trump investment scheme; Trump Entertainment already owes his bank $500 million.
Filed in Blackjack, Gambling News, Poker
|
Also tagged 100-million, already-owes, atlantic-city, celebrities, dollar-beating, donald-trump, eccentric, Gambling News, three-bankrupt, trump, trump-entertainment
|
Wednesday, August 12, 2009
Billionaire Andy Beal may have sworn off poker after taking a multi-million dollar beating from The Corporation in 2006, but his recent $100 million bid for three bankrupt Trump Entertainment casinos suggests that the eccentric banker still enjoys big gambles.
In addition to such Las Vegas landmarks as Bally’s, Caesars Palace and the Rio, Harrah’s Entertainment has expanded their casino empire across the American Midwest.
Station Casinos, Inc., of Las Vegas, Nevada, filed for Chapter 11 bankruptcy protection this week. The casino chain, which catered primarily to Las Vegas residents as opposed to the tourist-oriented resorts along the famous Las Vegas Strip, could not reach an agreement with lenders needed to pay down its debts. With the decline in gambling income from its eighteen casinos, the company built up a debt of over US$5.7 billion, of which bondholders hold US$2.3 billion, according to Chief Accounting Officer Tom Friel
Filed in Gambling News
|
Also tagged bankruptcy, decline, famous, gambling, gambling news, Gambling News, gambling-income, lenders-needed, slots, the-decline, the-famous, tourist, week
|
MGM Mirage (MGM) revealed plans to sell $2.5 billion in stock and promissory notes with a portion of the revenues being employed to repurchase almost $1 billion in loans maturing in the next six months. The sales could ultimately extract the debt-ridden gaming operator from its severe debt while at the same time taking away the motivation for involuntary asset sales and distressed debt exchanges. read more
Filed in Gambling News
|
Also tagged asset-sales, being-employed, entertainment, gambling news, Gambling News, gaming-operator, loans-maturing, mgm, motivation, revealed-plans, revenues, severe-debt, the-debt-ridden, time-taking
|
MGM Mirage (MGM) revealed plans to sell $2.5 billion in stock and promissory notes with a portion of the revenues being employed to repurchase almost $1 billion in loans maturing in the next six months. The sales could ultimately extract the debt-ridden gaming operator from its severe debt while at the same time taking away the motivation for involuntary asset sales and distressed debt exchanges. read more
Filed in Gambling News
|
Also tagged entertainment, gambling news, Gambling News, gaming-operator, loans-maturing, mgm, motivation, revealed-plans, revenues, severe-debt, the-debt-ridden, the-revenues
|
MGM Mirage (MGM) revealed plans to sell $2.5 billion in stock and promissory notes with a portion of the revenues being employed to repurchase almost $1 billion in loans maturing in the next six months. The sales could ultimately extract the debt-ridden gaming operator from its severe debt while at the same time taking away the motivation for involuntary asset sales and distressed debt exchanges. read more
Filed in Gambling News
|
Also tagged asset-sales, being-employed, debt, entertainment, gaming-operator, loans-maturing, mgm, motivation, revealed-plans, revenues, severe-debt, the-debt-ridden, the-revenues, time-taking
|
Ameristar Casinos Inc. (NASDAQ: ASCA) announced Wednesday that it would restore quarterly dividend payments to its stockholders after the gaming company reported a profit for 1Q09 that exceeded the financial community’s expectations
