Casino Gaming Stock : The Most Volatile Industry

Pinnacle Entertainment is abandoning plans to develop in Atlantic City “due to the continuing economic downturn of the gaming market in Atlantic City as the result of other competing markets, primarily Pennsylvania, as well as the continued deterioration in commercial real estate values in the area.”

In an effort to calm community concerns over the location of the approved Columbus casino, Penn National Gaming has taken the next step in securing an alternate location, if approved by voters in May.

The Las Vegas Natural History Museum was able to open a new permanent exhibit last week due to a $3 million donation made by MGM Mirage.

The Board of Directors for Las Vegas Sands Corp has approved a quarterly dividend payment to select stockholders on record as of the close of business on February 5, 2010.

As Pinnacle Entertainment readies for the opening of River City, its second St. Louis casino and sister property to Lumiere Place, the company appoints two new executives.

Penn National Gaming posted lower than expected fourth quarter financials and suggested analysts 2010 forecasts are over inflated, as consumers continue to spend less in the casinos.

According to a recent report on Reuters, MGM Mirage is looking to amend a $5.5 billion credit facility.

Las Vegas Sands (LVS: 15.54 0.00%) executives were met with some resistance during their scheduled hearing with the Pennsylvania Gaming Control Board yesterday, to discuss the renewal of the Sands Casino Resort Bethlehem’s gaming license.
Mayor John Callahan has asked the Board to tie the license renewal to a construction timeline on the casino’s stalled hotel, [...]

Penn National Gaming has seen the highest increase in slot machine revenue among nine Pennsylvania casinos for the month of January.

Isle of Capri Casinos cancels contract with Greektown, almost one month after announcing a management deal to provide marketing and operational services to the bankrupt casino.

Like many other casino operators, Ameristar Casinos has had to cut operating cost in an effort to stay afloat as gamblers continue to spend less.

Kansas Entertainment LLC, a partnership between Penn National Gaming, Inc., and Kansas Speedway object to a proposal to change the rules governing gambling in the state.

As Penn National Gaming prepares for the introduction of table games and the re-branding of the Charles Town Races & Slots West Virginia property to Hollywood Casino, the company has made changes to property management teams.

Recent news of the continued growth of gambling revenues in Macau, sent shares of Las Vegas Sands Corp climbing Monday.

Pinnacle Entertainment has reportedly offered residents along a half mile stretch of Weber Road and Carondelet Blvd $500 to change their addresses.

MGM Mirage will be able to recoup some of its losses after the cancellation of several of the 2010 lineups.

International Game Technology has announced this week that they will close their Reno based cabinet shop within the next 60 days.

Earlier this week Penn National Gaming blasted New York’s Governor David Paterson for delaying the selection process and changing criteria midstream on choosing the casino operator for the Aqueduct Race Track.

Isle of Capri Casinos Inc. has expanded the size of its Board of Directors and elected Gregory J. Kozicz to fill the vacancy, effective immediately.

Las Vegas Sands plans to avoid paying commission fees to junket operators in the Chinese city of Macau, by focusing on local gamblers instead of high rollers, when they open Marina Bay Sands in Singapore later this year.