Ted Arneault, former CEO of MTR Gaming Group of West Virginia and the man responsible for the purchase and subsequent sale of Binion’s Gaming Hall in downtown Las Vegas, is fighting to keep his gaming license in Pennsylvania.
It was while Arneault was head of MTR Gaming that the company built Presque Isle Downs & Casino near Erie, Pennsylvania. He later left the company.
Reportedly, Pennsylvania gaming board investigators are opposing Arneault’s application to renew his license based on "inaccuracies or inconsistencies" in statements he made during his interrogation.
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Atlantic City’s casino industry saw its operating profits rise in the third quarter of this year, helped by Internet gambling money and the absence of large losses racked up last year by weaker casinos.
Caesars Entertainment Corp. (CZR) has reached an agreement with its most-senior lenders on a restructuring plan that includes turning its largest unit into a real estate firm, according to a report this morning from Bloomberg.
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New Jersey Gov. Chris Christie’s hope that a private operator would boost the state’s lottery proceeds seems to be dwindling as revenue declined 9.2% during the period between July 1 and Oct. 31.