Casino Insider

Apr 30, 2012 7:46 PM

Pinnacle Entertainment Inc. (PNK) has agreed to pay $22.8 million for a 75.7 percent equity stake in Retama Park Racetrack in Texas.

Pinnacle’s L’Auberge Baton Rouge hotel/casino in Lousiana has been holding job fairs to fill more than 1,000 permanent positions at the property.

Also, Pinnacle announced it will hold a conference call for the 2012 first quarter results on Tuesday, May 1, at 7 a.m. PDT.

PokerTek Inc. (PTEK) will announce its first quarter resorts on Tuesday, May 1, at 8 a.m. PDT.

Job fairs are also being held in Maine where the Oxford Casino is looking to hire some 100 people for positions in various departments.

Tilman Fertitta plans to spend $150 million to remodel and expand a casino in Biloxi, Miss., that will be re-named the Golden Nugget.

Directors of Ameristar Casinos Inc. (ASCA) have declared a cash dividend of $0.125 per share to be paid on June 15 to shareholders of record on May 31.

Jim Murren, chairman and CEO, MGM Resorts International (MGM), and Keith Smith, president and CEO, Boyd Gaming Corporation (BYD), have been designated as keynote speakers at the Southern Gaming Summit to be held May 8-10 at the Mississippi Coast Coliseum and Convention Center in Biloxi, Miss.

Mississippi casinos generated $220.4 million in revenue during the month of March. This compared with $212.1 million reported last year.

Ameristar Casinos Inc. (ASCA) reported it has completed the private placement of $240 million in notes carrying interest of 7.5 percent.

In Delaware, the directors of Dover Downs Gaming & Entertainment Inc. (DDE) have declared a cash dividend of $0.03 per share to be paid on June 10 to shareholders of record on May 10.

Monarch Casino, operator of the Atlantis Casino Resort Spa in Reno, Nev., says it has completed the purchase of Riviera Black Hawk from Riviera Holdings Corporation (RIV).

MGM Resorts International (MGM) has appointed William Scott as senior resident executive for Greater China. He also will serve as resident director for MGM China Holdings Limited, owner of MGM Macau.

Penn National Gaming Inc. (PENN) announced it will relocate the Beulah Park horse track from Grove City, Ohio, to Austintown, a suburb of Youngstown. It purchased the 186-acre property for $4.6 million.

The Florida Supreme Court has ruled slot machines can be allowed anywhere in the state.

"Thunder over Louisville," the family event that kicks off the Kentucky Derby festivities that accompany this weekend’s race at Churchill Downs, attracted more than 400,000 spectators.

John Sabini, chairman of the New York State Racing and Wagering Board, has been installed as the new chairman of the Association of Racing Commissioners International.

A "Bad Beat Jackpot" for $617,524 was hit last week at the Borgata in Atlantic City when a poker player with four 10s lost to a player with four Aces. The loser won $227,009 while the winner took home $113,505 plus the pot. The other players at the table each received $32,430.

A federal judge has denied the Catawba Indian Nation the right to build a casino on its York County reservation in South Carolina. The tribe plans to appeal the decision.

The effort by Groupe Bernard Tapie of France to acquire the indicted Full Tilt Poker company has failed. The company said it was not prepared to meet the requirement of federal prosecutors that all Full Tilt players be repaid in full within 90 days of the sale.

The Mashpee Wampanoag Tribe, currently negotiating a gaming compact with Massachusetts Gov. Deval Patrick, has unveiled plans for a $500 million resort casino to be built in the community of Taunton.