Casino Insider

Feb 11, 2013 4:45 PM

Ramesh Srinivasan, the new CEO of Bally Technologies Inc. (BYI), is showing his confidence in the future of the company by spending $1.2 million to acquire company stock. His purchases were made at share prices ranging from $47.48 to $48.72.

Ameristar Casinos Inc. (ASCA) has declared a cash dividend of $0.125 per share to be paid on March 15 to stockholders of record on Feb. 28. The company that is being acquired by Pinnacle Entertainment Inc. (PNK) reported fourth quarter earnings of $1.2 million or $0.04 per share compared to last year’s $7.4 million or $0.22 per share.

WMS Industries Inc. (WMS) reported fourth quarter earnings of $4.3 million or $0.08 per share. A year earlier, the company, now in the process of being acquired by Scientific Games Corp. (SGMS), said earnings were $16.1 million or $0.29 per share.

The recent sell-off involving Macau gambling companies, although brief, was triggered by an announcement by the Chinese government that it planned to investigate the operators of VIP junkets to the Macau casinos.

Horseshoe Casino in Cleveland, Ohio, had revenues of $20.66 million in January, topping the $18.26 million reported by Penn National’s Columbus casinos.

In Cincinnati, high-rollers at the soon-to-open Horseshoe Casino will be given free rooms or discounts at seven hotels in the city, according to a report in the Cincinnati Enquirer newspaper.

SHFL Entertainment Inc. (SHFL) has announced the purchase of Chinese electronic gaming manufacturer ProTec Games.

With the addition of table games in July, the Twin River Casino in Lincoln, Rhode Island, says it will hire 600 more full or part-time employees.

The Massachusetts Council on Compulsive Gambling will host a public forum Thursday, Feb. 14, on Internet gambling.

The Massachusetts Gaming Commission this week will interview Rick Day as a potential executive director. Day currently holds that post in the State of Washington.

Market East Associates, one of six applicants for a casino license in Philadelphia, Pennsylvania, says it will partner with Mohegan Sun should it receive the state’s last casino license.

The Lower Brule Sioux Tribe is pursuing a $34 million casino to be located along Interstate 90 just west of the town of Oacoma, South Dakota.

Officials in New York City say they have no plans, as of now, to seek or develop a casino in their city.

Ray Poirier is the longtime executive editor at GamingToday.

Contact Ray at [email protected].

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