Looking to distribute its game content to new channels and mediums, International Game Technology (IGT) said last week it will pay $90 million to acquire Internet gaming company WagerWorks Inc.
The Internet company recently developed a relationship with World Poker Tour to set that company up with an Internet gaming site in Great Britain. It also provides services to BskyB, the television company owned by Fox’s Rupert Murdock; Virgin Airlines, Rank Organization, Paddy Power and Blue Square.
TJ Matthews, IGT’s CEO, explained that WagerWorks "will help the distribution of IGT game content across new channels and mediums, including the Internet, mobile devices, and interactive television."
IGT said the acquisition expense will dilute its earnings by $0.02 in both fiscal 2005 and 2006.
THE INSIDER: Steve DuCharme, former member and chairman of the Nevada Gaming Control Board, has been appointed to the compliance committee of Isle of Capri Casinos Inc.
Merrill Lynch has placed a sell rating on the shares of MGM MIRAGE Inc. (MGM) saying their analysts could see very little upside potential in the price of the shares.
Dover Downs Gaming & Entertainment Inc. (DDE) has declared its regular quarterly cash dividend of $0.06 per share to be paid on Sept. 10 to shareholders of record on Aug. 10.
Delaware North Companies has named Robert D. Marshall, Jr., a former Atlantic City gaming executive, to the position of president of Wheeling Island Gaming Inc. He replaces Geoff Andres who resigned in May.
Pinnacle Entertainment Inc. (PNK) will provide its quarterly fiscal report on Thursday, Aug. 4, at 8 a.m. PDT, while Magna Entertainment Corp. (MECA) will report on Friday, Aug. 5, at 6 a.m. PDT.
Shuffle Master Inc. (SHFL) says it has executed an arbitration settlement with Technical Casino Supplies, Ltd. whereby it will pay $215,000 to resolve disputed invoices and commissions related to a termination agreement.
Buoyed by the success of an addition to its facility in Atlantic City, Aztar Corp. (AZR) has announced a $40 million entertainment district to be built in Evansville, Ind., where the company operates Casino Aztar riverboat.
Fitzgerald’s Casino owner Don Barden is suing the Chippewa Indians for half of the $79 million the tribe received in settlement of a suit against two Detroit casinos. He claims the tribe promised him half of the settlement but only paid him $1.5 million.
No extra services will be provided to Harrah’s New Orleans casino since the state has allocated only $1 million annually, which the city says leaves $12 million owing.
Analysts at CIBC World Markets have upgraded the shares of Station Casinos Inc. (STN) from sector underperform to sector perform.