Casino Industry Insider news bites - 08-25-2009

Aug 25, 2009 5:01 PM
The Insider by Ray Poirier |

In order to provide more cash to assist in their pending divorce, Steve and Elaine Wynn have sold two million shares of Wynn Resort Ltd. (WYNN) stock, generating proceeds of about $115 million.

Developer Jeffrey Jacobs, principal shareholder in MTR Gaming Group (MNTG) has announced plans for a $500 million hotel/casino complex in downtown Cleveland, should the voters approve casino gambling.

Lakes Entertainment Inc. (LACO) is teaming up with Chisholm Creek Casino Resort LLC in a casino application being considered by the Kansas Lottery Commission.

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Jim Perry, CEO of Isle of Capri Casinos Inc. (ISLE), has been appointed to the additional position of chairman of the board of directors.

Expanded games and hours at Colorado casinos helped them generate a 16 percent increase in revenues for the month of July.

Max Baer Jr. is considering purchasing the closed hotel-casino in Sparks, Nevada, to convert it into a Jethro’s Beverly Hillbillies Hotel and Casino.

Louisiana casinos posted a 13.9 percent increase in revenues during the month of July.

Shares of International Game Technology (IGT) were upgraded to "overweight" from "neutral" by Joe Greff of JP Morgan.

PokerTek Inc. (PTEK) says it has installed two Poker Pro tables at the Red Shores at Summerside Raceway in Nova Scotia.

Question? Comment? E-mail me at: Ray Poirier