The Casino Industry Insider - April 1, 2008

Apr 1, 2008 7:00 PM

The Insider by Ray Poirier | THE INSIDER: Steve Wynn, owner of 21.1% of Wynn Resorts Ltd. (WYNN), was paid $11.2 million for his work as company chairman and CEO in 2007.

Shortly after Massachusetts lawmakers defeated casino legislation, Kentucky did the same to the expanded gaming proposal in that commonwealth. Gaming opponents are now saying, "It’s clear that a trend is emerging."

Moody’s Investors Service on Monday revised downward its rating outlook of Pinnacle Entertainment Inc. (PNK) to "stable" from "positive." The rating service said it made the move because of ongoing economic woes and the casino operator’s plans to pursue new developments.

International Game Technology (IGT) will conduct an earnings conference call on Thursday, April 17 at 6 a.m. PDT.

The Rhode Island Senate has approved a proposal to permit that state’s two gaming operations to remain open round-the-clock on weekends and until 3 a.m. on weekdays.