Henderson News - Page 13

Two casino companies with Nevada ties had improved first-quarter results, including Las Vegas-based Pinnacle Entertainment which reported record net revenue.

The day before he put a gun to his head and killed himself at an M Resort buffet on Easter, a Las Vegas man filled a box with his complaints against the resort and its employees and mailed it to the Las Vegas Review-Journal.

MGM Resorts Chairman Jim Murren discussed the company forming a REIT last month during a quarterly conference call.

Gaming and Leisure Properties Inc. said in a statement the proposed transaction would create the third-largest triple-net REIT by enterprise value.

The gaming industry has embraced REITs, which, by law, don’t pay federal income taxes.

During the Station Casinos’ fourth-quarter earnings conference call a week ago, an analyst asked if the privately held casino company would be publicly traded once again.

The company reported revenue and cash flow figures that were at levels not seen since 2008.

On Sunday a lucky M Resort player hit the jackpot playing the quarter WMS progressive Monopoly Luxury Diamonds, receiving a total payout of $860,863.

The Season 3 Championship Event will be held June 26-28 at Las Vegas M Resort Spa Casino. New additions include a Tour Leaderboard, a Seniors Championship and Seniors Tour Leaderboard.

Penn National said its net loss of $250.4 million for the quarter that ended Dec. 31 was primarily due to a $316.5 million non-cash charge.

Boyd is planning additional restaurant renovation at the Suncoast, Orleans and other locals properties.

The casino operator on Wednesday said its overall revenue for the quarter that ended Sept. 30 was $311 million, a 2.1 percent increase and the company’s largest third-quarter figure since 2008.

The company hosted its annual Smart Start breakfast this month and awarded $50,000 — $5,000 each — to 10 elementary schools designated by the Clark County School District as needing the greatest assistance for students.

The transaction, which needs approval by Nevada gaming regulators, is the second sale of a small casino by MGM Resorts this year.

The growing activity is one reason Station Casinos signed on with the myVegas social gaming site.

Railroad Pass is being acquired by Henderson-based commercial real estate developer Joe DeSimone.

The company said it increased revenue and cash flow in the second quarter despite the struggles of a challenging market.

Orange Capital believes Pinnacle’s share price could increase between 60 percent and 90 percent in value if the Las Vegas-based company were to create a REIT.

This, despite sluggish gaming revenue results from many Southern and Midwestern states in recent months.

The state’s highest court said Tuesday voters can ultimately decide if Massachusetts can have gaming.