Henderson News - Page 16

The casino operator, which owns M Resort, said its net income for the third quarter that ended Sept. 30 was $41.3 million or 40 cents per share.

Penn National shareholders will receive one share of common stock in the real estate investment trust equal to each share of common stock held in the casino operator as of Oct. 16, the record date for the spinoff.

The company, which owns M Resort, announced Thursday the Iowa Racing and Gaming Commission, Louisiana Gaming Control Board, Mississippi Gaming Commission and the Pennsylvania State Racing Commission approved the steps necessary to implement the planned separation.

After gaining experience in other management roles with the company, including as assistant general manager at the Santa Fe Station and Red Rock Resort, Stagg returned to Sunset Station this year.

M Resort still plans to host custom poker events, such as the Hollywood Poker Open that was held at the end of June.

Penn National Gaming's east-west region, which includes M Resort, had the largest decline of any of the company's reporting divisions with revenues down 9.1 percent to $317.1 million.

The concept would separate 19 of the company’s 29 casinos and racetracks, including the M Resort, into a real estate investment trust, often referred to as a REIT.

The event guarantees participants a prize pool of $500,000 — not much when compared with standards set by the World Series of Poker, which is more than halfway through its six-week run at the Rio.

The regional casino giant said its overall revenues for the quarter that ended March 31 were $798.2 million, an increase of 8.4 percent compared with the first quarter of 2012.

The son of casino building pioneer Tony Marnell II, the younger Marnell found success off the baseball diamond in business.

M Resort is now in a much stronger financial position with Penn National Gaming’s backing and Anthony Marnell III's directing the property that he helped create and open.

The keynoters will be Shawn Rorick, New Media Strategist, Emerging Marketer, Inc.; Scott Voeller, Senior VP, Brand Strategy and Advertising, MGM Resorts International; and Staci Columbo-Alonso, VP of Global Marketing/CMO, International Game Technology.

A gambler wishing to remain anonymous hit the statewide Megabucks slot machine jackpot, totaling more than $17.3 million, over the weekend at M Resort.

Wildfire Gaming, a division of Station Casinos LLC, said Wednesday the shuttered Gold Rush in Henderson has been remodeled and will operate as Wildfire Sunset.

"The Eldorado is very important to me because it was my first investment in the gaming business," said Bill Boyd, who in 1962 opened the Eldorado with father Sam and a handful of other investors.

The Gold Rush Casino in Henderson closed Friday and will reopen in three to four months as Wildfire Sunset.

The off-strip M Resort is working to fill its DayDream venue with the same hard-partying youthful demographic the Vegas Strip attracts -- but with a twist. Instead of targeting tourists, M is focusing on locals.

Penn National Gaming Chairman tries to make light of the recent General Services Administration tax-payer funded junket controversy.

The Golden Gate has unveiled the first phase of its renovation just a few days following the name-change announcement from its sister property, the D Las Vegas.

The 10th annual Gaming Technology Summit will be held at the Green Valley Ranch in June and will cover how the casino industry is changing due to mobile, Internet and social media.