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Oct 31, 2012

MGM expects online gaming license, state compacts

LOS ANGELES (Reuters) – MGM Resorts International Ltd’s CEO expects his company to obtain an online gaming license from Nevada regulators this week, and said states are talking with each other to forge alliances to create a viable interactive gambling market.

Obtaining the Nevada license would move MGM one step closer to entering the online field, which is expected to reach $10 billion a year nationwide by 2017. The sector is seen attracting younger players and offering a new avenue for growth to traditional casino operators whose growth has been stagnating.

Oct 31, 2012

MGM Resorts results miss estimates on weak U.S. demand

Oct 31 (Reuters) – Casino operator MGM Resorts International
posted a larger loss, missing analysts’ expectations,
due to a steep drop in tax benefits, soft demand in Las Vegas
and disappointing margins in Macau.

Shares of the operator of the Mirage and Bellagio casino
resorts MGM Resorts fell 4.1 percent to $10.16 on the New York
Stock Exchange.

Oct 16, 2012

Cynthia Nixon turns villain in Follett’s “World Without End”

LOS ANGELES, Oct 16 (Reuters) – Former “Sex and the City”
star Cynthia Nixon returns to the small screen on Wednesday as
the murderous, scheming Petranilla in the miniseries of Ken
Follett’s best-selling medieval novel, “World Without End.”

The 2007 book is a sequel to 1989’s “The Pillars of the
Earth,” and is set in an English village in the year 1327
against the backdrop of the Black Death. The eight-part TV
miniseries starts on Wednesday on Reelz Channel.

Oct 4, 2012

Gambling chiefs race for share of U.S. online gaming

LAS VEGAS (Reuters) – Major U.S. casino operators are racing to embrace internet gaming, even in the absence of federal standards, as they gear up to attract younger consumers in a market expected to reach $10 billion a year by 2017.

Some bricks and mortar casinos are teaming with online game developers, and casino executives say they are rushing to put in place safeguards on their own services that would combat fraud, money laundering, underage and compulsive gambling, and players falsifying their location.

Oct 2, 2012

Judge won’t block redemption of Okada’s Wynn stake

LAS VEGAS, Oct 2 (Reuters) – A Nevada judge on Tuesday ruled
against Japanese billionaire Kazuo Okada’s effort to reverse a
forced redemption of his 20 percent stake in Wynn Resorts Ltd
, rendering him unable to vote at the casino company’s
Nov 2 annual meeting.

The high-stakes legal battle pits Okada – formerly Wynn’s
largest shareholder through his Universal Entertainment Corp’s
Okada’s Universal Entertainment Corp Aruze USA
subsidiary – against Wynn CEO Steve Wynn. Each billionaire
accuses the other of making improper payments in their
respective Asian markets.

Oct 1, 2012

Okada heads to court to regain Wynn shares for board fight

LOS ANGELES (Reuters) – Lawyers for dissident Wynn Resorts (WYNN.O: Quote, Profile, Research, Stock Buzz) shareholder Kazuo Okada’s will urge a Nevada court on Tuesday to overturn the casino company’s forced redemption of the Japanese billionaire’s $2.7 billion stake, a ruling which would allow him to vote at its November 2 shareholder meeting to unseat two board members.

Okada said on September 17 that he would nominate Yale law professor Jonathan Macey and former CBS Corp (CBS.N) Chief Financial Officer Fredric Reynolds for the company’s 12-person board. Okada, who remains a board member, held a 20 stake in Wynn when the board voted in February to rescind the shares.

Sep 13, 2012

Google blocks YouTube clip only in Egypt and Libya

SAN FRANCISCO/LOS ANGELES (Reuters) – YouTube, the video website owned by Google Inc, will not remove a film clip mocking the Islamic Prophet Mohammad that has been blamed for anti-U.S. protests in Egypt and Libya, but it has blocked access to it in those countries.

The clip, based on a longer film, depicts the prophet as a fraud and philanderer and has been blamed for sparking violence at U.S. embassies in Cairo and Benghazi. U.S. Ambassador to Libya Christopher Stevens and three other American diplomats were killed by gunmen in an attack on the U.S. Consulate in Benghazi on Tuesday.

Sep 12, 2012

To protect shows, Disney, Cartoon, Nick patrol kids’ Web pages

LOS ANGELES, Sept 12 (Reuters) – Young actors in Hollywood
have a new hurdle to overcome in their budding careers: Roving
studio executives who patrol Twitter, Facebook Inc and
other social media sites with the threat of legal action if the
young thespians disclose too much.

Talent managers and casting agents say Disney Channel
, Nickelodeon and Cartoon Network often monitor posts by
cast members on these sites for messages that might harm their
shows’ prospects with fickle youthful viewers.

Aug 3, 2012

Democratic group retracts prostitution claim against Sands CEO

By Ronald Grover and Sue Zeidler

(Reuters) – The Democratic Congressional Campaign Committee retracted statements it made linking Las Vegas Sands Chief Executive Sheldon Adelson with funds it said came from “Chinese prostitution money” and that it said had been contributed to Republican congressional candidates.

“In press statements issued on June 29 and July 2, 2012, the DCCC made unsubstantiated allegations that attacked Sheldon Adelson, a supporter of the opposing party,” the Democratic committee said in a statement. “This was wrong. The statements were untrue and unfair, and we retract them.”

Aug 1, 2012

Sands probed by Macau government over document transfer to U.S.

HONG KONG/LOS ANGELES (Reuters) – The Macau government has launched an official investigation into Sands China, owned by billionaire Sheldon Adelson, after the company transferred documents linked to a wrongful dismissal case to the United States from Macau.

It is the latest twist in a saga that has become a firestorm for the casino mogul, who owns casinos in Las Vegas, Macau and Singapore and is the most active donor in U.S. Republican candidate Mitt Romney’s presidential campaign.

    • About Susan

      "I cover the media sector, focusing mainly on Walt Disney Co and other big entertainment firms and the digital evolution that is currently reshaping that industry. Prior to this assignment, I covered the music industry, energy markets, commodity markets and corporate bonds. Before moving to Los Angeles in 1995, I held positions in the New York bureau and in Pittsburgh, PA."
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