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MGM Resorts and Aliante Casino Launch Mobile Betting Products

July 27th, 2015

MGM Resorts and Aliante Casino Launch Mobile Betting Products
MGM Resorts and Aliante Casino Launch Mobile Betting ProductsMGM Resorts, Aliante Casino make foray into mobile sports betting. Mobile betting enthusiasts in the state of Nevada have received some very good news this week as two land-based casinos decided to enter the mobile betting market. MGM Resorts, one of the leading Las Vegas casino operators, has just revealed that Nevada gamers will be able to access their mobile betting application starting from November. The company CEO Jim Murren hinted last month that MGM would stop expanding their casino floors and focus on other business areas and this is probably what he had in mind. MGM Resorts Mobile App to Launch in November Having joined forced with well-known software provider International Gaming Technology (IGT), MGM Resorts is ready to launch its mobile betting app in November, although chances are that the new betting system will not kick off until next summer. The company will offer anyone within Nevada borders who offers an account at their local sportsbook an opportunity to place wagers on the move, via the mobile app. MGM sports and race vice-president Jay Rood has revealed that customers will be handed out cards with mobile wagering information as they enter each of their three Las Vegas casinos and then be able to make deposits at a kiosk nearby. Aliante Casino Mobile Application Already Available Meanwhile, Aliante Casino has recently rolled out their mobile betting application. Their product runs on Miomni Gaming software and has been designed for rewarding gaming experience on iPhone and Android. Even if the players can place their wagers across Nevada, the only way to open an account, make deposits and withdrawals is in person, at the Aliante Sports Book in North Las Vegas. Sports betting in Nevada has only accounted for 2 per cent of the overall casino revenue in 2014, with leading books having generated $227 million, but the good news is that this type of gambling is on the rise. Sports betting revenue has been on a constant rise over the last few years despite the fact that total gaming revenue has been on the decline. There are still no studies that would show the impact of mobile betting, but there is a good chance this vertical will be on the rise as well, with Nevada having approved the first betting app some five years ago.

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Howard Stutz – Caesars reaches restructuring agreement with second-tier creditors

July 26th, 2015

Howard Stutz – Caesars reaches restructuring agreement with second-tier creditors
Howard Stutz – Caesars reaches restructuring agreement with second-tier creditorsCaesars Entertainment Corp. struck an agreement with a large group of the company’s second-tier debt holders, which could smooth out the bankruptcy reorganization of the casino operator’s largest business division.However, the deal would delay Caesars Entertainment Operating Co.’s exit from the process by six months.In a filing with the Securities and Exchange Commission late Monday, Caesars said the agreement gives the creditors, who are owed billions of dollars, “a substantial improvement in recoveries” once the bankruptcy restructuring is completed.Caesars said the agreement would become effective once 50 percent of the holders have signed on to the plan. Caesars did not say what percentage of the group had approved of the deal. Bloomberg News reported that the group that struck the deal with Caesars owns about 30 percent of debt and includes several hedge fund giants, including Paulson & Co., Canyon Partners and the Soros Fund Management.Under the agreement, bond holders signing onto to the plan will receive a forbearance fee of at least $200 million in convertible debt to be issued by Caesars Entertainment “in consideration for forbearing in respect to certain alleged defaults.”The announcement gave shares of Caesars Entertainment a boost the stock had not seen in several months. The company’s stock price rose as much as 27 percent on the Nasdaq on Tuesday, before settling back. Shares closed at $8.02, up $1.47 or 22.44 percent. Shares of Caesars Acquisition Co., which is 57 percent owned by Caesars Entertainment, also jumped on the Nasdaq, closing at $7.78, up 59 cents or 8.21 percent.In January, Caesars struck agreements with more than 80 percent of its largest lenders to place CEOC into a planned Chapter 11 bankruptcy reorganization. The division controls Caesars Palace, Caesars Atlantic City, Harrah’s Reno Casino and Hotel, and more than a dozen regional properties.Analysts said an agreement with a majority of the second-tier creditors was needed to speed along the bankruptcy case, which is being heard by a judge in the U.S. Bankruptcy Court in Chicago. Caesars is facing several lawsuits in New York and Delaware from creditors over the company‘s actions leading up to the bankruptcy.Bloomberg reported the original plan was to exit CEOC from bankruptcy by February, but the new restructuring plan pushes the date back to July 2016.Caesars Entertainment has a gaming industry high $22.8 billion in long-term debt, of which $18.4 billion is attached to CEOC. Through bankruptcy, the company hopes to eliminate almost $10 billion of the division‘s debt and convert CEOC into a real estate investment trust.Among several new commitments announced Monday night, Caesars said it would move Harrah’s New Orleans Casino and Harrah’s Laughlin Casino & Hotel, not currently part of the bankruptcy, into the planned REIT. Harrah’s New Orleans is controlled by Caesars Acquisition, which would be folded back into the parent company at the conclusion of the bankruptcy.Caesars took on the bulk of its debt in a $30.7 billion buyout by private equity firms Apollo Global Management LLC and TPG Capital.Under terms of the new agreement, Caesars will contribute a 5 percent equity stake in the REIT to the second lien debt holders, who will also have options, under certain conditions, to purchase a minimum of 2.5 percent REIT shares issued to first-lien debt holders.Caesars officials did not make any comments about the restructuring plans.The deal was announced a few hours after the company’s lawsuit against a group of creditors was dismissed by a New York state court judge.Caesars alleged in an August 2014 lawsuit that the second-lien creditors harmed the company through false allegations and demand letters.According to a court filing, Caesars offered to withdraw the lawsuit, although it wanted to leave open the possibility of refiling it, which prompted the second-lien bond holders to seek a dismissal.Caesars stock hit a 52-week low in June of $5.94 as investors worried the outcome of the legal proceedings could leave the casino operator in the hook to pay more than $1 billion in debt obligations. Several analysts believe an adverse decision against the company could force Caesars to follow CEOC into bankruptcy.TheStreet.com rating team placed a “hold” recommendation on Caesars shares, telling investors the company has “weak operating cash flow, a generally disappointing performance in the stock itself and generally higher debt management risk.”Copyright GamingWire. All rights reserved.

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A&E Reality Star In Exclusive Meet And Greet At Soboba Casino

June 6th, 2015

A&E Reality Star In Exclusive Meet And Greet At Soboba Casino
A&E Reality Star In Exclusive Meet And Greet At Soboba Casino SAN JACINTO, Calif., May 7, 2015 /PRNewswire/ – Barry Weiss, the star of A&E’s hit TV shows “Storage Wars” and “Barry’d Treasure”, is bringing his trademark antics and wily witticisms to Soboba Casino to crown the champion of Barry’s Big Slot Tournament. Set to take place on Thursday, May 14th, 2015 from 5 p.m. – 9 p.m., Soboba club members will have the chance to meet Barry personally in an exclusive meet and greet. All who attend will receive a free autographed picture of Barry and a photo opportunity with the star himself.Joining the club is free and easy. Anyone who is not a member can sign up at Soboba before the event and have their picture taken with one of TV’s hottest stars!”Good times are worth more than good money.” – Barry WeissSoboba club members had the opportunity for both in Barry’s Big Slot Tournament. Starting in March, players could enter the tournament to win a share of $220,000 in cash and prizes. Now Barry is joining in the fun by sending the winner home with a $50,000 grand prize on May 14th.Starting off in business with his brother Joey, Barry first made his fortune selling fruits and vegetables to cruise lines. It was, however, his passion for antiques that led to his current career as a professional collector. His unique knowledge on everything from classic cars to vintage war relics coupled with his eccentric personality landed him on TV and quickly made him one of A&E’s biggest stars.”We are delighted to have Barry Weiss join the Soboba family in this exciting club member tournament,” says Michael J. Broderick, Soboba Casino’s Director of Marketing. “Barry’s distinctive style and personality just adds to the excitement our players have experienced over the past two months and shows our guests that, at Soboba, it pays to play.”Soboba Casino features approximately 2,000 of the newest, hottest slot machines, an expansive and modern non-smoking room, 20 classic gaming tables featuring all your favorite card games, and a large outdoor event arena which easily accommodates over 10,000 people .  Need to recharge & refresh? Visit the cozy Soboba Cafe and Coffee Kiicha, or experience the AC’s Lounge with full cocktail bar and three giant HD flat screens including the”Sobobatron”, the Inland Empire’s biggest HD video wall.Soboba Casino is proudly owned and operated by the Soboba Band of Luiseno Indians. Come join us for all the fun and then some! Soboba Casino. Where Everybody Goes to Play! For more information visit: soboba.comSoboba Casino: 23333 Soboba Road, San Jacinto, CA 92583, (951) 665-1000Photo – http://photos.prnewswire.com/prnh/20150507/214651 

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Kimberly De La Cruz – Apple Pay debuting at The Cosmopolitan of Las Vegas

May 16th, 2015

Kimberly De La Cruz – Apple Pay debuting at The Cosmopolitan of Las Vegas
Kimberly De La Cruz – Apple Pay debuting at The Cosmopolitan of Las Vegas Apple Pay is debuting on the Strip this summer at The Cosmopolitan of Las Vegas.By early June, the resort’s front desk, concierge, restaurants and bars will accept the new payment method, according to a Tuesday announcement.“As always, we are thrilled to lead the market with a new component to a Las Vegas experience that makes everything a bit faster and a great deal easier,” Lisa Marchese, chief marketing officer of the property, said in a statement.Using the “contactless payment technology,” customers can make purchases with an iPhone, Apple Watch or iPad, according to Apple’s website.Existing forms of payment will not be affected.Copyright GamingWire. All rights reserved.

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Las Vegas Sands Reports First Quarter 2015 Results

May 1st, 2015

Las Vegas Sands Reports First Quarter 2015 Results
Las Vegas Sands Reports First Quarter 2015 Results LAS VEGAS, April 22, 2015 /PRNewswire/ — Las Vegas Sands Corp. (NYSE: LVS) today reported financial results for the quarter ended March 31, 2015.First Quarter OverviewMr. Sheldon G. Adelson, chairman and chief executive officer, said, “While the operating environment in Macao, particularly in the high-end gaming segments, remained challenging during the quarter, our focus on the higher margin mass and non-gaming segments and the geographic diversification of our cash flows allowed us to deliver in excess of one billion U.S. dollars of Adjusted Property EBITDA during the quarter.  Despite the current headwinds in the Macao market, we remain steadfast in our focus on the consistent execution of our global growth strategy, which leverages the power of our unique convention-based Integrated Resort business model. ”Our convention-based Integrated Resort business model appeals to the broadest set of customers, generates the most diversified set of cash flows, delivers the industry’s highest revenue and profit from non-gaming segments and brings the greatest economic and diversification benefits in the industry to the regions in which we operate.  We remain confident that the continued execution of our strategy will further extend our position as the global leader in Integrated Resort development and operation and enable us to deliver strong growth in the future. ”The prudent management of our cash flow, including the ability to increase the return of capital to shareholders while maintaining a strong balance sheet and ample liquidity to invest in future growth opportunities, remains a cornerstone of our strategy.”The company paid a recurring quarterly dividend of $0.65 per common share during the quarter, an increase of 30.0% compared to the first quarter of 2014. The company also announced that its next recurring quarterly dividend of $0.65 per common share will be paid on June 30, 2015, to Las Vegas Sands shareholders of record on June 22, 2015.  That dividend represents an increase of 30.0% compared to the dividend paid in the second quarter of 2014. Additionally, since the inception of the company’s share repurchase program in June 2013, the company has returned $2.23 billion to shareholders through the repurchase of nearly 31.0 million shares.  Mr. Adelson added, “The Macao market saw strong visitation from mainland China during the quarter and we enjoyed solid visitation to our Cotai Strip properties.  We welcomed over 16 million visits to our Macao property portfolio, delivered strong growth in the high-margin retail mall business and steady performance in most of the other non-gaming segments of our business.  Notwithstanding a challenging environment in the VIP and premium mass gaming segments, we delivered $527.7 million in adjusted property EBITDA across our Macao property portfolio.  We remain confident that our market-leading Cotai Strip properties, which will be complemented in the future by The Parisian Macao and the St. Regis tower at Sands Cotai Central, will continue to provide the economic benefits of diversification to Macao, meaningfully enhance the appeal of Macao to business and leisure travelers and provide an outstanding and diversified platform for growth in the years ahead.”In Singapore, adjusted property EBITDA decreased to $415.3 million in the first quarter of 2015, reflecting modest growth in mass gaming and retail mall revenues, offset by a decrease in Rolling Chip win during the current quarter. Adjusted Property EBITDA was up 0.2% on a constant-currency basis.  Mass win-per-day reached $4.70 million, an increase of 1.1% in the quarter compared to the year ago quarter. The mass win per day figure was an all-time quarterly record when measured in local currency terms.   Company-Wide Operating ResultsNet revenue for the first quarter of 2015 decreased 24.9% to $3.01 billion, compared to $4.01 billion in the first quarter of 2014. Consolidated adjusted property EBITDA of $1.05 billion decreased 29.0% in the first quarter of 2015, compared to the year-ago quarter.  On a hold-normalized basis, adjusted property EBITDA decreased 25.2% to $1.02 billion in the first quarter of 2015. On a GAAP (Generally Accepted Accounting Principles) basis, operating income in the first quarter of 2015 decreased 37.8% to $711.1 million, compared to $1.14 billion in the first quarter of 2014.  The decrease in operating income was principally due to softer results across our Macao property portfolio. On a GAAP basis, net income attributable to Las Vegas Sands in the first quarter of 2015 decreased 34.0% to $511.9 million, compared to $776.2 million in the first quarter of 2014, while diluted earnings per share in the first quarter of 2015 decreased 32.6% to $0.64, compared to $0.95 in the prior-year quarter. The decrease in net income attributable to Las Vegas Sands reflected the decline in operating income described above, offset by a $121.4 million decrease in net income attributable to noncontrolling interests. Adjusted net income (see Note 1) decreased to $531.1 million, or $0.66 per diluted share, compared to $793.9 million, or $0.97 per diluted share, in the first quarter of 2014.    Sands China Ltd. Consolidated Financial ResultsOn a GAAP basis, total net revenues for Sands China Ltd. decreased 34.9% to $1.77 billion in the first quarter of 2015, compared to $2.72 billion in the first quarter of 2014. Adjusted property EBITDA for Sands China Ltd. decreased 43.4% to $531.0 million in the first quarter of 2015, compared to $938.1 million in the first quarter of 2014. Net income for Sands China Ltd. decreased 54.2% to $344.7 million in the first quarter of 2015, compared to $751.9 million in the first quarter of 2014.The Venetian Macao First Quarter Operating ResultsDespite the softer gaming market in Macao, The Venetian Macao continued to enjoy Macao market-leading visitation and financial performance. The property generated adjusted property EBITDA of $269.9 million with an EBITDA margin of 34.3%.  Non-Rolling Chip drop decreased 22.5% to $1.87 billion for the quarter with a Non-Rolling Chip win percentage of 25.0%.  Rolling Chip volume during the quarter decreased 44.4% to $8.52 billion.  Rolling Chip win percentage was 2.83% in the quarter, below the 3.49% experienced in the prior-year quarter. Slot handle decreased 26.8% compared to the first quarter of 2014 to $1.06 billion.  Mall revenues increased 15.9% during the quarter to reach $44.4 million.The following table summarizes the key operating results for The Venetian Macao for the first quarter of  2015 compared to the first quarter of 2014:Sands Cotai Central First Quarter Operating ResultsNet revenues and adjusted property EBITDA for the first quarter of 2015 at Sands Cotai Central were $571.8 million and $155.9 million, respectively, resulting in an EBITDA margin of 27.3%.Non-Rolling Chip drop decreased 8.6% to $1.65 billion with a Non-Rolling Chip win percentage of 20.8%.  Rolling Chip volume was $6.08 billion for the quarter with a Rolling Chip win percentage of 2.76%.  Slot handle decreased 9.8% to $1.64 billion for the quarter.Mall revenues increased 53.4% during the quarter to reach $13.5 million.  Hotel occupancy was 81.5% with ADR of $173. The following table summarizes our key operating results for Sands Cotai Central for the first quarter of 2015 compared to the first quarter of 2014:Four Seasons Hotel Macao and Plaza Casino First Quarter Operating ResultsThe Four Seasons Hotel Macao and Plaza Casino generated adjusted property EBITDA of $44.5 million in the first quarter of 2015, a decrease of 60.6% compared to the year-ago quarter.  Non-Rolling Chip drop decreased 34.9% in the first quarter of 2015 to $229.0 million, while Non-Rolling Chip win percentage was 23.1%.  Rolling Chip volume decreased 56.9% to $3.96 billion for the quarter. Rolling Chip win percentage was 2.81% in the quarter, below the 3.62% experienced in the prior-year quarter. Slot handle decreased to $133.9 million during the quarter. The following table summarizes our key operating results for the Four Seasons Hotel Macao and Plaza Casino for the first quarter of 2015 compared to the first quarter of 2014:Sands Macao First Quarter Operating ResultsSands Macao’s adjusted property EBITDA decreased 37.2% to $57.4 million compared to the same quarter last year. Non-Rolling Chip drop decreased 27.7% to $789.9 million during the quarter, while slot handle decreased 12.0% to $707.1 million. Rolling Chip volume decreased 53.0% to $2.53 billion for the quarter. The property realized 2.86% win on Rolling Chip volume during the quarter, above the 2.59% generated in the year-ago quarter. The following table summarizes our key operating results for Sands Macao for the first quarter of 2015 compared to the first quarter of 2014:Marina Bay Sands First Quarter Operating ResultsMarina Bay Sands in Singapore generated adjusted property EBITDA of $415.3 million, a decrease of 4.6% compared to the first quarter of 2014.  On a constant-currency basis, EBITDA increased 0.2%.   Rolling Chip win percentage of 3.41% in the first quarter of 2015 was above the expected range and in-line with the 3.41% achieved in the first quarter of 2014.Non-Rolling Chip drop was $1.11 billion during the quarter. Slot handle increased 1.1% to $3.08 billion for the quarter compared to the year-ago quarter. Total mass win per day during the quarter increased 1.1% to $4.70 million, compared to $4.65 million in the first quarter of 2014. Rolling Chip volume decreased 22.0% to $10.09 billion for the quarter.ADR decreased to $414 during the quarter and occupancy decreased to 94.8%, driving a RevPAR decrease of 7.5% compared to the same quarter last year. Retail mall revenue increased 3.4% to $39.8 million during the first quarter of 2015, compared to $38.5 million in the prior-year quarter.The following table summarizes our key operating results for Marina Bay Sands for the first quarter of 2015 compared to the first quarter of 2014:Las Vegas Operations First Quarter Operating ResultsAdjusted property EBITDA at The Venetian Las Vegas and The Palazzo, including the Sands Expo and Convention Center, was $74.1 million for the quarter, a 7.0% decrease compared to the first quarter of 2014.  Hotel ADR increased 1.2% to reach $244 in the quarter while occupancy declined to 86.2%, compared to the first quarter of 2014.  RevPAR decreased 1.9% to $210 in the quarter.  Table games drop, which reflected a solid quarter for non-Baccarat play, increased 2.8% in the quarter to $533.1 million, while slot handle increased 22.3% to $578.5 million.The following table summarizes our key operating results for our Las Vegas operations for the first quarter of 2015 compared to the first quarter of 2014:Sands Bethlehem First Quarter Operating ResultsNet revenues for Sands Bethlehem in Pennsylvania increased 9.0% to $127.7 million and adjusted property EBITDA increased 12.8% to $29.9 million for the quarter. Table games drop increased 6.4% to $263.4 million for the quarter, while table games win percentage was 17.3%, which was higher than the 16.1% realized in the first quarter of 2014. Slot handle increased 6.0% year-over-year to $1.01 billion for the quarter with slot hold percentage of 7.1%.The following table summarizes our key operating results for Sands Bethlehem for the first quarter of 2015 compared to the first quarter of 2014:Asian Retail Mall OperationsGross revenue from tenants in the company’s retail malls on Macao’s Cotai Strip (The Venetian Macao, Four Seasons Macao and Sands Cotai Central) and Marina Bay Sands in Singapore reached $127.2 million for the first quarter of 2015, an increase of 17.3% compared to the first quarter of 2014.  Operating profit derived from these retail mall assets increased 22.8% for the quarter compared to the quarter one year ago, reaching $112.4 million.Other Factors Affecting EarningsOther Asia adjusted property EBITDA, which is principally comprised of our CotaiJet ferry operation, reflected adjusted property EBITDA of $3.5 million during the quarter, compared to a loss of $1.4 million in the first quarter of 2014.Pre-opening expense was $9.6 million in the first quarter of 2015, compared to $4.3 million in the first quarter of 2014.Depreciation and amortization expense was $253.9 million in the first quarter of 2015, compared to $261.0 million in the first quarter of 2014.Interest expense, net of amounts capitalized, was $66.3 million for the first quarter of 2015, compared to $71.1 million in the prior-year quarter. Capitalized interest was $4.2 million during the first quarter of 2015, compared to $1.7 million during the first quarter of 2014.  Our weighted average borrowing cost in the first quarter of 2015 was approximately 2.7%.Corporate expense was $45.2 million in the first quarter of 2015, compared to $50.7 million in the first quarter of 2014.Other income, which was principally composed of foreign currency gains, was $15.5 million in the first quarter of 2015, compared to $4.7 million of expense in the first quarter of 2014.The company’s effective income tax rate for the first quarter of 2015 was 8.3%. The tax rate is primarily driven by a provision for the earnings from Marina Bay Sands at the 17% Singapore income tax rate.The net income attributable to noncontrolling interests during the first quarter of 2015 of $99.1 million was principally related to Sands China Ltd. Balance Sheet ItemsUnrestricted cash balances as of March 31, 2015 were $2.41 billion.As of March 31, 2015, total debt outstanding, including the current portion, was $9.24 billion.Capital ExpendituresCapital expenditures during the first quarter totaled $367.3 million, including construction, development and maintenance activities of $326.5 million in Macao, $23.4 million at Marina Bay Sands, $14.3 million in Las Vegas, and $3.1 million at Sands Bethlehem.Conference Call InformationThe company will host a conference call to discuss the company’s results on Wednesday, April 22, 2015 at 1:30 p.m. Pacific Time. Interested parties may listen to the conference call through a webcast available on the company’s website at www.lasvegassands.com.Forward-Looking StatementsThis press release contains forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve a number of risks, uncertainties or other factors beyond the company’s control, which may cause material differences in actual results, performance or other expectations. These factors include, but are not limited to, general economic conditions, competition, new ventures, substantial leverage and debt service, government regulation, tax law changes, legalization of gaming, interest rates, future terrorist acts, influenza, insurance, gaming promoters, risks relating to our gaming licenses, certificate and subconcession, infrastructure in Macao and other factors detailed in the reports filed by Las Vegas Sands Corp. with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date thereof. Las Vegas Sands Corp. assumes no obligation to update such information.Note 1Adjusted net income excludes pre-opening expense, development expense, gain or loss on disposal of assets and loss on modification or early retirement of debt.About Las Vegas SandsLas Vegas Sands (NYSE: LVS) is the world’s leading developer and operator of Integrated Resorts. Our collection of Integrated Resorts in Asia and the United States feature state-of-the-art convention and exhibition facilities, premium accommodations, world-class gaming and entertainment, destination retail and dining including celebrity chef restaurants, and many other amenities.Our properties include the five-diamond Venetian and Palazzo resorts and Sands Expo Center in Las Vegas, Sands Bethlehem in Eastern Pennsylvania, and the iconic Marina Bay Sands in Singapore.  Through our majority ownership in Sands China Ltd. (HK: 1928), LVS owns a portfolio of properties on the Cotai Strip in Macao, including The Venetian Macao, The Plaza and Four Seasons Hotel Macao and Sands Cotai Central, as well as the Sands Macao on the Macao Peninsula.LVS is dedicated to being a good corporate citizen, anchored by the core tenets of delivering a great working environment for nearly 50,000 employees worldwide, driving impact through our Sands Cares corporate citizenship program and leading innovation with the company’s award-winning Sands ECO360° global sustainability program.  To learn more, please visit www.sands.com.     Contacts:Non-GAAP ReconciliationsWithin the company’s first quarter 2015 press release, the company makes reference to certain non-GAAP financial measures including “adjusted net income,” “hold-normalized adjusted net income,” “adjusted earnings per diluted share,” “hold-normalized adjusted earnings per diluted share,” “adjusted property EBITDA,” and “hold-normalized adjusted property EBITDA.”  Whenever such information is presented, the company has complied with the provisions of the rules under Regulation G and Item 2.02 of Form 8-K.  The specific reasons why the company’s management believes that the presentation of each of these non-GAAP financial measures provides useful information to investors regarding Las Vegas Sands Corp.’s financial condition, results of operations and cash flows has been provided in the Form 8-K filed in connection with this press release.Adjusted property EBITDA consists of operating income (loss) before depreciation and amortization, amortization of leasehold interests in land, gain or loss on disposal of assets, pre-opening expense, development expense, royalty fees, stock-based compensation and corporate expense.  Reconciliations of GAAP operating income (loss) and GAAP net income attributable to Las Vegas Sands Corp. to adjusted property EBITDA and hold-normalized adjusted property EBITDA are included in the financial schedules accompanying this release.

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Gaming Lobby Debates Lynch as Obama’s Pick for Attorney General

February 19th, 2015

Gaming Lobby Debates Lynch as Obama’s Pick for Attorney General
Gaming Lobby Debates Lynch as Obama’s Pick for Attorney General Loretta Lynch was nominated by the President Obama to replace Eric Holder as the General Attorney. The American Gaming Association, the gaming industry Capitol Hill’s leading lobby group, is entering the debate over President Obama’s decision to pick Loretta Lynch as the new Attorney General. The group is constantly trying to pass a federal crackdown on illegal gambling and its highest priority is protection of the fast growing gaming industry in the United States. Geoff Freeman, who is the AGA’s president, wrote a letter to the members of the Senate Judiciary Committee urging them to ensure that the next attorney general would take very seriously the problem of illegal gambling activities across the USA. Loretta Lynch was nominated by the President Barak Obama to replace Eric Holder, who is stepping down. The long-time Attorney General Holder will leave the place to Lynch who is currently a New York federal prosecutor. The hearings for Lynch’s confirmation are expected to start this Wednesday and it is not sure whether she will get the confirmation in the Senate, which is controlled by the Republicans. According To the AGA the Current Law Is Failing The American Gaming Association believes that the current law is failing to protect the market. The one to give this statement was Chris Moyer who is the association’s spokesperson. He also added that the group was not advocating for legislation yet, but he pointed out that the gaming market is huge and changes are needed as soon as possible. One of the biggest problems in the USA is the sports betting which is only allowed to a limited extent in several states and fully legalized in Nevada. Adam Silver, the NBA Commissioner, has already called for legalizing sports betting across the country, whereas the AGA is still not sure whether the group should ask for legalization or stronger enforcement. With the Super Bowl on the doorsteps, the association was busy highlighting the concerns it has about the status of illegal sports betting. According to their information, lots of people will place illegal bets whose total amount could be $3.8 billion, which is much higher than the expected Nevada’s legal betting of “only” $100 million. The Association Has Pulled Its Support for Online Gambling All of these actions by the AGA are part of its aggressive campaign to change people’s negative views on the gambling impact on the society. However, the group disappointed many online players when it announced withdrawing its official endorsement for online gambling. In May, 2014, it was the group’s chief executive Geoff Freeman who said that online gambling was an issue which couldn’t be led on by the association. As one of the reasons for their decision was the disagreement among major casinos such as MGM and Caesars which are advocates for legalisation and Las Vegas Sands, the biggest enemy of internet gaming. Before pulling its support for legalisation of online casinos in the USA, the AGA had submitted a written testimony to the US Congress in favour of iGaming. One of the strongest arguments then presented by the group was that “online gaming is here to stay.”

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Cashback als neue Art von Casino-Bonus

January 29th, 2015

Cashback als neue Art von Casino-Bonus
Cashback als neue Art von Casino-Bonus DOUGLAS, Isle of Man, January 8, 2015 /PRNewswire/ –Online-Casinos hatten jahrelang einen schweren Stand gegenüber ihren nicht-virtuellen Gegenstücken. Kostenlos verdoppelter Einsatz und Freispiele sind Branchenstandard, und sie sind ein effektives Marketingmittel, um Glücksspieler anzulocken, die um kleine oder um große Beträge spielen. Obwohl diese Angebote Ihren ursprünglichen Einsatz im Prinzip verdoppeln, verdreifachen oder vervierfachen, gehen sie häufig mit komplexen Spielanforderungen einher oder schränken die Möglichkeiten ein, wann und wie die Gewinne ausgezahlt werden können.     (Logo: http://photos.prnewswire.com/prnh/20141007/709528 )Dies ist gängige Praxis bei den meisten Online-Casinos und eine praktische Methode, Sie zu längerem Spielen zu verleiten und unter Umständen auch dazu, Gewinne zu verspielen, die Sie sich eigentlich sofort hätten auszahlen lassen wollen. Selbst wenn die meisten Spieler derartige Anreize für ein großzügiges Angebot halten, sind die im Allgemeinen doch zu schön, um wahr zu sein, und führen dazu, dass es Spielern erschwert wird, sich ihre Gewinne auszahlen zu lassen.Doch was passiert, wenn ein Online-Casino sich diese Mindesteinsatzbedingungen selbst auferlegt und wie ist das überhaupt möglich? Genau diese Angebot macht TradaCasino seinen Kunden, und es hat sich als äußerst beliebte und interessante Variante des sogenannten Casino-Bonus erwiesen.Mit Cashback von TradaCasino können Spieler ihre ursprünglichen Einsätze sowie ihre Gewinne zurückerhalten. TradaCasino hebt sich von der Masse der Online-Glücksspiel-Websites dadurch ab, dass es seinen Spielern einen Cashback-Bonus von 100 % in Höhe ihrer ersten Einzahlung und 25 % auf jede weitere Einzahlung gibt. Wenn Spieler sich dazu entscheiden, mit Cashback-Bonus zu spielen, sind sie nicht durch Mindesteinsatzbedingungen gebunden und können sich ihre Geldmittel jederzeit auszahlen lassen, wenn sie den Zeitpunkt für gekommen halten. Und das vielleicht Beste an Cashback bei TradaCasino ist: Spieler können Cashback bei einer großen Auswahl an bekannten Spielen erhalten, darunter die allseits beliebten Spiele Thunderstruck 2 und Immortal Romance.TradaCasino hat seine Kunden mit diesem Cashback-Angebot sehr beeindruckt und hilft Online-Glücksspielern dabei, die Einschränkungen zu erkennen, die mit Einsatzbedingungen und den unnötigen Folgen von Auszahlungsbeschränkungen einhergehen. Nachdem das Unternehmen sich einen Großteil der Kundenbeschwerden angehört hatte, entschied es sich für eine kreative Methode, um Kunden für sich zu gewinnen, indem es auf die Probleme eingeht, die den Spielern fast jeden Tag bei anderen Online-Casinos begegnen. Darüber hinaus hat TradaCasino gegenüber seinen Offline-Entsprechungen den Vorteil, dass Spieler auch dann etwas zurückerhalten, wenn sie verlieren!Um weitere Informationen zum Cashback-Casino TradaCasino zu erhalten, besuchen Sie TradaCasino.com; und vergewissern Sie sich bei Ihrem nächsten Besuch eines Online-Casinos unbedingt, ob die Werbeaktionen auch wirklich das halten, was sie versprechen.

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