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Gaming News

Gaming news continually updated from thousands of sources around the net.

1 hr ago | The Canadian Press | Posted by The Canadian Press

Greenlight challenge to Stronach defeated at MI Developments annual meeting

“We need to end this stalemate”

- A reform proposal by dissident shareholder Greenlight Capital was defeated, as expected, at the annual meeting of MI Developments Inc. (TSX:MIM.A) - a dramatic event featuring an emotional speech by company founder Frank Stronach.

Greenlight, a New York investment firm, had called for MI Developments to provide only short-term funding to horse-track subsidiary Magna Entertainment (TSX:MEC.A), and for the land developer to raise its dividend, repurchase stock and increase debt.

The Greenlight proposal went down to defeat Wednesday, and Stronach - the controlling shareholder of MID, MEC and Magna International (TSX:MG.A), from which they were spun off - joined MI Developments chief executive John Simonetti in calling for an end to the public feud with Greenlight. Read more

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5 hrs ago | Daily Record

AC Council approves land plans for new casino

ATLANTIC CITY, N.J. -- Plans for a new $2 billion casino at Atlantic City's south end are one step closer to reality now that the City Council has approved a redevelopment plan for the area. via Daily Record

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10 hrs ago | The Daily Advertiser

Metairie man claims biggest La. Powerball jackpot

BATON ROUGE - A Metairie man who runs his own construction company claimed a $97 million Powerball prize, becoming the largest winner in Louisiana Lottery history. via The Daily Advertiser

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Related Topix: Metairie, LA, Lottery

18 hrs ago | MyFox St. Louis

New Casino Shows Slight Loss

' newest casino takes a loss in its first full quarter of operation. Las Vegas-based Pinnacle Entertainment opened the $507 million Lumiere Place on the St. via MyFox St. Louis

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Yesterday | Canadian Business Magazine

Pinnacle Entertainment 1st-qtr profit climbs, helped by Hurricane Katrina insurance proceeds

Casino operator Pinnacle Entertainment Inc. said Wednesday its first-quarter profit soared 76 percent, helped by Hurricane Katrina insurance proceeds. via Canadian Business Magazine

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Tuesday | www.covers.com | Posted by DCguy

Top gaming lobby group stays neutral on Internet betting

' Even though the Unlawful Internet Gambling Enforcement Act is coming under fire, don't expect legalized online wagering in the United States anytime soon.

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Tuesday May 6 | RGT Online

Group to appeal decision on Michigan tribal casino

“We don't think it is likely they will be granted a review.”

A group opposed to gaming plans to appeal a court decision letting an American Indian tribe proceed with plans to build a casino in west Michigan. via RGT Online

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Tuesday May 6 | KTVN Reno

MGM Mirage 1Q profit dips on some resort opening costs

MGM Mirage says its first-quarter profit fell 30%, weighed down by resort opening costs and the Monte Carlo's temporary closing. via KTVN Reno

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Related Topix: MGM Mirage, Hotels

Tuesday May 6 | RGT Online

April cruel to gaming stocks

“The stock price is going to be based on the performance of the overall company”

Publicly owned gambling companies lost 2.5 percent of their value in April, in large part due to economic tumult that has home prices in the basement and oil costs in the stratosphere. via RGT Online

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