International Game Technology’s top executives told the company’s shareholders that allowing the slot machine manufacturer’s former chairman to win three seats on the board of directors in a proxy fight “would be a step in the wrong direction.”
Casinos & Gaming
The parent company of the Palms has agreed to pay a $1 million fine to settle a 17-count complaint by the Nevada Gaming Control Board resulting from a failure to prevent illegal activity, including drug sales and prostitution, at clubs on the property.
As Wynn Resorts Ltd. Chairman and CEO Steve Wynn confirms his intentions to build a $1 billion hotel-casino in Massachusetts, a key issue ahead will be obtaining local approval, a Las Vegas-based gaming industry analyst said Friday.
Ladbrokes Plc has entered into negotiations to purchase betting exchange operator Global Betting Exchange, which trades as Betdaq. The Dublin, Ireland-based company allows gamblers to formulate their own odds rather than relying on those set by a bookmaker. Ladbrokes wants to acquire the platform to bolster its own online operations.
Frank Fahrenkopf, a Reno native and former chairman of the Republican National Committee, said Monday he will step down as president and chief executive of the American Gaming Association.
Wynn Resorts Ltd., owner and operator of casinos in Las Vegas and Macau, is launching a new business focused on developing gaming and nongaming properties worldwide.