Joseph Greff News
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Penn National Gaming Inc., the casino operator spinning off properties into a real estate investment trust, will call competitors “10 seconds” after its deal closes to see who’s willing to sell their resorts.
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Penn National Gaming Inc., the operator of 29 casinos and racetracks, surged to its highest price since 2008 after announcing plans to split into two public companies by placing most properties into a new real estate investment trust.
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Joseph Collins, Refco Inc.’s former outside lawyer whose 2009 fraud conviction was reversed in January, was found guilty Nov. 16 by a jury in federal court in Manhattan.
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Wynn Resorts Ltd., operator of the Wynn and Encore casinos, fell 5.3 percent after disappointing investors who expected a special dividend and reporting profit that missed analysts’ estimates.
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Wynn Resorts Ltd. rose the most in eight weeks after Macaubusiness.com said the owner of the Wynn and Encore casinos may sign a land contract for a proposed resort in Cotai, Macau, this month.
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The Las Vegas Strip’s recovery faltered in August as casino gambling fell 8.7 percent on a decline in baccarat revenue.
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Chinese equities traded in New York plunged and Suntech Power Holdings Co. fell the most in eight weeks after a U.S. Federal Reserve official cast doubt on whether the bank’s bond-buying program can boost growth.
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Chinese equities traded in New York climbed, led by consumer stocks, after a leading index signaled that the nation’s economic slowdown may be abating.
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Chinese stocks traded in New York rose the most in two weeks on prospects policy makers will take more steps to revive economic growth after a unit of its sovereign wealth fund vowed to support banking shares.
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Marriott International Inc. , owner of the JW Marriott and Ritz-Carlton brands, rose in New York trading after saying it would spin off its timeshare operations.
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