As part of $165 million facelift, casino losing parts of its history
Wednesday, May 19, 2010
If the halls of the Tropicana could tell their stories, they’d have a rich history to share as one of the few Las Vegas hotels still standing more than 50 years after its opening. They’d tell tales of Tropicana's mobster owners and performers such as Sammy Davis Jr.
The Las Vegas Hilton swung to a loss during the first quarter of 2010 as revenue fell, according to a filing with the Securities and Exchange Commission on Friday.
Herbst Gaming reported an $8 million profit during the first quarter of 2010 as the company cut costs in its slot and casino operations, according to a filing today with the Securities and Exchange Commission.
In the old days - say, five or 10 years ago - a resort’s swimming pool was a place to park yourself, maybe indulge in an umbrella drink and build a tan before heading out to dinner, a show or gambling.
The Hard Rock Hotel and Casino posted a loss of $26.5 million during the first quarter of 2010 as expenses increased at the newly expanded property, it reported today in a regulatory filing. That loss compares to a $24.3 million loss during the same period of 2009.
Las Vegas Sands said stronger casino revenue and efficiency initiatives across its properties helped to narrow its loss during the first quarter of 2010. The Las Vegas-based gaming operator reported a net loss of $28.9 million, or 4 cents per share.
The U.S. commercial casino industry saw its revenue drop for a second straight year, according to survey results released today by the American Gaming Association.
Boyd Gaming swung to a profit during the first quarter of 2010, citing improving business trends in some of its markets. The casino operator reported net income of $8.4 million.
Wynn Resorts swung to a profit during the first quarter of 2010 as revenue increased in Las Vegas and Macau. The Las Vegas-based casino reported net income of $27 million, or 22 cents per share, in the first quarter of 2010 compared to a net loss of $33.8 million, or 30 cents per share, in the same period of 2009.
A library with dark, wood-paneled walls and a bookcase filled with leather-bound books sits adjacent to a regal living room at Caesars Palace’s Octavius Tower. You’d almost forget you were in Las Vegas if not for the tanning pool patrons outside the window.
Las Vegas Sands Chairman and Chief Executive Sheldon Adelson received a compensation package of $3.73 million in 2009, according to a Sun analysis of a Securities and Exchange Commission filing made Friday.
International Game Technology reported a 7 percent increase in profits during its second quarter of 2010, the Reno-based gaming manufacturer reported today.
Airlines resume flights to and from London for first time since volcanic ash grounded planes
Wednesday, April 21, 2010
Standing with her stack of luggage near the British Airways flight counter, Karen Graham waited patiently Wednesday afternoon to hear whether she’d finally be able to return to her home in Glasgow, Scotland, and her 9-year-old daughter. Graham has been in Las Vegas since April 7 for what was scheduled to be a 10-day vacation for her mother’s 60th birthday. Her trip was extended when her Sunday flight was cancelled.
MGM Mirage has asked its shareholders to allow the company to change its name to MGM Resorts International, according to a Tuesday filing with the Securities and Exchange Commission.
Riviera Holdings Corp. President, Chief Executive and Chairman William Westerman died Sunday, the company announced in a filing with the Securities and Exchange Commission on Monday. He was 78.
A new restaurant and bar opening at the Red Rock Resort is looking to put 200 people to work. Yard House, which also has a location at Town Square, will be kicking off its hiring effort to fill 200 positions Tuesday. The restaurant will open June 6.
The lodging portion of the MonteLago Village Resort at Lake Las Vegas is under new ownership, a California-based real estate investment firm announced today. The company said planned events and resort packages will be unaffected by the ownership shift.
More than four months after debuting its Las Vegas hotel, Mandarin Oriental at CityCenter unveiled its model condos Wednesday in an effort to grab more luxury buyers.
Las Vegas Sands announced today that after receiving approval of its table game application and renewal of its slots license at its Pennsylvania property, it will resume work on its 300-room hotel tower.
Steve Wynn's compensation as chief executive of Wynn Resorts changed little in 2009 as the casino operator struggled in Las Vegas, according to a recent filing with the Securities and Exchange Commission.
Aria, Mandarin Oriental boast the latest and great room technology in Las Vegas
Monday, April 5, 2010
Not so long ago, the quintessential Strip hotel room was an exercise in minimalism. After all, it was more important to be on the casino floor than in the room. So the electronic options included a television with limited channels, a clock radio, maybe a “Magic Fingers” vibrating bed. In recent years, rooms have gotten more channels, pay-per-view and Internet access.
Treasure Island’s Phil Ruffin is out to capture new plunder: That of budget-minded tourists with blue-collar tastes
Saturday, April 3, 2010
Just steps away from the pirate ship where sexy sirens make a splash nightly, Phil Ruffin is harboring a country-western haven. Gilley’s saloon, a brand popularized in the 1980 movie “Urban Cowboy,” was the featured attraction at Ruffin’s previous resort, the New Frontier, until that building was imploded in November 2007.
Herbst Gaming said it narrowed its losses in 2009, according to a filing today with the Securities and Exchange Commission. The Nevada-based casino and slot route operator reported a loss of $60 million in 2009, compared to a loss of $209 million in 2008.
Wynn Resorts released details Wednesday on its new nightclub and adult pool at Encore Las Vegas. The Encore Beach Club and Surrender nightclub, located in the former Encore porte-cochere, are both set to open Memorial Day weekend.
New Jersey casino regulators say Asian casino mogul Stanley Ho has extensive ties to Chinese organized crime and lets them "operate and thrive" inside his casinos.
The Hard Rock Hotel and Casino said it narrowed its losses by about 34 percent last year, according to a filing today with the Securities and Exchange Commission.
Las Vegas remains one of the top destinations for summer travel, although it ranks just behind Orlando, according to the American Society of Travel Agents.
Wynn Resorts narrowed its losses during the fourth quarter of 2009, the company reported today, and Chairman and Chief Executive Steve Wynn said he remains guarded on Las Vegas’ outlook. Wynn Resorts said it lost $5.2 million, or 4 cents per share, during the fourth quarter of 2009, compared to a loss of $159.6 million, or $1.49 per share, in the fourth quarter of 2008.
Harrah's Entertainment donates $1 million to former president’s philanthropic foundation
Monday, Feb. 22, 2010
Wealth and power aren’t required for initiating change, but turning good intentions into action can make all the difference in the world, former President Bill Clinton told an audience of Harrah’s Entertainment employees Monday evening.
Casino MonteLago at Lake Las Vegas will close on March 14, the casino owner announced today. The closure is a direct result of last week’s announcement that the Ritz-Carlton would be closing on May 2.
Casinos rolling out the red carpet for international guests
Friday, Feb. 12, 2010
Revelers who celebrated New Year’s Eve in Las Vegas have long recovered from their hangovers, tossed their party hats in the trash and made their way home. Now, a month and a half later, Strip resorts will spend the weekend ushering in another new year and one of the most important periods for their business. The Chinese New Year celebration begins Sunday, bringing thousands of international and domestic travelers and millions of dollars to Las Vegas.
Henderson's mayor says other businesses at MonteLago Village Resort just getting by
Wednesday, Feb. 10, 2010
This week’s announcement that the Ritz-Carlton at Lake Las Vegas is going out of business has raised concerns that the hotel’s closure will have a ripple effect on neighboring merchants.
The Ritz-Carlton Lake Las Vegas in Henderson will close its doors May 2. "Our owners, Village Hospitality, decided they could no longer fund the hotel," Ritz-Carlton spokeswoman Vivian Deuschl told the Sun.
Spread over two lots in downtown Las Vegas, gated behind chain-link fences, sit more than 150 pieces of vintage Vegas. The relics belong to the Neon Museum, which has been collecting old signs since 1996 and showcasing them throughout the city and at its Neon Boneyard.
Penn National Gaming reported a loss during the fourth quarter of 2009, the result of gamblers continuing to spend less, the company said today. The company made mention of its failed acquisition of the bankrupt Fontainebleau Las Vegas in today’s report.
A Las Vegas man accused of counting cards at the Paris Las Vegas casino on the Strip is taking Harrah’s Entertainment to court in his bid to re-enter the company's casinos after he was banned.
Las Vegas-based casino operator Ameristar Casinos reported a net loss for the fourth quarter of 2009 due to a bridge closure that limited access to its Ameristar East Chicago property and overall recessionary market pressures, the company said today in its quarterly report.
The sale of the Fontainebleau Las Vegas to Carl Icahn was approved during a bankruptcy hearing in Miami today. Bankruptcy Judge A. Jay Cristol approved the sale at about 8 a.m. Icahn emerged as the only qualified bidder last week.
Actor Nicolas Cage’s financial troubles have become someone else’s gain. A Las Vegas real estate company reported today that it sold Cage’s foreclosed, bank-owned home for about $3.5 million less than what the star bought it for in 2006. Cage bought the 14,300-square-foot home for $8.5 million in September 2006, according to Luxury Homes. The company announced Monday it sold the house for about $4.95 million after one day on the market.
International Game Technology saw its profit increase by more than 16 percent during the first quarter of 2010, the Reno-based gaming manufacturer reported today.
A member of American Casinos & Entertainment Properties' board of managers has resigned after less than a month on the job, according to a filing today with the Securities and Exchange Commission.