Hit movie prompts customers to inquire about suite seen in movie
Saturday, June 27, 2009
What do you get when you throw four inebriated bachelors, a tiger and a baby into a suite at Caesars Palace? One of the summer’s biggest movies, a new marketing campaign and people curious about your hotel. And that’s exactly what Caesars Palace wanted. “The Hangover” is the tale of a Vegas bachelor party gone wrong and puts Caesars at center stage for the debaucherous trip. The film has grossed more than $150 million since its June 5 opening.
Las Vegas Sands has completed its three 55-story hotel towers at Marina Bay Sands in Singapore nearly two weeks ahead of schedule, the company announced today. Sands will formally celebrate the topping off its $5.4 billion resort July 8.
More than 3,800 people attend two-day job fair for 800 job openings
Tuesday, June 23, 2009
With Nevada’s jobless rate hitting a record 11.3 percent in May, more than 3,800 people showed up to the Hard Rock’s two-day job fair on Monday and Tuesday. The hotel-casino is searching for workers to fill 800 new positions created by the property’s $750 million expansion project. Job-seekers lined up hours before the start of the event. Hard Rock recently hired 400-plus employees for the reopening of The Joint and the new steakhouse rare 120°.
The Hard Rock Hotel and Casino has begun its search for 800 more employees with the start of a job fair today and Tuesday. The job fair tied to the hotel-casino’s $750 million expansion project will be from 10 a.m. to 2 p.m. today and continue Tuesday from 3 p.m. to 7 p.m. Hard Rock recently hired 400-plus employees for the reopening of The Joint and the new steakhouse rare 120°.
Federal court reverses Wisconsin bankruptcy court ruling
Friday, June 19, 2009
A former Meadowbrook Manor nursing home chain executive must repay $1.25 million in gambling debts to Wynn Las Vegas and Caesars Palace, an appeals court ruled this week. The ruling followed Robert Jafari's Chapter 11 bankruptcy in his home state of Wisconsin.
International Game Technology has terminated the employment of some management level employees in a cost-cutting initiative, a regulatory filing revealed today.
Las Vegas Sands’ newest casino, Sands Bethlehem, generated $10.7 million in slot revenue during its 10-day soft opening, according to numbers released by the Pennsylvania Gaming Control Board.
The Polynesian-themed Trader Vic’s inside the Miracle Mile Shops will soon be closing its doors. A spokesperson for Miracle Mile said the restaurant will be closing but he didn't know the timetable. A formal announcement on the closing will be made soon.
First series of summer job fairs to be held June 22-23
Tuesday, June 2, 2009
The Hard Rock Hotel and Casino is hiring a total of 1,200 employees by the end of the year to accommodate the property's $750 million expansion project.
Harrah’s Entertainment announced today that it has launched a new subsidiary, Harrah’s Interactive Entertainment, to oversee the global and online growth of its World Series of Poker brand.
Casino is expected to bring additional competition to Atlantic City
Friday, May 22, 2009
About 2,500 miles away from its home base, Las Vegas Sands opened its newest casino this morning in Bethlehem, Pa. The $743 million Sands Bethlehem is about an hour from Philadelphia and northern New Jersey suburbs and an hour and half from New York City. The industrial design and architecture of the casino pays homage to the historic Bethlehem Steel Mill site the casino sits on. Sands Bethlehem debuted with 3,000 slots, four restaurants -- including Emeril Lagasse’s first restaurant in the northeast, Emeril’s Chophouse -- and two bars and lounges.
Gary Loveman says despite downturn, industry’s fundamentals are strong
Thursday, May 21, 2009
Gary Loveman, CEO of the world’s largest casino operator, said during a television interview Wednesday that Harrah’s Entertainment is in a more stable place than last fall and earlier this year. "The underlying fundamental health of the industry remains strong," he said.
Officials announce Las Vegas icon is making its way to National Register
Thursday, May 21, 2009
The “Welcome to Las Vegas” sign is now officially etched into history. Clark County officials announced today that the famous Las Vegas landmark has been accepted into the National Register of Historic Places. The sign, which has welcomed visitors since 1959, was inducted into the register on May 1 after months of research and paperwork by Clark County officials. A plaque was placed at the sign today, marking its place in the registry. “The sign is one of the few landmarks on the Strip that has lasted 50 years,” Clark County Commission Chairman Rory Reid said.
Commercial casinos brought in $32.54 billion in revenue in 2008, a 4.7 percent drop from 2007’s record level, according to survey results released today by the American Gaming Association.
Professors, students say slumping industry has altered classroom discussion
Saturday, May 9, 2009
The gaming industry has seen dramatic change in recent months. UNLV gaming professor Jeff Voyles would know. Today, he’s among gaming professors teaching students who hope to become future gaming executives and casino managers the skills they need to enter the workforce in one of the most trying times the industry has seen.
Bally Technologies reported a slight drop in profits today when the company cited net income fell 3 percent to $29.3 million in the third quarter of 2009 compared to $30.2 million the same period last year.
Regulatory filings released today for two Las Vegas gaming companies show that while the economy has taken a toll on casino operators, gaming companies are reporting lower salaries for their top executives.
The New Jersey Casino Control Commission announced today that it unanimously approved an agreement of sale reached by Tropicana Atlantic City and a group of investors led by Carl Icahn. It also authorized the casino’s trustee to take the property into bankruptcy court.
Ameristar Casinos reported today a net income of $29.9 million, or 52 cents a share, for the first quarter of 2009 compared to a net loss of $60.9 million, or $1.07 a share, in the comparable period of 2008.
Tropicana Atlantic City is one step closer to being sold after a group of negotiators completed a purchase agreement that would allow former Sands Hotel Casino Atlantic City owner Carl Icahn and a group of investors to buy the property.
The Tropicana Las Vegas closed a number of rooms in its Paradise Tower Thursday after the resort learned through inspections that “certain historical renovations” were not up to building code.
Despite the hit the casino industry has taken in recent months, casino operator Penn National Gaming reported virtually unchanged first quarter earnings today.
Reno company's earnings, revenue down as gaming industry faces strain
Thursday, April 23, 2009
International Game Technology reported a 44 percent drop in net income for the second quarter, due to a an multi-million dollar restructuring charge and the strain the economic downturn has put on the gaming industry.
Casino companies Wynn Resorts Ltd. and Las Vegas Sands Corp. each say they have amended their debt agreements to get more breathing room as they repay billions of dollars.
Wynn Resorts announced today in a regulatory filing that David Sisk, executive vice president and chief financial officer of Wynn Las Vegas, has left the company for reasons that were not disclosed.
Amid downturn, tourism, business officials team up for ‘Stay and Play’
Thursday, April 16, 2009
The Las Vegas Convention and Visitors Authority has partnered with the Las Vegas Chamber of Commerce to sweeten the pot for locals during tough economic times. The two organizations today announced their “Stay and Play Here” campaign to target locals with deals. The campaign’s Web site features special offers for locals in Las Vegas, as well as Mesquite, Laughlin, Boulder City and Primm.
Billionaire businessman critical of lower room rates, excessive debt
Thursday, April 16, 2009
Phil Ruffin, the Strip’s newest casino owner, weighed in on cash-strapped MGM Mirage, the local economy and his latest casino purchase during a television interview Wednesday night.
Las Vegas Sands announced today the appointment of Jason Ader to its board of directors. Ader is the CEO of Hayground Cove Asset Management, an investment management firm he founded in 2003.
Casino mogul Steve Wynn gave Americans a look into his life and work Sunday night during a “60 Minutes” interview with Charlie Rose. Rose referred to Wynn as “the man with the Midas touch who added glamour to the gambling industry,” crediting Wynn as the casino operator who turned Las Vegas into an international tourist destination.
Casino owner says he might buy Strip properties – if the price is right
Friday, April 10, 2009
Casino mogul Steve Wynn said during an interview this week he has little faith that federal stimulus dollars headed to Nevada will lift a struggling economy. President Barack Obama’s $787 billion stimulus plan will bring an estimated $1.5 billion to the state. Wynn said that’s not the solution.
Resort owner Anthony Marnell says the M Lightship’s work is done after one-year contract
Tuesday, April 7, 2009
More than 1,000 feet above the valley, airship captain Terry Dillard had a great view of Las Vegas. And for the past six months, Las Vegas had a spectacular view of his product. Until a few days ago, Dillard was responsible for The M Resort Lightship. But resort officials said Monday that the M Lightship won’t be back in the Vegas sky. It took its final flight March 31 and headed back to The Lightship Group headquarters in Orlando, Fla., on Friday after M Resort chairman and CEO Anthony Marnell III decided not to renew the blimp’s contract.
Revenue at city’s hotel-casinos dropped 14.9 percent in fourth quarter
Friday, April 3, 2009
Las Vegas isn’t the only gaming-dependent city suffering in today’s economy. A report released by the New Jersey Gaming Control Commission showed Atlantic City saw a 7.1 percent drop in revenue across the city’s hotel-casinos in 2008, compared to 2007. The city’s gaming revenue fell 14.9 percent during the last quarter of 2008 compared to the year-ago quarter. Las Vegas-based Harrah’s Entertainment, which owns more than 6,600 hotel rooms at four properties in Atlantic City, reported a net loss of $672 million during 2008, compared to a $66 million profit in 2007 at its New Jersey resorts.
Hooters hotel-casino operator 155 East Tropicana LLC announced Tuesday it won’t make an interest payment on its senior secured notes, an action that could lead the casino operator to file for Chapter 11 bankruptcy.
Another Las Vegas Sands executive is leaving the company. Brad Stone, executive vice president and president of global operations and construction, is resigning, according to a Securities and Exchange Commission filing today. A resignation letter was not attached to the SEC filing.
The black pyramid of the Luxor, already unique among the over-the-top Strip resorts, this week got even more interesting with a new ad that left many scratching their heads, wondering, "What the heck is that sign on the Luxor?" And that's exactly the reaction they wanted.
With little fanfare, businessman takes control of Treasure Island in early morning hours
Saturday, March 21, 2009
Phil Ruffin was a busy man Friday. The Kansas billionaire took over his newly purchased casino and hotel, Treasure Island, at 3 a.m. Friday, and 12 hours later, the Strip’s newest casino owner was still going strong. “Look at business today. There’s no sign of a recession here in Treasure Island,” Ruffin said as he walked through his property.
Ruffin working toward $20 million discount for paying in cash
Thursday, March 19, 2009
Treasure Island came under new ownership Friday morning. After months of a pending sale, Kansas billionaire Phil Ruffin was to take over the newly purchased property. The Nevada Gaming Commission approved Ruffin’s purchase of Treasure Island Thursday.
Moody’s Investors Service downgraded MGM Mirage for the third time in four weeks today due to the company’s decline in liquidity after it announced Tuesday it will pay back $300 million to its senior credit facility.
Company says Michael Leven started long before announced April 1 date
Tuesday, March 17, 2009
Las Vegas Sands board member Michael Leven has taken his position as president and chief operating officer earlier than expected, the company announced in a Securities and Exchange filing on Tuesday.
MGM Mirage today reached an agreement with bank lenders that will give the company more time to figure out a solution to the company's cash crunch. Instead of granting bank lenders collateral in the company's assets MGM Mirage has agreed to repay some of the money it owes and pay a higher interest rate.
Wynn Resorts announced today that directors Linda Chen, John Moran and Elaine Wynn have been nominated for re-election to the company’s board of directors, each for three-year terms.