A federal judge on Thursday decided to allow Wolfgang Puck’s Chinois restaurant and the Poetry nightclub to move forward with their discrimination lawsuit against Caesars Palace and Simon Property Group.
Weidner isn't with the company or the board of directors
Monday, March 9, 2009
Las Vegas Sands announced today that board member Michael Leven will replace William Weidner as president and chief operating officer, effective April 1. Weidner is no longer with the company or a member of the board of directors, the company said.
Tropicana Entertainment announced today it is one step closer to exiting Chapter 11 after a Delaware bankruptcy court approved the company’s reorganization plan.
Due to the worsening economy and decline in visitation numbers in Las Vegas, Fontainebleau Las Vegas won’t be able to sell enough condos to reduce construction debt by the time the resort opens later this year, Moody’s Investor Service said today.
M Resort opens to crowd of cheering employees, visitors
Sunday, March 1, 2009
The M Resort opened with a bang at 10 p.m. Sunday night. After a 10-minute fireworks display over the resort's pool, the valley's newest casino opened to a crowd of cheering and curious locals. Visitors were welcomed by dealers applauding the opening and ready to deal out the first cards of the night.
Steve Wynn touched on more than just finances during Tuesday’s Wynn Resorts earnings call. The casino owner joined city officials in their criticism of President Obama’s remarks on corporations spending taxpayer dollars in Las Vegas.
Las Vegas-based gaming supply company Shuffle Master added to its list of changes in corporate leadership roles on Thursday. The company announced that Chris Philibbosian will step down as director of the company, effective immediately.
Resort moving ahead despite downturn in the economy
Friday, Feb. 6, 2009
The Hard Rock Hotel and Casino celebrated another step in its $750 million expansion project Friday when construction workers hoisted the highest piece of the structure atop the South Tower. The new 15-story tower will separate itself as the resort's all-suite tower, featuring 374 suites and eight “spa villas.” Crowning the tower will be seven penthouse suites.
Penn National Gaming today posted a fourth quarter loss of $378.6 million, compared to a $32.2 million profit the company saw in the comparable period for 2007.
Despite the difficult economic climate, gaming supply company Bally Technologies this afternoon reported a 37 percent increase in net income for the quarter.
Tropicana Entertainment plans to reposition itself as a value-oriented company, and it has hired some help to do so. The company, which owns Tropicana Las Vegas, is bringing in branding company Hornall Anderson Design Works to help define the Tropicana.
Las Vegas-based gaming supply company Shuffle Master announced today the retirement of chief executive officer Mark Yoseloff and the appointment of Timothy Parrott as his successor.
Casino debt climbed to nearly $93 million downtown, $773 million on Strip
Friday, Jan. 30, 2009
More bad news affecting Las Vegas' economy came out of two reports released Friday: Financial analysts are saying 2008 gaming revenues for Nevada and the rest of the country are down and that Las Vegas casinos are piling up significantly more debt.
New Frontier land owners Elad IDB Las Vegas LLC has reached an agreement to extend a $625 million loan it took to purchase the site for its multi-billion dollar Plaza Las Vegas project.
International Game Technology announced today that its board of directors has appointed former Harrah’s chairman and chief executive officer Phil Satre to its board.
Resorts expecting a busy week for Chinese New Year, Super Bowl
Tuesday, Jan. 27, 2009
The Strip has long been swept clean of confetti and empty bottles, and Las Vegas visitors have made their way home from the traditional New Year’s celebration. Now, almost four weeks later, Strip resorts once again are in the midst of a celebration ushering in a new year. The ancient tradition of Chinese New Year, which started Monday, will last until the beginning of February and will bring millions of dollars into the Las Vegas economy.
International Gaming Technology reported a 42.3 percent drop in profits for the first quarter due to a decline in product sales, increased costs to fund jackpots and unfavorable economic conditions.
IBIS World, a market research analysis firm, has forecasted an 8.4 percent decline in nationwide hotel-casino revenue by December 2009 as unemployment figures continue to rise.
UNLV testing shows 12 of 16 at levels that exceed EPA standards
Thursday, Jan. 15, 2009
More than two years after the Nevada Legislature passed the Indoor Clean Air Act, a UNLV and University of Kentucky study has found unsafe levels of air pollution due to secondhand smoke in Las Vegas Valley casino restaurants.
Tropicana Entertainment has filed a reorganization plan with the federal bankruptcy court in Delaware that would cancel the company’s long-term indebtedness and convert a portion of its debt into ownership stakes held by its creditors.
The Federal Reserve Bank of San Francisco’s board of directors on Monday appointed Las Vegas-based Boyd Gaming president Keith Smith to the board of directors of its Los Angeles branch.
The National Center for Responsible Gaming announced Monday Glenn Christenson of Velstand Investments has been named the new chairman of the organization’s board of directors.
International Game Technology today announced the promotion of Patrick Cavanaugh as the company’s new executive vice president and chief financial officer.
Hundreds pack gaming area on resort's opening night
Monday, Dec. 22, 2008
The newest casino on the Las Vegas Strip is open for business. Steve Wynn opened the doors tonight of his latest luxury resort, Encore Las Vegas. By the time the doors opened at 8 p.m., hundreds of people were waiting outside to enter the building in five different lines. The parking garage was full about 30 minutes later.
The U.S. gaming industry will remain under significant pressure in 2009 and will likely recover in 2010, according Fitch Ratings, a global credit ratings agency.
The last remnants of the New Frontier hotel and casino will soon disappear. Demolition began on the famed New Frontier marquee earlier this week at the request of across-the-street neighbor Steve Wynn. The empty lot where the casino and hotel once stood sits directly across from the Wynn Las Vegas and the $2.3 billion Encore Las Vegas, which opens Dec. 22.
The woman charged with fatally stabbing another woman at Bally’s hotel and casino in early September was sentenced Thursday to three to 10 years in prison.
Despite harsh economic times on the Strip, the Mirage launched its latest multimillion dollar addition Monday night, a project that has been on the resort's agenda for almost four years.
Metro Police on Wednesday are again asking for the public’s help in identifying a man wanted in connection with a casino robbery Nov. 12 on North Rancho Drive.
The Strip’s newest addition, Encore Las Vegas, launched its Web site today, giving visitors a sneak peek at Steve Wynn’s $2.3 billion luxury resort and casino.
With attendance down, some say companies sent their key decision makers
Thursday, Nov. 20, 2008
Despite a drop in attendance, gaming technology exhibitors said they mostly had a successful year as the Global Gaming Expo came to a close Thursday evening.
CEO: Gaming will bounce back — but not without tough choices
Wednesday, Nov. 19, 2008
Casino and gaming executives from domestic and international companies weighed in on the current economic crisis at this morning’s Global Gaming Conference in Las Vegas.
The Global Gaming Expo kicked off its eighth annual convention Tuesday morning at the Las Vegas Convention Center. G2E is expected to bring in an estimated 30,000 gaming professionals from around the world, despite the harsh economic times the industry is facing.
Casino execs and gaming professionals will be taking a look at the newest trends in the industry when the Global Gaming Expo hits the Las Vegas Convention Center next week.
The Morgans Hotel Group, part owners of the Hard Rock Casino and Hotel Las Vegas, today reported a $9 million net loss for the third quarter, compared to a $10 million loss in the comparable period for 2007.
The Hard Rock Hotel celebrated a milestone in an $850 million expansion project Friday when construction workers hoisted the highest piece of the structure atop a new North Tower.
Despite the current economic situation, Caesars Palace is still growing. The hotel/casino celebrated the topping off of its sixth high-rise tower today, The Octavius Tower. The new tower is slated to open in summer 2009.