J.D. Morris
Story Archive
- Macau gaming revenue is down for the 12th consecutive month
- Monday, June 1, 2015
- Macau has now suffered a full year of declines in monthly gaming revenue, which is bad news for the multiple Las Vegas casino companies with major operations there. Figures released Monday by ...
- Casino execs: Expect the unexpected in Macau
- Monday, June 1, 2015
- Macau once was a reliable cash cow for Las Vegas casino companies. But for almost a year, the Chinese gambling hub has been a source of trouble. A government-led crackdown on corruption in China has ...
- Nevada gaming revenue up more than 5 percent in April
- Friday, May 29, 2015
- Nevada gaming revenue rose significantly in April, with some particularly strong increases in the Las Vegas area, the state said today. The Gaming Control Board said ...
- Former Riviera operators approved to manage Westgate Las Vegas
- Thursday, May 28, 2015
- The operators of the closed Riviera received final regulatory approval today to run the Westgate Las Vegas. The Nevada Gaming Commission voted to ...
- How skill-based slots, social media and more will shape the casino of the future
- Thursday, May 28, 2015
- Senate Bill 9, which unanimously passed both chambers of the state Legislature before Gov. Brian Sandoval signed it this month, allows for an element of skill in the traditionally chance-heavy realm of slot technology. It presents an opportunity for the casino industry to ...
- Most major casino executives express rosy view of Las Vegas economy, but Wynn disagrees
- Friday, May 22, 2015
- Wynn’s pessimism came to light April 28, when his company relayed quarterly earnings results that bore some tough news for shareholders. Much of the company’s poor performance traces back to Macau, which has seen 11 straight monthly declines in gaming revenue. Wynn told analysts in a conference call that ...
- Gaming group ‘troubled’ by possible government credit card ban at casinos
- Thursday, May 21, 2015
- A recent report that found federal employees improperly used government credit cards at casinos could have unnecessary consequences for the gaming industry ...
- Sandoval signs bill allowing for skill in slot machines
- Thursday, May 21, 2015
- Gov. Brian Sandoval’s office today announced that he signed legislation paving the way for the state gaming industry to incorporate skill into slot machines. Senate Bill 9 directs Nevada gaming regulators to ...
- UNLV law professor is a key player in Caesars Entertainment bankruptcy case
- Wednesday, May 20, 2015
- UNLV law professor Nancy Rapoport was recently appointed to lead a committee that reviews bills for legal work as well as other professional fees and expenses tied to ...
- Stratosphere parent reports big profit increase for first quarter
- Monday, May 18, 2015
- The company that runs the Stratosphere, Arizona Charlie’s and the Aquarius in Laughlin reported its first-quarter earnings on Friday. The company said its net revenue boost stemmed from more slot revenue, better occupancy, higher average daily room rates and ...
- Gaming on Nevada’s legislative radar, even if not the focus
- Monday, May 18, 2015
- Nevada’s casino industry hasn’t been the main focus this year in the Legislature, but it is an important part of the action in Carson City. Casino executives have been ...
- ‘It’s like a big scavenger hunt’: Buyers find bargains, collectibles at Riviera
- Thursday, May 14, 2015
- Price tags are affixed all over the Riviera now, and crowds poured in to inspect them today as the resort’s liquidation sale opened to the general public. The sale kicked off ...
- Loss down, casino revenue up at Cosmopolitan in first quarter
- Wednesday, May 13, 2015
- This is the Cosmopolitan’s first full quarter under the control of its new owner, Blackstone Group, which took over the property late last year. The Cosmopolitan saw its biggest year-over-year quarterly improvement on ...
- Riviera operators get initial approval to run Westgate
- Wednesday, May 13, 2015
- The operators of the shuttered Riviera are moving across the street. The state Gaming Control Board today granted its initial blessing for executives from Paragon Gaming ...
- MGM Resorts might rename, revamp its ‘underutilized asset’ Monte Carlo
- Tuesday, May 12, 2015
- The opportunity arose with the planned opening of the Park, a new shopping and entertainment area that MGM Resorts is building between Monte Carlo and New York-New York. “I would say we look at that property with a more positive lens than just about any property we own right now,” CEO Jim Murren said ...
- After strong first quarter, Station CFO optimistic about Las Vegas economy
- Monday, May 11, 2015
- Station said its quarterly performance was assisted by strong consumer confidence and spending levels. The company noted in a statement that those factors ...
- Caesars CEO: First quarter was company’s best since 2008
- Wednesday, May 6, 2015
- On a conference call with analysts, outgoing Caesars CEO Gary Loveman said the company has cut costs, made “new and exciting” investments in its hospitality offerings and ...
- Resorts World, off to ceremonial start, vies for theme of authenticity
- Tuesday, May 5, 2015
- Resorts World Las Vegas' Chinese theme isn't just for tourists — it should be appealing to Chinese citizens, too. At least that’s what executives sought to impress at ...
- ‘Thank you for 60 wonderful years’: Guests, employees say farewell to the Riviera
- Tuesday, May 5, 2015
- Although the hotel operations were still humming along in a largely normal fashion on Sunday, plenty of signs — literal ones — reminded guests that the end was near. One such sign by the check-in area states plainly that the Riviera closes at noon Monday ...
- Six decades later, Las Vegas says goodbye to historic Riviera
- Monday, May 4, 2015
- The Riviera closed at noon in advance of its eventual demolition. The Las Vegas Convention and Visitors Authority, which agreed to pay $182.5 million to buy the property in February, will replace the historic hotel-casino with more convention space ...
- Strip room rates fluctuate around Mayweather-Pacquiao fight
- Thursday, April 30, 2015
- The imminent “fight of the century” at the MGM Grand Garden Arena has caused room rates on the Strip to skyrocket recently, but it seems that some, at least, have now dropped ...
- Wynn Resorts: Elaine Wynn received only 17.1 percent of shareholder vote
- Thursday, April 30, 2015
- Elaine Wynn secured just 17.1 percent of the vote in her failed campaign for reelection to the board of Wynn Resorts, according to ...
- Gaming revenue in March down on the Strip, statewide
- Wednesday, April 29, 2015
- Nevada gaming revenue declined again in March, thanks to a steep drop on the Las Vegas Strip, the state reported today. The Gaming Control Board said ...
- Penn National to pay $360 million for the Tropicana
- Wednesday, April 29, 2015
- Penn National Gaming said this morning that its acquisition of the Tropicana will cost $360 million. The day after the sale was first reported by VEGAS INC, Penn began to shed light on its vision for the classic property. Penn, a regional gaming company that operates the M Resort in Henderson, reiterated ...
- Tropicana to be sold to Penn National Gaming
- Tuesday, April 28, 2015
- M Resort operator Penn National Gaming is buying the Tropicana, a classic but money-losing resort, according to an internal letter. The sale gives Penn its first resort in Las Vegas’ main casino corridor ...
- Macau pressures place hit on Wynn’s first-quarter earnings
- Tuesday, April 28, 2015
- CEO Steve Wynn used much of a conference call with analysts today to reiterate the tough conditions in China that have weighed down his company’s performance. His message was clear: A government-led crackdown on corruption that began last year …
- Las Vegas man linked to bitcoin poker site facing prosecution
- Tuesday, April 28, 2015
- In what’s believed to be an unprecedented move for Nevada, state Attorney General Adam Laxalt announced today that his office is prosecuting an individual tied to a poker website targeted by ...
- Sandoval names former casino exec to state Gaming Commission
- Monday, April 27, 2015
- Gov. Brian Sandoval today appointed a former longtime Northern Nevada casino executive to replace Joe Brown on the state Gaming Commission. Michonne Ascuaga, the former CEO of ...
- Should MGM branch out into real estate?
- Investment firm sees big potential in converting part of casino company into a REIT
- Monday, April 27, 2015
- Investment firm Land and Buildings is pushing MGM Resorts to adopt a proposal the investors say could skyrocket shares as high as ...
- Elaine Wynn loses fight to stay on board of Wynn Resorts
- Friday, April 24, 2015
- Elaine Wynn lost her fierce campaign to keep her seat on the board of Wynn Resorts today after stockholders voted in favor of two candidates endorsed by the company. Stockholders gathered this morning ...
- Joseph Brown resigns from Nevada Gaming Commission
- Thursday, April 23, 2015
- Nevada Gaming Commissioner Joseph Brown is stepping down from his post on the top regulatory body for the casino industry. Brown has been a member of the Gaming Commission for more than ...
- Gaming Commission approves sale of Gold Strike in Jean
- Thursday, April 23, 2015
- Nevada gaming regulators today signed off on the new ownership of the Gold Strike casino, paving the way for associated development along the freeway in the area ...
- In Wynn vs. Wynn, Elaine faces two company-backed rivals for board seat
- Thursday, April 23, 2015
- On Friday, stockholders will decide the outcome of Elaine Wynn’s heated campaign to stay on the board of Wynn Resorts by determining whether they prefer her or ...
- Macau hampers Las Vegas Sands financial results in 1st quarter
- Wednesday, April 22, 2015
- Las Vegas Sands, the casino company that runs the Venetian and Palazzo on the Strip, reported its first-quarter earnings today. The Macau casino industry has continued to suffer amid a crackdown by the Chinese government on corruption that ...
- ‘Make it shine’: New owner offers light at end of tunnel for Railroad Pass
- Friday, April 17, 2015
- Once a lonely outpost among MGM Resorts' holdings, Railroad Pass is getting some attention under its new owner, Joe DeSimone. The new boss — whose background is in real estate, not gaming — is planning several significant changes that will affect ...
- Elaine Wynn wins advisory backing in board battle
- Thursday, April 16, 2015
- Elaine Wynn has secured a third-party advisory endorsement in her contentious campaign for re-election to the board of Wynn Resorts making her tied with her opponents as the public fight approaches ...
- Another advisory firm frowns on Elaine Wynn’s re-election
- Monday, April 13, 2015
- Elaine Wynn has encountered a setback in her fight to stay on the board of Wynn Resorts due to an advisory firm’s recommendation that shareholders not support ...
- Gaming association sets sights on fighting illegal gambling
- Monday, April 13, 2015
- The gaming industry is trying to crack down on illegal gambling via a new project from its Washington, D.C.-based trade group. At a summit of state attorneys general in ...
- Inside the boardroom of Wynn Resorts is a power struggle being fought publicly
- Monday, April 13, 2015
- It has all the trappings of an intense political campaign, with contentious allegations, appeals to voters, a sleek candidate’s website and, of course, a high-stakes election. But the battle ...
- MGM Resorts, Wynn go cashless at poker tables
- Friday, April 10, 2015
- Two major Strip casino operators recently made changes to their poker operations that may reflect a broader push to beef up their anti-money laundering efforts. Effective this month, MGM Resorts International and Wynn Resorts no longer allow cash at their poker tables. Previously, poker players could use cash without first converting it into chips. Some experts think the change is motivated by ...
- $6.4 billion IGT, Gtech merger now complete
- Tuesday, April 7, 2015
- The $6.4 billion merger of leading slot machine maker International Game Technology and Italian lottery operator Gtech is finished. Company officials said today that the two entities have completed the combination of their businesses and that the new company, International Game Technology PLC, is now trading on the New York Stock Exchange under the IGT ticker symbol. The merger was ...
- Former Las Vegas mayor discusses the future of gaming
- Sunday, April 5, 2015
- Jan Jones Blackhurst, former mayor of Las Vegas, discusses gambling over the Internet, the bankruptcy of Caesars Entertainment and the importance of corporate giving, among other topics ...
- Sam Nazarian returns to SBE Entertainment
- Friday, April 3, 2015
- Sam Nazarian, the businessman who was unable to secure a full gaming license for his role in SLS Las Vegas, is back at the helm of his Los Angeles-based hospitality and entertainment company ...
- MGM Resorts finalizes sale of Railroad Pass
- Wednesday, April 1, 2015
- MGM Resorts International has completed its sale of the Railroad Pass casino to a local real estate professional ...
- February gaming revenue down on the Strip, statewide
- Tuesday, March 31, 2015
- Nevada gaming revenue declined slightly February, driven by a notable drop on the Strip, the state reported today. The Gaming Control Board said casinos won ...
- Cosmopolitan revenue up thanks to casino boost
- Monday, March 30, 2015
- Casino revenue increased most notably, rising 30.7 percent from last year to $203.2 million. The Cosmopolitan’s filing with the Securities and Exchange Commission said the property is focusing both on increasing its level of table game play ...
- Even without a gay bar, LGBT tourists have options on Strip
- Monday, March 30, 2015
- The fate of Liaison, the Strip’s first gay nightclub inside a casino, exemplifies how difficult it is for a gay venue to become a hit on Las Vegas Boulevard. Liaison closed after less than a year. But that doesn’t mean the Strip has given up catering to lesbian, gay, bisexual and transgender tourists. In fact, Strip resorts long have found success with events geared toward the LGBT market ...
- ‘Harry, this is Barack’: Obama surprises Reid during radio talk show
- Friday, March 27, 2015
During an appearance by Sen. Harry Reid this morning on KNPR’s “State of Nevada” talk show, the program received a surprise caller. "Harry, this is Barack," ...
- Gaming regulators scold Caesars, calling company’s bankruptcy an embarrassment
- Thursday, March 26, 2015
- Caesars executives had to appear before the Nevada Gaming Commission on Thursday for approval of some routine matters, and commissioners used it as an opportunity to ...
- Fourth-quarter revenue, income up at Stratosphere parent company
- Thursday, March 26, 2015
- The company that owns the Stratosphere, Arizona Charlie’s and the Aquarius in Laughlin, reported its fourth-quarter and full-year earnings today. The company attributed its net revenue increase for the quarter to ...