Junior creditors of Caesars Entertainment filed court papers today seeking to prevent the debt-ridden casino company’s financial restructuring plan from taking effect. In documents filed with the U.S. Bankruptcy Court in Delaware, the junior creditors are attempting to force Caesars’ operating subsidiary into bankruptcy before ...
Caesars Entertainment has cleared a critical threshold of creditor support for a bankruptcy restructuring plan in its operating subsidiary, the casino company announced today. In a filing with the Securities and Exchange Commission, Caesars said that more than 60 percent of first-lien bondholders have signed ...
With the deadline for a bankruptcy agreement fast approaching, Caesars Entertainment said today that more than 50 percent of first-lien bondholders signed on to a financial restructuring plan for ...
For evidence of just how important Sam Nazarian was to the creation of SLS Las Vegas, look no further than the iconic starfish-like silver sculpture that looms large at the front entrance. It's reportedly a caricature of Nazarian himself. Nazarian has been the face of the property since he purchased it when it was still the Sahara in 2007. He closed the Sahara four years later, then ...
The Nevada Gaming Control Board said that casinos won $876.3 million last month, a 0.04 percent increase from the same month last year. But gaming revenue for the fiscal year, which began July 1, is still ...
Financial filing offers new details on how restructured Caesars would function
Monday, Dec. 29, 2014
Caesars disclosed the creditor support in a Securities and Exchange Commission filing that expands on the restructuring plan first announced by the ...
Las Vegas-based poker journalist Marco Valerio had an idea for his tiny Ultimate Poker payout: pool the pennies generated from other players and donate the total to charity ...
The new ownership of the Cosmopolitan of Las Vegas will undoubtedly institute changes to the resort. But the resort’s workforce, apparently, will remain intact. The Culinary Union ...
Business will ‘continue as usual,’ CEO Gary Loveman says
Friday, Dec. 19, 2014
Casino giant Caesars Entertainment, which for years has struggled with massive debt, announced today that its largest subsidiary reached an agreement with key creditors on a financial restructuring plan. The subsidiary ...
Development along the Las Vegas Strip in 2015 will be important in subtle ways. Several projects that are changing the Strip’s physical dynamic will finish or edge closer to completion. The mix of tourism attractions will continue shifting more toward ...
The sale of the Cosmopolitan of Las Vegas cleared its last regulatory hurdle today when the Nevada Gaming Commission approved the $1.73 billion transaction. The sale was ...
Sam Nazarian, the Los Angeles nightclub tycoon and visionary behind SLS Las Vegas, was awarded a limited gaming license from Nevada regulators today. But under terms of the license ...
William McBeath, a former MGM Resorts International executive, is the next chief executive officer of the Cosmopolitan of Las Vegas. The resort announced McBeath’s appointment ...
Hakkasan Group initiated a major shakeup of the Strip’s nightlife business today with plans to acquire another prominent nightlife company, The Light Group, for $36 million. Morgans Hotel Group ...
UNLV's hotel college and law school are teaming up to form a center dedicated to researching gaming regulations and providing courses on the subject for industry professionals. The center is expected to be launched by the 2015-16 academic year, and its research will include examining the effectiveness of such regulations as ...
Unwin, who has been with the resort since 2009, will end his tenure as CEO at the end of the year but will continue afterward in a “consulting capacity” to help with the transition, according to a company press release. The release did not ...
Casinos, like banks and other institutions that deal with a lot of money, are required by law to vigilantly look out for financial transactions that may be illegal ...
Sam Nazarian, the businessman behind the development of SLS Las Vegas, was unable to persuade state regulators on Wednesday to let him be fully involved with ...
The Gaming Control Board recommended that the Nevada Gaming Commission later grant final approval of the sale of the upscale Strip resort, which is in the process of from Germany’s Deutsche Bank to a division of the Blackstone Group ...
Nevada gaming revenue declined for the third consecutive month in October, the state reported today. State casinos won $913.6 million last month, a 4.26 percent decrease from ...
Real Gaming, which is affiliated with the South Point, today revealed a promotion that will match balances of up to $3,000 for former Ultimate Poker players, according to a press release. To be eligible for the “Ultimate Match” promotion, players need to send in a screenshot of their Ultimate Poker account balance or a ...
With Caesars appearing to be poised to file for bankruptcy as soon as January, the company's future could be complicated. Here's an explanation of what's happening, and what could happen as ...
Nevada regulators today approved the merger of Scientific Games and Bally Technologies, paving the way for two of the biggest gaming technology companies to become an even larger combined entity. The state Gaming Commission ...
The Stratosphere’s parent company, which also owns Arizona Charlie’s and the Aquarius in Laughlin, reported its third-quarter earnings today. As with last quarter, nongaming revenue was key to ...
Ultimate Gaming, one of Nevada’s three legal online poker providers, announced today that it’s ending operations in the state. The move comes about two months after Ultimate Gaming withdrew from New Jersey. In a news release, the company referenced some of the online poker industry’s overall struggles as ...
Slot parlors, the role of technology in gambling and illegal sports betting are among the casino-related issues that the Nevada Legislature could take up when it convenes ...
Debt-saddled Caesars Entertainment confirmed today that it’s laying off less than 1 percent of its total workforce amid ongoing attempts to improve the company’s financial situation. Caesars employs about ...
ocals gaming giant Station Casinos, whose properties include Palace Station, Green Valley Ranch and Red Rock Resort, reported its third quarter earnings today. Station’s adjusted earnings before interest, income taxes, depreciation, amortization and management fees — its cash flow — was ...
In the spirit of Veterans Day, two Las Vegas casino companies recently announced major charitable contributions to the military community. MGM Resorts International said today it’s committing ...
Caesars Entertainment, the debt-saddled operator of many of the Strip’s most iconic resorts, reported its third quarter earnings today. Caesars has begun formal discussions with some creditors as ...
The company that operates the Cosmopolitan of Las Vegas reported its third-quarter earnings today. Revenue increased in every major category for the resort ...
More than a year and a half after Nevada legalized online poker, the game still hasn’t taken off here. And Tuesday’s election results don’t offer much hope that Congress will help improve the situation. Experts say the game would be more popular if ...
Another variation of the Wheel of Fortune slot machine is now offered in a free-to-play digital casino. International Game Technology announced today that the Wheel of Fortune Triple Extreme Spin game is available in ...
Can Las Vegas be the competitive bowling capital of the world? The South Point is trying to make it happen. Eight months ahead of schedule, the off-Strip hotel rolled out a new $35 million bowling tournament center on Thursday, adding to the long list of ...
Wynn Resorts, which runs the Wynn and Encore properties on the Strip in addition to resorts in Macau, reported its third quarter earnings today. Wynn Resorts Chairman Steve Wynn ...
Nevada gaming revenue dropped in September, the second straight month of decline, the state reported today. The state Gaming Control Board said Nevada casinos won ...
As Las Vegas’ major gaming companies are considering further domestic growth, states such as Massachusetts, New Jersey and California are themselves debating the expansion — or retraction — of gambling ...
South Point’s online poker website, Real Gaming, received final approval from state gambling regulators today. Real Gaming became the third real-money online poker site to operate in Nevada when it ...
MGM Resorts International announced today it has entered into an agreement to sell the Gold Strike in Jean to JETT Gaming, a slot machine route company ...
Westgate Resorts, which runs two properties in Las Vegas, announced today a companywide minimum wage increase to $10 per hour. The increase is effective ...