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Arnold M. Knightly Gaming Guru - Page 11Fontainebleau judge appoints examiner to sell project9 October 2009
LAS VEGAS, Nevada -- The judge overseeing the Fontainebleau Las Vegas bankruptcy case Thursday decided to appoint an examiner to try to sell the stalled project instead of converting the case into a Chapter 7 liquidation.
U.S. Bankruptcy Judge A. Jay Cristol said he wants to keep the developer involved in ... (read more)
Station Casinos seeking to hold off case6 October 2009
LAS VEGAS, Nevada -- Station Casinos will ask a bankruptcy judge in Reno today to uphold an automatic stay on a lawsuit filed by former employees seeking unpaid wages until after the company emerges from bankruptcy.
Judge Gregg Zive will hear arguments at 10 a.m. on whether to lift the stay on the lawsuit ... (read more)
Analyst says gaming won't save Vegas6 October 2009
LAS VEGAS, Nevada -- Many things went wrong with the gaming industry in Las Vegas, and new casinos aren't going to rescue the local economy from the current recession, a gaming analyst said at a recent roundtable discussion on the real estate market.
Consumers lost wealth, casino operators increased debt ... (read more)
Judge postpones Station hearing1 October 2009
LAS VEGAS, Nevada -- The judge overseeing Station Casinos' bankruptcy case on Wednesday rescheduled a hearing to decide whether to approve requests to appoint an examiner to look into several aspects of the case.
A group of lenders controlling about 5 percent of the company's $5.7 billion in debt filed a motion on Sept. ... (read more)
Planet Hollywood busts a part of safety push29 September 2009
LAS VEGAS, Nevada -- The arrests of six Planet Hollywood Resort employees in the past two months are part of a cooperative effort with law enforcement agencies to rid the resort of workers who could jeopardize the casino licensee's standing with casino regulators, resort officials ... (read more)
Planet Hollywood, Westgate bringing 1,201 rooms to Strip29 September 2009
LAS VEGAS, Nevada -- While attention has been focused on the bigger project across the street, the 1,201-room PH Towers at Planet Hollywood Resort has been moving toward a December opening.
The tower's opening will be competing for county inspectors' attention with MGM Mirage's CityCenter, which ... (read more)
Lenders seek to move Fontainebleau case to liquidation28 September 2009
LAS VEGAS, Nevada -- A group of secondary lenders for the bankrupt Fontainebleau Las Vegas filed a motion on Friday asking to do something the court itself has already indicated could happen: Move the case to liquidation.
The motion notes that the project has been in bankruptcy for three months and the developer has made no meaningful progress with its lenders to get it restarted. ... (read more)
Boyd Gaming won't be part of MGM hearings24 September 2009
LAS VEGAS, Nevada -- Boyd Gaming Corp. has received clarification from New Jersey regulators that the company will not be part of the hearings involving its partner in the Borgata in Atlantic City.
New Jersey's casino regulators said in July they reopened a licensing hearing into MGM Mirage's ... (read more)
Slump blamed for failure of Station buyout24 September 2009
LAS VEGAS, Nevada -- A special committee of Station Casinos board of directors has found that the economic failure of the company's $5.7 billion buyout was due to the economic downturn and not any inappropriate action by anyone involved in the buyout, according to a report filed Tuesday with the bankruptcy ... (read more)
Harrah's moves to restructure debt23 September 2009
LAS VEGAS, Nevada -- Harrah's Entertainment wants to sell up to $750 million of new term loans under its current credit facility, part of the gaming giant's continuing efforts to reduce its multibillion-debt and improve its ability to expand the company.
Harrah's said Tuesday it would use the proceeds ... (read more)
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