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Arnold M. Knightly Gaming Guru - Page 14Historic Tropicana poised for pricey renovation17 August 2009
LAS VEGAS, Nevada –- New Tropicana co-owner and chief executive Alex Yemenidjian is still getting himself and his team acclimated to their new surroundings.
A former top executive at MGM Grand Inc., Yemenidjian is working 15-hour days trying to revitalize one of the Strip's remaining historic properties, ... (read more)
Station Casinos posts $65.3 million net loss17 August 2009
LAS VEGAS, Nevada –- Station Casinos, which filed for Chapter 11 bankruptcy July 28, posted a net loss of $65.3 million in the second quarter ended June 30 and revealed that one its newest properties is losing money, according to a filing made Friday with the Securities and Exchange ... (read more)
Debt hangs over group of gaming companies17 August 2009
LAS VEGAS, Nevada –- A group of earnings reports from smaller gaming companies had a common theme Friday: Revenues continue to fall while the companies talk to creditors about restructuring debt.
Planet Hollywood Resort expressed concern Friday that it may not be able to generate enough cash ... (read more)
Hard Rock Hotel negotiating $1.28 billion expansion loans14 August 2009
LAS VEGAS, Nevada –- The Hard Rock Hotel is in talks with lenders to push back a Feb. 9 maturity date on $1.28 billion in loans the owners used to purchase and expand the property, according to a filing with the Securities and Exchange Commission.
The company's agreement with lenders who hold ... (read more)
Harrah's Entertainment cuts long-term debt14 August 2009
LAS VEGAS, Nevada –- Harrah's Entertainment trimmed its long-term debt in the second quarter by 20 percent, relieving pressure on debt maturing through 2011, according to a Thursday filing with the Securities and Exchange Commission.
Harrah's lowered its debt to $19.3 billion from $24.2 billion through ... (read more)
Riviera earnings continue to sink11 August 2009
LAS VEGAS, Nevada –- Riviera Holdings Corp., which reported widening losses in the second quarter, said Monday it is still in talks with its creditors about its future.
The company, which owns the Riviera on the Strip and a casino in Colorado, posted a net loss of $13.5 million for the quarter ended June ... (read more)
Vegas casinos looking to pool resources10 August 2009
LAS VEGAS, Nevada –- There is strength in numbers. Or at least there's the ability to take larger bets.
That's what a group of locals casino operators are planning to do by pooling their sports book bets so their books can handle heavier action.
South Point owner Michael Gaughan received ... (read more)
Boyd Gaming after Station assets7 August 2009
LAS VEGAS, Nevada –- Boyd Gaming Corp. is "actively engaged" in discussions to acquire some of the assets of Station Casinos, which filed for Chapter 11 bankruptcy last week, Boyd Chief Executive Officer and President Keith Smith said Wednesday.
Boyd in February offered to acquire several of Station Casinos' properties for $950 million. ... (read more)
Gaming pioneer Jeanne Hood dies4 August 2009
LAS VEGAS, Nevada –- When former Las Vegas Mayor Jan Jones began her run for the office in 1990, one of the first people she sought out was Jeanne Hood, then president of the Four Queens.
"She wrote me one of my first checks when I was running for mayor," said Jones, who is now a senior vice president at Harrah's Entertainment. ... (read more)
Stratosphere parent company cuts long-term debt4 August 2009
LAS VEGAS, Nevada –- American Casino & Entertainment Properties, parent of the Stratosphere, on Monday said it cut its long-term debt load from $1.1 billion to $574 million in the second quarter, easing some stress on its financial stability.
The privately owned casino company -- which also owns ... (read more)
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