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Arnold M. Knightly Gaming Guru - Page 18Black Gaming reducing Oasis operations21 May 2009
LAS VEGAS, Nevada -- Mesquite-based Black Gaming cut its operations at the Oasis back further Wednesday as the casino company continues to struggle with declining visitor numbers and revenues.
Black Gaming will close the Denny's restaurant on May 31. It closed a go-kart track and miniature golf ... (read more)
Hooters Hotel reports big net loss19 May 2009
LAS VEGAS, Nevada -- Another local casino property in default on its debt did not receive good news with its first-quarter earnings.
Hooters Hotel widened its net loss in the first quarter, with steep declines in hotel revenues driven by fewer overnight visitors and lower room rates.
The ... (read more)
Harrah's throws support behind online bill7 May 2009
LAS VEGAS, Nevada -- Casino giant Harrah's Entertainment has thrown its support behind legislation introduced Wednesday that would allow Internet gambling by individuals in the United States, something that could open a whole new market for the owner of the World Series of Poker brand.
The proposed ... (read more)
Fontainebleau work will not stop despite layoffs4 May 2009
and Tony Illia
LAS VEGAS, Nevada -- Putting the brakes on the $3.1 billion Fontainebleau Las Vegas project will create problems once the developer and contractors begin bringing back the work force to complete the project.
Dr. David Shields, director of the construction management program at ... (read more)
Gans' death leaves Vegas shocked4 May 2009
and Tony Illia
LAS VEGAS, Nevada -- Usually on show nights, Danny Gans joined his band and crew for a short prayer. But on Friday night, for the first time in years, they prayed without him.
They held each others' hands -- tight, so tight -- a circle of 16 in the Green Room, near scores of ... (read more)
Financing problems lead to Fontainebleau layoffs1 May 2009
and Tony Illia
LAS VEGAS, Nevada -- Contractors on the $3.1 billion Fontainebleau Las Vegas project are laying off workers because the developer has been denied access to part of the $130 million in financing that was going to be used to fund construction, a spokesman for the resort said ... (read more)
Fontainebleau working on funding with bank29 April 2009
LAS VEGAS, Nevada -- One of the banks being sued by Fontainebleau Las Vegas broke its silence Tuesday to say it's negotiating with the developer to help finance the unfinished $3.1 billion project.
Bank of America spokeswoman Shirley Norton released a statement confirming the bank "continues ... (read more)
LV Sands, Wynn alter credit pacts22 April 2009
and Arnold M. Knightly
LAS VEGAS, Nevada -- Casino operators Las Vegas Sands Corp. and Wynn Resorts Ltd. recently took steps to amend how the companies borrow money from their credit facilities.
The moves could help Wynn and Sands fend off the financial turmoil that has befallen much of the ... (read more)
Forbearance deals give casinos, creditors time22 April 2009
LAS VEGAS, Nevada -- The recession was supposed to have sent several debt-heavy gaming companies that have been teetering on the edge of bankruptcy over that cliff by now.
Mostly that hasn't happened yet. Instead, creditors are keeping Station Casinos and other casino companies on a short leash as the ... (read more)
Station parcels offered for sale20 April 2009
LAS VEGAS, Nevada -- Station Casinos, which has been struggling under a mountain of debt and a declining revenues, is trying to sell several parcels of land it controls, including the former Castaways site.
The 30-acre site on Boulder Highway is listed with Kevin Higgins of Voit Commercial Brokerage for an asking price of $39.5 million. ... (read more)
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