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Arnold M. Knightly Archives
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Arnold M. Knightly

Penn National not expected to bid on Station properties

26 July 2010
LAS VEGAS, Nevada -- Penn National Gaming has a Nevada gaming license and a continued interest in buying a Strip casino or other Las Vegas properties. But a company executive said Thursday the regional casino operator is not expected to participate in a planned bankruptcy court auction next month of 11 casinos currently controlled by Station Casinos. ... (read more)

Harrah's submits new proposal on Kansas casino

26 July 2010
MULVANE, Kansas -- Harrah's Entertainment said Thursday it has submitted a new proposal to develop and operate a state-owned casino is south-central Kansas. The submission to the Kansas Lottery Commission is on a smaller scale than plans that were dropped by a company-led partnership in November 2008 at the beginning of the economic downturn. ... (read more)

Economic reality hits Las Vegas casinos

26 July 2010
LAS VEGAS, Nevada -- The future of the Las Vegas locals casino industry is being decided in a Reno courtroom for the second time in a year. Station Casinos is in the midst of an auction process that could have some of the dominant locals company's casinos sold off to new players, old players wishing to ... (read more)

Las Vegas Sands fires top Macau exec

26 July 2010
LAS VEGAS, Nevada -- Las Vegas Sands has fired its top executive in Macau. Sands China Chief Executive Officer and President Steven Jacobs was removed from his position, Las Vegas Sands said Friday in a filing with the Securities and Exchange Commission. Jacobs, who made a base salary of $1.3 million, was also removed as director of the subsidiary. ... (read more)

Date set for Station restructuring

19 July 2010
RENO, Nevada -- The U.S. bankruptcy court in Reno on Thursday cleared the way for Station Casinos to begin soliciting votes from its lenders on its reorganization plan. Judge Gregg Zive on Thursday approved the gaming company's disclosure statement and set an Aug. 27 date to begin hearings on the company's reorganization plan. ... (read more)

Global Cash Access looking to upgrade casino ATMs

15 July 2010
LAS VEGAS, Nevada -- Global Cash Access is asking gaming regulators to allow it to upgrade its casino-based ATMs so customers can get cash or ticket in-ticket out vouchers that could be used on slot machines. Global Cash's ATMs now distribute only cash, and the upgrade will need the approval of gaming authorities. ... (read more)

It's grow time for the World Series of Poker

5 July 2010
LAS VEGAS, Nevada -- Harrah's Entertainment's top executive is not shy about admitting that even he is surprised by the World Series of Poker's explosive growth since 2004. "I was quite confident there would be a lot more to this than existed at the time," Chairman and Chief Executive Officer Gary Loveman said about the poker tournament his company acquired in 2004. ... (read more)

Las Vegas Sands sees stock jump

2 July 2010
LAS VEGAS, Nevada -- Las Vegas Sands Corp. investors were the big winners in June, with the company's stock value climbing 11.12 percent for the month, a report issued by financial firm Applied Analysis shows. Investor interest in the company was driven by the opening of the $5.7 billion Marina Bay Sands in Singapore in the second quarter, the firm said. ... (read more)

Black Gaming reorganization plan approved

30 June 2010
LAS VEGAS, Nevada -- U.S. Bankruptcy Court Judge Bruce Markell approved Black Gaming's reorganization plan Monday, setting the stage for the Mesquite casino operator to emerge from bankruptcy this year. "We are extremely pleased with the court's decision, which clears the way for us to complete our debt ... (read more)

Penn National gets gaming license approval

18 June 2010
LAS VEGAS, Nevada -- Penn National Gaming was granted approval for a Nevada gaming license Thursday, clearing the way for the gaming company to quickly acquire a Las Vegas casino if the opportunity should arise. The Wyomissing, Pa.-based racetrack and casino operator received approval from the Nevada ... (read more)

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