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Arnold M. Knightly Gaming Guru - Page 22Analyst says Hooters Hotel could default10 February 2009
LAS VEGAS, Nevada -- Hooters Hotel could default on its $130 million bond in the next few months if the current operating environment doesn't improve quickly, according to a bond analyst's Monday note to investors.
The note was issued after the off-Strip property estimated that it would post an operating loss of $1.5 million in the fourth quarter. ... (read more)
Station Casinos seeking Michigan opportunity9 February 2009
LAS VEGAS, Nevada -- While Station Casinos plans to file for bankruptcy in March, a joint venture of the casino company plans to seek financing and break ground within weeks on a $200 million American Indian casino in Michigan.
Station Casinos spokeswoman Lori Nelson said its tribal gaming contracts ... (read more)
Station Casinos' plan called 'good start'5 February 2009
LAS VEGAS, Nevada -- A bond analyst with KDP Investment Advisors said she thinks Station Casinos' prepackaged bankruptcy plan "is still fairly paltry," but she and other observers suggested bondholders may decide accepting the offer is a better option than forcing the company into bankruptcy in the current ... (read more)
Station Casinos seek deal with bondholders4 February 2009
LAS VEGAS, Nevada -- Station Casinos will ask bondholders to approve a prepackaged restructuring plan that could see the company emerge from Chapter 11 bankruptcy by the summer, the locals gaming company announced late today.
If the bondholders approve the plan, Las Vegas-based gaming company's owners, ... (read more)
Station Casinos near brink of default2 February 2009
LAS VEGAS, Nevada -- Station Casinos Inc., which operates Las Vegas-area properties including Red Rock Casino and the 2-month-old Aliante Station, may be on the brink of default, an analyst said Friday.
Station Casinos carried $5.4 billion in debt in the third quarter ended Sept. 30, much of ... (read more)
Nevada lawmaker wants law to curb boozing construction workers28 January 2009
RENO, Nevada -- A Northern Nevada lawmaker wants the legislative session that starts Monday to enact a law that will make "drinking of alcohol while working on construction projects" illegal.
"It's a serious issue," said Assemblyman Ty Cobb, R-Reno, who has proposed a legislative draft bill ... (read more)
Crown: No big changes for Cannery23 January 2009
LAS VEGAS, Nevada -- The top executive for Crown Ltd. told gaming regulators Thursday the Australian-based gaming company does not plan sweeping changes at Cannery Casino Resorts when it completes its purchase of the casino operator later this year.
"Upon acquisition, we propose to undertake a ... (read more)
Crown boss selling assets22 January 2009
LAS VEGAS, Nevada -- James Packer, the high-profile casino investor scheduled to appear before Nevada casino regulators today, is selling tens of millions of dollars in assets after seeing his personal wealth halved last year.
The 41-year-old Australian billionaire is entertaining offers for his $50 million yacht and $38 million London apartment. ... (read more)
Tropicana's new president ready for challenge19 January 2009
LAS VEGAS, Nevada -- Ron Thacker believes his new position heading the Tropicana, one of the Strip's most storied resorts, is part of a larger rebirth for him.
In 2006, his children were grown and his wife of more than 25 years lost her fight with cancer. That left Thacker facing an uncertain future ... (read more)
Black Gaming's troubles continue to mount16 January 2009
MESQUITE, Nevada -- The future of Black Gaming and its closed Oasis property in Mesquite became more precarious on Thursday.
The Mesquite casino operator missed a $5.6 million interest payment on its debt load that could trigger a default on nearly $191 million in debt in 30 days, according ... (read more)
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