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Arnold M. Knightly Gaming Guru - Page 31Cash flow, revenue dip in quarter for Harrah's12 May 2008
LAS VEGAS, Nevada -- Harrah's Entertainment on Friday joined other gaming companies and posted decreases in quarterly revenues and cash flow as the economic slowdown hurt the company's operations throughout the country.
However, Chairman and Chief Executive Officer Gary Loveman said several construction ... (read more)
Tropicana Entertainment boss may lose influence12 May 2008
LAS VEGAS, Nevada -- When Kentucky-based hotelier Bill Yung III took ownership of the Tropicana a mere 16 months ago, a $2.5 billion redevelopment of the 34-acre property was envisioned with five towers and 10,000 rooms.
Now, with his gaming subsidiary Tropicana Entertainment bankrupt, he may be ... (read more)
Nevadan at work: Former county manager returns to philanthropic roots at Harrah's12 May 2008
LAS VEGAS, Nevada -- If the name of the executive director of the Harrah's Foundation sounds familiar, there's a good reason. The socially conscious Thom Reilly was thrust into the public eye as the county manager of Clark County from June 2001 until August 2006.
He managed a multibillion-dollar budget ... (read more)
Riviera executive says bids lacked cash9 May 2008
LAS VEGAS, Nevada -- There were several offers to buy Riveria Holdings Corp. last year, but no one ever came forward with any cash to back up their bid, Chairman and Chief Executive Officer William Westerman said Thursday during a conference call announcing the company's first-quarter ... (read more)
Tropicana officials calm fears in wake of bankruptcy filing7 May 2008
LAS VEGAS, Nevada -- When the Tropicana opened 51 years ago, it was dubbed the 'Tiffany of the Strip.'
With its luster long gone and now overshadowed by more modern facilities, the well-worn property now has to struggle with its latest challenge: the bankruptcy of its owner.
Tropicana ... (read more)
Tropicana Entertainment files bankruptcy6 May 2008
LAS VEGAS, Nevada -- The Tropicana's parent company was working to file for bankruptcy Monday but said the Strip hotel-casino and the company's other properties would continue to operate while it seeks to negotiate with creditors.
Crestview Hills, Ky.-based Tropicana Entertainment said after the markets closed Monday that it would file for Chapter 11 bankruptcy in U.S. ... (read more)
Group to appeal decision on Michigan tribal casino5 May 2008
MICHIGAN -- A group opposed to gaming plans to appeal a court decision letting an American Indian tribe proceed with plans to build a casino in west Michigan.
The U.S. Court of Appeals in Washington, D.C., last week upheld a lower federal court ruling from Feb. 23, 2007, dismissing the group's lawsuit ... (read more)
Wynn says no to layoffs despite decline2 May 2008
LAS VEGAS, Nevada –- (PRESS RELEASE) -- Wynn Resorts Ltd. will not chase short-term financial gains by laying off employees in the face of the slowing economy, casino developer Steve Wynn said Thursday during a conference call to discuss the company's earnings report.
"I am telling anybody who is ... (read more)
Station thinks big with Viva project28 April 2008
LAS VEGAS, Nevada -- Station Casinos is designing the most ambitious project in its 32-year history -- a multibillion-dollar development that would be bigger than MGM Mirage's $8 billion CityCenter.
A mixed-use development, tentatively titled Viva, is envisioned for 110 acres on Tropicana Avenue just west ... (read more)
Station Casinos lays off 70 workers25 April 2008
LAS VEGAS, Nevada -- Station Casinos laid off nearly 70 workers at the corporate level because of the slowing economy, the company confirmed late Thursday.
Spokeswoman Lori Nelson confirmed the number but would not say which departments were affected, saying only it was a mix of "corporate management and support staff."
"We continue to be impacted by the economy," Nelson said. ... (read more)
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