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Arnold M. Knightly Gaming Guru - Page 37Project on Strip suffers setback17 January 2008
LAS VEGAS, Nevada -- The tightening lending market is jeopardizing the ownership of a multibillion-dollar hotel-condominium development under construction on the Strip.
The owner of the $3 billion Cosmopolitan confirmed Wednesday that he received a notice of default from Deutsche Bank after payments ... (read more)
Lake Las Vegas owners inheriting fiscal liability15 January 2008
LAS VEGAS, Nevada -- The new owners of Lake Las Vegas have a fresh set of challenges -- millions of dollars at stake in a series of lawsuits and unpaid bills left behind.
Atalon Group Chief Executive Officer Frederick Chin said he knew of the outstanding liabilities before the debt-restructuring ... (read more)
Stratosphere step closer to changing ownership10 January 2008
LAS VEGAS, Nevada -- The $1.3 billion sale of the Stratosphere's parent company to an affiliate of Goldman Sachs was recommended for approval by the state Gaming Control Board on Wednesday.
Whitehall Street Real Estate Funds is buying American Casino & Entertainment Properties, a gaming subsidiary controlled by billionaire corporate raider Carl Icahn. ... (read more)
Sale of Binion's recommended10 January 2008
LAS VEGAS, Nevada -- Binion's sale to Four Queens owner Terry Caudill for $32 million was endorsed by the state Gaming Control Board on Wednesday.
The struggling downtown property, which is owned by MTR Gaming of Chester, W.Va., will continue to be marketed under the Binion's name.
Caudill told ... (read more)
Hard Rock Hotel owners go forward10 January 2008
LAS VEGAS, Nevada -- The owners of the Hard Rock Hotel seem poised to start collecting revenues from the largest cash flow amenity on the property: the casino.
The state Gaming Control Board on Wednesday recommended giving joint partners DLJ Merchant Banking Partners and New York-based hotel operator ... (read more)
Flamingo dealers say union efforts draw fire8 January 2008
and Benjamin Spillman
LAS VEGAS, Nevada -- Dealers at the Flamingo say they are being hauled into meetings where top managers at the Strip resort tell their captive audiences why they shouldn't follow workers at Caesars Palace and Wynn Las Vegas by trying to organize a union.
Wynn Las Vegas ... (read more)
A little more space to rock 'n' roll3 January 2008
LAS VEGAS, Nevada -- The last of the Hard Rock Hotel's holiday garland was being removed Wednesday outside the Pink Taco restaurant as the sounds of a jackhammer filled the hallway.
The $750 million expansion and renovation project that will double the property's size and add 950 hotel rooms ... (read more)
Groovy going for Eastside Cannery10 December 2007
LAS VEGAS, Nevada -- In a county bulging with new construction projects, another hotel tower might not stand out.
But, when it's the first new hotel tower in 13 years on the Boulder Strip, it's hard to miss.
The steel frame of the Eastside Cannery, which topped off its 211-foot, 16-story hotel tower ... (read more)
Harrah's draws activists' criticism7 December 2007
LAS VEGAS, Nevada -- Local minority business groups and activists on Thursday criticized Harrah's Entertainment during state gaming regulatory hearings for not showing more transparency in its diversity efforts.
The testimony came a day after the Gaming Control Board recommended approval of the ... (read more)
Construction: Harrah's executive resigns5 December 2007
LAS VEGAS, Nevada -- Harrah's Entertainment's top construction executive will resign at the end of January, the gaming giant told its employees in a Nov. 30 company e-mail.
Kirk England, vice president of design and construction, will leave the company Jan. 31 after three years in his current position and ... (read more)
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