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Arnold M. Knightly Gaming Guru - Page 40Mergers and acquisitions: Station buyout clears last hurdle5 November 2007
LAS VEGAS, Nevada -- Station Casinos cleared its final hurdle to going private, winning approval of its $5.4 management-led buyout from the National Indian Gaming Commission, the company said Friday.
The Indian commission's approval clears the way for the $90 per share buyout to close early next week, ... (read more)
Riviera Holdings posts quarterly loss5 November 2007
LAS VEGAS, Nevada -- Riviera Holdings Corp. on Friday reported an $18.2 million operating loss because of one-time charges and despite improved revenues and cash flow in the third quarter.
Riviera Holdings, the parent company of the Riviera on the Strip, said the $18.2 million loss was driven by ... (read more)
Las Vegas hotels awash in pickets2 November 2007
LAS VEGAS, Nevada -- Union workers from Mission Industries laundry plants Thursday took their fight for a new Culinary union contract straight to the company's customers.
At the Tropicana, about 30 workers, many of them wearing T-shirts saying "One team, one dream" on the front, gathered on the ... (read more)
New Frontier set to be imploded25 October 2007
LAS VEGAS, Nevada -- Another well-known Strip property will soon be reduced to a tangled mass of steel and concrete.
The New Frontier will be imploded at 2:30 a.m. on Nov. 13 if plans submitted to Clark County's Department of Development Services and Fire Department are approved.
County officials ... (read more)
Developer downscales tower plans24 October 2007
LAS VEGAS, Nevada -- The dream of having the tallest building in the Western Hemisphere on the old Wet 'n Wild site fronting the Strip has apparently ended for a Texas-based developer.
The Federal Aviation Administration is reviewing a request from Christopher Milam, a partner in the proposed ... (read more)
Gaming Commission: Station buyout approved19 October 2007
LAS VEGAS, Nevada -- The $5.4 billion management-led buyout of Station Casinos Thursday won unanimous approval from five-member Nevada Gaming Commission although the private equity firm involved in the transaction had to assure the commission its ownership of the Las Vegas Hilton would not cause any ... (read more)
Constant need to renovate challenges gaming industry11 October 2007
and Joan Whitely
LAS VEGAS, Nevada -- Local gaming companies are always building something new these days. They're almost always upgrading or renovating something old too.
Room renovations are a regular part of a company's business cycle, much like "changing the oil on a car," said Gordon Absher, ... (read more)
Tails turn some heads10 October 2007
LAS VEGAS, Nevada -- Sarah Lockett knew she would be making a trip to the Playboy Club at the Palms with her husband, Steve, when they came to Las Vegas.
The husband and wife from Asheville, N.C., came to the club with $100 to bet. They ended their evening with $300 in chips and a picture of them ... (read more)
Resort remodeling: Oversight defended10 October 2007
and Arnold M. Knightly
LAS VEGAS, Nevada -- Clark County Manager Virginia Valentine attempted Tuesday to defuse two controversial aspects to the county's handling of remodeling projects at Harrah's Entertainment properties. Questions about those projects have led to the closure of hundreds of rooms at Harrah's Las Vegas and Rio. ... (read more)
Unions set deadlines for deal9 October 2007
LAS VEGAS, Nevada -- The Culinary and Bartenders unions Monday sent a message to most of the hotel-casino properties still negotiating new contracts: It's time to reach an agreement.
Culinary Local 226 and Bartenders Local 165 set deadlines for nine downtown properties to reach new contracts or ... (read more)
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