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Arnold M. Knightly Gaming Guru - Page 43JOINT VENTURE: Arena plan unveiled23 August 2007
LAS VEGAS, Nevada -- Plans unveiled Wednesday outline a new sports and entertainment arena off the Strip, a facility to be built without taxpayer dollars jointly by Harrah's Entertainment and AEG, the biggest worldwide player in sports facilities and events.
The $500 million arena is to be built ... (read more)
Caesars Palace settles lawsuit21 August 2007
LAS VEGAS, Nevada -- Caesars Palace has agreed to pay $850,000 to settle a sexual harassment and retaliation lawsuit brought by the U.S. Equal Employment Opportunity Commission on behalf of eight employees, the federal agency announced Monday.
The lawsuit alleged that male supervisors at the ... (read more)
Hooters deal lives21 August 2007
LAS VEGAS, Nevada -- The proposed sale of Hooters Hotel is being slowed by the turbulent debt market, according to the developer who has an agreement to purchase the property.
Richard Bosworth of Hedwigs Las Vegas Top Tier said the investment group is still working to buy the off-Strip ... (read more)
Riviera, unions reach accord20 August 2007
LAS VEGAS, Nevada -- The Riviera on Friday reached a tentative accord on a new collective bargaining agreement with the Culinary Local 226 and Bartenders Local 165.
The tentative agreement, the second to be reached in this year's contract negotiations between the Culinary and Strip casino companies, will affect 1,000 union employees at the Strip property. ... (read more)
Tropicana makeover on hold for now17 August 2007
LAS VEGAS, Nevada -- The start of the Tropicana's $2.5 billion makeover has been delayed until at least 2008 because of a volatile debt market and rising construction costs, a company spokesman confirmed late Wednesday.
"There will be a delay in the Tropicana project tied to some operating issues ... (read more)
Hooters Hotel posts lower revenue16 August 2007
LAS VEGAS, Nevada -- New advertising and reduced room rates helped Hooters Hotel increase second-quarter occupancy. However, key revenue categories continued to run flat or decline at the property a quarter mile off the Strip, officials said Wednesday.
Cash flow, defined as earnings before ... (read more)
MERGERS AND ACQUISITIONS: Station buyout backed14 August 2007
LAS VEGAS, Nevada -- The newly formed company, Fertitta Colony Partners, is a joint venture between members of the Station Casinos' founding family and Los Angeles-based investment firm Colony Capital.
Final totals from the vote, held Monday at Red Rock Resort, and an official statement are scheduled ... (read more)
Casino security: With arrest, a career dangles13 August 2007
In the big money world of casino security, Steve Forte played like a high roller.
Harrah's Entertainment, the world's largest gaming company, bought copies of his books and videos to give to employees.
Forte's Web site boasts of consulting work with gaming companies and law enforcement agencies around ... (read more)
Culinary official chides Nevada regulators10 August 2007
LAS VEGAS, Nevada -- An apparent lack of concern by Nevada gaming regulators regarding staff cuts at the Tropicana has the Culinary union seeing red.
However, gaming officials say they are monitoring the property with a watchful eye.
"I'm not sure our gaming officials have been extremely concerned about anything," Culinary Secretary-Treasurer D. ... (read more)
Station Casino sees drop9 August 2007
LAS VEGAS, Nevada -- Station Casinos' second-quarter earnings fell 44 percent, weighted by expenses for construction and acquisition costs, the gaming company reported Wednesday.
The company posted net income of $15.1 million, or 27 cents per share, for the quarter ended June 30.
Analysts polled ... (read more)
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