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Arnold M. Knightly Gaming Guru - Page 47Nevada problem gambling bill expected to pass22 May 2007
NEVADA -- The Assembly Ways and Means Committee is scheduled to discuss legislation today that would make state funding of problem gambling treatment and research permanent.
A vote on Senate Bill 453 could also follow later in the day. The bill passed out of the Senate on May 7 following a 20-1 vote ... (read more)
Wynn faces dealer appeal18 May 2007
LAS VEGAS, Nevada -- Two dealers at Wynn Las Vegas are taking their challenge of the resort's new tip-pooling policy to the Nevada Supreme Court.
Attorneys for Daniel Baldonado and Joseph Cesarz delivered a series of briefs to Wynn Resorts Chief Executive Officer Steve Wynn's attorneys and the ... (read more)
Wasting away again, this time in Biloxi16 May 2007
BILOXI -- Harrah's Entertainment Tuesday said it will build the Margaritaville Casino & Resort in Biloxi, the largest Mississippi casino development since Hurricane Katrina pummeled the Gulf Coast casino industry in August 2005.
The $704 million project, the first large capital development project ... (read more)
Riv Acquisition may raise its bid for Riviera parent15 May 2007
LAS VEGAS, Nevada -- An investment group in a public war of words with the Riviera Holdings Corp.'s board of directors suggested Monday that it may counter a $30 per share buyout offer made for the gaming company late last week.
In a letter to Riviera Holdings' board, Riv Acquisition said it's ... (read more)
Development: W mixed-use project canceled14 May 2007
LAS VEGAS, Nevada -- The W Las Vegas mixed-use project slated for almost 50 acres along Harmon Avenue was canceled Friday after minority partner Starwood Hotels and Resorts Worldwide pulled out of the project.
In a brief e-mailed statement, the Edge Group said its partnership with Starwood is ... (read more)
Cosmopolitan developer bids anew for Riviera14 May 2007
LAS VEGAS, Nevada -- The battle for control of Riviera's parent company might be escalating into a bidding war.
A $30 per share offer for Riviera Holdings Corp. was submitted Friday by an investment group led by Bruce Eichner, the New York-based developer behind the $3 billion Cosmopolitan project ... (read more)
Station Casinos' earnings fall short of analysts' expectations10 May 2007
LAS VEGAS, Nevada -- Station Casinos' first-quarter earnings came in below analysts' expectations because of lower-than-expected revenue and higher operation and interest costs.
Earnings declined 44 percent to $23.1 million, or 41 cents per share, for the quarter ended March 31, from $41.1 million, or ... (read more)
Atlantic City market weighs on Harrah's9 May 2007
LAS VEGAS, Nevada -- Harrah's Entertainment posted a slight increase in first-quarter earnings due to higher operation costs tied to the Atlantic City market. The results misses analysts' forecasts.
First-quarter earnings ending March 31 rose 1.6 percent to $185.3 million, or 98 cents per share, ... (read more)
Going Private: Fertittas will cash, take stake8 May 2007
LAS VEGAS, Nevada -- Members of Station Casinos' founding family will cash out shares worth nearly half a billion dollars while using their extensive company stock holdings to help take the gaming company private, according to a filing Monday with the Securities and Exchange Commission.
Brothers ... (read more)
Riviera Holdings says it will hire adviser; profits double during quarter7 May 2007
LAS VEGAS, Nevada -- Riviera Holdings Corp. has rejected three takeover offers in the past nine months, but the parent of the Riviera on the Strip suggested Friday that it may be open to a buyout after all.
As he announced a doubling of Riviera Holdings' earnings, Chairman and Chief Executive Officer ... (read more)
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