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Arnold M. Knightly Gaming Guru - Page 51Casino industry: Bid for Station may hold28 February 2007
While a private equity group involving the founding family has increased its offer to take Station Casinos private, industry analysts say a follow-up bid that might drive the price higher is unlikely to come.
The gaming company announced Monday that it had agreed to accept a buyout bid from Fertitta Colony Partners of $90 per share, or about $5.4 billion. ... (read more)
Harrah's reverses quarterly loss28 February 2007
LAS VEGAS, Nevada -- A strong showing locally could not help the world's largest casino company meet analysts' earnings expectations despite better-than-expected revenues for the fourth quarter.
Harrah's Entertainment on Tuesday reported net income of $47.6 million, or 25 cents per share, for the quarter ended Dec. ... (read more)
Golden Palm to be shuttered, sold26 February 2007
NEVADA -- The Golden Palm Hotel is in its final days.
The property's owners, who tried and failed to redevelop the Golden Palm for the past seven years, decided to close the property March 12 and sell it by sealed bid April 5. The property's casino has been closed for more than a year.
The Golden ... (read more)
Casino business: Blink and you'll miss him26 February 2007
LAS VEGAS, Nevada -- Richard Marcus claims to have made more than a healthy living cheating casinos all over the world.
It is a claim that has to be taken on faith because he was never caught.
"I looked at what I did as an art," said Marcus, who said his teams took casinos around the world for $20 million. ... (read more)
North Las Vegas ready to embrace Aliante Station23 February 2007
LAS VEGAS, Nevada -- When developers first approached North Las Vegas officials about including a casino in the Aliante master-planned community, the reception was lukewarm at best.
"Five years ago when they first started planning Aliante, when they said they wanted a casino, my initial reaction was no," said North Las Vegas Mayor Michael Montandon. ... (read more)
Maxim permitted to move on22 February 2007
LAS VEGAS, Nevada – Clark County commissioners on Wednesday approved use permits for a proposed Maxim magazine-themed condo-resort project despite concerns by representatives and residents from the neighboring high-rise Sky Las Vegas.
Los Angeles-based Concord Wilshire Development, which was ... (read more)
Going Hollywood19 February 2007
LAS VEGAS, Nevada -- The Aladdin will soon fade into the long line of old Strip property names that live on in name only.
The formerly bankrupt and frequently maligned casino, which is now being remodeled, is expected to be officially rebranded the Planet Hollywood Resort & Casino in April, said ... (read more)
Speedway Casino sold away14 February 2007
LAS VEGAS, Nevada -- An out-of-state gaming operator is selling one of its two local interests.
Chester, W.Va.-based MTR Gaming Group announced Tuesday that it had entered an agreement to sell the Speedway Casino to Mandekic Cos., a local privately held company, for $18.2 million in cash.
The sale still needs approval from the Nevada Gaming Commission and the city of North Las Vegas. ... (read more)
Harrah's buyers attempt 'creative' funding13 February 2007
LAS VEGAS -- The private equity firms that are buying the world's largest gaming company plan to borrow against Harrah's Entertainment's land to help finance the $17.1 billion deal.
Apollo Management and Texas Pacific Group plan to break off some of Harrah's extensive land and property holdings into ... (read more)
Station unit to buy land for tribal casino5 February 2007
LAS VEGAS, Nevada -- A subsidiary of Station Casinos has reached a settlement agreement to buy 305 acres in central California for development into an American Indian gaming and entertainment site.
Terms of the settlement, reached last week, were not released.
Station Casinos has a development and ... (read more)
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