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Arnold M. Knightly Gaming Guru - Page 9New Golden Nugget tower to keep rates23 November 2009
LAS VEGAS, Nevada -- Don't expect the Golden Nugget to slash room rates just to fill its new 500-room tower with warm bodies at any price, the hotel-casino's top executive said this week.
Tilman Fertitta, Houston-based Landry's Restaurants chairman, chief executive officer and majority shareholder, said ... (read more)
Station Casinos granted extension in bankruptcy hearing23 November 2009
LAS VEGAS, Nevada -- A bankruptcy judge Friday temporarily extended the exclusivity period for Station Casino to submit its own restructuring plan until he can hear arguments on modifying a key lease agreement that some creditors oppose.
The deadline would have been this month under Chapter 11 rules, which give debtors 120 days after filing to submit a plan. ... (read more)
Michael Gaughan draws hall of fame recognition20 November 2009
LAS VEGAS, Nevada -- Longtime casino owner Michael Gaughan was inducted into the American Gaming Association Hall Of Fame on Wednesday for his four decades of leadership in the gaming industry.
Gaughan joins his father, El Cortez founder Jackie Gaughan, in the hall. They are the third father-son team to ... (read more)
Gaming industry not relying on Nevada20 November 2009
LAS VEGAS, Nevada -- Las Vegas gaming companies will need to look for new markets to expand to because the building boom that took place locally over the past 20 years won't be replicated, Boyd Gaming Corp. Chief Executive Officer Keith Smith said Wednesday.
"If you look out over the next 10 years, you ... (read more)
Union wants insiders to pull Station from bankruptcy20 November 2009
LAS VEGAS, Nevada -- Culinary Local 226 is asking Station Casinos' creditors to demand the Fertitta family and other insiders that profited from the buyout make "significant equity investments" to help the company emerge from bankruptcy, according to a union-sponsored report released Thursday.
Station ... (read more)
Debt-ridden casino operators told to expect pressure18 November 2009
LAS VEGAS, Nevada -- Casino companies struggling under heavy debts can expect lenders to continue forcing them to make tough decisions about restructuring, casino analysts and insiders said Tuesday during the Global Gaming Expo.
Despite that, though, one casino executive whose company recently emerged ... (read more)
Station Casinos posts $455.4 million loss17 November 2009
LAS VEGAS, Nevada -- Bankrupt Station Casinos' financial losses continue to mount.
The local gaming company posted a $455.4 million loss in the third quarter, a filing Monday with the Securities and Exchange Commission showed.
The company said its huge third-quarter net loss was tied to a debt ... (read more)
Vegas fraud a sign of the times17 November 2009
LAS VEGAS, Nevada -- Everything comes back in style eventually -- even crimes apparently.
That's what appears to be happening at many casinos today at least, according to a panel of security experts that spoke Monday during the first day of conferences at the Global Gaming Expo.
The panel said that ... (read more)
New Year's fireworks returns to Strip roofs16 November 2009
LAS VEGAS, Nevada -- New Year's Eve visitors to the Strip and pyrotechnic gazers from around the valley received good news Friday -- they might actually be able to see the fireworks show this year.
The annual fireworks show will return to the rooftops of seven hotels along the three-mile stretch of the ... (read more)
Privé Las Vegas files for bankruptcy13 November 2009
LAS VEGAS, Nevada -- The cost of recent legal troubles has forced embattled nightclub owner Privé Las Vegas to file for Chapter 11 bankruptcy protection.
The Miami-based company owns the Privé and its sister ultralounge, The Living Room, at Planet Hollywood Resort. The filing was made in the U.S. ... (read more)
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