Featured Articles Archive - Page 197

MGM in 'preliminary' talks to bring NHL to Vegas

LAS VEGAS -- The chief financial officer for MGM Resorts International said Thursday the company has held discussions with a group looking to bring a National Hockey League team to Las Vegas, but the talks were preliminary.The casino operator is building a $350 million sports arena and event center behind New York-New York Hotel & Casino on the Strip...read more

MGM Resorts reduces third-quarter net loss

LAS VEGAS -- MGM Resorts International narrowed its third-quarter net loss, but said the company’s results on the Strip were somewhat tempered by construction activity related to its various renovation projects.MGM’s Strip properties as a whole suffered from a lower year-over-year table games hold on wagers.“We made some customers very happy in the quarter,” MGM Resorts Chairman and CEO Jim Murren said on a conference call with analysts and investors.The casino operator, which owns 10 Strip hotel-casinos and the CityCenter development, said Thursday its net loss of $20.3 million for the quarter that ended Sept...read more

Creditor walks away from restructuring talks with Caesars

LAS VEGAS -- One of Caesars Entertainment Corporation’s main creditors has walked away from talks on restructuring a large portion of the casino company’s $24.2 billion debt.In a filing with the Securities and Exchange Commission on Wednesday, Caesars said the creditor declined to extend a nondisclosure agreement to gain access to private information about the company’s operating units.Caesars didn’t name the creditor...read more

Timing right for suitors to pursue Full House

LAS VEGAS -- In the grand scheme of things, the proxy fight over Full House Resorts, Inc. seems like small potatoes.But with regional markets on a downward trajectory, the company is ripe for the taking.Las Vegas-based Full House owns three regional casinos and has a management contract for a Lake Tahoe resort...read more

Nevada gaming revenue declines for second straight month

LAS VEGAS -- Nevada’s casino industry suffered its second straight monthly gaming revenue decline in September with much of the blame leveled at an unlucky run by the Strip’s high-end baccarat rooms and a fortunate month for blackjack players.Statewide, gaming revenue fell almost 6 percent in the month...read more

Wynn revenues dip, but profits up in Q3

LAS VEGAS -- Wynn Resorts, Limited said Tuesday the company had a 1.4 percent dip in revenue in the third quarter, but results from the casino operator’s Strip properties boosted profits.Wynn said its net income for the quarter that ended Sept...read more

SEC approves Full House shareholder solicitation

A group of Full House Resorts, Inc. shareholders were given the go-ahead by the Securities and Exchange Commission Tuesday to solicit other stockholders of the casino operator on holding a special vote to remake the company’s board.The five-person group, headed by gaming executive Dan Lee, controls 6.2 percent of the Las Vegas-based company’s shares...read more

REIT sues Cannery Casino Resorts over racetrack casino purchase

LAS VEGAS -- The company buying a Pittsburgh area racetrack casino owned by Cannery Casino Resorts has sued the Las Vegas-based casino operator for allegedly breaching the $465 million purchase agreement.Gaming and Leisure Properties, the real estate investment trust spin-off from Penn National Gaming, Inc., said Tuesday it was unclear what impact the lawsuit that was filed in New York would have on closing the transaction, which was announced in May.The company is seeking unspecifiedf damages from Cannery.Gaming and Leisure Properties revealed the lawsuit as part of the company’s third-quarter earnings.“It appears that Gaming and Leisure Properties may have legal recourse to unwind the proposed transaction or at least negotiate a lower purchase price,” J.P...read more

Station Casinos makes the effort to help schools

LAS VEGAS -- What began as a way to financially help area schools in need has become a year-round effort for Station Casinos, Inc.The company hosted its annual Smart Start breakfast this month at Red Rock Resort Casino, Resort & Spa’s T-bones Chophouse and awarded $50,000 — $5,000 each — to 10 elementary schools designated by the Clark County School District as needing the greatest assistance for students.The donation brought the total to more $2.5 million that Station Casinos has given in the 14 years since the Smart Start program was launched by Frank Fertitta III and Lorenzo Fertitta, the casino company’s majority owners.The 2014 donation included $2,500 to Communities in Schools to assist Rex Bell Elementary and Ollie Detwiler Elementary with purchasing students uniforms...read more

Two months after debut, SLS Las Vegas president jumps ship

LAS VEGAS -- The SLS Las Vegas Hotel & Casino has changed presidents just two months after the $415 million Strip resort opened.The hotel-casino’s owners said Monday that Scott Kreeger would take over for Rob Oseland, who had been with the property since 2012, before the 18-month construction transition from the shuttered Sahara into SLS Las Vegas.Employees were told of the change Monday morning.Kreeger most recently was chief operating officer of the now-closed Revel in Atlantic City.Revel, which opened two years ago, was in the midst of a bankruptcy-mandated auction when the property closed after Labor Day weekend...read more