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Featured Articles Archive - Page 466

  • Latest Articles     4651 - 4660

 
Articles by Howard Stutz

Planet Hollywood nightclubs get temporary liquor licenses

8 January 2010
LAS VEGAS, Nevada -- Embattled nightclub owners of Privé nightclub and its sister club Living Room were granted an extension Thursday of its temporary liquor license until April 9 by the Clark County Business License Department. The extension was issued by the county without a hearing before Clark County commissioners...read more
 
Articles by Howard Stutz

Shuffle Master could benefit from Pennsylvania decision

8 January 2010
LAS VEGAS, Nevada -- For table game supplier Shuffle Master, Pennsylvania's gambling expansion could be the jackpot. Gov. Ed Rendell signed a bill into law Thursday that will allow the state's slot machine-only casinos to add table games. Pennsylvania's 14 largest casinos can each add up to 250 table games, while the state's two small resort-style casinos can have a maximum of 50 games each. Casino operators will pay an upfront license fee of $16.5 million...read more
 
Articles by Howard Stutz

No megafight is no good for Vegas

7 January 2010
LAS VEGAS, Nevada -- Boxing fans aren't the only ones upset about the apparent demise of the Floyd Mayweather Jr.-Manny Pacquiao championship fight that had been scheduled for March 13 at the MGM Grand. Wall Street said Las Vegas could be losing out on a potentially lucrative payday. Macquarie Securities gaming analyst Joel Simkins told investors in a research note Thursday the fight would have provided the Strip a large amount of business. "Historically, mega-fights have been significant drivers of traffic into Las Vegas and high-end gaming activity, in addition to sports betting," Simkins said...read more
 
Articles by Howard Stutz

Analysts praise Pennsylvania table games approval

7 January 2010
LAS VEGAS, Nevada -- Pennsylvania Gov. Ed Rendell signed a bill into law last week that will allow the state's slot machine-only casinos to add table games to gaming floors. The new law will allow large Pennsylvania casinos to add up 250 table games each and smaller resort style casinos can add 50 games each...read more
 
Articles by Howard Stutz

Isle of Capri could run Station Casinos

7 January 2010
LAS VEGAS, Nevada -- Regional gaming operator Isle of Capri Casinos could become the manager of at least four Station Casinos-owned properties through an agreement reached with one of the bankrupt company's lenders. A spokeswoman for St...read more
 
Articles by Howard Stutz

Wynn to give wife half of his stock in divorce

7 January 2010
LAS VEGAS, Nevada -- Wynn Resorts Ltd. Chairman Steve Wynn will transfer half of his stock in the Las Vegas-based casino operator to his wife, Elaine, as part of their divorce settlement, but he isn't relinquishing control of the company. According to a filing Wednesday with the Securities and Exchange Commission, the casino billionaire will transfer more than 11 million shares of the company's stock, valued at some $741 million, to Elaine Wynn, a member of Wynn Resorts board of directors who was re-elected to a three-year term in May. Steve Wynn and Elaine Wynn separately will each retain about 9 percent ownership in the outstanding shares of Wynn Resorts, which are traded on the Nasdaq National Market. The transferred shares were previously communal property. Aruze USA Inc., a subsidiary of a Japanese gaming company, controls 19.9 percent of the outstanding shares in Wynn Resorts and is the casino operator's largest shareholder. Under an amended shareholders agreement, Aruze and the Wynns will vote their shares together on matters coming before the board, constituting 37.9 percent of the company's outstanding shares. Wynn Resorts officials declined comment on the matter. In August, Steve and Elaine Wynn sold 2 million shares of the company's common stock at $57 a share because of the "anticipated change in their marital status." The couple filed for divorce March 5 in Las Vegas, and the case was sealed the same day. Wynn Resorts stock closed at $66.96 on Wednesday...read more
 
Articles by Howard Stutz

Isle of Capri to take over Greektown in Detroit

6 January 2010
LAS VEGAS, Nevada -- St. Louis-based regional casino operator Isle of Capri Casinos will take over management of the bankrupt Greektown Casino in Detroit. The casino had been managed by the Las Vegas-based Fine Point Group, whose contract expired on Dec...read more
 
Articles by Howard Stutz

Pennsylvania table game vote could come this week

5 January 2010
LAS VEGAS, Nevada -- Pennsylvania's governor is giving state lawmakers until Friday to reach an agreement on legalizing table games, and he's holding the jobs of 1,100 state workers as hostage. Gov. Ed Rendell said he needs the tax revenues generated by Pennsylvania casinos to balance the state budget...read more
 
Articles by Howard Stutz

Analysts upgrade Wynn, Las Vegas Sands

5 January 2010
LAS VEGAS, Nevada -- Wall Street analysts upgraded the prospects of two Las Vegas-based casino operators based on the companies' holdings in Macau. Simultaneously, Macau media reported gaming revenue in the Chinese gambling market jumped 48 percent in December. The news sent shares of Wynn Resorts and Las Vegas Sands Corp...read more
 
Articles by Howard Stutz

Small casinos see recession as real adversary

4 January 2010
LAS VEGAS, Nevada -- Brad Fredella, general manager of the Stetson's Saloon and Casino on the Boulder Highway, doesn't consider neighboring large casinos such as Sunset Station, Green Valley Ranch Resort and the Fiesta Henderson as his competition. With 69 slot machines and an eight-seat race-and-sports book, Fredella said, Stetson's doesn't worry either about the 15-slot machine bars and taverns that populate the areas around downtown Henderson. The recession is his main adversary. Like many small businesses that depend on the depleted discretionary spending of consumers, Fredella tries to find ways to keep his customers returning. Value in Stetson's gaming and nongaming offerings continue to be the key. "I'm not in the position to give away $20,000 in a cash drawing or cars or boats or trips like the big casinos," Fredella said...read more

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