Featured Articles Archive - Page 531

Sands suspends construction in Vegas and Macau

LAS VEGAS, Nevada -- Las Vegas Sands Corp. told investors Monday it's stopping construction on its $600 million Strip condominium tower and shelving some of its development plans in China. Company President Bill Weidner said the changes could reduce Las Vegas Sands' capital expenses by $1.8 billion. "We are going to right size our development pipeline," Weidner said. Also, Las Vegas Sands announced plans for a $2.14 billion capital raising program with Wall Street investment firm Goldman Sachs...read more

Eastgate locks up 2008 WSOP crown

LAS VEGAS -- Denmark's Peter Eastgate beat Russia's Ivan Demidov in four hours of heads-up play Monday night to win the World Series of Poker Main Event and $9.1 million. Demidov won $5.8 million for finishing in second place. With the victory, the 22-year-old Eastgate became the youngest WSOP Main Event champion...read more

WSOP final table heads-up notebook

LAS VEGAS -- Erick Lindgren is generally regarded as one of the most well-liked poker professionals, both by the fans and fellow pros. And if you consider the generosity he has shown towards his family, it's easy to see why. When Lindgren finally won his long-awaited World Series of Poker bracelet in June, the first thing he did was call his parents back home in California and tell them he was sending them the actual bracelet as a reward for all of their support...read more

Top-10 memorable moments from the WSOP Main Event final table

LAS VEGAS – It was the goal of the people who run the World Series of Poker to generate more drama and excitement for the Main Event's final table by pausing the action for 117 days. Anyone who was inside the Penn & Teller Theater on Sunday and Monday to see the 2008 champion crowned would find it difficult to deny that goal was accomplished. Here's 10 moments from both inside and outside the rail that we here at Casino City considered to be the most memorable. 10...read more

WSOP final table down to Demidov-Eastgate

LAS VEGAS -- Ivan Demidov and Peter Eastgate are at the top of the poker universe. After waiting 117 days to begin table action at the World Series of Poker Main Event, Ivan Demidov and Peter Eastgate outlasted and outplayed the rest of the November 9 Sunday and will play heads-up for the WSOP Main Event bracelet and $9.1 million on Monday night...read more

Spirited fan base floods the Main Event final table

LAS VEGAS -- Anyone who ever doubted the concept of poker as a spectator sport would probably have a change of heart after seeing the spectacle that transpired at the Penn & Teller Theater Sunday morning. It was like March Madness and a heavyweight prize fight all rolled into one...read more

WSOP final table notebook

LAS VEGAS - Of the many reasons given by Harrah's and the World Series of Poker for deciding to delay the Main Event final table, one of them was for the nine players to gain more exposure and, in turn, secure lucrative sponsorships. Almost four months seemed like it would be plenty of time for potential sponsors to come knocking, but as a couple of players noted Sunday after they were eliminated, the timing just wasn't there for them to attain much in terms of sponsorships...read more

Deal Me In: When in doubt, let the house set your hand

Dear Mark: As someone new to pai gow poker, would you a) play the game, and b) advise letting the dealer set my hand since I'm a beginner? Pat T. Pai gow poker is a variant of American seven-card poker. It is played with a standard 52-card deck and a joker, but differs from the typical seven-card game in that you play against a banker, not against the other players at the table...read more

Moody's downgrades Fontainebleau debt funding

LAS VEGAS, Nevada -- Moody's Investors Service on Thursday downgraded to negative ratings nearly $2.5 billion of debt funding the Fontainebleau project on the south Strip near the Riviera. Moody's bond analyst Keith Foley said in a note to investors the $2.9 billion project has sufficient financing to achieve its scheduled opening in late 2009. However, declining gaming revenues and weak demand for condominium-hotels in Las Vegas increases the risk the property won't be able to meet its debt service obligation when it opens. The project has not begun selling its 1,018 condo-hotel units, proceeds from which are applied to debt reduction during construction. "Any shortfall in condo-sale proceeds relative to original expectations will have a direct negative impact on (Fontainebleau's) leverage," Foley wrote. Fontainebleau Resorts executives said in April, before the mortgage crisis hit the condo-hotel market, the project expected to raise $700 million to $900 million from condo presales. Additionally, the collapse of financial house Lehman Bros...read more

Las Vegas Sands in danger of default?

LAS VEGAS, Nevada -- The financial health of Las Vegas Sands Corp. took a sudden downturn Thursday when the casino operator told investors it was in danger of defaulting on some of its loans, raising the possibility the company could be facing a date in bankruptcy court. Wall Street analysts, however, cautioned that the language in the company's filing with the Securities and Exchange Commission may have been ordered by auditors...read more