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Featured Articles Archive - Page 532
Articles by Howard Stutz
![]() MGM Mirage chief retiring at end of the month14 November 2008
LAS VEGAS, Nevada -- MGM Mirage Chairman and Chief Executive Officer Terry Lanni will retire from the casino operator on Nov. 30 and has recommended that he be replaced by the company's chief operating officer, Jim Murren.
The MGM Mirage board of directors has to approve the executive changes, possibly by next week...read moreArticles by Howard Stutz
![]() Herbst Gaming faces tough choice13 November 2008
LAS VEGAS, Nevada -- Herbst Gaming has until Dec. 3 to accomplish one of two tasks -- pay its bondholders more than $846.8 million or come up with a restructuring plan for the company's debt payments. Otherwise, the Las Vegas-based company will probably end up in bankruptcy court.
Herbst, which operates 15 casinos in Nevada and the Midwest and a 7,200-machine Nevada slot route business, said in March it was facing bankruptcy unless it could restructure the company's $1.2 billion debt...read moreBanks given until Dec. 1, 2009 to comply with UIGEA12 November 2008 Breaking news: The U.S. Department of Treasury and Federal Reserve
announced a joint rule Wednesday to implement and enforce the Unlawful
Internet Gambling Enforcement Act. The rule relies on financial
institutions performing due diligence on corporate customers to ensure
they're not processing online gambling transactions...read moreBack from London and Stockholm…minus an umbrella, phone (not mine, thank god) and 20 years off my life.12 November 2008
Casinomeister birthday party
Wow is all I can say. Casinomeister, can you turn 50 again please? Amazing birthday party, great GPWA conference, ridiculous dinner with RaketheRake.com, crazy times at Mahiki, even more adventures in Scandinavia (part 3), and roughly 10 hours of sleep...read moreArticles by Howard Stutz
![]() Las Vegas Sands outlines recapitalization plan12 November 2008
LAS VEGAS, Nevada -- Las Vegas Sands Corp. on Tuesday unveiled details of its $2.14 billion capitalization plan to right the company's financial woes, but a regulatory filing shows there may be deeper problems at the casino company.
The company will receive a $525 million investment from the family of Chairman and Chief Executive Officer Sheldon Adelson and will also sell $1.62 billion in additional shares to avoid defaulting on several loans and to fend off the possibility of bankruptcy.
However, in the company's 10-Q filing Monday with the Securities and Exchange Commission, Las Vegas Sands told investors that there is conflict between Adelson and members of the senior management team.
According to the passage, there has been "a loss of confidence" by certain senior management members in the management of the company...read moreArticles by Howard Stutz
![]() Sands suspends construction in Vegas and Macau11 November 2008
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 moreEastgate locks up 2008 WSOP crown11 November 2008 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 moreWSOP final table heads-up notebook11 November 2008 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 moreTop-10 memorable moments from the WSOP Main Event final table10 November 2008 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 moreWSOP final table down to Demidov-Eastgate10 November 2008 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 |
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