Featured Articles Archive - Page 644

Interview with Jeffrey Pollack: The 2007 WSOP

Newly hired World Series of Poker Commissioner Jeffrey Pollack didn't have enough time to make his presence fully felt during the scheduling of the 2006 WSOP. Harrah's hired the former NASCAR executive in August of 2005 to manage the explosive, yet wild growth of the WSOP, and do for the felt what he did for the race track...read more

Group to carry on fight

NEW JERSEY AND MACAU -- An upstate New York-based citizens coalition that surfaced on the eve of last week's regulatory hearing into MGM Mirage's joint venture with a Chinese businesswoman in a Macau casino plans to continue its opposition to the relationship as the matter shifts to New Jersey. Meanwhile, Nevada gaming regulators dismissed the 300-page packet of documents provided by the coalition's leader, the Rev...read more

Sahara buyer sees new life for old resort

LOS ANGELES AND LAS VEGAS, Nevada -- Los Angeles entrepreneur Sam Nazarian spent close to three years trying to strike the right casino deal in Las Vegas. But his interests kept returning to the aging Sahara. Nazarian, founder and co-owner of SBE Entertainment Group, said Saturday that the Strip's northern end is bursting with potential, which was the key factor in buying the 55-year-old Moroccan-themed hotel-casino. "There's a tremendous opportunity for this property," said Nazarian, 31, whose company operates hotels, nightclubs, restaurants and a Hollywood film division. "The Sahara is located close to the Las Vegas Convention Center and is going to be surrounded by high-rise condominiums, which will be a great audience for what we plan to offer," Nazarian said...read more

Sahara sold to California businessman

LAS VEGAS, Nevada -- A Hollywood movie producer, restaurateur and nightclub owner has bought the aging Moroccan-themed Sahara, the Review-Journal learned Friday night. Sam Nazarian, through his Los Angeles-based SBE Entertainment Group, agreed to purchase the Sahara from the family of late casino pioneer William Bennett. No purchase price was disclosed, but sources said the transaction was between $300 million and $400 million for the 17.45-acre parcel on the Strip that includes the 1,720-room hotel-casino. John Knott, executive vice president of the Global Gaming Group for CB Richard Ellis, which was retained last year to sell the Sahara, said SBE Entertainment and Stockbridge Real Estate Funds had signed a contract Friday. "They have some tremendous renovation plans for the Sahara, which made them a very compelling buyer," Knott said. Nazarian, whose corporation includes a restaurant business, a trendy nightclub operation, a hotel group, a real estate division and a Hollywood production company, was the youngest executive to be named one of the "Top 100 Most Powerful People in Southern California" by West, the Los Angeles Times' Sunday magazine, last year. In addition to several Los Angeles-area nightclubs, Nazarian's hotel division includes the Ritz Plaza in Miami's South Beach area and the Le Meridien in Beverly Hills, Calif. Nazarian is also a partner in an independent production company, Element Films, which has a nine-picture distribution agreement with Lionsgate...read more

D'Amato to serve as PPA Chairman

Former U.S. Senator Alfonse D'Amato is the Poker Player's Alliance's new chairman of the board, the PPA announced Monday. D'Amato replaces Linda Johnson, the PPA's first chairperson. She will retain a position on the PPA board. The brash and often controversial 69-year old Republican from New York, who served in the U.S...read more

Wasicka wins NBC Heads-Up Poker Championship

Paul Wasicka will no longer face questions about his heads-up strategy. Wasicka, who lost to Jamie Gold in heads-up play in the 2006 World Series of Poker Main Event, beat Chad Brown to claim the 2007 NBC Heads-Up Poker Championship yesterday at Caesar's Palace. Wasicka won $500,000, while Brown won $250,000 for finishing second. Wasicka defeated Nam Le to advance to the semifinal round, then beat actress Shannon Elizabeth to advance to the best -of-three championship match...read more

D'Amato signs with the PPA

Former U.S. Senator Alfonse D'Amato has signed on as a lobbyist for the Poker Player's Alliance, a PPA spokesperson confirmed Monday. The brash and often controversial 69-year old Republican from New York is a staunch poker advocate and plays in a weekly Long Island home game that boasts wins and losses in the thousands, according to a report in the New York Times...read more

Elizabeth defeats Madsen, Greenstein to advance to NBC Heads-Up Elite Eight

LAS VEGAS, Nev. - Actress Shannon Elizabeth, best known for a famous bedroom scene with Jason Biggs in the film American Pie, advanced to the "Elite Eight" of the NBC National Heads-Up Poker Championship last night at Caesar's Palace. Elizabeth defeated Jeff Madsen, who won two World Series of Poker bracelets in 2006, and Barry Greenstein, who owns two WSOP bracelets and has also won two World Poker Tour titles, in the round of 16. Elizabeth will meet Costa Rican professional poker player Humberto Brenes in the Club bracket championship today...read more

No surprise: Pinnacle reports loss of $5 million for quarter

LAS VEGAS, Nevada -- In January, Pinnacle Entertainment warned investors that several factors would affect the company's fourth-quarter earnings. So it wasn't a surprise Thursday when the Las Vegas-based casino operator reported a net loss of $5 million or 10 cents a share during the three-month period that ended Dec...read more

February fade for IGT, Sands drags down index

LAS VEGAS, Nevada -- The stock performance of two gaming companies cast a shadow over the sector in February. The average daily stock prices of casino operator Las Vegas Sands Corp. and slot maker International Game Technology slipped in the month from January, an index compiled by Applied Analysis, a Las Vegas-based financial consultant shows...read more