Featured Articles Archive - Page 709

MGM Mirage Board Member Indicted in Wiretap Scheme

NEVADA -- A longtime board member of MGM Mirage who is a personal attorney and 35-year confidant of the casino company's primary stockholder, billionaire Kirk Kerkorian, was indicted Wednesday in Los Angeles for his alleged role in an illegal wiretapping scheme involving Hollywood celebrities and executives that already has ensnared nine others. Terry Christensen, 65, of Beverly Hills, was charged with one count of conspiracy and one count of intercepting wire communications...read more

Aztar Releases Tropicana Plans

LAS VEGAS -- Aztar Corp. spelled out in basic detail Wednesday plans for a $1.2 billion hotel-casino that would replace the Tropicana. The only question left unanswered is if the company will actually build the development. Phoenix-based Aztar wants banks to finance the proposed project...read more

Adelson Sells LV Sands Shares

LAS VEGAS -- Las Vegas Sands Corp. Chairman Sheldon Adelson could realize more than $2.2 billion once he sells almost 43 million shares of company stock by the end of March. And, when completed, Adelson will still retain control of more than 63 percent of Las Vegas Sands. The casino operator announced late Tuesday it had registered with the Securities and Exchange Commission to allow Adelson, several Adelson family trusts, company executives and company board members to sell a combined 55 million shares in a secondary stock offering. The sale will reduce Adelson's current 75.3 percent majority control of Las Vegas Sands. In a statement, the company said the shares were being sold by the stockholders and Las Vegas Sands would not receive any proceeds from the offering. No sale price was given and the offering is expected to close by the end of March. Based on Wednesday's $52.02 closing price of Las Vegas Sands stock, the value of Adelson's stock offering was more than $2.2 billion...read more

Harrah's Ready to March Back In

NEW ORLEANS -- Watching from the sidelines, Harrah's Entertainment executives could only look on during the past five months as its New Orleans competitors raked in gaming revenue from recreation-starved residents and hurricane recovery workers. Early Friday morning, Louisiana's largest casino gets back into the game. Harrah's New Orleans will reopen shortly after midnight today after being closed since Aug...read more

Earnings: Las Vegas Sands' Earnings Increase

Revenue and profit rose in the last three months of 2005 for Las Vegas Sands Corp., fueled by free-spending Chinese customers at the company's gambling palace in Macau, the casino operator said Tuesday. Las Vegas Sands, which also operates The Venetian, said net income in its fourth quarter, ended Dec...read more

Shoot Hoops, Bowl Strikes, Spin Tunes, All in Your Place at the Palms

LAS VEGAS, Nevada -- With amenities ranging from a half-court hardwood basketball court to regulation-size bowling lanes to an authentic nightclub-style disc jockey booth, 11 uniquely designed suites inside the Palms' hotel tower expansion are built for entertainment. They're also designed to generate revenue. The question, however, is will Palms owner George Maloof get enough use out of the suites to justify their investment, which he hinted was at least seven to eight figures each. Even Maloof sometimes wonders if he can fill the suites more than just on weekends. "This is the crown jewel and I could probably get more use of it," Maloof said of the 10,000-square-foot two-level Hardwood Suite, which contains the basketball court complete with working scoreboard, two master bedrooms, a locker room and customized party service. "But I've kept it going to extreme high rollers and someone who writes a big heck," Maloof said. The suites, which have been open since December, are part of the still-under-construction, $250 million, 40-story Fantasy Tower...read more

Casino Development: Boyd Plans For Northeast Las Vegas

Boyd Gaming Corp. announced Monday it would spend $35 million to purchase a 40-acre parcel in North Las Vegas, an indication of the company's belief that the area may house the next wave of casino development in the Las Vegas Valley. The company said it didn't have a timetable for building on the casino-approved site, located on the southwest corner where Lamb Boulevard intersects with Centennial Parkway...read more

This Lady is Ready for a Makeover

On Friday morning, some 36 hours before it officially closes for a yearlong remodeling, the Lady Luck already appeared shuttered. The vast majority of the downtown casino's 700 slot machines sat vacant; one player was tossing dice at the floor's only open craps table...read more

MGM Wants Partner Approved

LAS VEGAS -- MGM Mirage has filed an application seeking Nevada gaming regulators' approval of its partner in a $975 million hotel-casino under construction in the Chinese gaming community of Macau. The world's second-largest casino company is seeking to have Pansy Ho, who was granted a subconcession by the Macau government to develop and operate a hotel-casino in the growing gaming jurisdiction, found suitable as its partner. MGM Mirage said in April it would open the 600-room MGM Grand Macau in 2007 as a 50-50 joint venture with Pansy Ho...read more

Rebecca's Recommendations - February 9, 2006

Welcome back to Rebecca's Recommendations. I am happy to say that I have FINALLY recovered from my week of madness in St. Thomas and London. Now I need to prepare myself for a trip to Amsterdam in April, the next online gaming show I will be attending...read more