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Howard Stutz Gaming Guru - Page 184Closure doesn't sadden Sahara's former owner16 May 2011
Paul Lowden is planning to have one last dinner at the Sahara's famous House of Lords steakhouse tonight. It seems appropriate. Lowden owned the Sahara for 13 years and was responsible for much of its transformation from a small Rat Pack-era hotel-casino into a 1,720-room Strip resort. But the property's closing Monday doesn't make him sad. ... (read more)
Sahara offers last goodbyes after nearly 60 years16 May 2011
In its day, the Sahara was Las Vegas' epicenter. Peter Villalobos would know. For almost 35 years, he manned the Strip hotel's front desk. He watched the parade of celebrities and the pseudocelebrities. He supervised thousands of hotel check-ins for high rollers and want-to-be high rollers. Villalobos ... (read more)
Hong Kong IPO looks promising for MGM16 May 2011
A long-awaited stock offering by MGM Resorts International on the Hong Kong Stock Exchange is close to fruition. It turns out the nearly 18-month wait could be profitable. Analysts originally thought MGM China Holdings, secured by a minority stake in the MGM Grand Macau, would fetch MGM Resorts $300 million to $500 million. ... (read more)
WSOP optimistic for this year's event12 May 2011
LAS VEGAS, Nevada -- The federal government's crackdown on three Internet poker gambling sites and their operators won't hurt participation in the 2011 World Series of Poker tournament, which is scheduled to begin at the end of the month at the Rio All-Suite Hotel & Casino, tournament officials said Wednesday. ... (read more)
Caesars chairman calls for legal online poker11 May 2011
LAS VEGAS, Nevada -- Caesars Entertainment Corp. Chairman Gary Loveman used his company's quarterly earnings conference call Tuesday to rally support for the federal legalization of Internet poker. Loveman and Caesars have long been the casino industry's leading advocates for expansion into online gambling. ... (read more)
Ohio governor proposes controversial gaming tax10 May 2011
COLUMBUS, Ohio -- A controversial gaming tax proposal from Ohio’s new governor could stall construction of four casinos approved by voters in the Buckeye State, including one each in Cincinnati and Cleveland involving Caesars Entertainment Corp.
Any construction delays could also hurt projected sales by Nevada’s largest slot machine manufacturers. ... (read more)
Hong Kong analysts confident on MGM Macau IPO10 May 2011
MACAU -- MGM Resorts International has begun premarketing its initial public offering on the Hong Kong Stock Exchange, which could raise more than $1 billion. Reuters in Hong Kong reported that the pricing for the IPO is expected to be released May 27. On Monday, MGM Resorts filed with the U.S. Securities ... (read more)
MGM Resorts scales back Nevada hotel9 May 2011
LAS VEGAS, Nevada -- MGM Resorts International has scaled back operations at the Gold Strike Hotel & Gambling Hall in Jean, closing a 500-room hotel tower, reducing restaurant and gaming activities, and laying off roughly 60 workers. Company spokesman Alan Feldman said changes at the casino on Interstate 15, about 25 miles south of Las Vegas, are prompted by diminished business levels. ... (read more)
Midwestern, Southern casinos close due to flooding9 May 2011
LAS VEGAS, Nevada -- Rising Mississippi River flood waters shuttered casino operations in several Southern and Midwestern states this week, including properties operated by Nevada gaming companies. Additional closures are on the horizon as flooding by the Mississippi River and its tributaries threaten communities in coming weeks. ... (read more)
IGT moves to acquire Swedish Internet gaming company6 May 2011
LAS VEGAS, Nevada -- Slot machine manufacturer International Game Technology took a step toward expansion into Internet gaming Thursday.
Reno-based IGT has offered $115 million to acquire a Swedish technology company that operates one of the world's largest online poker networks and supplies online gaming products and services to the industry. ... (read more)
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