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Howard Stutz

Kerkorian investment arm moving headquarters to Las Vegas

21 December 2015
Tracinda Corp., the investment arm of late billionaire Kirk Kerkorian, is moving its corporate headquarters to Las Vegas from Los Angeles to be closer to the company's largest holdings, MGM Resorts International. The company owns 16.19% of the Strip gaming giant. Kerkorian, who died June 16 at age 98, left ... (read more)

Sands opens Cotai Central final piece as Adelson predicts Macau turnaround

20 December 2015
Las Vegas Sands Corp. opened the last piece of the Sands Cotai Central development in Macau on Friday, and the company's top executive — despite 18 straight months of the market's declining gaming revenue — said the region has nearly bottomed out. During a celebration surrounding the opening of the $450 million, 400-room St. ... (read more)

Inside Gaming: Wire Act hearing a disaster for online gambling opponents

20 December 2015
The recent congressional hearing into legislation that would ban online gaming couldn't have gone worse for backers of the bill even if they attempted to sabotage the three-hour meeting themselves. Maybe they did. Three witnesses who testified in support of a measure that would roll back the Interstate Federal Wire Act to its pre-2011 interpretation came off as uninformed and unprepared. ... (read more)

Sheldon Adelson's newspaper buy has Nevadans talking, and some fretting

18 December 2015
As a Republican mega-donor who pours millions into campaigns and political action committees, Las Vegas billionaire Sheldon Adelson is already courted by elected officials. Add to that his new status as owner of Nevada's largest newspaper. There is much yet to learn about the group that bought the Las Vegas Review-Journal last week. ... (read more)

Adelson son-in-law orchestrated family's purchase of Las Vegas Review-Journal

17 December 2015
The son-in-law of billionaire casino owner Sheldon Adelson arranged the $140 million purchase of the Las Vegas Review-Journal on Adelson's behalf, sources confirmed Wednesday. Patrick Dumont, who is listed on the website of Las Vegas Sands Corp. as the company's senior vice president of finance and ... (read more)

Aria to get $154 million convention center expansion

17 December 2015
MGM Resorts International will spend $154 million to expand the Aria Resort & Casino convention center by 200,000 square feet, which will include indoor/open-air spaces and a glass-enclosed venue offering views of The Park and the new Las Vegas Arena. The new convention space will take the space currently occupied by Cirque du Soleil's production of "Zarkana," which will close April 30. ... (read more)

GLPI acquires Cannery's Pittsburgh racetrack

17 December 2015
Gaming and Leisure Properties said Wednesday it settled its lawsuit with the owner of the Cannery casinos and acquired Las Vegas-based company's Pittsburgh-area racetrack for $440 million. The real estate investment trust and Cannery Casino Resorts said the transaction could be finalized next year. ... (read more)

Inside Gaming: GOP presidential candidates don't share Adelson's stance on online gambling

16 December 2015
A handful of GOP presidential candidates debating Tuesday at The Venetian Las Vegas clearly missed the memo from their host about supporting his quest to ban Internet gaming. Las Vegas Sands Corp. Chairman Sheldon Adelson is pushing legislation in Congress to restore the Interstate Federal Wire Act to its pre-2011 interpretation. ... (read more)

Plaza's re-emphasis on gaming leads to prosperity

13 December 2015
Plaza Las Vegas CEO Jonathan Jossel often logs on to online message boards where downtown Las Vegas casino customers leave random comments about their experiences. What's even more surprising? Not only does Jossel read the comments and suggestions, but he often replies. Jossel even requires the Plaza Hotel and Casino's hosts to participate and answer the concerns of Plaza visitors. ... (read more)

Inside Gaming: IGT remains part of Nevada even after merger with Italian lottery giant

13 December 2015
Slot machine giant International Game Technology is as much a part of Nevada as the Battle Born motto, bristlecone pine trees, sagebrush and Lake Tahoe. The folks at the former GTECH Holdings understand this. That's one reason why the Italian-based lottery company didn't abandon the Silver State after ... (read more)

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