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Howard Stutz Gaming Guru - Page 206McCarran passenger count declines yet again24 August 2010
LAS VEGAS, Nevada -- Passenger counts at McCarran International Airport declined for the sixth straight month in July while airline upheaval helped Las Vegas-based Allegiant Air crack the airport's top five air carrier list for the first time.
According to figures released Monday by the Clark County ... (read more)
Aqueduct long shot looks golden23 August 2010
NEW YORK, New York -- If this were a horse race, long shot Genting would have come from the back of the pack for a six-length victory with New York holding the winning ticket. Ten days ago, New York gave the subsidiary of Malaysian-based Genting, operators of Resorts World Sentosa in Singapore, the right to ... (read more)
Moody's boosts ratings for Las Vegas Sands23 August 2010
LAS VEGAS, Nevada -- Moody's Investors Service boosted its ratings on bonds covering Las Vegas Sands Corp., two days after the casino operator announced plans to repay $1 billion in debt and extend the due dates of 75 percent of its loans.
In a report, Moody's said Las Vegas Sands took steps to that ... (read more)
Nevada resort might face sale17 August 2010
HENDERSON, Nevada -- The future ownership of the 17-month-old M Resort is unclear after the bank controlling $700 million of the hotel-casino's debt put its stake up for a private auction sale last month. Sources confirmed that Lloyds Banking Group, which includes the Bank of Scotland, had Blackstone Group, a global investment firm, solicit bids for the ownership of the 390-room M Resort. ... (read more)
Station Casinos suffers $69.6 million net loss17 August 2010
LAS VEGAS, Nevada -- Station Casinos suffered a $69.6 million net loss in the second quarter as revenues in the locals gaming market continued to tumble.
The company, which took a major step earlier this month toward emerging from bankruptcy with all its properties intact, said Monday the loss for the ... (read more)
Station, Boyd feud is real and compelling16 August 2010
LAS VEGAS, Nevada -- The gaming industry is fraught with feuds, real and perceived.
For example, Steve Wynn versus Sheldon Adelson or Sheldon Adelson versus anyone who disagrees with him.
A dispute between Boyd Gaming Corp. and Station Casinos executives, however, is real.
Boyd's attempt to insert itself in Station Casinos' bankruptcy inflamed the situation. ... (read more)
MGM Mirage pays more CityCenter subcontractors16 August 2010
LAS VEGAS, Nevada -- CityCenter developer MGM Resorts International has settled overdue payments with 77 of the 233 subcontractors left holding the bag when the casino operator and general contractor Perini Building Co. began trading charges publicly and through court documents over who was to blame for problems with the $8.5 billion Strip project. ... (read more)
Analyst questions Harrah's motives for regulatory filing16 August 2010
LAS VEGAS, Nevada -- A regulatory filing by Harrah's Entertainment to publicly list a billionaire investor's 9.9 percent stake in the company could test the waters for the privately-held casino operator's own initial public offering.
KDP Investment Advisors bond analyst Barbara Cappaert told clients ... (read more)
Bally Technologies sees net profit increase 54 percent13 August 2010
LAS VEGAS, Nevada -- Slot machine maker Bally Technologies said Thursday its net profit increased 54 percent in the fourth quarter thanks to the sale of its casino in Mississippi. Las Vegas-based Bally said its net income in the three-month period that ended June 30 was $51 million, or 89 cents per share. ... (read more)
Miami group envisions $2 billion Vegas product9 August 2010
LAS VEGAS, Nevada -- The Miami-based Peebles Corp. has acquired a majority stake in a small hotel-casino on Paradise Road that gives the company some 20 acres for future development near the Las Vegas Convention Center. R. Donahue Peebles, the chief executive officer of Peebles Corp., said the site will eventually house the Las Palmas Resort & Casino, a planned $2 billion project. ... (read more)
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