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Howard Stutz Gaming Guru - Page 218Harrah's to issue $500 million in notes14 April 2010
LAS VEGAS, Nevada -- Harrah's Entertainment plans to issue $500 million in second priority secured notes that are due in 2018, which will be used to pay down loans that come due over the next two years.
In a statement Tuesday, the casino operator said the offering is subject to several conditions. ... (read more)
Analysts boost prospects for three casino operators14 April 2010
LAS VEGAS, Nevada -- Maybe that 33 percent increase in Strip gaming revenues during February impressed Wall Street.
Analyst Steven Kent of Goldman Sachs and Joe Greff of JPMorgan increased their price target for MGM Mirage Tuesday. Greff also upped his opinion of Wynn Resorts and Las Vegas Sands Corp. ... (read more)
Few condo sales at CityCenter, but analysts satisfied13 April 2010
LAS VEGAS, Nevada -- CityCenter has sold 25 of its 2,400 high-rise condominium units since sales began closing at the end of January.
The figure represents just 1 percent of the $8.5 billion development's residences. To some analysts and investors, the number of condominiums claimed ... (read more)
Nevada gaming revenues jump big in February12 April 2010
LAS VEGAS, Nevada -- The Year of the Tiger had some teeth.
Nevada recorded its first double-digit increase in gaming revenues in almost three years during February, buoyed by results from the customer-rich Chinese New Year holiday and Super Bowl weekend.
Statewide, casinos reported total gaming ... (read more)
Nevada wants gaming industry to pay to regulate12 April 2010
LAS VEGAS, Nevada -- The idea of having the gaming industry pay the costs to regulate and enforce Nevada's gambling laws didn't die in the recent special session of the Legislature.
But Nevada lawmakers want Gaming Control Board Chairman Dennis Neilander to analyze by this summer the ... (read more)
Wynn pulls Philadelphia casino project12 April 2010
PHILADELPHIA, Pennsylvania -- Casino developer Steve Wynn spent more than an hour Monday meeting with the mayor of Philadelphia, touting his plan for what he had said would be the "cutest place we ever built" on a waterfront gaming site along the Delaware River.
Wynn, chairman of ... (read more)
Cosmopolitan of Las Vegas sees high views as a draw12 April 2010
LAS VEGAS, Nevada -- The Cosmopolitan of Las Vegas is not for acrophobes.
From a 40th-floor open-air balcony overlooking the Strip, Cosmopolitan hotel guests are seemingly at eye-level with the Eiffel Tower replica across the street at Paris Las Vegas.
And the Cosmopolitan has 10 ... (read more)
Virgin Atlantic to begin Las Vegas-UK flights in 20117 April 2010
LAS VEGAS, Nevada -- British air carrier Virgin Atlantic announced this morning it will launch twice-weekly service between McCarran International Airport and Manchester in the United Kingdom. The flights will begin in April 2011.
The additional flights will give Virgin Atlantic nine direct flights a week between Las Vegas and England. ... (read more)
Isle of Capri acquires Mississippi casino6 April 2010
VICKSBURG, Mississippi -- Isle of Capri Casinos has acquired the Rainbow Casino in Vicksburg, Miss., from Bally Technologies for $80 million in an all-cash transaction, the companies announced Monday.
The transaction is expected to close by June 30 pending regulatory approval.
Las Vegas-based Bally, a slot machine manufacturer, has owned the Rainbow for 16 years. ... (read more)
Morgan Stanley to sell stake in A.C. casino project5 April 2010
ATLANTIC CITY, New Jersey -- Atlantic City's casino fortunes suffered another body blow on Good Friday.
Late in the day, investment firm Morgan Stanley, the largest owner of the estimated $2 billion Revel Casino project, announced in a filing with the Securities and Exchange Commission ... (read more)
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