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Howard Stutz Gaming Guru - Page 250Sands suffers quarterly net loss6 May 2009
LAS VEGAS, Nevada -- Las Vegas Sands Corp. officials said Tuesday the company will plow ahead with the business plan it implemented in November despite suffering a first-quarter net loss of $34.6 million.
The operator of The Venetian and Palazzo on the Strip and two resorts in Macau said the net loss ... (read more)
CityCenter hotels booking rooms5 May 2009
LAS VEGAS, Nevada -- Last week's multibillion-dollar financial deal that saved CityCenter was good for advance bookings at the $8.5 billion complex.
MGM Mirage Chief Design and Construction Officer Bobby Baldwin, who also serves as the president and chief operating officer of CityCenter, said ... (read more)
MGM Mirage sees stability5 May 2009
LAS VEGAS, Nevada -- No one was surprised that MGM Mirage reported a decline in net earnings during the first quarter.
That was old news.
Wall Street wanted to know Monday if business at MGM Mirage's nine Strip resorts was picking up.
Less than a week after a deal to save the $8.5 billion CityCenter ... (read more)
Colorado beckoning casino workers4 May 2009
LAS VEGAS, Nevada -- Mark Wexler hasn't worked as a table games dealer since November, when the tanking Southern California economy eliminated his job at the Pechanga Casino in Riverside County.
Wexler, who spent 17 years dealing table games and working as a floor supervisor on the Strip, said he can't find a dealing job in Las Vegas because casinos aren't hiring. ... (read more)
Murren rounds bases but isn't home4 May 2009
LAS VEGAS, Nevada -- MGM Mirage Chairman and Chief Executive Officer Jim Murren spent months negotiating a multibillion-dollar financial rescue plan for the troubled CityCenter.
He held around-the-clock talks with officials from banks located in four different time zones. He soothed relations ... (read more)
Macau gaming revenues down 8.5 percent4 May 2009
MACAU -- As some of the biggest gaming companies prepare to release first quarter revenue reports, word came from Macau this morning that the global recession continues to impact the Chinese gambling market.
Portuguese-language media is reporting that Macau gaming revenues in April decreased 8.5 percent to just above $1 billion.
... (read more)
MGM not in the clear just yet1 May 2009
LAS VEGAS, Nevada -- MGM Mirage may have rescued its massive CityCenter development from a potential bankruptcy, but saving the company from a similar fate is another matter.
That was the assessment of Wall Street a day after the casino operator and its joint venture partner, Dubai World, agreed ... (read more)
Gaming stocks show gains in April1 May 2009
LAS VEGAS, Nevada -- For the first time since August, gaming stocks collectively took a positive turn.
The 10 casino operators and slot machine manufacturers charted by Las Vegas-based financial consultant Applied Analysis all showed double-digit increases in their average daily stock prices over their ... (read more)
Funding agreement reached in CityCenter project30 April 2009
LAS VEGAS, Nevada -- MGM Mirage and Dubai World ended a 5-week-old public feud Wednesday by agreeing to a comprehensive plan to fully fund and complete the $8.5 billion CityCenter development.
The agreement between the 50-50 joint venture partners ends speculation that CityCenter, one of the ... (read more)
Ameristar Casinos has double-dose of good news30 April 2009
LAS VEGAS, Nevada -- Ameristar Casinos gave investors a double-dose of good news Wednesday.
The Las Vegas-based regional casino operator reversed a first-quarter loss by increasing net income and earnings per share during the three-month period that ended March 31. Also, a quarterly cash dividend for ... (read more)
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