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Howard Stutz Gaming Guru - Page 251Wynn may buy back Bellagio29 April 2009
LAS VEGAS, Nevada -- Nine years after selling Mirage Resorts to MGM Grand Corp., Steve Wynn may be looking to buy back some of the Strip properties he originally designed and built.
Wynn, now chairman of the company that owns Wynn Las Vegas and Encore, told Bloomberg News on Tuesday he would ... (read more)
LV Sands might sell Macau casino28 April 2009
LAS VEGAS, Nevada -- Las Vegas Sands Corp. may be considering selling its Sands Macau but would still operate the casino on a lease-back agreement.
The South China Morning Post in Hong Kong cited unnamed sources in a report Monday but didn't name a buyer. The Sands Macau opened in 2004 and marked the ... (read more)
Pinnacle could close Reno casino28 April 2009
LAS VEGAS, Nevada -- Pinnacle Entertainment might close its Reno-area casino unless the property starts turning a profit.
During the company's first-quarter earnings conference call Friday, Pinnacle Chairman and Chief Executive Officer Dan Lee, in response to a question about a quarterly loss at Boomtown ... (read more)
Pinnacle beats analysts' expectations27 April 2009
LAS VEGAS, Nevada -- A day after Penn National Gaming blew away earnings projections, Pinnacle Entertainment backed up Wall Street's thesis that regional gaming markets are showing small signs of recovery.
Pinnacle, which is based in Las Vegas but operates primarily in the South and Midwest, beat ... (read more)
Murren earned more than $3 million in 200827 April 2009
LAS VEGAS, Nevada -- MGM Mirage Chairman and Chief Executive Officer Jim Murren earned more than $3 million in pay during 2008, roughly $5.4 million less than he was compensated in 2007, according a company filing with the Securities and Exchange Commission late Friday.
Murren, who replaced Terry Lanni in ... (read more)
Penn National profits beat expecations24 April 2009
LAS VEGAS, Nevada -- Regional casino operator Penn National Gaming posted a first-quarter profit that exceeded Wall Street's expectations, but the company's infatuation with Las Vegas was still foremost with analysts.
Officials from Wyomissing, Pa.-based Penn National, which operates 19 casinos and racetracks, said the company remains interested in acquiring a Strip casino. ... (read more)
IGT forging ahead despite loss24 April 2009
LAS VEGAS, Nevada -- New International Game Technology Chief Executive Officer Patti Hart knew when she took over the job 23 days ago, the Reno-based slot machine giant was facing challenges.
Casino customers aren't spending much money on gambling. As such, gaming executives are not replacing older slot ... (read more)
Kerkorian wants to sell The Mirage23 April 2009
LAS VEGAS, Nevada -- MGM Mirage founder and majority shareholder Kirk Kerkorian wants to sell The Mirage, believing the Strip casino could fetch a heftier price on the auction block than the company's casinos in Detroit and Biloxi, Miss.
The New York Post, citing unnamed sources, wrote today ... (read more)
LV Sands, Wynn alter credit pacts22 April 2009
and Arnold M. Knightly
LAS VEGAS, Nevada -- Casino operators Las Vegas Sands Corp. and Wynn Resorts Ltd. recently took steps to amend how the companies borrow money from their credit facilities.
The moves could help Wynn and Sands fend off the financial turmoil that has befallen much of the ... (read more)
WMS Industries posts increases22 April 2009
LAS VEGAS, Nevada -- Resurgent slot machine maker WMS Industries recorded increases in both revenues and earnings in its third quarter despite the economic downturn that has zapped sales by gaming equipment rivals.
"Our operating execution is outpacing the challenging environment and is driven by the ... (read more)
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