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Howard Stutz Gaming Guru - Page 252CityCenter project intended to be completed20 April 2009
LAS VEGAS, Nevada -- Events surrounding financially troubled MGM Mirage are fast becoming the gaming industry's biggest soap opera.
On Friday, hours after the company made a $70 million equity payment to keep construction work continuing on the massive CityCenter development, word surfaced that MGM Mirage ... (read more)
Analysts pleased with Pinnacle20 April 2009
LAS VEGAS, Nevada -- Compared to the competition, regional casino operator Pinnacle Entertainment looks like a relatively safe wager.
The Las Vegas-based company won praise last week from two Wall Street analysts whose opinions were based on results from L'Auberge du Lac in Lake Charles, La., and Lumiere Place in St. ... (read more)
Deutsche Bank drops gaming coverage17 April 2009
LAS VEGAS, Nevada -- Wall Street investment house Deutsche Bank dropped its research coverage of the gaming industry's equity side this week and its Las Vegas-based analysts formed an independent research and advisory firm.
Bill Lerner, who moved Deutsche Bank's equity gaming research office to Las Vegas ... (read more)
Group trying to force MGM into bankruptcy17 April 2009
LAS VEGAS, Nevada -- The former owner of the Stratosphere and a large investor in Cannery Casinos are reportedly trying to force MGM Mirage into bankruptcy.
The Wall Street Journal on Thursday said that corporate raider Carl Icahn and private equity fund Oaktree Capital Management have purchased large ... (read more)
Date set for LV Sands Macau lawsuit15 April 2009
LAS VEGAS, Nevada -- A second lawsuit concerning how Las Vegas Sands Corp. received a Macau gambling license moved closer to the courtroom Tuesday.
A trial date of June 1 has been set in Clark County District Court for three men who are suing the casino company for a breach of contract ... (read more)
Woman wins gigantic $33 million jackpot14 April 2009
RENO, Nevada -- You may have noticed the advertisements along the bottom of Review-Journal section fronts in recent weeks promoting the latest Megabucks jackpot prize.
The jackpot, more than $33 million, hit on Easter Sunday in Sparks at a casino owned by bankrupt Herbst Gaming. It was the second largest ... (read more)
MGM Mirage debt payment delayed14 April 2009
LAS VEGAS, Nevada -- Feuding CityCenter partners MGM Mirage and Dubai World are trying to repair their fractured relationship in an attempt to fund the remaining costs needed to complete the $8.7 billion Strip development.
MGM Mirage said late Monday it will wait until Friday to make a $70 ... (read more)
Net gambling advocates may have to wait13 April 2009
LAS VEGAS, Nevada -- Online gambling proponents may have to wait a little longer for the passage of federal legislation that would legalize betting on the Internet. Congress is tied up with other pressing issues.
Macquarie Securities gaming analyst Joel Simkins told investors not to bet the house on ... (read more)
MGM CEO getting a pay boost13 April 2009
LAS VEGAS, Nevada -- MGM Mirage Chairman and Chief Executive Officer Jim Murren is picking up a little more spending money.
In a filing last week with the Securities and Exchange Commission, the casino operator said it had executed a new employment agreement with Murren, replacing the contract that was expiring in January. ... (read more)
MGM Mirage to sell Biloxi, Detroit resorts7 April 2009
LAS VEGAS, Nevada -- MGM Mirage has officially put the company's resorts in Detroit and Biloxi, Miss., on the market.
The casino operator hired Wall Street investment firm Morgan Stanley to evaluate sales offers for the MGM Grand Detroit and the Beau Rivage, which could fetch the company ... (read more)
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