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Howard Stutz Gaming Guru - Page 256LV Sands President and COO quits10 March 2009
LAS VEGAS, Nevada -- Months of mostly behind-the-scenes feuding at Las Vegas Sands erupted into the open Monday with the gaming company announcing that President and Chief Operating Officer Bill Weidner was no longer with the company he has led for almost 14 years.
Weidner, 63, had been feuding with Las ... (read more)
Pinnacle posts fourth-quarter loss9 March 2009
LAS VEGAS, Nevada -- Regional casino operator Pinnacle Entertainment reported a fourth-quarter net loss Friday, but the figure had nothing to do with the company's casino operations.
Despite the challenging economy, Pinnacle's casinos in the South and Midwest increased revenues 18.1 percent in the fourth quarter ended Dec. ... (read more)
MGM Mirage talks collapse with Deutsche Bank6 March 2009
LAS VEGAS, Nevada -- It's back to square one for MGM Mirage.
After discussions with Deutsche Bank collapsed late Wednesday, the cash-strapped casino operator will have to look elsewhere for the final $1.2 billion in financing needed to complete its $9.1 billion CityCenter development.
The news, coupled ... (read more)
Regulators eye another entry for Nevada Black Book6 March 2009
LAS VEGAS, Nevada -- An alleged accomplice of the most recent inductee onto the state's List of Excluded Persons was nominated Thursday to become the 37th entry to the document commonly referred to as the Black Book.
The Gaming Control Board said Michael McNeive, who has a conviction for trying to cheat a ... (read more)
Vegas board backs sale of Treasure Island5 March 2009
LAS VEGAS, Nevada -- Phil Ruffin's return to the casino business cleared its first hurdle Wednesday morning.
The Gaming Control Board took 20 minutes to approve Ruffin's $775 million purchase of Treasure Island from MGM Mirage, sending the matter to the Nevada Gaming Commission for a final ruling on March 19. ... (read more)
MGM Mirage in talks with lenders4 March 2009
LAS VEGAS, Nevada -- MGM Mirage, the Strip's biggest casino operator and the state's largest private employer, could be facing a bankruptcy filing if it can't renegotiate better repayment terms with its lenders covering some $7 billion in loans.
In a filing Tuesday with the Securities and Exchange ... (read more)
Thousands celebrate opening of new Vegas resort2 March 2009
LAS VEGAS, Nevada -- M Resort bartender Edgar Manago had a big smile Sunday night as he poured free drinks for some of the 4,000 guests attending the $1 billion hotel-casino's grand opening party.
Manago, a gaming industry bartender for more than 15 years, had a job for the first time in many months.
... (read more)
Gaming stocks sink to 2003 levels2 March 2009
LAS VEGAS, Nevada -- Gaming stocks sunk to levels during February that have not been visited since President Bush declared "mission accomplished" and Arnold Schwarzenegger was making movies rather than governing California.
The average daily share prices of nine of the 10 casino operators and slot machine ... (read more)
Developer eyes Spanish casino in rural Beatty2 March 2009
BEATTY, Nevada -- Depending on whom you speak with, Ed Ringle is either this rural community's 21st century version of Don Laughlin, or the town's pariah.
Since the early 1980s, Ringle, 57, has operated a casino, hotels and other businesses in Beatty, which is about 118 miles north of downtown Las Vegas. ... (read more)
MGM Mirage borrows from credit2 March 2009
LAS VEGAS, Nevada -- An announcement Friday that MGM Mirage tapped into its revolving line of credit to borrow $842 million for general corporate purposes led three credit rating services to devalue the company's bonds and sent the casino operator's stock price to an all-time low.
In a filing with ... (read more)
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