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Howard Stutz Gaming Guru - Page 258Penn National still interested in Strip property9 February 2009
LAS VEGAS, Nevada -- Casino operator Penn National, which quashed rumors last month that it was buying The Mirage, said Thursday it was still interested in owning a casino on the Strip.
During a conference call with analysts and investors, Penn National Chairman and Chief Executive Officer Peter Carlino said prices were too high.
... (read more)
Wynn gets praise for cuts5 February 2009
LAS VEGAS, Nevada -- Not surprisingly, Wall Street lauded plans by Wynn Resorts Ltd. to reduce expenses by $75 million to $100 million annually at Wynn Las Vegas and the recently opened $2.3 billion Encore.
The casino operator said Tuesday it will cut salaries, trim workweeks and suspend 401(k) ... (read more)
Bally Technologies posts record quarter4 February 2009
LAS VEGAS, Nevada -- Slot machine maker Bally Technologies said Tuesday it had a record second quarter despite the economic slowdown that has broadly affected the gaming industry.
Bally Chief Executive Officer Richard Haddrill called the three months ended Dec. 31 the most profitable in the Las ... (read more)
Shuffle Master to replace CEO3 February 2009
LAS VEGAS, Nevada -- After an 18-month search, gambling equipment provider Shuffle Master announced Monday that veteran casino executive Tim Parrott would replace Chief Executive Officer Mark Yoseloff in March.
Yoseloff, 61, who stepped down as the Las Vegas-based gaming company's chairman of the board ... (read more)
Moody's downgrades MGM Mirage debt3 February 2009
LAS VEGAS, Nevada -- Moody's Investors Service today downgraded casino operator MGM Mirage $7.8 billion debt load Tuesday, believing that the company's earnings in 2009 will fall below previously anticipated results.
Moody's, in reducing the company's corporate family rating to B1 Ba3, said the recession ... (read more)
Developer hopes M is magnetic2 February 2009
LAS VEGAS, Nevada -- From the top floor of the M Resort, Anthony Marnell III has a commanding view of the neighborhood.
In preparation for the property's March 1 opening, construction crews worked last week to build out the interiors of Veloce Cibo, M Resort's 16th floor trendy restaurant ... (read more)
IGT to lay off 20029 January 2009
LAS VEGAS, Nevada -- Slot machine maker International Game Technology told its work force Thursday it would lay off about 200 manufacturing-related employees.
IGT's manufacturing functions are based mainly in Reno with some activities in Las Vegas.
This is the second round of staff reductions for the slot machine giant. ... (read more)
Nevada Gaming Control Board facing budget cuts29 January 2009
LAS VEGAS, Nevada -- State gaming regulators could be forced to slow casino audits and curtail law enforcement functions if legislators approve a 15 percent reduction in the agency's operating budget that has been proposed by Gov. Jim Gibbons.
Gaming Control Board Chairman Dennis Neilander said the ... (read more)
Strip's resort boom fizzles in economy26 January 2009
LAS VEGAS, Nevada -- Wynn Resorts Ltd.'s glimmering $2.3 billion Encore opened on Dec. 22. Visitors gawked at the features and locals marveled at the lavish interiors. Analysts saluted the newest Strip megaresort.
Las Vegas is always about the newest and latest. So what's next on the menu, they all ... (read more)
Inside Gaming: Boyd expanding riverboat casino26 January 2009
LAS VEGAS, Nevada -- Boyd Gaming Corp. officials hope a $130 million hotel expansion at its Blue Chip riverboat casino will keep Chicago residents from traveling 10 miles farther north on U.S. Highway 12.
The Blue Chip is in Michigan City, Ind., about 60 miles east of Chicago. However, the casino was ... (read more)
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