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Howard Stutz Gaming Guru - Page 260Recreational bettors staying away from Vegas5 January 2009
LAS VEGAS, Nevada -- My brother Craig has a business partner we'll call Uncle Steve.
Uncle Steve has a love affair with Las Vegas. But lately, the romance has soured.
The grim economy has played havoc with the Southern California real estate market, Uncle Steve's primary source of income. The stock market's downturn has shrunk his portfolio. ... (read more)
Gambling companies look to turn the page in 20092 January 2009
LAS VEGAS, Nevada -- Good riddance 2008.
The average daily share prices of most of the major publicly traded casino operators and slot machine makers ended the year on a positive note. Companies such as MGM Mirage, Penn National Gaming and Pinnacle Entertainment showed upticks during December.
However, ... (read more)
Gaming Control Board gets new member2 January 2009
LAS VEGAS, Nevada -- Technology company owner Mark Lipparelli was named late Wednesday to the three-member Gaming Control Board by Gov. Jim Gibbons.
Lipparelli, 43, who lives in Las Vegas, spent four years as an executive vice president at Bally Technologies and two years as president and vice president of Shuffle Master. ... (read more)
Inside gaming: Sands turns page on miserable year29 December 2008
LAS VEGAS, Nevada -- No one on the Strip is happier to see 2008 end more than Sheldon Adelson. The past 12 months have not been the best of times for the 75-year-old billionaire chairman and CEO of Las Vegas Sands Corp.
Let's recap 2008, in no particular order.
Adelson began the year as America's third-richest person, according to Forbes magazine. ... (read more)
Wynn feels confident on eve of Encore opening22 December 2008
LAS VEGAS, Nevada -- Encore will open Monday in the middle of the worst economic crisis to ever impact the gaming industry. Through October, Las Vegas casino revenues are down 8.7 percent while visitation is off 3 percent.
So, is Wynn Resorts Ltd. Chairman and Chief Executive Officer Steve ... (read more)
INSIDE GAMING: MGM Mirage has same cause despite change22 December 2008
LAS VEGAS, Nevada -- If the business community thinks it will have an easier ride in the upcoming legislative session following the retirement of Terry Lanni, they are sorely mistaken.
New MGM Mirage Chairman and Chief Executive Officer Jim Murren is just as committed and passionate as his predecessor ... (read more)
THE STRIP: CityCenter to begin hiring process19 December 2008
LAS VEGAS, Nevada -- CityCenter will on Jan. 5 begin filling more than 12,000 jobs for MGM Mirage's $9.1 billion CityCenter project.
But Bill McBeath, president of Aria, CityCenter's 4,000-room hotel-casino centerpiece, isn't viewing the task with apprehension. He said the company expects to ... (read more)
Ruffin itching to get back on Strip16 December 2008
LAS VEGAS, Nevada -- Phil Ruffin said he was bored.
The Wichita, Kan., businessman, who sold the now demolished New Frontier 19 months ago for $1.2 billion, had an itch to get back into the casino business.
It took him just three weeks to negotiate a $775 million purchase of Treasure Island from MGM Mirage. ... (read more)
Treasure Island deal set15 December 2008
LAS VEGAS, Nevada -- Former New Frontier owner Phil Ruffin is buying the Treasure Island from MGM Mirage for $775 million, sources confirmed Sunday night. The deal is expected to be announced today.
Ruffin, a Wichita, Kan., businessman, sold the New Frontier in May 2007 for more than $1.24 billion to Elad Group. ... (read more)
LV Sands to lay off more than 20012 December 2008
LAS VEGAS, Nevada -- Las Vegas Sands Corp. plans to lay off 216 workers from the Venetian and Palazzo resorts today, a company spokesman confirmed late Thursday evening.
The job reductions, part of an overall effort by the financially troubled gaming company, will cover about 2 percent of ... (read more)
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