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Howard Stutz Gaming Guru - Page 274Gaming: Economic woes hurt U.S. casinos15 May 2008
LAS VEGAS, Nevada -- In the 10 years that the American Gaming Association has been tracking the facts and figures produced by the nation's commercial casino industry, gaming revenues have climbed more than 73 percent.
The Washington, D.C.-based lobbying group's leader acknowledged Wednesday, however, that 2008 might be the industry's most challenging year. ... (read more)
The race to break the clouds14 May 2008
LAS VEGAS, Nevada -- One down, five to go.
MGM Mirage officials will top out CityCenter's 57-story Vdara Condo Hotel today. The brief ceremony is something the company plans to repeat several times before the year is out. Vdara is one of six high-rise towers under construction within the massive ... (read more)
Quarterly loss slims for Progressive13 May 2008
LAS VEGAS, Nevada -- Las Vegas casino technology provider Progressive Gaming International Corp. reduced its net loss from a year ago.
Progressive said monday its net loss was $8.4 million, or 11 cents per share, in its first quarter ended march 31, compared with a loss of $8.7 million, or 21 cents a ... (read more)
Bally Technologies triples earnings for Q313 May 2008
LAS VEGAS, Nevada -- Bally Technologies said Monday revenues from its systems division helped it more than triple quarterly earnings from a year ago.
The Las Vegas-based slot maker reported a net income of $30.2 million, or 52 cents per share, for its third quarter ended March 31, up from $6.6 ... (read more)
Statewide gambling win slips 1.52 percent in March12 May 2008
NEVADA -- Make it 3-for-3.
Statewide gaming revenues fell for the third straight month in 2008 with casinos winning 1.52 percent less from gamblers during March than they did a year ago. Strip casinos took a nearly 5 percent hit compared with their results in March 2007. The numbers also marked the fourth ... (read more)
The Strip: The day the muses died?12 May 2008
LAS VEGAS, Nevada -- Did the notion of culture on the Strip die today?
To some, the closing of the Guggenheim Hermitage Museum at The Venetian after its 61/2-year run signals the end of nontraditional, nongambling-type resort amenities.
Others pointed toward the Bellagio Gallery of Fine Arts and ... (read more)
Inside gaming column: MGM Mirage may say 'take two'12 May 2008
MGM Mirage investors may soon be able to double down.
Chairman and Chief Executive Officer Terry Lanni said last week the company might consider splitting its nongaming hotel subsidiary into a separate publicly traded operation.
The idea may sound familiar. In 1998, Hilton Hotels Corp. spun off its ... (read more)
Ameristar Casinos reports quarterly loss9 May 2008
LAS VEGAS, Nevada -- Ameristar Casinos reported a loss Thursday of $77.1 million during the first quarter, blaming a noncash impairment charge of $129 million related to the company's purchase of a riverboat casino in East Chicago, Ind.
The Las Vegas-based casino operator had costs of $1 million ... (read more)
Slot cheat nears Black Book status9 May 2008
LAS VEGAS, Nevada -- The Gaming Control Board took less than 10 minutes Thursday to nominate a convicted slot machine cheat for membership as the 36th name on the state's List of Excluded Persons, commonly referred to as the Black Book.
If the nomination of William Cushing is confirmed at a later ... (read more)
Casinos, teachers discuss tax plan8 May 2008
and Howard Stutz
LAS VEGAS, Nevada -- The state teachers union is in talks with gaming companies about a possible agreement to call off an initiative petition that would raise gaming taxes.
Under the proposed deal being discussed, the tax on hotel rooms would be increased instead, and the new revenue collected put toward schools. ... (read more)
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