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Howard Stutz Gaming Guru - Page 281Commission green-lights Sahara remodeling plan25 February 2008
NEVADA -- Clark County commissioners this week approved remodeling plans for the Sahara, which would include a new high-rise hotel tower and the demolition of the property's older mid-rise tower.
No price has been given for the makeover, which is conceptual, according to a spokesman for SBE Entertainment Group, the operating partner of the Sahara. ... (read more)
Sale of CityCenter stake gives MGM Mirage a boost22 February 2008
LAS VEGAS, Nevada -- A $1 billion cash infusion from its joint venture partner gave MGM Mirage's fourth-quarter earnings a boost.
The casino operations giant completed the sale of half of its massive under-construction CityCenter development to Dubai World during the quarter that ended Dec. ... (read more)
Storms, building delays lead to dip in earnings for Ameristar Casinos21 February 2008
LAS VEGAS, Nevada -- Ameristar Casinos told investors Wednesday that adverse economic conditions, winter storms and unintended delays in building projects hurt the company's fourth-quarter earnings.
Earlier in the day, the Las Vegas-based gaming operator received news that could hinder future ... (read more)
Progressive looks ahead despite $13.7 million loss20 February 2008
LAS VEGAS, Nevada -- Progressive Gaming International Corp. turned the page on 2007 on Tuesday. Company officials were more interested in discussing the future during their quarterly earnings release instead of dwelling on the past.
The Las Vegas-based company, which spent the last year transforming ... (read more)
Tender offer from MGM Mirage close to 102 million shares18 February 2008
LAS VEAGS, Nevadda -- MGM Mirage investors tendered almost 102 million shares of the company's stock after the casino and joint-venture partner Dubai World offered to buy up to 15 million shares at $80 a share.
The company said Friday it would repurchase the shares on a prorated basis. The final ... (read more)
Wynn Resorts posts profit13 February 2008
LAS VEGAS, Nevada -- Wynn Resorts Ltd. showed its reliance on the Macau gambling market Tuesday.
Buoyed by results from its expanded Wynn Macau casino, Wynn Resorts said its fourth-quarter net income was $65.5 million, or 57 cents a share, for the period ended Dec. 31. A year ago, Wynn Resorts lost $55.4 million, or 55 cents a share. ... (read more)
Louisiana approves Pinnacle project12 February 2008
LOUISIANA -- Voters in Baton Rouge, La., gave casino operator Pinnacle Entertainment approval over the weekend to move one of the company's riverboat gaming licenses from Lake Charles to the state's capital city.
The positive vote came despite a heated and often bitter campaign, fueled by two rival ... (read more)
MGM Mirage offers preview of earnings8 February 2008
LAS VEGAS, Nevada -- MGM Mirage told investors Thursday the company expects to report earnings per share of $2.70 to $2.90 when it formally releases its fourth-quarter earnings this month.
The announcement, made after the close of trading on the New York Stock Exchange, was done because MGM Mirage ... (read more)
WMS Industries has profit slump7 February 2008
LAS VEGAS, Nevada -- Slot machine maker WMS Industries said Wednesday that its net income jumped 31 percent in the second quarter.
The Waukegan, Ill.-based gambling equipment company said it had net income of $16 million, or 27 cents per share, for the three-month period ended Dec. 31, compared with ... (read more)
California vote has slot giants grinning7 February 2008
LAS VEGAS, Nevada -- Nevada's largest slot manufacturers said Wednesday they are ready to fire up the assembly lines after California voters approved a gambling expansion that could add up to 17,000 machines at four of the Golden State's largest Indian casinos.
Gaming analysts speculated that between 6,000 and 10,000 of the slot machines could be shipped over the next 12 months. ... (read more)
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