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Howard Stutz Gaming Guru - Page 294Trump says wait to enter Las Vegas market worthwhile30 May 2007
LAS VEGAS, Nevada -- Las Vegas has held a 20-year fascination for billionaire developer Donald Trump.
But as Strip land values soared into the $20 million to $30 million per acre price range, Trump sat on the sidelines and watched. But then, three years ago, he struck a deal with New Frontier ... (read more)
Labor talks: Casinos, Culinary still lack deal30 May 2007
LAS VEGAS, Nevada -- Contracts covering some 50,000 Strip and downtown hotel-casino workers expire at midnight Thursday and, despite early negotiations and optimistic attitudes, both union representatives and management leaders admit new agreements won't be in place by then.
But don't expect picket lines ... (read more)
Trump celebrates topping-off of tower29 May 2007
LAS VEGAS, Nevada -- New York developer Donald Trump was happy to be topping-off the final floor of the 64-story Trump International Hotel & Tower on Friday morning, some 22 months after breaking ground on the development behind the New Frontier.
But the billionaire builder and reality television ... (read more)
MGM Mirage lauds gains in hiring, contracting24 May 2007
LAS VEGAS, Nevada -- MGM Mirage, for the seventh straight year, extolled the virtues of its corporate diversity initiatives, pointing out continued gains in hiring a multicultural work force while providing increased opportunities for minority and woman-owned businesses to work with the casino ... (read more)
MGM Mirage committee studies bid24 May 2007
LAS VEGAS, Nevada -- Shares of MGM Mirage settled down Wednesday while the company's board of directors appointed a three-person committee to study a move by Tracinda Corp. to acquire two of the company's largest properties.
Tracinda, the privately held investment arm of MGM Mirage majority ... (read more)
Takeover talk sends shares of IGT upward23 May 2007
LAS VEGAS, Nevada -- Slot machine giant International Game Technology on Friday became the latest target of private equity speculation within the gaming industry.
Bloomberg News and several gaming analysts said a run-up in the stock price of the Reno-based gaming equipment supplier was fueled by ... (read more)
CASINO INDUSTRY: Kerkorian bids for key properties22 May 2007
LAS VEGAS, Nevada -- The private investment arm of MGM Mirage majority shareholder Kirk Kerkorian announced Monday it would enter negotiations with the company to buy Bellagio and the under-construction CityCenter development.
Shares of MGM Mirage surged in value in aftermarket trading following the news.
... (read more)
MERGERS AND ACQUISITIONS: They'll make Manhattan17 May 2007
LAS VEGAS, Nevada -- The private ownership group buying the New Frontier plans to spend $5 billion to turn the Western-themed hotel-casino -- best known for $44 a night rooms, bikini bull riding and the Strip's last bingo hall -- into an ultraluxury mixed-use development.
The New York-based Elad ... (read more)
New Frontier workers wistful about casino's closing17 May 2007
LAS VEGAS, Nevada -- Pauline Caruso, who has managed the New Frontier's bingo room for the past 15 years, knew the casino's closing was just a matter of time. But it didn't make Wednesday's news any easier.
As word of the New Frontier's $1.2 billion sale to a New York-based real estate investment ... (read more)
More than $1.2 billion: New Frontier sale sets record16 May 2007
LAS VEGAS, Nevada -- An Israeli-owned real estate investment group, in what is being called the most expensive large-site transaction on the Strip, has bought the New Frontier and its 36 Strip acres for more than $1.2 billion, the casino's current owner, Phil Ruffin, confirmed late Tuesday.
Ruffin ... (read more)
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