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Howard Stutz Gaming Guru - Page 306CASINO INDUSTRY: Bounty by the billions5 January 2007
NEVADA –- Nevada's largest hotel-casinos relied less on gamblers than ever before while generating a net income of more than $2.1 billion during fiscal year 2006, the Gaming Abstract, a report issued Thursday by the Nevada Gaming Control Board shows.
The net income figure, based on total revenues of ... (read more)
MERGERS AND ACQUISITIONS: Tropicana gets new ownership4 January 2007
LAS VEGAS, Nevada -- Kentucky-based Columbia Sussex Corp. became the owner of the Tropicana and three other casinos Wednesday after completing a $2.75 billion buyout of Aztar Corp.
The deal, which was initially announced almost eight months ago, gives new life to the 1,880-room Strip icon, although ... (read more)
Another Harrah's exec to resign post4 January 2007
LAS VEGAS, Nevada -- The chief operating officer of Harrah's Entertainment resigned Wednesday, the third corporate executive to leave the Las Vegas-based casino giant this week.
In a two sentence filing with the United States Securities and Exchange Commission, Harrah's said Tim Wilmott, a nearly ... (read more)
Pair of execs exit at Harrah's3 January 2007
LAS VEGAS, Nevada -- Two Harrah's Entertainment executives, including the division president who was overseeing the company's Gulf Coast casinos, have left the Las Vegas-based gaming operator.
But a company spokesman said last month's announced $27.8 billion buyout of Harrah's by two private equity groups ... (read more)
Gaming industry: Gaming stocks rise sharply in '062 January 2007
NEW YORK -- Stock values of the gaming industry's major companies experienced double- and triple-digit increases in their average daily prices compared with 12 months ago, data from December show.
But December also saw the beginning of sea change in control of two large casino operators and hints that ... (read more)
Leaders: Carrying on a legacy2 January 2007
John Boushy joined Ameristar Casinos in August with the idea of learning a new side of the casino industry.
Twenty-seven years in senior executive positions with Harrah's Entertainment showed Boushy gaming from a giant company's perspective. Ameristar would teach him the industry from the view of a ... (read more)
The strip: Slice of the high life2 January 2007
LAS VEGAS, Nevada -- The $24 million sales pavilion for the residential components of MGM Mirage's $7 billion Project CityCenter isn't your average model home community.
The nearly 30,000-square-foot pavilion, which opens today, is on the Strip between New York-New York and Monte Carlo.
With a ... (read more)
Upgrading of Santa Fe cost equivalent of new property28 December 2006
LAS VEGAS, Nevada -- For the money Station Casinos has spent buying and remodeling the Santa Fe since it acquired the northwest Las Vegas property in 2000, the company could have built an entirely new hotel-casino.
That's exactly what took place.
Other than its 200-room hotel tower, not much ... (read more)
Shuffle Master profits slip22 December 2006
LAS VEGAS, Nevada -- Integrating the assets of an Australian slot machine company that it purchased in February buoyed the profits of casino equipment maker Shuffle Master.
The Las Vegas-based company, which ended its fiscal year on Oct. 31, said Thursday its fourth-quarter profit was $4.9 million or ... (read more)
Deals called shift in gaming22 December 2006
LAS VEGAS, Nevada – Phil Satre, who guided Harrah's Entertainment for 25 years, said this week's $27.8 billion buyout of the company by two private equity groups was just another step in the evolution of the gaming industry pioneer.
Satre, who retired as Harrah's chairman in 2005, said other casino ... (read more)
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