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Howard Stutz Gaming Guru - Page 311Tropicana staying put2 November 2006
LAS VEGAS, Nevada – On the same day one aging Strip icon was closed, another older casino received a reprieve.
Columbia Sussex Corp. President Bill Yung III told Nevada gaming regulators Wednesday the Tropicana wouldn't be shut down once his company's $2.75 billion buyout of Aztar Corp. is ... (read more)
Herbst Gaming to buy Primm properties1 November 2006
Herbst Gaming has struck an agreement with MGM Mirage to purchase the three casinos in Primm on the Nevada-California border off Interstate 15 for $400 million, sources said late Tuesday.
The deal, which is expected to be announced this morning, will give the privately held Las Vegas based casino company ... (read more)
Buyout bid boosts Harrah's in October, driving index up1 November 2006
A proposed $15.5 billion buyout offer by two private equity groups for Harrah's Entertainment helped to escalate the company's average daily stock price in October.
Other gambling stocks and a gaming index compiled by Las Vegas-based financial consulting firm Applied Analysis benefited, too.
The index, ... (read more)
Pinnacle seeking addition in Gulf1 November 2006
LOUISIANA -- Las Vegas-based Pinnacle Entertainment wants to compete in another Louisiana gambling market and has submitted an application to state gaming regulators to move a shuttered Lake Charles riverboat casino to a new location in Baton Rouge.
If successful, Pinnacle would operate casinos in all ... (read more)
Aztar effort to sell Missouri casino encounters obstacles30 October 2006
A deal by Aztar Corp. to sell its Missouri casino has been halted by that state's gaming commission, but company officials don't believe the decision will delay the casino operator's $2.75 billion buyout by Columbia Sussex Corp.
Aztar, which owns the Tropicana casinos in Las Vegas and Atlantic City, agreed Aug. ... (read more)
Stardust memories: Longtime employees reflect on their happy years at the resort30 October 2006
Stories
Some of the Strip's largest resorts -- The Mirage, Excalibur, Treasure Island, Bellagio, The Venetian, MGM Grand, New York-New York, Paris Las Vegas, Mandalay Bay, Luxor, Monte Carlo and Wynn Las Vegas -- have opened since 1989, enticing workers from competing casinos.
For some longtime ... (read more)
Bally Technologies looks to sell Rainbow Casino27 October 2006
LAS VEGAS, Nevada -- Las Vegas-based Bally Technologies took steps Thursday to cut loose its last operating unit not associated with its core business of gaming equipment manufacturing.
The company, formerly known as Alliance Gaming, asked Credit Suisse Securities to evaluate a sale of the Rainbow Casino in Vicksburg, Miss. ... (read more)
Boyd Gaming's profits miss forecasts27 October 2006
LAS VEGAS, Nevada – Boyd Gaming Corp. executives want Wall Street to view the company's third-quarter earnings as a transition period for the Las Vegas-based casino operator.
With two Strip casinos sold off and a third to shut its doors next week, company leaders tried to present a positive spin ... (read more)
Harrah's paid premium for Barbary Coast land27 October 2006
LAS VEGAS, Nevada – (PRESS RELEASE) -- To acquire the Barbary Coast, Harrah's Entertainment sent the value of Strip land skyrocketing.
The casino operator is paying what amounts to $84.8 million an acre to pick up the 4.3 acre site at the corner of the Strip and Flamingo Road, the last piece of a 350-acre land parcel. ... (read more)
MGM Mirage unveils plans for residences26 October 2006
LAS VEGAS, Nevada – MGM Mirage on Wednesday unveiled plans for residences at the $7 billion Project CityCenter, saying the 66-acre site will include four condominium developments encompassing five high-rise towers.
Units in the development have a price range from $500,000 to $8 million.
... (read more)
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