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Howard Stutz Gaming Guru - Page 312Las Vegas casinos spark Harrah's jump26 October 2006
LAS VEGAS – Try as they might, analysts couldn't get Harrah's Entertainment executives to comment on its proposed $15.5 billion buyout offer from two private equity firms when the casino operator announced its third-quarter earnings Wednesday morning.
Harrah's, the gaming industry's largest casino company, grew revenue to $2.5 billion in the three-month period that ended Sept. ... (read more)
Ameristar quarterly profits rise26 October 2006
LAS VEGAS, Nevada -- Ameristar Casinos' third-quarter earnings announcement Wednesday was anticlimatic.
On Oct. 5, the Las Vegas-based casino operator said its results for the quarter that ended Sept. 30 would be much higher than previously predicted. The announcement sent the company's stock price up more than 13 percent that day.
... (read more)
Making a point25 October 2006
The corporate gaming world didn't suit Michael Gaughan's tastes.
But this morning, he gets to be his own boss again.
Gaughan, who built Coast Resorts into a locals' casino giant before selling the business to Boyd Gaming Corp. for $1.3 billion two years ago, takes over as sole owner and operator of the 10-month-old South Coast. ... (read more)
IGT adding to slot games24 October 2006
RENO, Nevada -- Slot machine giant International Game Technology took the initial steps Monday to enter the electronic table game business with plans to develop blackjack and roulette tables that don't require the presence of a dealer.
Reno-based IGT, the gaming industry's largest slot maker, said it was ... (read more)
London Clubs stakeholder takes new Harrah's bid23 October 2006
Harrah's Entertainment, two days after extending a deadline for shareholders in London Clubs International to accept a buyout offer, sweetened the deal late Friday to the British casino operator's largest stockholder -- an offer the stockholder accepted.
Las Vegas-based Harrah's said in a statement that a ... (read more)
Aztar investors approve sale to Columbia Sussex18 October 2006
PHOENIX, Arizona -- Shareholders on Tuesday approved a $2.75 billion buyout of the Tropicana's parent company.
In a special meeting in Phoenix, shareholders of Aztar agreed to sell all outstanding shares of the company to Kentucky-based Columbia Sussex Corp. for $54 a share.
The deal, which is pending ... (read more)
MGM Mirage selling two Laughlin casinos17 October 2006
LAUGHLIN, Nevada -- MGM Mirage struck a deal to unload its two Laughlin casinos Monday to a group headed by the son of casino building pioneer Tony Marnell.
The side-by-side Colorado Belle and Edgewater, which MGM Mirage acquired as part of its $7.9 billion buyout of the Mandalay Resort Group 17 ... (read more)
Civil rights litigation: EEOC lawsuit takes circuitous course16 October 2006
LAS VEGAS, Nevada -- A civil rights discrimination lawsuit against the Golden Nugget, filed this month in Las Vegas federal court by the Equal Employment Opportunity Commission, took almost three years to document, and during that time the downtown casino has had three different owners.
The lawsuit ... (read more)
Development: The next wave16 October 2006
LAS VEGAS, Nevada -- When Wynn Las Vegas was unveiled 17 months ago, the opening of the $2.7 billion resort triggered a slew of announcements about other potential Strip projects.
A collection of hotel-casinos, residential high-rise and mixed-use developments have been proposed along the Strip, from the ... (read more)
Casinos' diversity efforts improving, panelists say13 October 2006
LAS VEGAS, Nevada -- If there was a diversity-related figure that jumped out at the audience attending Thursday morning's joint breakfast meeting for members of the Latin, Urban and Asian chambers of commerce, it came from the session's last-minute substitute speaker.
MGM Grand President Gamal Aziz, ... (read more)
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