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Howard Stutz Gaming Guru - Page 46Vegas tourist numbers could hit 41 million in 201431 December 2014
LAS VEGAS -- Las Vegas visitor volume grew 1.4 percent in November, but it seems like a moot point. Earlier this month, the Las Vegas Convention and Visitors Authority said a record-breaking 40 million tourists would come to Southern Nevada this year, toppling a record that has stood since 2012. November just reinforced that prediction. ... (read more)
Inside Gaming: The shape of things to come for Caesars31 December 2014
LAS VEGAS -- Caesars Growth Partners was never built for the long haul. But even creators of the company that is 58 percent owned by Caesars Entertainment Corporation might have been hard-pressed to predict the business would have a lifespan of less than two years. It’s abundantly clear Caesars Growth ... (read more)
Caesars says 39 percent of creditors agree to restructuring plan30 December 2014
LAS VEGAS -- Caesars Entertainment Corporation on Monday said more than 39 percent of its creditors have agreed to a restructuring plan that will eliminate some $10 billion of the casino company’s overall debt through a bankruptcy process and other financial methods. In a filing with the Securities and ... (read more)
INSIDE GAMING: Deconstructing the Harmon Hotel mess29 December 2014
LAS VEGAS -- On paper, it appeared MGM Resorts International lost the construction defect lawsuit over CityCenter’s mistake-riddled Harmon Hotel. The reality is the casino giant won the war by making this 4-year-old legal mess go away. As 2014 draws to a close, MGM Resorts is on an upswing. Analysts view ... (read more)
Nazarian issues apologies, and gaming regulators OK limited license19 December 2014
LAS VEGAS -- SLS Las Vegas Hotel & Casino part-owner Sam Nazarian apologized for everything Thursday at the Nevada State Gaming Commission. He said he was sorry for past dealings with Derrick Armstrong, a convicted felon from Los Angeles who allegedly extorted $3 million from him by threatening his family and SBE employees. ... (read more)
Nevada Gaming Commission OKs $1.73B Cosmopolitan sale19 December 2014
LAS VEGAS -- The Cosmopolitan of Las Vegas could be under new management as soon as Friday. The Nevada State Gaming Commission Thursday signed off on the $1.73 billion purchase of Strip resort by Blackstone Real Estate Partners VII, a division of New York City-based Blackstone Group, a multinational private equity investment fund. ... (read more)
Gaming regulators approve buyout of Multimedia Games by Global Cash Access19 December 2014
LAS VEGAS -- The $1.2 billion buyout of slot machine maker Multimedia Games, Inc. by Global Cash Access was approved Thursday by the Nevada Gaming, which allowed the transaction to clear its final regulatory hurdle. Global Cash Access provides casinos with ATMs, point-of-sale and debit-card transactions and offers slot-machine ticket redemption and jackpot kiosks. ... (read more)
SEC filing: Perini to receive approximately $189.5 million on lien claims18 December 2014
LAS VEGAS -- Tutor Perini Corp., the general contractor behind CityCenter and a party in a massive construction defect case involving the development’s Harmon Hotel, said Wednesday it would receive “total net settlement proceeds” of approximately $189.5 million on its lien claims. None of the lawsuit ... (read more)
Southern Nevadans weigh benefits, opportunities in Cuba18 December 2014
LAS VEGAS -- People in Southern Nevada had mixed reactions Wednesday to the United States normalizing relations with Cuba. The news also had gaming analysts speculating on what the change could mean for casinos that once existed in Havana. Some believe that President Barack Obama’s restoration of ... (read more)
Gaming exec McBeath tapped as new CEO of Cosmopolitan of Las Vegas18 December 2014
LAS VEGAS -- The new owners of The Cosmopolitan of Las Vegas have tabbed long time gaming executive Bill McBeath as CEO of the Strip resort. McBeath will take over the property once Blackstone Real Estate Partners VII takes ownership of the resort, possibly as soon as Friday. The 2,995-room Cosmopolitan is being sold to the division of New York City-based Blackstone for $1.73 billion. ... (read more)
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