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Howard Stutz Gaming Guru - Page 79Making a disused hotel roof a striking Las Vegas pool club all in Drai's work28 April 2014
LAS VEGAS -- Nightclub operator Victor Drai considered the roof of the former Barbary Coast and Bill’s Gamblin’ Hall &Saloon untapped potential. Drai, 66, a Los Angeles-based nightlife mogul, operated Drai’s After Hours in the basement of the small Strip casino. On New Year’s Eve he would venture to the roof of the 11-story property to watch the annual fireworks show. ... (read more)
What is Strip land worth? Echelon deal offers ideas28 April 2014
LAS VEGAS -- For now, we have a benchmark on Strip land values. The sale by Boyd Gaming Corporation of the 87-acre Echelon site to the Genting Group for $350 million — roughly $4.02 million an acre — gave analysts an idea of what property on the Strip might be worth in today’s market. We’re long past the ... (read more)
Driven by Macau, Las Vegas Sands Corp. earnings rise 36 percent25 April 2014
LAS VEGAS -- Las Vegas Sands Corp. grew profits 36 percent in the first quarter, driven by the success of the company’s casino holdings in Macau. And, in response to a conference call question from an analyst, Chairman Sheldon Adelson said there is no reason to believe the market — China’s only legal gambling jurisdiction — will slow down any time soon. ... (read more)
Penn National Gaming again views expansion on Strip25 April 2014
LAS VEGAS -- Penn National Gaming, Inc., which owns M Resort, is again looking at the Strip for possible expansion opportunities. During a conference call Thursday with analysts to discuss the casino operator’s first quarter earnings, Penn National CEO Tim Wilmott was asked about reports that Australian ... (read more)
Genting submits bid for upstate New York casino license25 April 2014
Malaysia-based Genting, which is planning to build the $4 billion Resorts World Las Vegas, submitted a bid Wednesday for an upstate New York casino license. Through the company’s Americas division, Genting said it paid the $1 million application fee to the New York State Gaming Commission as part of an application for one of four casino licenses for the Hudson Valley and Catskill regions. ... (read more)
Caesars to bid on one of four New York gaming licenses24 April 2014
LAS VEGAS -- Caesars Entertainment Corporation will bid on one of four gaming licenses available in New York with the hopes of building a $750 million hotel-casino complex 50 miles north of Midtown Manhattan. Caesars Senior Vice President Jan Jones Blackhurst confirmed Tuesday the casino giant submitted a $1 million application fee that is due by today. ... (read more)
IGT earnings tumble 66 percent24 April 2014
LAS VEGAS -- Slot machine manufacturer IGT - International Game Technology said Tuesday it experienced a 66 percent decline in earnings during the second quarter. The company, considered the world’s largest maker of gaming equipment, said its net income in the quarter that ended March 31 fell to $25.7 million, compared with $78.2 million in the same three-month period a year ago. ... (read more)
Stratosphere Tower welcomes 40 millionth visitor23 April 2014
LAS VEGAS -- The Stratosphere Casino Hotel and Tower welcomed its 40 millionth visitor Monday and the guest turned out to be a British tourist making his first ever trip to Las Vegas. Just after 10:30 a.m., James Kennedy of Birmingham, England, was greeted by Stratosphere General Manager Paul Hobson at the ... (read more)
Report: Billionaire Packer plans to make offer for Cosmopolitan23 April 2014
LAS VEGAS -- A spokeswoman for Deutsche Bank in New York wouldn’t discuss an Australian press report Monday that The Cosmopolitan of Las Vegas could be sold to a company controlled by billionaire James Packer. Germany’s largest bank, which opened the 3,000-room Cosmopolitan in December 2010 after it foreclosed on the project’s original developer, is reportedly seeking a buyer for the resort. ... (read more)
SLS Las Vegas has begun hiring to fill 2,700 jobs23 April 2014
LAS VEGAS -- The $415 million SLS Las Vegas Hotel Casino has begun hiring to fill 2,700 jobs at the 1,600-room Strip resort that is expected to open Labor Day Weekend. Operated by Los Angeles-based SBE Entertainment Group, LLC, the employment process is the second phase for SLS, which recently hired managers and department directors. ... (read more)
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