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Liz Benston Gaming Guru - Page 13MGM Mirage spending billions13 May 2008
LAS VEGAS, Nevada -- Even as gamblers, shoppers and diners are clutching to their dollars and Las Vegas reels from the worst economic slowdown since Sept. 11, MGM Mirage is spending billions of dollars on itself.
The spree includes more than $1 billion to buy back company stock, plus another billion ... (read more)
New mobile device at Venetian28 April 2008
LAS VEGAS, Nevada -- A new crop of gambling machines has arrived in town — stacked on a countertop at the Venetian like so many GameBoys or the buzzers that a restaurant hostess uses to let you know when your table is ready.
After years of research and design and regulatory approvals, here comes the ... (read more)
Station Casinos banking on bigger25 April 2008
LAS VEGAS, Nevada -- At a time when businesses across the country are cutting back in the face of economic turmoil, the brothers at the helm of Station Casinos are accelerating plans for an enormous Las Vegas resort larger than CityCenter.
Frank and Lorenzo Fertitta, who took their company private ... (read more)
Lanni last year: $9.6 million in compensation16 April 2008
LAS VEGAS, Nevada -- Excluding the value of stock options and awards, MGM Mirage Chief Executive Terry Lanni earned $9.6 million in compensation last year. That figure includes a salary of $2 million and incentive-based compensation of $6.4 million, according to the company's latest proxy.
That would ... (read more)
Deal salvages Tropicana Tahoe casino15 April 2008
LAS VEGAS, Nevada -- The Tropicana's sister resort at Lake Tahoe, facing eviction for subpar performance, has agreed to pay $165 million to the landowner for permission to stay put for another three years.
The resolution demonstrates how Tropicana Entertainment has been struggling to maintain ... (read more)
Mom and Pop roughed up in gaming license bid15 April 2008
LAS VEGAS, Nevada -- By all accounts, Chet and Karla Cox are successful businesspeople whose hard work earned them a chain of gas station franchises from Chevron, the nation's largest gas retailer. Do-it-yourself people, they held a contractor's license to build their own stations, operated two bar and grills, planned their own marketing campaigns and lined up their own equity partners. ... (read more)
Dubai World files for Nevada gaming license9 April 2008
LAS VEGAS, Nevada -- The love affair between MGM Mirage and Dubai World is looking more like a lifelong commitment of marriage.
Dubai World, the government-owned conglomerate of the Arab state, has filed an application for a Nevada gaming license with the expectation of buying more than 10 percent ... (read more)
Tourism juggernaut shows signs of slowing down9 April 2008
LAS VEGAS, Nevada -- For all the highly technical and nuanced ways to identify economic slowdowns, in Las Vegas there's one simple way to take measure: room rates.
So it doesn't take a Harvard MBA to figure out that, at a time of year when business conventioneers and tourists head to Vegas for ... (read more)
The Golden Gate as a boutique property4 April 2008
LAS VEGAS, Nevada -- In the future, Golden Gate casino owner Mark Brandenburg sees his 107-room property attracting Strip customers who are increasingly frustrated and exhausted by the size and scope of the Strip's ever-growing megaresort empire.
He also sees more folks priced out of luxury resorts ... (read more)
Your own Las Vegas Strip kingdom awaits28 March 2008
LAS VEGAS, Nevada -- If you missed out on last year's $1.2 billion sale of the New Frontier, now is your chance to snap up 27 acres of land just south of the Sahara — one of only two major Strip-facing parcels listed for sale.
But it's going to cost you — a lot.
You'll be dealing with developers ... (read more)
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