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Liz Benston Gaming Guru - Page 43Attracting High Rollers a Luxury for Wynn28 April 2005
LAS VEGAS -- Wynn Las Vegas is positioned as the pre-eminent luxury resort in a town where high-end properties such as the Bellagio, Venetian and Mandalay Bay have proved to be the most profitable in recent years.
Steve Wynn's $2.7 billion gamble on the luxury market couldn't have come at a better time, analysts say. ... (read more)
World Poker Tour Crowns Champion25 April 2005
More than seven grueling hours after the kickoff of the World Poker Tour Championship at the Bellagio resort Sunday afternoon, Los Angeles resident Tuan Le took home the top prize of $2.9 million in what has become the world's most expensive poker tournament.
Now in its third year at the Bellagio, ... (read more)
Mandalay Purchase Expected to Close Today25 April 2005
LAS VEGAS, Nevada -- MGM Mirage is expected to close its historic $7.9 billion buyout of Mandalay Resort Group by this afternoon, welcoming the Mandalay properties into the fold, company officials said this morning.
The company will have 28 casinos worldwide and control about half of the Strip ... (read more)
MGM Mirage Announces Big Plans for Macau Casinos19 April 2005
and Richard N. Velotta
MGM Mirage said today the government of Macau has granted a subconcession to a joint venture with business partner Pansy Ho Chiu-king to build a $975 million casino resort in the Chinese province, which is poised to overtake the Las Vegas Strip in gambling revenue. The ... (read more)
Riviera's Staying Power on Display19 April 2005
Within months of opening its doors in April 1955, the Riviera hotel and casino went bankrupt -- the fallout of a glut of casinos that opened around the same time.
In 1984 the property filed for Chapter 11 bankruptcy after struggling to pay down a high interest loan, digging itself out a year later. ... (read more)
MGM Mirage Reports Rosy Profit, Outlook19 April 2005
MGM Mirage officials said the company shattered profit records at several Las Vegas Strip resorts in the first quarter and that the remainder of the year also looks strong.
Executives also said they expect the company's acquisition of Mandalay Resort Group to close on Monday.
At a meeting ... (read more)
Internet Sites Show Poker Pros the Money15 April 2005
LAS VEGAS -- In the last couple of years poker professionals -- many of them Las Vegas residents -- have struck endorsement deals with Internet poker sites and regularly tout them during casino appearances.
In a bar near the lobby of the Rio resort, poker legend Doyle Brunson recently held court with fans under the glare of camera lights to promote his latest poker book, SuperSystem 2. ... (read more)
Nevada Players Ante Up Online15 April 2005
LAS VEGAS -- Every day hundreds of Las Vegas residents break the law for a shot at fame and fortune or just a bit of fun.
They work in casinos and in offices. They pay their taxes and hold steady jobs.
And many don't even know they are lawbreakers.
Among them is Jeff Larsen, a casino worker at the Bellagio who has turned a hobby into a part-time job. ... (read more)
Study Shows Link Between Casinos, Bankruptcy15 April 2005
LAS VEGAS -- Counties nationwide that legalized casinos from 1990 to 2002 experienced lower personal bankruptcy rates during the first several years of casino operations but eventually reported higher rates than counties without casinos, according to a study released this month.
The study, one of a ... (read more)
Kerkorian Ruling Precludes Payout to Nonprofit Groups13 April 2005
Billionaire investor Kirk Kerkorian wasn't the only loser to emerge last week from a long-running court battle with car maker DaimlerChrysler AG.
Las Vegas nonprofit organizations were among many charities that stood to receive a piece of an estimated judgment worth up to $1.2 billion should ... (read more)
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