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Liz Benston Gaming Guru - Page 51TV-Fueled Poker Revival Attracts Strip Casinos29 November 2004
LAS VEGAS -- Caesars Palace will open its first poker room in at least 12 years in response to the burgeoning popularity of poker, while Bellagio and Bally's Las Vegas are considering expanding their poker areas.
Many properties on the Las Vegas Strip still do not have poker rooms or closed their poker rooms years ago, preferring to install more profitable slot machines. ... (read more)
Boyd Adds to Bank of Land Near Stardust24 November 2004
Boyd Gaming Corp. has acquired a 13-acre parcel next to the company's Stardust resort for about $43 million, which includes the assumption of about $16 million in debt. The parcel includes a Budget Suites motel, which Boyd will continue to lease back to the motel operator for another two ... (read more)
Top Sands Execs Get Five-Year Contracts After IPO24 November 2004
The owner of the Venetian resort in Las Vegas has locked up its top executives with employment contracts in advance of its forthcoming initial public offering.
Last week, Las Vegas Sands Corp. entered into five-year employment agreements with Chief Executive Sheldon Adelson, President William ... (read more)
Casino Workers Frequently Confused on Card Counters22 November 2004
Jimmy Pine is an animated, stocky former singer with a vague resemblance to Tom Jones and a propensity to gamble.
But the Rhode Island resident is not welcome in many Las Vegas casinos, where he goes by the nickname "Young Jimmy Dime" and is tracked by surveillance and told to leave if he tries ... (read more)
Caesars Sells Another Casino to Columbia Sussex22 November 2004
Caesars Entertainment Inc. has agreed to sell off a second casino to private hotel chain Columbia Sussex Corp. in advance of its acquisition by Harrah's Entertainment Inc.
Caesars will sell its Caesars Tahoe property to an affiliate of Fort Mitchell, Ky.-based Columbia Sussex for $45 million, a deal ... (read more)
Mandalay Officials Could Get $75 Million19 November 2004
LAS VEGAS -- Mandalay Resort Group officials are expected to receive cash payments of more than $75.5 million upon the company's historic acquisition by MGM Mirage, recent financial statements show.
Upon the close of the $7.9 billion deal, which is expected by the end of the first quarter next year, ... (read more)
Casino Workers Find a Home18 November 2004
LAS VEGAS -- In the shadow of the Desperado roller coaster that winds around the Buffalo Bill's hotel and casino in Primm, a virtual city of 52 beige stucco buildings spreads out into a corner of the desert.
The aptly named Desert Oasis apartment complex is home to Raul Trejo, an information technology supervisor who has worked for the Primm Valley Resorts company for more than 12 years. ... (read more)
Venetian Owner Faces New Suit Over Macau Casino17 November 2004
The owner of the Venetian is facing another lawsuit related to the company's lucrative casino in the Chinese enclave of Macau.
Last month, Hong Kong businessman Richard Suen sued Las Vegas Sands Inc., Chief Executive Sheldon Adelson and President William Weidner in Clark County District Court for ... (read more)
Venetian Owner Reports Loss16 November 2004
Incentive payments to executives worth about $62 million and about $49 million in grants of executive stock options helped drive down third quarter profit at the owner of the Venetian resort in Las Vegas.
Las Vegas Sands Inc. posted an $85.9 million loss in the third quarter compared with a $21 ... (read more)
MGM Mirage-Mandalay Merger Loan Approved12 November 2004
LAS VEGAS -- MGM Mirage's lenders have agreed to loan the company $7 billion in order to finance the acquisition of Mandalay Resort Group, the company disclosed this week.
In a filing with the Securities and Exchange Commission Tuesday, MGM Mirage reported that it will use $7 billion in bank debt to finance the $7.9 billion deal. ... (read more)
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