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Liz Benston Gaming Guru - Page 56Trade Show Lodges Complaint Against Mandalay Director6 August 2004
A small trade show said it has filed a formal complaint with Mandalay Resort Group against a Mandalay board member, saying the board member violated the company's conflict of interest rules by attempting to obtain an equity interest in the show and then blocking the show's desired dates.
The Global Sporting Expo, a startup convention for big game hunters that was set to debut Jan. ... (read more)
Mikohn Narrows Loss in Second Quarter3 August 2004
Losses at slot machine maker Mikohn Gaming Corp. narrowed in the second quarter and executives said the company will either break even or make a profit for the first time in years this quarter.
Executives attributed some of the growth to the rollout of recently approved "coinless" slot machine technology that accepts and dispenses tickets instead of coins. ... (read more)
Potential Buyers List for Harrah's, Caesars Properties is Growing3 August 2004
Midsize casino companies nationwide as well as relative unknowns are expected to join a long list of potential buyers for assets that will be sold should the MGM MIRAGE-Mandalay Resort Group and Harrah's Entertainment Inc.-Caesars Entertainment Inc. mergers go through, analysts say.
Harrah's -- ... (read more)
Smaller Casinos May Face Tougher Rivals with Mergers28 July 2004
LAS VEGAS -- Smaller, regional casinos nationwide will likely face tougher competition for customers if the two pending acquisitions between MGM MIRAGE and Mandalay Resort Group and Harrah's Entertainment Inc. and Caesars Entertainment Inc. take effect, executives said at a national conference of marketing officials this week. ... (read more)
Caesars CEO in Line for $17 Million Merger Bonus19 July 2004
Caesars Entertainment Inc. Chief Executive Wally Barr stands to receive at least $17 million under an employment contract if he resigns from Caesars as anticipated after a pending acquisition by Harrah's Entertainment Inc. is consummated.
Barr would receive his base salary of $1 million for ... (read more)
Ex-Mirage Official Pleads Guilty in Privacy Case12 July 2004
LAS VEGAS -- Former Mirage Resorts Inc. corporate security manager Eugene Harding has pleaded guilty to a federal charge that he conspired with a government official to illegally access an individual's personal tax records while Harding was employed at the Mirage.
The incident is connected to ... (read more)
Country Club Board Rejects Wynn Offer6 July 2004
The Las Vegas Country Club board of directors last week passed on an offer by Steve Wynn to buy the golf club after Wynn increased his bid by about $13 million.
Wynn Resorts sent a letter to club members June 18 offering to buy memberships for $50,000 each, or about $40 million. Wynn increased ... (read more)
Wynn Defends Club Buyout Offer28 June 2004
In a letter to members of the Las Vegas Country Club last week, Steve Wynn said his offer to buy out club owners was "not hostile" and that the decision to sell the club is ultimately up to equity owners.
The letter comes in response to a letter sent last week to members from the country club's board of directors. ... (read more)
Station Focuses on Valley's West Side28 June 2004
LAS VEGAS -- Station Casinos Inc. recently sold a parcel of land along Boulder Highway and is negotiating to sell off a second parcel nearby, foregoing land for casino development on the east side of Las Vegas and instead focusing on developing locals casinos on the more rapidly growing west side of the valley.
... (read more)
MGM Mirage in Deal to Build Casino in China21 June 2004
Fresh from engineering the biggest gaming acquisition in history, MGM MIRAGE today said it entered into a joint venture to build and operate a major resort in the Chinese city of Macau, one of the most lucrative gambling markets in the world.
MGM MIRAGE announced a deal with Pansy Ho Chiu-king, ... (read more)
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