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Liz Benston Gaming Guru - Page 6Who needs a showroom? Posh nightclub is resort's hub22 December 2008
LAS VEGAS, Nevada -- Encore has no volcano or pirate show, nor does it have a showroom. Instead, Steve Wynn's follow-up to Wynn Las Vegas has a nightclub as the centerpiece of the resort, making Encore the first on the Strip to embrace pool and night life culture as not merely a major draw but the top ... (read more)
For strapped casino giant, sale provides sure cash17 December 2008
LAS VEGAS, Nevada -- For some casino operators, this downturn is a fight for survival.
For a select group of entrepreneurs, it's the chance of a lifetime.
One of them, Phil Ruffin, got his chance Monday, when MGM Mirage announced it would sell Ruffin the company's Treasure Island for $775 ... (read more)
Casinos again loosen up on rooms, meals15 December 2008
LAS VEGAS, Nevada -- Strip casinos lost the business of people like Fred Jones years ago, when the business model for which the industry was known — free meals and rooms for gamblers, even low rollers — was phased out.
It was replaced by a strategy focused on maximizing profit across all business ... (read more)
Got $300K? Your private gambling room is ready10 December 2008
LAS VEGAS, Nevada -- Nevada regulators have changed some house rules with the goal of boosting lackluster business in private gambling rooms for high-rollers.
Last month, the Nevada Gaming Commission voted to remove a minimum bet requirement for table games in so-called private gaming salons. Formerly, ... (read more)
Station, Harrah's to bondholders: Help us refinance10 December 2008
LAS VEGAS, Nevada -- With no sign of an economic recovery on the horizon, Station Casinos and Harrah's Entertainment are bargaining with lenders to help resolve their cash flow problems.
It's a high stakes poker game: Both companies — loaded up with debt from leveraged buyouts set in motion before the ... (read more)
Station and Harrah's ask bondholders for help9 December 2008
LAS VEGAS, Nevada -- With no sign of an economic recovery on the horizon, Station Casinos and Harrah's Entertainment are bargaining with lenders to help resolve their cash flow problems.
It's a high stakes poker game: Both companies — loaded up with debt from leveraged buyouts set in motion before the ... (read more)
Don't bet on casino bailout8 December 2008
LAS VEGAS, Nevada -- The debate over the proposed federal bailout of Detroit's Big Three automakers raises some intriguing comparisons with the industry behind our own company town.
Las Vegas has been called the "last Detroit." And the Strip is indeed a modern union success story.
The U.S. automakers ... (read more)
Economy poses test for The Strip's big night3 December 2008
LAS VEGAS, Nevada -- Strip casinos have maintained enviably high occupancy rates during this recession by offering deep discounts and unprecedented package deals – an indication that customers are still willing to open their wallets for bargains even in turbulent times.
But a major test of tourism demand is approaching. ... (read more)
Casinos face dilemma in struggling economy1 December 2008
LAS VEGAS, Nevada -- Throughout this downturn, big Strip casinos have kept hotel occupancy high by cutting room rates and offering discounts and other promotions.
But this volume-driven strategy has a key weakness.
In recent months, the profits of several big casino operators have fallen faster than revenue, or total sales before expenses. ... (read more)
Web betting is wedge for big gaming26 November 2008
LAS VEGAS, Nevada -- Casino companies may be commiserating over their earnings troubles, but they are squabbling like extended family at Thanksgiving dinner over the prospect of legalized Internet gambling.
After more than a decade of hit-and-miss efforts by individual casino companies and interest groups ... (read more)
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