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Richard N. Velotta Gaming Guru - Page 12Gaming regulators OK sale of Gold Strike to Herbst family24 April 2015
The Nevada Gaming Commission has approved the sale of the 300-room Gold Strike in Jean to the Herbst family in a deal the new owners are calling more of a real-estate play than a gaming opportunity. The board on Thursday approved the transfer of a gaming license from MGM Resorts International to JETT ... (read more)
Three firms split on Elaine Wynn's board candidacy22 April 2015
The high-profile boardroom battle between Wynn Resorts’ board of directors and dissident board member Elaine Wynn will come to an end Friday morning, but not before both sides fired off more volleys in advance of the company’s annual shareholders meeting. As things stand now, three companies that advise ... (read more)
Sale of Gold Strike to Herbst-owned company gains preliminary OK10 April 2015
State gaming regulators have recommended approval of the sale of the 300-room Gold Strike Hotel & Gambling Hall in Jean, south of Las Vegas, to a company owned by the Herbst family. The board voted unanimously Wednesday to recommend approval of the transfer of a gaming license from MGM Resorts International ... (read more)
CEO for newly minted IGT rings opening bell on Street8 April 2015
Right, that’s IGT CEO Marco Sala — not GTECH CEO Marco Sala. Sala ushered in the new era for the company that has made a name for Nevada in the gaming equipment manufacturing sector, closing on the GTECH’s $6.4 billion acquisition of the slot machine-manufacturing juggernaut that over the past decade has migrated much of its corporate structure to Las Vegas from Reno. ... (read more)
Proxy firm urges withholding votes for Wynn candidates7 April 2015
A leading independent proxy advisory firm has recommended that Wynn Resorts shareholders withhold their votes for two company-recommended candidates to serve on the company’s board of directors. Institutional Shareholder Services, which monitors boardroom actions for institutional investors, also did not ... (read more)
In historic vote, LVCVA approves purchase of Riviera23 February 2015
LAS VEGAS -- By all accounts, it was a historic vote. In just more than an hour on Friday, the Las Vegas Convention and Visitors Authority board of directors agreed to purchase a Strip hotel that has been operating for nearly 60 years and at the same time, jump-start a project some say is bigger than the state’s Tesla Motors deal in Northern Nevada. ... (read more)
Riviera purchase seen being OK'd despite short-term job losses20 February 2015
LAS VEGAS -- When the Las Vegas Convention and Visitors Authority board of directors takes up the acquisition of the Riviera Hotel and Casino on Friday, it will do so with a board comprised of members who will have to consider killing jobs — and competition. The board meets at 9 a.m. at the Las Vegas Convention Center. ... (read more)
Riviera Hotel to be demolished for Las Vegas Convention Center expansion18 February 2015
LAS VEGAS -- The walls of the Riviera Hotel and Casino will, indeed, come tumbling down. The Las Vegas Convention and Visitors Authority on Tuesday scheduled a special board meeting on Friday to consider acquisition of the 60-year-old Strip resort for $182.5 million, which includes up to $8.5 million in transaction-related expenses. ... (read more)
Is Las Vegas's Riviera Hotel about to be history?14 February 2015
LAS VEGAS -- Is the Riviera Hotel and Casino about to join the Dunes, New Frontier, Stardust and others in the Las Vegas history pages? Real estate, gaming and tourism sources, all speaking on background, have said the 60-year-old Strip resort will be purchased and demolished by the Las Vegas Convention and ... (read more)
Las Vegas tourism chief's new goal: 45 million visitors2 February 2015
LAS VEGAS -- Drawing more than 41 million tourists to Las Vegas is yesterday's news. Now, the head of the Las Vegas Convention and Visitors Authority has a new goal. Rossi Ralenkotter, president and CEO of the organization that markets the city, told an audience at Preview 2015 on Friday that 45 million ... (read more)
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