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Rod Smith Gaming Guru - Page 13Archon Avoids Lawsuit by Raising Option Price29 June 2005
Archon Corp. on Tuesday yielded to demands of minority shareholder D.E. Shaw & Co. and raised the price for insider options to $20.50 from $1.
In return, the $15 billion New York-based real estate investment firm promised not to sue the Las Vegas-based gaming company.
D.E. Shaw had ... (read more)
Survey Suggests Tourists Still like LV28 June 2005
Visitors, more than ever, see the cost of visiting Las Vegas going up, but they would rather cut down on amenities than abandon vacationing here, a new survey by MRC Group Research Institute said Monday.
Industry experts said the survey illustrates the trend toward Las Vegas becoming more ... (read more)
$4 Million Archon Bonuses Challenged by New York Firm21 June 2005
A New York investment firm alleges in a complaint filed with federal regulators that Las Vegas-based Archon Corp. diluted minority shareholders' interests by giving unjustified bonuses to relatives of majority shareholder Paul Lowden.
In the complaint, filed Friday with the Securities and Exchange Commission, D.E. ... (read more)
Two Awarded Punitive Damages from Detective Agency Used by Casinos20 June 2005
Two advantage gamblers whose rights were violated in an incident five years ago at Caesars Palace on Friday won punitive damages from a detective agency that supplies information to casinos.
A District Court jury ordered Griffin Investigations to pay Michael Russo $15,000 and James Grosjean ... (read more)
Where to Now, Old Friend?15 June 2005
The prospect that Harrah's Entertainment will assimilate Caesars Palace and turn it into another Harrah's casino has been keeping some loyal high rollers away, even though plans for the property so far are little more than informed speculation.
Shirley Marx, a widowed Chicago businesswoman, said ... (read more)
Life on the Strip after the Mergers13 June 2005
The mergermania that has swept the gaming industry for more than a year is changing competition in ways no one expected when it all began, industry experts agree.
Caesars Entertainment, once the largest gaming company, will be nothing but history once Harrah's Entertainment completes its $9.4 ... (read more)
Strip Room Rate Growth Slows Sharply8 June 2005
The rapid growth in demand for rooms on the Strip came close to a shuddering stop in the first half of 2005, following the record increases of 2004 and in the wake of the Wynn Las Vegas opening, analysts said Tuesday.
The steady climb in rates for rooms booked three weeks or more in advance -- the ... (read more)
Inside Gaming Column: Urban Village by Wynn May Cost $4 Billion6 June 2005
Details are starting to slither out about developer Steve Wynn's concept for an urban village development on 135 acres of his Desert Inn site. Although no announcements have been made and no public data are available, a Wall Street source says the project, tentatively called Wynn Golf Course Redevelopment, will include 5,000 hotel rooms, cost at least $4 billion and open in 2010. ... (read more)
The Future of Gambling: Newer, Fuller and Still Sharp6 June 2005
(This is part one of two stories.)
Flux in the gaming industry is generating a wave of new investment and new competitors, even if the two megamergers now coming together leave the casino business less competitive, executives and analysts argue.
The casino industry would be less competitive ... (read more)
Nevadan at Work: Entrepreneurial Spirit Drew Professor to UNLV6 June 2005
University of Nevada, Las Vegas, professor Hal Rothman said a class he took that melded literature and history inspired his career choice.
Getting to the office of University of Nevada, Las Vegas history department Chairman Hal Rothman can be surprising. That's because he has the office with ... (read more)
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