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Rod Smith Gaming Guru - Page 21Teamsters Walkout: Experts: Duration, Intensity Key Factors in Strike Impact8 September 2004
While the strike by Teamsters & Truck Drivers Local Union 631 against local convention services companies could have serious consequences in Las Vegas, gaming industry experts said Tuesday the ultimate impact will depend on the strike's duration and intensity.
"There's definitely potential risk and ... (read more)
Las Vegas Sands Files for IPO7 September 2004
LAS VEGAS -- Las Vegas Sands on Friday afternoon filed a $350 million initial public offering with the U.S. Securities and Exchange Commission that could be used to underwrite the new Palazzo adjacent to The Venetian.
The company, which owns The Venetian in Las Vegas and the Sands Macau, is controlled by developer Sheldon Adelson, who also controls the Sands Expo and Convention Center. ... (read more)
Analysts Disappointed with Mandalay's Performance3 September 2004
LAS VEGAS -- Despite the absence of an active convention calendar, Mandalay Resort Group cobbled
together record earnings for its just-ended fiscal second quarter, company President
Glenn Schaeffer said Thursday.
Analysts, however, were disappointed, noting the company's performance fell short ... (read more)
Gaming Stocks Slip for Second Month1 September 2004
Gaming stocks took another dive in July, suffering through their second month in a row of summer doldrums, analysts said Tuesday.
The Applied Analysis Gaming Index, a weighted average of local gaming stocks, ended August at 229.83, down 6 percent, or 15.5 points, from July, but up 28 percent from August 2003. ... (read more)
Room Rates Stall, Convention Slate Expected to Reverse Trend31 August 2004
Following a year and a half of hefty price increases, rates for rooms on the Strip booked three weeks in advance stayed relatively flat this summer.
Analysts said operators had pushed rates too far and too fast, cutting into occupancy rates and forcing companies to retrench in the soon-to-end third quarter. ... (read more)
Premerger Dealings: Colony Capital Bid on Four Casinos Could Speed Up Caesars Deal31 August 2004
Harrah's Entertainment signed an agreement with Colony Capital on Friday to sell four key properties involved in its $9.4 billion buyout of Caesars Entertainment, a move that could speed the regulatory process for the merger, insiders and experts said Monday.
Harrah's put out a request for bids ... (read more)
Casinos Eliminating Craps Position27 August 2004
LAS VEGAS -- Question: How many employees typically work a craps table?
Answer: Four ... er ... well not so fast there, buddy.
Another longtime Las Vegas tradition is starting to see the dice come up snake eyes
as several gaming companies move to eliminate the box man position at craps tables. ... (read more)
Hard Rock Moves to Dismiss Complaint27 August 2004
LAS VEGAS -- The Hard Rock Hotel has set the stage for a battle with the Nevada Gaming Commission
by filing a motion to dismiss a three-count complaint against it for suggestive
advertising.
Previously, the Hard Rock and the state attorney general's office tried to negotiate
a $300,000 ... (read more)
Las Vegas Culinary Academy Opens26 August 2004
LAS VEGAS -- To better serve what has become the fastest-growing segment of the hospitality
industry in Las Vegas, the Culinary Training Academy today will open a $3 million,
11,000-square-foot kitchen classroom at Nevada Partners.
According to the Nevada Department of Employment, Training and ... (read more)
Aladdin Sale Back on Track26 August 2004
LAS VEGAS -- The sale of the $1.4 billion Aladdin hotel-casino is back on track since Nevada
investigators were given access to audit documents dealing with some of the buyers'
investments, Gaming Control Board Chairman Dennis Neilander said Wednesday.
Licenses for a Planet Hollywood-led ... (read more)
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