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Rod Smith Gaming Guru - Page 24Gambling Opponent: Merger May Slow Proliferation27 July 2004
LAS VEGAS -- At least one opponent of gambling proliferation expects to get some new ammunition
from an unlikely quarter: the planned merger of Harrah's Entertainment and Caesars
Entertainment.
The $9.4 billion megamerger will not only create the largest and most geographically
diverse ... (read more)
Gaming Operators More Likely to Bet on Las Vegas27 July 2004
LAS VEGAS -- Gaming operators are beating a fast retreat from expansion across the country and
returning their focus for investments back to Las Vegas, where gaming is not only
legal, but casino companies enjoy the friendliest regulatory and tax environment in
the country, industry insiders said. ... (read more)
IGT Still Rolling23 July 2004
LAS VEGAS -- Slot making giant International Game Technology continued its earnings roll in the
second quarter with net income of $141.1 million, or 38 cents a diluted share, up 36
percent from $103.7 million, or 30 cents a share, in the same period a year earlier.
Goldman Sachs analyst Steve Kent ... (read more)
Hail Caesars' Healthy Profits23 July 2004
LAS VEGAS -- Caesars Entertainment conquered its previous records with net income of $148 million,
or 47 cents per diluted share, in the second quarter, up 261 percent from $41
million, or 14 cents a share, a year earlier.
"They had a good quarter. Las Vegas just drove the whole quarter for them. ... (read more)
Harrah's Began with Bingo Parlor21 July 2004
LAS VEGAS -- Harrah's Entertainment, one of the oldest and most recognized operators in the casino
entertainment industry nationwide, was founded in 1937 when Bill Harrah opened a
hole-in-the-wall bingo parlor in Reno.
By taking what the industry saw as risks and using unorthodox business ... (read more)
Harrah's Began with Bingo Parlor in Reno21 July 2004
Harrah's Entertainment, one of the oldest and most recognized operators in the casino entertainment industry nationwide, was founded in 1937 when Bill Harrah opened a hole-in-the-wall bingo parlor in Reno.
By taking what the industry saw as risks and using unorthodox business practices, Harrah built ... (read more)
THE STRIP: Harrah's has an Out in Merger20 July 2004
Harrah's Entertainment included an escape clause in its final merger
agreement to buy Caesars Entertainment for about $9.4 billion, documents
filed with the Securities and Exchange Commission showed.
Specifically, if Harrah's believes any property sales ordered by federal
or state ... (read more)
Poll Finds More Visitors Growing Leery of Las Vegas20 July 2004
A new MRC Group Research Institute survey suggests visitors are growing
warier about Las Vegas as a travel destination, leading marketing experts to
warn that tourism officials better be prepared in case attitudes sour
further.
"We should look at this as an early warning sign. We need to ... (read more)
Merger Agreement: 'Another Level' of Gaming19 July 2004
Industry insiders who have sized up the proposed $9.4 billion merger between Harrah's Entertainment and Caesars Entertainment said Friday the deal -- if it gets done -- will possibly create the most powerful marketing tool in gaming.
Harrah's President Gary Loveman said Thursday in a conference ... (read more)
Gaming Industry: Betting on a Monopoly19 July 2004
The recent spate of mergers, merger agreements and rumors about mergers is beginning to turn the real estate on the Strip into a giant Monopoly board with fewer and fewer players who have larger and larger stakes in the game.
Two of the biggest players right now are MGM Mirage Chairman Terry Lanni and the company's controlling shareholder, Kirk Kerkorian. ... (read more)
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