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Rod Smith Gaming Guru - Page 34Closed Casino: Legal Moves Snarl Binion's Deal10 March 2004
The troubled sale of the Binion's Horseshoe remained mired in more legal maneuvering throughout Tuesday, apparently further complicated by a District Court judge's decision to order a new auction for a tract of land underneath the historic hotel-casino.
Nevertheless, Harrah's Entertainment spokesman ... (read more)
Harrah's Confident Purchase of Horseshoe Will Go Through9 March 2004
LAS VEGAS -- Harrah's Entertainment picked up the gauntlet Monday, announcing it will proceed with its planned three-way deal to buy out the Binion's Horseshoe despite the clouded title to land under the downtown landmark.
"We expect to close on the deal no later than (Tuesday) morning," Harrah's ... (read more)
Downtown: Offer Imperils Horseshoe Sale8 March 2004
LAS VEGAS -- Lawyers were scrambling late Friday night to salvage the proposed sale of Binion's Horseshoe to MTR Gaming Group and the World Series of Poker to Harrah's Entertainment.
The biggest obstacle to the three-way sale arose Friday morning when former state Sen. Bill O'Donnell dealt a body ... (read more)
Going Good At 258 March 2004
LAS VEGAS -- A quarter-century after it opened, the Barbary Coast is sitting on a prized piece of real estate with perhaps the most potential for Strip redevelopment, analysts agreed Friday.
The Victorian-themed property next to the Flamingo was the first property developed and managed by Michael ... (read more)
Binion's Horseshoe Sale Approved4 March 2004
LAS VEGAS -- Meeting in back-to-back emergency sessions, Nevada's gaming regulators late Wednesday
approved the sale of Binion's Horseshoe to Chester, W.Va.-based MTR Gaming Group,
subject to 10 conditions.
The state Gaming Control Board and the state Gaming Commission also approved ... (read more)
Barrick Gaming Reveals Plans4 March 2004
LAS VEGAS -- Calling its gaming operations the new "anchor tenant" for downtown
redevelopment, Barrick Gaming Corp. on Wednesday unveiled plans to renovate and
expand the areas around four downtown properties it is buying.
Tony Cabot, a partner in Las Vegas law firm Lionel, Sawyer & Collins who ... (read more)
Las Vegas Room Rates Up4 March 2004
LAS VEGAS -- Despite slack convention and events business in late March, first-quarter room rates
on the Strip are climbing at double-digit rates to record peaks, analysts said
Tuesday.
"This demonstrates the strength of the economy in both leisure and business
travel. It's very promising for 2004 ... (read more)
Union Opposes Aladdin Sale4 March 2004
LAS VEGAS – State regulators are investigating objections raised by the Culinary union to the
designated buyer for the Aladdin, Nevada Gaming Control Board Chairman Dennis
Neilander confirmed this week.
Culinary Local 226 raised its objections over the sale to a group that owns Planet
Hollywood in a letter to the control board last week.
... (read more)
Former Castaways, Horseshoe Staff : Once Gone, But Now Taken On2 March 2004
Thanks to pent-up demand for workers in the gaming industry, major casino companies are snatching up former Binion's Horseshoe and Castaways workers, even as the proposed sales and reopening of the properties are progressing.
"Once again, the demand for workers illustrates the alchemy of Las Vegas' success for workers -- there are never enough. ... (read more)
Wynn's Stock, Hotel in Fine Shape1 March 2004
LAS VEGAS -- Wynn Resorts topped off twice this week: It poured the top slab on its signature Las Vegas resort and its stock continued its remarkable climb with share price increases leading all other major gaming companies.
Despite having neither cash flow nor operating income, and with more than a ... (read more)
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