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Rod Smith Gaming Guru - Page 35Casino Stocks: Station, Boyd Help Index to Fine February1 March 2004
The average value of gaming stocks soared to new records in February, up 76 percent from a year earlier, despite marked weaknesses in slot machine manufacturers' shares, analysts said Friday.
Station Casinos and Boyd Gaming Corp. led local operators because of their aggressive strategies aimed at ... (read more)
Expert: Las Vegas Could Benefit from Union Merger27 February 2004
LAS VEGAS -- Las Vegas stands to get a lift from the merger of the Culinary's parent union with
the retail, textile and laundry workers union, even though it could be challenging
for the gaming industry, a UNLV professor said.
"For the city, it'll prove to be a good thing. With our changing economy, ... (read more)
Former Sands Exec to Start Own Company27 February 2004
LAS VEGAS -- The No. 2 executive and jack-of -all-trades for Las Vegas Sands owner Sheldon Adelson
on Thursday confirmed he is resigning to start a new company that he called "the
right opportunity at the right time."
The comment from the executive, David Friedman, came after he suddenly announced ... (read more)
Las Vegas Boost Room Profits26 February 2004
LAS VEGAS -- Despite flat room rates and tepid leisure travel demand, major Strip hotel-casinos
are successfully squeezing ever-higher profits per room, a Fulcrum Global Partners
report released this week said.
Although revenue per room has been flat for five years, cash flow per room has
increased 13.3 percent since 1999 and 15 percent since the low point following the
Sept. ... (read more)
Local Group Pursues Castaways, Offering More Than $20 Million25 February 2004
The odds of the Castaways reopening as a hotel-casino improved markedly Tuesday after three local casino operators signed a letter of agreement giving them an option to buy the property.
Randy Miller, Rich Gonzales and Rich Iannone, owners of the Longhorn casino on Boulder Highway and the Bighorn ... (read more)
Book Operator Proposes Plan for Restructuring24 February 2004
LAS VEGAS -- Leroy's Horse and Sports Place, Nevada's largest independent sports book operator, filed a proposed reorganization plan Friday for emerging from bankruptcy protection.
"We're just pleased to be able to come out of reorganization with our shareholders and look forward to a bright ... (read more)
Crowds Jam Colosseum, Fan Caesars Revenue23 February 2004
LAS VEGAS -- The Colosseum at Caesars Palace has rendered crowds and financial rewards substantially surpassing expectations since it opened almost a year ago, Caesars Palace President Mark Juliano said Friday.
In the case of Elton John and his new "Red Piano" show, which opened at the Colosseum ... (read more)
Land Owners Against Binion Deal20 February 2004
LAS VEGAS -- Owners of the land under Binion's Horseshoe are refusing to go along with the
proposed sale of the hotel-casino to MTR Gaming Group, even while industry analysts
and downtown businesses are applauding Harrah's Entertainment's plans for the
property.
MTR and Harrah's on Thursday ... (read more)
MTR Gaming Buys Binion's19 February 2004
LAS VEGAS -- In the end, Binion's Horseshoe in downtown Las Vegas is being sold not to Harrah's
Entertainment, but to Chester, W.Va.-based MTR Gaming Group, which owns the Speedway
Casino at the Ramada Inn in North Las Vegas.
MTR and Harrah's submitted license applications to the Nevada ... (read more)
Casino Business Trends: Strip Hotel Revenues Surge18 February 2004
LAS VEGAS -- Hotel operations, seeing a return of leisure travelers and limited expansion, set a record in January and are on track to set new marks in succeeding months, operators and analysts said Monday.
Revenues from hotel rooms, food and beverages at the top nine hotel-casinos in Las Vegas ... (read more)
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