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Rod Smith Gaming Guru - Page 37Binion's Workers to Still Get Aid4 February 2004
A national emergency program that has been used to help hundreds of former Binion's Horseshoe employees is ending, but another 400 out-of-work casino workers will still be eligible for help, a Nevada Partners official said.
Now, workers will qualify for largely similar assistance under the state's ... (read more)
Analyst: Venetian Clear No. 2, Strong Earnings Put Strip Resort Behind Only Bellagio4 February 2004
Despite strong growth in 2003 at the Las Vegas Sands, owner and operator of The Venetian, Grand Canal Shops and Sands Macau, net income faltered in the fourth quarter on weak table play, depreciation and interest expenses, officials said Tuesday.
Net income increased in 2003 to $38.2 million, up from a loss of $38.4 million in 2002. ... (read more)
Binion's Targeted for Insurance Probe2 February 2004
LAS VEGAS -- Binion's Horseshoe and its owner, Becky Binion Behnen, are being investigated by the
U.S. Department of Labor for possible violations of federal law involving $2.5
million in unpaid worker health insurance claims, officials said Friday.
The investigation, possibly criminal as ... (read more)
Gaming Stocks Strong in January2 February 2004
LAS VEGAS -- January was a stellar month for gaming stocks, with the average value of casino
shares up more than 50 percent from a year earlier. The gain was also more than
double that of the broader market indexes.
"Investors were anticipating good news coming from the bellwethers (in the ... (read more)
Asbestos Adds to Binion's Woes29 January 2004
LAS VEGAS -- Asbestos materials lacing Binion's Horseshoe could further delay its sale and
reopening as well as slow and add substantial costs to any renovation or
redevelopment of the downtown property, sources said this week.
Asbestos is a mineral fiber that was widely used in pre-1980s construction as an
insulation material in floor and ceiling tiles and walls. ... (read more)
Horseshoe Woes Continue: Sources: Medical Bills Unpaid28 January 2004
LAS VEGAS -- Hundreds of Binion's Horseshoe former workers may have to pay millions in unpaid medical bills even though the gaming company deducted medical insurance premiums from their paychecks.
Some former nonunion employees, which could number up to 1,000 over the past two years, have been ... (read more)
Tribal Gambling's Threat Nears with Expansion Talks28 January 2004
NEVADA -- Nevada casinos are likely to face major challenges sooner rather than later based on the rapid progress of initial negotiations to expand tribal gaming in California, Wall Street analysts said Tuesday.
Gaming experts here agreed there are substantial legal and economic issues involved that ... (read more)
Ongoing Betting Growth Called Threat to Nevada26 January 2004
Delays in dealing effectively with the burgeoning growth of online gaming is compounding the competitive and regulatory challenges it poses for Las Vegas, industry experts said this week.
Failing to act could cost Nevada significant gaming revenue, exacerbate the problems of money laundering and cede ... (read more)
Emergency-Plan Flap Persists26 January 2004
Nearly four months after a statutory deadline, state officials this week are still finalizing the list of hotel-casinos required to file emergency response plans with the Division of Emergency Management and correcting the log of who has complied.
Still, confusion lingered with the state claiming ... (read more)
Emergency Plans Stir Up Confusion20 January 2004
Despite a Jan. 1 deadline for hotel-casinos to file emergency response plans with the state Division of Emergency Management, major confusion prevails over which properties have complied.
The confusion has arisen over a state homeland security law enacted last summer. That law set a Nov. 1 deadline ... (read more)
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