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Rod Smith Gaming Guru - Page 40Mergers And Acquisitions: Sources Expect Sale of Las Vegas Hilton25 December 2003
Park Place Entertainment Corp. is expected to announce today the sale of the Las Vegas Hilton to Colony Capital for $280 million, sources close to the deal said Tuesday.
Colony, a private, international investment firm focusing mainly on real estate-related assets and operating companies, is ... (read more)
Hilton Has Rich History in Las Vegas24 December 2003
LAS VEGAS -- For more than 34 years, the Las Vegan Hilton has been a Las Vegas landmark and an important part of the history of the casino capital of the world.
When it opened, it was ranked among the finest resorts in the world, hosting the world's top entertainers and attracting some of the ... (read more)
Investigators: Mirage Execs Aware IRS Violation17 December 2003
LAS VEGAS -- State investigators found at least nine executives of The Mirage were aware of and
did nothing to correct the failure to file 15,000 required anti-money laundering
forms with the IRS from 2001 to 2003, criminal discovery files made public Tuesday
show.
"Several Mirage ... (read more)
New Law Disturbs Gaming Industry, Casinos Could be Forced to Surrender Financial Records16 December 2003
Gaming industry executives and civil liberties supporters Monday expressed concern about a new law that makes it easier for FBI agents to demand financial records from casinos and other businesses.
"Protecting our customers' privacy is always one of our most important concerns," Park Place Entertainment Corp. ... (read more)
Park Place, MGM Mirage Consider Casinos in Japan15 December 2003
LAS VEGAS and JAPAN -- At least two Las Vegas-based gaming giants seem be setting their sights on developing a major urban casino in Tokyo and have had recent discussions with representatives of the governor of Tokyo about development partnerships.
Park Place Entertainment Corp. and MGM Mirage have each ... (read more)
Return of Penny Slots12 December 2003
LAS VEGAS --One of the hot trends on casino floors is the return the thrilling days of yesteryear
when it seemed penny slots were king.
Now, casinos are returning to low-denomination slots as ticket-in, ticket-out
technology makes the machines more efficient and players tell operators they like ... (read more)
Las Vegas Back in New Year's Spotlight12 December 2003
LAS VEGAS -- Las Vegas is rebounding as a hot New Year's holiday destination following two years
of tepid growth, surveys of room rates booked three weeks or more in advance show.
As of Wednesday, Bally's, Bellagio, Caesars Palace, Circus Circus, the Hard Rock
Hotel and the Las Vegas Hilton already ... (read more)
Caesars MasterCard Wins Little Credit9 December 2003
Park Place Entertainment Corp.'s latest marketing program -- a Caesars Entertainment-branded MasterCard -- debuted Monday with many credit officials and gaming foes attacking the bank-casino company partnerships.
The new MasterCard offers "comp" rewards to customers of Caesars, Bally's, Paris, Flamingo ... (read more)
$100 Million Planned for The Orleans5 December 2003
LAS VEGAS --Coast Casinos on Thursday announced preliminary plans to add a third $100 million tower at The Orleans on West Tropicana.
The new 21-story tower would add 460 rooms to the Mardi Gras themed-hotel casino, bringing the total number of rooms to 1,886 when it opens in the winter of ... (read more)
Gambling Expansion Slowing Down5 December 2003
LAS VEGAS -- The apparent economic recovery now under way may be lining some U.S. consumers' pockets with extra cash, but it's also slowing the spread of gaming around the country.
On this, at least, American Gaming Association President Frank Fahrenkopf and the Rev. Tom Grey, a top gambling opponent ... (read more)
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