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Rod Smith Gaming Guru - Page 42FTC Places Merger on Hold; More Data Sought From Harrah's, Horseshoe Gaming10 November 2003
Harrah's Entertainment and Horseshoe Gaming Holding Corp. announced Friday their proposed, $1.4 billion merger is on hold indefinitely because of federal concerns about anticompetitive effects of the buyout.
The Federal Trade Commission has demanded added information from both companies to assure ... (read more)
In Depth: Gambling on Las Vegas: Street Smarts10 November 2003
LAS VEGAS -- Las Vegas, the town made notorious by countless Hollywood movies and TV shows, has gone from a gambling mecca the mob built to a center of development financed and directed by Wall Street in just 25 years.
To understand Las Vegas' transformation from mob to corporate control, longtime ... (read more)
Nevada Casinos File Security Plans7 November 2003
LAS VEGAS -- Nearly half of Nevada's hotel-casinos have complied with a new state law requiring them to file emergency response plans with the state and local police and fire departments.
Jerry Bussell, chairman of the Nevada Homeland Security Commission, said Thursday that compliance is rapidly ... (read more)
Park Place Losing in Diet Competition7 November 2003
LAS VEGAS --America is getting fatter and fatter, but 7,000 Park Place Entertainment Corp. executives and employees have been bucking the trend with some corporate trimming: 43,000 pounds lost in a dieting competition.
That's 20 tons, the same, in a sense, as shedding 20 automobiles, 6,000 personal ... (read more)
Gaming Supporters, Opponents Find Solace6 November 2003
UNITED STATES -- Despite being dealt setbacks in four out of five states where casinos became an issue, gaming opponents and backers both found reasons for solace in Tuesday's election results.
"(Whenever) voters reject gambling by margins of 67-33 (as they did in Maine) and 81-19 (Colorado), it's clear the public has problems with the product," the Rev. ... (read more)
Security Commission, Gaming Industry to Meet4 November 2003
LAS VEGAS -- The Nevada Homeland Security Commission will hold its first meeting Wednesday and address gaming industry concerns about compliance with a new law requiring casinos to file emergency response plans with state and local agencies.
Most Nevada hotel-casinos missed Friday's deadline for filing ... (read more)
Las Vegas Convention Numbers Down4 November 2003
LAS VEGAS -- A drop in the number of large conventions and dwindling attendance at major meetings toward the end of this year will hurt at least two major gaming operators, a new report from UBS Warburg says.
The report, released to investors last week, rebuts earlier reports by Merrill Lynch and ... (read more)
Gambling Stock Gauge Gallops Forward in October3 November 2003
LAS VEGAS -- Driven by the resurgent economy and prospects for gaming proliferation, gaming stocks continued to climb in October with the Applied Analysis Gaming Index of local gaming stocks up 2.7 percent for the month.
The monthly weighted average of eight local stocks rose to 194.35 in October, up from ... (read more)
The Strip: Caesars Detail Tower Plans28 October 2003
LAS VEGAS -- Caesars Palace broke ground for its new tower Monday, hoping to entice enough added guests to return casino play to historic standards.
The $376 million expansion with its 26-story, 949-room luxury hotel tower is planned to increase operating margins from their recent 15 percent range to the ... (read more)
Study: Hotel Room Rates to Climb23 October 2003
LAS VEGAS -- Hotel room rates likely will climb in 2004, a national travel trade association study predicts, signaling a recovery in business travel and giving the gaming industry a much-needed shot in the arm.
Gaming analysts, however, remain only cautiously optimistic, saying the industry's ... (read more)
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