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Tim O'Reiley Gaming Guru - Page 2

Tim O'Reiley

Legal dispute between Wynn, Okada put on hold for another six months

1 November 2013
LAS VEGAS -- The legal feud between Wynn Resorts, Limited and former largest shareholder Kazuo Okada went into hibernation for another six months on Thursday amid concerns about the safety of witnesses in a parallel criminal inquiry by federal prosecutors. In ruling, Clark County District Judge Elizabeth ... (read more)

Judge tosses one part of case brought by Okada against Wynn Resorts

30 October 2013
LAS VEGAS -- Wynn Resorts, Limited on Tuesday won dismissal of one piece of the case brought by former largest shareholder Kazuo Okada, as the all-out legal war between the two starts to come out of hibernation. The latest version of countercomplaint by Okada, the Japanese gaming tycoon whose investments ... (read more)

Judge OKs $1.03 million for plaintiff's expenses in Las Vegas Sands trial

30 September 2013
LAS VEGAS -- Hong Kong businessman Richard Suen was awarded $1.03 million Wednesday to cover expenses for his six-week trial that ended in May, 10 percent less than he had requested but far more than the 90 percent discount requested by his one-time client, Las Vegas Sands Corp. In taking 39 minutes to ... (read more)

Last-minute loan allows Jerry's Nugget to continue local ownership

25 September 2013
LAS VEGAS -- A last-minute loan Tuesday allowed locals casino Jerry’s Nugget to win approval for its Chapter 11 reorganization plan and continue the long-time ownership of the Stamis family. The fresh financing, coming from the Toronto-based commercial real estate lender Romspen Investment Corp., will provide $7.5 million to pay off most creditors in full. ... (read more)

LV Sands seeks to chop Suen's trial expenses by 90 percent

13 September 2013
LAS VEGAS -- In the last piece of unfinished business prior to an all-but-certain appeal, Las Vegas Sands Corp. is seeking to slash 90 percent from the trial expenses claimed by former consultant Richard Suen. After a six-week trial that ended in mid-May, a Clark County District Court jury awarded Suen $70 ... (read more)

Jerry's Nugget owners get two more months to maintain control

1 July 2013
LAS VEGAS -- The Stamis family, which has owned landmark locals casino Jerry’s Nugget for five decades, will get two more months in its effort to maintain control. U.S. Bankruptcy Judge Mike Nakagawa on Friday turned down a request by lender U.S. Bank to submit a Chapter 11 bankruptcy reorganization plan that would allow it to take control and sell Jerry’s to the highest bidder. ... (read more)

Johnson to continue as general manager of LVH

25 June 2013
LAS VEGAS -- Ronald Johnson will continue as the general manager of the off-Strip LVH following the end of his tenure as a court-appointed receiver on Sunday. Johnson, a gaming veteran who did a 15-year stint in management at the Riviera, was installed as receiver in February 2012 after the former ... (read more)

Domestic airlines show renewed interest in McCarran; passenger counts rise 2.6 percent

25 June 2013
LAS VEGAS -- Domestic airlines showed renewed interest in Las Vegas in May, and it made a difference. The 3,757,000 passengers who passed through McCarran International Airport in May marked a 2.6 percent increase from a year earlier, the best monthly growth rate since April 2012. The 12 months prior to ... (read more)

Court-appointed receiver for LVH relinquishing duties

21 June 2013
LAS VEGAS -- Ronald Johnson, the court-appointed receiver for the off-Strip LVH - Las Vegas Hotel and Casino, formally checks out on June 30. Clark County District Judge Elizabeth Gonzalez approved the move at a short Thursday hearing that ends his 16-month tenure. After that, all control and operations will reside with the current management team. ... (read more)

County approves rent credit to Michael Gaughan for airport slots

19 June 2013
LAS VEGAS -- The Clark County Commission approved without comment on Tuesday a 70 percent rent credit to Michael Gaughan to bring in a new generation of slot machines at McCarran International Airport. Under the current concession, McCarran collects 86.5 percent of the net revenues from the slots, making Gaughan the largest single contributor to the airport funding after the airlines. ... (read more)

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