Gaming

Lender: Operator lined up if Hard Rock Hotel enters foreclosure

A view of the Hard Rock hotel-casino at Paradise Road and Harmon Avenue on Tuesday, Jan. 25, 2011.

The lender trying to foreclose on the Hard Rock Hotel says it expects to receive approval for the foreclosure and -- if it forecloses -- it has lined up a company to run the property.

3 February 2011
By Steve Green

Casinos rolling out the red carpet for Chinese New Year

A family takes a photo in front of a giant rabbit, a decoration for Chinese New Year, at the Bellagio Conservatory and Botanical Gardens on Sunday, Jan. 23, 2011. The new year, the Year of the Rabbit, begins Feb. 3.

It’s the time of year when red and gold lanterns adorn Strip casino ceilings and citrus trees line hotel lobbies. It isn’t your typical New Year’s décor but a sign that Las Vegas is ready to usher in another round of celebrations — and one of its most profitable periods of the year. The Chinese New Year officially begins today, bringing thousands of domestic and international tourists to Las Vegas and injecting million of dollars into the city’s economy.

3 February 2011
By Amanda Finnegan

Sports books get OK to take bets on nonsporting events

Sports books get OK to take bets on nonsporting events

For years, Johnny Avello has drawn the attention of Hollywood and moviegoers worldwide by posting odds on who will win the Academy Awards.

3 February 2011
By Richard N. Velotta

Bally Technologies sees drop in quarterly profit

Casino supplier Bally Technologies Inc. of Las Vegas today said revenue and profit fell in its second quarter ending Dec. 31 as casinos ordered fewer slot machines.

2 February 2011
By Steve Green

Debt-rating agency says Cosmopolitan will drive demand on Strip

A private terrace of a Cosmopolitan guest room offers a view of the Bellagio Fountains and other properties along The Strip.

The new Cosmopolitan casino-resort on the Las Vegas Strip may be hurting competitors, but overall it's good for the city. That's according to Fitch Ratings, which on Tuesday issued its 2011 forecast for the gaming industry.

2 February 2011
By Steve Green

Hard Rock Hotel files lawsuit over lender's foreclosure plans

A view of the Hard Rock hotel-casino at Paradise Road and Harmon Avenue on Tuesday, Jan. 25, 2011.

A company trying to foreclose on the Hard Rock Hotel has no right to do so and is trying to gain a tactical advantage over more senior creditors, the casino charges in a new lawsuit.

2 February 2011
By Steve Green

70-year-old El Cortez aims at younger downtown crowd with revamped suites

Designer Tina Enard of Reno-based Urban Design Studio puts the finishing touches on their suite "The Big Sleep" at the El Cortez Hotel during the designer reveal of the suites that were redesigned for the Design a Suite Downtown competition at the El Cortez Thursday, January 27, 2011.

High above the casino floor where customers are tethered to the slot machines, the El Cortez has spent months revamping its hotel to attract the young, hipster crowd finding its way to the new downtown.

2 February 2011
By Amanda Finnegan

Casinos on guard against tech-savvy baccarat ring

Dealer Joe Carrion waits inside the high-limit baccarat room in January at the Hard Rock Hotel.

On the eve of the Chinese New Year holiday and one of the biggest gambling events of the year for the Strip, casinos are rolling out the red carpet for baccarat players — and looking out for a group of cheaters suspected of scamming Las Vegas out of more than $1 million last month.

2 February 2011
By Liz Benston

MGM Resorts resumes employee 401(k) matches

MGM Resorts International, Southern Nevada's largest private employer, today said it will immediately resume matching payments to eligible employees participating in the firm's 401(k) Savings Plan for 2011.

1 February 2011
By Steve Green

Lenders file foreclosure notice against Hard Rock Hotel

A group of lenders has filed a notice of foreclosure against the financially struggling Hard Rock Hotel, which would give the lenders the right to take control of the hotel-casino in a public auction scheduled for Feb. 7.

1 February 2011
By Liz Benston

MGM announces plans for company's first hotel in India

MGM Hospitality, a division of MGM Resorts International, announced today it has signed an agreement to operate the company’s first hotel in India.

1 February 2011
By Amanda Finnegan

Booze sales, nightclub scene defy recession to boost casinos

Kelly Rowland performs at Surrender in the Encore on Sept. 5, 2010.

What recession? Those opulent nightclubs are paying off for the Strip with their pricey bottles of booze. The latest figures for 2010 show Strip partyers are running up huge bar tabs, offering a shot of hope to the otherwise gloomy numbers.

1 February 2011
By Liz Benston

Las Vegas Strip casinos post $2.5 billion loss in year

Dark skies hang over the southern portion of the Las Vegas Strip in this file photo.

CARSON CITY – The major casinos along the Las Vegas Strip suffered a $2.5 billion loss in fiscal year 2010, but it still was a better showing than the previous 12 months, the state Gaming Control Board reported today.

31 January 2011
By Cy Ryan

Casinos burned by gamblers who skip out on markers

Casinos burned by gamblers who skip out on markers

After high roller Andrew Pham racked up more than $1 million in gambling debts more than four years ago in Las Vegas, the seven casinos stiffed by him turned to the Clark County district attorney’s office for help. By the time the dust settled eight months ago, Pham had pleaded guilty, was ordered to pay the debt and was placed on informal probation with an order to “stay out of trouble.”

30 January 2011
By Liz Benston

Governor advocates modernizing gaming regulations

CARSON CITY – Tucked away in one paragraph of his 22-page State of the State address, non-gambler Gov. Brian Sandoval is calling for a modernization of regulations over the casino industry.

28 January 2011
By Cy Ryan
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