Without having to make debt payments, the Riviera hotel-casino remains cash-flow positive and should have no problem surviving the recession while its parent company's bankruptcy case winds down, an executive said Tuesday.
Among the fears of many casino workers in town is not just losing their jobs, but whether they can find work when the economy improves. That’s less of a concern now for some dealers at Wynn Las Vegas.
Nightclub executive Michael Morton will remain at the helm of the N9NE Group after a judge rejected a request by investors and the Palms to remove him.
Wynn Las Vegas President Andrew Pascal will be resigning from his position, the company announced today. Pascal’s position will be filled by Harrah’s Entertainment Regional President Marilyn Winn.
Full House Resorts Inc., a growing Las Vegas-based casino operator, today reported a third quarter profit of $2.2 million, or 12 cents per share, down from $3 million or 17 cents in the year-ago quarter.
By some measures, the recession-battered Strip has made the turn and is on the road to recovery. Room rates, convention bookings, gambling revenue and visitor traffic have all improved. But don’t release the confetti yet.
Economists project Nevada’s gaming business will rebound from the recession over the next two years, but they can’t agree on the strength of the recovery.
Penn National Gaming executives have been high-fiving each other over their purchase of the M Resort’s debt for $230.5 million -- and the right to acquire the $1 billion property outright.
The owner of the big Foxwoods casino in Connecticut today said it hired Las Vegas gaming executive Scott Butera as CEO, bringing much-needed turnaround experience to the gaming operation that has been grappling with debt while trying to salvage a Philadelphia casino project.
Harrah's Entertainment Inc. today posted a third quarter loss as customers spent less in Las Vegas. The company lost $164.8 million in the quarter, a turnaround from 2009's third quarter when Harrah's lost $1.7 billion.
International Game Technology has plans to sell new slot machines based on several recent silver screen hits, including Vegas-themed comedy "The Hangover" and Batman installment "The Dark Knight."
Tropicana Entertainment Inc., investor Carl Icahn's Las Vegas-based gaming company, today said CEO Scott C. Butera is resigning as CEO and from the board of directors to become CEO of another gaming company.
The state Gaming Control Board recommended removing a man from the so-called “gray list” of denied applicants minutes after approving another recommendation that could land a new person to the list.
