Gaming

Why causing big debt has not cost Fertittas control of Station Casinos

Brothers Lorenzo, left, and Frank Fertitta shown in this 2008 file photo.

The Fertitta family may well end up running the Station Casinos empire it founded, even after putting more than $6 billion in debt onto the company in 2007 as the economy worsened and sending it into bankruptcy.

15 August 2010
By Liz Benston

Wynn dealers appeal ruling over tip sharing

As expected, Wynn casino dealers have appealed to overturn Nevada Labor Commissioner Michael Tanchek’s July ruling declaring that Steve Wynn can legally force dealers to share tips with supervisors.

13 August 2010
By Liz Benston

Las Vegas Hilton's loss an improvement over last year

The Las Vegas Hilton lost $9.9 million in the second quarter, an improvement from a year ago as net revenue rose because of conventions.

13 August 2010
By Steve Green

Ex-Shuffle Master CEO Tim Parrott to be inducted into gaming Hall of Fame

Former Shuffle Master Chief Executive Tim Parrott, who died in May, will be inducted into the American Gaming Association Hall of Fame, the gaming industry’s chief lobbying organization announced this week.

13 August 2010
By Amanda Finnegan

Las Vegas Strip’s baccarat fortunes slide

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

Gambling revenue on the Strip, which accounts for more than half that generated by all Nevada casinos, fell 8 percent in June despite a 4 percent increase in visitors.

13 August 2010
By Liz Benston

Some Harrah's shares to be traded publicly

Casino operator Harrah's Entertainment Inc. filed papers with federal regulators on Thursday to publicly trade a nearly 10 percent stake that's now owned by the New York-based hedge fund run by billionaire John Paulson.

12 August 2010
Oskar Garcia, The Associated Press

Mandalay Bay club closes as court allows eviction

Mandalay Bay has won the right to evict the Rumjungle nightclub there and the club is now closed. The club closed Monday and Mandalay Bay is evaluating new concepts for the space.

12 August 2010
By Steve Green

Bally Technologies reports increase in profit

Las Vegas-based gaming supplier Bally Technologies said Thursday it saw an uptick in profit during its fourth quarter of 2010.

12 August 2010
By Amanda Finnegan

Harrah's to manage Ohio casinos in proposed deal

Las Vegas-based Harrah's Entertainment Inc. has signed an initial agreement with a company headed by Cleveland Cavaliers owner Dan Gilbert to develop and operate casinos in Cincinnati and Cleveland.

12 August 2010
Associated Press

Las Vegas Strip casinos see lowest win since 2003

Casinos on the Las Vegas Strip suffered their lowest monthly gross win since 2003, with players of baccarat, blackjack and craps winning more than usual in June.

12 August 2010
By Cy Ryan

Harrah’s sees $$ in resort-fee anger

A view of the Las Vegas Strip in October from the Strip's south end.

Resorts nationwide have jumped on the resort fee bandwagon as a relatively painless way to boost revenue in the name of convenience.

12 August 2010
By Liz Benston

Tropicana posts loss amid upgrade to Las Vegas property

Even as it invests $147 million in upgrading its property, the Las Vegas Tropicana hotel-casino posted a $10.8 million loss on declining revenue in the second quarter.

11 August 2010
By Steve Green

Ameristar Casinos may put self up for sale

Las Vegas-based casino operator Ameristar Casinos said Wednesday that its board of directors is evaluating options that include the possible sale of the company.

11 August 2010
By Amanda Finnegan

Stratosphere owner reports loss in second quarter

Las Vegas gaming operator American Casino & Entertainment Properties LLC posted a second quarter loss today as it wrote down the value of its Stratosphere hotel-casino.

11 August 2010
By Steve Green

Game-changing technology at work in dominant sports books

Bettor Stacy Hofferber of Las Vegas relaxes in the sports book at M Resort with the touch-screens offering betting during live basketball games at left in cubicle.

Cantor Gaming, which operates the race and sports books at M Resort, the Venetian and Palazzo, offered an interesting statistic recently: The company says the three books are responsible for about 15 percent of the state’s annual sports wagering handle, based on figures from the Gaming Control Board.

11 August 2010
By Richard N. Velotta
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