Gaming

Riviera loses $4.5 million, says bankruptcy possible

Riviera Holdings Corp., owner of casinos in Las Vegas and Colorado, today said it lost $4.5 million as revenue fell in the first quarter.

17 May 2010
By Steve Green

Long, hot summer for regulators of Las Vegas party scene

This summer may yield the biggest party season in Las Vegas history, with seven new or expanded pools poised to offer visitors more excuses to drop inhibitions and money.

17 May 2010
By Liz Benston

Las Vegas Sands shows revenue gain on Fortune 500 list

The new Fortune 500 list is out, with Las Vegas Sands Corp. the only big hotel and casino company on the list to show a gain in 2009 revenue vs. 2008. Harrah's was down 12 percent to $8.9 billion, MGM Mirage was down 17.1 percent.

16 May 2010
By Steve Green

Hooters loses $3.9 million, says bankruptcy still possible

The Hooters resort-casino on the Las Vegas Strip.

The privately held Hooters hotel-casino in Las Vegas lost $3.9 million in the first quarter as revenue fell.

14 May 2010
By Steve Green

Las Vegas Hilton reports loss in first quarter

The Las Vegas Hilton swung to a loss during the first quarter of 2010 as revenue fell, according to a filing with the Securities and Exchange Commission on Friday.

14 May 2010
By Amanda Finnegan

MGM Mirage says it's working on CityCenter subcontractor claims

Fireworks explode over the Aria hotel-casino during the official opening Wednesday, Dec. 16, 2009.

There’s now some movement to get CityCenter subcontractors paid at least some of the money they are owed, resort complex co-owner MGM Mirage indicated today.

14 May 2010
By Steve Green

Herbst gaming swings to profit on cost-cutting

Herbst Gaming reported an $8 million profit during the first quarter of 2010 as the company cut costs in its slot and casino operations, according to a filing today with the Securities and Exchange Commission.

13 May 2010
By Amanda Finnegan

Stratosphere owner loses $2.7 million in first quarter

The Las Vegas tourist shortage/room oversupply situation was cited today in another first quarter earnings report, this time by Stratosphere owner American Casino & Entertainment Properties LLC.

12 May 2010
By Steve Green

New ad campaign brings optimistic outlook for tourism

Skydivers and showgirls flank Clark County Commissioner Tom Collins, Holly Madison, Las Vegas Mayor Oscar Goodman and Wayne Newton at the unveiling of the Welcome to Fabulous Camp Vegas sign on April 29, 2010.

The lights were dimmed in the Las Vegas Convention and Visitors Authority boardroom. And Billy Vassiliadis’ mood was bright as the PowerPoint slide projected on the oversized screen. The CEO of R&R Partners, which handles advertising and marketing for the LVCVA, pronounced that the economy hit bottom more than a year ago and is now well on its way to recovery.

12 May 2010
By Kyle B. Hansen

Strip casino winnings increase in March

Casinos along the Las Vegas Strip posted their fourth increased win in the past five months in March, buoyed by strong performances in Baccarat and sports betting.

11 May 2010
By Cy Ryan

Golden Nugget reports increase in revenue

The owner of the Golden Nugget hotel-casinos in Las Vegas and Laughlin today said revenue and cash flow for the gaming properties improved in the first quarter after the Las Vegas property opened 430 rooms in the new Rush Tower during the fourth quarter.

10 May 2010
By Steve Green

Hard Rock Hotel reports 1Q loss of $26.5 million

The valet entrance for the new HRH Tower at the Hard Rock Hotel in Las Vegas Monday, December 28, 2009.

The Hard Rock Hotel and Casino posted a loss of $26.5 million during the first quarter of 2010 as expenses increased at the newly expanded property, it reported today in a regulatory filing. That loss compares to a $24.3 million loss during the same period of 2009.

10 May 2010
By Amanda Finnegan

MGM Mirage, Harrah's finding revenue in rewards programs

Last summer, MGM Mirage sent offers to Las Vegas residents who had previously gambled at the Bellagio, offering them a free stay at the resort. Business was down, so the hope was that these local guests, much like tourists, would spend money on other attractions during their stay.

10 May 2010
By Liz Benston

Tropicana reports loss, cites Las Vegas ‘room inventory imbalance’

The Tropicana Las Vegas hotel-casino lost about $7.7 million during the first quarter and its owners are investing more cash in the resort to help finance $165 million in renovations.

9 May 2010
By Steve Green

Resort fees catch guests by surprise

A view of the Las Vegas Strip.

Chicago resident Tim Murtaugh keeps close tabs on his trip expenses, so when the Excalibur tacked a $4.50 “resort fee” on top of his $39 room rate for each night of his stay, the retired librarian sent a complaint letter to the resort’s management.

8 May 2010
By Liz Benston
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