Gaming

S&P raises outlook for gaming supplier, cites possible casino demand increase

Debt rating company Standard & Poor's has lifted its outlook for IGT on the belief that casinos will start buying more slot machines and related gaming equipment.

7 May 2010
By Steve Green

Men plead guilty to conspiracy to sell counterfeit slot machines

Two men charged with making and selling counterfeit slot machines and unauthorized gambling software pleaded guilty Thursday in a Las Vegas courtroom.

6 May 2010
By Liz Benston

Las Vegas Sands narrows loss in first quarter

Las Vegas Sands said stronger casino revenue and efficiency initiatives across its properties helped to narrow its loss during the first quarter of 2010. The Las Vegas-based gaming operator reported a net loss of $28.9 million, or 4 cents per share.

6 May 2010
By Amanda Finnegan

Report: Casino revenue fell 5.5 percent last year

A view of the Las Vegas Strip, which has suffered during the economic downturn.

The U.S. commercial casino industry saw its revenue drop for a second straight year, according to survey results released today by the American Gaming Association.

6 May 2010
By Amanda Finnegan

CityCenter writedown pushes MGM Mirage to 1Q loss

MGM Mirage today said it lost $96.7 million in the first quarter -- a number in line with an April 14 announcement that the gaming company would post a loss on lower revenue.

6 May 2010
By Steve Green

Lawyers question Station officials, try to show reorganization plan unfair

If the reorganization plan for bankrupt Station Casinos Inc. is approved and carried out, senior executives will be free to jump ship. And at a hearing in bankruptcy court in Reno, it was revealed that the Wild Wild West hotel-casino was a money loser.

5 May 2010
By Cy Ryan

Hard Rock Hotel owner reports higher earnings at Las Vegas resort

Earnings more than doubled at the Hard Rock Hotel and Casino during the first quarter, one of the property’s joint-venture partners reported today.

5 May 2010
By Amanda Finnegan

Gaming execs: Las Vegas business showing signs of improvement

The check-in lobby is shown at the new HRH tower at the Hard Rock Hotel in Las Vegas Monday, Dec. 28, 2009.

Operators of Las Vegas' Hard Rock Hotel say the free fall on hotel rates has ended in other properties run by the Morgans Hotel Group in other cities and a similar pattern is emerging in Las Vegas. Frederick Kleisner, CEO and a director for New York-based Morgans, told the state Gaming Control Board today that the company has seen a pattern of event-driven demand.

5 May 2010
By Richard N. Velotta

CityCenter contractor critical of MGM Mirage in letter to Gibbons

The dispute at CityCenter escalated this week when general contractor Perini launched a public relations campaign targeting MGM Mirage.

5 May 2010
By Steve Green

Station Casinos gets extension on sole right to draft bankruptcy plan

Station Casinos is getting a little extra time as the exclusive company or group to draw up a reorganization plan in its $6.6 billion bankruptcy case. U.S. Bankruptcy Court Judge Gregg Zive gave the Las Vegas casino company until mid July to exclusively put forth a plan on how to emerge from its debt.

4 May 2010
By Cy Ryan

Fremont Street Experience operator sues Plaza hotel

The Fremont Street Experience and Plaza Hotel in downtown Las Vegas are shown.

The company that operates the Fremont Street Experience sued the owner of the Plaza hotel Monday for alleged nonpayment of a required monthly assessment to help manage the downtown attraction.

4 May 2010
By Steve Kanigher

Station Casinos reaches settlement in employee wage suit

A settlement has been reached in a suit filed on behalf of thousands of current and former employees of Station Casinos who claimed they were shortchanged.

4 May 2010
By Cy Ryan

Locals casino investors show interest in Station Casinos assets

Operators and investors in a Henderson locals casino say they're interested in acquiring some of the assets that Station Casinos Inc. plans to auction in its bankruptcy case.

4 May 2010
By Steve Green

Boyd Gaming returns to profit, notes improving economy

Boyd Gaming swung to a profit during the first quarter of 2010, citing improving business trends in some of its markets. The casino operator reported net income of $8.4 million.

4 May 2010
By Amanda Finnegan

Las Vegas slot machine company loses appeal in DUI death

CARSON CITY – The Nevada Supreme Court has upheld an $8.2 million judgment against a Las Vegas slot machine company in connection with the traffic death of a woman in March 2001.

3 May 2010
By Cy Ryan
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