Gaming

Harrah's gets OK for Planet Hollywood purchase; job cuts planned

The Planet Hollywood resort on the Las Vegas Strip.

Harrah's received preliminary state approval to acquire Planet Hollywood today, with company executives telling gaming regulators they plan to cut the property's workforce by less than 5 percent. The Gaming Control Board recommend approval of the deal.

3 February 2010
By Cy Ryan

Ameristar reports loss in fourth quarter

Las Vegas-based casino operator Ameristar Casinos reported a net loss for the fourth quarter of 2009 due to a bridge closure that limited access to its Ameristar East Chicago property and overall recessionary market pressures, the company said today in its quarterly report.

3 February 2010
By Amanda Finnegan

State Supreme Court throws out mother, daughter slot cheating convictions

CARSON CITY — A mother and a daughter, each convicted of more than 30 counts of slot cheating in casinos in Clark County, have drawn some relief from the Nevada Supreme Court.

3 February 2010
By Cy Ryan

MGM Mirage disputes N.J. regulators’ authority to vet its partner in Macau

Casino billionaire Stanley Ho and daughter Pansy Ho attend a groundbreaking ceremony for an MGM Mirage casino in 2005 in Macau.

When regulators said last year that MGM Mirage needed to cut ties with an “unsuitable” business partner in China, the casino giant said it would defend itself against the allegations raised in New Jersey.

1 February 2010
By Liz Benston

Ex-Vegas casino exec among group to operate N.Y. video lottery

ALBANY, N.Y. - New York Gov. David Paterson said Friday that he and legislative leaders have chosen a consortium that includes several builders and a former Las Vegas casino executive to install and operate video lottery terminals at Aqueduct Racetrack in Queens.

29 January 2010
Associated Press

Judge to Harrah's: Turn over records on high roller's intoxication claims

Terrance K. Watanabe, left, of Omaha, Neb., leaves the Regional Justice Center following his arraignment in Las Vegas on May 20, 2009, accompanied by sister Pam Watanabe-Gerdes.

A Clark County District Court ruled today that Harrah’s Entertainment must turn over records to attorneys representing a high roller who allegedly owes $14.7 million in gambling debts.

29 January 2010
By Liz Benston

Bondholders file appeal over Herbst reorganization plan

The Prim Valley Resort and Casino.

Bondholders standing to lose $362 million in the Herbst Gaming Inc. bankruptcy case on Thursday appealed a Nevada bankruptcy judge’s approval of Herbst’s reorganization plan.

28 January 2010
By Steve Green

Super Bowl betting expected to increase this year

As far as Nevada is concerned, the 2006 Super Bowl comes in as the greatest ever. Super Bowl XL, which paired the Pittsburgh Steelers and the Seattle Seahawks, generated a record $94.5 million worth of sports wagers in the state. At least one prominent sports book director in town believes this year’s game between the Indianapolis Colts and New Orleans Saints could surpass that total.

28 January 2010
By Case Keefer

Bally Technologies reports small drop in profit

Bally Technologies saw a slight drop in profit during the second quarter of 2010, the company reported today.

27 January 2010
By Amanda Finnegan

Carl Icahn gets OK for Fontainebleau at bankruptcy hearing

The hulking shell of Fontainebleau sits dark on the Strip. Construction was halted on the resort in summer 2009 after lenders pulled $800 million in financing.

The sale of the Fontainebleau Las Vegas to Carl Icahn was approved during a bankruptcy hearing in Miami today. Bankruptcy Judge A. Jay Cristol approved the sale at about 8 a.m. Icahn emerged as the only qualified bidder last week.

27 January 2010
By Amanda Finnegan

Bankruptcy judge urges Station Casinos, creditors to negotiate

RENO – After six hours of arguments, a federal bankruptcy judge advised Station Casinos and unsecured creditors to hold negotiations over a $2.3 billion debt, rather than face legal action.

25 January 2010
By Cy Ryan

Las Vegas Sands executive gets $200,000 raise

A Las Vegas Sands executive is getting a salary increase, according to a Securities and Exchange Commission filing today.

25 January 2010
By Las Vegas Sun Staff

Debt-free, Tropicana sees light after bankruptcy

Less than two years after its bankruptcy filing, Tropicana Entertainment’s debt has been wiped clean, and the company’s new owner, billionaire Carl Icahn, is injecting $150 million to pay creditors and upgrade properties.

25 January 2010
By Liz Benston

Photos: Tropicana Las Vegas sees $125 million facelift

The Paradise Tower rooms at Tropicana Las Vegas have been redone and are expected to open this spring.

The Tropicana Las Vegas is in the midst of an overhaul and the head-to-toe makeover is starting to take shape.

25 January 2010
By Amanda Finnegan

Las Vegas may be most tourism-dependent city in U.S.

We all know Southern Nevada is dependent on tourism, but a new report suggests that it’s the most tourism-dependent economy in the United States.

22 January 2010
By Richard N. Velotta
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