Gaming

Wynn reports net income falls 90.6 percent in 2Q

Wynn Resorts today reported net income fell 90.6 percent in the second quarter of 2009 due to lower casino revenues and the continuing costs of opening Encore Las Vegas.

Ruling: Wage suits can name executives

Station Casinos now counts itself among a number of Las Vegas gaming companies in or near bankruptcy, ratcheting up fears among thousands of workers concerned for their livelihoods in a fragile economy.

Penn National Gaming reports fall in profit

Casino operator Penn National Gaming Inc. said Wednesday second-quarter profit fell 23 percent, below expectations, due to lower-than-expected results at several properties.

Station Casinos wants out of lease for office space

Now that it's operating under bankruptcy protection, Station Casinos Inc. is seeking approval to get out of a lease for unneeded office space in Las Vegas. Station said the lease was supposed to have a monthly cost initially of $70,207 to $76,717.

Hard Rock ready to welcome guests to new tower

A look at the new Paradise Tower at the Hard Rock Hotel and Casino.

Friends and family are testing the waters at Hard Rock’s new hotel tower this week. They’re testing the water pressure, flicking through the TV channels and making sure those new sheets have just the right number of threads for the Hard Rock’s guests this weekend. Hard Rock will welcome its first guests at its new 490-room Paradise tower come Friday night. The tower opening will mark the first phase of completion in Hard Rock’s $750 million expansion project.

Is the party over for Prive?

Is the party over for Prive?

As a result of the unprecedented enforcement action against Planet Hollywood for allowing a nightclub to run wild, contracts between hotels and their nightclubs are now being rewritten to give the hotels greater authority to lay down the law with nightclub managers.

Prive enlists lawyer with connections in fight for liquor license

The Prive nightclub at Planet Hollywood.

As Prive nightclub seeks to regain its liquor license, it will rely on the formidable skills of attorney Jay Brown, who over three decades has earned a reputation as an influential advocate in local government circles.

About Station Casinos

Founded in 1976, Station has some 13,400 employees in Southern Nevada and 10 major Las Vegas-area hotel-casino properties, including two that are 50 percent-owned with affiliates of the Greenspun family, owner of the Las Vegas Sun.

Station Casinos files for Chapter 11

Las Vegas locals gaming leader Station Casinos Inc. today said it was unable to reach an agreement with creditors on a prepackaged bankruptcy reorganization, and instead announced that it and certain subsidiaries filed regular Chapter 11 bankruptcy reorganization petitions in Reno. The lack of an agreement with creditors means a plan for the controlling Fertitta family and Colony Capital to invest more money in the company in exchange for concessions from lenders is off the table for now -- and that the court will sort out the future of the company's assets and debts.

Harrah's loses appeal for $2.1 million tax refund

CARSON CITY – Harrah’s has lost its appeal seeking a $2.1 million refund on the use tax it paid on four airplanes to transport executives and high rollers.

Big fine establishes hard line on nightclubs

The Prive nightclub at Planet Hollywood.

When posh nightclubs became a big profit center for casinos a few years ago, many wondered how far gaming regulators would go to police activity — where a combustible mix of free-flowing booze and scantily clad patrons create potential, even inevitable, problems. Regulators have a broad mandate to impose fines and revoke the licenses of casinos whose activities are “inimical to the public health, safety, morals, good order and general welfare” or bring “discredit” to the state or gaming industry.

New attorneys assist in Harrah’s probe of high roller’s intoxication claims

Harrah’s Entertainment has retained a national law firm to assist in an internal investigation into allegations that two of its casinos supplied a high roller with a steady flow of alcohol and drugs as he racked up tens of millions of dollars in gambling losses.

Official: Inspection reports falsified

This week, an administrative hearing officer said the county-approved private inspectors hired by MGM Mirage to inspect the Harmon didn’t simply err accidentally, but rather must not have been conducting thorough inspections despite signing documents saying they were.

Pinnacle swings to profit in second quarter

Pinnacle Entertainment today reported a net income of $4.7 million, or 8 cents per share during the second quarter, compared to a loss of $18.1 million, or 30 cents per share, a year earlier, the Las Vegas-based casino operator said today.

Harrah's earnings fall with Las Vegas woes

They came to Las Vegas, but they didn't spend much. That's what Harrah's Entertainment Inc. said today in reporting financial results for the second quarter ending June 30.