Gaming

Judge orders mediation for Fontainebleau, banks

With an unidentified party possibly willing to loan money to the bankrupt Fontainebleau Las Vegas resort, a bankruptcy judge has ordered Fontainebleau and banks it is suing to enter mediation in hopes of resolving their disputes.

19 June 2009
By Steve Green

Businesses file suits claiming Fontainebleau bills went unpaid

Even as the stalled Fontainebleau casino resort tries to reorganize its finances in Miami bankruptcy court, lawsuits over unpaid bills for the project are accumulating in Las Vegas outside of the bankruptcy process.

18 June 2009
By Steve Green

Gaming Commission issues license to CEO with short leash

CARSON CITY – The Nevada Gaming Commission has granted a license to Jon D. Berkley as president and chief executive officer of Las Vegas Gaming, Inc., but it’s going to keep him on a short leash.

18 June 2009
By Cy Ryan

Ex-MGM Grand exec gets OK to run Tropicana

The Nevada Gaming Commission has approved a gaming license for a former MGM Grand executive to operate the Tropicana. Meeting in Carson City today, commissioners voted unanimously to license Alex Yemenidjian and his family trust.

18 June 2009
By Richard N. Velotta

IGT lays off managers to cut costs

International Game Technology has terminated the employment of some management level employees in a cost-cutting initiative, a regulatory filing revealed today.

17 June 2009
By Amanda Finnegan

Judge to expedite Fontainebleau bankruptcy case

Fontainebleau Resort officials said a bankruptcy judge in Miami on Wednesday agreed to expedite the court's handling of a dispute pitting the bankrupt Las Vegas property against bank lenders that cut off funding for the $2.9 billion project, causing it to halt construction.

17 June 2009
By Steve Green

Retail, gaming center planned at Las Vegas Blvd. property

Developers have acquired the site of the old Holy Cow! restaurant and brewery on Las Vegas Boulevard at Sahara Avenue and plan to build a Times Square-like retail and gaming center there.

17 June 2009
By Steve Green

Lenders: Cost overruns led to Fontainebleau loan default

Bank lenders for the first time have publicly disclosed why they declared the $2.9 billion Fontainebleau resort in Las Vegas in default on its construction loan and shut off funding. Tuesday, they cited hundreds of millions of dollars in cost overruns and possible misrepresentations by the hotel-casino developer.

16 June 2009
By Steve Green

MGM Mirage plans hotel in Egypt

MGM Mirage today announced an agreement to bring its MGM Grand hotel brand to Egypt -- the second such deal in a month for the company in the Middle East. Las Vegas-based MGM Mirage and an Egyptian company announced plans to develop the MGM Grand New Giza.

16 June 2009
By Steve Green

Battleship and Clue slot machines on the way

WMS Gaming Inc. today said it secured rights to develop slot machines based on the Battleship and Clue board games.

15 June 2009
By Las Vegas Sun Staff

MGM, Harrah's casinos among those suing ex-Illinois governor

MGM Mirage's Grand Victoria casino sits along the Fox River in Elgin Ill. It's the state's highest-grossing casino and the last to open in Illinois. The casino is among those that filed a lawsuit naming former Illinois Gov. Rod Blagojevich, his campaign fund, race track owner John Johnston and several other race track operators.

Casinos owned by Harrah's Entertainment Inc., MGM Mirage and Penn National Gaming are suing former Illinois Gov. Rod Blagojevich as they continue to fight an Illinois law that requires them to share their profits with the state's ailing horse racing tracks. The racketeering suit was filed Friday in federal court in Chicago by Harrah's Casino-Joliet, Ill. and MGM Mirage's Grand Victoria Casino.

15 June 2009
Staff and wire reports

Will Web poker bust spark fight or flight?

The government’s seizure of millions of dollars from bank accounts used to process online poker transactions is sending shock waves through the Internet gambling community. But insiders disagree on how the action by the Justice Department will affect a controversial activity with millions of American participants.

15 June 2009
By Liz Benston

Amid cost cuts, executives’ pay raises hackles

When Station Casinos last year reported that top executives exercised more than $200 million in stock options triggered by a $9 billion management-led buyout by a private investment company in late 2007, critics attacked the lavish rewards, which made Station bosses the highest paid local executives in 2008.

15 June 2009
By Liz Benston

Gaming pioneer remembered for honesty, education work

Friends and family gather in a ballroom at Harrah's during a memorial for Claudine Williams on Saturday.

Family and friends remembered pioneering casino executive Claudine Williams on Saturday for her honest personality, her loyalty and commitment to education. A memorial service to honor Williams was held Saturday at Harrah’s main ballroom. More than 100 family members and friends gathered at the casino to honor Williams, who died May 13 after a long illness at the age of 88. Williams was the first woman to own a casino, as well as the first to be inducted into the Nevada Gaming Hall of Fame.

13 June 2009
By Jinae West

Tropicana Atlantic City sold to Carl Icahn-led group

Tropicana Atlantic City

A New Jersey bankruptcy court approved the sale of the Tropicana Atlantic City to a group of investors lead by Carl Icahn today.

12 June 2009
By Amanda Finnegan
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