Gaming - VEGAS INC

Board recommends licensing of ex-MGM Grand exec for Tropicana post

The state Gaming Control Board today recommended the licensing of a former MGM Grand executive to take over the operation of the fabled Tropicana Hotel Casino. Alex Yemenidjian, who was hand-picked by major shareholder Kirk Kerkorian to serve as president and CEO of the MGM Grand, cleared a major hurdle with today's unanimous licensing vote of the Control Board, which met in Carson City. The board recommendation will be considered for final approval by the Nevada Gaming Commission on June 18.

3 June 2009

By Richard N. Velotta

MGM Mirage to challenge ruling on Macau casino partner

MACAU — A top MGM Mirage executive said Wednesday the gambling giant would challenge a recent U.S. regulatory report calling Pansy Ho, daughter of a famous Macau kingpin, an "unsuitable" business partner for its casino in the Chinese city.

3 June 2009

Associated Press

Hard Rock Hotel bringing on 1,200 workers

The Hard Rock Hotel and Casino is hiring a total of 1,200 employees by the end of the year to accommodate the property's $750 million expansion project.

2 June 2009

By Amanda Finnegan

Trial postponed in Las Vegas Sands-Macau lawsuit

Trial has been postponed on a claim that Las Vegas Sands Corp. owes three men hundreds of thousands of dollars for helping the company gain a gambling license in Macau.

2 June 2009

Associated Press

Despite fiscal problems, Harrah's seeks to expand holdings

Harrah's Entertainment Inc. is losing money as it labors to service its unwieldy $22 billion debt load -- but that's not stopping the company from looking for ways to expand in Macau, Taiwan and Japan.

2 June 2009

By Steve Green

Bill on casino expansion tied to churches dies

CARSON CITY – A bill to allow casino expansion in Las Vegas in a gaming district now blocked by the location of two Catholic churches died in the Senate on Monday.

2 June 2009

By Cy Ryan

Perfect timing helps Icahn group land AC Tropicana

The Icahn group was the only one to submit a bid for one of Atlantic City's largest casinos by the Friday deadline. Sean Mack, the attorney for the conservator who has been overseeing the sale process, said the investors group could be approved as the new owners by a bankruptcy judge by June 12.

1 June 2009

Associated Press

Analyst: Sands execs say they have breathing room

Executives of Las Vegas Sands Corp. have indicated that the casino operator has enough financial breathing room for the next few months, but must show "progress" by the end of the year, an analyst said Monday.

1 June 2009

Associated Press

Even whales feeling pinch of hard times

Baccarat play — the game of choice for the biggest gamblers — is down on the Strip, and casinos have raised cash reserves to offset the losses they incur when big gamblers don’t pay their debts.

1 June 2009

By Liz Benston

New courts will stress treatment of gamblers

The only significant statewide study on the topic, in 2002, showed that about 6.4 percent of the state’s adults were either problem or pathological gamblers — almost one in 15 Nevadans. And Gamblers Anonymous has more active chapters in the Las Vegas Valley than in any other metropolitan area in the world.

1 June 2009

By Sam Skolnik

Fontainebleau executive leaves company

The Las Vegas Strip's beleaguered Fontainebleau resort, still trying to line up financing to finish construction, today announced the departure of a key executive. Glenn Schaeffer left as chief executive officer, president and a member of its board of managers.

29 May 2009

By Las Vegas Sun Staff

Station expects extension in talks with creditors

Wrestling with more than $5 billion of debt and weak cash flow, Station Casinos Inc. of Las Vegas today said it expects key creditors to give it more time to reach an agreement on a financial restructuring.

29 May 2009

By Steve Green

Gaming companies keep an eye on Massachusetts

Wynn Resorts and other casino interests are growing more interested in Massachusetts as that state debates the potential expansion of legalized gambling, the Boston Globe reported today.

28 May 2009

By Las Vegas Sun Staff

Reports link Asian gaming giant to possible MGM Mirage deal

The gaming world was abuzz with discussion Wednesday on whether Malaysian hotel and gaming giant Genting Bhd is interested in doing a deal with MGM Mirage -- potentially for the U.S. company's stake in a casino in Macau.

27 May 2009

By Steve Green

Harrah's to issue $1 billion in debt in private offering

Harrah's Entertainment Inc. has announced plans to issue $1 billion in new debt. It said subsidiaries would issue $1 billion of senior secured notes due 2017 in a private offering exempt from federal securities registration requirements.