Gaming

Bondholder drops lawsuit against Station Casinos

The Palace Station resort in Las Vegas.

A bondholder challenging Station Casinos Inc.'s plan for a prepackaged bankruptcy filing and debt exchange has dropped his lawsuit against the Las Vegas company, its board of directors and its key executives. Bondholder S. Blake Murchison made headlines Feb. 13 when he sued Station, charging it was not being gentlemanly with a debt exchange offer in which bondholders were asked for steep concessions as part of a proposed prepackaged bankruptcy plan.

11 May 2009
By Steve Green

Room rates to rise from rock bottom

The Strip’s largest casino operator last week reported an uptick in room bookings and fewer convention cancellations. MGM Mirage executives said demand for the company’s hotel rooms is high enough to warrant an increase in room rates, which have plummeted during the downturn. Raising rates in the coming weeks will help profit margins and could lead to a minor business rebound in 2010, they said.

11 May 2009
By Liz Benston

Reports put numbers on reduction of workforce

Many Las Vegas gaming companies have laid off workers or reduced hours to trim their operating budgets. Although companies have been reluctant to quantify such changes, recently issued annual reports shed some light on what has happened to the gaming workforce during this downturn.

11 May 2009
By Liz Benston

Seeking a place at the gaming table

Seeking a place at the gaming table

Getting a new game approved for a casino floor isn’t an easy task — and it’s even harder if you’re a mom-and-pop inventor and not a corporation specializing in developing supplies for the games you produce. But two teams of Las Vegas inventors are defying the odds and stand poised to see their dreams become reality. Here are their stories. The games making their way through the development process: Two Cards High and Play Craps.

10 May 2009
By Richard N. Velotta

Economy changes playing field for UNLV students

UNLV gaming professor Jeff Voyles teaches students recently in one of the most difficult times the industry has seen. His gaming management course examines hotel-casino cash flow, gaming analysis, marketing and an overview of management principles.

The gaming industry has seen dramatic change in recent months. UNLV gaming professor Jeff Voyles would know. Today, he’s among gaming professors teaching students who hope to become future gaming executives and casino managers the skills they need to enter the workforce in one of the most trying times the industry has seen.

9 May 2009
By Amanda Finnegan

Riviera reports quarterly loss

A view of the Riviera on the Las Vegas Strip on Dec. 26, 2007.

Riviera Holdings Corp., owner of the Riviera hotel-casino on the Las Vegas Strip, on Friday reported another quarterly loss. The company said business conditions in Las Vegas remain weak and that it may suffer from delays in construction of the nearby Fontainebleau resort.

8 May 2009
By Steve Green

Bally Technologies reports slight profits drop

Bally Technologies reported a slight drop in profits today when the company cited net income fell 3 percent to $29.3 million in the third quarter of 2009 compared to $30.2 million the same period last year.

7 May 2009
By Amanda Finnegan

Casino win on Strip down 12.2 percent in March

CARSON CITY – Casino winnings on the Las Vegas Strip fell 12.2 percent in March, continuing a string of 15 months of decline.

7 May 2009
By Cy Ryan

Court filings show Four Queens' loss in 2008

The Four Queens hotel-casino in downtown Las Vegas lost about $183,000 in the second half of 2008, newly filed court papers show.

7 May 2009
By Steve Green

Study arms smoking foes

Terrie Price, outside her home in Las Vegas in April, dealt cards for 26 years at Caesars Palace, whose management, she says, "didn't care" about dealers' health. "We've been waiting a long time for this" study, says Price, who vigorously supports an industry-wide smoking ban.

Las Vegas casino dealers are exposed to a host of harmful chemicals through secondhand smoke while on the job, according to a new National Institute for Occupational Safety and Health study. The study, the first to examine the effects of secondhand smoke in Las Vegas casinos, reported that the dealers had traces of a tobacco-specific carcinogen in their urine.

7 May 2009
By Liz Benston

Global Cash Access reports $9M earnings gain

Global Cash Access Holdings, a Las Vegas-based holding company handling a variety of cash transaction services for the casino industry, today reported higher first-quarter earnings resulting from two acquisitions that closed last year.

6 May 2009
By Richard N. Velotta

Boyd Gaming losses narrowing

Boyd Gaming, which operates three downtown Las Vegas properties and four locals resorts in Southern Nevada, narrowed its losses in the first quarter and executives said they liked the trends they were seeing.

6 May 2009
By Richard N. Velotta

Busted slot joint’s rebirth?

The Gambler Casino, once partially owned by Max Baer Jr. of "Beverly Hillbillies" fame, could soon reopen under the Dotty's name.

To call this tiny 39-year-old slot joint, formerly named the Beverly Hillbillies Gambler Casino, dilapidated would be a compliment.

6 May 2009
By Mike Trask

Hard bargaining or bad faith at Wynn? It’s hard to say

As dealers at Wynn Las Vegas enter their third year of bargaining with casino management over a union contract, two words can be found on the lips of both parties: bad faith.

6 May 2009
By Michael Mishak

Four Queens files lawsuit against landlord

Financial problems appear to be growing at the downtown Las Vegas Four Queens and Binion's hotel-casinos, with the Four Queens saying it faces potential insolvency because of a dispute with one of its landlords.

5 May 2009
By Steve Green
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