Gaming

Wynn Resorts executive leaves company

Wynn Resorts announced today in a regulatory filing that David Sisk, executive vice president and chief financial officer of Wynn Las Vegas, has left the company for reasons that were not disclosed.

17 April 2009
By Amanda Finnegan

Gaming analysts break away to form independent firm

Gaming analysts Bill Lerner, Rich Moriarty and Grant Govertsen have left Deutsche Bank to form Union Gaming Group, an independent gaming industry research firm based in Las Vegas.

17 April 2009
By Liz Benston

Report: MGM, Dubai World reach deal on CityCenter

The CityCenter project on the Las Vegas Strip.

Shares of Las Vegas-based casino resort company MGM Mirage fell early today on a report that two big buyers of its debt have urged the company to correct its balance sheet problems by filing for bankruptcy protection. Shares rebounded this afternoon on reports that MGM Mirage and Dubai World are near an agreement on terms of a proposal to lenders that would secure funding for CityCenter.

17 April 2009
By Steve Green

Visitation improves, but gaming revenue plummets in February

The 8 percent decline in visitation to Las Vegas compared with last year was shallower in February than January, but tourism experts aren’t ready to call it a trend since Strip gaming revenue for the month was worse than the statewide average.

17 April 2009
By Richard N. Velotta

Deadline extended to trade Harrah's notes

The private equity investors that control Harrah's Entertainment Inc. of Las Vegas said Wednesday they've extended the deadline for certain bondholders to swap their notes for cash under a $350 million offer announced last month.

16 April 2009
By Las Vegas Sun Staff

Report: Icahn, equity fund push for MGM bankruptcy

Investor Carl Icahn and private-equity fund Oaktree Capital Management have bought hundreds of millions of dollars of MGM Mirage bonds and last month told the gaming company a bankruptcy is its best option, the Wall Street Journal reported today, citing people familiar with the matter.

16 April 2009
By Las Vegas Sun Staff

New campaign targets locals with casino deals

Tourism and resort executives are hoping to target Clark County residents with their new "Stay and Play Here" campaign. Las Vegas Convention and Visitors Authority President Rossi Ralenkotter, Palms owner George Maloof, Las Vegas Chamber of Commerce President Kara Kelley, Station Casinos Chief Operating Officer Kevin Kelley and New York-New York President Cindy Kiser Murphey announced the new campaign in April 2009.

The Las Vegas Convention and Visitors Authority has partnered with the Las Vegas Chamber of Commerce to sweeten the pot for locals during tough economic times. The two organizations today announced their “Stay and Play Here” campaign to target locals with deals. The campaign’s Web site features special offers for locals in Las Vegas, as well as Mesquite, Laughlin, Boulder City and Primm.

16 April 2009
By Amanda Finnegan

A month after T.I. buy, Ruffin discusses downturn

Phil Ruffin, the Strip’s newest casino owner, weighed in on cash-strapped MGM Mirage, the local economy and his latest casino purchase during a television interview Wednesday night.

16 April 2009
By Amanda Finnegan

Las Vegas Sands makes appointment to board

Las Vegas Sands announced today the appointment of Jason Ader to its board of directors. Ader is the CEO of Hayground Cove Asset Management, an investment management firm he founded in 2003.

15 April 2009
By Amanda Finnegan

In the way of casino giants

The Guardian Angel Cathedral -- seen with its neighbor, the Encore -- is a Catholic church on Cathedral Way.

The Guardian Angel Cathedral has for decades symbolized Las Vegas’ belief that community institutions can flourish alongside its gaming ambitions. Even so, the church now stands in the way of Steve Wynn’s plans to build a casino on the company’s golf course. It’s an unanticipated consequence of a 1997 law that established an unrestricted gaming corridor along Las Vegas Boulevard, while adopting tougher restrictions on casino construction beyond the Strip.

15 April 2009
By Liz Benston

Henderson resort company sees shakeup, moving to N.Y.

A shakeup at Empire Resorts Inc. of Henderson on Tuesday included the immediate resignation of longtime local gaming executive David Hanlon as chief executive officer and the announcement of a plan to move the company headquarters to New York.

14 April 2009
By Las Vegas Sun Staff

Station Casinos, lenders agree to extend deadline

Santa Fe Station is among the casinos included in a proposed reorganization plan. Station Casinos and its lenders agreed to a 30-day extension on a vote of a proposed bankruptcy reorganization plan.

Station Casinos and its lenders have agreed to extend by 30 days a voting deadline on a proposed bankruptcy reorganization plan that would leave the current owners, including the Fertitta family and investment partner Colony Capital, at the company's helm, a company spokeswoman said today. The May 15 deadline gives holders of $2.3 billion in bonds more time to consider Station Casinos' offer to buy back investors' bonds and exchange them with new, discounted notes with extended maturity dates.

14 April 2009
By Liz Benston

Company that planned Strip properties may seek bankruptcy

A New York-based company said Tuesday it may file for bankruptcy protection following the collapse of its plans to build celebrity-themed properties in Las Vegas and other cities. The company owns of a parcel of land at Las Vegas Boulevard and Harmon Avenue, across the Strip from the CityCenter development.

14 April 2009
By Steve Green

TableMax Gaming sues Shuffle Master for patent infringement

TableMAX Gaming Inc. today said it filed a patent infringement lawsuit against fellow Las Vegas-based casino supplier Shuffle Master Inc.

14 April 2009
By Las Vegas Sun Staff

MGM Mirage gets waiver for $70M CityCenter payment

MGM Mirage took another step Monday on the road to finalizing the financing for CityCenter, confirming its banks will allow it to make the next $70 million payment due Friday with or without partner Dubai World.

13 April 2009
By Steve Green
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