Gaming

The state of our engine

Last year, Las Vegas gaming revenue fell to 2005 levels. No industry wants to go backward. But considering the stock market has plunged to 1997 levels and homes may take decades to return to their peak values of a couple of years ago, three years of gaming growth seems like a small hit in this economy.

1 March 2009
By Liz Benston

M Resort set for 10 p.m. opening

The Beer Bar boasts an impressive number of beers on tap at the M Resort in Henderson Thursday, February 19, 2009. The new hotel and casino property, under construction at St. Rose Parkway and Las Vegas Boulevard South, is scheduled to open March 1.

The M Resort will open its doors at 10 p.m. tonight as the newest addition to the casino and resort scene in the Las Vegas Valley.

1 March 2009
By Amanda Finnegan

M Resort banking on reasonable prices in tough economy

As of Sunday, residents will have a new place to eat, rest and play south of the Strip. M Resort opens its doors with all nine of the property-owned restaurants and five bars serving guests, a full-service spa and 92,000 square feet of indoor and poolside gaming.

28 February 2009
By Jeff Pope

MGM Mirage wants to tap $4.5 billion credit

Casino operator MGM Mirage said Friday it wants to tap $842 million of its $4.5 billion senior revolving credit agreement due to capital market and economic volatility.

27 February 2009
Associated Press

Adelson disputes reports, says Singapore resort on track

Las Vegas Sands Corp. today disputed reports in the media in Singapore that it faces significant cost overruns for its $5.4 billion resort under construction there.

27 February 2009
By Las Vegas Sun Staff

Harrah's wants class-action suit over debt swap dismissed

Attorneys for Harrah’s Entertainment Inc. are seeking dismissal of a class-action lawsuit challenging the hotel and casino giant’s recent debt-swap deal.

27 February 2009
By Steve Green

Las Vegas Sands' stock jumps

The stock of gaming giant Las Vegas Sands Corp. jumped 33 percent today as investors weighed news involving new analyst opinions and a dispute over a ferry that the company uses to bring gamblers from Hong Kong to its properties in the Chinese district of Macau.

26 February 2009
By Steve Green

Boyd Gaming reports $220.8 million quarterly loss

Boyd Gaming Corp., the Las Vegas company interested in buying part or all of competitor Station Casinos Inc., today reported a quarterly loss from continuing operations of $220.8 million, or $2.51 per share, compared to a profit of $31 million, or 35 cents per share, in the same period last year.

26 February 2009
By Steve Green

Wynn: Obama’s remarks bad for convention business

Steve Wynn touched on more than just finances during Tuesday’s Wynn Resorts earnings call. The casino owner joined city officials in their criticism of President Obama’s remarks on corporations spending taxpayer dollars in Las Vegas.

26 February 2009
By Amanda Finnegan

M Resort dares to be different

With an emphasis on customer service, employees receive training Thursday at the M Resort in Henderson. The hotel, set to open Sunday at St. Rose Parkway and Las Vegas Boulevard South, is more intimate than its counterparts at about 400 rooms, and value and patron experience are its focuses.

Built on a hill with a dramatic view of the Las Vegas Valley, the M Resort features a television studio for live cooking shows, an on-site pharmacy, a rooftop restaurant, the world’s largest mother of pearl ceiling and a modern design of inlaid wood and cantilevered glass. But eye candy won’t sustain the $1 billion M Resort, which started construction two years ago when Las Vegas was booming and opens Sunday on the southeast corner of St. Rose Parkway and Las Vegas Boulevard South amid a recession with no end in sight.

25 February 2009
By Liz Benston

Wynn reports loss in fourth quarter

The Encore is shown to the left of the Wynn Las Vegas on the Strip.

Wynn Resorts today reported it fell to a fourth quarter loss because of a $98.8 million tax expense in the quarter.

24 February 2009
By Amanda Finnegan

Boyd makes play for Station properties

The Texas Station and the Fiesta are part of the package that Boyd Gaming offered to purchase from Station Casinos, which is on the verge of bankruptcy, for $950 million.

Boyd Gaming has long sought to keep pace with Station Casinos — its more aggressive and, until recently, more profitable competitor in the suburban Las Vegas casino business — with mixed results. With Station facing imminent bankruptcy court filing, Boyd, the No. 2 locals casino company, has found an opening. On Monday, Boyd pounced with a $950 million offer for most of Station’s casinos, including its Texas, Aliante, Santa Fe and Green Valley Ranch Station casinos and its two Fiesta properties.

24 February 2009
By Liz Benston

Companies sue over failed poker tournament

Plans by two companies to launch a new celebrity poker tournament have fallen apart, with each company suing the other over the collapse of their deal.

24 February 2009
By Steve Green

Boyd Gaming offers to buy Station

Texas Station was opened in the mid-90s by Station Casinos.

Boyd Gaming is offering to purchase Station Casinos as part of a reorganization plan or a bankruptcy auction. In a letter delivered to Station's board of directors today, Boyd Chief Executive Officer Keith Smith said his company is prepared to offer about $950 million for the company's "OpCo" casinos.

23 February 2009
By Las Vegas Sun Staff

Letter from Boyd Gaming to Station Casinos

See the letter from Boyd Gaming to Station Casinos.

23 February 2009
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