Gaming

iPhone technology under casinos’ skin

More than a decade after the seminal blackjack strategy book “Beat the Dealer” brought the shadowy art of card counting to the masses, opportunistic blackjack players in the 1970s and 1980s began wearing miniature computers that tracked the value of cards through slight movements of fingers and toes.

23 February 2009
By Liz Benston

Gaming control cuts may hurt state’s bottom line

Audits to see whether Nevada’s biggest casinos are paying all the taxes the law requires will happen less frequently under a proposed staff cut at the Gaming Control Board.

22 February 2009
By Cy Ryan

M Resort next in line for Marnell family

A view of the casino floor at the M Resort in Henderson on Thursday. The new hotel and casino property, under construction at St. Rose Parkway and Las Vegas Boulevard South, is scheduled to open March 1.

Longtime Las Vegas residents will remember the incredible buzz the Rio generated when it opened in 1990. Owned and operated by Marnell Corrao Associates, the Rio was Las Vegas’ first all-suite hotel and its Brazilian theme initially warmed locals before it expanded and branched out to serve other markets. Nearly two decades later, another Marnell – Anthony Marnell III, son of Rio developer Anthony Marnell II – is trying to generate the same buzz at the soon-to-open M Resort.

21 February 2009
By Richard N. Velotta

Black Gaming moves closer to bankruptcy

The company that owns the Oasis, CasaBlanca and Virgin River casinos in Mesquite moved one step closer to bankruptcy this week when it failed to make a $5.6 million interest payment before a 30-day grace period expired Feb. 15.

20 February 2009
By Liz Benston

S&P: Fontainebleau could have trouble making payments

The Fontainebleau Las Vegas resort is expected to have trouble making interest payments once it opens for business this year because of the worsening economy and dim prospects for condo sales, bond rating agency Standard & Poor's said today.

20 February 2009
By Liz Benston

Financier Icahn may offer to buy Tropicana casino

Billionaire financier Carl Icahn may be rolling the dice again on an Atlantic City casino. The former owner of the now-defunct Sands Casino Hotel is among parties who may offer to buy the troubled Tropicana Casino and Resort once it's offered in a bankruptcy auction.

20 February 2009
Associated Press

Man who tried to extort MGM Mirage, Harrah's sentenced

A truck driver convicted of attempting to extort hundreds of thousands of dollars from MGM Mirage and Harrah's Entertainment in exchange for returning confidential casino customer information was sentenced today to 46 months in prison.

19 February 2009
By Mary Manning

Las Vegas Sands faces third shareholder lawsuit

A third lawsuit has been filed on behalf of Las Vegas Sands Corp. shareholders against members of the company's board of directors. The suit levels allegations of mismanagement and violation of fiduciary duty, similar to claims asserted in earlier suits filed in November and January in the same court.

19 February 2009
By Steve Green

Sons of worker killed at Orleans sue Boyd

A new lawsuit charges that officials at the Orleans hotel-casino knowingly ordered employees to violate safety procedures and directed them into dangerous situations, causing the deaths of two workers.

17 February 2009
By Steve Green

Company puts Desert Blue timeshare project on hold

Wyndham's timeshare unit said Tuesday it's suspending construction on its high-profile Desert Blue resort in Las Vegas.

Four days after lodging giant Wyndham Worldwide Corp. reported a huge loss because of the economic slowdown, Wyndham's timeshare unit said Tuesday it’s suspending construction on its high-profile Desert Blue resort in Las Vegas. The Wyndham Vacation Ownership resort near the Rio hotel-casino is planned to consist of 19 stories with 281 condominium-style units. Martin-Harris Construction Co. and its subcontractors had completed the building shell on the 14.75-acre site.

17 February 2009
By Steve Green

Station responds to lawsuit, misses $15.5M payment

Station Casinos issued a prompt response to a shareholder lawsuit filed last week. The company said the lawsuit is without merit because all bondholders are entitled to participate in its exchange offer.

17 February 2009
By Liz Benston

Harrah's hit with class-action lawsuit over debt plan

Caesars Palace, on the left, is one of several Harrah's-owned properties on the Las Vegas Strip.

Add Harrah’s Entertainment Inc. to the list of Las Vegas gaming companies facing class-action lawsuits filed by securities lawyers. Harrah’s was sued by two bondholders who claim a recent debt-exchange deal engineered by Harrah’s benefited some big corporate bondholders while placing others in jeopardy.

16 February 2009
By Steve Green

Lawsuit claims Station 'not acting gentlemanly'

Class-action lawsuits in response to big business deals are common. Uncommon are lawsuits that begin with a quote from Russian novelist Leo Tolstoy.

13 February 2009
By Liz Benston

Station Casinos sued over reorganization plan

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

Two of the attorneys who sued Station Casinos Inc. three years ago over the company’s deal to go private are going after Station again, this time over Station’s plan to get rid of its high-cost debt and reorganize in bankruptcy court.

13 February 2009
By Steve Green

Harrah's seeking $740 million from credit line

Harrah’s Entertainment Inc. disclosed Friday it submitted requests to tap the remaining $740 million of its $2 billion senior secured revolving credit line -- a move one analyst said indicates financial troubles are deepening at the gambling giant.

13 February 2009
By Steve Green
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