Gaming - VEGAS INC

Gamblers try their luck on Friday the 13th

Gene Gabaldon plays a few dollars on a Megabucks machine at the South Point Casino on Friday, Feb. 13. Gabaldon said he didn't have any superstitious reasons not to gamble on Friday the 13th because to him, it's just like any other day.

If Friday the 13th is an unlucky day, there was no telling it in local casinos today. The afternoon at MonteLago Casino was moderately busy, pit boss Harry Spero said. It appeared some gamblers opted to stay home while others viewed the day as a good omen. One couple in his casino had already won $1,200, Spero said. The day's big loser made no reference to Friday the 13th, he said.

13 February 2009

By Dave Clark

Regulators keep tabs on Station, proposed restructuring

Nevada gaming regulators, now keeping a closer watch on Station Casinos, say its financial woes aren’t causing any serious regulatory concerns, even though Station landed on a national magazine’s list of companies that may not survive 2009.

13 February 2009

By Richard N. Velotta

Director steps down from gaming supply company

Las Vegas-based gaming supply company Shuffle Master added to its list of changes in corporate leadership roles on Thursday. The company announced that Chris Philibbosian will step down as director of the company, effective immediately.

12 February 2009

By Amanda Finnegan

Las Vegas Sands swings to loss in fourth quarter

The economic downturn was felt at Las Vegas Sands in the fourth quarter, as the owner of the Venetian and Palazzo on the Strip reported a loss.

11 February 2009

By Amanda Finnegan

Gaming decline in 2008 falls at record level

Gaming win took a tumble in 2008 in Nevada, with casinos on the Strip posting a 10.6 percent loss.

Nevada casinos saw their winnings slide 9.7 percent in 2008, the biggest drop in state history. There have been only three declines in gaming revenue since 1955 “and this is the worst ever,” said Frank Streshley of the state Gaming Control Board. The other two declines in gaming revenue were a 1.3 percent drop in 2001 and a 0.3 percent decline in 2002. Casinos on the Strip fell 10.6 percent, the biggest drop since the 1980s in a market that has had an average growth of 5.2 percent in the last decade.

11 February 2009

By Cy Ryan

MGM, Wynn Resorts slip on downgrades

The troubles casino operators face in Las Vegas is the worst the Strip has ever seen, an analyst said Tuesday as he lowered ratings on MGM Mirage and Wynn Resorts Ltd.

10 February 2009

Associated Press

Ameristar Casinos announces 2008 fourth-quarter loss

Ameristar Casinos reported today a fourth quarter loss of $101.1 million, compared to a net income of $8.2 million in the comparable period of 2007.

10 February 2009

By Amanda Finnegan

Image makeover of Tropicana will stress Strip resort’s value

The Tropicana hotel-casino on the Las Vegas Strip.

Can the firm that helped Starbucks launch the Frappucino — the Coke of blended coffee drinks — help the owner of the Tropicana hotel and casino? Tropicana Entertainment, which has some work to do in the image department, hopes so.

10 February 2009

By Liz Benston

Venetian hit with class-action suit on overtime pay

A Las Vegas attorney has filed a class-action lawsuit on behalf of current and former banquet servers who claim the Venetian resort failed to pay them all of the overtime wages they are due.

10 February 2009

By Steve Green

Culinary parent union Unite Here to remain unified

The Unite Here executive board voted Monday afternoon to remain unified after General President Bruce Raynor proposed a divorce. Unite Here is the parent union of Culinary Workers Local 226, the largest and most powerful union in Nevada.

9 February 2009

By Michael Mishak

Bondholders’ issue: Who best to run Station?

Kicking off the grand-opening celebration of Aliante Station Casino and Hotel in November 2008, colorful fireworks illuminate the northern sky above hundreds of spectators anxiously awaiting the doors to open.

Station Casinos bondholders are being asked to approve a prepackaged bankruptcy restructuring deal that involves exchanging their bonds for others worth less money, with a cash sweetener. Bondholders could accept the deal, expediting the court process and keeping the Fertitta family at the helm of the company. Or they could reject it and force the company into traditional bankruptcy, where creditors are on their own.

9 February 2009

By Liz Benston

Adaptation or 'disaster'?

MGM Mirage argues the Harmon's diminished height will scarcely be visible from the street. But architects not associated with the project say CityCenter’s grand and gracious addition to the Las Vegas skyline has been compromised.

8 February 2009

By Joe Brown

Hard Rock Hotel expansion hits another milestone

Construction workers prepare to hoist an evergreen tree and American flag atop the South Tower at the Hard Rock Hotel and Casino Friday morning. The topping off was a milestone in the resort's $750 million expansion project.

The Hard Rock Hotel and Casino celebrated another step in its $750 million expansion project Friday when construction workers hoisted the highest piece of the structure atop the South Tower. The new 15-story tower will separate itself as the resort's all-suite tower, featuring 374 suites and eight “spa villas.” Crowning the tower will be seven penthouse suites.

6 February 2009

By Amanda Finnegan

County wants proof CityCenter structures are free of defects

MGM Mirage's $9 billion Strip-side CityCenter project, encompassing seven buildings, continues rising Thursday across Interstate 15 from Panorama Towers.

Clark County has ordered MGM Mirage to verify that CityCenter’s towers are structurally sound six months after significant structural defects were found in one of seven buildings at the company’s project. The problems were repeatedly missed by third-party private inspector Converse Consultants, hired by MGM Mirage to ensure the complicated tasks were properly executed.

6 February 2009

By Alexandra Berzon

A one-man wrecking crew

Although much of the debate over Nevada’s next two-year budget has focused on Gov. Jim Gibbons’ proposal to slash 36 percent from higher education, In Business Las Vegas reporter Richard N. Velotta reminded us that tourism, parks and gaming would also suffer under the governor’s plan.