Gaming - VEGAS INC

Penn National Gaming posts fourth quarter loss

Penn National Gaming today posted a fourth quarter loss of $378.6 million, compared to a $32.2 million profit the company saw in the comparable period for 2007.

5 February 2009

By Amanda Finnegan

Wynn Resorts rating, price target cut by analysts

Wynn Resorts Ltd.'s decision to cut Las Vegas workers' pay and eliminate 2009 bonuses, combined other actions, led an analyst to slash the casino operator's price target and another to lower its rating Wednesday.Shares of the Las Vegas-based company slid $1.92, or 6.8 percent, to $26.86 in morning trading. The stock reached a fresh 52-week low of $25.14 earlier in the session.

4 February 2009

Associated Press

Philanthropist allegedly owes $14.7 million to Rio, Caesars

In its largest criminal case ever, the district attorney’s bad check unit is seeking a felony arrest warrant for a high-rolling philanthropist who owes $14.7 million in Las Vegas gambling debts.

4 February 2009

By Jeff German

Station Casinos unveils restructuring plan to appease creditors

Station Casinos on Tuesday announced a restructuring plan aimed at strengthening the company’s financial position and keeping lenders at bay.

3 February 2009

By Liz Benston

Wynn announces salary reductions, reduced work weeks

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

Wynn Resorts today announced a cost-reduction program for its Las Vegas resorts that includes salary reductions for salaried employees, reduced work weeks for full-time hourly workers, the elimination of 2009 bonuses and a suspension of the company match to employee 401(k) plans.

3 February 2009

By Liz Benston

Bally Technologies sees profits rise in quarter

Despite the difficult economic climate, gaming supply company Bally Technologies this afternoon reported a 37 percent increase in net income for the quarter.

3 February 2009

By Amanda Finnegan

Wells Fargo defends, then reconsiders Vegas junket

Wells Fargo & Co. abruptly reconsidered a pricey Las Vegas casino junket Tuesday after a torrent of criticism that it was misusing $25 billion in taxpayer bailout money.

3 February 2009

Associated Press

Tropicana hires branding firm to focus on value

Tropicana Entertainment plans to reposition itself as a value-oriented company, and it has hired some help to do so. The company, which owns Tropicana Las Vegas, is bringing in branding company Hornall Anderson Design Works to help define the Tropicana.

3 February 2009

By Amanda Finnegan

Gaming supply company names new CEO

Las Vegas-based gaming supply company Shuffle Master announced today the retirement of chief executive officer Mark Yoseloff and the appointment of Timothy Parrott as his successor.

2 February 2009

By Amanda Finnegan

Sale of Tropicana in Atlantic City stalls

While the recession is fueling price wars in Las Vegas, an Atlantic City casino has bigger problems due in large part to the depressed economy.

2 February 2009

By Liz Benston

Las Vegan wins grudge suit against Tao security

Las Vegas resident Jim Morrison paid thousands of dollars for a skybox at the Tao nightclub inside the Venetian. When an inebriated Morrison refused to tip the club’s security guards, the guards became violent, Morrison claimed.

31 January 2009

By Liz Benston

Outdoor events at M Resort get OK from planners

The M Resort received unanimous approval from the Henderson Planning Commission on Thursday night to hold outdoor events and live entertainment.

31 January 2009

By Jeremy Twitchell

Reports: Gaming revenue down, casino debt climbing

More bad news affecting Las Vegas' economy came out of two reports released Friday: Financial analysts are saying 2008 gaming revenues for Nevada and the rest of the country are down and that Las Vegas casinos are piling up significantly more debt.

30 January 2009

By Amanda Finnegan

Bally Technologies garners prestigious award

Bally Technologies Inc. of Las Vegas, which sells slot machines and casino management systems to the gaming industry, said it has won the prestigious 2009 International Gaming Award for best customer service and support.

29 January 2009

By Las Vegas Sun Staff

Slot machine supplier says business is steady

Casino slot machine supplier WMS Industries Inc. today reported a higher quarterly profit and said it expects its business to remain steady this fiscal year despite a slowdown in orders affecting other game suppliers.