Gaming

MGM Mirage to take $1.2 billion charge in quarter

Casino operator MGM Mirage said Friday it will take a charge of about $1.2 billion for the fourth quarter to write off "substantially all" of the goodwill it recognized in the 2005 acquisition of Mandalay Resort Group.

9 January 2009
Associated Press

Tribe, state to sign compact for casino at Idaho border

An Indian tribe has begun going through the preliminary steps to start an Indian casino on the Nevada-Idaho border.

9 January 2009
By Cy Ryan

Las Vegas sees 10 percent drop in visitors

The number of visitors to Las Vegas in November dropped nearly 10 percent compared to a year ago, according to numbers released today by the Las Vegas Convention and Visitors Authority.

9 January 2009
By Tim Richardson

Strip gaming win lowest in five years

Winnings at Strip casinos dropped to a five-year low in November as the resorts recorded their second straight month of double-digit declines. The state Gaming Control Board reported today the gross win at the 41 Strip casinos was $437.6 million, off 16.2 percent from a year ago.

9 January 2009
By Cy Ryan

Lipparelli takes Gaming Control Board post

Mark Lipparelli, a former executive of Las Vegas-based Bally Technologies and Shuffle Master Inc., has been named to the state Gaming Control Board. He replaces Mark Clayton, who informed Gov. Jim Gibbons in November he did not want to be reappointed.

9 January 2009
In Business Las Vegas

Company exec says scaling down is most logical move

MGM Mirage could have built a structurally sound 49-story building, but given the economic climate, the company and its partners decided it wasn’t worth the additional time and money to finish The Harmon as planned, the company’s top executive said Wednesday.

8 January 2009
By Liz Benston

How did CityCenter tower flaws persist?

The Harmon won't open until 2010, but the hotel's exterior will be finished and the building lighted when CityCenter is unveiled this year.

Clark County is investigating the consultants hired by CityCenter owner MGM Mirage to inspect the structural integrity of construction work at the site, after faulty rebar caused massive problems in the project’s Harmon tower.

8 January 2009
By Alexandra Berzon

M Resort licensing gets OK from gaming board

The M Resort is under construction at Las Vegas Boulevard and St. Rose Parkway.

The state Gaming Control Board has recommended licensing approval for what would become the southernmost resort in the Las Vegas Valley.

7 January 2009
By Richard N. Velotta

Vegas Strip casinos face hard 2009

Casino operators are likely to continue to face difficult times on the Las Vegas Strip in 2009, but regional markets could offer a ray of hope, a JPMorgan analyst said Wednesday.

7 January 2009
Associated Press

MGM Mirage cancels CityCenter condo project

The Harmon, center, was designed to rise to 49 floors, with condominiums built above the hotel floors. But the discovery of and attempts to fix a critical mistake in construction have CityCenter developer MGM Mirage deciding to scrap the condo part of the project.

The Harmon Hotel & Spa – originally planned as a 49-story building with some 200 condominiums atop 400 hotel rooms, will no longer offer condominiums and instead will open in late 2010 as a 400-room hotel, MGM Mirage said today. The Harmon, one of six towers at MGM Mirage's CityCenter resort complex under construction on the Strip, had been slated to open in November.

7 January 2009
By Liz Benston,
Joe Schoenmann

National gaming center board names new chairman

The National Center for Responsible Gaming announced Monday Glenn Christenson of Velstand Investments has been named the new chairman of the organization’s board of directors.

6 January 2009
By Amanda Finnegan

Tropicana names president of Vegas resort

Tropicana Entertainment today named veteran gaming executive Ron Thacker as president of Tropicana Las Vegas.

6 January 2009
By Amanda Finnegan

Las Vegas Sands denies report of deal for land

Las Vegas Sands is denying a report from an Israeli newspaper that it will exchange stock to buy 35 acres on the Las Vegas Strip.

6 January 2009
Associated Press

Vegas casinos hold up over holiday

Demand among Las Vegas Strip casino and hotel operators held up well over the New Year's holiday even though room rates had to be lowered to help combat tightened consumer spending.

5 January 2009
Associated Press

CityCenter accepting applications for 12,000 jobs

The $9.2 billion CityCenter project towers over the Strip on the west side of Las Vegas Boulevard. CityCenter announced Monday it is accepting applications for about 12,000 new jobs.

CityCenter is accepting applications beginning today to fill 12,000 positions, the largest employment opportunity available in the country, the company said.

5 January 2009
By Cydney Cappello
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