Gaming

Adelson backs business plan with talk, cash

There are plenty of gambling metaphors that fit the impressive bailout of Las Vegas Sands last week by its chief executive, Sheldon Adelson.

17 November 2008
By Liz Benston

Insiders see doubts over diploma as career drag

State gaming regulators are investigating the academic credentials of MGM Mirage Chief Executive Terry Lanni, who may have embellished his resume with a nonexistent MBA.

16 November 2008
By Liz Benston

Lanni exits at perilous time as industry faces hardship

Terry Lanni, former chairman of the board and chief executive of MGM Mirage, poses at the Bellagio in 2007.

Terry Lanni’s decision to retire as chief executive of MGM Mirage will be viewed with some concern, if only because he is one of the industry’s most respected leaders.

16 November 2008
By Liz Benston

Global Gaming Expo begins next week

Casino execs and gaming professionals will be taking a look at the newest trends in the industry when the Global Gaming Expo hits the Las Vegas Convention Center next week.

14 November 2008
By Amanda Finnegan

IGT layoffs begin this week

Hurt by the slumping economy, the world's No. 1 slot machine manufacturer began laying off about 500 workers this week as part of a companywide cost-cutting effort that began a few months ago.

13 November 2008
By Liz Benston

MGM Mirage exec to retire Nov. 30

MGM Mirage chairman and chief executive officer Terry Lanni is retiring, the company announced this afternoon. The resignation is effective Nov. 30, but Lanni will remain a member of the company's board of directors.

13 November 2008
Staff and wire reports

Two Las Vegas casinos robbed

Two Las Vegas casinos were robbed in the early morning hours today and Metro Police are searching for two separate suspects.

13 November 2008
By Mary Manning

Las Vegas Sands to fire up to 11,000 Macau workers

MACAU — Struggling casino operator Las Vegas Sands Corp. will lay off as many as 11,000 workers after a cash crunch forced the company to halt construction on multibillion dollar projects in the Chinese gambling city, a top executive said Thursday.

13 November 2008
By JEREMIAH MARQUEZ, Associated Press

State wants a look at casinos’ finances

An unprecedented borrowing and building binge, followed by the biggest consumer recession in the modern casino era, has regulators concerned. So far, however, Nevada casinos are meeting minimum bankroll requirements.

In light of the credit crunch and economic downturn, Nevada regulators are seeking information from top gaming companies about their financial health. The Gaming Control Board's actions raise an important question during these troubled economic times: What role do regulators play in the financial decisions of gaming companies, or, for that matter, in management decisions in general? The answer: very little.

13 November 2008
By Liz Benston

Bush administration moves on Internet gaming ban

The Bush administration released long-awaited final rules this afternoon to ban Internet gaming -- apparently undeterred by an article in today’s Washington Post that raised questions about the White House’s decision to seek assistance from a former National Football League lobbyist who had worked against online gaming.

12 November 2008
By Lisa Mascaro

Las Vegas sees 10 percent drop in visitors

Visitors jam the Las Vegas Strip in this file photo.

The number of visitors to Las Vegas dropped 10 percent in September compared to the same month last year. The Las Vegas Convention and Visitors Authority said 2,936,499 people visited the city in September. That's down from 3,268,125 visitors in September 2007.

12 November 2008
By Tim Richardson

Gaming win falls for ninth straight month

For the ninth straight month, the gaming win fell on the Strip and statewide. The 41 casinos on the Strip reported a combined gross win of $525.1 million, down 5.1 percent from the same month of a year ago.

12 November 2008
By Cy Ryan

Aliante Station opens its doors

Aliante Station Casino and Hotel in North Las Vegas.

Station Casinos opened the doors Tuesday night of its latest venture, Aliante Station.

11 November 2008
By Amanda Finnegan

Macau leader: No plans to help Sands' financing

Macau leader: No plans to help Sands' financing

11 November 2008
Associated Press

Idea of lower gambling age will be getting gentle push

Nevada’s top gaming regulator says he’ll ask state legislators whether they have any appetite to lower the minimum gambling age from 21 to 18 as a way to drum up state gaming revenue during the recession.

11 November 2008
By Richard N. Velotta
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