Will anyone mistake a neighborhood video poker bar in Henderson with the big Mystic Lake Casino Hotel near Minneapolis? That question was raised Wednesday when the owner of the 600-room Mystic Lake Casino Hotel in Minnesota filed a trademark lawsuit against the owner of the Mystic Lodge Casino at 920 S. Boulder Highway in Henderson.
Facing lawsuits over unpaid bills, the owner of the closed Trader Vic's restaurant in Las Vegas filed for Chapter 7 bankruptcy liquidation last week. The Polynesian-themed Trader Vic’s opened in 2007 in the Miracle Mile Shops at Planet Hollywood.
Isle of Capri would manage resorts if Station loses them in bankruptcy
Wednesday, Jan. 6, 2010
St. Louis-based Isle of Capri Casinos Inc. on Wednesday confirmed reports by Debtwire that Isle has agreed to manage four Station Casinos Inc. properties should they be spun out of Station’s bankruptcy case.
Magician Steve Wyrick’s plan to re-open his theater and show at the Miracle Mile Shops in Las Vegas appears to have hit a snag, with the Miracle Mile Shops now suing Wyrick over past-due rent.
A lawsuit seeking class-action status was filed Sunday in behalf of homeowners, property owners and investors against Credit Suisse AG, claiming the bank engaged in predatory lending practices at Lake Las Vegas and other resort developments during the boom years of the 2000s.
Facing lawsuits filed by lender Bank of America, the owner of United Hyundai over the New Year's weekend abruptly closed the dealership at 2025 E. Sahara Ave. in Las Vegas.
Investors moved Dec. 17 to seize control of Village Square, a Las Vegas shopping center, charging its owner has failed to turn over rent to the investors as required.
A Las Vegas-area woman gave birth to a premature baby who died after University Medical Center failed to properly screen and treat the woman while she was in labor, a federal lawsuit filed Wednesday charges.
Construction companies are agitating to be paid for work on the Shops at Summerlin Centre regional shopping mall -- and one says the mothballed project is losing value as its exposed steel superstructure deteriorates due to exposure to the weather.
Indices show home prices are down 55.4 percent from 2006 peak
Tuesday, Dec. 29, 2009
Las Vegas-area home prices continued to fall through October and among big U.S. cities, Las Vegas "remains the one market that has not seen a glimmer of hope so far this year." That's according to the closely-followed Standard & Poor's/Case-Shiller Home Price Indices, which were issued today and found that nationwide, the annual rate of decline in home prices improved compared to the September report.
Bondholders say 2007 deal left gaming company crippled with debt
Tuesday, Dec. 29, 2009
Station Casinos Inc.'s bondholders asked the company's bankruptcy court for permission to sue the company over the leveraged-buyout deal that took Station private, charging the transaction crippled the company with debt.
The Nevada Financial Institutions Division and a private insurer are working with ailing Silver State Schools Credit Union to bolster its finances, officials said Thursday.
An investment group including South Point hotel-casino owner Michael Gaughan, the Toti family and Randy Black Sr. would control Mesquite hotel-casino operator Black Gaming under a pre-packaged bankruptcy plan for Black Gaming announced on Wednesday.
The hip, nongaming Artisan Hotel & Spa in Las Vegas has agreed to be foreclosed on by a lender. Struggling with nearly $8 million in debt, the 64-room property is a locals favorite and is known for its lounge entertainment and fine art collection.
Consultants hired by Station Casinos Inc. are backing up Station’s assertions that a sale-leaseback deal involving four of its Las Vegas hotel-casinos was legitimate.
The owner of the Las Vegas Review-Journal sued three companies this month, charging they’re infringing on its trademarked term “The Best of Las Vegas.”
Hurt by too much capacity, even as demand improves, the gaming industry faces another tough year in 2010, Standard & Poor’s Equity Research reported Tuesday. “Gaming fundamentals continue to be poor,” S&P said.
Talk show host Montel Williams has been sued by a company that says it invested in his new poker league and now wants its money back. The International Team Poker League is a series of reality TV poker tournaments.
Boyd still pursuing $2.45 billion acquisition of Station Casinos
Monday, Dec. 21, 2009
Boyd Gaming Corp. of Las Vegas on Monday said it amended a bank credit facility to give it more flexibility as it pursues growth options including its proposed $2.45 billion acquisition of Station Casinos Inc.
Company's radio shows include those hosted by Don Imus, Perez Hilton, Mike Huckabee
Sunday, Dec. 20, 2009
Las Vegas based Citadel Broadcasting Corp., the nation's third-largest radio station owner, filed for Chapter 11 bankruptcy protection Sunday to restructure nearly $2.5 billion in debt.
Investors moved Thursday to seize control of a prominent western Las Vegas shopping center, charging its owner has failed to turn over rent to the investors as required.
Boyd Gaming Corp. of Las Vegas today made another offer to buy Station Casinos Inc. -- this one for $2.45 billion for the company with 18 casinos and hotel-casinos.
A big seller of discount show tickets to tourists on the Las Vegas Strip has been hit with an antitrust lawsuit filed by a competitor. VegasTix4Less, which has five locations in Las Vegas and California selling discount Las Vegas show and tour tickets, filed suit in U.S. District Court in Las Vegas on Monday against Tix4Tonight LLC and its parent Tix Corp. of Studio City, Calif.
Strip resort not sure when towers might reopen after holidays
Tuesday, Dec. 15, 2009
The Sahara hotel-casino in Las Vegas is temporarily closing two of its three hotel towers and its buffet, citing slow business during the holiday season. Verena King, a spokeswoman for the company with Preferred Public Relations, couldn't immediately say Tuesday how many rooms at the 1,720-room property would be affected; or how many jobs would be affected. "If the demand did increase, then more rooms would be made available (at the closed towers)," King said.
Fairfield Residential LLC, which owns apartment complexes in Las Vegas and around the nation, and 14 subsidiaries filed for Chapter 11 bankruptcy protection Sunday in Delaware after defaulting on debt obligations. The San Diego-based company plans to sell of some of its assets.
Attorneys for Wynn Las Vegas are seeking dismissal of a lawsuit claiming its casino workers are exposed to dangerous second-hand tobacco smoke. The lawsuit was filed Oct. 20 in federal court in Las Vegas .
Illusionist Steve Wyrick was sued Friday by entertainers at his Steve Wyrick Theater demanding to be paid — one day after sources say he closed the theater and magical show at the Miracle Mile Shops at the Planet Hollywood Resort on the Las Vegas strip.
A former Coast Casinos Inc. executive is involved in talks to take over some of Black Gaming LLC’s struggling hotel-casino operations in Mesquite. Black Gaming is in default on more than $205 million in debt.
Company official says bonuses needed to keep executives from leaving before sale complete
Friday, Dec. 11, 2009
With a Fontainebleau Las Vegas secretary earning $48,000 annually, its chief restructuring officer making $720,000 and unemployment running at 13 percent, the bankrupt company encountered skepticism Thursday when it proposed spending some $1 million on management bonuses.
Contractors seeking $1.37 million for work on the Privé nightclub in Las Vegas hope Privé’s bankruptcy doesn’t interfere with their efforts to get paid.
Station Casinos Inc. today announced a franchise agreement to bring the Days Inn hotel brand to the Wild Wild West Gambling Hall on Tropicana Avenue west of Interstate 15 in Las Vegas.
The Fontainebleau Las Vegas bankruptcy judge on Tuesday gave contractors 10 days to come up with more than $200 million in cash and a bond if they want to continue pressing for the right to buy the casino resort project with a credit bid.
Attorneys have dropped their lawsuit claiming Caesars Palace workers in Las Vegas are exposed to dangerous second-hand cigarette smoke. Plans are to continue pursuing a similar lawsuit filed Oct. 20 against Wynn Las Vegas.
Las Vegas company would target it to military personnel, veterans
Saturday, Dec. 5, 2009
A little-known Las Vegas company has expressed interest in acquiring the bankrupt Fontainebleau casino-resort project. Craig Road Development Corp. sent a letter to Fontainebleau's bankruptcy judge.
Analysts say Southern Nevada's employment picture remains troubled, despite the surprising nationwide improvement announced today. The U.S. unemployment rate fell in November to 10 percent from October's 10.2 percent.
Unsecured bondholders have asked bankruptcy judge to appoint trustee to supervise Station
Thursday, Dec. 3, 2009
Nevada Attorney General Catherine Cortez Masto and gaming regulators are intervening in the Station Casinos Inc. bankruptcy case, demanding that if a trustee is appointed that the trustee be licensed by state casino regulators.
Lenders owed $1.048 billion in the Fontainebleau Las Vegas bankruptcy case sued hundreds of construction companies Wednesday as disputes escalated over liens filed against the project by lenders and contractors.
The financial outlook for Las Vegas Sands Corp. has improved somewhat thanks to the company's capital-raising program in Asia, but the growing supply of hotel rooms on the Las Vegas Strip continues to worry analysts.
Local analyst says despite pro-business atmosphere, Nevada will lag in recovering from recession
Wednesday, Dec. 2, 2009
Forget, for a moment, Nevada's high rates of bankruptcies, foreclosures and unemployment. One business advocacy group, the Small Business & Entrepreneurship Council of Oakton, Va., on Tuesday issued a report arguing that Nevada still offers opportunity for entrepreneurs thanks to the state's pro-business atmosphere. Nevada ranked No. 2 in the 14th annual rankings of the states according to their public policy climates for small business and entrepreneurship.
Employee says workers' time on the clock rounded to quarter hour
Tuesday, Dec. 1, 2009
A former Amazon.com worker in Las Vegas is seeking class-action status for a lawsuit claiming the company's warehouse workers nationwide have been shorted on overtime pay.
Homeowners in the Las Vegas area continue to be punished by dropping prices, with the number underwater in their mortgages surpassing 319,000 or 69.5 percent. That's according to First American CoreLogic, which last week issued negative equity numbers for home mortgages and home equity lines of credit. The company found that in September, 23 percent of residential properties nationwide with mortgages were in negative equity.
The retail portion of the idled Fontainebleau Las Vegas casino resort filed for bankruptcy protection Wednesday -- introducing a new set of creditors and controversies to the massive case.
Contractors owed hundreds of millions of dollars for work on the Las Vegas Fontainebleau casino-resort moved again Wednesday for the right to take over the project by making a bid for what they're owed, known as a credit bid. Their attorneys filed a motion for credit bidding in Miami's bankruptcy court the same day that Judge A. Jay Cristol signed paperwork approving investor Carl Icahn as Fontainebleau's stalking horse bidder.
Harrah's Entertainment Inc.'s chief executive officer confirmed to employees Wednesday that the company is interested in acquiring the Planet Hollywood resort on the Las Vegas Strip. In an internal e-mail, CEO Gary Loveman told employees of the company's interest, Harrah's spokeswoman Jacqueline Peterson said.
Facing stacks of lawsuits over unpaid bills and allegations it deceived advertisers by inflating circulation numbers, Las Vegas tourist magazine publisher Kellogg Media Group LLC voluntarily filed for Chapter 7 bankruptcy liquidation Tuesday.
Shopping mall and land development giant General Growth Properties Inc. is working to quickly move hundreds of its subsidiaries out of bankruptcy protection, including several in Las Vegas. The Chicago company, weighed down by $27 billion in debt and hurt by the recession, filed for Chapter 11 bankruptcy reorganization on April 16.
Boyd Gaming Corp. of Las Vegas on Monday sued the owner of an Internet domain name, charging it wrongly associates one of its casinos with an online gambling site.