Blogs: Gaming and Business

MGM Mirage splits from Nevada Resort Association

By Liz Benston · October 14, 2008 · 4:27 PM

MGM Mirage Nevada Resort Association Citing cost-cutting measures, MGM Mirage said today the company has resigned from the Nevada Resort Association, the casino industry’s primary voice in the state Legislature for more than 40 years. The state’s largest private employer says the resignation, effective Jan. 1, 2009, isn’t political but financial. While that explanation might not have rung true a year ago, it does now given the depth of the economic downturn, which is testing the near-term viability of the ...

Wynn: Encore will take hit despite ‘position of strength’

By Jeff Simpson · October 9, 2008 · 12:29 PM

The financial whirlwind swirling down Wall Street and the Las Vegas Strip won’t affect Wynn Resorts nearly as much as his big competitors, Steve Wynn said this morning.

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CityCenter secures $1.8 billion; Wynn avoiding worst of crunch

By Liz Benston · October 6, 2008 · 1:07 PM

It wasn’t that long ago that Wall Street was criticizing Steve Wynn, who then owned Mirage Resorts, for spending money like a drunken sailor.

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Adelson bails out Las Vegas Sands with cash

By Liz Benston · October 1, 2008 · 2:17 PM

It takes more than skill to survive on the Strip, especially now with business plans and financing deals imploding like so many old hotels.

Developers minimize Strip resort delays

By Liz Benston · September 25, 2008 · 6:14 PM

The smart money on Wall Street says developers won’t be financing resorts that aren’t already far along in the construction process – at least not until banks have had a few years to recover from The Great Bad Mortgage Purge of 2008.

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Atwell settles suit over New Frontier sale fees

By Liz Benston · September 10, 2008 · 7:09 PM

At a bankruptcy auction in 1987, local real estate broker David Atwell was lucky enough to represent a Japanese billionaire who entered the winning bid of $157 million for the Dunes hotel.

Slot players pinch pennies

By Liz Benston · September 10, 2008 · 12:51 PM

While the major casinos are doing a bang up job attracting visitors to Las Vegas with big discounts and other perks, their slot business continues to suffer. And that’s bad news for Nevada, where slots make up about two thirds of the state’s gaming revenue.

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Despite other stalled projects, CityCenter still on track

By Liz Benston · August 29, 2008 · 6:41 PM

Sun archives Headlines from the Vegas gaming industry When MGM Mirage took longer than expected to secure bank financing for CityCenter, many saw their doubts that the $9.2 billion city-within-a-city ...

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Nevada black leaders upset by blog

By Sun Staff · August 29, 2008 · 6:15 PM

Blog Vegas Happens Here: Why 40/40 @ Palazzo Was A Bad Idea African-American members of the Nevada legislature and other leaders in the Nevada black community say they are surprised ...

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Tribal revenue growth slows but still overtakes nontribal casinos

By Liz Benston · August 19, 2008 · 6:51 PM

Indian casinos nationwide generated 5 percent more gambling revenue in 2007 than the previous year in spite of an economic slowdown that began to take effect in the fourth quarter of last year, according to a report released today.

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