Gaming - Las Vegas Sun

MGM Mirage chief upbeat amid drumbeat of downturn: Looking in on: Gaming:; Thursday, July 24, 2008; By Liz Benston; MGM Mirage executives seem willing of late to go out on a limb, what with the company’s chief executive proposing a controversial increase in the business payroll tax to shore up the state budget.

Station refines art of hiring en masse: Casino company’s efforts apparent in Aliante search; Thursday, July 24, 2008; By Liz Benston; In this economy, an employment center is an unlikely place to find an upbeat group.

Dressing down: Web gambling’s hallmark: UNLV study finds online betting areas thick with bullying, foul-mouthed players, repelling some, enticing others; Wednesday, July 23, 2008; By Liz Benston; The long-running debate over whether to legalize Internet gambling has usually focused on its potential to be more addictive than gambling in a casino.

A new way of wagering: Monday, July 21, 2008; By Liz Benston; Imagine being able to lay a bet on a New England Patriots-Green Bay Packers game while eating at a casino buffet, instead of being stuck in a smoky sports book.

New sports book chain stresses service: Lucky’s will offer custom lines, made while customers wait; Monday, July 21, 2008; By Liz Benston; For many gamblers, placing a bet in a sports book doesn’t have the glamour of a blackjack game or the comfort level of a whirring slot machine.

Why Cosmopolitan’s credit collapse accentuates positive in Strip outlook: ANALYSIS: Interest of prominent buyers suggests long-term health; Thursday, July 17, 2008; By Liz Benston; The Cosmopolitan, which sits half-built in the middle of the Strip, has been held up as a symbol of Las Vegas’ doubtful future. But experienced hotel operators, including Hilton and Hyatt, are lining up to acquire it. Evidently, some investors still think Las Vegas is a good long-term bet.

Wynn defies Wall Street ‘wisdom’: Despite tough times, he keeps spending, thinking long term; Tuesday, July 15, 2008; By Liz Benston; Around the time MGM Mirage was trimming its management ranks and the tourism slowdown — only hinted at in research statistics and earnings reports — had become a hard fact in Las Vegas, competitor Steve Wynn was playing it cool.

Banks, buyers loath to seal condo deals: A few bright spots, but closing process slows overall; Saturday, July 12, 2008; By Liz Benston; Selling high-rise condominiums in this town and closing escrow on them are separate challenges in today’s economy, a Sun analysis has found. Of 2,558 units that opened escrow this year in projects of 50 or more units, 77 percent are still in escrow.

N.J. appeals court upholds Tropicana license revocation: Ruling hailed by Nevada official, who says it could strengthen regulatory control; Thursday, July 10, 2008; By Liz Benston; Casino regulators across the country are breathing a sigh of relief after an appeals court in New Jersey affirmed a December decision by the New Jersey Casino Control Commission not to renew the gaming license for the operator of the Tropicana in Atlantic City.

Slot giants seek offshore expertise: Bally, IGT say India has more qualified software engineers than U.S. does; Thursday, July 10, 2008; By Liz Benston; Las Vegas casino giants are eyeing big profits in Macau, the port city in China that has overtaken the Las Vegas Strip in gambling volume. And now local companies that make slot machines and related equipment for the world’s casinos are looking to yet another far-flung locale for talent.

Survey: Gas prices deter Southern Californians: Poll finds area’s gamblers cut back visits by one-third, betting by one-fifth; Tuesday, July 8, 2008; By Liz Benston; Southern California gamblers who regularly drive to Las Vegas have cut back their visits by a third because of record gas prices, and those who still come say they’ve cut their gambling back by 29 percent, a new poll has found.

Nevada trio help kill Michigan casino plan: MGM Mirage a player in aggressive opposition; Wednesday, July 2, 2008; By Lisa Mascaro; Rep. Shelley Berkley was poised by a main door to the House chamber last week as representatives began filing in for a vote on a Michigan gaming bill, handing out pink fliers as if she were running for student body president.

Deluge expected for jobs at new Station casino: Looking in on: Gaming: Aliante in North Las Vegas will have 1,000 openings and likely scads of applicants; Tuesday, July 1, 2008; By Liz Benston; Station Casinos will begin taking applications Sunday for more than 1,000 jobs at Aliante Station, the company’s 10th major property in town, which is scheduled to open in North Las Vegas Nov. 11. And applicants can line up in their pajamas.

Bill threatens gaming, dies quickly: Measure to help tax casino comps had wide backing; Tuesday, July 1, 2008; By David McGrath Schwartz; A bill intended to prevent the casino industry from getting $150 million in taxes back from state and local governments and school districts began the day with bipartisan support and backing from legislative staff and the governor.

State takes hit from unpaid markers: LOOKING IN ON: GAMING:; Friday, June 27, 2008; By Liz Benston; Adding to the state’s tax woes: It hasn’t been able to collect gaming tax on $166 million in wagers — the amount bet in Nevada casinos with markers that have not been repaid by the gamblers.

From The Gaming & Business Blog

Wynn plays it straight to investors: What do you do when your profit is down in the double digits and near-term profits are uncertain?

CityCenter announces new retailers: CityCenter recently revealed several retailers and dining establishments planned for its 500,000-square-foot retail space known as The Crystals.

Wynn 'relaxing' interview strategy for Encore: When Steve Wynn hired some 10,000 workers for the 2005 opening of Wynn Las Vegas, he initiated an interview process designed to draw prospective applicants ...

May visitor statistics down but not out: After Thursday's news of double-digit declines in gambling revenue in Las Vegas, the latest tourism statistics from the Las Vegas Convention and Visitors Authority seem ...

UPDATE: Gaming win plummets in May figures: The state’s tax coffers got hit with a double whammy in May when gamblers spent less and won more from casinos, the lowest take in ...