Las Vegas business briefs

sgreen@lasvegassun.com

Monday, Sept. 28, 1998 | 11:13 a.m.

NEVSTAR OFFICIAL QUITS -- NevStar Gaming and Entertainment Corp. of Las Vegas said Jeffrey L. Gilbert resigned to pursue other opportunities. He was president, chief operating officer and a director. NevStar said Gilbert will be a consultant for the company and that its Chairman and CEO, Michael Signorelli, will serve as president. NevStar owns the Mesquite Star hotel-casino.

STATION CASINOS MAY BUY BACK SHARES -- Station Casinos Inc. said its board of directors authorized the re-purchase of up to $30 million of its outstanding equity securities. This is contingent on approval from the company's bankers since share repurchases are not allowed under Station's revolving loan.

FORMER CAESARS PRESIDENT SUES COMPANY -- The former president of Caesars World Sports Division sued Caesars World Inc. in Clark County District Court, alleging he is owed severance money and seeking a declaration whether an arbitrator's order that Caesars World CEO Peter Boydon be deposed is enforceable. Richard Rose went to work for Caesars World in September 1988. In 1989, he signed a "contingent severance agreement" that provided additional benefits should he be fired due to a change in ownership of the company. The agreement was amended after a merger with ITT in 1996. After ITT and Starwood Lodging merged, Rose was terminated last January. His suit alleges he has been paid some, but not all, of his severance benefits. Attempts to contact Caesars World officials Thursday failed.

HARRAH'S SUED OVER INDIAN GAMING DEAL -- Casino Resource Corp. sued Harrah's Entertainment Inc., accusing the big casino company of violating an agreement over Indian gaming facilities. In a suit filed in federal court in St. Paul, Minn., Casino Resource said Harrah's wrongly backed out of a plan to jointly operate a casino with the Pokagon Band of Potawatomi Indians. Harrah's bought an interest in a competing casino that undercut the Pokagon gaming operation, the Casino Resource suit said. Memphis, Tenn.-based Harrah's denied the allegations.

AT&T TOPS IN LOCAL WIRELESS SATISFACTION -- AT&T Wireless Services is the top-ranked wireless communications company in Las Vegas in a new J.D. Power and Associates study. AT&T received a score of 105, compared to the average of 99 in Las Vegas. J.D. Power and Associates said call quality is the most important factor in determining satisfaction. Other factors include pricing options and customer service. J.D. Power noted that besides the growth of traditional cellular and PCS service, competition is growing from specialized mobile radio companies like Nextel.

KAUFMAN & BROAD, LENNAR PROFIT SOARS -- Kaufman & Broad Home Corp. of Los Angeles, the largest home builder in the West, said third-quarter earnings rose a larger-than-expected 85 percent. And Lennar Corp. of Miami, which also builds in the West, reported a 67 percent increase in quarterly earnings. Kaufman & Broad's net income for the three months ended Aug. 31 rose to $28.1 million, or 68 cents a diluted share, from $15.2 million, or 38 cents in the year-earlier period. Net orders for the third quarter rose 17.3 percent to 3,883 and 43.4 percent in the first three weeks of September. The company's backlog of homes ordered but not yet completed rose 51.4 percent to 7,630 units. Lennar's quarterly profit was $35.1 million or 59 cents per share.

INNOVATIVE PRODUCTS LISTED -- A panel of five judges have chosen 20 gaming products as the 20 most innovative for 1999 for Casino Journal magazine. The products will be evaluated by persons attending the American Gaming, Lodging and Leisure Summit in January at Bellagio. The 20 products and manufacturers: Super Reels by Acres Gaming; Triple Play Poker by Action Gaming Inc.; Casino Bowling by Anchor Gaming; Empire Slots by AC Coin & Slot; Edge-Lit Acrylic Signage by AVVA Light Corp.; Let's Make a Deal slot machine and Cash Cage by Bally Gaming; ChipTrak by Casinotek; Revelation by InfoGenesis; Elvis slot machine by International Game Technology; Press Your Luck by Long Associates; Casino Link by Mikohn Gaming Corp.; Kids Quest by New Horizon; Video Mah Jong by Shuffle Master Gaming; Buccaneer Gold and Arabian Riches by Silicon Gaming; Where's Henry? slot machine and Sneak-a-Peak Poker by Sigma Games; Coin Free by VLC; and Monopoly by WMS Gaming.

To contact Sun Business Editor Steve Green, call 259-4083 or e-mail sgreen@lasvegassun.com