Gaming briefs for Feb. 3, 2004

Tuesday, Feb. 3, 2004 | 10:58 a.m.

LV resort operator in U.K. deal

MGM MIRAGE of Las Vegas today said it and British Land Co. may build a casino complex in Sheffield, England, for as much as 250 million pounds ($459 million) as the British government considers easing gambling rules.

The complex, including restaurants, a hotel and conference center, would be next to British Land's Meadowhall Shopping Centre, which attracts 800,000 people a week, the companies said in a statement. Las Vegas-based MGM MIRAGE would operate the casino.

The development is contingent upon the British government ending rules that limit slot machine payoffs and restrict casino gambling to members who follow dress codes.

New nightclub planned

Hard Rock Hotel and Casino owner Peter Morton has signed a deal to partner with Hollywood nightlife developer Brent Bolthouse on the opening of a new yet-to-be named nightclub at his Las Vegas hotel in the spot where Baby's was previously located.

Renovations will begin this month and are being spearheaded by designer Kelly Wearstler from Los Angeles firm kwid with a scheduled spring opening.

Executives file stock-sale plans

Station Casinos Inc. of Las Vegas said Monday that some of its executives have entered into stock trading plans to sell shares of the company's stock upon the exercise of some options.

The company said in a document filed with the Securities and Exchange Commission that Chief Executive Frank J. Fertitta III entered into a "Rule 10b5-1" trading plan to sell up to 750,000 common shares.

In addition, Station said Executive Vice President and Chief Operating Officer Stephen L. Cavallaro entered into a Rule 10b5-1 trading plan to sell up to 180,000 common shares. Executive Vice President and Chief Development Officer William W. Warner entered into a Rule 10b5-1 trading plan to sell up to 115,600 common shares, the filing said.

The company said the executives will have no control over the timing of the sales and there is no assurance the shares covered by the plans actually will be sold.

Station said the executives are diversifying their financial holdings and will still have significant ownership interests in the company.