Gaming briefs for March 17, 2004

Wednesday, March 17, 2004 | 10:57 a.m.

Fuel surcharge permanent

A temporary 20-cent fuel surcharge approved by the Nevada Taxicab Authority in September has become permanent.

The authority board on Tuesday removed the fuel surcharge, but agreed to an equivalent rate increase of 20 cents per trip.

Cab customers will pay $3 on the "drop," the base charge all customers pay. The rate of $2.70 per mile will remain the same.

The board also agreed to allow Southern Nevada's 16 cab companies additional taxis on Clark County streets during the National Association of Broadcasters convention April 18-22. Board members approved 10 additional cabs per company April 18, eight per company on April 22 and between seven and 15 per company at various times of the day April 19-21.

Sands chip fetches $33,000

A 1950s-era $5 casino chip from the former Sands hotel-casino in Las Vegas fetched $33,000 on the Internet auction site eBay over the weekend.

The price is believed to be the highest ever paid for a casino chip in a public sale, said Mike Skelton, president of the Casino Chip and Gaming Token Collectors Club. The chip was in "near mint condition" and is one of five known to exist, he said.

The seller is a Las Vegas native and an avid chip collector, club spokesman Len Cipkins said. The buyer and the seller wish to remain anonymous, he said.

The previous record for a casino chip sale also was set on eBay, where a $5 casino chip from the former Hacienda hotel-casino sold for $15,100.

Studio shares rise on potential special dividend

LOS ANGELES -- Metro-Goldwyn-Mayer Inc. shares rose 12 percent Tuesday after the movie company said it was considering a "significant one-time dividend" or other plans to return money to shareholders.

The shares of Los Angeles-based MGM rose $1.95 to $18.15 at 4 p.m. in New York Stock Exchange composite trading. They have increased 72 percent in the past year.

Reuters reported Monday that MGM was considering a dividend of $6 to $9 a share, citing unidentified people familiar with the plan. That would cost the company $1.4 billion to $2.1 billion, based on about 235 million shares outstanding, Reuters said. About 75 percent of MGM's shares are owned by billionaire Kirk Kerkorian, who also controls Las Vegas-based casino resort operator MGM MIRAGE.

Company announces stock split

Shuffle Master Inc., a Las Vegas gaming supply company, announced a three-for-two stock split at its annual shareholders meeting today.

Additional shares will be issued April 16 to shareholders of record April 5.