Gaming - Las Vegas Sun

Bill that transformed a city: By Ed Koch; The Wide Open Gambling Bill of 1931 was the cornerstone on which Las Vegas’ economy was built.

The Wynn sues Barkley, claims $400,000 gambling debts unpaid: NBA legend, a self-described gambling addict, will have a chance to repay; By Jeff German; Wynn Las Vegas filed a lawsuit in District Court on Wednesday to force former National Basketball Association star Charles Barkley to pay back $400,000 in gambling markers the casino alleges it extended him last year.

In anti-tax Nevada, policy can be pawned: Gaming tax hike proposal has dealmakers working both sides; Wednesday, May 14, 2008; By David McGrath Schwartz; Casino moguls jetting to meet with the governor, clandestine sessions between gaming executives and the teachers union president, eleventh-hour jockeying over raising the room tax — this is how public policy gets made in Nevada.

Vegas slump hits Station Casinos: LOOKING IN ON: GAMING: With operations concentrated here, its fate closely tied to local economy; Tuesday, May 13, 2008; By Liz Benston; Station Casinos has historically reaped impressive gains by putting most of its eggs in one basket: Las Vegas. But the housing slump appears to be hurting Station more than companies that own casinos outside of the Vegas.

Despite few layoffs, workers feel fear: Gaming companies are cutting other costs first, predicting fast rebound; Tuesday, May 13, 2008; By Liz Benston; After the 9/11 terrorist attacks, thousands of hourly Strip workers were laid off as tourists stayed home. In the current economic downturn, casino companies are moving more cautiously. But workers worry the shoe is still going to drop.

One man’s theories on Vegas’ economy, then and now: ODDS 'N' ENDS:; Monday, May 12, 2008; By Jeff Haney; News item: The Nevada casino industry reports a significant decline in gambling revenue for a third consecutive month, blaming weakness in the national economy.

Despite slowdown, casino giant spending big: MGM Mirage is investing beyond the $8 billion it’s paying to build CityCenter; Monday, May 12, 2008; By Liz Benston; Even as gamblers, shoppers and diners are clutching to their dollars and Las Vegas reels from the worst economic slowdown since Sept. 11, MGM Mirage is spending billions of dollars on itself.

CityCenter still selling condos despite slowdown: LOOKING IN ON: GAMING:; Friday, May 9, 2008; By Liz Benston; While some Las Vegas condos are in foreclosure as buyers walk away from purchase contracts, MGM Mirage — defending a lawsuit filed by unhappy Signature condo-hotel owners — says no buyers have canceled purchases at CityCenter despite the housing slump.

Mischief-making blockers are signature gatherers’ bane: They holler to dissuade potential backers of teachers union petition; Monday, May 5, 2008; By J. Patrick Coolican; Russ Stevens walks out of the North Las Vegas DMV office and is approached by a woman asking him to sign a petition in favor of raising casino taxes to benefit teachers and schools.

Brian Greenspun knows a leader when he sees one: WHERE I STAND: Top Nevada business exec could fill vacuum; Sunday, May 4, 2008; By Brian Greenspun; I decided a few weeks ago that I was no longer going to act like a common scold in this space. The people of Nevada should know by now that I believe we are in desperate need of new leadership at the state level and any other part of government that doesn’t recognize that we are in trouble or, worse, refuses to do anything about it.

Slot makers pull together: New way of controlling machines forces competitors to cooperate; Tuesday, April 29, 2008; By Liz Benston; As steel girders and shimmering glass define the exterior of the rising CityCenter, slot machine engineers and computer techies behind the scene are trying to figure out how to wire the casino of the future. Their new slot machines will behave like a network of personal computers with high-speed Internet access, linked to a computer server in a back office that will give players and the house alike unprecedented control over the slots.

New device makes it harder to walk away from the game: Sunday, April 27, 2008; By Liz Benston; A new crop of gambling machines has arrived in town — stacked on a countertop at the Venetian like so many GameBoys or the buzzers that a restaurant hostess uses to let you know when your table is ready.

Station Casinos banking on biggest being best: Plan for huge complex in play despite economy; Wednesday, April 23, 2008; By Liz Benston; At a time when businesses across the country are cutting back in the face of economic turmoil, the brothers at the helm of Station Casinos are accelerating plans for an enormous Las Vegas resort larger than CityCenter.

Garage goes up next door, and condo owners want out: LOOKING IN ON: GAMING:; Tuesday, April 22, 2008; By Liz Benston; Several dozen Turnberry Place residents in the 120-unit luxury condominium tower are selling their units because they don’t want to look at the parking garage of the under-construction Fontainebleau Las Vegas high-rise resort next door.

Beers takes center stage: POLITICAL MEMO: Republican Senator a pivotal character in gaming’s direction of election; Sunday, April 20, 2008; By J. Patrick Coolican; A lobbyist with close ties to the Strip doesn’t mean to be arrogant, and indeed, he isn’t. But his description of the calculations on the Strip heading into the 2008 election, and his gaming out of the possibilities, sounded like a TV director musing about the arrangement of actors on the set, the timing of the comic lines, the timing and pitch of audience laugh track.

From The Gaming & Business Blog

And you wonder who pays for those expensive casinos: Gamblers lost a record $34.13 billion in non-tribal casinos last year, a 5 percent increase from 2006 and more than consumers spent going to movies ...

CityCenter pushes ahead, despite economy: MGM Mirage officials topped off the first of six high-rise towers on its CityCenter development Wednesday, and a senior company official said it was pushing ...

No surprise: visitor numbers continue to soften: The Las Vegas Convention and Visitors Authority reported more of the same today: fewer visitors, especially convention goers, are coming to town.

Gaming revenue, especially slots, continue their decline: For the third month in a row, the state of Nevada is reporting a significant decline in gaming revenue blamed on the economy.

Tropicana Entertainment makes money but still files for bankruptcy: Today’s news that Tropicana Entertainment is filing for Chapter 11 bankruptcy protection comes on the heels of a much-publicized slowdown that has uncovered the myth ...