Gaming - Las Vegas Sun

Sports books record $6.8 million profit on Super Bowl wagers: Feb. 9, 2010; By Ray Brewer; Nevada sports books recorded a profit on Super Bowl wagers in 2010 for the ninth time in 10 years, according to Nevada Gaming Control Board figures released today.

MGM Mirage may leave New Jersey in dispute over Macau partner: Feb. 8, 2010; By Steve Green; MGM Mirage today said it’s in talks that could result in the sale of its stake in the Borgata hotel-casino in Atlantic City in order to settle an investigation by New Jersey regulators into the suitability of its partner in the Chinese region of Macau.

Las Vegas Sands declares dividend on some shares: Feb. 5, 2010; Associated Press; Gaming and resort company Las Vegas Sands Corp. on Friday declared a quarterly dividend of $2.50 per share on its 10 percent series cumulative perpetual preferred stock.

Deutsche Bank writes down value of Cosmopolitan by $103 million: Feb. 4, 2010; By Steve Green; Deutsche Bank AG, which foreclosed on and is completing the Cosmopolitan casino resort in Las Vegas, said Thursday it wrote down the value of the project by another 75 million euros — or $103 million. The write-off reflects Deutsche Bank’s reduced profitability expectations for the resort that is due to open later this year.

Penn National Gaming reports loss in fourth quarter: Feb. 4, 2010; By Amanda Finnegan; Penn National Gaming reported a loss during the fourth quarter of 2009, the result of gamblers continuing to spend less, the company said today. The company made mention of its failed acquisition of the bankrupt Fontainebleau Las Vegas in today’s report.

Man accused of counting cards sues over Harrah's ban: Feb. 3, 2010; By Amanda Finnegan; A Las Vegas man accused of counting cards at the Paris Las Vegas casino on the Strip is taking Harrah’s Entertainment to court in his bid to re-enter the company's casinos after he was banned.

Harrah's gets OK for Planet Hollywood purchase; job cuts planned: Feb. 3, 2010; By Cy Ryan; Harrah's received preliminary state approval to acquire Planet Hollywood today, with company executives telling gaming regulators they plan to cut the property's workforce by less than 5 percent. The Gaming Control Board recommend approval of the deal.

Ameristar reports loss in fourth quarter: Feb. 3, 2010; By Amanda Finnegan; Las Vegas-based casino operator Ameristar Casinos reported a net loss for the fourth quarter of 2009 due to a bridge closure that limited access to its Ameristar East Chicago property and overall recessionary market pressures, the company said today in its quarterly report.

State Supreme Court throws out mother, daughter slot cheating convictions: Feb. 3, 2010; By Cy Ryan; CARSON CITY — A mother and a daughter, each convicted of more than 30 counts of slot cheating in casinos in Clark County, have drawn some relief from the Nevada Supreme Court.

MGM Mirage disputes N.J. regulators’ authority to vet its partner in Macau: Feb. 1, 2010; By Liz Benston; When regulators said last year that MGM Mirage needed to cut ties with an “unsuitable” business partner in China, the casino giant said it would defend itself against the allegations raised in New Jersey.

Ex-Vegas casino exec among group to operate N.Y. video lottery: Jan. 29, 2010; Associated Press; ALBANY, N.Y. - New York Gov. David Paterson said Friday that he and legislative leaders have chosen a consortium that includes several builders and a former Las Vegas casino executive to install and operate video lottery terminals at Aqueduct Racetrack in Queens.

Bondholders file appeal over Herbst reorganization plan: Jan. 28, 2010; By Steve Green; Bondholders standing to lose $362 million in the Herbst Gaming Inc. bankruptcy case on Thursday appealed a Nevada bankruptcy judge’s approval of Herbst’s reorganization plan.

Super Bowl betting expected to increase this year: Jan. 28, 2010; By Case Keefer; As far as Nevada is concerned, the 2006 Super Bowl comes in as the greatest ever. Super Bowl XL, which paired the Pittsburgh Steelers and the Seattle Seahawks, generated a record $94.5 million worth of sports wagers in the state. At least one prominent sports book director in town believes this year’s game between the Indianapolis Colts and New Orleans Saints could surpass that total.

Bally Technologies reports small drop in profit: Jan. 27, 2010; By Amanda Finnegan; Bally Technologies saw a slight drop in profit during the second quarter of 2010, the company reported today.

Carl Icahn gets OK for Fontainebleau at bankruptcy hearing: Jan. 27, 2010; By Amanda Finnegan; The sale of the Fontainebleau Las Vegas to Carl Icahn was approved during a bankruptcy hearing in Miami today. Bankruptcy Judge A. Jay Cristol approved the sale at about 8 a.m. Icahn emerged as the only qualified bidder last week.

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