Gaming - Las Vegas Sun

Tropicana Las Vegas emerges from bankruptcy: Hotel-casino to undergo renovations starting later this year; Thursday, July 2, 2009; By Amanda Finnegan; Tropicana Las Vegas has come out on the other side of its bankruptcy woes with a new leader and the bulk of its financial burden gone.

Court filings shed light on Fontainebleau financing: the strip: Banks say project's worth would be much less than financing costs; Thursday, July 2, 2009; By Steve Green; Big banks have offered new evidence backing their refusal to further finance the Fontainebleau Resort in Las Vegas. The bottom line, they assert, is that the project doesn't make economic or business sense.

Primm’s lure: Freebies: GAMING: Herbst’s gamble to win visitors with deep discounts keeps Primm hotels hopping, money coming in; Thursday, July 2, 2009; By Liz Benston; On a recent Monday afternoon, Buffalo Bill’s — a Western-themed casino about 45 miles from the Strip at the California border — offers a glimpse of Las Vegas’ past. The place is hopping. A line to sign up for the players club snakes through the casino and toward the lobby. Nearby, people in shorts and flip-flops play slowly, pausing to gulp sodas and take in the crowd. In the food court, families and young couples take up most of the available seats, eating on the cheap amid kiddie rides and arcade games.

Revenue slips at Las Vegas Sands’ Pa. casino: Wednesday, July 1, 2009; By Amanda Finnegan; Revenue at Las Vegas Sands’ newest casino has dropped for a fifth straight week, according to a report this week by the Pennsylvania Gaming Control Board.

Venetian, Palazzo lay off workers amid downturn: 194 layoffs are on top of others announced in March; Wednesday, July 1, 2009; By Steve Green; The Venetian and Palazzo hotel-casinos in Las Vegas have laid off 194 employees since Monday in response to the continuing economic downturn and the resulting drive to cut costs. "It's an effort to continue to right-size our business," Las Vegas Sands Corp. spokesman Ron Reese said, adding the layoffs affected a variety of positions in multiple departments at the adjacent resorts on the Las Vegas Strip. On March 27, Las Vegas Sands said 283 people had been laid off.

Attorney suing Harrah's loses law license; case dismissed: Monday, June 29, 2009; By Steve Green; An attorney suing Harrah's Entertainment Inc. on behalf of disgruntled bondholders has lost his law license after pleading guilty to felony charges -- and the case against Harrah's has been voluntarily dismissed.

Lower blackjack minimum may not be deal for players: DAILY MEMO: Gaming: What might seem like a bargain often comes with rules that increase the house’s edge; Monday, June 29, 2009; By Liz Benston; You’ve seen bargain-basement hotel rates and coupons for meals, show tickets and retail purchases — even volume discounts on bottle service in nightclubs and lounges.

Practice of building before designs are done hits wall at Fontainebleau: Sunday, June 28, 2009; By Liz Benston; When Fontainebleau’s lenders pulled $600 million-plus in prearranged financing to finish the project, it exposed the strategy of how big resorts are built — quickly and with a wink between owners and lenders that more money probably will be needed.

‘Hangover’ brings new customers, campaign to Caesars: Hit movie prompts customers to inquire about suite seen in movie; Saturday, June 27, 2009; By Amanda Finnegan; What do you get when you throw four inebriated bachelors, a tiger and a baby into a suite at Caesars Palace? One of the summer’s biggest movies, a new marketing campaign and people curious about your hotel. And that’s exactly what Caesars Palace wanted. “The Hangover” is the tale of a Vegas bachelor party gone wrong and puts Caesars at center stage for the debaucherous trip. The film has grossed more than $150 million since its June 5 opening.

Greek Isles lender wants to sell, says owner has no equity left: gaming:; Friday, June 26, 2009; By Steve Green; The lender, Canpartners Realty Holding Co. IV LLC, plans to press its case to immediately auction the Greek Isles during a hearing July 16. Greek Isles, with 202 hotel rooms and a small gaming operation, was forced into bankruptcy by other creditors April 6. A receiver appointed at the request of Canpartners has been running the property on Convention Center Drive between Las Vegas Boulevard and Paradise Road. Greek Isles, with 202 hotel rooms and a small gaming operation, was forced into bankruptcy by other creditors April 6.

Riviera stock delisted from N.Y. Stock Exchange: Thursday, June 25, 2009; By Sun Staff; Riviera Holding Corp. announced that trading of its common stock on the New York Stock Exchange was suspended today.

Court rules MGM can recover insurance claims: Thursday, June 25, 2009; By Cy Ryan; CARSON CITY – The Nevada Supreme Court has ruled the MGM Mirage and another Las Vegas company have the right to recover hundreds of thousands of dollars from a state insurance pool.

Las Vegas Sands finishes towers at Singapore project: gaming:; Thursday, June 25, 2009; By Amanda Finnegan; Las Vegas Sands has completed its three 55-story hotel towers at Marina Bay Sands in Singapore nearly two weeks ahead of schedule, the company announced today. Sands will formally celebrate the topping off its $5.4 billion resort July 8.

Company takes action after execs criticized in Arizona: gaming:; Wednesday, June 24, 2009; By Steve Green; Global Cash Access Holdings Inc. of Las Vegas said Wednesday it further distanced itself from two of the company's founders -- men sharply criticized by Arizona regulators who want to stop Global Cash from doing business in that state.

MGM Mirage removes bankruptcy warning: Tuesday, June 23, 2009; By Liz Benston; MGM Mirage announced in a Securities and Exchange filing today that there is no longer "substantial doubt about its ability to continue as a going concern" after recent efforts to negotiate with lenders and trim the company's massive debts.

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Venetian restaurant up for top honors -- for bathroom: The Venetian has won a slew of accolades over the years, including top awards like the AAA Five Diamond Award and Mobil Four Star Award. ...

Encore makes magazine's annual 'It List': Steve Wynn just got an affirmation on his latest (and most expensive) work from one the leading travel magazines.

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