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December 19, 2014

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Liz Benston

Blog Post Archive

Deals hit the buffet line: Eat all day for $25
Friday, Feb. 13, 2009
The economic slump has Las Vegas casinos blitzing the Internet with offers that include free rooms, half-price show tickets and airplane vouchers for future trips. The Excalibur is filling a new niche, so to speak, for the gluttonous crowd.
CityCenter jobs a bright spot in down economy
Wednesday, Jan. 21, 2009
The prospect of getting a job at CityCenter, which is hiring some 12,000 people for a late 2009 opening, has thrown some locals into a state of anxious excitement. Officials now expect more than 150,000 applications, including some 50,000 flooding the site within three weeks.
Primm hotel rates for locals: free
Tuesday, Dec. 9, 2008
Remember the days when casinos gave away rooms and meals to attract gamblers?
Casino companies, even the competition, wish Aliante well
Thursday, Nov. 13, 2008
While the buzz at Station Casinos’ Aliante Station grand opening party Tuesday was shaded with concern about the company’s ability to generate decent money at this suburban casino amid this downturn, everyone is hoping for the best.
Casino stocks plunge to new lows
Friday, Oct. 24, 2008
MGM Mirage stock still on downslide
Wednesday, Oct. 22, 2008
Those investors who figured MGM Mirage couldn't trade much below $20 a share a few weeks ago got another nasty surprise today, when bond rating agency Fitch Ratings issued an especially bearish outlook on the company.
MGM Mirage announces end to bonuses
Tuesday, Oct. 21, 2008
While some Strip operators have been cagey about layoffs, firings and other employee moves during this time of economic turbulence, MGM Mirage appears to be going the route of full disclosure.
MGM Mirage splits from Nevada Resort Association
Tuesday, Oct. 14, 2008
CityCenter secures $1.8 billion; Wynn avoiding worst of crunch
Monday, Oct. 6, 2008
It wasn't that long ago that Wall Street was criticizing Steve Wynn, who then owned Mirage Resorts, for spending money like a drunken sailor.
Adelson bails out Las Vegas Sands with cash
Wednesday, Oct. 1, 2008
It takes more than skill to survive on the Strip, especially now with business plans and financing deals imploding like so many old hotels.
Developers minimize Strip resort delays
Thursday, Sept. 25, 2008
The smart money on Wall Street says developers won't be financing resorts that aren't already far along in the construction process – at least not until banks have had a few years to recover from The Great Bad Mortgage Purge of 2008.
Atwell settles suit over New Frontier sale fees
Wednesday, Sept. 10, 2008
At a bankruptcy auction in 1987, local real estate broker David Atwell was lucky enough to represent a Japanese billionaire who entered the winning bid of $157 million for the Dunes hotel.
Slot players pinch pennies
Wednesday, Sept. 10, 2008
While the major casinos are doing a bang up job attracting visitors to Las Vegas with big discounts and other perks, their slot business continues to suffer. And that's bad news for Nevada, where slots make up about two thirds of the state's gaming revenue.
Despite other stalled projects, CityCenter still on track
Friday, Aug. 29, 2008
Tribal revenue growth slows but still overtakes nontribal casinos
Tuesday, Aug. 19, 2008
Indian casinos nationwide generated 5 percent more gambling revenue in 2007 than the previous year in spite of an economic slowdown that began to take effect in the fourth quarter of last year, according to a report released today.
Timing of gaming earnings can skew the numbers
Monday, Aug. 11, 2008
A month ago, investors panicked over news that Nevada's gambling revenue in May plummeted 15 percent to its lowest level in 11 years while Strip gambling revenue fell 16 percent.
Report: Echelon retail mall could be delayed
Wednesday, July 30, 2008
Bank of America gaming stock analyst Shaun Kelley has released a report stating that Boyd Gaming’s retail mall at its Echelon resort under way on the Strip could be delayed by developer General Growth Properties because of the credit crunch.
Bankruptcy attorney expects more bad gaming news
Wednesday, July 30, 2008
Wynn plays it straight to investors
Thursday, July 24, 2008
What do you do when your profit is down in the double digits and near-term profits are uncertain?
Wynn 'relaxing' interview strategy for Encore
Thursday, July 17, 2008
When Steve Wynn hired some 10,000 workers for the 2005 opening of Wynn Las Vegas, he initiated an interview process designed to draw prospective applicants into casual and free-flowing conversation, thus discovering and hiring the most engaging personalities.
May visitor statistics down but not out
Friday, July 11, 2008
After Thursday's news of double-digit declines in gambling revenue in Las Vegas, the latest tourism statistics from the Las Vegas Convention and Visitors Authority seem anticlimactic. Or, in other words, like more of the same.
UPDATE: Gaming win plummets in May figures
Thursday, July 10, 2008
Yep, room rates are down
Wednesday, July 2, 2008

Gambling Web site operator and Las Vegas Advisor publisher Anthony Curtis has published the results of his twice annual room rate survey and the results, as expected, show some of the lowest room rates in Las Vegas since 2003.

Trop guests relocated after E. coli concerns
Wednesday, July 2, 2008
Some 490 hotel guests staying at the Tropicana's Island tower have been moved to other rooms at the Tropicana, the Tropicana-owned Westin property and other Las Vegas hotels after testers at the Southern Nevada Health District discovered that well water serving the hotel tower was tainted with E. coli bacteria.
Casino stocks take a bath
Friday, June 27, 2008
World Series tests players' skill - or luck
Thursday, June 19, 2008
Tropicana is going, going, not going
Wednesday, June 18, 2008
Here a Fertitta, there a Fertitta
Wednesday, June 18, 2008
Poaching customers’ names can toast some casino hosts
Wednesday, June 18, 2008
Customer lists may not be made of platinum but they are among the most valuable assets a casino company owns.
Moody's offers glum Vegas outlook
Thursday, June 12, 2008

Some Las Vegas casino operators and analysts are hopeful that the economic downturn will bottom out by the end of the year and rebound again by the time several major hotels and condo towers are expected to open by late 2009.

Rio dealers seek union election
Wednesday, June 4, 2008

This week the Rio became the third megaresort where casino dealers have filed a petition for an election to organize through the Transport Workers Union.

A tale of two resorts
Tuesday, June 3, 2008
Robin Leach reporting sale of Cosmopolitan
Wednesday, May 28, 2008

Since last year, New York development giant Related Cos. has been angling to take over the under-construction Cosmopolitan resort and casino, whose primary lender, Deutsche Bank, has begun foreclosure proceedings on the property.

Memorial Day weekend, Venetian style
Thursday, May 22, 2008
Ivanpah airport opening further delayed to 2018 or later
Wednesday, May 21, 2008

Clark County Director of Aviation Randy Walker broke some bad news to analysts with investment firm Deutsche Bank, revealing that the proposed Ivanpah airport will likely be delayed by 18 months, pushing the opening date to 2018 or 2019 from 2017, as originally planned.



Ivanpah airport opening further delayed to 2018 or later
Wednesday, May 21, 2008
And now let's play The Price is Right!
Wednesday, May 21, 2008
Does CityCenter, which for a long time was given a $7 billion price tag, actually cost $8.1 billion, $8.4 billion, $8.5 billion, $9.2 billion or $11.2 billion? Each of those figures has been reported by the company in recent weeks.
CityCenter will not all open at once after all
Friday, May 16, 2008
For some time, the folks at MGM Mirage have touted the fact that CityCenter – all 18 million square feet of it – will open at once by the end of 2009.
Boyd may build casino in Henderson
Friday, May 16, 2008
After losing at least one opportunity to build a suburban casino some years back, Boyd Gaming Corp. is close to signing a contract to build a casino as part of a proposed master-planned community to be built at a former
industrial site in Henderson.
Magic Kingdom performs a little magic in a dreary economy
Thursday, May 15, 2008
http://www.msnbc.msn.com/id/24582165/
And you wonder who pays for those expensive casinos
Wednesday, May 14, 2008

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 and buying video games combined, the American Gaming Association reported today in its annual industry survey.

No surprise: visitor numbers continue to soften
Friday, May 9, 2008
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
Friday, May 9, 2008
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
Monday, May 5, 2008
Atlantic City to ban smoking in casinos
Thursday, April 24, 2008
In a move that could reverberate across the casino industry, the Atlantic City Council voted unanimously Wednesday night to ban smoking in the nation's No. 2 gaming market.
Lanni last year: $9.6M in compensation, $12.6M in stock options
Tuesday, April 15, 2008

Excluding the value of stock options and awards, MGM Mirage Chief Executive Terry Lanni earned $9.6 million in compensation last year. That figure includes a salary of $2 million and incentive-based compensation of $6.4 million, according to the company's latest proxy.

February tourism leaps by 3 percent
Monday, April 14, 2008
If not for leap year, Las Vegas visitor volume, one of the best indicators of tourism demand, would have been down a half a percentage point in February versus a year ago.
Boyd shifts casino location in North Las Vegas
Friday, April 11, 2008

Dominant locals casino operator Station Casinos has been one of the valley's most aggressive developers, staking out prime neighborhoods before objectors can get a foothold.

Harrah's hails Caesars
Thursday, April 10, 2008
What's in a name? For Harrah's Entertainment, which is losing the international expansion race
to Las Vegas Sands, Wynn Resorts and MGM Mirage, apparently not enough.
Harrah's adds Lynn Swann to its board
Wednesday, April 9, 2008

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