Liz Benston

Story Archive

Proposal to raise slot fees gains steam, despite casino resistance: Saturday, Jan. 8, 2011; A long-running legislative proposal to increase slot machine fees is gaining steam as Nevada deals with a budget deficit of billions of dollars and a gubernatorial mandate to avoid increasing taxes.
MGM strikes marketing deal with L.A. nightclub operator: Thursday, Jan. 6, 2011; MGM Resorts International is finalizing a marketing deal with Los Angeles-based SBE that will allow loyalty club members to redeem rewards at MGM-owned properties based on expenditures at select SBE venues, and vice versa, an MGM Resorts executive said Wednesday.
MGM loyalty program will reward customers with perks not imagined previously: Thursday, Jan. 6, 2011; For decades, gamblers could count on a free drink at the slot machine or, after an evening of gambling, dinner or a hotel room on the house. This is how the joints kept their customers: Seduce them with perks. But the recession has forced Las Vegas’ largest casinos to be more imaginative.
Nongaming revenue a shaky leg for Strip to stand on: Tuesday, Jan. 4, 2011; Nongambling attractions fueled Las Vegas’ rapid rise as a world-class resort and convention destination but are proving to be a double-edged sword in the Great Recession.
Las Vegas Strip looks to adapt to a changing market: Las Vegas must reinvent the wheel to emerge from recession, appeal to changing audience; Sunday, Jan. 2, 2011; It’s easy to fret that the glory days are over for the Strip — the wellspring of our economy and icon of our global identity. After all, so much is going wrong. The slow, semistagnant recovery from the recession. Intense competition in the U.S. and abroad for gambling dollars. Aging Baby Boomers spending less. People seeking gaming venues closer to home. And, if only symbolically, the likelihood no casinos will be built for years.
Aiming to avoid irritating guests, Cosmo won’t charge resort fees: Saturday, Jan. 1, 2011; The Strip’s newest resort has a provocative ad campaign and artsy attractions to distinguish it from some of its competitors. But there’s a post-recession element behind the Cosmopolitan of Las Vegas’ glam rock facade: A contrarian decision to not charge hotel guests resort fees.
Living like a local on Las Vegas Boulevard: Thursday, Dec. 30, 2010; Jason Matecki is one of those wealthy people who developers counted on during the boom years to buy condos on the Strip. Then the economy busted, real estate investors soured on Las Vegas, and developers scrapped plans.
Las Vegas Sands exec plans to sell 1.7 million shares of stock: Wednesday, Dec. 29, 2010; Las Vegas Sands President and Chief Operating Officer Michael A. Leven intends to sell up to 1,758,349 shares of Las Vegas Sands stock next year as part of a pre-arranged stock trading plan, the company said today.
Crusade to outlaw smoking in casinos is waged in hostile territory: Monday, Dec. 13, 2010; Paul McIntyre is smiling at the Global Gaming Expo, belying the fact that he is embedded deep behind enemy lines. This is the final frontier for anti-smoking advocates — the casino industry’s premier trade show, which wrapped up in Las Vegas last month — and not an entirely welcome place to be.
From art to dining, Cosmopolitan aims to be 'accessible and fun': Sunday, Dec. 12, 2010; When asked to explain the aesthetic of a casino resort lacking a defined theme, major chains or celebrity brand names, the CEO of the $3.9 billion Cosmopolitan Las Vegas resort begins to unpack a series of boxes the size of cigarette packs stacked on his desk.
CEO Unwin says resort’s indie spirit, novel offerings will set the property apart: Sunday, Dec. 12, 2010; John Unwin left a high-profile job as general manager of Caesars Palace last year to lead the $3.9 billion Cosmopolitan of Las Vegas, a 2,995-room property that opens Wednesday. It will be the last of the boom-era luxury resorts on the Strip to open for years to come. Unwin was previously chief operating officer of Ian Schrager Hotels, a company that pioneered hip, boutique hotels in major cities, and has held management jobs with Westin, Marriott and Fairmont hotels.
Cosmopolitan targets 'curious' tourists: Sunday, Dec. 12, 2010; The Cosmopolitan of Las Vegas opens this week with the trappings of every other luxury megaresort built in Southern Nevada over the past two decades — a convention center, nightclub, spa, pools, restaurants and shopping.
Q&A: John Unwin: Friday, Dec. 10, 2010; John Unwin left a high-profile job as general manager of Caesars Palace last year to lead the $3.9 billion Cosmopolitan of Las Vegas, a 2,995-room property that debuts Dec. 15 as the last of the boom-era luxury resorts on the Strip to open.
Harry Reid rushes effort to legalize Internet poker: Tuesday, Dec. 7, 2010; With just days left before the 111th Congress calls it quits, Senate Majority Leader Harry Reid is taking what’s almost certain to be his last, best chance for a while to fast-track an effort to legalize Internet poker and deliver a prize to some of his biggest backers.
Design challenges leave passers-by passing CityCenter by: Sunday, Nov. 28, 2010; While defending their financially troubled development as a forward-thinking enterprise yet to hit its stride, CityCenter’s developers acknowledge a problem with the landmark, $8.5 billion project: Many pedestrians are simply passing it by.
Casino owner says he worries about problem gamblers, opposes Internet gaming: Saturday, Nov. 20, 2010; Compulsive gambling is a tricky topic in a town where casino operators are considered economic engines and icons of ingenuity instead of unsavory merchants muddying the water between entertainment and highway robbery. This makes casino owner John Woodrum something of an enigma.
What have your slots done for you lately?: Reacting to recession, makers aiming to please; Saturday, Nov. 20, 2010; Slot machine manufacturers, beaten up by gamblers who often complain about tight machines, have redirected their marketing campaign.
Baccarat defies recession by drawing gamblers willing to part with a fortune: Tuesday, Nov. 16, 2010; No casino game may be more intimidating than baccarat, typically played at high limits in elegant, sequestered rooms with tuxedoed dealers, attentive casino managers and waitresses quick to appear with fine cocktails. It was played by European royalty in the 13th century and by James Bond in the 20th, memorialized in such stylish films as “Dr. No” and “Casino Royale.” And yet, for a game wrapped in mystique, baccarat is one of the simplest games in a casino.
Analysts tired of Steve Wynn’s rants: Monday, Nov. 15, 2010; In the otherwise dull world of quarterly conference calls, analysts can count on Steve Wynn — the eloquent, philosophical and opinionated CEO of Wynn Resorts — to go off script, much to their consternation.
IRS crackdown of 2008 has ripple effect on Las Vegas nightclubs: Thursday, Nov. 11, 2010; Richard Chu had done quite well for himself as a host at Pure nightclub at Caesars Palace, cultivating customers, escorting them inside and landing them the best tables. How well did he do? The IRS says he failed to declare at least $112,000 in income.
The next to charge a resort fee in Las Vegas: Bellagio: Wednesday, Nov. 10, 2010; Las Vegas visitors probably stay at the Bellagio more for its dancing fountains or opulent surroundings than because it's one of the very few luxury hotels in town that does not charge a resort fee.
Poker star Annie Duke finds place in pop culture, intellectual circles: Tuesday, Nov. 9, 2010; After her second place finish last year on Donald Trump’s reality show “Celebrity Apprentice,” Annie Duke cemented her crossover status in pop culture from the more crowded field of mere poker fame.
New contract gives Wynn dealers more job protection: Comes with rehiring policy, controversial tip-sharing plan; Tuesday, Nov. 9, 2010; Among the fears of many casino workers in town is not just losing their jobs, but whether they can find work when the economy improves. That’s less of a concern now for some dealers at Wynn Las Vegas.
Is economic relief in sight for Las Vegas gaming?: The quick answer: Maybe. Las Vegas resorts report hopeful signs and economists are optimistic, but consumers still cautious about spending.; Sunday, Nov. 7, 2010; By some measures, the recession-battered Strip has made the turn and is on the road to recovery. Room rates, convention bookings, gambling revenue and visitor traffic have all improved. But don’t release the confetti yet.
Penn National Gaming says M Resort 'first-rate,' but still eyes Strip: Friday, Nov. 5, 2010; Penn National Gaming executives have been high-fiving each other over their purchase of the M Resort’s debt for $230.5 million -- and the right to acquire the $1 billion property outright.
Wynn Las Vegas dealers OK their first labor contract: Tuesday, Nov. 2, 2010; More than three years after voting for union representation, Wynn Las Vegas dealers last week voted 258 to 65 to approve the resort’s first-ever labor contract. About 60 percent of Wynn's 500-plus full-time dealers cast votes, union representatives said.
The gaming industry is 24/7, so why not its news, too?: Partners take chance that they have enough stories to be the CNN of the gaming world; Monday, Nov. 1, 2010; More than two years ago, UNLV professor and casino consultant Jeff Voyles had an “aha” moment while leafing through more than a dozen casino industry trade publications that have sprouted in the past decade. “It just didn’t make sense, going through all this stuff,” he said.
Tropicana not the tired, old lady on the Strip anymore: Saturday, Oct. 30, 2010; When Toronto-based Onex Corp. acquired the Tropicana Las Vegas out of bankruptcy last year and installed Alex Yemenidjian as CEO, the plan wasn’t to survive on bargain hunters amid dated surroundings.
Q&A: Alex Yemenidjian: Friday, Oct. 29, 2010; When Toronto-based Onex Corp. acquired the Tropicana Las Vegas out of bankruptcy last year and installed Alex Yemenidjian as CEO, the plan wasn’t to survive on bargain hunters amid dated surroundings.
Casino companies change names to elevate image, investor appeal: Friday, Oct. 29, 2010; Nevada’s largest casino company recently bid farewell to its corporate name of a decade and adopted a highfalutin new one: MGM Resorts International. Soon, two other Strip giants may do likewise. It’s as if some fabled casinos are suddenly in a hurry to shed their skins.
Report: Don’t bet on Las Vegas Strip comeback in 2011: Wednesday, Oct. 27, 2010; While some industry observers point to recent increases in gambling revenue as a sign that a recovery is under way, analysts at CB Richard Ellis in Las Vegas are popping that balloon, calling such figures a temporary aberration.
M Resort’s debt purchase befuddles bidders: Monday, Oct. 18, 2010; Most financially broken businesses try to resolve their predicaments with foreclosure auctions and bankruptcy sales — public events with starting bids and published procedures.
Owning, operating casinos not first choice of lenders when loans can’t be repaid: Sunday, Oct. 10, 2010; It’s a scenario many Las Vegas homeowners can readily identify with: Casinos that owe more than their buildings are worth and can no longer afford their debt payments are facing off with lenders who want to recover as much money as possible on ill-timed loans.
M Resort CEO open to a role at casino after Penn National sale: Friday, Oct. 8, 2010; It's been rough sledding for the M Resort, which opened in March 2009 at a time of precipitous decline for the Las Vegas economy.
Plaza gets Strip stuff at downtown prices: Thursday, Oct. 7, 2010; In the business world, one person’s loss is often another’s gain. But in recession-battered Las Vegas, a fortuitous sale is benefiting both parties by helping an investor boost his bottom line while helping another get a leg up on the competition. The Plaza in downtown Las Vegas will get a 21st-century makeover aided by the Fontainebleau, the unfinished Strip resort.
Recession resurrects specter of job selling in gaming industry: Desperate workers have been known, in trying economic times, to buy employment from unscrupulous managers willing to break the law to line; Tuesday, Sept. 21, 2010; In the days when mobsters lined their pockets with casino cash, employment in the industry’s more lucrative echelons often depended on knowing someone in a position of power.
Cosmopolitan is still wrestling with disgruntled condo buyers: Resort plans to deliver units, but potential buyers seek more information — or full deposit refund; Monday, Sept. 20, 2010; The owners of the Cosmopolitan probably regret the mess they inherited when they foreclosed on the property in 2008. That is, the requirement that they deliver condo-hotel units to buyers dismayed by the prospect of closing escrow.
To slot players, Palms' sideshow a freak show: Unusual act fails to impress a typical daytime customer of the casino, who's there to play video poker, not for entertainment of any kind; Saturday, Sept. 18, 2010; Las Vegas resident Judy Skow visits the Palms several times a month to play video poker. One recent afternoon is a bit different from her usual trip, however. For starters, it involves a man who appears to swallow a handful of razor blades.
What are consumers thinking? This is the guy who knows: Saturday, Sept. 11, 2010; On the ground floor of a nondescript office tower in the Strip’s shadow, a room crammed with cubicles is coming to life. It’s nearly 2 p.m., the end of the work day on the East Coast. Time for hundreds of pollsters to hit the phones and take the pulse, rolling east to west, of a nation.
Q&A: Scott Butera: Friday, Sept. 10, 2010; Although some casino employers battle labor unions, Tropicana Entertainment CEO Scott Butera makes peace with them.
Philanthropy steering hotel college through recession: Wednesday, Sept. 8, 2010; Although many academic programs at UNLV have been slimmed down or gutted because of severe budget cuts, one bright spot has been the College of Hotel Administration, which survives mainly on private donations from the gaming industry.
Legal Internet gambling may help big casino firms, hurt small ones: Monday, Sept. 6, 2010; Although major U.S. casino companies see a potential gold mine in legalizing Internet gambling, some operators of small, neighborhood casinos in Nevada — which make up most of the properties in the world’s largest concentration of gambling halls — see problems.
Tropicana Entertainment's Scott Butera: Casino's employees its most valuable assets: Thursday, Sept. 2, 2010; While some casino employers battle labor unions, Tropicana Entertainment CEO Scott Butera makes peace with them. Butera was a Wall Street investment banker who left after 14 years to restructure Donald Trump’s ailing casino company in 2002.
As baccarat grows in popularity, so does the cheating: Monday, Aug. 30, 2010; In a darkened conference room at the Tuscany, a group of casino surveillance managers lean forward in their chairs for a closer look at video footage of a man strapping a metal device to his left wrist and concealing it in his jacket sleeve.
Cosmopolitan, Marriott International announce partnership: Wednesday, Aug. 25, 2010; The under-construction Cosmopolitan of Las Vegas resort has entered into an agreement with hotel giant Marriott International to help funnel Marriott customers to the $3.9 billion property.
More games per machine means fewer slots in Nevada casinos: Number of slot machines in nation grows, but in state, there are 20,000 fewer than at 2001's peak; Tuesday, Aug. 24, 2010; While the number of slot machines nationwide continues to grow with the spread of tribal and nontribal casinos, one-armed bandits are decreasing in Nevada — a trend that has more to do with new technology than the recession.
Cycling toward cashless: ATM provider tests linking bank accounts, player cards: Company isn’t planning to seek approval for that in Nevada — yet; Monday, Aug. 23, 2010; While slot machine technology has progressed by leaps and bounds from the days of two-dimensional cherries and 7s, the day when gamblers can insert bank cards directly into slot machines won’t be here anytime soon — if ever.
Cosmopolitan CEO plans to steal customers from Strip competitors: Sunday, Aug. 22, 2010; John Unwin might have one of the hardest jobs in Las Vegas. The CEO of the soon-to-open Cosmopolitan must convince skeptical and recession-weary consumers that his ritzy, $3.9 billion resort offers something different.
Resources are thin as more need help for problem gambling: Unexpected gift to help center get through this year; Monday, Aug. 16, 2010; It’s been a tough year for the Problem Gambling Center, which is operating on 70 percent of its normal budget after state cutbacks and a decline in donations.
Why causing big debt has not cost Fertittas control of Station Casinos: Sunday, Aug. 15, 2010; The Fertitta family may well end up running the Station Casinos empire it founded, even after putting more than $6 billion in debt onto the company in 2007 as the economy worsened and sending it into bankruptcy.