Steve Green

Story Archive

Three companies, including MGM Resorts International, recommended for online poker license: Thursday, Nov. 1, 2012; Three more companies cleared the first step today to participate in Nevada's emerging online poker industry.
Despite boost in sales, Boyd posts third-quarter loss: Thursday, Nov. 1, 2012; Boyd Gaming Corp. of Las Vegas said Thursday that overall sales grew in the third quarter, but it swung to a loss on higher expenses along with revenue declines in certain markets.
Gibson remains CEO of Righthaven, appeals to continue: Wednesday, Oct. 31, 2012; The Righthaven LLC copyright lawsuit saga will continue indefinitely after a judge on Wednesday blocked efforts to have Righthaven's CEO fired and its appeals canceled. Righthaven is known for filing 275 no-warning lawsuits in 2010 and 2011 in partnership with the Las Vegas Review-Journal.
Caesars posts $500.5 million loss on asset write-downs: Wednesday, Oct. 31, 2012; Caesars Entertainment Corp. of Las Vegas said today it lost a hefty $505.5 million in the third quarter, a loss wider than the $164 million lost in the same period a year ago.
LVH hotel-casino in Las Vegas sold at foreclosure auction: Wednesday, Oct. 31, 2012; The 2,973-room LVH hotel-casino in Las Vegas was sold during a foreclosure auction today. As expected, it was purchased by a joint venture between Gramercy Capital Corp. and Goldman Sachs Mortgage Co.
MGM Resorts reports wider 3rd-quarter loss of $181.2 million: Wednesday, Oct. 31, 2012; MGM Resorts International reported a wider third quarter loss Wednesday, saying that slow economic conditions this summer hurt business at its Las Vegas casino resorts.
Cosmopolitan adds 40 gaming jobs, aims to grow casino: Monday, Oct. 29, 2012; The Cosmopolitan opened in December 2010 during the depths of the Great Recession, and few expected it to be an immediate financial success.
Facing cash crunch, Prestige Travel now suing 33 casino and hotel companies: Friday, Oct. 26, 2012; Bankrupt firm Prestige Travel Inc. of Las Vegas says it's quickly running out of cash and to preserve its funds has filed more lawsuits against hotels and casino companies.
Mob Experience developer's artifact claims rejected: Friday, Oct. 26, 2012; Citing case law from 1601, a judge has refused to allow the developer of the Las Vegas Mob Experience to seize the organized crime memorabilia at what's now the Mob Attraction at the Tropicana.
CityCenter appeals order that could delay demolition of Harmon tower: Friday, Oct. 26, 2012; CityCenter has asked the Nevada Supreme Court to overturn a ruling that could delay demolition of the flawed Harmon hotel tower and a trial over defects in the structure.
Illegal offshore gambling ring could hurt Nevada's emerging online gaming industry: Friday, Oct. 26, 2012; Just as the Internet gambling industry was building credibility in Nevada, along came Michael Lloyd Colbert, the local Cantor Gaming sports book director and a Nevada gaming licensee who was among 25 people indicted in what prosecutors call a national illegal sports-betting ring.
Court sides with contractors in $100 million dispute over Fontainebleau bankruptcy: Thursday, Oct. 25, 2012; Contractors rather than banks are entitled to receive a $100 million payout from the Fontainebleau Las Vegas bankruptcy case, the Nevada Supreme Court said in an opinion today.
Affinity Gaming signals big changes ahead: Thursday, Oct. 25, 2012; Las Vegas-based casino operator Affinity Gaming LLC today signaled that big changes could be in store for the company, saying it's exploring alternatives ranging from casino sales to a companywide merger with another firm.
Liberace Foundation files for bankruptcy: Wednesday, Oct. 24, 2012; The Liberace Foundation for the Creative and Performing Arts filed for bankruptcy protection Wednesday in Las Vegas as it tries to fend off a lawsuit filed by creditor U.S. Bank. U.S. Bank has been asking a Clark County District Court judge to appoint a receiver to supervise the Liberace Foundation's property.
Wynn profit falls, despite steady performance in Las Vegas: Wednesday, Oct. 24, 2012; Casino resort operator Wynn Resorts Ltd. today said its third quarter profit fell as net revenue remained steady. The company earned $112 million, or $1.11 per share, compared to net income of $127.1 million, or $1.01 per share, in the third quarter of 2011.
Affinity shareholder throwing its weight around: Tuesday, Oct. 23, 2012; The largest shareholder in Las Vegas-based casino operator Affinity Gaming LLC is throwing its weight around, seeking representation on the board of directors as it criticizes what it calls an improper insider payment arrangement.
Prestige Travel files for bankruptcy, a move that could shutter Las Vegas Strip shows: Tuesday, Oct. 23, 2012; Prestige Travel Inc. of Las Vegas filed for bankruptcy reorganization today, listing $10 million or more in liabilities in a case that threatens tourists' reservations and a number of Strip shows.
Casino sued over shooting death in bathroom: Tuesday, Oct. 23, 2012; Security was inadequate at a North Las Vegas casino when a patron was shot and killed during a 2010 robbery, family members of the victim allege in a new lawsuit.
Decatur Crossing Center is facing foreclosure: Tuesday, Oct. 23, 2012; Las Vegas' retail market took another hit Monday when lenders sued to seize a strip mall near Decatur Boulevard and U.S. 95. The 9-acre Decatur Crossing Center at 204-290 S. Decatur Blvd. has defaulted on the terms of an $8.5 million loan issued in 2005, a lawsuit filed in Clark County District Court says.
Casino supplier disputes B of A lawsuit allegations: Tuesday, Oct. 23, 2012; The CEO of Las Vegas casino supplier Galaxy Gaming Inc. on Monday denied lawsuit allegations against the company leveled by Bank of America, calling them "erroneous."
This week's stock performers: The best and the worst locally: Friday, Oct. 19, 2012; With the benchmark Standard & Poor’s 500 index managing a 0.3 percent gain this week, despite a steep drop on Friday, stocks of most Las Vegas companies fared much better.
Okada drops effort to nominate Wynn Resorts board members: Friday, Oct. 19, 2012; Billionaire Wynn Resorts Ltd. board member Kazuo Okada is dropping his effort to nominate two independent directors to the company’s board but is continuing to fight Wynn’s forced redemption at a discount of his $2.9 billion in company stock.
Wynn sues former Chinese executive now working for competitor: Friday, Oct. 19, 2012; Wynn Resorts Ltd. is suing a former high-level Chinese marketing executive who’s now working for a competitor in Macau, charging he violated noncompete and confidentiality agreements.
Licensing enables Affinity of Las Vegas to improve Colorado casinos: Friday, Oct. 19, 2012; Affinity Gaming LLC of Las Vegas today said it has received gaming licenses from the Colorado Limited Gaming Control Commission.
Penn National: No robust recovery in Las Vegas: Thursday, Oct. 18, 2012; Penn National Gaming, owner of the M Resort in Henderson, on Thursday reported a smaller third quarter profit on lower revenue amid flat conditions in the Las Vegas area and elsewhere.
Three more casino operators get online poker licenses: Thursday, Oct. 18, 2012; Three more casino operators received online poker licenses today to compete in Nevada’s developing intrastate market.
B of A sues 28 Nevada HOAs, collection agencies in lien dispute: Thursday, Oct. 18, 2012; Bank of America is suing 28 Nevada homeowner associations and their collection agencies in the continuing dispute over charges that HOAs have been hitting homeowners and buyers of foreclosed homes with inflated bills for past-due assessments and collection costs.
Nevada casinos get split ruling in comp meal tax dispute: Wednesday, Oct. 17, 2012; A state judge today overturned efforts by the Nevada Tax Commission to force casinos to pay sales taxes for free meals they provide to employees. But in a setback for the casinos, Clark County District Court Judge Gloria Sturman ruled during a hearing that complimentary meals provided to gamblers are taxable.
Righthaven agrees to turn hard drives over to creditor: Tuesday, Oct. 16, 2012; Las Vegas copyright company Righthaven LLC appears eager to comply with the latest court order entered against it Tuesday, as noncompliance could cost its CEO a fine of $500 per day.
Casino operator gives up on project near Las Vegas Motor Speedway: Firm moving headquarters to Las Vegas; Tuesday, Oct. 16, 2012; Houston-based Nevada Gold & Casinos Inc. today said it’s abandoned plans to invest in a proposed 200-room hotel-casino adjacent to the Las Vegas Motor Speedway.
Court temporarily blocks questioning of PR consultants in Harmon tower lawsuit: Tuesday, Oct. 16, 2012; The Nevada Supreme Court on Monday refused to let a contractor proceed with questioning set this week for public relations representatives hired by the owner of the flawed Harmon Hotel tower on the Strip.
Excalibur trims bell desk, valet parking staff, citing lower guest demand: Tuesday, Oct. 16, 2012; The Excalibur has reduced bell desk and valet parking operations after the Strip resort determined it was overstaffed in those areas. The company didn't disclose how many workers were affected by the changes.
South Point Poker hiring for online poker site: Monday, Oct. 15, 2012; South Point Poker, which hopes to become the first real-money online poker site to launch legally in Nevada, is recruiting to fill several technology, marketing, customer service and regulatory compliance positions.
MGM Resorts CEO Jim Murren recognized for corporate responsibility: Monday, Oct. 15, 2012; MGM Resorts International Chairman and CEO Jim Murren is being honored for corporate responsibility achievements such as driving environmental and diversity initiatives.
This week's stock performers: The best and the worst locally: Friday, Oct. 12, 2012; During a week that saw the Standard & Poor’s 500 Index fall 2.2 percent, just a few local stocks posted gains including Wynn Resorts Ltd., which was up 2 cents from its Oct. 5 close.
Court asked to stop probe of CityCenter PR activities for the Harmon: Thursday, Oct. 11, 2012; The Nevada Supreme Court has been asked to intervene in a dispute over whether CityCenter has been trying to taint the jury pool in next year's trial over problems at the flawed Harmon Hotel tower.
Naming of Borgata president frees up Boyd executive for new assignments: Thursday, Oct. 11, 2012; Boyd Gaming said today that longtime executive Bob Boughner will expand his role with the company now that a new president has been named for the Borgata Resort in Atlantic City.
Financial outlook improves for MGM Resorts International: Thursday, Oct. 11, 2012; Wall Street analysts at Fitch Ratings today shifted their debt rating outlook on MGM Resorts International from stable to positive, signaling their confidence in continued financial improvements at the company and the rebound of tourism on the Las Vegas Strip.
Tuscany to pay nearly $50,000 to settle worker-bias suit: Wednesday, Oct. 10, 2012; The Tuscany hotel-casino in Las Vegas has agreed to pay a $49,000 fine to settle a discrimination lawsuit filed by the U.S. Justice Department involving the employment eligibility verification and re-verification process for noncitizen employees and applicants.
Wynn shareholder lawsuits reinstated: Wednesday, Oct. 10, 2012; Four federal shareholder lawsuits against the Wynn Resorts Ltd. board members were reinstated on Wednesday after they were apparently dismissed in error on Tuesday.
Wynn says he’s afraid to build in Las Vegas because of Obama: Wednesday, Oct. 10, 2012; Wynn Resorts Ltd. CEO Steve Wynn says he’d like to partner with some friends to develop another megaresort on the Las Vegas Strip, but he hasn’t done so because of what he calls President Barack Obama’s anti-business attitude.
Two high-level execs returning to Station, MGM Resorts: Wednesday, Oct. 10, 2012; Two high-level executives are returning to work at Las Vegas-based casino operators Station Casinos LLC and MGM Resorts International. Station today said Stephen Cavallaro was appointed president of the company, putting him in the No. 2 operational spot there.
Spearmint Rhino settles lawsuit by dancers for $12.9 million: Wednesday, Oct. 10, 2012; The Spearmint Rhino topless dancing clubs in Las Vegas and around the country settled a lawsuit for $12.9 million with dancers who claimed they were denied all wages and benefits due them when they were wrongly classified as independent contractors.
Four Wynn shareholder suits dismissed, two remain active: Tuesday, Oct. 9, 2012; A federal judge on Tuesday dismissed a group of four shareholder lawsuits filed against the board members of Wynn Resorts Ltd. after conflicts broke out this year between the casino-resort company and board member Kazuo Okada.
Fight for control of Righthaven to continue: CEO Gibson insists he's owed back wages; Tuesday, Oct. 9, 2012; The fight for control of Righthaven LLC will continue after a judge declined to immediately rule on the conflict. The Las Vegas company is known for suing over newspaper copyright infringements.
In the digital world, casino chips still are a big business: Tuesday, Oct. 9, 2012; Greg Gronau is one of the few gaming CEOs in Las Vegas who isn't jumping on the social gaming and Internet poker bandwagon. That’s because his company, Gaming Partners International Corp., is focused instead on the brick-and-mortar side of casinos.
HOA fee issue likely headed back to Nevada Supreme Court: Tuesday, Oct. 9, 2012; The Nevada Supreme Court may soon be asked to weigh in again on the issue of past-due homeowner association assessments and fees levied against buyers of foreclosed homes.
S&P sees risks and opportunities with Bill's renovation: Monday, Oct. 8, 2012; Standard & Poor's Ratings Services has issued a "B-'' corporate credit rating with a negative rating outlook to the Caesars Entertainment Corp. subsidiary planning to renovate Bill's Gamblin' Hall & Saloon on the Strip.
Bank hits Las Vegas casino supplier with fraud lawsuit: Monday, Oct. 8, 2012; For at least the third time, Las Vegas-based casino supplier Galaxy Gaming Inc. or its CEO have been sued over allegations they hid assets to avoid paying debts owed to creditors.
Loose lips can result in litigation: Monday, Oct. 8, 2012; In virtually every industry, disclosing confidential information is a no-no. Still, disputes occasionally erupt when employees leave to work for a competitor.