Steve Green

Story Archive

Caesars Palace dealers ratify first union contract: Friday, July 27, 2012; Caesars Palace casino dealers have ratified their first collective bargaining deal, giving the Transport Workers Union its second contract on the Las Vegas Strip. The Caesars contract, representing more than 500 dealers, was approved Thursday.
Culinary Union sides with Steve Wynn, not dealers, in tip dispute: Friday, July 27, 2012; Forget about the concept of "worker solidarity" when it comes to the battle over tip pooling at Wynn Las Vegas. A group of Wynn casino dealers trying to block the company from sharing their tips with supervisors faces opposition from, of all things, the powerful Culinary Workers Union.
Missouri directs Caesars owners to sell stake in North Las Vegas casino: Thursday, July 26, 2012; Missouri gaming regulators have ordered the biggest investors in Caesars Entertainment Corp. to sever their ties with locals casino operator Station Casinos LLC of Las Vegas, prompting the investors to sell their stake in a Nevada hotel-casino on a rush basis.
Will High Roller observation wheel become the defining icon of Las Vegas?: Thursday, July 26, 2012; David Codiga hopes that one day when people see the famous London Eye, they’ll think of an even larger observation wheel he’s building in Las Vegas.
LV Sands profit falls because gamblers win more: Wednesday, July 25, 2012; Las Vegas Sands Corp. said today its second quarter profit fell as its casinos played unlucky in Asia and Las Vegas.
Companies focus on corporate responsibility, in part, to land conventions and new business: Wednesday, July 25, 2012; Big corporations focus on environmental initiatives, philanthropy and workplace diversity in part because it’s the right thing to do. But they also care about corporate citizenship because it helps them land business.
Boyd Gaming profits up, despite revenue fall at Las Vegas casinos: Tuesday, July 24, 2012; Boyd Gaming Corp. on Tuesday reported better financial results even as revenue fell at its Las Vegas casinos. The Las Vegas company separately announced new gaming development deals in California and Florida.
Gaming figure countersues Bank of Nevada over condo short sale: Monday, July 23, 2012; Gaming figure Glenn Schaeffer is countersuing a Las Vegas bank in a dispute over a short sale involving a luxury condominium.
Lawsuit seeks to recover money lost in bank failures: Monday, July 23, 2012; Federal regulators have filed what may be the first of multiple lawsuits to recover hundreds of millions of dollars in losses resulting from the 2009 failures of Community Bank of Nevada and sister bank Community Bank of Arizona.
Las Vegas office rent dips to seven-year low: Monday, July 23, 2012; In a market still suffering from bankruptcies and loan defaults, commercial real estate vacancies remain elevated in the Las Vegas area.
Bankruptcy judges juggle people, businesses and creditors in hard times: Monday, July 23, 2012; With unemployment and foreclosures soaring during the recession, bankruptcy judges in Nevada have had to make tough decisions trying to balance the rights of bankrupt people and businesses with the rights of creditors.
After Harmon is imploded, what will take its place at CityCenter?: Monday, July 23, 2012; The ruling last week that potentially speeds up demolition of the $275 million Harmon hotel has casino industry observers wondering what CityCenter will develop in the tower’s place.
Lookingglass Cyber Solutions aims to keep an eye on hackers: Friday, July 20, 2012; Experts recommend that companies adopt a “trust but verify” mentality when it comes to electronic transactions to deal with proliferating espionage, cyberattacks and hacking schemes that target consumers, businesses and even political campaigns. Even trusted business partners such as vendors and clients could unknowingly provide a company or group with infected data and files, for which specialized tools are needed to fix.
Fired casino host calls suit 'retribution': Friday, July 20, 2012; A casino host fired and accused of wrongdoing by the Palms in Las Vegas is alleging the company is retaliating against her because of an alleged sexual harassment issue.
Las Vegas new home sales continue to rise: Thursday, July 19, 2012; New home sales continued to improve in the Las Vegas area in June, a local housing analyst reported Thursday.
Palms files suit against former host who allegedly stole confidential information: Thursday, July 19, 2012; The Palms is suing a former casino host, claiming she misappropriated invaluable data including the names and contact information for hundreds of high-rollers and other gamblers.
Caesars Entertainment agrees to pay $100,000 fine over underage gambling, drinking: Wednesday, July 18, 2012; Caesars Entertainment Corp. of Las Vegas has agreed to pay a $100,000 fine after investigations found minors gambled and drank at four of its Las Vegas casinos.
Wynn results suggest high-end business steady on the Strip: Wednesday, July 18, 2012; The first financial results for the Las Vegas Strip for the second quarter are out — and they suggest business remained steady in the high-end segment.
CityCenter back in court seeking OK to demolish Harmon tower: Tuesday, July 17, 2012; Four years after Clark County building inspectors issued corrective-action and stop-work orders at the Harmon on the Las Vegas Strip, the hotel’s owner is back in court seeking permission to demolish it. After a four-month recess, testimony resumed Monday in Clark County District Court in a hearing on whether CityCenter can demolish the hotel prior to a trial planned for next year in a lawsuit over Harmon design and construction defects and unpaid Harmon construction invoices.
Judge dismisses second-hand smoke lawsuit against Caesars Entertainment: Tuesday, July 17, 2012; A federal judge has dismissed a lawsuit claiming the health of casino employees is in jeopardy because of their constant exposure to tobacco smoke.
Battery maker files for Chapter 11 bankruptcy reorganization: Friday, July 13, 2012; An advanced battery maker with Las Vegas-area operations filed for Chapter 11 bankruptcy reorganization on Thursday.
LVH hotel-casino cuts staff amid revenue slump: Thursday, July 12, 2012; The double whammy of competitive pressures and the loss of its Hilton franchise appears to be hitting the LVH — Las Vegas Hotel & Casino — harder than expected.
Heated Asian baccarat patent dispute boils over into U.S. lawsuit: Thursday, July 12, 2012; An already intense Asian patent dispute has heated up with the filing of a U.S. lawsuit against Las Vegas-based casino supplier Shuffle Master Inc.
Fewer Las Vegas homeowners underwater on mortgages: Thursday, July 12, 2012; The number of Las Vegas homeowners with negative equity in their properties continues to decline, thanks in part to rising house prices. That’s the good news.
Foreclosures are on the rise again in Las Vegas: Wednesday, July 11, 2012; After months of steady decline, foreclosure activity picked up last month in Las Vegas. Las Vegas moved from No. 15 to No. 13 on RealtyTrac's list of large metro areas with the highest foreclosure rates.
Caesars Palace, union finally agree on contract terms for dealers: Wednesday, July 11, 2012; Caesars Palace and the Transport Workers Union have agreed to terms on a labor contract for some 560 casino dealers, capping years of TWU organizing and negotiating work at the Strip property. A proposed 8 1/2-year contract will be presented to dealers for ratification, TWU Local 721 executive Joseph Carbon said.
Las Vegas home prices should continue to rise, firm projects: Tuesday, July 10, 2012; Las Vegas-area home prices should continue increasing through the end of the year, a real estate data tracking firm reported Tuesday. The Las Vegas area saw prices increase 4.7 percent from the first quarter of this year through the second quarter, Clear Capital reported.
Firm benefits with ‘Wall Street comes to Las Vegas' strategy: Tuesday, July 10, 2012; Given the timing, the decision by three former Deutsche Bank professionals to open a research, investment and brokerage house in Las Vegas was quite gutsy. It was 2009, and their speciality — the gaming industry — was reeling in the recession. But just as casinos are slowly but surely clawing their way out of rotten economic times, so, too, Union Gaming Group is along for the ride, having expanded by opening an office in Macau and planning another one in New York.
Casino ATM operators sued amid questions about plaintiffs' motives: Saturday, July 7, 2012; Even as questions swirl about their validity, more lawsuits were filed Friday over Nevada casino ATMs that may have lacked notices about surcharges.
New Nobu Hotel at Caesars Palace could help define Las Vegas as a city for boutique hotels: Friday, July 6, 2012; Las Vegas has more hotel rooms than any other U.S. city, but unlike many other tourist destinations, it generally isn’t known for trendy boutique hotels. That isn’t to say the city doesn’t have niche properties. It does. A good number of them, in fact. Ironically, Caesars Palace, the megaresort with some 3,950 rooms, could play a key role in raising Las Vegas’ profile as a boutique hotel city.
Holsum Lofts among latest Las Vegas real estate bankruptcies: Thursday, July 5, 2012; Commercial real estate bankruptcies continue to accumulate in Las Vegas — the latest two involving properties on Charleston Boulevard.
Fight for control of Righthaven escalates: Thursday, July 5, 2012; Who really controls Righthaven LLC and is Las Vegas attorney Steven Gibson still its CEO? Those are questions a federal appeals court may soon address after an attorney for the original Righthaven on Thursday questioned assertions that Gibson had been fired as its CEO.
Moody's downgrades Riviera debt rating again: Thursday, July 5, 2012; Moody’s Investors Service on Thursday downgraded key Riviera Holdings Corp. debt ratings — the second such downgrade since April. Moody’s cited “heightened concern” that the company, owner of the 2,075-room Riviera hotel-casino on the Las Vegas Strip, has been producing negative EBITDA, or earnings before interest, taxes, depreciation and amortization.
Judge rules Flamingo violated labor law during unionization drive: Thursday, July 5, 2012; Flamingo Las Vegas security officers have voted against joining a union, but the union’s dispute with the property likely will continue for some time.
Mesquite casino pitchman Randy Black Sr. files for bankruptcy: Wednesday, July 4, 2012; Mesquite casino manager and pitchman Robert ''Randy'' Black Sr. is heading back to bankruptcy court — this time apparently over problems related to a Las Vegas office building. Black and his wife, Kathy, voluntarily filed for Chapter 7 bankruptcy protection on Wednesday.
Righthaven founder fights to stay on as CEO: Monday, July 2, 2012; Righthaven LLC founder Steven Gibson insisted Monday he remains in charge of the Las Vegas company and asked a judge to block efforts to fire him as CEO.
Avoiding bankruptcy: The right advisors can keep a crisis at bay: Tips for reducing expenses and restructuring your finances; Monday, July 2, 2012; While the Southern Nevada economy appears to be improving, bankruptcies and distressed debt business restructurings are showing no signs of slowing down. The slight decline in Nevada’s unemployment rate, from 11.7 percent in April to 11.6 percent in May, coupled with the state’s move from No. 1 to No. 3 on the residential foreclosure list, are encouraging signs of a fiscal return. But insiders say that for the most part, businesses that struggled during the recession will continue to do so, at least for the short-term future.
Supreme Court to decide key bankruptcy provisions: Monday, July 2, 2012; Businesses and organizations that have gone through Chapter 11 bankruptcy in Nevada have experienced everything from non-eventful reorganizations to bitter legal fights with disgruntled creditors. Looking ahead, Nevada’s bankruptcy landscape could change dramatically depending on what the Nevada Supreme Court does with AB 273.
First Amendment attorney joins effort to shut down Righthaven: Friday, June 29, 2012; Las Vegas First Amendment attorney Allen Lichtenstein has joined the initiative to shut down copyright infringement lawsuit filer Righthaven LLC. Lichtenstein said he's signed on to represent the receiver who claims to control Righthaven.
Both sides pleased with board ruling in case between Culinary Union and Station Casinos: Friday, June 29, 2012; A three-member panel of the NLRB ordered Station Casinos to post a notice at Palace Station advising workers that the company was found to have violated a federal labor law.
Okada to be deposed: Friday, June 29, 2012; All of the Wynn Resorts Ltd. board members can be questioned by attorneys in the legal battle pitting Kazuo Okada against the rest of the board, a judge ruled Thursday.
William Hill, Affinity in long-term sports betting deal: Thursday, June 28, 2012; William Hill Race & Sports Book on Thursday said it has entered into a long-term agreement to operate the sports books of the Affinity Gaming casinos throughout Nevada, following its acquisitions of the Brandywine Bookmaking LLC, Club Cal Neva and American Wagering Inc. sports book businesses.
Firm named in Nevada robosigning cases countersues Masto: Wednesday, June 27, 2012; The foreclosure processor sued by Nevada Attorney General Catherine Cortez Masto in last year’s robosigning cases has now retaliated, suing Masto and alleging due process violations.
Photo of Clark County DA Steve Wolfson removed from bankrupt developer’s website: Wednesday, June 27, 2012; Several claims and photographs disappeared from a bankrupt Las Vegas businessman’s websites this week after questions were raised about whether they were accurate and appropriate. The sites promote Jean Marc El Jwaidi and his company Task Commercial Group. Photos showing El Jwaidi posing with Clark County District Attorney Steve Wolfson were removed after VEGAS INC asked Wolfson about them.
Moody’s: Rebound in gaming industry likely to stall: Wednesday, June 27, 2012; Moody’s Investors Service today warned that the stagnant U.S. economy could hurt the casino industry and that some newly opened casinos appear to be taking market share from competitors as opposed to growing the market.
Shuffle Master folds plan to buy Internet poker company: Wednesday, June 27, 2012; Citing the slowing European economy, Las Vegas-based casino supplier Shuffle Master Inc. today said it canceled its deal to buy Internet poker company Ongame Network Ltd. for about $26 million.
Las Vegas market lags in home price gains: Tuesday, June 26, 2012; Las Vegas-area home prices rose in April — but the local market underperformed compared to other big cities, new data issued Tuesday show.
Righthaven receiver moves to fire CEO Steven Gibson: Monday, June 25, 2012; The Righthaven LLC copyright infringement litigation took a bizarre turn Monday when Righthaven's court-appointed receiver moved to fire Righthaven CEO Steven Gibson.
New home sales in Las Vegas up in May: Monday, June 25, 2012; Las Vegas-area new home sales rose in May, as sales continued to rebound from the 30-year low experienced in 2011. Home Builders Research Inc. on Sunday reported that builders sold 401 homes locally in May, up from 347 in April and 291 in May 2011.
Bradley Ogden restaurant closing at Caesars Palace: Friday, June 22, 2012; The high-end Bradley Ogden restaurant at Caesars Palace will close in August after a 10-year run, the restaurant and casino announced Friday.