Bellagio News - Page 14

MGM becomes the latest Las Vegas operator to leave Nevada Power and purchase its own electricity on the wholesale market, joining Wynn Resorts and Las Vegas Sands.

New York-based Land and Buildings Investment Management says "substantial insider shareholders" were resistant to changing the company's board.

Olivia Brown has more than 25 years experience in the hospitality industry, most recently serving as general manager of the Ritz-Carlton Boston Commons.

Spain has more than 200,000 slot machines countrywide. The payouts are not life-changing for the customers, and the gaming revenue doesn't move the needle for operators.

The gaming industry has embraced REITs, which, by law, don’t pay federal income taxes.

The head of the New York-based private equity fund is wagering $1.73 billion it can make The Cosmopolitan of Las Vegas a shining jewel on the Strip.

MGM Resorts International will hold a job fair Wednesday at the Mandalay Bay Events Center to hire more than 500 permanent positions at 12 of the company’s Strip-area resorts.

Bloomberg News reported Wednesday that Vice Media Inc. CEO Shane Smith sprung for the dinner following a lucky run at the casino’s blackjack tables.

MGM Resorts International Chairman Jim Murren told analysts and investors Tuesday there were “encouraging signs” of increased customer spending at his company’s 10 Strip resorts in the past few months.

Jon Jerde was founder and chairman of the Jerde Partnership, a design studio based in Venice, Calif.

Analysts believe the Strip will continue its rebound, although gaming won’t be the primary reason.

The career fair will be held in the MGM Grand Conference Center, 4701 Koval Lane, inside the marquee ballroom on Tuesday from 10 a.m. to 4 p.m. and Wednesday from 1 p.m. to 7 p.m.

The Nevada Gaming Commission Thursday signed off on the $1.73 billion purchase of Strip resort by Blackstone Real Estate Partners VII, a division of New York City-based Blackstone Group.

Bill McBeath will take over the property once Blackstone Real Estate Partners VII takes ownership of the resort, possibly as soon as Friday.

The move comes two days before Nazarian, 39, considered the visionary behind the SLS Las Vegas, meets with the Nevada Gaming Commission over his request for a gaming license for the Strip resort.

Michaels was named Wednesday to an industry trade publication’s first-ever list of Top Women in PR.

Steve Wynn doesn't see the profit in Internet gaming in the U.S. currently and worries that a public relations crisis surrounding the activity would “invite additional regulation or oversight for land-based gambling.”

Bill McBeath, who once oversaw Bellagio and CityCenter’s centerpiece Aria, joins the private equity firm that controls 33.7 percent of Las Vegas-based Affinity, owner of 11 casinos in four states.

Nazarian, 39, the visionary behind the Strip’s first major hotel-casino unveiling in four years, quickly learned he had support from the competition for the $415 million renovation of the Rat Pack-era Sahara.

Following the company’s release of second-quarter earnings this month — a profit of $105.5 million on revenue of $2.6 billion — the investment community praised the company and lauded expansion opportunities in the U.S. and Macau.