Las Vegas News - Page 281

Wynn Resorts sent a letter to shareholders Tuesday, asking them to support the company’s two board nominees and ignore Elaine Wynn, who launched a proxy fight to regain her seat.

Kenneth Houng is one of 63 former employees and executives whose retirement payments were halted in January when Caesars Entertainment Corp. placed its largest operating division into a Chapter 11 bankruptcy reorganization.

Sen. Harry Reid, D-Nev., made no apologies for helping the Las Vegas hotel-casino, which boosted the economy on the north end of the Strip.

The case involves millions of dollars in illegal wagers accepted by the betting operation on the World Cup soccer tournament last year, according to prosecutors.

The Strip development, which has been in planning for two years, is projected to include 3,000 hotel rooms and a casino with a combined 3,500 slot machines and table games in its initial phase.

MGM Grand, the host hotel-casino for the megaboxing match between Floyd Mayweather Jr. and Manny Pacquaio on May 2, expects a 35 percent revenue windfall from the fight weekend.

To mark the milestone, Caesars Palace and AEG Live have just announced plans for Elton to return to The Colosseum in October 2015.

In the company’s year-end SEC filing, Caesars said the numerous lawsuits are related to transactions the company has made with its Caesars Entertainment Operating Co., going back to 2010.

Blake Sartini II is Golden Gaming’s vice president of route operations, overseeing the company’s Nevada-leading business.

Luxor and Excalibur President Renée West will be replaced by two people.

The company recently named George Markantonis as president and chief operation officer of The Venetian, Palazzo and Sands Expo & Convention Center.

Renovations included new flooring, lighting and wall coverings along with upgraded technology and a state-of-the-art digital signage system, officials said in a statement.

The retirement plans were offered by businesses that were subsequently acquired by Harrah’s Entertainment in the company’s 2005 buyout of Caesars Entertainment for $9 billion.

Less than a week after being removed from consideration for another term as a member Wynn Resorts board, Elaine Wynn announced she was undertaking a costly and potentially nasty proxy fight to retain her seat.

Small measles outbreak at MGM Grand Hotel and Casino.

Buffalo has been ranked as the best-earning slot machine game in the U.S. casino market for the past three years by Goldman Sachs in the Wall Street investment firm’s annual survey.

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

U.S. District Judge Andrew Gordon immediately sentenced Phua, 23, to five years of unsupervised probation on condition he stay out of the United States during that period.

Gov. Brian Sandoval’s $1.1 billion tax package to fund education and other services includes a new slot machine tax on restricted gaming license holders with more than 500 machines or revenue of $10 million or more.

In a proxy filing with the Securities and Exchange Commission, Wynn Resorts said it was reducing its Class I board members from three to two and said the board decided not to renominate Wynn to serve as a director.