Las Vegas News - Page 555

Coupling big-time sports with this city's existing amenities would be a marketing home run for the local tourism and travel industry, executives with the Las Vegas Convention and Visitors Authority and advertising agency R&R Partners said Tuesday.

News Brief: Las Vegas Sands commanded a premium of about 50 percent over its IPO price Wednesday as investors bid up shares of the casino giant on the company's growth prospects in the U.S. and in China.

Wynn Resorts, Limited reports the completion of the refinancing of the indebtedness of its subsidiary, Wynn Las Vegas, LLC.

Pinnacle Entertainment, Inc. reports that it intends to offer 3.0 million newly issued shares of its common stock.

When Mandalay Resort Group released its latest quarterly profit report this month, it was room rates -- not gambling revenue -- that did most to boost earnings by about 65 percent.

Las Vegas had the most monthly visitors in its history in October as 3.3 million people poured into the city's resorts.

The National Football League, in a recent letter to the casino industry's largest trade group, stands by its position that the Las Vegas Super Bowl parties of years past won't fly this season.

Ameristar Casinos, Inc. reports plans to develop a regional destination casino-hotel and entertainment facility as part of a major regeneration project at the West Quay in Southampton, England.

News Brief: Although celebrities have been endorsing products for as long as there have been celebrities, the lucrative branding and licensing deals are recent additions to the arsenals of slot machine manufacturers.

In a meeting that ended almost as quickly as it began, shareholders of Las Vegas-based Mandalay Resort Group on Friday approved their company's proposed $7.9 billion sale to local gaming giant MGM Mirage.

A selection of news and views from inside the industry this week.

Longtime casino types remember the days when holiday decor during December at a Strip hotel-casino consisted of a fake Christmas tree in the hotel lobby, a few twinkling lights in the buffet area and silent nights. These days holiday decorating takes on various levels of expense.

Las Vegas Sands has again raised the amount of money it expects to get from its initial public offering of stock, saying the company could be worth an estimated $8.2 billion instead of earlier estimates of $6.8 billion.

Mandalay Resort Group reports that this morning at its 2004 annual meeting of stockholders the merger agreement between MGM Mirage and the company was approved by the company's stockholders.

Wynn Las Vegas said it is advising job applicants to complete online job applications by Dec. 31 to be considered for positions at the resort, which is scheduled to open April 28.

Fueled by big baccarat and other table-game action, casinos along the Las Vegas Strip won $491.9 million in October, a 20.3 percent increase from a year ago and the highest monthly percentage gain since November of 1999.

Focusing on its core business as a casino equipment supplier, Shuffle Master said Thursday the company grew its revenues 48 percent in the fourth quarter and 45 percent for fiscal 2004.

Patent litigation brought by International Game Technology against rival slot machine manufacturer Alliance Gaming could be the latest adverse element affecting the company's slumping stock price, one gaming analyst said.

MGM Grand has defined yet another genre of nightlife with the grand opening of Teatro Euro Bar.

Shuffle Master reports dfiluted earnings per share from continuing operations increased 29% to $0.27 and revenue increased 48% to $25.9 million for Q4.