Las Vegas News - Page 568

Federal prosecutor Rick Convertino this week gave Las Vegas some unwelcome publicity when he accused local officials of soft-pedaling terror threats.

With less than two months to go before the pools at Wet 'n Wild are drained for the last time.

A group that intends to turn the bankrupt Aladdin into the first Planet Hollywood hotel-casino won preliminary license approval Wednesday from the Nevada Gaming Control Board.

Released from a judge's gag order, the Justice Department on Tuesday night vigorously rebutted explosive claims that Las Vegas authorities bungled a possible terror threat to local casinos.

One of the many unresolved questions regarding a partnership's bid to take control of the Aladdin hotel-casino in a few weeks involves the Planet Hollywood restaurant up the street.

Southern Nevada politicians and business leaders scrambled Tuesday to respond to allegations they failed to make public news of suspected al-Qaida activities on the Strip over fears such information would disrupt local tourism.

With a $419.9 million profit from the sale of its Grand Canal Shoppes in May, Las Vegas Sands posted record net income of $454.6 million in the second quarter, up from $9.6 million a year earlier.

Poster Financial Group, the owner and operator of the Golden Nugget Las Vegas and Golden Nugget Laughlin, on Tuesday said second-quarter operating income fell slightly and net income fell sharply compared with a year earlier.

Las Vegas developer Steve Wynn on Tuesday reiterated his interest in buying the Las Vegas Country Club and reassured members he will ensure each one would net $70,000 from a sale to his golfing subsidiary.

The owner of the Golden Nugget casinos in Las Vegas and Laughlin reported increases in revenue and cash flow in the second quarter but profit fell as the company spent more on advertising and added marketing staff, among other things.

Wall Street analysts say the stellar stock appreciation of competitor Wynn Resorts Ltd. -- rather than the ability to issue stock options -- is a primary motivation behind an anticipated public offering of stock by the owner of The Venetian resort in Las Vegas.

News Brief: A year after the Sept. 11, 2001 attacks, the Justice Department obtained video surveillance tapes suggesting terrorists were casing Las Vegas casinos.

MGM Mirage said today it received a $6 million insurance settlement in the second quarter related to the power outage that shut down the company's Bellagio resort for more than three days.

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

Many Las Vegas employers, defying national trends as they have since the recent recession started four years ago, were adding jobs in July.

Based on surging demand for Las Vegas as a business and leisure travel destination, Las Vegas Sands is proceeding full-speed ahead with financing for a $1.6 billion, 3,000-room resort adjacent to The Venetian.

Pinnacle Entertainment Inc. of Las Vegas swung to a second-quarter profit on a property sale gain, revenue growth fueled by a newly expanded property and cost cutting.

A small trade show said it has filed a formal complaint with Mandalay Resort Group against a Mandalay board member, saying the board member violated the company's conflict of interest rules by attempting to obtain an equity interest in the show and then blocking the show's desired dates.

A casino near the entrance to Lake Mead that has long been eyed by developers is one step closer to becoming property of the National Park Service.

The state awarded a contract to a Pennsylvania-based consulting firm to help develop a way to monitor money pouring in at slot machine parlors across the state and do background checks of applicants seeking lucrative gambling licenses.