Wynn Las Vegas News - Page 15

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.

With backing from megastar George Clooney, Las Ramblas was supposed to be an 11-tower set with gambling, condominium and hotel space on a 25-acre stage. But it turned out to be a complete flop.

Sweet Mary on a motorbike, just sitting through the trailers — with scenes of Kevin James’ Segway-riding security guard fighting an exotic bird, punching an elderly maid and crashing a performance of “Le Reve” — was soul crushing enough.

Both Wynn Resorts and Elaine Wynn, the ex-wife of company chairman and CEO Steve Wynn, are seeking shareholder support for the make-up of the company’s board.

Elaine Wynn has challenged the company’s selection process. She is asking shareholders to return her to the board over one of its chosen candidates.

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.

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.

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.

In a proxy filing with the U.S. SEC Friday, Wynn Resorts said it will reduce its Class I board members from three to two.

The past 10 years covering gaming nationally and internationally have been nothing short of a theme park thrill ride that Disney’s greatest designers couldn’t conjure.

Wynn said its net income for the quarter that ended Sept. 30 was $191.4 million, or $1.88 per share. A year ago, the company reported net income of $182 million, or $1.79 per share.

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.”

The decision by a three-judge panel of the U.S. 9th Circuit Court of Appeals overturned a previous ruling by U.S. District Court Judge Phil Pro of Las Vegas that dismissed the case.

James Packer is forming a company with ex-Wynn Las Vegas President Andrew Pascal and investment firm Oaktree Capital Management to construct a hotel-casino on the 35-acre site where the New Frontier once was.

The long dormant site was subject of the Strip’s most expensive real estate transaction.

Proven Leader and Rising Star Awards announced as the Great Women of Gaming Awards are revealed.

Lines will be long at Las Vegas sports books when the NCAA Tournament begins today.

Elegant Parlour Suite at Wynn Las Vegas takes the top spot.

Johnny Avello is one of Las Vegas’s bettter-known bookmakers, having appeared on television, in dozens of magazines and on the radio.

Graham most recently served as general manager of Thunder Valley Casino Resort in Lincoln, Calif.