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Nevada News - Page 309

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Inside Gaming: Real estate investment trust concept could happen for MGM Resorts

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

Key figure in illegal World Cup bets sentenced to probation

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.

Century Gaming wary of proposed new Nevada slot machine tax

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.

Elaine Wynn: Removal from company's board 'extraordinarily disappointing'

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.

Caesars narrows loss, offers little details on bankruptcy

Caesars Chairman and CEO Gary Loveman said he wouldn’t answer questions regarding the status of the restructuring of Caesars Entertainment Operating Co.

Wynn Resorts seeks to oust Elaine Wynn from board of directors

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.

Inside Gaming: Blackstone executive ready to bet big on Cosmopolitan of Las Vegas

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.

Nevada Supreme Court upholds 'markers law'

The court upheld the Clark County District Court conviction of California businessman Harel Zahavi on four counts of drawing and passing a check without sufficient funds and with the intent to defraud.

Caesars sells 20 percent interest in Ohio casinos

Caesars will continue to manage the properties, which will remain part of the company’s Total Rewards player loyalty program.

Three win $10,000 first-place purses at Treasures of the Eldorado $50,000 Slot Tournament

Other awards included $500 for second through seventh place, $100 for eighth through 39th place and $50 for 40th through 49th place.

A revived locals market could push Station Casinos to IPO

During the Station Casinos’ fourth-quarter earnings conference call a week ago, an analyst asked if the privately held casino company would be publicly traded once again.

Caesars denies another request from second-level bond holder

In a filing with the SEC Monday, Caesars said BOKF N.A. asked for payment on $750 million in debt plus interest. Caesars said it turned down the payment demand.

Inside Gaming: How would legalizing U.S. sports betting change Nevada's industry?

If legal sports books pop up in California Indian casinos, for example, would the Strip’s high-end gambling facilities dry up?

Once down on its luck, Las Vegas's North Strip is coming back

Casino operators in the north Strip area say development of a permanent, 33-acre, open-air concert venue by MGM Resorts International will facilitate increased business.

MGM Resorts plans job fair, hopes to add more than 500 workers in Las Vegas

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.

Riviera purchase seen being OK'd despite short-term job losses

When the Las Vegas Convention and Visitors Authority board of directors takes up the acquisition of the Riviera Hotel and Casino on Friday, it will do so with a board comprised of members who will have to consider killing jobs — and competition.

Report: Exec popped for $300k dinner after run at blackjack

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.

Culinary leaders toast new ownership of Cosmopolitan Las Vegas

Eighteen months ago, the union and The Cosmopolitan weren’t very chummy.

Caesars again rebuffs debt holders' request for payment

In a filing Wednesday with the SEC, Caesars dismissed as “meritless” a request from the Wilmington Savings Fund Society for immediate payment of $3.68 billion in principal and $185 million in interest.

Station Casinos upbeat about locals gaming market

The company reported revenue and cash flow figures that were at levels not seen since 2008.

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