Nevada News - Page 740
Las Vegas Strip Debt May Be Downgraded
27 September 2001
Major credit agencies are considering downgrading big Las Vegas Strip hotel-casino operators, following a tourism slump triggered by terrorist attacks Sept. 11.
Union Offers to Cut Hours27 September 2001
Las Vegas' largest union will ask members to accept reduced work hours for the next two months in an effort to get laid-off casino employees back to work.
Palms Hotel-Casino Gets Final Regulatory Approval27 September 2001
The off-Strip property – which plans to compete with the Rio, Hard Rock and Mandalay Bay for the younger, hip market -- expects to open Nov. 15.
Nevada Continues Push for Private Gambling26 September 2001
High rollers would have to bet $10,000 a hand on table games and $500 a pull on slots to gamble in private Nevada casinos. The goal of the proposed rule is to compete with private gaming areas at Foxwoods and at Asian casinos.
Venetian Discloses Layoffs, Notes Rebound26 September 2001
The Las Vegas Strip's Venetian resort has reduced its workers' hours by more than one-fourth, and has temporarily suspended construction of a new 1,000-room hotel tower, company officials said Tuesday.
Canadian Firm to Buy Regent Las Vegas26 September 2001
The bankrupt Regent Las Vegas hotel-casino, which cost $276 million to build, has been sold for $80 million to a Canadian real estate firm. Creditors will take a huge bath.
Gaming Conferences Remain On Schedule25 September 2001
Three upcoming Las Vegas gaming conferences are moving forward, though the hijackings of two weeks ago have led to the cancellation or postponement of 256 other Las Vegas meetings and conventions.
Vegas Slot Maker Sued By Competitor25 September 2001
Action Gaming sued to force Alliance Gaming Corp. to recall all video poker gaming devices that it has made and sold using Action's alleged gaming patents.
Banks Move Against Aladdin25 September 2001
The Aladdin disclosed Monday that its bankers began the process of foreclosing on the $1.2 billion Las Vegas Strip resort, as the property hung on the brink of bankruptcy.
Stand-Alone Strip Casinos Also Cutting Jobs25 September 2001
The Strip's oldest stand-alone hotel-casinos are fighting the city's recent tourist slowdown by laying off workers and cutting employee work schedules, property executives said.
Vegas Casino Companies Feel Slowdown24 September 2001
Feeling the pressure from a slowdown in tourism, companies all along the Strip are re-evaluating their plans.
Las Vegas Casinos Start Coming Back To Life24 September 2001
News Brief: They're back. Not all of them, but tourists are once again stuffing quarters into slot machines and checking into Las Vegas hotels.
Maloofs, Station Move Ahead with Plans to Open Casinos24 September 2001
The Las Vegas gaming industry faces tough challenges, but two new projects continue on course: the Maloof family's Palms and Station Casinos' Green Valley Ranch.
Nevada Supreme Court Denies Wynn's Request for Rehearing23 September 2001
News Brief: The Nevada Supreme Court has denied a request by casino executive Steve Wynn to reconsider its earlier ruling throwing out a $3.2 million libel judgment in his favor.
Travel Decline Continues in Las Vegas23 September 2001
An Atlantic City casino industry boss considers chartering a flight to Las Vegas. The idea reflects the fear that many Americans have of flying with people they don't know, and illustrates the challenge Las Vegas faces.
Aladdin's CEO Departs, Bankruptcy Filing May Be Imminent22 September 2001
Richard Goeglein, who has been in charge since the old Aladdin was imploded in 1998, left his post Friday, with the company not saying whether he quit or was fired. It told the SEC that Chapter 11 protection may be necessary.
Mandalay Bay Postpones Convention Center Project22 September 2001
Due to the sharp decline in travel to Las Vegas after the Sept. 11 terrorist attacks, construction has been stopped on the 1.8 million-square-foot convention center adjacent to Mandalay Bay. No date was set for resuming the work.
Mayor Urges Casinos to Delay Layoffs21 September 2001
Las Vegas Mayor Oscar Goodman has made an impassioned plea to local casino owners to delay laying off employees even as tourism visits continue to plummet after last week's terrorist attacks.
Aladdin Discloses Possibility of Closure21 September 2001
A severe dip in Las Vegas tourism and apparent infighting among the owners of the troubled Aladdin megaresort prompted the Aladdin to say for the first time that it may have to close.
Commissioners Approve Two Casino Projects20 September 2001
Two casino projects got Clark County approvals Wednesday and developers said that fears of an economic turndown affecting the region probably won't slow construction.
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