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Cash-Poor MGM Mirage May Sell Casinos

(Newser) - MGM Mirage, the gambling conglomerate, is considering the sale of casino properties in Michigan and Mississippi to pay down debt and save an underfunded Las Vegas development, the Wall Street Journal reports. The Vegas-based company has retained Morgan Stanley to shepherd the sales of the MGM Grand Detroit and Biloxi’...

Giant Vegas Project May File for Bankruptcy

Kerkorian-Dubai megaconstruction will miss debt payment

(Newser) - City Center, the sprawling $8.6 billion Las Vegas development and the largest private construction project in history, will likely fail to make a $220 million debt payment today and may file for bankruptcy. The project is a collaboration between Kirk Kerkorian's MGM Mirage and Dubai World, a conglomerate owed...

Sir Paul's Vegas Gig Sold Out in 7 Seconds

Must be some kind of record

(Newser) - A spring gig at a Las Vegas casino featuring Sir Paul McCartney sold out in a blink-of-an-eye seven seconds, reports the Telegraph. The former Beatle will rock the rafters for 4,000 fans next month at the opening of the New Joint at the Hardrock Hotel and Casino. The hurricane...

Trump Casinos Expected to Go Bankrupt

(Newser) - Owing bondholders more than a billion dollars, Donald Trump's Atlantic City casino company is expected to file for chapter 11 tomorrow, the Wall Street Journal reports. Board members are discussing it tonight, but if they don't file, creditors will force them into bankruptcy tomorrow. It will mark Trump Entertainment Resorts'...

Casinos Onto iPhone Card-Counting App

(Newser) - Las Vegas card-counters beware, if you're using an iPhone, the Las Vegas Review-Journal reports. A California gaming authority has tipped off Nevada officials about an iPhone program that helps users count cards in blackjack. "The program calculates the true count and does it significantly more accurately," a Gaming...

What Downturn? Vegas Gets New $2.3B Resort

Mogul riding high while rivals, Vegas struggle

(Newser) - Recession has dimmed the glittering lights of Las Vegas, but it hasn’t stopped hotel and casino mogul Steve Wynn, AFP reports. Wynn is preparing to open the lavish $2.3 billion resort Encore on Monday as Sin City weathers its worst economic meltdown in decades. “I don't owe...

MGM Mirage Chief Quits Amid Fake MBA Flap

Lanni denies sudden resignation related to degree fib

(Newser) - The CEO of MGM Mirage has announced his resignation, but denied it had anything to do with lying about having an MBA, reports the Wall Street Journal. J. Terence Lanni, one of the most powerful figures in the gambling world, has long claimed to have an MBA from the University...

In Slump, Vegas Pushes Escapism

Marketing gamble by casinos is coming back to haunt them

(Newser) - Las Vegas has enthusiastically promoted itself to travelers interested in pastimes other than gambling in recent years, but now that economic woes are tightening leisure budgets, Sin City is taking a hit, reports Advertising Age. With visitor volume and gaming revenue down, casinos are scrambling to respond. One has a...

Las Vegas Sands Nears Bankruptcy

Chips are down for gaming giant

(Newser) - Casino giant Las Vegas Sands is on the verge of bankruptcy, reports the Las Vegas Sun. The company, which owns the Venetian and Palazzo casinos in Las Vegas and has several gambling resorts in development around the world, filed paperwork with the federal government yesterday declaring that the Sands’ ratio...

MGM Delays New Casinos for Vegas, Atlantic City

After credit downgrade, firm reports 67% decline in quarterly net income

(Newser) - MGM Mirage will suspend work on new casinos in Las Vegas and Atlantic City due to the dismal credit climate, the Wall Street Journal reports. The firm reported a 67% drop in third-quarter net income as the slumping economy quells consumers’ desire to gamble or spend at casino restaurants and...

Casinos Staked Fortunes on Friendly Gambler Mac

Industry blossomed with help from legislation by life-time gamer

(Newser) - Life-time gambler John McCain is behind more casino legislation than any other lawmaker, and has helped Indian gambling become a $26 billion industry, reports the New York Times. Though the Arizona senator has called lobbyists “birds of prey,” he has enjoyed close links to casino lobbyists. He once...

Casinos Choke on Smoke Bans
 Casinos Choke on Smoke Bans 
Sep 19, 2008 2:20 PM CDT

Casinos Choke on Smoke Bans

Industry sees revenues drop as state laws makes gamblers gamble less

(Newser) - Taking deep breaths of clean air won’t stave off panic for casinos confronted with smoking bans in an increasing number of states, the Wall Street Journal reports. In Illinois, casinos have posted double-digit revenue drops since a ban took effect in January. “Gamblers like to smoke and drink...

School Offers Slot Machine Repair Course

Envisions bright future for graduates

(Newser) - A Florida vocational school is helping students hit the jackpot in the lucrative world of slot machine repair. The Sheridan Technical Center recently became the first school to offer a state-approved slot repair course, the Miami Herald reports. The inaugural class of 25 students is already underway. “We try...

Casino Ejects Man Over B.O.
 Casino Ejects Man Over B.O.
Jul 31, 2008 4:06 PM CDT

Casino Ejects Man Over B.O.

Smelly man wants an apology

(Newser) - A gambler deemed too smelly to play is demanding an apology from New Jersey’s Borgata casino, Fox Philadelphia reports. Michael Wax, 54, had spent 17 hours gambling in the casino when an official approached him and said he had to leave because other patrons were complaining of his body...

In Gloomy Economy, Even Vegas Is Down on Its Luck

Investors dry up as gambler demand drops

(Newser) - The economic downturn is hitting Las Vegas casinos with a one-two punch: Gamblers have less money to spare, and investors are less willing to shell out for glamorous new projects. Several casino companies have recently filed for bankruptcy protection, the Wall Street Journal reports. "This is the toughest environment...

Harrah's Rolls Dice on Surface
 Harrah's Rolls Dice on Surface 
Jun 12, 2008 12:27 PM CDT

Harrah's Rolls Dice on Surface

Microsoft's touch-screen tables debut at Rio

(Newser) - A Las Vegas casino has become the first to roll the dice with the much-touted Microsoft Surface, a touch-screen table that lets gamblers order drinks, watch YouTube videos, and even flirt. Harrah’s Rio hotel yesterday installed 6 of the tables, which start at $10,000, the AP reports. “...

US Casinos Dotting Macau Can't Cash In

Gambling's red hot, but local middlemen take a huge cut

(Newser) - Casinos on the Chinese island of Macau create more gambling revenue than the ones in Las Vegas and Atlantic City combined, but US operators—permitted to set up shop there since 2004—are decidedly not rolling in the money. The Wall Street Journal looks at the bumps in the road...

Even Vegas Is Down on Its Luck
 Even Vegas Is Down on Its Luck 
May 6, 2008 8:46 AM CDT

Even Vegas Is Down on Its Luck

Downturn starts to hit formerly recession-proof city

(Newser) - Tougher times are starting hit the Sunset Strip, the New York Times reports. Las Vegas has been mostly immune to downturns in decades past, but this time the gambling mecca is feeling the pinch as consumers tighten their belts. Hundreds of casino workers have already been laid off, and a...

Macau Casinos Double Vegas' Take

Chinese high rollers power Asia hot spot to record profits

(Newser) - If you thought Las Vegas was gambling’s capital city, think again. Casinos in Macau didn’t just beat Nevada’s finest this quarter, they lapped them. Macau’s gambling revenues jumped 62% from a year ago, doubling Vegas’ take over that stretch—though the casinos, which can't lend money...

Gambler Sues Casinos for $20M
Gambler Sues Casinos for $20M
Mar 9, 2008 5:30 AM CDT

Gambler Sues Casinos for $20M

Gambling 'addict' says dens failed to stop her from blowing $1 million

(Newser) - A former New York attorney is suing seven casinos for $20 million, claiming they helped woo her to the tables, and let her continue to play and lose despite an obvious gambling addiction. Workers at Atlantic City and Las Vegas gambling dens should have stopped her from blowing $1 million...

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