November 5, 2010 101105
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Compiled by Al
loses $164.8 million in third quarter
Harrah's Entertainment Inc. of Las Vegas today posted a third quarter
loss as costs expanded and customers spent less on the Las Vegas Strip
and around the country.
to lay off 200 Tunica workers
Citing a continuing decline in the casino industry, Harrah’s
Entertainment Inc. is cutting its Tunica work force by 5 percent and
outsourcing the entire housekeeping staff at its Horseshoe Casino &
Thanks to Green Chip member bigplayer
for providing the above link.
Harrah’s Bosses Put Squeeze on Employees to Vote in Pro-Reid Effort
LAS VEGAS - Executives at the casino giant Harrah’s pushed company
employees to vote early in an all-out effort to help the Harry Reid
campaign, according to internal emails obtained by Battle ‘10.
Laughlin found liable in fatal 2002 casino brawl
LAS VEGAS - A jury has found Harrah's Laughlin liable for injuries
sustained by bystanders when a fight broke out among rival biker gangs
at the hotel-casino in 2002, killing three people.
prices IPO in $15-$17 range
Harrah's Entertainment is hoping to raise $610.9 million in an initial
public offering this month and will change its corporate name to
deal to bring digital advertising to ‘high-traffic’ areas
Harrah's Entertainment Inc. of Las Vegas has plenty of walls on and in
its casinos and hotel rooms -- and a deal announced today will see more
digital advertising displays on those walls.
pleads guilty to defrauding MGM Grand
A man indicted by a federal grand jury for using a false identity to
defraud the MGM Grand resort pleaded guilty today to one count of fraud
and related activity, Internal Revenue Service Criminal Investigation
officials announced. Newsletter
editor's note: The case docket reveals the MGM in no way
suffered as a "victim." It was an asset forfeiture case involving
alternate names used for CTR's. The case may be discussed in more
detail on BJ21.com Green
Man assaulted and
robbed at A.C. casino
ATLANTIC CITY -- A man is recovery tonight after he was assaulted and
robbed early Tuesday morning in a Trump Taj Mahal elevator.
Standards in Casinos - No Way (Yes Way)
For those who work in the casino business, you may or may not have read
the fine print in your job description. It goes something like this:
You will at all times adhere to the company's code of conduct and will
take immediate remedial action if you recognize a potential compromise
to game protection and patron safety. Sure, it's hard to find it in the
carefully crafted cut & pastes from the legal and HR departments.
It's probably located just above the line that says: If the customer's
a high roller or hangs out with one - Fuggedabout the last line.
Bad Bet: Mohegan Sun Casino Cuts Losses on 2 Years of Terrible Ads
Folks on the East Coast will rejoice at the news that the Mohegan Sun
casino in Connecticut has put its ad account into a competitive bidding
review: It might bring to an end some of the worst casino advertising
ever seen. Many a TV viewer has wrinkled her nose and made a “WTF?”
face at the sudden appearance of a Mohegan commercial.
Management company reports financial troubles at Hard Rock ...
LAS VEGAS - Problems with meeting debt obligations are mounting at the
1,500-room Hard Rock hotel-casino in Las Vegas, even as the property is
beginning to see improvements in the Las Vegas market, its management
company reported today.
... Cantor to handle sports wagering for Hard Rock
Cantor Gaming has reached an agreement with the Hard Rock Hotel to
build and operate the property's sports book, the companies announced
Monday. The location will be Cantor's third facility in the region. The
company owns and operates a Cantor Race and Sports Book at M Resort and
re-election and referendum approvals please gaming leaders
Consensus is that Nevada slot machine manufacturers and the Silver
State's casino industry were the big winners in the 2010 midterm
Saying no to
online gambling will cost N.S., gaming head says
Staying out of online gambling will mean less money for the province,
and the Nova Scotia Gaming Corp. will try to estimate how much, says
the Crown agency's boss.
Development partners online gambling site
Foxwoods Development Co., the Mashantucket Pequot Tribe's St.
Louis-based development arm, plans to develop an Internet gambling site
in Europe in a partnership with Goodson Gaming, whose president,
Jonathan Goodson, produced such hit television game shows as "The Price
is Right" and "Family Feud."
US Poker Lobby
Shuffles Deck After Democratic Defeats
The online poker lobby on Capitol Hill is set to switch its attention
to the United States Senate after sweeping Democratic losses that will
see the industry’s chief advocate to date, Rep. Barney Frank of
Massachusetts, demoted from his position of influence in a key House
casino opening catches many off guard -- Avoidance of approval process
A new casino that opened quickly in northern Michigan is raising
questions about state and federal authority to regulate Indian gaming.
Las Vegas market stabilizing, but mid-tier resorts ‘challenged’
MGM Resorts International expects revenue to grow from its CityCenter
joint venture and its high-end hotels elsewhere on the Las Vegas Strip
-- but lower-end properties remain challenged by recessionary pressures
and the oversupply of hotel rooms in the city, executives said today.
Siena Hotel Casino in Reno going up for auction Nov. 10
The auction of the Siena Hotel Casino in downtown Reno will take place
next week in a Reno courtroom, where a national investment banking firm
will try to sell the downtown resort that recently closed after a long
string of financial problems.
DETROIT - A man who won big at Caesars Windsor casino, only to
lose his money to federal agents after he tried to re-enter the United
States on Monday without properly declaring his winnings, may be in
luck after all. Federal officials said this afternoon that the
Birmingham high-roller could get most of his $19,901 winnings back
since he obtained the cash legally.
unveils 24-table poker room
PHILADELPHIA - Parx, Pennsylvania's most profitable casino, unveiled
its 24-table poker room Wednesday in the building next door that once
housed the old PhillyPark casino.
MGM Resorts distances itself from bankrupt MGM Studios
The worldwide value of MGM Resorts International's brands was
highlighted today when the company moved to clarify for investors,
customers and vendors -- particularly those overseas -- that it is not
affiliated with the bankrupt MGM Studios.
Casuarina faces hardships amid economic downturn
The owner of the Westin Casuarina Hotel, Casino & Spa in Las Vegas
isn’t commenting on how the property is performing during the
recession, but real estate watchers say the 826-room property may face
Beyond the headlines, real LV story is complex
I received an e-mail for a U.S.-based correspondent for a respected
foreign publication who wanted to know whether the rumors were true,
and that Las Vegas would soon be closed because of the poor state of
employee fired over anonymous Web postings files wrongful-termination
ATLANTIC CITY — Kevin McHugh was brought into the corporate offices of
Tropicana Casino and Resort in August 2009 and confronted with copies
of anonymous online postings that denounced the gaming hall's
management. A few days later, the table games pit boss was out of a
job, his 26-year career at Tropicana abruptly over.
over Hula-Hoops soon over -- Officials close to accord on conduct for
An accord is close on new rules for street performers and the like at
the Fremont Street Experience, and the city of Las Vegas probably will
not ban Hula-Hoops after all.
winning big at Borgata’s gaming tables and it's costing the casino
millions of dollars
ATLANTIC CITY — Borgata Hotel Casino and Spa’s gamblers have been
incredibly lucky at the gaming tables. That’s good for them, but bad
for Borgata. Borgata’s luck has been so poor lately that it has cost
Atlantic City’s top-grossing casino millions of dollars in revenue and
prompted some intriguing speculation. One gaming analyst wondered about
the possibility of a cheating ring.
Thanks to Green Chip member
for providing the above link.
Wynn Las Vegas dealers OK resort’s first labor contract
More than three years after voting for union representation, Wynn Las
Vegas dealers last week voted 258 to 65 to approve the resort’s
first-ever labor contract for table games dealers. About 60 percent of
Wynn's 500-plus full-time dealers cast votes, union representatives
Larry D. Woolf, CEO of the Navegante Group
Like most gaming executives, Navegante Group CEO Larry D. Woolf started
his education on the front lines, working as a valet-parking attendant,
baggage handler and doorman in Atlantic City. He worked his way through
the ranks and became a credit and marketing host at MGM Grand, taking
over as CEO for Navegante, a casino management and consulting company
his father, Larry J. Woolf, founded.
The Bear Growls
Long-time Las Vegas-based advantage player, casino
critic, and frequent
contributor LVBear offers his opinions on things that sometimes go
wrong in the world of casinos.
Current and past growls can be read and comments posted at LVBear's
of Blackjack focuses on
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addition to KO which is a workable way to gain some of the advantage
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George C, longtime
professional blackjack player and author, says:
I've known Daniel Dravot for quite some time. He not only talks the
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Current Blackjack News
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