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Monday, Feburary 03, 1997 -- Modified March 06
GAMING CHIPSBoomtown's Reichartz sets sights on Strip | |
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The former president of Caesars Palace said he plans to transform the company that owns the Boomtown hotel and casino into a mid-level player with a site on the Strip. |
Guccione said he's negotiating with four companies, which he refused to identify, to build a casino. He's also looking at building a 1,000-plus-room nongaming hotel in the city. GAMING GLOSSARY ... A "jammer" is a casino dealer who can handle any and all types of action. ITT WATCH ... An article in the Jan. 20 issue of Business Week magazine asks, "Is Showbiz No Biz For ITT?" The article argues that the company's foray into pro sports and television "hasn't been kind" to company Chairman Rand Araskog and ITT's shareholders. "Araskog's biggest gamble has been on h is five U.S. casinos. Poor results at ITT's properties in Las Vegas, Atlantic City, and Tunica, Miss., which the company blamed on increased competition, construction disruptions, and just plain bad luck, helped drive down ITT's stock 37 percent to about 42 in the past six months," reads the story. Araskog declined to comment for the article. TRIVIA ANSWER ... Quarter slots earned $792,946,000 on the Strip in 1995; dollar s lots earned $612.2 million for the year. QUOTABLE ... "Steve Bollenbach is actually my hero. Not only is he a tremendous chief executive, he has tremendous insight into the world of balance sheets." -- Philadelphia- based gaming industry analyst Marvin Roffman, speaking about Hilton Hotels Corp. Chief Executive Officer Stephen Bollenbach. Gaming Chips is compiled by Review-Journal writer Dave Berns. Reach him by e-mail at Dave_Berns@lvrj.com or by telephone at (702) 383-4543. Best Of Las Vegas '97 |
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